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You're probably already aware of this but, unless your CC debts are on a zero % card then there's not much point in saving until you've paid them off. The interest on CC debts will be much higher than anything you can earn from savings.
When I bought (6 or 7 years ago) the problem was all about getting enough of a deposit to buy, now it seems to be back to not enough of a salary multiple (even though monthly payments could well be less than rent). I know that I wouldn't be able to afford my place now which is a bit crazy.
aggi-
Fortunately my CC debts are on a 0% credit card. And I definitely hear that financially there wouldn't be much point doing it if I had an APR to pay back. But psychologically I think there's something to be said for having a separate deposit in a separate account - I think it focuses the mind.
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A colleague just told me yesterday why don't I look at 30, 35 years + mortgage to make my monthly repayment a bit easier... I truly did not know how to respond... As like you said, my potential monthly repayment would be less or about the same as the rent I am paying now...
ReekBlefs
ExTra
As soon as I hit £40k I started being able to save as well - I still need to pay back all the CC debts that I lived on when I was on £30k but a tleast I can see those going down and my savings going up. But yeah, she's on closer to £20k and it's just...I can't see it happening.
Squatting / guardianing is actually not a bad idea. My parents live out in Dagenham. I know they'd be OK wiht me crashing them for a few months which is an option a lot of people don't have, but I know my missus wouldn't be up for it. On the other hand my feeling is that pretty soon we won't even be able to afford rent in Clapton so it's either sacrifice a bit and buy a place now or wait ten years to be kicked out of London altogether.