Stuck with not knowing what to do

Ruskino

I live in Reading, Berkshire, in which real estate has become unaffordable. I have a 10k savings. I can save 10k per year and current salary is 28.8k.
I'm living with my partner in her property. So, with my salary and 10k, am I best off buying a buy to let in a cheaper upcoming city/town (like Birmingham), or something different? Any advice would be very much appreciated.

Caz3121

BTLs would normally require a 20%+ deposit, so a £10k deposit may help with a £50k property (is that the type you were looking for?)
Also the majority of BTL lenders require you to already own (outright or mortgaged) a residential property. If this would be your first property there will be few lenders so you would likely need to find a broker to assist to see if they can find one

Ruskino

I didn't know that. I was looking at properties upto 125k. Would it be more sensible buying a home and using it for storage /ad a holiday home just due to rising house prices, or spend a year or two saving 10/20k?

Thrugelmir

Where do you work?

Ruskino

In Reading, for the local authority.