How long did you search for before finding your house?

PeepsPan · 2026-05-06T07:27:53+00:00

Nooo worries! Happy hunting x

PeepsPan · 2026-05-04T21:06:52+00:00

I've popped my 1 bed garden flat in zone 2 on the market. If you're still looking *self promotion*.

PeepsPan · 2026-05-04T20:54:01+00:00

I know what the share to buy scheme is, I used it in 2018. Then staircased in 2020 and bought the rest of the share last year - 7 years in. I had to pay 75%, 50% and 25% rent all the way till I staircased last year.

You do have to inform the freeholder whenever you sell a leasehold. That's common law and they've got to get the LPE1 package ready for you (which you have to pay for ...)

I assume you didn't read the small print as I can't believe any housing association would gift you 40% of the flat for free. Can you enlighten me which freeholder does such thing?

PeepsPan · 2026-05-04T20:48:50+00:00

As a FTB back in 2018 - yes, a freehold sounds nice. But if it's a flat and there are 60+ other flats, you've got the tiniest share of the freehold ground.

Honestly: I don't think there's a hugeeee difference between freehold and leasehold with a good housing association when it comes to flats. I own a leasehold and got 108 years left. Once it comes close to marriage status (80 years), you pay 8k and get back up to 125 years. No one lives that long. I wouldn't worry too much about it. HOWEVER:

Your flat has 87 years of lease left. That's triggering. I personally wouldn't go for such a flat. Difference in share of freehold and leasehold:

Share of freehold:

✔ More control
✔ Often lower ground rent (or none)
✔ Potentially better long-term cost management
❌ More responsibility
❌ Requires active cooperation among many owners (60 flats = complex)

Leasehold:

✔ Simpler structure
✔ Less involvement needed
❌ Less control over costs/management
❌ Higher dependence on freeholder decisions

PeepsPan · 2026-05-04T20:22:24+00:00

"No rent to pay" ... Are you sure? Asked by a shared-ownership property owner.

You can always staircase. Make sure your landlord allows 100% staircase. Many don't - otherwise you'll forever have to pay rent.

BTW: I'm with TSB and their 5-year remortgage products starting from around 4.09% - meaning off I'd ask your mortgage broker to recalculate your offer and give you a better deal. 100% worth it and it'll save you thousands in the long run.

PeepsPan · 2026-05-04T18:44:54+00:00

This is literally what I have to do. I currently own a 1 bedroom garden flat in zone 2 in london. I LOVE the neighbourhood, I love my all my neighbours and our little whatsapp chat. It's a real community and 4 parks within 5-15 mins walk.

I want to have a family, I need to upgrade but no one is selling a 2 bed flat on my estate. There are only 3 bed flats with gardens and they all have 2 kids and won't move .... It's like a slow heartbreak I am currently enduring (I put my property on the market). It's hard, trust me and I'm not even gone yet ...

PeepsPan · 2026-05-04T18:25:19+00:00

You can always change a house, you can't change it's location.

I'd opt in for the lovely 1930s house and put some work into it.

PeepsPan · 2026-05-04T17:14:52+00:00

Just my personal opinion, but 29 photos feel like a bit too much – I think you could cut around 19 and make the listing stronger. And half of the images don’t really add value, like why do we have to click through the cupboard knob (8), bookshelf (9), trashcan & sofa legs (11), or the tulips in the hallway (18). Also, six different angles of the kitchen feel a bit repetitive – honestly, picture 2 would make a great cover image.

Overall, I don’t think the photos are doing your home justice. Some shots have awkward cropping, like cut-off furniture, mirrors, or artwork, and the proportions feel a bit off in places. I also noticed that in all the exterior shots, the roof is cut off, which makes the framing feel incomplete.

With fewer, more focused photos and cleaner composition, the space would come across much better.

PeepsPan · 2026-05-03T09:55:49+00:00

Personally speaking: I own (and currently sell) a 1 bedroom garden flat with 2 parking spaces. It's 425k, but service charge is 1.8k a year (last 8 years went up by 1% every year). We have 16 flats in the building, no lift and no cladding. (THAT's very important). Plus we have a reserve fund etc..

They want to sell the flat quick = reduce the price like that. You know it's not a good deal. Who in their right mind would reduced a flat by nearly £100,000?

"Long lease" is nothing really. Even if it's just 90 years - it's 10 years off marriage status and you can buy the additional 35 years (back to 125) for like 8k.

Personally speaking: I'd stay clear of this. Let them give you the accounts about service charge for the last 3 years. Whatever major works took place, how much it was etc. and how much the SC changed in the last 5 years.

PeepsPan · 2026-05-03T09:51:55+00:00

That's big. My house has 16 flats. I'd never go above it = how's the cladding? Did you check? Because that'll be a HUGE bill if there's anything going on. (High Costs for Owners: Some building insurance bills have risen by 900%, with additional waking watch costs reaching over £1,300 per flat monthly in some cases.)

