looking to buy a house

HappyMJ

Bit too late for OP but why buy a 1 bedroom flat in the first place? I would never buy a 1 bedroom flat unless I knew that for the next 7 years (the usual break even point) that I would not want to move into a bigger place. That would only be when I have retired and the chance of a relationship and children will not ever be considered again.

I would only ever let investors buy 1 bed places and rent them to you so you can hand in 1 months notice and move on to a larger place. The profit to be made on it will be so small that it is almost never worth it.

The 1 bedroom flats near me originally sold new for £75,000 a few years ago. Many people thought they were a bargain at the time. They now sell for just under £30,000.

getmore4less

something else does not look right.

you say you have 28k paying £300pm thats a 93months over 7.5 years to go.

Normaly it is recomended to look at other options if a DMP woukd go over 5-6 years and you don't antisipate being able to shorten it.

What sort of DMP is this, did you DIY or use a company, was it a free one or one that charges fees.