Moving out and buying or renting.

[GoldFish]

Does this prospect make anyone else really nervous? Now i have rented before but it was in a shared situation where you pay a percentage of the overall rent so it's a fixed rate per week which made a budget easy to work out. The approval was that you had been working for a while and had a full time wage. That's it. Fine.

In terms of acquiring a home loan i know that lenders always want a consistent work history in the ONE industry. Now because of circumstances and companies i worked for having high staff turn over mean for me that my average staying time is 2 years and less and then something seems to happen and i leave.

Also working in 3 different industries like i have is seen as "risky" to lenders.

So i can save up alot of money for a loan but still be rejected based on not having a successful longevity filled career in the one industry, this i find insteresting.

I have been reading about what you need to buy these days and doing it alone seems really tough. The way i see it is that you can only be a professional successful career person to even be approved as a single person, even for a small basic studio apartment. Obviously moving out with a friend or partner is preferred if you can do that though for a house.

The more research into it the worse i feel. I realise that for me it would be 5+ years before i can even consider it and that's only if everything goes well in my next job for that longevity in 1 industry only.

Then i see relaitives making it look so easy. They have 5-10+ years in the one chosen career where they progressed and made it to a manager. They have the ego and the professional look and they just pulled it off blissfully.

Then there is the pressure that you have to always hold down a job so that the mortgage stays upright.

Maybe renting is the best path to follow.

The whole thing does my head in. I have no idea how people do it.

[Rich Notts]

In this case I'll never be able to buy a place until I'm old and grey I'm stuck renting atm but I personally think owning lots of properties should be illegal thats why prices are so high and why rents are so high just so some rich people can purchase lots of property and extort normal people.
/lerant

[Vastaux]

Renting is about all i can manage, the hillarious thing is, renting is only about £150 a month less than it would be for a mortgage... I went to mortgage advisor with £10k deposit available (why they call them advisors i dont know as she used the same webpage as you can do yourself on their websites) and was pretty much told that due to my age, blah de blah i am sol, I'm going to have to somehow save about another £10k just to have a hope in hells chance of getting a place which isnt falling apart... considering this £10k has been saved over 20 years since birth... i dont see myself owning my own place for a long time... The system sucks.