Hoping for some nuggets of wisdom. DP and I are looking to buy our first place. We are tied into our current lease in our rental property until the end of April so can't actually move til then but are starting to look now. We are looking South east (Hither Green, Catford, Lee, Blackheath borders etc) for a 2 bedroom flat. Don't want to go further out (eg Bromley etc). Our first baby is due in March.
We have a mortgage agreed in principle. Offered up to 450,000 but our deposit only allows us to go to 375k absolute max as we don't want to put in less than 10%.
Is buying in London currently as bonkers as they say? I have a very cautious DP who likes to think everything through extremely carefully and I am worried if what I have read is true we will miss out on stuff because others will get in there first. Is it also true that properties go for way way above the asking price, as if that is the case there doesn't seem much point in us viewing stuff for, say, 380?
Any tips on first time buying in London very gratefully received.
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Help - first time buyers in London
25 replies
frazzledlondoner · 16/11/2015 10:32
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