FTB How To Get Viewings & Where To Buy in London for £220k.

strawberries1

Hi everyone,

I have a few questions below and will be most grateful for your advice please.

I've been looking to buy my own property for about 3 years but every 4 months or so I end up having to consider a less desirable area costing more than the area I'd been looking at previously as prices rise. In addition I'm looking to change jobs/career in the first quarter of 2015 and so I'm working towards find a property to buy within the next few weeks. I will be most grateful to receive suggestions for how to find an ideal property in a time efficient way.

Is it customary to see the EAs Mortgage Adviser in order for the EAs to take one serious? I was interested in viewing a couple of properties advertised by Bairstow Eves but the EA insisted I speak to their Mortgage Adviser before I can view their properties. Upon speaking to the Country Wide MA I asked for a decision in principle but he says he'll have to run a credit check which I resisted as it will leave a foot print on my credit file and I don't want to do anything that'll adversely affect my credit at this time. I have my noodle credit report but he insists that he has to run the check in order to make the application. I'd already spoken to a MA at London & Country and he'd given me a decision in principle but the Bairstow Eves EA said that they show properties to those who see their MA before showing to anyone else as that means those buyers have been prequaified. In your experience is it wise to allow Bairstpw Eves/Country Wide do their full pre qualification which will leave a foot print on my credit profile in order that I'm showed their properties before they're advertised?

I'm looking to buy a two bed property with easy commute to Liverpool Street and Canary Wharf. It won't be a forever home and I hope to move and rent it out in about 2 years so I think I should look to buy a flat instead of a house and it should be near a station.

So now to the hard part, I'l like to stay north of the river but the cheapest place I can find is the dreaded Dagenham! Why is Dagenham looked at negatively? I'm also looking around Seven Kings, Goodmayes and Chadwell Heath. I've only ever lived in Wembley and Enfield so I'm not familiar with the east but I'm convinced it will appreciate in value in years to come. What areas do you suggest I look at with a budget of £220,000 for a two bed property in London?

I'm looking to change jobs early 2015 so I will be most grateful to receive advice as to how to get viewings as quickly as possible.

Thank you!
Apologies if wrong thread.

Rambosmum

The estate agent's mortgage advisor will hound you like a rabid dog, but stay strong and say no! You don't need to see them for the estate agent to take you seriously, they are just tying to make more money off you.

You need to get a whole of market mortgage advisor, such as London and Country, who I think are great (and MSE also recommends them). Tell the EA that you are happy will your current mortgage advice.

Pick an area and get seriously looking, as you've found, prices are on the rise, pick a house you like and go for it- bearing in mind your changing financial circumstances etc. Have you looked at how much you can borrow etc yet?

dell12

There's no harm in providing proof of funds to a mortgage adviser, but you shouldn't feel too pressured to use them however much they push.

Large areas of Dagenham was built in the 1960s, as the largest council estate in the world. Barking is probably the better end of Dagenham, but as I'm sure you're already aware Crossrail will follow the route of the existing, shoddy East Anglia service into Liverpool Street from 2018. I'd suggest that any price growth has probably already been factored in, but it will make a flat pretty easy to rent out.

There's another thread here which is worth a read.

strawberries1

Thank you for your responses. I did some googling and found out that it's a big council estate. I've been there once but remember seeing just houses not flats.

I did speak to L&C, that's how come my budget is £220,000.

Thanks for the link; it's for the West (SW & NW) which is the opposite end of where I'm looking.