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?

@CellophaneFlower I don’t doubt it, but things have changed vastly over recent years in terms of what lenders will agree to and as a result of the BTL boom. The rules are also inconsistent between lenders. Some will only lend on lower floors in a block, obviously there are those with the cladding issue and some will only lend below a certain % of flats already mortgaged within the block. None of these are defined anywhere which can mean lost sunk costs before you realise you can’t get to exchange. The walkway issue is a fairly recent one. By far and away though with ex-LA properties is the potential cost of s20 notices which is the great unknown.

It's a lovely flat. So bright.

Ah, ok. This was 5/6 years ago. I do remember having a panic about the percentage owned and I'd heard about the ground floor thing. It was a small mortgage too, so that may have been in my favour.