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hitman247

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About hitman247

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  1. My apologies if this has been already posted. http://www.thisismoney.co.uk/mortgages-and-homes/buy-to-let/article.html?in_article_id=517821&in_page_id=56&ito=1565
  2. Hi Everyone, Just got this e-mail from Allsop. I was at savilles last auction and it was the same. ---------------------------------------------------------------------------------------- What Recession? Allsop Residential raises £56.5m and 90% from Two Day Marathon Property Auction As market leader in auctions, Allsop's first residential sale of the year was always going to be seen as a barometer of market conditions. Those harbouring any concerns of a weakening market were quickly reassured as the Ocean Suite of London's Cumberland Hotel filled to the point of overcrowding on the mornin
  3. i dont see it happening. I just came from the mchughe residental property auction in london today and it was simply rammed full. people were in a frenzy and i was gobsmacked by some of the bidders. theres still alot of life left in the market judging by today. hitman
  4. i dont see it happening. I just came from the mchughe residental property auction in london today and it was simply rammed full. people were in a frenzy and i was gobsmacked by some of the bidders. theres still alot of life left in the market judging by today.
  5. Alright everybody, What are your thoughts on suggestions that 1) house prices will stay buoyant until average earnings catch up? Hence no crash. The minimum wage did go up? 2) The flood of immigrants will continue to fuel the buy to let market especially in London. 3) Also the common belief among people I have spoken to is that a crash in an election year is unlikely. The governments not that stupid and interest rates will probably stay on hold. These are common beliefs amongst my friends and professional relations such as estate agents, accountants and solicitors (who still continue
  6. thanks. Its a real investment. however i keep having the feeling that i've missed somthing out. thats why i posted my investment idea to see if theres some rule or guideline i'm not aware off regarding conversions. its only the 2nd time i've been on this website. At 1st i dismissed it (few months back), but after visiting it again today i realised some of the ppl here really know their stuff and have actual experience (hence my post). thanks for the info.
  7. made me chuckle. i've never heard the whole property situation put this way before. maybe sir gordons not so bad afterall!!!!! got me thinking anyway. Ps> not to mention u can sell up your 230k house and move to spain, south africa, croatia .........and buy a f**king palace.
  8. true, (I took the outline plans just today to the local planning department. their officer said the chance of planning approval was 50/50.) I told the estate agents that i would only buy the house on the condition that planning premission was accepted. i.e. I would back out from the deal if pp was refused. thanks for the info
  9. I'm looking to purchase 4 bed house in leytonstone E. London for 330k (subject to planning permission being granted for conversion into 5 units) 100k deposit, 230k debt, £1400 monthly payments (quote from APS mortgages) I have a further 100k (cash) for building works. Total cost equals 100k + 330k = 430k maximum. The current vendor has applied for planning permission for 3 x 1 bed flat ( 1 bed + kitchen diners + WCs / no receptions) est. Resale value 110k 2 x studio flats (with over 30sqm floor space). Est. resale value 105k total equals 330k + 210 k = 540k 540k less 430k = 110k
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