Roof Over your Head?

[vim_fuego]

I'm getting my ducks in a row to leave at the moment with courses and what not and my attention has turned to my relocation plans and the work I've done towards this has brought me to the opinion that some areas of the country incl. where I want to be (Kendal) are close to unaffordable...

Now I'm on a fair wack but 'roger me from behind with a Yam' readers the money people are holding out for up there for a 3 bed semi I could buy a fricking mansion down here in Lincoln for...

This got me thinking about the quarter of the armed forces that may be asked to leave in the Autumn...How many of you out there in quarters or in the block could in the next few months handle being turfed out taking it as read that there is no money for pay-outs?

 

[Little Tronk]

Thank the lord I bought 2 years ago (after about 18 in quarters) when you coulkd still get 95% deals otherwise I would be right royally buggered!

 

[RAF Bird]

Bought my first house 6 years ago at the grand old age of 24..... best thing I have ever done in the financial sence. I have now sold my little starter 3 bed semi and upgraded to a detached house alot bigger than the last. Love having my own home and buggering off away from camp at the end of the day!

One of the main reasons I bought my own home was because it used to scare me the amount of SNEC's I'd see leaving the mob and the last thing they did as hand over their MQs and have to move into rented else where. I wanted something to show for the years I've done.

 

[Sospan]

I was stupid enough (or so my friends thought) to buy a house at 19, I will have my mortgage paid off inside my 22.

I managed to get lucky with the house prices and still had enough money to **** up the wall.

If I was to guess the % of my Sqn that do not own a home it would be in the region of about 40%.

 

[vim_fuego]

I was stupid enough (or so my friends thought) to buy a house at 19, I will have my mortgage paid off inside my 22.

I managed to get lucky with the house prices and still had enough money to **** up the wall.

If I was to guess the % of my Sqn that do not own a home it would be in the region of about 40%.

Its a good job that local authorities all over the UK have been busy building council houses for the past few years......DT_Xtremez_42:

 

[FOMz]

Its better to take the plunge early, before getting trapped with a ball and chain and a couple of bin lids.

I bought FOMz Towers 8 years ago - best move I've made (wish i did it at least 5 years earlier). Yes I've been really skint, but at least I have somewhere to live when I retire in a few months time.

 

[Sospan]

There have been many many schemes over the years people have been offered as an incentive to purchase a home, LSAP and Key workers to name a few.

Free married quarters for anybody owning a home they have to rent out would have been a good idea in my book. It certainly would have made a few people think early on which would have softened the blow come resettlement time.

 

[Webbo]

Its a good job that local authorities all over the UK have been busy building council houses for the past few years......DT_Xtremez_42:

I love ripping the proverbial out of the guys who still live in quarters, my favourite line, "oooohhh that's a lovely X5, but can you live in it when you leave". Glad I met Mrs Webbo when I was 24 (she was 19) and we bought our first home, now upgraded and happy. A lot of guys are on for a shock! DT_Xtremez_30:

 

[KingGuin]

In a previous tour I worked in the Joint Services Housing Advice Office. Initially we only briefed resettlement courses. I thought troops should be be given housing advice earlier: thus I contacted all 3 Services suggesting briefs be delivered during Phase I, 2 Trg and on promotion courses.

The Army embraced the idea, the RN suggested (despite stats to the contrary) the majority of Matelots had bought. By far the biggest snub was delivered from our own Service who suggested the majority us were clever enough not to need housing advice.

During the same tour research suggested LSAP realistically needed to be £37K to afford (pun intended) the majority to get a foot on the property ladder: whilst Treasury agreed that sum was statistically correct there was never going to be enough in the pot to make it a reality.

Best bit of advice, buy now if you can.

 

[pie sandwich]

I bought my first 6 weeks ago, and I have spent a dam fortune just getting the place part furnished ( I had some furniture from a flat, but needed more )

I was bricking it when I made my first offer, and ended up paying full asking price, but I don't regret doing it, and I have more money at the end of the month than I thought I would which is always nice.

