Help - what would you offer on this flat?

[Crash123]

Hi all! I am considering putting an offer in on a property and was wondering a) what to offer and b)if you all can spot any downsides that I cannot.

My situation - I am looking to buy alone after a breakup with my ex. He bought me out of the flat we owned together late last year, and I've been staying with friends ever since. I have a bit of cash from that, a bit of savings, and my parents are willing to help me make up the difference in a deposit if it'll help get me over the line. I have no children, though I wanted a second bedroom as I want to leave my options open to adopting down the line (and could get a lodger in otherwise to help me save money and replenish my emergency savings).

I have found this flat which ticks all my must-have and a lot of my nice to have boxes - https://www.rightmove.co.uk/properties/133093493#/?channel=RES_BUY

The boxes it ticks - It's got a nice kitchen, 2 proper bedrooms, a garden, and is in good enough condition that I could move in straight away. I won't have money to decorate for a while so this is good. It's bright and airy, has some decent storage space, is off a main road, is close to transport (the tram) and walkable to different types of transport, which is key with all the London strikes and train works. I could host friends in this flat.

The downsides - It's far away from a buzzy high street - I'd have a long walk or a bus ride to somewhere with nice coffee. There are no grocery stores nearby. The neighbourhood is a bit rough around the edges (and I'll go visit at night to see if I feel unsafe). I think I could cope with these. It's ex-council which I don't mind at all, but some other people have said is a downside. It's also a bit far from the train, but the tram is close by. And the shower room is a bit blah and will need refreshing at some point.

I want somewhere I can stay for a while and not outgrow. After a traumatic 2022, I want to own somewhere that no one can tell me to leave.

I can JUST about make this place work financially. I don't earn enough to get a 10% loan, so I'll have to make up the shortfall with a bigger deposit, which I can do if I work my ass off. The upside is, I'l have lower payments monthly if I put a bigger deposit.

What would you offer on this place? Do you see any downsides apart from the ones I've listed?

@Ohlalahair - Oh, I know nothing of that area of London! What's it like? I've had a quick snoop on Google streetview but it's hard to tell the vibe.

@sunshinesupermum - Thanks so much for this. Would you be keen on a flat like this, if 300k was the top end of your budget?

@LexMitior Ooh that's a good point I hadn't considered. I'd always heard that ex-council were good value for money because they were built to house a family, but not about the maintenance costs and all of that.

@squashyhat - Oh no! Hoe can you tell what kind of hedge it is, or when it'll block the light? Dang. I don't want a giant sun-blocking hedge.

@OhMerde - Oof. Would you not open the windows for the back garden / upstairs windows as well?

@proppy - The closest supermarket I can see is a Lidl (and an Asda) about 20 min walk / 10 min bus away.

I’d run a mile OP. Mitcham is dog rough and I don’t think you’d feel safe there.

@C4tastrophe - Well the good news is, I don't have a car to get shopping out of! Haha. But seriously - the bathroom is absolutely ugly and would need updating as soon as I could, though I'm not bothered about the kitchen floor being a bit off. Ugly I can live with in the short term if the bones are good. Interesting observation about the fences and all of that, though.

Would the current resident be honest with me, do you think? Wouldn't they say good things just to get rid of it if they didn't like it?

@NoIncomeTaxNoVAT - Oh amazing! So glad to find someone local! Do you happen to know the neighbourhood / estate I am looking at? And if so would you feel safe there?

The connections were a big part of my keenness - and the different transport options. Tube, train, bus and tram. If one is down it's fantastic to have another nearby.

I did go and view. I listened to the tram go past and it didn't sound like it would be disturbing. It sounded a bit soothing and white noisy to be honest!

The place you posted is lovely and would deffo need less work, but I'm really keen to have a garden and grow some things and host friend in the summer!

There are two issues with LA owned flats which I would check before sinking any money into it:

1. if there is a shared walkway across the front door it will be difficult to mortgage as banks generally don’t lend on them. This will reduce the number of buyers when you come to sell. I am guessing this is why there is a lack of picture of the front of the block?
2. LA owned properties are notorious for having extremely expensive s20 notices served. This is an issue if the block is owned as a mix of private and LA. The private Leaseholders have no say in choosing which contractors are used or which works are carried out. You could end up with a hefty bill at some point if the LA decides that all of the windows need replacing.

other factors: banks might not lend on your flat if there are a certain % of the block as a whole already mortgaged. this could be an issue when you come to resell. Before going any further, ask the EA or the leaseholder if the current leaseholder has been served a s20 notice.

Every leasehold property will have two LR entries using two separate numbers. One for the freeholder to register their interest, the second for the leaseholder. It is this entry that the detail of the lease can be found which should confirm the GR and service charges and when they are subject to review. You can download these for £3 on the official LR site.

Good luck!

