Hello!  New member here. I sympathise with all potential FTBs as a result of the housing situation. My story was a bit of an arduous one.

Went on the council housing list at the age of 23. It fuelled my interest in property and started to look at property for sale. Realised how much more expensive property was since I did work experience in an Estate Agents back in 1993.

Saved up a bit of money, still not a great deal to put towards a 5% deposit for a small flat though. Looked at a few modest flats for sale but realised I just could not afford them.

Lost patience in late 2003, early 2004 and decided to rent a lovely small flat privately for £395 a month whilst staying on the council housing list. The agent was a bit apprehensive as it was a little over 3 x my income at that time. Never had any trouble paying the rent as I lived fairly modestly.

Later on in 2004, my sister was looking at property in an Estate Agent's window and told my mum about a flat she saw for sale on the very estate on which we grew up on. It was on for £67,500 - a 1st floor, ex-council flat. It needed quite a bit of work doing to it, otherwise it would have been on for about £80k  at the time.

Told my mum and dad that the only way I could afford it was for them to lend me a 10 % deposit, and even then there was a case of borrowing the other 90%. They agreed. The flat was a wreck inside. Decided to put in my one offer for £64k, which was accepted the following day (I wouldn't have paid any more for it). Used the same broker who sorted out my sister's mortgage, and he managed to secure me the funding - some miracle!

Completed 3 months later. The 1st two years were a struggle, especially as I was out of work for a few months and I had to borrow more money from my parents for urgent works. New central heating, double glazing and kitchen. In the next month I am due to have a new bathroom fitted which I will pay for out of my own pocket.

It transpires that my current employer, who I have been with for 20 months, have cocked up my tax code, and thus I have been paying too much tax from my salary!

Although I am on the property ladder, it had come at a big cost. I still have to repay my parents £6400 for the deposit, plus the extra for the renovations. However, I would like to see property be cheaper to buy as moving to a larger property will mean a larger propertion of borrowing.