Want to buy a broom cupboard in London, how to borrow the £££

[Bozwell]

Are you allowed to do this for a new-build £600k property, and then immediately sell it and buy an existing £600k property you actually like?

Whether you can or not, stamp duty on a £600K house is £20K!

[unixman]

Maybe just continue to rent and in due course buy somewhere outside London.

There seems to be no end to the ridiculous housing bubble in the foreseeable future. Politics is feeding it. Immigration is feeding it. The City of London is feeding it. People will just live in smaller and smaller houses. Perhaps the SE of England will become like Hong Kong. The only possible disruptor is if we come out of Europe in 2017, or reforms on the City - unlikely. The City IS the government.

[adam42]

Hopefully the money supply-induced housing bubble will eventually burst, if that is what it turns out to be, and there are a lot of theories out there.

I guess I will wait for 3 to 5 years to increase my initial capital, although if the market doesn't stop going up, it all become academic.

I was hoping there were tried and tested strategies out there that people had used, hence my reference to a broom cupboard. I thought maybe I should just buy anything even if it is only a 1-bed studio on the M25 that I'm never going to actually live in, and then trade up somehow. Or perhaps find an architect building a self-build for a housing co-op of the type that didn't demand your soul. But I guess there's no such thing as a free lunch. Or even partially free.

[greenlake]

I thought maybe I should just buy anything even if it is only a 1-bed studio on the M25

Be careful what you wish for....

[PurpleGorilla]

Borrowing even £400k is a mega-risk in my view when you consider the state of contracting and it's future or lack of it.

Interesting, this is the ball park amount I am currently considering, it's either that, or shoe boxes with one toilets forever.

I get that a HPC is off the cards until the global financial mega bubble pops. So either wade in or sit out. As another decade goes by... It would be nice to have a proper pad before the clock ticks 50.

[Peter Loew]

Why don't you take 100k and buy 3 or 4 sub 100k properties in the north with a high yield.. get the cash flow coming in and bank on (slower than London) equity growth over the next few years

[PurpleGorilla]

Want to buy a broom cupboard in London, how to borrow the £££

Why don't you take 100k and buy 3 or 4 sub 100k properties in the north with a high yield.. get the cash flow coming in and bank on (slower than London) equity growth over the next few years

Because when the music stops, You'd be f-cked.

[BrilloPad]

Why don't you take 100k and buy 3 or 4 sub 100k properties in the north with a high yield.. get the cash flow coming in and bank on (slower than London) equity growth over the next few years

I tried that before. It only ends up with aggravation. And London property market doubles every 10 years. Its a money making machine! They only way is up!

[Peter Loew]

I tried that before. It only ends up with aggravation. And London property market doubles every 10 years. Its a money making machine! They only way is up!

Buying around the HS2 link should boost growth as commutes into London will be 'doable'. Depends what your goal is too, cash flow vs equity?

[BrilloPad]

Buying around the HS2 link should boost growth as commutes into London will be 'doable'. Depends what your goal is too, cash flow vs equity?

The idea of HS2 was to promote growth round the country. In reality, it just sucks more of the country's lifeblood into London.

How many stations are on the HS2 link? And won't it take a decade to build?