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focus

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  1. focus

    Cardiff

    Hi Anyone know the development mederian gate city center?
  2. focus

    Meridian Gate Cardiff

    Hi Ragtag. I myself and I know another few people who would rather walk away from our deposits. We are afraid Delph will sue us its a hard call. My apartment is after dropping in value by 6K I can only get a mortgage of 60% of the value. I must come up with over 40k. I can only come up with 20k they are offering me an interest free loan over a period of time to complete. Really I don't know what to do.
  3. focus

    Meridian Gate Cardiff

    The apartment was purchased as an investment in 2006 and I didn't intend to flip the apartment I want to purchase and hold long term. I couldn't have secured a mortgage in 2006 for 2008 I was told by the agent that sold me the apartment that 80% LTV would be no problem. So now after trying about 20 odd lenders all saying no most of them said they don't do new builds,I have no other option only try and see were I stand with my purchase contract. I am sure the contract is well secured against any default in completing on the property. My cynicism has it that you exchanged without a mortgage in place because you never intended completing - you always wanted to flip it before it completed. Which is, as you have found out - a high stakes game. However, putting that aside, you are going to need proper legal advice now. So take the contract you signed and all the paperwork you have to a proper independent solicitor who specialises in property litigation - having read it cover to cover yourself first..... - DO NOT just use the one who acted on the exchange - he should see the conflict of interest riding over the hill and should refuse to act anyway - if he's not pointed out the risks to you he's in trouble.... Unless you told him you wanted to do this and did not want to pay more than the minimum and he's made it clear in his engagement (also called a rule 15) letter that he is not giving you investment advice etc. etc.....
  4. Hi I purchased an apartment in meridian gate Cardiff. Its a new build and will be complete in October. I paid 134K for a 1 bed. I am having trouble getting a mortgage as I need to try and get 80%LTV and the most I can get is 70%. The company that sold me the apartment is phoning me every week to know what is the story with my mortgage can I get it, they seam to be worried if I can complete on the property. Can anyone advice me firstly did I pay to much for this apartment and secondly it is worth completing on the apartment and thirdly if I am not able to complete what will happen?
  5. Thanks all for your replies. I new it was a gamble when I purchased as markets can go either way. My problem is they gave us a date 2010/2011 for completion on the brochures not on the contract. The development is now postponed and work will not start again until the second quarter 2009, a delay of 11months. There is no guarantee this will happen. With the current climate in the property world I think banks won't give funding for another 2 years at least. The building is only 70% sold I have no proof of this but this what the developer says.The project is costing £220mil the development is taking nearly a year more to complete and rising cost in the building industry can the developer sustain this. I have reson to be worried. I have been told there is no way out of the contract and no refund of my deposit.
  6. I am giving the contracts to another solicitor tomorrow. So hopefully they will give me some advice.
  7. Hi I contacted my solicitor they siad they are as much in the dark as I am and don't know when they will get an answer from the developer. I contacted the develpoer they said they don't know when they will be back building but said it will be built. I asked can I pull out of the contract and they said no, becuase they did not specify a date on the contract when the building would be finished. I just hope this dosn't go on for months even a year.
  8. I purchased an apartment in Lumiere Leeds due to complete in 2011. I got a letter to say the project is to be put on hold until the market improves. I have played 5% of the purchase price on the apartment. On the contract it does not specify a date of completing just says we will notify you 3 months before completion. Looking for advice on what I should do next.
  9. Hi I friend of mine has approached me on purchasing apartments in Hull, 1 beds 500 sqft for 130K. He is sending on info in the next few days. Has anyone any information on good and bad areas of Hull ?. What is the average price for apartments in the city of Hull ?. Is there good rental demand ?. Any info would be appreciated. Thank you.
  10. Hi I purchased a 1 bed apartment in Eccles new road the clock tower development. I paid 96k for this it is costing 5k to furnish it, and I am told rents of 500 to 550 are achievable. Anyone know this development ?.
  11. Hi I have two houses in Manchester that I purchased in 2004 from a company that are based in Manchester. The houses worked very well for me I was getting good Yields. The houses are rented to asylum seekers. The rent is paid by the goverment to a management company who then transferred that money to my management company and then it is transferred to me. On the 1st of 07 the property management and sales company was split and the management was sold on to a new company. The same people worked on the management just under a new name. It's a disaster since. I don't get rent some months and only half more months I have a shortfall of £10,000 at the moment. When I call to ask what rent is on houses I am given different amounts so I really don't know what I should be getting. I have contacted them 3 to 4 times a week and one pushes the blame on to the next. Can anyone give me advice on how to tackle this problem. How do I find out what rent I should be recieving and how do I put enough pressure on them to get my rent and does anyone know of a good management company in Manchester Any help would be apreciated. Thanks
  12. Hi Ralf. The apartments is in district II. Kelemen László. The size is 35m2. Thye asking price is €66,510. This includes agent fees. It needs a bit of touch up not much though.
  13. -------------------------------------------------------------------------------- Hi I have recently being offer a site in CATHEDRAL QUARTER BELFAST. I am looking for information on the area, are property values in this area rising or stagnant, or falling. Is there a large amount of building going on and proposed in this area. What type of property is attracting most attention residental or commercial. Any advice on this area will appriciated Best wishes.
  14. :angry: Hi I have a studio in district 2 for the last 3.5 years, I want to sell it because I have been unable to rent it. I have been trying to sell it for the past year. The company I am dealing with don't have an interest. Can anyone recomend a good sales agency for this area.
  15. I am thinking of purchasing an apartment in Halifax it is on Horton street and is an off plan it won't be completed until Jan 09. It is a 2 bed apartment on the second floor sq ft 739 and the price is £137,000. It looks good value, I have searched plenty of property sites on the net with property for sale in Halifax and can't find anything at that value. I contacted a letting they said a property with this description and location should achieve a rent of between 600 to 650 per month. Anyone with an expierence of property in Halifax?
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