Now all I have to do is work like Ive never worked before ( which is just work really) and get the thing paid off as soon as I can.

I got a 95% mortgage and paying out £710 pm with a £20k deposit inc fees, so those people in MQ's are in for a shock when they have to stump up some real money to put a roof over their heads.DT_Xtremez_30:

 

[252]

military personel can i believe use service years or years in MQs towards discount of counsel and housing association housing under the right to buy legislation.

Check out Directgov/who is eligble for the right to buy.

Used to be 2 % for each year of service not entirley sure what it is now beleive it is different for each area.

Maximum diiscounts are now smaller but still in the region of 25 to 35 k
and if you have 10 plus years service plus the 5 years you have to spend in the counsel/housing association house you should qualify for the maximum


Might not suit some or indeed most but thought it might be worth mentioning

 

[he_who_dares_rodney]

military personel can i believe use service years or years in MQs towards discount of counsel and housing association housing under the right to buy legislation.

Check out Directgov/who is eligble for the right to buy.

Used to be 2 % for each year of service not entirley sure what it is now beleive it is different for each area.

Maximum diiscounts are now smaller but still in the region of 25 to 35 k
and if you have 10 plus years service plus the 5 years you have to spend in the counsel/housing association house you should qualify for the maximum


Might not suit some or indeed most but thought it might be worth mentioning

You need to get into a council house before you can use the discounts

Since I'd never bought my mum stuck my name on the council list when I joined up
When I left 9 years later and thought I 'd go and see about it
Woman in the council office looked at me like I was daft
Ex Forces wanting a council house? I can still hear the shreik in her voice now 13 years later

Remember their are 16 year old mums with Sky Kyle and Pepsi waiting to get a house well before you

If I had one peice of advice to young soldiers / airman it would be buy right at the start
Even if you rent it out get it bought and as much of it paid for befiore you come out

Saw to many F/S & W.O.'s who had to use their gratuity ust to get on the housing market when they could had it sewn up 20 years before hand

 

[252]

You need to get into a council house before you can use the discounts

Since I'd never bought my mum stuck my name on the council list when I joined up
When I left 9 years later and thought I 'd go and see about it
Woman in the council office looked at me like I was daft
Ex Forces wanting a council house? I can still hear the shreik in her voice now 13 years later

Remember their are 16 year old mums with Sky Kyle and Pepsi waiting to get a house well before you

If I had one peice of advice to young soldiers / airman it would be buy right at the start
Even if you rent it out get it bought and as much of it paid for befiore you come out

Saw to many F/S & W.O.'s who had to use their gratuity ust to get on the housing market when they could had it sewn up 20 years before hand

Totally agree,went to see about a house when i came out in 88 had 9 years(18%)plus the automatic 30% for a house or 40% for a flat coming to me.

Was told by 2 drindle skirted left wing type females(who loved every minute of shoving it up the warmonger) that as a single white male i had no points and therefore if i couldnt miraculously morph myself into a black lesbian single parent in a wheelchair i could fcuk off as i had no chance of getting a house or flat within the 2 year period my discount would stay active for.

Was offered a dhss BandB doss house(not much support our boys in them days!)even though i had a job.

Told them to shove it in no uncertain terms and was escorted of the premises.DT_Xtremez_25:

I was thinking more of scalees with a couple of brats.

 

[needsabiggerfuse]

Not long into my 22 years, I saw the results of 'someone not planning ahead', i.e. wife and two kids, not a stick of furniture and no house. Big stress all round, wifey comes round and gives Mrs 'Fuse a rusty shoulder, "Boo hoo hoo - and after 34 years of service to the RAF, they've evicted us ..." They ended up in furnished, private accomodation and it really got me thinking.

