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Cheap options for first time buyer

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  • Cheap options for first time buyer

    Hi.

    I am thinking about buying a property in London. I am from Spain and I have a flat already there. I have checked the options in housing association web sites and apparently I can't go for the part-rent/part-buy schemes or any home buy schemes.

    The problem is the property is so expensive that I think I can't afford to buy in the open-market. I am looking for a new 2 bedroom flat in any part of London (up to zone 3) for around 200.000 pounds. Is that possible. I have found those prices for housing association new flats but I think there are only available as part-rent/part-buy. Are there available also at the same price but without using the part-rent/part-buy scheme? Are there properties with those prices around London in the open market? Or should I start forgetting being an owner.

    Selling my flat in Spain is not option yet.

    Any other suggestions for a first time buyer to be in my first steps? It is difficult to find information, I know everything for Spain but in UK obviously is very different.

  • #2
    Re: Cheap options for first time buyer

    Hi Ringo,

    Most of the first time buying schemes such as the ones you mentioned are solely for first time buyers! i.e not Spainish home owners!

    I'd recommend you visit an IFA and speak to a couple of mortgage companies because it will depend on affordability for you.

    Good luck!

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