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Buying council property

Hi, I need as much advice as I can get from you people. Me and my DH just got right to buy our council property. We got the price and for London price is ok plus we got discount(council also gave as appr. price for future works on building). For us this is the only chance to get on property ladder. Now can you give me advice what I should be careful of(as this is council flat), which morgage would be good for first time buyer and does anybody know how much a morgage of 115 000 would be a month. Thanks very much for help as
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