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St Margarets (Twickenham) Rent or Buy
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adamL
Posts: 42 Forumite
Hi all, hope someone can help with my two questions as I would love to have my own flat but at the same time I will continue to rent if its cheaper.
I have about a 10% deposit plus fees which are in 3% interest paying ISA account (approx £100 interest pcm). AIP for required amount has been agreed.
Background:
I currently live in one of these above shop flats paying £1100 rent pcm - there is another currently on the market for £1100 pcm also. There is a flat on sale for £350,000. The flats vary slightly above the shops but not to a great extent and all flats in question are one bedroom leasehold (no details but presumably £50 to £100 pcm leasehold charges).
rightmove.co.uk/property-for-sale/property-46179952.html
rightmove.co.uk/property-to-rent/property-48488441.html
Picture quality is better on the flat for sale and it also looks like a wide angle lens. I have not viewed either.
1. What is the yield on this property - the one for sale?
2. Is it worth buying as a first time purchase?
All help is appreciated. Thank you
I have about a 10% deposit plus fees which are in 3% interest paying ISA account (approx £100 interest pcm). AIP for required amount has been agreed.
Background:
I currently live in one of these above shop flats paying £1100 rent pcm - there is another currently on the market for £1100 pcm also. There is a flat on sale for £350,000. The flats vary slightly above the shops but not to a great extent and all flats in question are one bedroom leasehold (no details but presumably £50 to £100 pcm leasehold charges).
rightmove.co.uk/property-for-sale/property-46179952.html
rightmove.co.uk/property-to-rent/property-48488441.html
Picture quality is better on the flat for sale and it also looks like a wide angle lens. I have not viewed either.
1. What is the yield on this property - the one for sale?
2. Is it worth buying as a first time purchase?
All help is appreciated. Thank you
0
Comments
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Another important question is if you are earning enough to get a mortgage for roughly 315k? At the usual 4 x annual salary needed, you'd need to be earning over 77K pa. As well as having enough for a 10% deposit, you will also need to pay for a solicitor, stamp duty etc. This adds up.0
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Posted in error0
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SMUGrets
Cheers!0
This discussion has been closed.
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