Making the decision

My in laws live in Clacton on sea in Essex and bought a new build house there. We were really impressed with everything. 

For a while we as a family have realised that owning our own home is not going to happen, our rent takes over 50% of our income and once bills have come out there is nothing left to save, saving £20 a month would take 125 years to grow to £30k. 

So we were amazed when we heard that new developments are asking for 5% deposit, government will give you an equity loan for 20% and then just a 75% mortgage to negotiate… Do able??? 

Or still a pipe dream? 


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