Rubbishness....

This saving malarkey is hard work. I have just been checking out mortages I am eligible for, if I ever manage to save a deposit. This is a seriously deflating and disheartening experience. I have two main paths to choose. The first is the main government led one, names like 'Firstbuy' are being attached to this. They give you a mortgage for a very low deposit, as a sort of loan to help you get on the property ladder, on new buy property. Sounds ok right? Well in principle it would be, only that in my city, these estates are being built in the worst areas of the city, in a move probably designed to encourage someone, anyone, to go and live there. Call me a snob, but some of the areas I wouldnt live in if somebody gave me the house for free. If you ignore all that, it is a pretty good solution for those looking to start out, but its not for me. I certainly wouldnt live in any of these areas alone. Plus they are all miles away from my friends and family. A new property also goes against everything I've ever wanted from a house. I just dont like the uniform, plasterboarded, plastic windowed, red bricked, tarmac lined, square lawned look of it all. Also I think in years to come these houses will be virtually impossible to sell, so I couldnt even consider it as a 'for now' option.
So to my other option, which is find a 'first time buyer' mortgage, or low/no deposit mortgage. I've been trawling the internet looking at all kinds of calculators and tools. I've found that I'm likely to be able to borrow at a max £112k. This aint gonna buy me a huge house in my city. So then comes the deposit. Lots are looking at a minimum of 40%!!!!!!!!!!!!!!!!!!! FORTY PERCENT. Like 45 grand. How on earth do they expect anyone at all to be able to buy a house with those odds! Going by that It will take me at least another 5 years before I have anything like that kind of money. I'd still be at home aged 35! There are other options though. There are low deposit or even no deposit mortgages. Even so, reading the smallprint, most no deposit mortgages are not available to first time buyers. Catch 22 anyone?! So then there are low deposit mortgages, 5% etc. Lots of these are restricted to these new buy schemes, clearly Dave and his muppets want everyone to live in these shoeboxes for the rest of time.
This is just me scraping the surface of whats out there just now. Its like a minefield, with big massive mines. And whoever named it 'the property ladder' needs to get real. Ladders are generally 6-12ft high and the first rung is just centimetres off the floor. Climbing onto a ladder is fairly easy really all told. Todays market should be  The Property Pole Vault. Thats a bit harder. Even then you get a stick to help you though. The Property Moon Landing. The Property Black Hole Exploration. Those seem a bit more like it.
There are thousands of people in the same position as I am, it is highly frustrating. Especially if house buying alone. I am still determined to buy, therefore I cannot rent and save for my mammoth deposit, so I'm staying put for now, as frustrating as it can be. I'm spending my second consecutive weekend in, with my parents. I am at maximum saving capacity so there's no room for spending on nights out at the minute. It continues.....