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If you are in a good school and want to get on the ladder than go for it. Hang back and see if you can get it for the least amount possible obviously! Even if we have another crash, I don't think London will sit in negative equity, it is a simple case of supply and demand.
My poor DH moved out in his parents house in EMerson PArk in his mid 20's to Tilbury as that was all he could afford...the crash happened in the 80's and he sold 11 years later at a loss of 5K. Bless him we have more than made up for it with our Hornchurch house.
The Elm park house is close to a train station and in zone 6, plus you will live there at least another 6 years if she is in reception. I highly doubt you will sit in negative equity, I think the only place that would happen is HArold Hill....0
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