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AIBU?

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Original poster

The reason young people can't afford to buy houses

1002 replies

GrabtharsHammer · 27/11/2016 21:42

Is because they all have iPhones and Sky telly.

So sayeth my mother.

Nothing at all to do with the ridiculous house prices then? They are baby boomers and bought their first house for a few thousand quid on my dads modest salary.

Apparently the youth of today just need to get rid of their gadgets and telly subscriptions and then they will easily afford a deposit and mortgage.

Are everyone's parents this judgemental and out of touch or am I just particularly lucky?

(Fairly lighthearted) AIBU?

OP posts:
Pisssssedofff · 01/12/2016 21:37

The back up plan is that she doesn't do any of it and I keep my money lol
And no she doesn't get a say in whether she's financially sensible and secure ... Are you seriously thinking she might not be keen ?

olderthanyouthink · 01/12/2016 21:38

olivers what does she do that pays so much?

Pisssssedofff · 01/12/2016 21:38

TinselTwins she won't be applying as a student she'll be applying as a fully employed adult with a full time job, as long as the mortgage is continuously paid they don't come around to check up on you you know

Maxwellthecat · 01/12/2016 21:39

Did we ever find out who was wearing the £200 shoes?

user1476961324 · 01/12/2016 21:39

Olivers

I can't see what job a 16 year old could have, which would allow her to buy a flat aged 18 in London. Even without rent or bills.

What are these jobs exactly? Working in a shoe shop isn't the most lucrative of careers.

user1476961324 · 01/12/2016 21:40

Pisssssedoff, when I have applied for a mortgage (all fell through due to seller) they went through my finances with a fine tooth comb.

they will want 12 months of payslips, guaranteed.

DeleteOrDecay · 01/12/2016 21:41

You sound just a little bit over bearing and unrealistic. But I get that you have your dd's best interests at heart.

TinselTwins · 01/12/2016 21:41

Are you seriously thinking she might not be keen ?

I lived in 3 countries in my 20s.. (and settled down in one of them in my own time). I wouldn't have wanted that at 18 TBH

On another thread (the buying student offspring houses one) I mentioned a houseshare I had where one of the housemates was the landlords daughter but had landlady duties - she had a bit of a shit time compaired to the rest of us. Tied to that house and having to fill it every year with first year while people were moving about with mates..

DeleteOrDecay · 01/12/2016 21:43

And yes there's a chance she may not be keen. It's a huge responsibility at 18. I don't know your daughter but she may well find it all a bit too much.

TinselTwins · 01/12/2016 21:44

TinselTwins she won't be applying as a student she'll be applying as a fully employed adult with a full time job, as long as the mortgage is continuously paid they don't come around to check up on you you know

She'll be applying as a student who has presumably already accepted an offer and if she omits that, that'll be a rather large omission!

Pisssssedofff · 01/12/2016 21:46

Delete I'm very happy to be over bearing if it stops my kids having to sleep in Covent Garden for 5 weeks as I had to at 20, I knew none of this when I was 18.
As for living in 3 countries, that's a damn sight easier to do with £600 residual income in your back pocket every month but I see what a burden that might be for some.
I've just told you how to make £80,000 in 5 years and you're still picking holes and whinging. I'd be getting on right move if I were you.

TinselTwins · 01/12/2016 21:47

If she's had an offer when she applies it sounds like sailing rather close towards mortgage fraud!

and what about the HMO issue?

Rache1983 · 01/12/2016 21:50

Slotted spoon we bought our first house in 2007, a 3 bed mid-terrace for £220,000 in Belfast. We sold it this year for 135,000. Prices have absolutely not recovered here!

TinselTwins · 01/12/2016 21:50

well if I were you, I'ld be doing anything I can to not put my kids in a position that might result in a custodial sentence! Which is a potential consequence of mortgage fraud by deliberate omission

frikadela01 · 01/12/2016 21:51

I've just told you how to make £80,000 in 5 years and you're still picking holes and whinging. I'd be getting on right move if I were you.

If it was as simple as buy a cheap house and let the rooms then everyone would do it. The reality is very very different.

Oliversmumsarmy · 01/12/2016 21:52

She does allsorts from teaching to shop work and other stuff. Cant go into too much detail as it would be too outing. Only one job is paid at minimum wage.

Don't forget she will not be in college at 18.

Pisssssedofff · 01/12/2016 21:53

It's nothing of the sort tinsel what a over dramatic reaction, there's no box that says are you going to be a student to tick. You lot are off your heads sometimes, how many bankers went to jail for the millions of pounds in absolute fraud shorting of housing the housing market in 2008 and you seriously think an 18 year old who changes her financial position after getting a mortgage but still pays it is going to prison ? You're mad !

Pisssssedofff · 01/12/2016 21:55

frikadela01 Really it's that simple, I was in two minds about even posting it because well you don't want everyone doing it do you, but then you remember most people just won't so it's no problem.

EnormousTiger · 01/12/2016 21:56

I think it's a bit much to accuse a poster of coming close to mortgage fraud.
All kinds of loans are available. My second daughter bought on a buy to let loan as her first property, just before those rules changed and let it out. My other daughter's friends' father bought the boy a house at university and he let it out to friends including my daughter and far from his finding it difficult it was really good experience in the university holiday to be learning painting skills and all the rest. I bought a house when I was 23. Some of us are very mature at an early age and want to get on with life.

I do still think for some university is worth doing and my youngest 2 will go next year. I don't thinkm y daughters would earn as much as they do as lawyers if they hadn't been to university and some professional careers you really do need a degree but I certainly think we have gone too far in requiring degrees for quite a few other kinds of jobs. When I went to university hardly anyone went from my school at all and I think only 15% in the country went at all.

We get back to my same moral issue again - I help the children buy a house and secondy,. I ensure they graduate debt free. So the charging university fees and the house price issues (caused in my view by reining in interest rates, QE, not letting banks fail and market interference) cause the kinder and more generous of parents to increase inequalities. Mind you that won't stop me working full time and helping the children.

TinselTwins · 01/12/2016 21:57

She would not be changing her financial situation after applying if she accepts a uni place before applying!

And there doesn't have to be "a box", ommiting information about your financial situation counts as fraud

FGS everyone knows that ordinary people don't get away with things in the way that bankers do Hmm

If you wanted to sail close to the wind like this, fine, but pushing your daughter to do so??

Oh and renting to students isn't quite as straightforward as all that anyway, there's some posters on here who know the ropes, if you're actually interested in the reality of it: www.mumsnet.com/Talk/am_i_being_unreasonable/2793076-To-buy-a-house-for-DS-to-rent-off-me?

Pisssssedofff · 01/12/2016 21:58

Well I'll be sure to make sure she gets the house first then !

TinselTwins · 01/12/2016 22:00

I think it's a bit much to accuse a poster of coming close to mortgage fraud.

I said it was sailing close to the wind, which it is.

Pisssssedofff · 01/12/2016 22:01

Honestly go back to your whinging and whining, people can and are getting mortgages without breaking any laws and or getting banged up and that's how you raise capital taking risks and starting early.

user1476961324 · 01/12/2016 22:05

I think there was a debate going on Pissssedoff - no need to start the 'whinging and whining' stuff.

Like Tinsel, I agree you need to look into this further. It seems unlikely.

Olivers - I am afraid you also need to do some sims too.

user1476961324 · 01/12/2016 22:06

**sums not sims!

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