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b_real

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Everything posted by b_real

  1. Might relieve the immediate cash flow for the tenant moving in, but you end up paying more if you stay for more than a year. I've been in my place 5 years, an extra £20 a month to cover the fees would have now costed £1,200. If they're going to pass the cost on to the tenant via increased rent, it should be removed once the costs of doing checks has been covered. And +1 for getting landlord checks too!
  2. BA in business, MSc. in software technology, PhD in pharmacoepidemiology using real world health data. The more I've learned, the less I know.
  3. Yes that's the issue, but I don't see it as a simple one. It's difficult enough to save as it is, and now its even more difficult. So how am I supposed to save up for a house when the amount I can save is diminishing every year while the price of houses increases at such alarming rates. The two lines on the graph are going in different directions, and never the twain shall meet. Yes I can move to a cheaper place but then what? It would relieve the pressure for now, but the rents there will just keep getting banged up until I get squeezed into a smaller place again, while landlords all profit. By the time i'm 60 i'll be living in a HMO boxroom.
  4. https://www.gov.uk/private-renting/rent-increases The thing is, how the hell do you actually measure what's in line with average local rents? The property i'm in is pretty unique. It's old and in an area where a whole bunch of new builds have just gone up that have all been bought by investors/btl who are renting them out at a fair amount above what I'm paying.
  5. Tomorrow... WE MARCH!!! I shall point out the above inflation rises to them, but I suspect they don't give a toss about that because its not their fault that 'rental prices have increased above inflation'. It is just a bit irksome that they're even doing it... Its not like the landlords mortgage is going up. I've rented a lot in my time and this is the only place where they've increased rents consistently. It feels like the increase is going entirely to the managing agent to cover their increased costs, not the landlord. Basically I'm just a bit mad and really need a hug. Or rent reduction, i'd prefer that.
  6. Who here gets their rent banged up every f****n year? I've been renting current place for 5 years, and had a rise for every single one of them. The increase has been around 3% every year: Year % increase 2014 - 2015 2.56% 2016 2.50% 2017 2.91% 2018 2.83% 2019 3.64% This may seem like a small amount every year but its higher than inflation, higher than my wage has been increasing, and totals around a 14% increase over the period. This is really starting to grind my bloody gears, particularly the size of the latest one. The reason for the increase is "to keep in line with the market". The landlord is an actual lord of some sort who owns pretty much all the properties in my area. I rent it through a lettings company, who basically do everything to stop the landlord having to speak to us. I've been a good tenant throughout the period, no missed payments, keep the place in good nick etc., they inspect regularly. I've been on a rolling month to month tenancy since the end of my first year in the place (i.e. 2015). Is there anything I can do to refuse this latest increase, that is not a section 13 tribunal? I'm not sure if the tribunal would be in my favour, I'm in Cambridge and the rental market is f*****g nuts. Or would even the threat of a tribunal work in my favour? Or do I just have to suck this up like the plebeian I am.
  7. Not defending Persimmon here but the 8,000 figure you're using is the number they sold under the HTB scheme. I imagine their profits were made from selling more homes than that, including those not sold under HTB.
  8. Firewall. Anyone got some key extracts for us poor folk?
  9. The worst bit about it tho, will be that everyone who's bought using HTB will probably be let off the hook, re-compensated even, while those who saw it as the scam it was and either saved harder or bought more prudently and independently (at still inflated prices) will be left to rot.
  10. In a similar boat to the OP and this response pretty much sums up my thoughts. I'm tempted to put in super low (-15% to -20%) offers for one off properties (old builds, nice areas) and if accepted that would mitigate a good proportion of any future falls (or would it... assuming the fall would be from todays asking price rather than todays sale price if it sold). And even if price fell, i'd have a nice house in a decent area to live in for years or rent out if I need to move. The one thing I'm struggling to get my head around tho, is how easy it will be to obtain a mortgage after Brexit compared to before Brexit? I've already had a mortgage agreed on a previous house (that ended up failing the banks survey for being non-standard construction material).
  11. Thought you'd be more scathing of him ccc! Seems to me like he's still up to his old tricks... Disclaimer: I am one of a long list of people who have been been shafted by DJ Alexander at some point. He didn't even use lube...
  12. I'm about to submit an offer on a probate sale. It's in a high demand area and I actually think it's reasonably priced for its size/condition (£2,830psqm, needs a lot of work tho). It had 2 offers within 2 days of being on the market (last week) and I received notification yesterday for all interested parties to submit final and best offers by this Thursday, which are "to be in excess of £300,000" (which is the asking guide price on Rightmove). Re. probate, the previous owners died over a year ago, and the solicitors are now selling it. I was told that the solicitors could find no beneficiaries of the estate. I'm assuming that all the probate docs are in order but will check before offer. My question is, what is the solicitors motivation for the sale likely to be here? Price or speed of sale? I don't really understand where the money from the sale goes at their end. This might help me guide my bid, I'm good on speed (no chain, agreement in principle in place) but low on price. Currently leaning towards offering the asking.
