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Can I buy on this?

(9 Posts)
SoThatHappened Sun 14-Feb-16 14:06:54

I just got offered a new job £42k salary.

I have minimal debts like £1000 on credit cards.

I have £26000 in savings.

Don't laugh ....I live in London.

Any chance buying anything.

Solo Sun 14-Feb-16 14:13:48

Where in London do you want to live/buy? You can get a 1 bed flat for £200k in some areas which might need some doing up, so you should be able to buy a small place that's in zone 4.

SoThatHappened Sun 14-Feb-16 14:27:36

North of the river. I am sick and tired of the south and it's crap transport links.

Solo Sun 14-Feb-16 15:50:52

I have PM'd you.

SoThatHappened Mon 15-Feb-16 09:58:59

Not moving there...I went there last summer. Anywhere else

SoThatHappened Mon 15-Feb-16 10:01:35

What is the deal with shared ownership?

listsandbudgets Mon 15-Feb-16 17:53:08

Shared ownership basically means you pay a mortgage on part of the property and rent on the rest. Be careful though it can make it diferent to sell later on as you need permission from the other owner and a lot of people aren't keen on buying only half a house. It is an option worth considering though

Congratulations on the new job I ope you enjoy it

Solo Tue 16-Feb-16 00:01:19

If you sell a shared ownership property, you don't necessarily sell just your bit, but it does involve a lot more people including solicitors.

Can't think of anywhere else I'm afraid.

Solo Tue 16-Feb-16 01:21:31

I don't mean you sell the third parties part! I mean they may be willing to sell the remainder (their percentage) too so that the buyer buys more than just say 25% or 50% iyswim?.

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