trapped by the property market crash?
Hi there. I bought a flat in London at possibly the worst time (March 2007); just before the peak in prices when properties were getting snapped up. I panic bought a tiny one bed big enough for just one person.
The good news is I got a tracker mortgage, so my payments have almost halved with interest rates dropping.
My relationship with my boyfriend has since grown serious, and we really want to live together. I really don’t want us to go back to renting, he has available money, but I don’t and neither do I have much equity in my flat – I bought it for 160K and put down a 10% deposit, so even if I sold it at the amount I bought it for I only have 14K to put towards a deposit with my boyfriend for a 2 bed place.
Do you think we should a/ live together in my tiny one bed and save for a deposit on a larger place (the cheapest option but least comfortable in space terms) or b/ rent a larger one bed and rent out my flat (more expensive option but more comfortable)
Real Estate Professionals



