Buying apartment outright...

AdrianC

You've been working full-time for two and a half years since you left school, and you already have enough saved to buy a flat without a mortgage?

Congratulations.

I'm presuming that you're in a very low property-cost part of the country, which usually means a fairly depressed area. You clearly have a lot of drive, energy, and ability. Do you not have any ambition to move elsewhere in the country, somewhere a bit more... dynamic?

G_M

3card wrote: »

Obviously with a mortgage the surveys would be standard the lender would insist on some kind of survey.

You solicitor will require proof of how you achieved your monies with sources but apart from that the process is pretty much the same as if you are buying with a mortgage.

The lender would not carry out a survey. They would get a Valuation done - that is very different.

So whether a buyer is getting a mortgage or not he still has to decide whether to have a survey done, and what level of survey.

The solicitor will want proof of the source of funds whether a mortgage is used or not. It's just that if no mortgage then the amount of money involved is greater than if it is simply a 5 or 10 or 50% 'deposit'.

So the process is exactly the same.

anto164

To be honest, many people somehow get gifts, inheritance, work bloody hard etc to be able to get in a position and at 20 being able to buy your own place, i say well done.

I echo what people say above, recommend getting a house over an apartment, much more scope for the future.

Don't forget you'll have other costs associated with purhasing, such as stamp duty, solicitors fees etc. Then, the expensive cost of furnishing / decorating your property.

In relation to what to do - Go register at all your local estate agents and see what is available. Be patient as the market is just speeding up after christmas.

Good luck though, hope you find what you're looking for.

AdrianC

I don't want to sound cynical, but...

Dec 15 - being gifted £500+/mo by family/fiance, no job, leaving UK by summer 16.
https://forums.moneysavingexpert.com/discussion/comment/69752836#Comment_69752836

October 16 - should have 60-90% saved by summer 17, live with friend.
https://forums.moneysavingexpert.com/discussion/comment/71524843#Comment_71524843

csgohan4

AdrianC wrote: »

I don't want to sound cynical, but...

Dec 15 - being gifted £500+/mo by family/fiance, no job, leaving UK by summer 16.
https://forums.moneysavingexpert.com/discussion/comment/69752836#Comment_69752836

October 16 - should have 60-90% saved by summer 17, live with friend.
https://forums.moneysavingexpert.com/discussion/comment/71524843#Comment_71524843

Troll... just saying

agrinnall

6397 wrote: »

LOL, so patronising

So you don't want any help then? Fine, I certainly won't be offering any now.

steampowered

The Op said in the other thread that she receives £600-900 a month from her Dad as a gift.

One year ago, when she was age 18, she told us that she had no job and was not in full time education but had savings of £28,000.

That's hardly an example of being able to buy a property through hard work ...