Property News · July 2, 2018

I earn £30,000 – do I have any chance of buying a London flat?


I thought I wouldn’t get a mortgage, but my family have offered me help with a deposit Q I am a single 38-year-old adult living in London with no dependents. I have rented for years as I have always assumed that I would never be in a position to secure a mortgage on my salary which is currently just under £30,000. However, my family have recently been able to offer me help with a deposit – a gift, not a loan – and I am now considering my options. I have spoken with a mortgage adviser who believes I may qualify for a traditional mortgage but I have been looking at the London help-to-buy scheme and wondered if there was an advantage in applying for that, even if I have financial support.With personal savings and family assistance I can put forward a deposit of up to £50,000, with additional money reserved for legal fees. I would – ideally – be looking for a one-bed flat in the zone two region of Southwark, but am not picky. For the purposes of work I need to be able to get to Waterloo or Clapham Junction stations fairly easily very early in the morning. Continue reading…

Source : theguardian.com
Read more…I earn £30,000 – do I have any chance of buying a London flat?

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