Nationwide Building Society Quarterly Regional House Price Update

[Martin@AS Financial]

Where in London will you find anything big enough to live in for £350k? I'm outside the M25, down the A24 and £350k gets you a 45sqm "house". Also 35yrs is one hell of a mortgage period

Apologies as I wasn't very clear. The example of £350,000 was for the loan size rather than the purchase price which would factor in a buyers deposit that they were putting down.

With most mortgages, you can overpay the mortgage by 10% of the balance so can simulate a shorter term by making additional payments. A longer term may be useful for first time buyers for example who are expecting their income to increase over the next few years.

[SueEllen]

Apologies as I wasn't very clear. The example of £350,000 was for the loan size rather than the purchase price which would factor in a buyers deposit that they were putting down.

With most mortgages, you can overpay the mortgage by 10% of the balance so can simulate a shorter term by making additional payments. A longer term may be useful for first time buyers for example who are expecting their income to increase over the next few years.

Still a fail.

Most first time buyers in London and the SE are well over 30.

They don't want a one bed flat but somewhere to bring up their 1-2 children in.

[dsc]

Apologies as I wasn't very clear. The example of £350,000 was for the loan size rather than the purchase price which would factor in a buyers deposit that they were putting down.

With most mortgages, you can overpay the mortgage by 10% of the balance so can simulate a shorter term by making additional payments. A longer term may be useful for first time buyers for example who are expecting their income to increase over the next few years.

Actually I cocked up myself as later on I realised it's £350k + deposit, not just £350k alone