Help to Buy? I need the Help To Stop Buying Scheme

I was shocked and depressed in equal measures when I heard today that the average deposit in the UK for a first time buyer is £32,000.  As one of the very few people that I know, who – shock horror- is still renting, this is an alarming fact.  I admire those people who have slogged their butts off to slowly scrape together a mountain of dosh to be able to get on to the first rung of the golden property ladder. I envy those people who have parents that love their children so much that they give up their own dreams for retirement because they want to help them achieve financial security (or decide that they just can’t tolerate the idea of living with their children for the rest of their lives and give them the deposit.) And a gentle kick out of the door.  

My husband and I don't have a generous benefactor, but to be honest we don't really need one.  Our salaries, although modest by some standards, are ample enough to save a half decent deposit.  Not £32,00 I might add but in Scotland that’s not entirely necessary. Like most first time buyers, we are eligible for some of the admittedly very good schemes that the government has introduced to help people achieve their ownership dreams.

The problem is that before our little sproglet, Logan came along, we spent our 20’s lavishing our hard earned cash on luxurious holidays, expensive jewellery, expensive glossy furniture (to make our rented place our own) and enough shoes to make Imelda Marcos jealous. We had the philosophy that we were young and needed to enjoy life before settling down.  And now it’s really hard to stop spending.  In addition, we are paying a fortune in rent. 

‘We really will save a deposit now that Logan is here”. That’s what we say every day but like most renters out there, we are in a Catch-22 situation.  We love the home we live in.  It’s new, it's the right size for us and it’s in the right location.  It’s also about £350 more a month than we would pay with a mortgage. In fact, we could double the size of our house if we were able to get a mortgage with the same monthly outgoing.  We are also only secure for a year at a time as there is no guarantee that the current owner won’t sell at some point.  There are positives, of course.  Boiler goes – phone the man.  Roof collapses – phone the man.  Want to move to a new area ? Phone the man; say we’re out of here..  There are a lot of good things to be said about renting but ultimately this never be ours.

So while we desperately try to heave our way on to this ladder, which for us will really only ever be a step, we will have to accept that Susan’s Sunday Surprise can be just as tasty as a Domino’s, even though we know that the only surprising element is that it was edible at all.  Tesco Clubcard points will be boosted to the max and whatever restaurant offers the best deal will be the rendezvous point for date night.  We will buy only anything that is absolutely essential to the point that the Extreme Couponing ladies off the telly will be calling us for advice.  We will scrimp and scrape because we understand that, fundamentally, it’s better to have something to show for your hard work, somewhere to live when the pitiful state pension could not support renting a hut, something to leave those closest to you.

When I look online, I don't need adverts telling me I can get Help to Buy.  I know how to do this and very well. I need the Help to Stop Buying Anything That Isn’t Made Of Bricks and Mortar Scheme. Alternatively, Logan can inherit my shoes when I go.  There are enough of them to build a house anyway.