Sometimes I feel like I am the only one who doesn't have a mortgage

[alicecooper]

mortgages are very scary. I should know - we couldn't afford to pay our last one and nearly got repossessed!|
I've never rented, but If I had to, I would prefer to rent than have a mortgage again, because if you get repossessed that's it, your house has gone, all that money you put into it just totally guzzled by the bank, and then they sell it dirt cheap at auction and you STILL end up owing the bank money for a house you no longer own!

(This happened to my car - that DID get repossessed in December 2009 and I'm still having pay them monthly £21.35 because they sold it so flipping cheap at auction that it didn't even cover the amount of car finance I had taken out to buy it in the first place).

 

[highhopes19]

I don't rent or have a morgage according to my sil I like to have it easy "ponce" off my mum and dad and live at home

The whole thought of mortgages really scares me... Can't wait to have our own place though

Xx

 

[dgirllamius]

We don't have a mortgage and I don't think we ever will. It's more common to rent here than to own.

If anything goes wrong with the flat then it's not down to us to pay for it to be fixed, we can do what we like with the flat as long as it's put back to it's original state if we ever decided to leave (which I don't think we will because we're in the perfect location). Our heating is included in our rent and our rent isn't that much considering what we get for it. We only have to worry about the electric bill. We don't have council tax either.

If we had a mortgage we'd have to pay for our own heating, any problems that would happen etc. Sod that

 

[Mummytobe85]

I wouldnt worry too much hun, we got a mortgage and most of our friends rent as they cant afford to buy a property. We never make a biggie out of it but we were lucky to get a mortgage when DH and i were 24...

My SIL and her partner earn loads between them but they said they'll never commit to buy as they find it daunting and happier renting and my old friends parents have always rented off the council and never brought their property x

 

[ShanandBoc]

We rent!

OP, Dont let people make you feel bad, im just thankful we have a roof over our heads. Many people in the world dont even have that

Just focus on what you do have and the things that money cant buy, they are the most important anyway xx

 

[bumblebeexo]

I'm incredibly lucky because we don't rent or have a mortgage. When OH's Granny passed away then we got the house. We both have full-time jobs (I'm on maternity leave just now though) but I know if we had to rent or have a mortgage we'd struggle!
There's nothing wrong with renting. If we hadn't been so lucky then I know we would be too. A lot of other people have shown a lot of advantages over renting too. I quite like the idea of renting, because if you wanted to move then it would be so much simpler than buying/selling property!
I know some people 30+ who still live with their parents because they can't afford to move out.

 

[morri]

most people here rent even if it sucks.

 

[Mazzy17]

We rent and we are saving..not just for mortgage.

Stupid thing is the mortgage would cost £250-£300 less than our current rent. We have to get a massive deposit which is not going to happen soon...no matter how much i invest in national lottery!!

 

[WelshOneEmma]

We rent - I will be 34 in January.

It will be a while before we buy as need a deposit. The only reason my sis was able to get a deposit was because she qualified for the key worker loan.

We have been in our house 5 years now and quite happy in it. Decorated it how we want (landlord pretty flexible). Main reason for me though is because I moved up to Berkshire from Wales and the house prices up here are stupid and to get a decent house we need a big mortgage, which will be a while in coming!

 

[Nats21]

To be honest the best thing about renting is if big things go wrong it's not up to you to foot the bill! Our boiler was poisoning us and our immediate neighbours a few years back, it ended with us getting a brand new boiler, if we owned we'd still be paying that off now and would've probably needed a loan to fund it! Also our windows are knackered so hoping next year they replace them (if they don't I'll be looking at taking them to court as they are no longer safe and a danger to our health but that's a whole other story!) again if we owned we'd have to either live with it, save or get into debt to replace. There's pros and cons to both sides imo. x

There is a downside to this though, last year in november/early december our boiler went and it took 3 and a half weeks to sort out. We had to keep ringing the estate agents who kept fobbing us off, we went to live at my moms as it was just to cold to stay at home, if it'd been our boiler then at least we could of sorted it out a lot quicker. Plus he did end up paying to get it fixed but the engineer told me that it'll just go again as its quite a crappy old boiler so if/when it does go again we'll have to probably sort it out all over again xx

 

[lhancock90]

We rent hun

 

[beth_terri]

I'm only 21 and my oh 25. We rent but I honestly don't ever see us buying. We can only just afford rent!

 

[Mummy2B21]

Dont let it bother you hun, it will all come together.
Most people I know bought there house at 21-25, it doesnt matter what age aslong as you have a roof over your head.

 

[nugget80]

I'm 32 and oh is 40 and we still renting, although we in a council house. Hoping to buy once im finished united next year as with discount is only way we can afford...! As lots have said renting has advantages, our boiler was condemned earlier this year and had to have new central heating and boiler put in which would have cost a fortune!

 

[hawalkden]

I feel the same too. We rent and we have a 2bed but got a one year old boy and 2 month old girl and i'd like mine and Ohs bedroom back instead of a moses basket or cot as an added piece of furniture. But due to Matilda still having night feeds we cant let them two share because when she wakes all hell breaks loose and she screams so Isaac will wake up.
We pay £360 a month rent and we know the owners very well. We have very little at the end of the month and cant even get food for us some weeks after paying for baby food and milk.
I'm 22 and OH is 26 and out of our friends we have one who have a mortgage so in that sense we don't feel so ah we need to get onto the ladder but like you said I feel like I want to buy loads of stuff for the house (when we have money) mainly if we had a 3 bedroom id spend money on the kids rooms. But now I'm looking at white walls and no curtains just blinds on the window.
Also when I go round to friends and family homes I feel like I want what they have.
This year is a no no for starting to save up due to a double christening and hopefully a small cheap and cheerful wedding for me and OH. Plus saving starts for Isaac and Matildas bday and xmas presents etc.
so yeah swings and roundabouts at the moment and even worse when people cant even get on the ladder with the harsh mortgage agreements etc

 

[Pearls18]

I've never understood the "throwing money down the drain" thing, ok a house is an investment so you eventually get a return -hopefully- but how can you describe keeping a roof above your head as a waste if money lol?!

I desperately want to own but it just isn't right for us ATM, it's not as safe these days to jump into a mortgage as it used to be, we have to move a lot so could be risking negative equity.

 

[xJG30]

We don't have a mortgage.

 

[CareBear]

Thanks everyone, I think it's more how I feel left out and some people with mortgage's attitudes that gets me. I am usually quite happy renting, I will just concentrate on all the advantages to renting, and I might even remind people of them the next time they start talking about mortgages and house buying!

Haven't read all the replies but next time people start going on remind them that when their boiler breaks they have to sort out repairs and pay for them whereas all you have to do is phone your landlord or rent agency!

 

[jenny82]

We own a house and its shit! We can't sell the bloody thing either so now we're renting it out and renting ourselves. I honestly wouldn't have it any other way as I love it. Owning a house is not the be all and end all!

 

[ellismum]

I've never understood the "throwing money down the drain" thing, ok a house is an investment so you eventually get a return -hopefully- but how can you describe keeping a roof above your head as a waste if money lol?!

I desperately want to own but it just isn't right for us ATM, it's not as safe these days to jump into a mortgage as it used to be, we have to move a lot so could be risking negative equity.

Completely agree. My parents sold up and downsized this year paying cash for their new property as my dad had cancer and they couldn't afford their 3 bed that they'd owned what with him being the main bread winner and off work for 3 years. It's taught me that you can not rely on your house being your pension/child's inheritance and that having a secure roof over your head is more important.