Originally Posted by
James Curry
#19 We had to work to own a home , today they expect it to come to them by the good fairy, there are plenty of now legal fairies around but I question the word good.
Suppose it depends on how children are brought up. Mine put himself through university and left with a masters degree and no debt.
Took him and his girl friend 5 years to get enough for the deposit for there home. Max allowed to borrow was 3 times there combined annual salary. They were put through the ringer by Santander on financial checks to see if they could afford the loan. They choose a repayment mortgage 25 years@ 3.4%.
Only thing my wife and I did for them was help with the DIY , bought them a new bed and a TV. Her mum and Dad bought them a washing machine & fridge.
One piece of advice I did give him was if never to drop what they were repaying each month and if he had a few quid spare to pay it off the mortgage. As said depends on how one brings the kids up.