Sheffield housing

Hoping to get a mortgage a little later on in the year through the help to buy scheme. Do you think it will be around all this year? I hope so

We applied for the Help to Buy as we couldn't afford to buy a home without it. Unfortunately things did not plan out with the builder, Keepmoat, so it fell through. On a side note, I really recommend you go with another home builder - it's not worth the hassle buying from Keepmoat.

Since we first applied things have changed in regards to the mortgage market. Mortgage lenders are now lending more to compete with Help to Buy. Not more than we can afford but a sensible amount where as before what we could borrow seemed ridiculously low.

Maybe because of this the house market will pick up again and they will get rid of Help to Buy sooner rather than later. But who knows.

The housing market will pick up after Christmas, we are planning to have a look at older properties early next year.

Are they we are looking at 100k at top end so hopefully get there

With a budget of 100k max is there no way you could save a 10% deposit? Or do you really want a new build?

You pay over the odds with a new build and with a budget of 100k you will be looking at a smaller house. Will this last you or are you likely to want somewhere bigger in a few years?

Because if you want to sell in say 2-3 years time you may not get what you paid for the house. Even less if the house builder is still building new houses on site.

An older house at 100k will bigger especially if you are willing to consider an ex-council house.

Hopefully get a 10% deposit but if i dont in time when i need to move help to buy is a fall back

Have you got any advice from a mortgage advisor? I really recommend seeing an independent one as they can look at mortgages from different providers to find out the best one for you.

You might even be able to put down only a 5% deposit for an older house, all though the interest rates will be higher.

I can give you number for an advisor if you want it

people knocked the banks when they lent to people who couldnt afford the mortgage and now the gov are doing the same no wonder this countrys knackered

I think there needs to be some sort of middle ground with what banks will lend. We bought our first house in 2006 and we paid 105k with a 17k deposit. I know people who bought houses at the same time as us who took out 100% mortgages. If I remember right we could buy a house at about £175k max. We did not because we knew we could not afford the mortgage payments even though the banks would lend us more we set a budget of around 100k for a house.

When we decided to move earlier this year it felt like we were being punished for other people's stupidity with money because the banks had really cracked down. Using Help to Buy was the only option for us. Now we can at least borrow a sensible amount.