Singing Pig

IM 19...AND I REALLY WANT TO START GETTING ON THE PROPERTY LADDER AT THIS STAGE....BUT THERES A PROBLEM I HAVE NO MONEY OR JOB!! HELP!? ANY ADVICE?

There's plenty of time to get on the property ladder, I didn't get on it until I was 22, and that hasn't worked out too badly for me.

 You want to get some financial backing if you are going to get on the property ladder, you need a deposit/income or mortgage lenders simply won't lend to you. How about a career in a property related field such as an estate agency, or becoming a lettings manager.

If you are fancying buy to let, then you don't necessarily need an income, because lenders often don't take your salary into consideration when loaning you the money, they do it based on what rent you will achieve, However, for these you usually need at least 10 per cent deposit. It is also important to have some form of contingency if the tenants do not pay their rent as well

Most people want to get on the ladder but i would highly recomend getting a job and save some cash before you do anything else.

PropertyGoal84:

Most people want to get on the ladder but i would highly recomend getting a job and save some cash before you do anything else.

 

I've got a good job and saved a large deposit yet I can't still get on the ladder.  Just waiting for prices to correct to normal levels. 

regarding the initial poster ... you're 19, have no savings, and no job ... yet you feel you want to get on the property ladder?!  you can't be serious surely?  did the advice above come as a surprise to you?!  i'm all for providing support and advice but surely you have to help yourself too? 

since you initially posted you havne't bothered to reply to the thread ... a simple courtesy to the members who took the time to respond?

that may sound strong, but someone needs to say it ... !

brit1234 ... you "can't" get on the ladder?  why not?  (you can see where i'm going with this ... )

 

Pod:

brit1234 ... you "can't" get on the ladder?  why not?  (you can see where i'm going with this ... )

 

Maximum mortgage on £34k salary is about £132K together with a £25K deposit gives me a maximum price of £157K.  I live in West London so can't afford anything.  I have to raise my wages and savings a lot before i can even afford a one bed flat.  Thats why I have no option but to wait for prices to become affordable again.

Manchester, Leeds, Birmingham, Liverpool etc these are all areas where you can purchase a property for £150k from a 1 bed apt to detached property depending on the area.

 
You dont have to live there just a good investment for the future. Many people in London do this.

Maximum mortgage on £34k salary is about £132K together with a £25K deposit gives me a maximum price of £157K.  I live in West London so can't afford anything.  I have to raise my wages and savings a lot before i can even afford a one bed flat.  Thats why I have no option but to wait for prices to become affordable again.

Move to a cheaper area and commute,plenty of choice in watford,burnt oak or many nearby areas,many of us had to make exactly the same choice for our first property