Another property market boom?

SmartGirl_2

RHemmings wrote:

Is that AIP for a mortgage at a fixed rate for the whole term? I wouldn't want to be coming onto a variable rate in a few years for a five times my salary mortgage. RISKY!!!!

It's fixed rate for 3 years. The mortgage would be in my name only, but my OH would be living in the same place, so it might not be as bad as it looks :-). Besides, my salary is still to rise, but one can never be sure about it!

lynzpower

RHemmings wrote:

Have you been mugged in London? I have.

No nor do I know anyone who has either

free4440273

friend of mine has bought a property in hampstead for £1.3 million, just under a year ago: 5 bedrooms, loft extension, three bathrooms, standard kitchen (nothing exceptional but nice), nice decent sun-room. dare i ask what he earns??? would i like to earn whatever it is he does earn??? yes please!!!

greencat_2

lynzpower wrote:

greencat, where abouts in East london have you seen those rises ( altohugh where I am in E3 has got more expensive I must say, the olympics and the crossrail, and east london extension all a bit to blame for that)

Doubling took place in Newham 2000 -> 2005 according to the local paper (and crucially before the Olympics decision).

I reckon Bow etc would be pretty similar (probably a bit more expensive over than period given the amount of new build which will distorted the average pricing). I lived there from 99 - 03 and the amount of new build that started going up in 2001/2002 was incredible.

Really makes you think - especially as my salary hasn't doubled and I've been promoted twice in that time. And oddly enough there don't seem to be many managers/professionals living in the Newham area.

greencat_2

RHemmings wrote:

Have you been mugged in London? I have.

Me too (twice). And a housemate of mine when I lived in E3 managed to stop an attempted rape near the Bow quarter.

I like London for many of the reasons lynzpower mentions but it's not a safe place.