{"id":114654,"date":"2020-03-02T14:00:38","date_gmt":"2020-03-02T07:00:38","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-cant-afford-a-flat-in-london-even-though-ive-saved-a-deposit\/"},"modified":"2020-03-02T14:18:18","modified_gmt":"2020-03-02T07:18:18","slug":"i-cant-afford-a-flat-in-london-even-though-ive-saved-a-deposit","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-cant-afford-a-flat-in-london-even-though-ive-saved-a-deposit\/","title":{"rendered":"I can't afford a flat in London even though I've saved a deposit"},"content":{"rendered":"


\nI\u2019ve lived in Wanstead all my life and my hopes were raised by an \u2018affordable\u2019 developmentQ Since graduation from art college in 2009, I\u2019ve been able to live at home rent free so despite being on a lowish salary of \u00a320,000 as a trainee teaching assistant, I have managed to save a total of \u00a335,000. By the end of June when I graduate from teacher training, I will move on to a salary of \u00a328,000 which will go up to \u00a330,000 after a year.I\u2019ve lived in Wanstead all my life and never assumed that I could afford to buy here but recently read that Pocket Living will be building 20 one-bedroom flats near Wanstead station. The flats will be priced at \u00a3275,000 in an area where flats are normally priced at upwards of \u00a3300,000. I fit Pocket Living\u2019s eligibility criteria for buying as I will be a first-time buyer and I already both live and work in the borough. Sadly, because my salary will be \u00a328,000, the biggest mortgage I can get \u2013 if I borrow five times my salary \u2013 would be \u00a3140,000. I\u2019m unsure of what to do for the future. If I don\u2019t buy now, I will carry on saving \u2013 probably more than now after my salary increase \u2013 as my mother has no intention of moving or charging me rent. But I feel that for every year I save flat prices will increase and I will be forever playing catch up unless I take out a help-to-buy equity loan but I don\u2019t know if that\u2019s a good idea. I have no desire to live or buy in another part of London either and I wish to buy alone. I understand that I\u2019m striving for the impossible but would be grateful for any advice or insight.EP Continue reading…
\n
\nSource : theguardian.com
\nRead more…I can’t afford a flat in London even though I’ve saved a deposit<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I\u2019ve lived in Wanstead all my life and my hopes were raised by an \u2018affordable\u2019...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-114654","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-tPg","jetpack-related-posts":[{"id":21276,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/east-london-suburb-tops-most-difficult-driving-test-league-table\/","url_meta":{"origin":114654,"position":0},"title":"East London suburb tops 'most difficult driving test' league table","date":"July 29, 2016","format":false,"excerpt":"\r More than two-thirds of drivers fail test in busy Wanstead, while Barrow-in-Furness has country\u2019s highest pass rateLearners taking their driving tests in east London suburbs are twice as likely to fail than their counterparts in the Cumbrian town of Barrow-in-Furness, analysis of official test data has revealed.Over the past\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1532,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lets-move-to-forest-gate-east-london\/","url_meta":{"origin":114654,"position":1},"title":"Let's move to Forest Gate, east London","date":"February 7, 2014","format":false,"excerpt":"\r 'Look at it on the map and think, well, not much. But then it turns out that Forest Gate is quite Hollywood'What's going for it? Look at it on the map and think, well, not much. Get out at the station, the suspicion is confirmed: just another bit of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121830,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/housing-should-be-boring-and-cheap-developer-explains-his-success\/","url_meta":{"origin":114654,"position":2},"title":"\u2018Housing should be boring\u2026 and cheap\u2019 \u2013 developer explains his success","date":"September 5, 2021","format":false,"excerpt":"\r Pocket Living boss explains why his business model of building smaller flats is ideal for the UK housing crisisProperty developer Marc Vlessing says he would be happy to be put out of a job. In an attempt to attract first-time buyers who might otherwise be unable to afford their\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32505,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/teachers-priced-out-of-house-market-as-property-prices-soar-to-11-times-earnings\/","url_meta":{"origin":114654,"position":3},"title":"Teachers priced out of house market as property prices soar to 11 times earnings","date":"November 1, 2016","format":false,"excerpt":"\r As the education secretary calls for a 1% cap on pay rises, new figures show how hard it is for teachers to buy a house across much of BritainAndy Winter, a media teacher from north London, has spent the last three years living on a boat. \u201cIt was the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":86314,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-time-buyers-forced-to-start-small-with-pocket-homes\/","url_meta":{"origin":114654,"position":4},"title":"First-time buyers forced to start small with \u2018pocket\u2019 homes","date":"April 24, 2018","format":false,"excerpt":"\r Compact flats are aimed at single renters priced out of London property market\r \r Source : ft.com\r Read more...First-time buyers forced to start small with \u2018pocket\u2019 homes","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":144363,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lq-has-raised-my-flats-service-charge-by-41-i-cant-afford-it\/","url_meta":{"origin":114654,"position":5},"title":"L&Q has raised my flat\u2019s service charge by 41%. I can\u2019t afford it","date":"May 13, 2024","format":false,"excerpt":"\r This is causing enormous stress \u2026 and we don\u2019t even know what the money is needed forI own 35% of a one-bedroom shared ownership apartment run by the housing association L&Q. Since completion, 15 months ago, the \u00adservice charge has increased by 41% from \u00a3182.46 a month to \u00a3257.58,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/114654"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=114654"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/114654\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=114654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=114654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=114654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}