300k deposit 30k salary - possible to buy in London?

[LondonSpoon]

Would it be possible to buy in London with 300k deposit and 30k salary if so where?

Hi OP my budget is similar. I'm selling my lovely 1 bed flat in Seven Sisters for around 300k and looking for a 3 bed house a few miles further out. This is a great area and very well located for transport and amenities and trendier areas and all their even more upmarket amenities! But with your budget you could get a period 2 bed with a garden here or a posh new build type flat, or go into a more sought after area and get a 1 bed. I've been told that with a large deposit you will be bottom of the list for shared ownership, unless you go for a very expensive shared ownership e.g. a 900k flat in Kings Cross and you buy half. Probably still cheaper than renting! Good luck!

Your budget will get you a 3-bed house in the Cann Hall area of Leytonstone.

www.rightmove.co.uk/property-for-sale/property-59644274.html

This is about 200 yards from my own house. The area was run down for decades, but has improved a lot in the last few years - (new families, plantation blinds, sash windows... the usual).

You're also walking distance (or a quick bus or easy, short bike ride) from the Olympic Park, Wanstead Flats, and Zone 2 Stratford. Crossrail is coming to Maryland, too.

'Downtown' Leytonstone (12 minute walk) is vastly improved from the scrubby backwater it was a decade or so ago.

A gastropub is opening on Cann Hall and new restaurants and cafés are springing up in the area.

We love it here. It's friendly, safe and quiet - (flytipping is a problem, though!).

That RM ad is for a "lifetime lease" for over 60s only...

Lawks! So it is. My apologies.

That Layton house is a dodge lease thing. Loads around letyton, they keep catching me out on RM and I get all excited :-(

Yes I will have to sell my current flat but it's not in London I therefore won't be a first time buyer. Despite it'd being a buy to let it's probably still worth it as I currently get very cheap accommodation with my job.

I feel so out of depth here!
Thanks for all the advice I've got some estate agent meetings to value my current flat so I'll have a better idea of how much I have after that.

It might be simpler to let your current flat, and then sell it if and when you need to buy your own place in London.

Money Saving Expert has excellent advice on mortgages (and pretty much everything else!) so I suggest you check out their website.

My other flat is in another part of the country And is just too far to manage appropriately plus I will be in London for the foreseeable future so I'd like to move it here.

I'll check out mse thanks

Fair enough. It's a good idea to buy in London if you can afford it.

Jesus! London is another world