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How a young couple on just £30,000 between them bought their first home for £220,000 before turning 21 WITHOUT help from the 'bank of Mum and Dad' (by giving up nights out and living on beans and noodles for a year) (6 Pics)

A young couple have revealed how they snapped up a detached three-bedroom house worth £220,000 before reaching the age of 21 - with NO help.
Indeed, Nathan Doe and Tyla Stanworth, from Newport, say they climbed onto the property ladder last June without any financial help - and are now even planning to pay off their mortgage by 40 and retire from work at 55.
The couple have lifted the lid on the sacrifices they made to secure a deposit which include shunning pubs and restaurants and feasting on noodles and baked beans, Wales Online reports.
Nathan, 21, said: “We were living with my dad for a year, that was our base, but obviously had to pay him rent.
“We really don’t drink and don’t go out partying.”
According to mortgage lenders Halifax, the average age of a first-time buyer in the UK last year was 31.
Think tank the Resolution Foundation this week warned generations of young people face renting for their entire lives.
Tyla and Nathan have been working full-time since they finished school but both enrolled in apprenticeship programmes which allowed them access to their preferred career paths.
Nathan now works as a train planning and diagramming specialist for Arriva Trains Wales and Tyla works in the facilities and finance team at Qualifications Wales.
While they were busy saving their combined income was around £30,000 a year.
“Deciding to buy the house did mean that we had to make sacrifices as the majority of our combined wages went straight into the savings,” Tyla, 20, said.
“We never went out, our shopping lists consisted of noodles and beans, but in the long run it was so worth it.”
Nathan said they saved their £11,500 deposit by putting money into a help to buy ISA. But after stamp duty and other costs Nathan said they spent something in the region of £25,000.
They also benefited from a help to buy equity loan – a five-year interest free loan which paid for 20% of the cost of the house.
Tyla said: “It was a goal we wanted to achieve pretty much as soon as we got together – Nathan already had a help to buy ISA set up and then I set one up myself.
“We put in £200 each every month and got £50 back from the government so we were getting a free £100 a month.”
The couple hope to pay off their loan before the interest-free period is up but believe the house has also increased in value by about £20,000 since they purchased it last June.
“That should mean after five years of owning our house, at the age of 25, we should have at least £80,000 of equity,” Tyla said.
Now in their full-time career roles the pair are now bringing in a combined household income of around £50,000 a year and are busy planning their wedding in September this year.

The £10,000 cost of that will also be paid for out of their own pockets.
Nathan said: “I think the biggest thing is if you want something enough and you are prepared to make sacrifices for it anything is possible.
“We want to go on big holidays and travel the world but at the end of the day there’s nothing better than going home to your house and it’s yours.”

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