realistic to save for a mortgage??

[Starsandthemoonx]

so between mine and my partners income we have around £418 per week £1672 per month £525 is our rent straight away have 2 soon to be 3 kids so the normal cost clothes food gas electricity council tax phone bills wifi all the usual bills!! we have been trying to save although so hard as I am now pregnant will need a bigger car think we will have to take out finance! is it unrealistic to be able to save for a mortgage it's just so irritating to have to pay £525 rent each month when could pay a mortgage for that however the deposit will take us around 4 years to save roughly.

I’m no expert but if I were you I would take the focus off of saving for a mortgage for a year or so and just save what you reasonably can. See where you are in a year and then evaluate. I believe sometimes it is important to live life in the moment - right now you are expecting a 3rd child and live in a rented property, you know your incomings and your outgoings so just live life as it is.

I had a friend in a similar position to you in terms of family set up and income. She has been obsessed for 10+ years about saving a deposit and getting a mortgage. Unfortunately it hasn’t happened for her yet so she has felt a bitter disappointment and often been really stressed rather than actually enjoying what she has.

I feel society pressures people too much to become homeowners as if it’s the be all or end all.

Good luck with whatever happens

What are house prices like in areas you would consider buying? Unless they’re very low, I don’t think your income would be enough to get offered much of a loan.

Saying that, no one is saying your income won’t increase over the next X years.

I’d try putting what you can aside anyway, and then when all your kids are at school and your earning potential has increased you can re asses the situation.

Sorry that should have said much of a mortgage, not loan