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Any thoughts on the market peaking?
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Any thoughts on the market peaking?
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Back in 2000 I purchased a flat with 0% down. Great to get on the ladder at that point as I had no deposit but could afford the mortgage. Luckily the place tripled in price when I sold it 10 years later. Even if you’re paying down the mortgage then you’ll get some equity along with an expected price increase especially in London
Thank you Deloitte1, I’m thinking I can raise a 5% deposit in a year for a small property but I’m afraid of the total amount to repay being higher than the value of the property and lose money… it’s probably something that I will be looking at keeping for mid-long term like you said
Pre 2008 some banks lent 125% of value in the hope that you would improve / house prices up. Take a look at Nationwide Helping Hand (if you don't mind locking in 5 or 10 years).
Maybe around 2%? But given how inflation and base rate is going I'd take certainty / extra borrowing.