Hello everyone !
I recently was interested to buy a property in kew district (prices between 600,000 and 750,000 pounds) but I never tried to get informations about mortgages and conditions required for getting a bank loan.
Yesterday, I tried to simulate a loan on HSBC website and my big surprise was to find out I only could borrow 224.000 pounds for a couple earning 80000 pounds per year. Supposing I would have a deposit of 100.000 pounds to buy our first property... Is it that impossible to buy a property near London ???
I may be a bit naive but I never get into loans and such things so some of you probably won't be surprised as I was.
Can someone explain me or introduce me to properties system in the UK, especially in London ?