Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
I’m currently renting in an expensive area down South where I will never be able to afford to buy a place for myself.
Obviously I am not hugely enjoying spending so much on rent when there is the potential to buy property instead. I was thinking of buying somewhere near my hometown in the North where it is much more affordable, and letting that property.
Even if letting the property did not quite cover the mortgage repayments I could still afford to contribute extra from my salary, and continue to rent down here.
Having done some Googling (with very limited results) it appears that lenders do not look too kindly upon people in this situation who look to buy their first property without the intention of living in it.
Could anyone recommend where to start, and indeed if I really have any chance of this happening or just need to give up?
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