I wasn't into the buy and sell merry go round, so I started a long term saving plan and put what seemed like a huge wedge (£50/month) away instead (endownment policy - eeeek - but they were good in those days). I opened up a deposit account for the 'deposit' as well. When the day came and we put our feet down, I produced aforementioned policy and, just like the salesman had promised, it was accepted as collateral against the loan.

The really nice thing was that the policy ran for 25 years and matured. Kerching!!! It paid off the mortgage early, i.e. I had it around my neck for 17 years, so saved 8 years interest payments. Also during the last 7-8 years, I'd been overpaying so I was actually cutting into the capital owed, which in turn cut down the interest which meant I paid off even more of the capital, etc, etc. As an added bonus, the insurance company demutualised at the same time and I got a bucket full of windfall shares which are doing OK ish, but which pay out a nice divvy twice a year. DT_Xtremez_30:

Yes, I feel very fortunate and 'Double 6' did come up more than once, but I put a lot of it down to myself making my own luck. So my advice is to start sooner rather than later. If you're not going to buy, then bung what you would have been spending on a mortgage into a long term secure saving account, (see your bank manager and explain your plans) and don't be tempted to raid it once it starts to get up in the £ 000's.

There was no way on earth that I was going to end up like my neighbour all those years before. DT_Xtremez_42:

 

[propersplitbrainme]

Now I'm on a fair wack but 'roger me from behind with a Yam' readers the money people are holding out for up there for a 3 bed semi I could buy a fricking mansion down here in Lincoln for...

Well they may be in denial in which case they wont sell in the short term, or they're selling in a highly desirable area where some surburban dweller who has made his/her money in the city (or wherever) will pay over the odds to get into.
But, overall, its a buyers market at the moment (assuming you can get a mortgage of course) and providing you're not being too ambitious there's plenty of affordability out there.

 

[justintime129]

There was a piece on 5live this morning about a new section of the population called the inbetweeners. These cover the all walks of life and they are classed as those who don't have the support of their parents or don't have a deposit. In some part of England you need at least £30,000 deposit to get a decent interest rate.that could be %100 of your wages. The average age that people are getting their first house as gone up to 37. The report says we need to be able to have mire security when we rent we need to get away from a 6 month agreement

 

[Shugster]

You'd be better off in licolnshire anyway, whilst Kendal and the surrounding (?) area are nice I don't think there's much in the way of employment opportunities...

I could be wrong.

 

[Ex-Splitter and Proud]

You'd be better off in licolnshire anyway, whilst Kendal and the surrounding (?) area are nice I don't think there's much in the way of employment opportunities...
QUOTE]


I could be wrong, but my guess is that Vim's thought that one through...

:raf:

 

[Tin basher]

You'd be better off in licolnshire anyway, whilst Kendal and the surrounding (?) area are nice I don't think there's much in the way of employment opportunities....

Kendal with nice views of Cumbria and the lakes loads of opportunities for the forward thinking new civvy. Surely with a portion of his gratuity he could start a small business like a taxi firm or a gun shop.DT_Xtremez_42:



Seriously get some money saved up right now or buy somewhere of your own if you can. Once you take the blue suit off for the last time no one will give two hoots what you were or what you did or for how long you did it. You become just another potential house buying punter and the system will do you no special favours what so ever. The fact you once proudly served is of no interest at all to the vast majority.

 

[vim_fuego]

You'd be better off in licolnshire anyway, whilst Kendal and the surrounding (?) area are nice I don't think there's much in the way of employment opportunities...
QUOTE]


I could be wrong, but my guess is that Vim's thought that one through...

:raf:

I can afford to buy up there but its cutting me to the quick to downsize from the size I have now in Lincoln...Priorities are for family and quality of life of said family...I'll work in Homebase (if they'll have me) to be honest if it gives us that...Although BAE Sub Solutions is deffo getting my CV as are a few other firms up that way! If I have to I'll stay over here I will but I won't be happy!