[R0B]

Originally Posted by Sennen

Just as a post script i would always try and buy something Freehold if you can stretch to it. Not always possible i know but long term it is the far better option.

I was going to say the same myself. Plus help to buy scheme. I think the stigma of that being a poor man's thing has gone and it's a really good option for FTBs.

[KTE]

Ongoing issue, not looking to become any easier either (although I hoped).

Was close to taking a risk on a auction home, mortgage would cover a decent amount 80%-85%, but I had a super busy 6 weeks ahead through March/April. Completion was due within. 4-6 weeks.

House sold for more than I would’ve been able to afford anyway, and Covid happened. Let alone the additional costs of house survey, potential chancel liability (very interesting learn).

Link: https://www.bbc.co.uk/news/uk-england-26373756

HTB is in my eyes a silly way to claim people can access the property ladder, the unaffordable portion that they fund initially also appreciates (unlikely to depreciate), and still remains unaffordable, if not more so down the line, unless your salary significantly increases at a greater rate than the appreciation of the property.

[TouringPleb]

Originally Posted by isleaiw1

You don’t get London salaries either .. or job opportunities...

I would go back up north tomorrow (especially if I can wfh for my London job / London salary!)

Just had a quick look on Rightmove out of curiosity.

500k gets a very large 4/5 bedroom detached house in Peterborough. 15 mins drive to the station and then less than an hour on the train to Kings X.

[isleaiw1]

Originally Posted by TouringPleb

Just had a quick look on Rightmove out of curiosity.

500k gets a very large 4/5 bedroom detached house in Peterborough. 15 mins drive to the station and then less than an hour on the train to Kings X.

Indeed, so 15 min drive, 10 mins to park and get to platform, 1 hour on train, 10 mins to clear platform in London, 30 mins for tube and final walk, over 2 hours door to door...

Plus say 6k season ticket, 1k parking, plus tube costs....

I’ve looked at MK as it’s on my line and quicker but I reckon Chesterfield with a 2 hour commute and stay in a hotel for 2 nights a week (very cheap for me currently!)

Or keep paying the mortgage down here and call it part of my pension...

[Oreocookies]

Just thought i would say thanks to those that have posted their words of advice and encouragement.

Spoke to the estate agent and told them that i was no longer interested in the flat and that i will wait for a two bed terrace to come up in my budget.

[TimMcC]

Originally Posted by TouringPleb

Just had a quick look on Rightmove out of curiosity.

500k gets a very large 4/5 bedroom detached house in Peterborough. 15 mins drive to the station and then less than an hour on the train to Kings X.

Have you ever been to Peterborough?

[Sennen]

Originally Posted by TimMcC

Have you ever been to Peterborough?

The best Thai restaurant I have been to outside of Thailand was in Peterborough. That was 15 years ago but the city did seem to be a bit of a shit hole, may have improved since though.

[TouringPleb]

Originally Posted by Sennen

The best Thai restaurant I have been to outside of Thailand was in Peterborough. That was 15 years ago but the city did seem to be a bit of a shit hole, may have improved since though.

Like all towns it has its shit and slightly less shit areas

[SuperHamz]

We used SRC Financial for our shared ownership and then again when we stair-cased. The broker fee was worth it for the product and service we got.
https://www.srcmortgagesolutions.com/

Also, try this guy, really knowledgeable and gives you realistic advice.
https://www.facebook.com/pages/categ...6139300730931/

[ArthurKing]

With the stamp duty holiday ending, the market round here is still very much the same as in the OP.

We live in a large village soon to be a town with the amount of new builds but during the stamp duty freebie, there were 20-25 properties for sale. Now there are about 5 so if you have specific requirements, its difficult to find something.

We have an estate agent coming round today to value ours but he said over the phone that because of the market, he reckons £350k minimum without even seeing it. Our neighbour has just sold, offers over £400k and it went for £420k so an increase of £85k in two years.

[isleaiw1]

Originally Posted by ArthurKing

With the stamp duty holiday ending, the market round here is still very much the same as in the OP.

We live in a large village soon to be a town with the amount of new builds but during the stamp duty freebie, there were 20-25 properties for sale. Now there are about 5 so if you have specific requirements, its difficult to find something.

We have an estate agent coming round today to value ours but he said over the phone that because of the market, he reckons £350k minimum without even seeing it. Our neighbour has just sold, offers over £400k and it went for £420k so an increase of £85k in two years.

Ah, but increases just make the one you are buying even more expensive if you are upsizing so you want prices to fall (although negative equity is never good, I know that from a long time ago!)

Now when you are an old codger like me and ready to think about downsizing, then ever inflating prices are wonderful as they widen the gap between what you sell and what you buy in a good way!