Advice re: buying a flat in London
Looking for some sound advice on buying a flat in London....
I'm 32F - expecting to be in London for another at least 5-10 years if not permanently. I currently pay approx £1k in rent and £200 in bills for a shared rental.
- £52k annual income (contract signed for promotion to £56k in 3 months)
- Take home about £3k monthly after tax, student loans and pension
- 60k in savings - 15k of which in a HTB and 18k of which in S&S (which I'd prefer not to completely sell)
- Incremental salary increase year on year (academic)
- Fixed term contract
I've been in employment since I was 16, have always worked alongside my studies, never missed a rental or bill payment, but have pretty average credit rating - I have never had a credit card or taken out any finance etc (other than student loans).
I'm looking at 1 bedroom flats in Zone 3+ (<£300k), some form of outdoor space (balcony/shared garden), share of freehold, near green space - they are few and far between but there's at least a few advertised each month within these criteria.
Would I be making a big mistake? Any advice v much appreciated :)