Thursday, April 2, 2009

Missed the boat again

Before i start, yes this is only about a buying a house, and i know us and our kids are healthy and currently we have a beautiful place to live, even if it is a rental, God is good and we both have work unlike alot of people right now, so i do have perspective and i also know God has saved us from buying at the wrong time before and he provides all we need, i know...i know, but i cant help being really frustrated... this is why

So we have been married just over 4 years and have moved house 5 times, mostly due to renting, landlord selling etc, and the last few weeks we have been looking into finally buying our own home(again).

This started actually just after we got married, we tried to get a home loan but as Duncan had only jut got his qualification they wanted at least 6 months to a year work history the plans went on hold. so we moved fom our apartment to a house to accomodate our growing family.
By the time the work history was not an issue we tried again but house prices were rising and we were told our income would need to be much more. and we would need a deposit so we moved in with duncans parents to save.
So Duncan worked harder and made more 6 months passed and we applied again, but house prices were on the up again, as well as interest rates and we were told we needed 2 incomes- good luck i was like 9 months pregnant, and we could not fit as a 4 person family in their back room so we rented again and moved again.
Then the landlord decided to sell just as our lease was up so we looked into the shared equity scheme our friends had just signed up to. My brother passed away and it took a week or two for me to get around to calling, finally i did only to be told, im sorry, the govenment as exceeded the budget for that scheme and it is no longer available. so we moved again, to another rental.

and here we are about 6 months later. house prices are down, interest rates are way down, market is good and i have a job now too... great time to buy right, so i call the mortgage brokers. "Sorry there are new restrictions and banks are no longer doing 100% loans, one or two do 95% so at best you will have to have a minimum of about 20000 deposit , plus fees and mli to get any kind of loan" oh when did this happen because my brother in law got a loan like 3 days ago... "oh yeah its only from this week this has happened"

i am not going to write any more because if i do it will possibly contain a swear word.


  1. Oh Tara,

    That sux. You can call me and swear all you want :) Anytime ;) I will speak to you soon x

    It will be ok


  2. I feel your frustration! I would love to own a home also. I try to remind myself that God's timing is always I said....I try....because sometimes I fall flat on my face and get down about the whole thing. You are not alone. Just keep on keeping on...God is faithful :) xx P.s. Go ahead with the swear might make you feel better! lol

  3. thanks guys, i would feel worse if i swore than i do about being denied the home loan again :) carly- looking forward to wednesday, just got a call about a Sunday times interview...