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[tunnie]

Cor, second houses, flats in London.. how the other half live .. 

beans on toast for the next 30 years

  Sounds familiar! It's just this is my only place Mortgage was 61% of my take-home last month, though so I suppose I should be hoping for hyper-inflation to inflate my salary and bring down the size of my debt! Maybe in 10-15 years I'll think about a second place, but by that point I'll only have 20 years to pay off a mortgage or thereabouts :-/ bah, if I have kids they can fend for themselves! 

Anyway, don't get me wrong .. I wish you all the best, too  Mr Landed Gentry 

Its a killer mine varies from 48% to 58% depending how much over-time I can blag.

I'm still paying back government student loan, but that should be paid of within next 5/6 years, so that should help

[aaronjb]

Yep - fortunately I have no other real debts.. unfortunately the house was a bit of a basket case when I bought it and still needs a new kitchen, garage, the garden doing, rewiring and the trees cutting down..  (Fortunately it at least had two reasonable bathrooms, and I've already had the single glazed draughty windows replaced and the central heating done)

I try not to think about it all or it's a bit overwhelming!

Hopefully all be worth it in the end.

[millwall]

Rental market has gone crazy in the last few years with house prices rising.

A basic 2 bed gets £90/100 PW round these parts, where as old 3 beds in not so good area commands a minimum of £95 PW.

Oh how I listed to my old man more when I was younger. :-/

Blimey, I could rent out my 1 bed flat for about £250/£275 a week

we are getting 190 a week  rental market is very good at the moment   although to get a good deal on the mortgage we had to have 35k deposit  so will be very tough for a while  but ultimately worth it   we are now saving to buy another early next year   going to be more struggling and headaches  but hopefully in the future my kids will reap the benefits    he says whilst touching wood and crossing fingers

Yeah, another reason I picked London rather than the North, where I could get lot more for my money.

If the worst happened and I lost my job, I could rent it out. There are 5 different tube/train line stations within 10/15 min walk of my flat, one of them is literally a 50 second walk, other is in Zone2 so it would be easy to find rental income.

What kind of paperwork did you have to get in place to rent these days? Think you need gas/electric certification and such?

oh yes thats another can of worms  but as im trade and have made many friends in various other trades got my gas and elec certs for beer tokens  but they need doing annually without fail   we also had top end smoke alarms and carbon monoxide alarms fitted   

[skyblue]

Rental market has gone crazy in the last few years with house prices rising.

A basic 2 bed gets £90/100 PW round these parts, where as old 3 beds in not so good area commands a minimum of £95 PW.

Oh how I listed to my old man more when I was younger. :-/

Blimey, I could rent out my 1 bed flat for about £250/£275 a week

we are getting 190 a week  rental market is very good at the moment   although to get a good deal on the mortgage we had to have 35k deposit  so will be very tough for a while  but ultimately worth it  we are now saving to buy another early next year   going to be more struggling and headaches  but hopefully in the future my kids will reap the benefits    he says whilst touching wood and crossing fingers

At least you will be spared watching the wall for a while now    Well done too

[millwall]

Rental market has gone crazy in the last few years with house prices rising.

A basic 2 bed gets £90/100 PW round these parts, where as old 3 beds in not so good area commands a minimum of £95 PW.

Oh how I listed to my old man more when I was younger. :-/

Blimey, I could rent out my 1 bed flat for about £250/£275 a week

we are getting 190 a week  rental market is very good at the moment   although to get a good deal on the mortgage we had to have 35k deposit  so will be very tough for a while  but ultimately worth it  we are now saving to buy another early next year   going to be more struggling and headaches  but hopefully in the future my kids will reap the benefits    he says whilst touching wood and crossing fingers

At least you will be spared watching the wall for a while now    Well done too

im sure i will manage a few games





if she lets me

[markspark]

Well done on the second house onwards and upwards it gets easier the more you have good luck 

[Lizzie_Zoom]

Nice one Millwall!

No doubt we will soon see you featuring on the BBC's daytime show, Homes Under The Hammer

[millwall]

Nice one Millwall!

No doubt we will soon see you featuring on the BBC's daytime show, Homes Under The Hammer

that is exactly my plan lizzie  next purchase will be from a auction   been doing a bit of working out and with my mum and dad onbard we will be looking to buy in the next couple of months   my aim is 4 houses bought and rented out in the next 10 years  at last it feels like im doing something worthwhile for my kids future