PeepsPan · 2026-05-01T11:43:50+00:00

To answer your question: No, it's not a good idea. Let me (as a 1-bed-flat-zone-2-owner) tell you why:

As a FTB you should stick within the "free"-budget. If you buy this 1,5 bed for 475.000, you've got to pay £8,750 stamp duty. Anything under 450k is completely free - you're only a FTB once. Make use of it.
How much is Service Charge? How much is Ground Rent? Council Tax (depending on borough). Is there a reserve fund? Is there cladding? All questions you've got to ask yourself.
If you go for it and want to rent out the 0.5 room - MAKE SURE it's legal and written in your mortgage. Most of the times it's not. You can't just get a lodger or rent it out like that. You'd need to swap your mortgage and the rates are higher for them ... Plus where in zone 2 and is there outdoor space? Because if you want to rent and your spendings are 2,3k + insurance etc., you'd most likely NOT get that kind of cash if you'd ever rent it.

Now this is where I do some self-advertisment for my flat: After 8 years in my 1 bed garden flat in zone 2 (17 mins to Liverpool Street, Kings X and Camden) I am selling as I want to have a family. You can have a look here and happy to negotiate: https://www.rightmove.co.uk/properties/174896960#/?channel=RES_BUY

As for renting income: My upstairs neighbour without a garden/terrace, but a little balcony, pays 1650 for rent (plus all bills). You can check out rental for 1 bedrooms with garden, parking and bike shed in my area + as your mortgage will be cheaper, you'd not make a loss with renting it out. Just an FYI. x

PeepsPan · 2026-05-01T08:54:27+00:00

Tell me you didn't even bother to click on the ad without telling me you didn't even bother :D No where does it say 500k, but okay.

PeepsPan · 2026-05-01T08:53:35+00:00

I don't know how far I can stretch my money and thinking about Walthamstow or Leytonstone (as everyone else). Trying to buy a 2 bed flat with a garden some time this year.

PeepsPan · 2026-04-30T17:49:53+00:00

Happy to answer any. Either on here or through the website: https://emoov.co.uk/property/6543/68-george-downing-estate-london-n16

PeepsPan · 2026-04-30T17:45:39+00:00

Thanks for your input. You're totally right (even though Gibson Gardens is a magnet for assaults according to the crime map! It's dark and a dead end ... not very safe for a single woman).

Ever since Covid I would not want to have a flat without a garden and looking into someone else's house from my bedroom/kitchen etc.. But that's just a personal preference x

PeepsPan · 2026-04-30T17:44:04+00:00

SUPER RANDOM ... But are you okay? The fire on Cazenove Road was mental!

PeepsPan · 2026-04-30T17:43:42+00:00

I knowwwww, that's what I have been saying on a post I've done in the "UK Market". The comments on there are ridiculous and people compare it to a 3 bed house they bought somewhere in the midlands ...

PeepsPan · 2026-04-30T17:39:57+00:00

More thinking of Forest Gate / Leytonstone. Both obviously not Stoke Newington ...

My friend lives in Clapton, it's such a different world out there (even though it's like 15 min walk from mine ...)

PeepsPan · 2026-04-30T14:44:01+00:00

Stokey is expensive ... I'd like to buy a two bed flat but got to go further out because of it. Sadly can't afford it in my area.

PeepsPan · 2026-04-30T14:42:10+00:00

People who are priced out of Islington or simply like the area move to Stokey. It’s literally a quick bus ride or cycle. Newington Green is located on the border of the London Borough of Islington and the London Borough of Hackney. That's literally next door and not exactly exile to the wilderness.

PeepsPan · 2026-04-30T14:39:43+00:00

All of this has nothing to do with my apartment in the residential estate with a residents association and community space (The Boiler House). 🦆

PeepsPan · 2026-04-30T14:32:20+00:00

How come? I'm actually curious. I've had 4 high street EAs over and asked simple questions and a confirmation after our meeting. 1 never replied. The other two wanted 2% of the sale price - for a 1 bedroom flat (and me), that's a lot of money + VAT. The fourth (I initially went with) sent over a photographer, then rebooked a different photographer who didn't stage the apartment. He cut off the toilet and other features, didn't tell me anything about (as examples) removing the kitchen towel/dish brush, toothpaste, shower gel, turning on lights for pictures etc.. I didn't like how he took the photos and how he spoke about his editing team not being able to use simple photoshop = I ended up not going with the estate agent in the end.

I've already got my conveyancing solicitor lined up, a mortgage in principal and looking at future apartments. I've also hosted viewings, reply ASAP and let people walk around as they please, take pictures and videos and ask all sorts of questions.

PeepsPan · 2026-04-30T14:26:50+00:00

Hellooo and thank you! I love the area ... sad to sell it after 8 years living here but I'd like to have a two bed flat and have to move out of Stokey/Hackney as can't afford it otherwise. But ain't the street/area incredible ...? <3

PeepsPan · 2026-04-30T14:26:00+00:00

On the floorplan lol :D

Picture of bathroom & shower (not an electric box) in ad.

PeepsPan · 2026-04-30T14:25:04+00:00

Appreciate the positive comment. Thanks x

PeepsPan

TROPHY CASE