Future Proofing my life: Deposit saving then MFW journey in under 13 years

beanielou

Take it Crawley too far out though super easy for Gatwick? 

South_coast

LadyWithAPlan said:

I can see on a 20 yr mortgage £350k its  £172k in interest though so.....   

Yeah, but that's before you start OP'ing. Imagine how much you'll bring that down by 😀😀😀

LadyWithAPlan

beanielou said:

Take it Crawley too far out though super easy for Gatwick? 

yes for central london - too far ... want to be in in say 20 mins ideally by tube 

Watty1

No idea on London Hunting but some years ago I decided to buy a small property to rent out. Unsurprisingly the ex squashed that idea but sticking with the finding property part rather than my disastrous past, a friend put me in touch with someone who worked in an estate agent.  I gave her my brief and as a result saw a number of properties that were 'new to the market' and all sold within days.  The properties did go on RM but were sold stc by the time they were listed.  On all of them 6 to 8 prospective serious buyers were shown the property and the estate agent knew one would buy.

I offered on 4 but lost them all for good reasons and was told by the estate agent to pull out of one because the seller would be difficult.  The EA then rang a few weeks later to tell me that pulling out had been a good call and why . 

What I learned from this is that you could identify your area then seriously chat up an agent, explaining what a great position you are in, being clear about what you want and ask them to let you know if anything comes up that meets your criteria. Yes, keep an eye on RM but the agents have seen the places and they do genuinely know that "outside space" for the property means a square the size of the bin or something that actually meets your criteria and if you are "in on the buyers list" they will tell you.   If you are friendly with them it helps. (I dropped a box of cakes into the agency after my first sale fell through and from that moment on the staff were angels).

PennysIntoPounds

Hmm, so approx 20 minutes on tube to central in acceptably equipped areas gives you tube station area reach of East Finchley, Wood Green, Walthamstow Central, Leyton, and Lewisham as your wild card. You could try looking at those areas on Zoopla etc and see if there are potential properties you like the look of in your budget, then if there are go to each of the areas and walk for 10-15 minutes in each direction from tube and see what the vibe is. You're likely to get more the further out you go so may as well start from those and work your way in, while keeping an eye out for slightly further out listings online. I know people who live in all the areas I mentioned and they're all very liveable

Sistergold

Congratulations on getting the MIP! And it’s good that you are widening your possible search areas. As you continue searching it will crystallise into a definite place as you will see a pattern. Never thought of the area I finally bought in when my search began. 

debtfreewannabe321

Yay congrats on the MIP!! 

I'm from SE London. Beckenham is really nice (was Kent but think it's moved into London these days) took twenty minutes to get to central London from memory. My family lived in and around Catford, Hither Green, Lewisham, Bellingham and Sydenham areas and I had friends in Forest Hill. There are nice parts to all and some beautiful old buildings (if that's your thing) but also some dodge areas to avoid in all. All cheaper than North London from memory though. It's been a while since I lived there so not a clue on prices now. 
Hope you find something you love! 

MrsWenger

Not sure if you have seen this thread LWAP - https://forums.moneysavingexpert.com/discussion/6505285/how-to-decide-area-to-buy-a-flat-in-london/p1

LadyWithAPlan

MrsWenger said:

Not sure if you have seen this thread LWAP - https://forums.moneysavingexpert.com/discussion/6505285/how-to-decide-area-to-buy-a-flat-in-london/p1

This is AMAZING! Just what I needed (and my price range as well!) Tx!

I saw 4 flats Friday - and seeing 2 or 3 this afternoon ...

QUESTION FOR MFW'ers ... (as I am a FTB)

My Mortgage in principal  - I have just seen - is only one month long in duration  - I thought they were all 3 months ? It then can be renewed when we ready - with paperwork etc

On one hand good I have it 
However I agreed to pay MIP when got it  £295 then the £295 extra fee on actual mortgage to broker  - I feel I should push back on a 1 month MIP though? Thoughts?
No way I can find and go thru in a month surely?
 

skint_spice

I hope they don’t expect you to pay more to renew but clarify with broker.