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General Advice Needed

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Hi there,

I was just wondering what your thoughts might be on my situation.

I currently have £120k in savings which has taken a very long time (and a bit of luck) to accumulate, and I currently have a perm job (for 3 months now) with a salary of £45k a year.

I am single, have no commitments or debt, and no strong ties to family.

I am looking to get on the property ladder for the first time, but I want this to be a good investment for the future.

I currently rent and work in London, but I also know Bournemouth quite well.

My original thoughts were to buy a property both in London and Bournemouth, as I know people in Bmth who I could leave in charge of the one down there and rent it out. However after looking at the London market I think all my money would have to go into getting a property here now.

Would it be better just to spend the whole lot on one place or split it over two? Ideally I would want to live in one, although I am not too fussed.

I see the help to buy scheme is only allowed if you only have 1 property. Is it worth looking into these schemes given my situation? with the equity loan and my large deposit I may be able to get something impressive?

I am thinking of targeting locations on or near Crossrail 2, 3 or HS2, perhaps the Old Oak and Park Royal Development (tipped to be the next Canary Wharf), or up and coming areas such as Lewisham, Manor Park, or Hither Green.

Any thoughts are much appreciated.


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On your income, and with prices as they are, renting in London and a beach hut in Bournemouth might be the way to go.

Edited by juvenal

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