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About Upabove

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  1. Just on my way back from a visit to Reading. Interestingly there were signs up all across the place proclaiming " I buy houses! Fast cash!" Not seen that before, distressed sellers starting to appear on the market.
  2. I did actually look into these flats. However then did some police shifts in the area, Jesus Christ, you need to pay me to live there.
  3. To be fair water connection and rain water collection regulations are fair in areas of drought, rainwater being a shared resource after all. However such an exception clearly doesn't apply to florida!
  4. The impact of low IRs. If they were normal and you could get a normal return investing in the productive economy the owners would be forced to sell as keeping their money parked would be too expensive. However with near to negative interest rates there is absolutely no reason for asset managers not to simply Park their money in un productive assets. It starves the productive economy of investment and drives assets out of reach of actual consumers, yet another crime that the likes of carney have to answer for.
  5. Oh as a taxpayer I completely agree, just pointing out that for consumers an equity loan has some advantages, particularly in a falling market. However the poor uptake of the scheme might then just reflect the continuing belief by the public in hpi+++ forever
  6. Apologies for being contrarian, but surely if you believe, like most of us on here, that a major price correction is imminent then an equity loan like Htb is a far better deal than a standard mortgage? (even without the interest free period) But with Htb and get the benefit of home ownership but if the market crashes the government eats 40% of the losses and you don't hit negative equity
  7. Getting back on track, an anecdote from the commercial sector. I work in the same buildings as the John Lewis partnership (Victoria). They are currently planning to relocate 2 floors worth of IT staff out of London (36,500 Sq ft of space), when I asked a friend who works there why he said apparently the rent was just far too high! They are also apparently discussing whether to move the rest of their head office out of London as well (about 200,000 Sq ft) When the blue chips are starting to struggle to pay rent you know prices are insane!
  8. If the LL is reasonable maybe try talking to him direct rather than through the agent. If you explain the situation, promise to help with viewings and pay the higher rent why wouldn't he let you stay a couple of months extra on a rolling tenancy? If you have to you can even offer a bit of a rent premium. I know it would sting but would still be cheaper than paying all the costs in time and money and stress of moving!
  9. Has anyone been tracking rental values at all? When I moved to London I remember 1 bed flats being well out of reach starting at like 1300pcm mark for anywhere within 45min of Victoria. Now they appear to be close to breaching the 1000 mark! http://www.rightmove.co.uk/property-to-rent/property-60585862.html If that is the case it might get very interesting for the HMO BTL types soon, A room in a shared flat still seems flat at like 700pcm, but as the two values get closer how many people will start switching?
  10. What's the physical difference between a home and an 'investment property'? Surely just who is buying them? I would have thought this forum would always be in favour of more building, as previously mentioned I'm very happy for a bunch of Malaysian banks to pay billions to redevelop an industrial wasteland. Much rather they go bust rather than local councils, housing associations or actual UK citizens when the crash comes. Ok you might argue the current developments are prioritising 1 and 2 bed flats too much, but purpose built smaller properties are desperately needed, and hopefully will allow some of the butchered, multiple occupancy houses to be converted back into family homes as they were designed to be.
  11. My zoopla weekly rental alert (commuting distance of London Victoria) has just come in with 106 newproperties. Never been over 70 before! Typically around the 50ish mark. Rental prices for London flats seem to be in freewill for unoccupied properties. However price drops still haven't filtered through to the flatshare/spareroom market, guess it will take a while for leases to run out/inertia of letting fees to be overcome
  12. I get the bus past there often, and surprisingly there are some lights on in the towers, so some people must be actually living there. I imagine all those who are have bought shared ownership, and they sound like they are well and truly screwed
  13. This was the 2nd highest story on their digital edition this morning! Especially incredible given we are ein the middle of an election. Has anyone seen if it was as prominent on the front page of the paper edition?
  14. Non smoking clauses are pretty standard in private tenancies. Lose your deposit if you 'damage' the furnishings with smoke. Pretty easy to tell by smell if people break the rule. But do council tenants pay deposits? why should those getting housing subsidised by the state get a better standard than those having to pay privately?
  15. Still 500k for a 2 bed though. Just 50% to go before I can afford one on an above average London salary! #madness