Hi, I am 22 years old I have been an apprentice for the past 4 years and now been offered a job which is reasonably stable (as much as you can be nowadays) and I am looking to get a mortgage by the start of next year. I have 2 options but unsure which one to do?
Option one. I live with my parents at the moment and they are renting. They have said that they would be happy to save 10k each as in me and them and buy a house together 50/50, this would be joint ownership house. The good thing about this is I get on the property ladder and I will only be paying half towards a mortgage. My plan would be to keep this house until they go into homes etc then rent it out. The bad point to this is that I will be living with then for longer.
Option 2, I live with my girlfriend at my parents house and have done for 2 years, she hasn't got to the money at the moment but could afford one in about 3 years… Do I wait and buy a house to move out of my parents with my girlfriend? Or do I try and get a mortgage on my own? Just so this helps my salary is in between 20000 and 240000.
Final question and sorry for the long questions, if I did buy a house with my parents and then 2 years later wanted to move out to a small flat etc with my girlfriend, would I get a bother mortgage easily and would we still need 10% deposit?
Thank you so much for your time to read this Tom.
Read more: Quick mortgage advice please?
