How to get the equity back on an house lost

greatcrested

Why not give us the figures and we can advise what equity you'll get?

* current market/sale price

* selling costs

* outstanding mortgage

* outstanding HTB loan

hazyjo

Why do some people think it's their god given right to own something in London that costs the same price as a family home. My last house sold for just over 500k but I'm 50 and have had 8 properties. Start off with a flat on the outskirts like most of us did.

I went on to buy a 3 bed house for less than 450k with a 40-50 min pleasant train journey into London.

Blue_bell_20

Reading is commutable (I have a friend who commuted to London albeit a higher cost travelling and the time it takes). There are more areas commutable with affordable houses, depending on your travel length and cost. 

Emmia

I used to commute from close to Reading on the Waterloo line, but moved up to London to live with the guy I'm now married to.  It's completely do able, and you get used to the commute - I used to read the paper from cover to cover in the morning, and kindle books on the way home. 

theoretica

A large number of properties do sell in and around London so clearly other people are managing somehow.  You don't seem to like living in/near London - I wouldn't either.  So I got a job elsewhere. It means I don't get a London wage, but nor do I have the London prices and lifestyle.

Rocksolid

I don't like London, so I'm outside (50 miles away, which is a lot!)

I just took a mortgage, so I'm at the starting point but obviously doubts kick in immediately.

I don't wanna to start living in a apartment with all the problems that this country has, people and structural problems, it's impossible do not face huge problems, basically you are telling me to buy problems, the house I bought is a 3 bed (3 beds mouse size) detached.

I wouldn't like to make such movement and then sell it and bring the equity somewhere else, it's such a pain... Anyway too late.

A salary in London would be 300k ok for me (don't freak out, this is as Business Insider says), I like to have a car and travel, I can't stay in a city in the weekend, plus I use bicycle and motorbike, this is not the London life style.

Well, if I can sell the property even during the H2B still on my shoulders, it sounds good instead do not own an house (moving all to investments), where can I verify the same? It's not that I don't trust, but I need to have some official source, I would be very grateful if you could share, I can't find this specific case.

Rocksolid

theoretica said:

A large number of properties do sell in and around London so clearly other people are managing somehow.  You don't seem to like living in/near London - I wouldn't either.  So I got a job elsewhere. It means I don't get a London wage, but nor do I have the London prices and lifestyle.

They are managing buying attached houses, not sound proofed and paper walls, plus the wall is shared with the other genious on the next door, there aren't 2 walls, just in case you wonder.

Well, I've got also paper walls but at least is detached, bless god!

A good wage in London is between 100-300k, totally agree with Business Insider, obviously under 300k you can forget to buy a detached house of decent occident quality.

Precisely, good quality doesn't exist neither with 5 millions, unless I call a company from another country to build it.

I'm not the only crazy person here boys, online I've seen soo many times about UK low quality, and btw, yes, sorry, every foreigner complain in UK, maybe we are right on it, oh wait, also Britons complain as well, especially who has been scammed with rip off prices and got serious issue with new houses, the others obviously can't get the matter until the live it.

Rocksolid

Emmia said:

I used to commute from close to Reading on the Waterloo line, but moved up to London to live with the guy I'm now married to.  It's completely do able, and you get used to the commute - I used to read the paper from cover to cover in the morning, and kindle books on the way home. 

Not a nice place to be honest, and prices are crazy

Rocksolid

JGB1955 said:

Who the hell has all these money plus 40k for the rest of the fees and initial costs of ownership of an house?

I should work other 3 years to get all these money probably, if I'm lucky to keep the job, and I won't...

Well, I'm not sure where you're looking if fees/costs are £40K....obviously above your budget.  You're right, it takes years to get a deposit together...and you probably need a 'significant other' to afford to do it....but that's always been the case for Jo Public.

40k is just to have them, but for sure 20k will go away with furnitures etc...

Thrugelmir

Rocksolid said:

I ask because I considered my house purchase as an investment,

Better to treat it as a home. Avoids potential disappointment.