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Should we buy or keep renting?
pickledonion_3
Posts: 3 Newbie
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Comments
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With a £140k deposit (impressive!!), it's very unlikely you'll be stuck with negative equity! This deposit means you'll be putting down almost a 50% deposit, which is ideal. A repayment mortgage over 25 years at 5.5% will be just below £1000, so less than your current rent.
Prices in London don't seem to be falling, and in a nice area probably won't.Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
They are falling in some areas of london, but I live in highgate and prices are HIGH!! :eek:
Not sure what you get for 300 around here, a quick butchers in EA windows shows not a lot - I saw a one bed for 295 the other day. theres only 4 flats below 300k in N6 for sale, and they are either 2 or 3 bed ex locals. Ex locals are bloody good VFM mind you, good size rooms etc, although beware of a) neighbours ( id have thought a lot arund here would be sold off
) and b) major works.
I suppose leytopnstone is out of the area where you are looking, only for 300 youll get quite a lot there, and I wouldnt hesitate to bring up children there, its lovely ( although not as lovely as highgate I admit!) http://www.rightmove.co.uk/viewdetails-16501378.rsp?pa_n=1&tr_t=buy
http://www.rightmove.co.uk/viewdetails-17294048.rsp?pa_n=2&tr_t=buy
http://www.rightmove.co.uk/viewdetails-15844049.rsp?pa_n=2&tr_t=buy:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
In pretty much the same position as you. Dont think our deposit is quite as high as yours but we have given up buying anywhere in London - the only places we could find for <£300K are either complete dumps or in an urban war zone.
Its a difficult one, theres no correct answer. We are biding our time and putting in low offers in the areas that are right for us.Mortgage debt - [STRIKE]£8,811.47 [/STRIKE] Paid off!0
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