Buying your first home…

agents
This weeks announcements about the ‘housing crisis’ and the plight of the poor snowflakes who can’t get on the housing ladder has caused me to think back to the ‘bad old days when I were a lad’ and how it was so much easier for my generation. Not.

Here’s how it used to work :

(1) You can’t afford to start with a four bedroom detached house in the same street where your parents live. You have to start with a one bedroom flat in a cheaper area and commute. That’s reality. Get used to it, snowflakes!

(2) You can’t afford to buy it on your own as a single person. In our day you decided to get married and bring two incomes to the table.

(3) You haven’t got a deposit so you have to save for one. This means you and your future partner opened a joint building society account and went without the simple things in life like going out every night with your mates, eating out instead of cooking at home, buying your coffee in Starfucks – that sort of thing. It’s called ‘making sacrifices’.

(4) After three years of saving, you went grovelling to the building society to apply for a mortgage. This was based on joint incomes, not a single income, and you had to prove by saving regularly that you (a) had a deposit and (b) could make the repayments. If you were very very lucky then you could get away with a 95% mortgage. 100% or higher was unheard of! 90% was the norm.

That’s how easy it was for us – which is why it makes by piss boil when I hear the entitlement generation whinging and bitching on about how it was so much easier for us and how they’re never going to be able to afford a home of their own. Reality seems to be something that simply doesn’t impinge on their view of the unfair, harsh cruel world that they’re living in.

In this life, you don’t get ought for nought. You have to earn it like we had to.

Get used to it…!

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12 responses to “Buying your first home…

  1. Our first house cost us or actually me, 18% per annum. I managed to reduce this to 16%. This was in 1981. Look at interest rates now. Snowflakes indeed.

  2. You missed the bit where you had to live with you parents to be able to save up in the first instance.

    • Yeah! We are the original boomerangs – except we never got to go to uni in the first place so we never left home until we married…

      Our music’s a bloody site better too!

  3. Oh how I remember the interrogation at the Abbey National with my good lady boss. Then they would get in touch with your employer to make sure the details of your income that you stated on the forms were true and not take into account any overtime payments. When you got your mortgage you had to take out house insurance with them, no options for alternatives then. On top of that they held back £500 until I fixed the guttering and chimney flashing, a lot of money then.

    • Bernard from Bucks.

      I also went to the ‘Abby’ way back in 1970. We had a £1000 deposit
      saved up on a wee £5250 home.
      “How do we stand for a mortgage?” I asked.
      Back came the reply –
      “You don’t. You grovel.”
      We got it. 😉

  4. Ah Granville. The good old days. 2.5 times the man’s income + 1 times the woman’s income. Only guaranteed overtime taken in to account. Maybe 6 to 8 weeks for a mortgage offer, obligatory Mortgage Guarantee Policy for which the borrower paid the premium – policy only paid out to the lender not the borrower. Retention to cover essential repairs which the borrower had to carry out before getting the retention released.
    Those were the heady days of power when it was good to be a building society manager – plus a job requirement to go out & get pissed with local estate agents & solicitors as often as possible.

  5. Effing snowflakes c*nts! I can remember that all I could get for a mortgage was 2.5 times my income, which in 1983 came to a massive 39K, and all we could afford was a 32K 2 bed house in Carshalton. Her income didn’t really count, cos she was a typist. And that was ex-council house. We moved to just outside Pompey on the back of selling that house for twice what we bought it for to buy a 3 bed semi. Aye. Fooking luxury – but by buggery we had to save every inch of the way when interest rates were sky high in comparison to what they are today. Twats don’t know they’re born. Oh did I mention we had to live with her Dad for 2 years beforehand, and got married, and then had kids. You know, all the right things in all the right order.

    Nowt is free, you have to work for the bastard – little bastard, EU loving, Trump hating snowflake SJW twats have it easy and they still bitch. M<ake your poss boil Dioclese? My piss has just gone critical!

    C*nts

  6. This is exactly how it used to be. My mum opened a building society account for me when I was 10 or so, and Grandma paid £100 a year in . When I started work, I was told to pay £10 a week in (which was one third of my wage at the time.

    I was told when you need a mortgage if you have a proven record of saving regularly you will be treated as a good risk. This all turned to shit when Blair turned them all into banks and they could not throw enough money at you

  7. Our first house in 1968 was a two bed terrace which cost £1000. Husband was on £18.00 per week basic. My wage was not taken into account. House price was much lower than 1 year combined wage. We went to a building society and asked for a refusal of a mortgage – this is true! – so that we could go to our local (Sheffield) City council and get a mortgage from them at a more advantageous rate..
    Similar houses in the area we first bought for £1000 are now £125,000-£170,000.
    Not many people in that area on 125-170k yearly wage now, or even joint wage. I think that is the problem – over-inflated house prices for whatever reason. Yes, we did save, we did not expect to start off at the standard of living it took our parents 25 years or more to get to, but I still feel sorry for the young ones nowadays with the out of reach house prices.

  8. Peter MacFarlane

    @Granville: “they held back £500 until I fixed the guttering and chimney flashing”

    Same happened to us, with a couple of refinements. Refinement (1) was “some of the window frames need replacing” Me: “Which ones?” Them: ” We can’t tell you, this survey is confidential to us” (Really, I am not making this up). Refinement (2) was that in fact “they” didn’t hold back the money, they gave it all to our lawyer (appointed and approved by them, natch, no personal preferences allowed), and it was HE who held onto it, earning lots of lovely interest, for the year or two it took us to find out/invent which window frames were defective, and get them sorted. Bastards!

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