How easy is it to get on the housing ladder in Surbiton?
Say you arrived, got a job on £21K a year and got a bedsit.
Could you have much hope of getting a flat?
Can you keep pets in bedsits? Do they have a garden?
Housing ladder in Surbiton
By posting content on Surbiton.com, you agree to adhere to the following guidelines.
- Your username and password must only be used by you, keep them safe. If a posting is made using your username and password it will be considered to have been posted by you. If you have a friend who wants to use our site and post messages on the site, show them how to register.
- Be courteous at all times, inciting racial hatred, posting abusive, obscene, threatening, harassing, defamatory, libellous or sexually explicit material or any material that is found to be offensive is not acceptable and we may suspend your username and password.
- Retaliating to offensive posts causes more problems for other users on the discussion boards. Just report such messages to us using the Feedback link which is available at the top of every page or the 'report this' link associated with individual postings. We will act on every report we receive.
- Please respect other people's work and do not post material that infringes copyright.
- Do not post information that you know to be confidential or sensitive or otherwise in breach of the law. You should only post material that you know to be public knowledge. If you have any doubts do not post it on the site.
- Never attempt to gain unauthorised access to any area of the site. This is known as hacking and is illegal.
- Content posted represents the opinions of the author, and does not represent the opinions of Surbiton.com or its affiliates and has not been approved or issued by Surbiton.com. You should be aware that the other participants are strangers to you and may make statements which may be misleading, deceptive or wrong.
- Spoofing or posing as another user is unacceptable. Anonymous users' postings should always be considered with suspicion.
- Help keep Surbiton.com a safe place for information and opinion. Please alert us of any anti-social behaviour as described above.
Surbiton.com 1998 - 2024
Comments
Not very easy at the moment, but prices are coming down.
Studio flats are £150k at the moment, but at the current rate of reductions in the market, they will be £100k before long.
This is not all good news for buyers, however. The drops in price are caused by problems in the mortgage market, which basically means you will need to have a higher proportion of the price as a deposit, and they will not lend you more than 3.5x your annual income. Interest rates are also higher, regardless of what the BoE does to the base rate.
On £21k, you should be able to borrow £73k. Top that up with a £25k deposit and you should be able to buy a studio flat next year. The jury is out on when house price falls will come to an end, though, so it may be better waiting even longer. Some predictions talk about 60% off peak prices, which would take us back to 1999 prices, and your £100k would buy you a nice 1 bed flat. The problem is, if prices go down that far, I guess hardly anyone would have a job anyway, so affordability would still be an issue.
Good luck.
Thanks!
Cheapjack
Hahahahahahahahahahahahahahaha !!!!!