Rob B
Member
Registered: 8th Jan 04
Location: Area Motorsport Drives: Race EP3
User status: Offline
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Hey guys, me and my girlfriend are buying a house, we both have the same outgoings at present really other than her loan ends well before mine..
I'm 21 take home about 1,350 after tax.
My current outgoings are
Car insurance - £129 per month
Loan - £230 month
Phone - £40 month
Store card - £32 month
Total £430
With house,
Mortgage £250 each
Council tax £54 each
Water and electric £20 each
Tv and internet etc £20 each inc licence
Total £344
So that leaves me with about 550 - 600 a month for food etc. I think i should be fine but people are being negative and saying i wont have enough etc.
What you guys reckon ?
I was thinking about selling the mini and clearing my loan but don't think i really need to ?
Cheers Rob
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pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline
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Clear the loan IMO.
That would pretty much cover the cost of the mortgage.
What if something unexpected happen, unexpected bill etc?
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AndyKent
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Registered: 3rd Sep 05
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You'll need a deposit for a start, and the mortage seems a bit light.
What if she moves out, could you afford it on your own?
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
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the real question is, how long have you been together? is she really mortgage material?
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Conway563
Member
Registered: 7th Jun 06
Location: Yate, Bristol
User status: Offline
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quote:
Originally posted by Rob B
Water and electric £20 each
Tv and internet etc £20 each inc licence
I'd expect those to be more TBH
I currently pay £31 a month for water, £55 for gas and about £30 for electric
Don't forget TV licence is £23.75 a month for the first 6 months before it goes to £12
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Rob B
Member
Registered: 8th Jan 04
Location: Area Motorsport Drives: Race EP3
User status: Offline
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Deposit is sorted, credit card would cover unexpected bills plus i have some savings and so does she. Been with her a year and we spend most our time together.
The mortgage is quite light cause we have a pretty decent deposit 
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
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I SAY live with her in a rented situation first to ensure she isnt bat shit insane.
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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Why do you have a loan then? Would it not have been a better idea to clear the loan with your savings?
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Rob B
Member
Registered: 8th Jan 04
Location: Area Motorsport Drives: Race EP3
User status: Offline
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My savings don't cover my loan, my loan is most of my car, my savings are about a third of that and i like to have money in the bank
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BluKoo
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Registered: 8th Apr 02
Location: Stonehaven (Scotland)
User status: Offline
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If you or anyone else is questioning whether you have enough money to live sensibly and comfortably, then the chances are you might not.
As Pow said, clear the loan first, and that will free up some more cash.
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Hammer
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Registered: 11th Feb 04
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quote:
Originally posted by willay
I SAY live with her in a rented situation first to ensure she isnt bat shit insane.
They're all insane, it's all about finding one that gives a decent enough blow job to counteract that fact.
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AndyKent
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Registered: 3rd Sep 05
User status: Offline
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The Mini right? Whats that worth £10-12k? (complete guess). If you've only got £4/5k savings that isn't nearly enough for a house deposit.
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Rob B
Member
Registered: 8th Jan 04
Location: Area Motorsport Drives: Race EP3
User status: Offline
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quote:
Originally posted by BluKoo
If you or anyone else is questioning whether you have enough money to live sensibly and comfortably, then the chances are you might not.
As Pow said, clear the loan first, and that will free up some more cash.
There questioning it cause we go and buy aload of crap we don't need usually and eat out 4 - 5 times a week i think. We personally think 600 each so 1200 between us a month spare should be enough. just wandering what others have.
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Tommy L
Member
Registered: 21st Aug 06
Location: Northampton Drives: Audi wagon
User status: Offline
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A year? Definately wouldn't get a mortgage with someone after that long. I doubt i would do it before 30 
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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If only there were a sub forum specifically for stuff like this 
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corsa - gus
Member
Registered: 8th Jan 07
Location: Aberdeen, Scotland
User status: Offline
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I think you are underestimating the cost of, electric bills and the like. However to me it looks like you should be ok money wise.
Both on around £20k a year, I was on £18k to whack when I first took out a mortgage. I presume both of your jobs are relatively safe and have the potential to progress to earnign more money? If so then its a no brainer to me, unless as was previously said she turns out to be a nutter, then you're fucked.
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Half Pint
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Registered: 25th Mar 02
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you are forgetting stuff like house insurance, life insurance and other stuff like that..
then there is the actual movig costs, deposit, stamp duty, surveys, fees...
i'm going throufh the motions and the costs just to move have amounted to £23k 
i have said that to make sure we have planty of reserves every month there needs to be at least £2k going into a joint account to deal with all things on the house then what ever is left deals with each others spend matters.
sit down do the sums and work out how much you will have to be comfortable with....
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a_j_mair
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Registered: 23rd Jan 04
Location: Scotland
User status: Offline
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as half pint said
remember all bills
tv license
line rental
buildings and contents ins
life insurance
internet
mobile phone bill
gas
electric
council tax
mortgage
car
car ins
loan ayments
bank acount payments? if you pay for bank account
store cards/credit card payments
and that is just off the top of my head
you have to have money for food petrol. road tax servicing of car, servicing of boiler
genral ware and tear on car and around house
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JayCarr
Member
Registered: 19th Dec 02
Location: Cambs Drives:M3 & X3
User status: Offline
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What half pint said, when i bought my house i didnt realise just how much it would all add up to. We spent around 27k in total, deposit and all fees. We put a large deposit as it lowered the repayments and we couldnt get much of a morgage in the frst place. Then theres the monthly bills etc. it really does add up. If you've got a joint income of around 40k you should be ok, its just the initial payments before even moving in!
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DaveyLC
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Registered: 8th Oct 08
Location: Berkshire
User status: Offline
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quote:
Originally posted by Rob B
Mortgage £250 each
Council tax £54 each
Water and electric £20 each
Tv and internet etc £20 each inc licence
Total £344
FMPSL! Where are you going to live? A garden shed?
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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quote:
Originally posted by willay
is she really mortgage material?
Love it Willay  
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Rob B
Member
Registered: 8th Jan 04
Location: Area Motorsport Drives: Race EP3
User status: Offline
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quote:
Originally posted by DaveyLC
quote:
Originally posted by Rob B
Mortgage £250 each
Council tax £54 each
Water and electric £20 each
Tv and internet etc £20 each inc licence
Total £344
FMPSL! Where are you going to live? A garden shed?
Shut up you stupid little cunt, search on google and then come back.
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Rob B
Member
Registered: 8th Jan 04
Location: Area Motorsport Drives: Race EP3
User status: Offline
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And like i said deposit is sorted
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
User status: Offline
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quote:
Originally posted by loafofbrett
quote:
Originally posted by willay
is she really mortgage material?
Love it Willay
merely looking out for my friends 
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Rob B
Member
Registered: 8th Jan 04
Location: Area Motorsport Drives: Race EP3
User status: Offline
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quote:
Originally posted by a_j_mair
as half pint said
remember all bills - done
tv license - done
line rental - done
buildings and contents ins - done
life insurance - Not doing.
internet - Done
mobile phone bill - Done
gas - done
electric - done
council tax - done
mortgage - done
car - done
car ins - done
loan ayments - done
bank acount payments? if you pay for bank account - N/a
store cards/credit card payments - done
and that is just off the top of my head
you have to have money for food petrol. road tax servicing of car, servicing of boiler
genral ware and tear on car and around house
All of those we've took into account and buying new stuff aswell sofa etc
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