want to buy but may rent first

mrtaylor272

space and lifestyle. ive lived in the same town forever so ive become fussy about areas. only 4 small areas i have saved on rightmove. when you know a place well you write off areas you dont like. i do need to act soon though for my sanity. 

mrtaylor272

have all the money in nationwide savings. 
job is secure but i want to get out of it in the next few years.
i worry that with renting im more tied to the job as the rent will be high and still need to be paid.
the sooner i buy i know im secure as i can keep 6 months savings to one side and re train. 
currently i need the current job for the mortgage in order to buy.
if i rent i will still need the job to buy next year. 

macman

Only £85k in Nationwide is protected by the FSCS. You need to move the rest to another non-Nationwide account pronto. 

mrtaylor272

since i sold my last property 6 months ago  

are there any banks under the same umbrella as nationwide.?

just heard on the radio rents are up and almost half the amount of rental properties available right now.

i had a feeling a lot of landlords have/are selling up. how soon could i move in if i buy , i know i need to get moving but the time it takes to buy is stressful

badger09

mrtaylor272 said:

since i sold my last property 6 months ago  

are there any banks under the same umbrella as nationwide.?

just heard on the radio rents are up and almost half the amount of rental properties available right now.

i had a feeling a lot of landlords have/are selling up. how soon could i move in if i buy , i know i need to get moving but the time it takes to buy is stressful

BIB No. Nationwide is a ‘standalone’ not linked with any other. 

jrawle

mrtaylor272 said:

would the estate agent consider what i have in the bank, i thought they went by income?
i live in Reading, and want to buy somewhere along the rail line to oxford such as tilehurst pangbourne or as far as cholsey. so i dont have to rely on a car forever. 

Have you considered Didcot? It's close to Oxford, plus if you want to go into London, you get the fast trains, not the stoppers, so is actually quicker than going from Cholsey, etc.

Property is much cheaper than in Reading. There is currently at least one two bed house on the market within walking distance of the station that you could afford. Flats are cheaper. Also, if you did want to rent, it's significantly cheaper than Reading.

mrtaylor272

interesting thanks ill do a search a mile from didcot railway.