Where can i find a flat for my daughter in London?

[MrsFrancisUnderwear]

I'm hoping some wise London mumsnetters can point me in the right direction as I don't know the area well myself.

My daughter has finished her studies and will be working in the centre of London. She and we are very fortunate in that we can help her buy a small flat. So, where do we start?

She seems to prefer South West London (had a flat share in Norbiton, Kingston) but we've looked there and it's much too expensive. I'm worried that she will choose an area that she doesn't know.

Where can we start looking? Our budget is £200k.

One bedroom flat Raynes Park, lovely. Close by Wimbledon & train line to Waterloo (20 mins) - www.foxtons.co.uk/property-for-sale-in-raynes-park/chpk2564476

Thank you BobbyGentry and that looks like the kind of thing that would suit her however there are charges of nearly 2400 per annum before council tax. She wouldn't be able to afford charges like that I'm afraid.

What about somewhere like Hampton or Whitton? Quite far out but easy to get into Kingston. Whereabouts will she be working?

Can 200k even buy something in London these days?

If she can't afford £200 a month on charges when she has no rent to pay, is she really in a position to be a home owner? What about things like repairs?

Your offer is very generous but I wonder if it might be better spent on an investment property outside London, which you or she could rent out to generate some income, whilst she continues to live in a flat share for now?

Goodness I just had a quick look round where I used to live in Feltham and prices seem to have gone nuts since I left. Hampton and Whitton might be unaffordable now.

Feltham itself isn't lovely, but I lived there as a single person working in central London and walked home on my own, etc. It's about 35m from Waterloo by train, similar distance to Kingston by bus, near Richmond and Twickenham for nice places to go.

This is quite nice
www.rightmove.co.uk/property-for-sale/property-53725310.html

m.zoopla.co.uk/for-sale/details/37691966?search_identifier=3b817b1f93c7cccf78846ccb25761cfc

Lord, nowhere :S

DP and I have a budget of 350k and are moving out of London as what you can get for your money is an absolute joke.

m.zoopla.co.uk/for-sale/details/17482892?search_identifier=3b817b1f93c7cccf78846ccb25761cfc

She's going to be working in the centre of London Hobbes8. When she lived in Norbiton she took the train in to Waterloo.

Tribpot - I didn't say she didn't have rent to pay. There is a mortgage on the property. She will also have council tax and transport charges. It's so difficult for young people starting out and we're just trying to help. Not interested in "investment property" as that is one of the issues that has made home ownership such a big problem.

I don't want to be a Debbie Downer OP but I think your budget is unrealistic for London, unless your DD is willing to live in a fairly dodgy area.

Surbiton Quick trains to London.

I think your budget is more SE London than SW.

Hate to say it but £200k will get you very little in London unless it's a very dodgy area.

I would second buying out with London as an investment. She will either be hours of commute away from her work colleagues or in a dodgy area, or both otherwise. Unfortunately 200 k won't really get anything in zones 1 or 2. Brixton is an amazing area for 20 somethings, I would be looking for a nice rental round there, about 300 to 350 per week for a 1 bed, supplemented by income from rent, would be a much better lifestyle for her.

Very small studio flat somewhere dodgy? That's all 200k would get you.

how about shared ownership schemes? (though I don't know whether those are open to people with a £200k downpayment available?)

I was going to say Feltham. I own a flat there which I rent out and there has been lots of new development in the last 10 years. Easy access to central London on the train into Waterloo.

It's not the nicest area, but you will get a reasonable sized flat for £200k within spitting distance of Twickenham and Richmond. For SW London it's probably your best bet in your price range.

Grotbag - that's why I need to check with you mumsnetters (was going to say "ladies" but I read a thread recently...)

There must be some nice areas - okay maybe not SW London. What about SE London. What about Sutton? (I don't know what that's counted as)

Is she actually renting it from you, OP? Or is she paying the mortgage? If renting, those ground charges are your expense rather than hers. I'm assuming she would be paying the mortgage (leaving the question of who bears the cost of repairs etc). Is she prepared to live outside London and have a long-ish commute in? The commuter belt for London has pushed a very long way out now.

Sorry, another one who thinks £200K in SW London isn't achievable, especially if you're looking for something leasehold with less than £1.5 to £2K in service charges per year.

MrsFrancis there are plenty of nice areas, but you won't get anything in them for 200k, sorry.

Are you giving her £200k or the deposit to enable her to get a mortgage and the total budget will be £200k? Big difference

Either way, you won't get anything around where you want for £200k I'm afraid

Anything at that price will be an absolute shit hole with nothing left on the lease and probably for cash buyers only