Buying. a flat in London

[MissMuffetisin]

Could anyone who knows the London property market help my eldest DC, who is looking to buy a one bed flat in London ? They want to buy at between 250 to 300 k - nearer the lower end if possible. They work in Islington and are a bit of a culture vulture so would like to be able to get into the centre at weekends. They currently live in a rented room in Muswell Hiil, which they love and would like a similar vibe but realise they can’t afford it, so are looking for somewhere safe that won’t cost a fortune in commuting. Our family don’t know London at all so we’re flummoxed - they could get a detached house where we live for that, but looking on Rightmove I’m thinking they’ve set themselves an impossible task !

Croydon get a bad rep on here, but a lot of that is embedded in anti-blackness. East Croydon is rapidly been gentrified.

I've lived there for 10 years and it has a bad rep for numerous and very good reason. There are some good point like ikea and some of the parks. Beyond that, no, unless you go to the not-really-Croydon parts of Croydon. It was poorly designed and planned when it was first built, and it certainly hasn't gotten any better.

Would not recommend buying there. Many better areas. Especially for a budget of £250-300k, but somewhere nicer.

Would they consider Walthamstow or round Blackhorse Road? Lots going on there and you might just find something. You’d want to look very closely at where exactly, what kind of block/street and so on but there is a fair amount around £300k. Easy access to Islington down the Victoria line. Leyton might also be worth a look.

With shared ownership, you own and pay a mortgage on part of the home and rent the rest. You can gradually buy more (this is called staircasing) until you own the whole thing. However, you are responsible for all maintenance costs etc as if you owned the whole property and there can be problems with selling. They are often new build so are relatively more expensive but have a good energy performance. When I bought my flat, I was eligible for shared ownership but buying on the open market was cheaper. There are a lot of stories about the benefits and pitfalls of shared ownership online - check out those and about the company/housing association providing or managing a home you're interested in. It may be right for your daughter as long as you go in with your eyes open.

I'd look along the Thameslink routes, eg Streatham to St Pancras in half an hour.
Or a station on the line into Essex Road, eg Hornsey/ Alexandra Palace.

While I'm a big fan of SE london, I don't think commute wise it makes particular sense for working in Islington.

I'd also avoid Tooting, you'll be paying more to be on the tube instead of overground and that long schlep on the northern line isn't so enjoyable as to be worth paying more for, property wise.

Some friends have regretted shared ownership, dealing with both rising rents and mortgage costs, in recent years, so that is something to consider too.

Have a look in E1. There are a few 1 bed flats that squeeze in within budget. Easy transport connections on the Overground to Islington via Whitechapel, Shadwell or Wapping stations.

On a busy road (but not noisy road):
https://www.rightmove.co.uk/properties/140551214#/?channel=RES_BUY

Tiny and next to the railway line (local trains going into Liverpool St) but great location - walking distance to Spitalfields, Brick Lane etc and good transport connections.
https://www.rightmove.co.uk/properties/142441928#/?channel=RES_BUY

https://www.rightmove.co.uk/properties/141279809#/?channel=RES_BUY

Would say somewhere like Balham/ Tooting would be a good bet - can get into Islington on the northern line. There are some nice flats in house conversions on nice streets and she could afford flat that isn’t an ex council without associated high service charges.

Yes, for shared ownership I'd recommend the Facebook groups as they are really helpful. You can buy a percentage outright and continue renting the rest.

A lot of people say don't do shared ownership because of the leasehold issue but if you're buying in London most of us will be buying a flat so we will always have to deal with the issue of leasehold. It's leasehold that is the issue not really shared ownership.

You used a ‘he’ in your OP but then edited it out, so I’m going to go with that.

If he’s not able to WFH when needed, I’d be looking for somewhere where he’s got a couple of options for his commute in case of strikes, even if one of them’s a bit of a pain.

Don't just look at tube lines to Islington, the overground might expand their options and stops at Highbury and Islington and Canonbury stations. Is a more pleasant commute than the tube as well as it's air conditioned.

Lived near here before and fab for transport links. Also 15 min walk to Canary Wharf with lots of shops and restaurants www.rightmove.co.uk/properties/86648064

M

West Croydon is on a direct overground station to Highbury and Islington. OP, they could look at any of the SE London locations on the overground line which joins Islington. Norwood junction is the best connected of them, after New Cross which would probably be out of budget

If they go on Right Move and type in their budget they will find 1500+ flats to choose from including this one:

https://www.rightmove.co.uk/properties/142909781#/?channel=RESS_BUY in Muswell Hill.

That’s no where near Muswell Hill. It’s also fucking miles out!

Muswell Hill

Pop here's the link.

Where's your link to something more central and in budget then?

Slag my suggestion off at your will but please provide a more better alternative - in your opinion. That would be most helpful to the Op.

Please please advise against shared ownership, it’s a massive scam. What about asking their colleagues?

I agree SE London has more possibilities.

There’s this in SE4 for instance. I’m not familiar with the stations there but there’s 3 or 4 within walking distance and I’m sure you’d find a fairly easy route to Islington.

The issue is not being familiar with much of London, like you say , you can find properties that seem within budget on RightMove, but we don’t know if it’s because it’s a dodgy area

A single friend of mine lived alone in Sydenham although this was about 10 years ago. She never said anything about the area being unsafe. It's on the overground direct to Highbury and Islington for work and it's about 25 minutes to Charing Cross at the weekend.

This one is sold now but it's practically on top of the station.
www.rightmove.co.uk/properties/86608329#/?channel=RES_BUY

The met police website shows crime stats for areas including the type of crime and you can cross reference this with flats you like the look of. What type of crime are you worried about? Burglary or crime against people like muggings?

www.met.police.uk/area/your-area/met/lewisham/sydenham/about-us/crime-map

Yeh , actually probably best to start with stations on the overground and look around, Forest Hill as well as Sydenham for example. It cuts the commute if you’re on a direct line. That’s assuming that Highbury and Islington is the right part of Islington.

Walthamstow’s a good shout.

Wood Green/Bounds Green? 10 mins to Islington

Or 45 mins to the Angel from E Croydon.

It can be as quick / quicker from further out, but then you have to check increased fares.

This is a building where I used to live, very attractive flats in converted factory, and zone 2 so easy to get anywhere in London

we loved West and North London but found East London more reasonable in the terms of prices (for zone 2)

https://www.rightmove.co.uk/properties/136973636?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard#/&channel=RES_BUY