Relative values, becoming very introspective.

Gabrielle56

1976 Bury Manchester outskirts. Newbuild flat £5500 0%deposit borrowed from the builder at extortionate rate!! 3 years on 1979 sold for £8250 bought house in Chorley £14995 to avoid stamp duty paid £5 for 'built in wardrobes ' ....was a plank over bulkhead🤣 our seller a solicitor who managed to avoid all agents fees by taking off market then selling to us privately all above board but clever! Sold for£198k in 1999 . Current home large 3king beds detached still Chorley bought 1999 84k today? 300k ish.....crazy world wish I could go back to 176 knowing what I know now!!

10% deposit!!!!
Editing tool please!!!

Around here, anyway, the rent young people have to shell out for a flat, is often more than the monthly mortgage payment would be. The problem is saving the deposit - and with a nothing at all special 2 bed flat going for £500k or more around here (and I’m not talking anything like ‘prime’ areas) it’s a substantial amount to have to save when so much is going in rent.

Around 8% of UK land is built on!! Lots of spaces are non runners but it's not as much as the nimby army imagine.....had nimbyism been live and kicking in middle ages we'd have ZERO quaint little villages or towns or roads or churches in country settings, no country mansions etc etc. The thing we need to mimic is the way that a whole community was created not just a few badly built trashy "executive 4&5beds" with a dismal parade of booze n news shops to service! Are we incapable of creating a traditional high street any more?

My town! Complete with station shops commercial units and garage! .......I wish!

We moved 18months ago, estate agent purple bricks £1,000 if paid up front,Solicitors £2,000 & 2 removal lorries £1,500. I live in East Midlands. Fortunately we avoided stamp duty which is now back.

The price of housing is so expensive now compared to earnings for young people. Many of us managed with second hand furniture and had to save for expensive electrical appliances.

I remember finding a wages/salary slip or my dad's in about 1962? It was £180 for the month! He was a civil servant so a pretty stable 'good' job. But, and it's a big but with a chicken at about 7/6 a treat for Sunday, ingetvfed up of younger gens moaning that we "had it easy" and "took the best out of the country,leaving us with nothing" whatever we've now got- Pensions etc we damned well paid through the nose for and did without almost everything!! Maybe if younger lot started to stop buying rubbish they don't need with money they don't have? They too could make something of themselves and I'm not berating those who try very hard with a poor start in life, maybe those for whom that holiday and latest gadget is a must! All those 17-30 year olds driving around in leased brand new cars...........

faye17

We bought our first home in 1978 paying a deposit of ten percent. The monthly mortgage payment over a term of 25 years was £137 which was my monthly net salary exactly as a student nurse at that time.
To buy a similar house here now over the same number of years with a 10% deposit paid would require a £2400monthly mortgage payment .
To my knowledge that is approximately a student nurse's net monthly salary too.
So when young people say you got your house for pennies I have to beg to differ.
I do feel for young people trying to buy a home but I also think young people expect a lot more a lot sooner than we did.

Student nurse GROSS salary=£21k work out how you get NET salary as £2400?

1 X fillet steak= £8?
1 X big mushroom= 4p
1 X stem baby toms= 40p
8 X big fat chips= 6p and that's being daftly generous
Fuel to cook? About 10p
Staff costs rents maintenance? The balance left.....worth driving out parking sitting at table eating in public, driving Ng home and finally being able to kick off shoes and undo trousers!!!! Nah! Rather DIY!!
And a really good fish and chips cooked to perfection? Priceless!! Yum!

If it was £180 per month net after tax and NI then that was a relatively high salary for 1962, especially for the Civil Service which was renowned for low salaries. He would also have been part of a non-contributory pension scheme, probably paying just 1.5% for a widow's pension.
Women got their pension contributions refunded on marriage in the form of 'a gratuity' which was really a scam.

Gabrielle
Student nurse salaries vary from place to place and some may well start on £21k a year.
I was a third year student nurse when buying our first home and so was on the equivalent of £24k net.
My salary in 1978 of £137 per month was often exceeded because of mandatory overtime & night duty which again to my knowledge would still be true today.

Got it! It seems an ok salary to start with, I bet it soon becomes unrealistic once they start loading up the responsibility without upping the pay though?

Witzend

Around here, anyway, the rent young people have to shell out for a flat, is often more than the monthly mortgage payment would be. The problem is saving the deposit - and with a nothing at all special 2 bed flat going for £500k or more around here (and I’m not talking anything like ‘prime’ areas) it’s a substantial amount to have to save when so much is going in rent.

It's a crippling situation for even the hardest working/ well qualified furst-time home buyers

Gabrielle56
Got it! It seems an ok salary to start with, I bet it soon becomes unrealistic once they start loading up the responsibility without upping the pay though?

Par for the course in the nursing profession Gabrielle and unfortunately continues today.
Of course there are other rewards - they just don't pay the bills

faye17

Gabrielle56
Got it! It seems an ok salary to start with, I bet it soon becomes unrealistic once they start loading up the responsibility without upping the pay though?

Par for the course in the nursing profession Gabrielle and unfortunately continues today.
Of course there are other rewards - they just don't pay the bills

No student loans to pay back in those days either.

Caliatemon21

faye17

Gabrielle56
Got it! It seems an ok salary to start with, I bet it soon becomes unrealistic once they start loading up the responsibility without upping the pay though?

Par for the course in the nursing profession Gabrielle and unfortunately continues today.
Of course there are other rewards - they just don't pay the bills

No student loans to pay back in those days either

In my case we worked our first three months for no salary to pay for our time in the classroom over our three-year training so while we had no official student loans most of us young student nurse's had to borrow just to live for those three months.