Any reasonable property prices in the London area??

WalkinX

Well I was just pointing out how the recession started.

late 20's and I don't think it's unreasonable to get something ok (not grand or amazing or even very good) when you have been working for years, did the education system, got results, not got a criminal record, paid taxes and be a decent citizen.

Might as well be a drunk, drug taking scrounger and get free place from the council and get your bills paid for.

Trust me, London was not my first choice. I am here becasue my partner lives here and won't move.

WalkinX

Anyone see the "Tongiht" show last night?

A couple earning a combined income of 60K and a 10% deposit could get a maximum mortage of 140,000.

That sucks.

People were on there earning more thenme and they were sayint they was locked out.

Apprently if interest rates go up one percent it would be cheaper to rent then buy!

FTBFun

WalkinX wrote: »

Anyone see the "Tongiht" show last night?

A couple earning a combined income of 60K and a 10% deposit could get a maximum mortage of 140,000.

That sucks.

People were on there earning more thenme and they were sayint they was locked out.

Apprently if interest rates go up one percent it would be cheaper to rent then buy!

There's a critique of that show on the debating board. I have a feeling you know this already.

Investor88

Hi WalkinX

I noticed that you mentioned Thamesmead... I bought my first property there back in 2005 (I was 27), a 1-bed cost £123k. West Thamesmead is pretty decent (stay away from North) and there are buses every 5 mins to the stations.

The crime rate in the area did not put me off as I really wanted somewhere of my own, and to get on the ladder. The property went up, I took some equity out and bought another place down the road.

5 years on, I am on my third property from mad saving and I can finally say I am making money on rent.

The point is... you need to start somewhere, and Thamesmead is not that bad. (I am a small petite girl and nothing scared me when I was living there, in total for 8 years).

Seriously, it is NOT easy to buy property in London especially on your salaries and you really need a decent deposit to be taken seriously by the bank (min £30k for a £150k property)

Good luck, i hope you find what you are looking for.

WalkinX

FTBFun wrote: »

There's a critique of that show on the debating board. I have a feeling you know this already.

Nope.

Not been on that forum today.

On anothe rnote I tried using the new mortageg caluclator on this site - didn't work.

hazyjo

I'd suggest you see if your GF's salary would be taken into account before doing anything... Has she had a regular (monthly) income for the last 12 months?

Jx

Running_Horse

OK, lets get this straight...Life's not fair. If it was we would all be living in detached houses in Highgate.

I was in exactly your position in the late 1980s, with people saying houses would be unaffordable for most people forever. I wanted the security of my own place and found a way to make it happen. For me it was getting a better paid job outside London and buying in a less fashionable area.

What changes are you willing to make to your lifestyle and expectations to make your dream come true?

FTBFun

WalkinX wrote: »

Nope.

Not been on that forum today.

Apologies - I've seen similar content in some of your posts before about buying from there.

I think you both need to look at coming to some compromise before you purchase. You do have the benefit of being fairly young so there's no major rush just yet.

WalkinX

Willing to compromise and not rushing into anything in fact as much as I am talking buying now we aren't going to buy until probably mid next year at the earliest but I figured I better look up areas and prices and mortagegs before we do anything so we have a better idea.

I am willing to go to a less fashionable area, fashion doens't come into it for me, I mean I don't want a crime addled hell hole sure but other wise fine.

I am taking into account a number of things - intial price, extras, mortageg, cost of commute for work and future plans.

I put my gfs wage into the calulator but it says 0....

Thanks Investor 88, good to know Thamesmead isn't as bad as some suggested.

I have now posted on the debate forum.