kids buying apartment

[Laka]

How is it in UK for your kids to get themselves an apartment.... my son is now looking for buying an apartment,,,,its ridilicious how high prices is nowadays,,,,,he has to lend more then we ever had for onr room with kitchen compared with our house......they also need a minimum of 15% in cash of the total price, 85 % can you lend in a bank... how is it in UK for youngster ?? Well getting out in the snowfall for some christmas shopping..:thup:

 

[Andy808]

Personally I don't understand the obsession with owning property. Having rented all my life I have no problems when a window starts leaking as I call the landlord. I also live in a very expensive part of the country to buy property as it's a very popular holiday and retirement destination and house prices are as expensive down here as they are in London while our wages are some of the worst in the country.

 

[CMAC]

Personally I don't understand the obsession with owning property. Having rented all my life I have no problems when a window starts leaking as I call the landlord. I also live in a very expensive part of the country to buy property as it's a very popular holiday and retirement destination and house prices are as expensive down here as they are in London while our wages are some of the worst in the country.

Security
Control
Investment

Lots if reasons really but I understand some areas, especially London, are just stupid when it comes to sale and rent prices.

There's a lot to be said for renting, most of Europe do it but they probably have better landlord contracts for security and peace of mind.

 

[chrisd]

I guess that we prefer not to rent because the landlord buys a property, pays a higher mortgage as it's buy to let, and then expects the tenant to cover the mortgage, insurance, fees, etc - so you might as well buy your own if you can and reap the benefit of capital growth as well as the landlord can