
Originally Posted by
beanbandit
Personally i'd wait out the price drops before even thinking of getting a house. One of my workmates was trying to buy a house, it was either shared-ownership or key worker, but when they went to get their mortage sorted thats where all the "fun" started. The original mortgage was approved, then withdrawn as the provider had stopped the offer. Then they were told that they would need a 25% Deposit. So nothing happened in the end.
If i was you Josh, i'd save as much as possible while the prices are dropping, then when the signs start showing increases thats when you buy. Its what i did, and its worked perfectly. Or how about looking at repossessions. Generally you will get them cheaper, may not be in the best condition (mine wasn't) but the savings can make a massive difference on the mortgage repayments.