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rw42

Any Advice For A 2 Bed Flat In Central London

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Hi,

I work just outside of liverpool st, and at the moment have about an hour commute into work. I'm looking to buy a 2 bed flat in london, and looking for anywhere that i might actually want to live within the price range of ~250k, that would be a shorter commute, or ideally cyclable.

At the moment looking at stuff south of the river - bermondsey/elephant and castle (http://www.rightmove.co.uk/property-for-sale/property-16545930.html block seems to look considerably nicer inside than out!) - anyone know what's it like to live there?

Will have to renew rent on current place in ~march next year - would really like to buy by then! Seems to me i can either pay over the odds at a semi-reasonable fixed interest rate now, or pay a obscene rate later once prices have dropped. Either way.. i'll be paying similar amounts of money overall!

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This doesn't really answer your question, but helps you and any readers see the longer term picture beyond a short term rate fix.

If we assume your monthly payments on a large mortgage at low rates are the same as on a smaller mortgage at higher rates...

If you buy now at 250k, and the flat drops to 150k, when you come to sell you'll make a 100k loss.

If you buy now at 250k with a low fix, when the fix expires you'll move on to a 250k mortgage at the higher rate you would otherwise have the smaller mortgage at, and at best will be worse off, at worst may lose the flat.

If you wait for the drop, you can get a 3 bed flat and get a lodger to pay half the mortgage.

If you wait for the drop and have a smaller mortgage, it is easier to repay the principal.

If you wait for the drop, the deposit you have saved will be a larger %age of the purchase price, which may put you on more favourable deals.

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Hi,

I work just outside of liverpool st, and at the moment have about an hour commute into work. I'm looking to buy a 2 bed flat in london, and looking for anywhere that i might actually want to live within the price range of ~250k, that would be a shorter commute, or ideally cyclable.

At the moment looking at stuff south of the river - bermondsey/elephant and castle (http://www.rightmove...y-16545930.html block seems to look considerably nicer inside than out!) - anyone know what's it like to live there?

Will have to renew rent on current place in ~march next year - would really like to buy by then! Seems to me i can either pay over the odds at a semi-reasonable fixed interest rate now, or pay a obscene rate later once prices have dropped. Either way.. i'll be paying similar amounts of money overall!

no you won't. what a strange post.

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Elephant and Castle is a horrible area, and even worse its surrounded by bad areas, Stockwell, Oval, Kennington, Camberwell. This is the worst area in all of London in my opinion. You would have to travel by underground or bus to go anywhere decent. So why bother moving to save on commuting if you still have to travel so much. The link shows the flat at 657 sqf, seems much larger than that!

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best bet North of the river is Holloway, 2 bed no garden for about 235k, or 280k with a small private garden. Bus is 25 mins to Liverpool St. or cycle in 15-20?

South of the river is not proper London.

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Who wants to live in this kind of slums ? For 250k, the OP can have a much more decent 2-bed in the Docklands for example. 15 mn from Bank by the DLR

errr....you do realise that my link was to all 2-bed flats within 3 miles of Liverpool Street (including docklands)?

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Who wants to live in this kind of slums ? For 250k, the OP can have a much more decent 2-bed in the Docklands for example. 15 mn from Bank by the DLR

You're right, Docklands is an improvement....its NEXT to a slum

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errr....you do realise that my link was to all 2-bed flats within 3 miles of Liverpool Street (including docklands)?

Yes thank you i realize that, but you just give the OP all the stuff around Liverpool Street, including slums ready to fall apart, that you can find on Rightmove, which i think the OP can do by himself if he's not mentally challenged.

He needs ideas more precise than that, that's why i give him the Docklands, because i live there and enjoy it.

Yes, Neverland, the Docklands are next some (soft) slums, but for 250k in London, can you expect to live next to the Queen or Roman Abramovich ?

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Yes thank you i realize that, but you just give the OP all the stuff around Liverpool Street, including slums ready to fall apart, that you can find on Rightmove, which i think the OP can do by himself if he's not mentally challenged.

Although if we are doing blanket searches within a radius with a 250k budget it would be worth looking at the stamp dudy deadzone

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Although if we are doing blanket searches within a radius with a 250k budget it would be worth looking at the stamp dudy deadzone

Good idea and useful map, but Rightmove should include the possibility to see the undeground network on their maps. Cycling to work can be a good solution in summer if you're not afraid to die young, but in the winter, you will be happy to have the tube not far from your home. That was the case for the flat in Elephant and Castle the OP showed, but it's already sold, and probably close than 300k, not 250k.

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I correct myself, i realize now you can see the tube and rail stations on rightmove maps, but not the lines. Sorry, a bit tired, the night was short.

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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