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the housing market

toffuna101toffuna101 Posts: 3,472 Boards Guru
in Home, Law & Money
in the future i have no idea how im going to get a mortgage on a house because the mortgage rates are so high at the moment. my dad says when im 18 he and my mum will put me on the waiting list for social housing in which the cost of living will be significantly cheaper than if you were to get a mortgage but the waiting list for it is so long. ive heard people having to wait years just to get social housing which sucks because i want to move into my own place and be independent you know. the only way ill be able to get a mortgage is if i get a good job. and i kind of need to finish college to get one because realistically you cant get many good jobs with just your gcses. if youre lucky you could but im not a very lucky person honestly. another option is to go into supported living. ive talked about this before on here but that could be a backup option in case i dont get social housing or a mortgage on a house. but my parents dont know much about supported living spaces therefore i dont think they can help me very much in order for me to get that supported living space.

Comments

  • NathanNathan Community Connector Posts: 2,511 Boards Guru
    @toffuna101 the housing market is really bad. Like horrifically bad. Like never been as extreme as it is today level of bad. Some waiting lists for social housing even last up to 10 years with how things are. And as for first time homebuyers, the average age sits at roughly 34, but that includes those with financial support from parents commonly termed the bank of mum and dad. Without that, it's even older, nearly reaching in the 40's which is insane.

    What i'd advise is talk if you can to citizens advice about supported living spaces as they will be clued up on who to talk to and what it entails, or potentially about getting higher priority on the social housing waitlist if you have a disability. They can help advise you on the supported living spaces, and also about getting higher on the social housing waitlist. As for a mortgage, i have zero advice to give on that cause it's really bad right now. Bad enough that i'm leaving the country at the first chance i get to have a chance at home ownership in life.

    It's good that your planning these things out early, but citizens advice is gonna be your best friend for anything your parents don't know, so it's worth talking with them. i'll drop you a link to citizens advice and their online advisor chat site.

    https://www.citizensadvice.org.uk/about-us/information/chat-with-an-adviser-online/
  • independent_independent_ Community Connector Posts: 10,004 An Original Mixlorian
    edited October 4
    It’s so good to see you planning this early. I’m 22 and only just put my name on the social housing list, though i gather it is somewhat easier to get up here in Scotland because there are simply more available, though it is still a long waiting list.

    I second speaking with citizens advice. There is information out there about what gives you priority on the housing list, so it is worth checking to see if you tick any of those boxes. It turns out I ticked boxes I never even thought I would.

    Supported living is not for me so I’ve never really looked into that, but it is also worth declaring any physical disabilities or mental health conditions you have if you apply for it or social housing, as it may give you more priority on the lists.

    Edited to add that it is also worth noting that for a mortgage you need a sizeable deposit, so if you’re able to start saving now, it keeps your options more open.
    “Sometimes the people around you won’t understand your journey. They don’t need to, it’s not for them.”
  • toffuna101toffuna101 Posts: 3,472 Boards Guru
    DonnerKebab wrote: »
    @toffuna101 the housing market is really bad. Like horrifically bad. Like never been as extreme as it is today level of bad. Some waiting lists for social housing even last up to 10 years with how things are. And as for first time homebuyers, the average age sits at roughly 34, but that includes those with financial support from parents commonly termed the bank of mum and dad. Without that, it's even older, nearly reaching in the 40's which is insane.

    What i'd advise is talk if you can to citizens advice about supported living spaces as they will be clued up on who to talk to and what it entails, or potentially about getting higher priority on the social housing waitlist if you have a disability. They can help advise you on the supported living spaces, and also about getting higher on the social housing waitlist. As for a mortgage, i have zero advice to give on that cause it's really bad right now. Bad enough that i'm leaving the country at the first chance i get to have a chance at home ownership in life.

    It's good that your planning these things out early, but citizens advice is gonna be your best friend for anything your parents don't know, so it's worth talking with them. i'll drop you a link to citizens advice and their online advisor chat site.

    https://www.citizensadvice.org.uk/about-us/information/chat-with-an-adviser-online/

    thanks for giving me the link. ill chat to an advisor when i get closer to 18 or when i finish college. and in terms of having a disability, i do have cerebral palsy. and i have mental health diagnoses too.
    independent_ wrote: »
    It’s so good to see you planning this early. I’m 22 and only just put my name on the social housing list, though i gather it is somewhat easier to get up here in Scotland because there are simply more available, though it is still a long waiting list.

    I second speaking with citizens advice. There is information out there about what gives you priority on the housing list, so it is worth checking to see if you tick any of those boxes. It turns out I ticked boxes I never even thought I would.

    Supported living is not for me so I’ve never really looked into that, but it is also worth declaring any physical disabilities or mental health conditions you have if you apply for it or social housing, as it may give you more priority on the lists.

    Edited to add that it is also worth noting that for a mortgage you need a sizeable deposit, so if you’re able to start saving now, it keeps your options more open.

    thanks for the information.
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