First time buyers

[Pickledonion24]

Have managed to save 200k between me and my partner. just feeling annoyed it won’t go anywhere really down south where I live

I do have sympathy with you as I have grown up in an area that is expensive to buy in. A one bed, possibly two if we are lucky, flat would cost £350-£400k.

We are finally buying (mid-30s) and have had to move 50 miles away from where we are now. I will have to give up my job as the commute costs will be too much (about £500/month as opposed to £130/month). Luckily I'm pregnant so will work that job until I'm on maternity leave and have a natural time to leave, while getting some pay. Our childcare will be more expensive as we have help with family for that at the moment. Oh and we are buying on the help to buy equity loan scheme.

I posted too soon...

Basically it's about sacrifices. You have to work out what you are willing to sacrifice? If you want to stay where you are now that will likely be living in a house rather than a flat. If you are willing to move you may get more space but might have to give up your job and find another.

OP not answering on why mortgage offer so low compare to deposit but perhaps: job commission based or self employed or based on one salary due to working on a contract.

OP feel your pain - London is hugely expensive, I moved from Scotland and you can buy a lot more for your money up there...it was all about realigning my expectations. We took on a project and it was stressful and hard work but got a lovely house we couldn't have afforded without doing it. Just a thought - with that much capital could look at auctions?

I grew up in a bigish house too. But I live in a 3 bed terrace with on street parking because that is what we could afford. We are currently looking for a 3 bed after living here for 6 years. That's generally how it works, you start at the bottom and work your way up. I was fortunate to inherit 20k which we used for a deposit, this got us into the ladder and if our house ever sells we will work our way up, just like my parents did.