  13. And is already being called Raab C. Brexit in Scotland ?
  14. https://www.theguardian.com/business/2018/jun/25/countrywide-property-sales-uk-estate-agency-profit Lot's of pity in the comments section
  15. 192? What parameters have you set on that? Current number of houses for sale in Cambridge on Rightmove is 697, of which about 400 odd are houses (detached, semi, terrace). Agree that a lot are reduced tho. Decent ones seem to sell quick for over asking.
  16. How patronising indeed! I get the idea behind it, because I can read. I read it the first time on the Rightmove advert. My issue is with the size of houses they're building these days, and the extortionate prices they're charging for them.
  17. I wonder what data he's using? This certainly isn't the case in my experience. Agree with the general message in the article tho.
  18. This has just made me dry wretch... 1 Bed flat in Kings Hedges - £299,000 - sorry 'Orchard Park'. Houses so small they're advertising living outside in the communal streets. Even the pictures look like they were taken on set on Peaky Blinders. Utter despicable c*n*s.
  19. And here's Cambridge by property type, again Jan 2000 to Dec 2017 (post above should read Jan 2000, can't seem to edit it)
  20. Thought I'd share this as was looking at Land Registry data today & decided to whip it up in power bi. (http://landregistry.data.gov.uk/app/doc/ukhpi) Sold prices by region for all property types, Jan 2001 to Dec 2017
  21. I can't see how this is relevant. Any vendor has the right to sell to a buyer even if the price is lower. Just because I'm family shouldn't make any difference.
  22. Thanks for the replies folks, that's given me a few directions to continue researching. It appears that this approach oscillates wildly between prison and no harm done. To be clear, I'm not trying to commit fraud, I'm just trying to make the best of a shit situation. I found this piece if anyone reading this is interested https://www.saga.co.uk/magazine/money/personal-finance/care/how-to-avoid-care-home-fees Not quite the approach I'm looking to do anyway, but worth pointing it out to rule it out.
  23. Having some family issues & hoping for some advice. Parents own their house with 40k left on the mortgage and 3 years to pay it off before repo. They separated and dad moved out about 10 years ago and is in supported living arrangements due to illness. Mum still lives in the house but is being moved into a care home in the next few weeks because she's ill and frail. They've had the house for sale for years, but its been poorly advertised and it is in a right state (basically my mum has been smoking 40 a day in it for about 20 years, it really stinks). It's on the market for around £125k. They had an offer a few weeks ago for £103k which my dad refused. The buyer cited high renovation costs to support his low offer. So basically, the house won't sell because its a shithole and and after looking at it myself I reckon it needs about £16k worth of work to make it either rentable or sellable (for new kitchen, bathroom, carpets and re-plastering walls & ceilings throughout to get rid of smoke). As my parents are both on benefits due to poor health, if they sell the house and their individual profit from the house exceeds £23k each, then that money will need to go towards paying for their ongoing care needs (I think, this is tbc, they're in N.Ireland ... where everything is complicated). So this all represents a possible opportunity for me. I could buy the house off them at below market valuation at a figure that doesn't breach their benefits payements (so for say £85k (giving them £22.5k profit each), renovate it and either rent it out or sell it. My questions are: Is there anything to watch out for from a legal perspective with this approach of buying property cheap from your parents at well below market rates? Would any of that be seen as inheritance and therefore subject to tax? Would having a buy to let mortgage for my parents house affect my ability to get another mortgage for my own house? (I'm currently a 40yo who's been renting for over 10 years now, and would hope to buy my own place in the next year or two). Sorry if all that is a bit of overshare but I'm in a bit of a state about it all and just want to make sure that i've got all angles covered off before I put any offer to my parents. My parents have nothing to pass on to me and they feel pretty shit about that, so this is an opportunity for all of us ... I think. Any advice welcome.
  24. I looked into buying a house in Cambridge that was sold as 'shared ownership'. Mainly out of curiosity. Basically, the guy selling owned 60% and the HA owned the remaining 40%. So I could buy 60% or more if I wanted. When I enquired about offering LESS than the asking, I was told that the guy selling would have to take the total hit on whatever the loss was, and that the HA would not move on price for their 40%, as the asking price was set at a surveyors valuation. Yet if I offered more, the HA would take their percentage of the profit. In other words, the HA take all of the reward, and none of the risk, in a shared ownership scheme. In other words, its a scam.
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