If one of the reasons you want to buy a house is because to have to much stuff around the house so need a bigger house as you stated, that's give an indication that you spend money for material things rather than prioritizing saving money for deposit for a house. Have a garage sale and clear your crap out then you can rent a cheaper house and save money for a deposit for the future. If you haven't saved any before now, whats makes you think you can now. I bet your mother in law is second guessing offering the Guarantee (risk losing her home)only because of motherly instinct to protect and give daughter a what is perceived a better life. Materials don't make a better life. Life is what you make of it. Sorry mate but you will be stretched financially that may affect your relationship with your family, seen it many times over. If your interest on loan is bigger than rent per year and you get no growth on your property to cover it which i would expect in the next couple of years at least your very likely to go backwards owning your home big time. No rush save deposit. My two cents worth.
