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Getting on property ladder in London
Ybe
Posts: 446 Forumite
What’s the best way to work towards getting on property ladder in London in late 20s? First homes in London are generally around the 300k mark. Is the only way to try and save a large deposit of around 100k or more?
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Comments
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Have looked at help to buy and shared ownership etc but I think these options are just kicking the can down the road and could cause problems in the longer term.0
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How much do you earn?No reliance should be placed on the above! Absolutely none, do you hear?0
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better job, partner, win the lottery e.t.c"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Why do you think a 30% deposit is needed? Not many FTBs start out with that high a deposit.0
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Look into Lifetime ISAs - that really gave my deposit savings a boost. It needs to be open for a year before you can purchase though. But you’ll probably be saving for longer than that.
I no longer live in London but friends that do have either purchased using the help to buy scheme, purchased with friends/partners or worked really hard, had no social life for a few years, purchased a do-upper and spent 6 months doing DIY in the evenings.:T Hopeful first time buyer in 2019 :T
Currently reading: Mythos by Steven Fry0
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