Q I’m in my early 20s and just about to finish university. Through university scholarships and working, I have been able to save about £20,000.
I want to buy a property once I start working (I’m due to start earning £30,000 from September) but know I won’t be able to afford somewhere in London on a single salary for many years, even with all that I’ve saved. I’m reluctant to buy into a shared-ownership scheme as I have concerns about being priced out of buying the rest of the property as property prices continue to rise, alongside the rent that I would have to pay in addition the mortgage. Therefore, I was considering buying a flat in another city (such as Nottingham, Glasgow or Birmingham), so that I could rent it out while still living at home and continue to save for my next property.
