AIBU to feel sad and frustrated re: the possibility of getting a mortgage? How the jeffing chuff are we supposed to do it?

[SuzySheepSmellsNice]

I studied hard, have a reasonable job, we both earn mid twenties... But when we enter the figures into the mortgage calculators, they want to offer us about £80,000... We live on the south coast, I don't think that would even buy a nice caravan. We pay almost £800 pcm rent, so we could afford the mortgage repayments

«sobs»

Have you looked at the new Help to Buy scheme? You need a 5% deposit and the government loans you 20% so you only need a mortgage for 75%. Loan is interest free for 5 years. Only available for new build houses.

We wouldn't have been able to buy the house we're getting next month without it.

Lurked: that's the scheme we're on. It's been fantastic for us. We should be able to remortgage next year to buy out the 20% before we start paying it back (and hopefully before the government actually make any money on their 'investment'! Mwahahahaha!)

Lots of food for thought... Thank you.

Have you actually gone to see a mortgage advisor? The one I saw was amazing. I haven't actually gone for the mortgage yet but after talking to him he said he could push for me getting one on "affordability" - i.e. my rent payments are similar to yours so he said based on that I could afford a mortgage that was higher than what the calculators said. Go and see one. I think a good one knows all the loops and might be able to help more than you applying directly to one provider. They'll have access to loads more. You don't pay them. They get their money from commission from whoever's product they sell.

Righty ho... Sounds like it might be worth investigating, thanks