Monday, 11 November 2013

Lloyd's - The first mortgage ad I ever noticed

As a first time buyer, the recent Lloyd's ad really caught my attention. It's the first mortgage-related ad that has ever done that, most probably because it has been obviously targeted to people in their 20's, like me.  Take a look...

So the guy has reached the point where he is fed up with the critical comments, the incessant questions and constant nagging that comes with living with his parents whilst saving to buy. At times I have too felt like this so I can relate to it well (apart from being 31 of course...) You generally feel quite hopeless.

I'm sure most twenty-somethings still living with their parents will be drawn in by this familiar scenario, so the light at the end of the tunnel seems brighter when Lloyd's announce their first-time buyers scheme. Lloyd's make it sound ever so simple, '... I got a nice little place of my own with my own deposit, and some help from my parents.' Well, based on my experience so far, it's not that simple, but it's still a very hopeful ad that makes you feel like someone has your back. "Finally, a bank that understands me!"

At the start of 2013, Lloyd's announced they were committing 6.5bn to helping people get onto the property ladder this year. Their first time buyers scheme means they will lend you a massive 95% of your mortgage, as long as your friend or relative opens a saving accounts that holds 20% of said mortgage. These savings will be tied up for 3 1/2 years during which time they will get a fixed interest rate of 3.5% - that is, of course, unless the borrower fails to pay their mortgage payments, in which case that money will be taken from the account of the overly-trusting friend/parent.
So basically don't do this if you can't rely on your kid to pay their mortgage.

I will be buying a place alone and have worked hard to save as much as possible before that happens. However, I would not be too proud to ask for help if it was offered to me. I will definitely be checking out Lloyd's Lend-a-Hand scheme, plus any other ways that makes this process as painless (on my bank account) as possible.

A great ad that ends nicely and actually makes me want to find out more and act on it.

Sunday, 10 November 2013

Today I made a cake

What other way to spend a lazy Sunday than channeling that creativity into making a scenic cake!

Calorific AND fun - what could be better?

However, I free-style recipes and have severe lack of patience. Do you really have to sieve? Do you really have to wait for the sponge to cool before applying the icing?

The aim was this:

The reality was this:

Didn't bother finishing it. Never baking again.