Buying a house now might well put you into so much negative equity by next years that your dreams of flying training can never come true.
Given the life choices of either buying a first house OR spending a chunk on flying training then I would go with the latter.
I'm so confident of a house price correction that I've sold to move into rented. There are so many properties To Let that rents are lower on my street than they were 6 years ago.
40% of all fixed rate mortgages will come out of their fixed rate by October. Most were two year fixes made at rates around 4.5%. My Mum works for a well known bank. The combination of loans, credit cards and massive monthly mortgage commitments takes her right back to 1989... With mortgages of 5 times income and lie-to-buy self certs it won't take 10%
Interest Rates this time. 6% will be plenty.
This will have a significant impact on Wannabes. By this time next year you may well find the numbers enrolling for flying training at all levels will be down sharply. I estimate at least half of all flying training is funded by Mortgage Equity Release.
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