I used to live in nearby Morden, and often visited friends in Mitcham. It was a proper shit-hole, and I hated it, but this was twenty years ago. I was very glad to move away from the area, to put it politely, so unless it has changed a lot I'd look elsewhere. I see someone above mentioned Southfields, I used to live in nearby Earlsfield and would say Southfields is better than Mitcham by a country mile, if they are priced similarly.

It still looks like a shit hole. Shocking the difference in prices around the country. That's a council house up north

Did you say you plan to get a car? That would make things easier. Contrary to popular belief depending where you are in London a car can be a necessity in terms of time saving & ease.

Look around Southfields, more going on.

Are you happy to stay there a long time? Flats in many parts of London haven't seen much price growth since Brexit. I don't think that will change much for sometime tbh & I think the gentrification that likely would have happened to Mitcham at some point is now less likely to happen as many people will just move a bit further out instead because of increased remote working.

I know that area too and think £300k is a fair price for a two-bed garden flat - and one in good nick by the looks of it. Yes it's a bit of a no man's land for London, but 7mins to a Londis is hardly the Outer Hebrides. If it was closer to coffee shops and such, it'd cost more, so unless you want to move further out or have a one-bed or sacrifice some other aspect, then this is likely your best option. To some, the area might be a 'shithole' but it's not that bad I don't think and I don't think it's particularly unsafe. You'll know your lifestyle best, but on these notional late night trips out to buy milk, I've often felt more unsafe in affluent areas in London than in 'rough' areas, as there's fewer people about and less sense that anyone would help you. Plus there's less to steal in poorer areas anyway. If you've lived around London a while, I don't see why you'd feel unsafe around there in particular, and the tram and buses keep you connected so it's never that far to get your shopping or social activities. A lease over 100 years wouldn't bother me either. Honestly, it seems like a decent buy that meets your needs for now and even though it'd LA, it'll probably go up a bit in value if you stay a few years and keep on top of the decor etc.

The EA saying they rejected an offer just under 300 makes it sound like they want 300 minimum, so I'd probably offer 300 and flag all your positives (chain free, willing to move fast) for a swift deal and no silly haggling. Good luck!

(Also although it's a flat, with its garden and two floors, it's more house-like than most)

Southfields is better than Mitcham by a country mile, if they are priced similarly.

Surely they're not priced similarly though?? Southfields is on the tube, much more like Wimbledon, and of course more desirable but not comparable with Mitcham. You'd be fairer to compare it with, say Thornton Heath or other similar bits of Croydon, and I'd say Mitcham is arguably preferable to those.

Crash123 yes I'd pay that for a flat that needed no work. But as PP have said check out the service charge and works needed. Visit the area at different times etc.

100% agree Pinkdelight3 But even in Southfields my friends flat is not near a large supermarket and is in the middle of a large council estate. It is also smaller than OP's Mitcham maisonette and has no garden. Horses for courses.

the property looks good but Mitcham and that area isn't the nicest for lots of reasons.
have you looked around Norwood Junction station? good transport links but still affordable. all the shops you need and cafes opening up. Brown and Green just opened by the station at the same time as another trendy coffee shop. worth a look as you would get a 2-bed in your budget.
https://www.rightmove.co.uk/properties/132093056#/?channel=RES_BUY

www.rightmove.co.uk/properties/131717345

The flat is lovely but the short lease and lack of local amenities would put me off. This is smaller but nearer to transport and shops and a lovely, private garden.

That Clifford Rd flat is a good find. My mate lives around the corner. Very different vibe from the Mitcham area, rougher in the immediate feel (from the area directly around the Micham flat) but great for fast links into London and close to OP's Crystal Palace haunts, if she still wants to be near there. Less keen on the other one both area-wise and bones of the flat - much more cramped, you'd struggle to let out that second bedroom.

Sorry I don’t like it. The one SD25 posted looked better. You do need to do your homework when buying a leasehold property. Escalating ground rent and service charge, length of lease, properly managed. It’s a bit of a minefield really. If you can stretch to a freehold in a cheaper area I would.

A few here OP that might also fit the bill if you get collywobbles about the area of the Mitcham one

One is a shared ownership one but you could do a 50% and a more modest rent and it's 3 bedder

www.rightmove.co.uk/properties/109974914#/?channel=RES_BUY

www.rightmove.co.uk/properties/132360551#/?channel=RES_BUY

www.rightmove.co.uk/properties/85869951#/?channel=RES_BUY

www.rightmove.co.uk/properties/132394349#/?channel=RES_NEW

www.rightmove.co.uk/properties/131799362#/?channel=RES_BUY

www.rightmove.co.uk/properties/131886407#/?channel=RES_BUY

if there is a shared walkway across the front door it will be difficult to mortgage as banks generally don’t lend on them. This will reduce the number of buyers when you come to sell. I am guessing this is why there is a lack of picture of the front of the block?

I once bought a council flat with a shared balcony walkway outside the front doors. Got the first mortgage I applied for,(HSBC) and don't recall it even being flagged.