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BA Baracas

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About BA Baracas

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  1. Don't think I've ever seen anyone wandering round London with the Metro tucked under their arm. They must pay TFL for all the manpower to clear the mess up.
  2. Does anyone else pick up the London Metro to pass the weary commute every day. The thing that struck me last week was that in the property section at least 50% of the For Sale ads were either Shared Ownership or substantial "loans" to cover the bulk of the deposit (providing the buyer with access to more attractive mortgage deals but lumbering them with a scary amount of debt). If that's the norm in the current London property market then surely it must pop at some point in the not too distant future?
  3. Thanks Matt, It will be like one of those old cartoons with a devil and an angel talking into each of my landlady's ears. The letting agent "Yes, you can squeeze more rent out of your fantastic property - you know it's worth it" Me "Have you had a look at the economy, redundancies. Better to have a stable and reliable tenant than take the risk" P.S I'm the angel in case anyone had any doubts
  4. Hi Pepto, I'm just north of Ealing Broadway (2 mins walk) and its a 2 bed also. Its a fair size flat and a great location but being pushed a bit out of my league. Thanks all for your comments. I'm working out my response.
  5. Dear all, My landlady has been speaking to her letting agent who has told her that she can get between £100 and £300 more than I am currently paying (in Ealing). I got 3 months left on my contract so the writing is on the wall. I read somewhere recently that rent arrears has been rising recently so wondered if anyone had some stats that I can throw back. My best play is to highlight the risks - I'm not paying any more for the flat. Ta
  6. State sponsored gambling is a tax on the poor. Hope the taxes that they collect are spent on the poor.
  7. No they didn't. And when I sold I didn't add the improvements to the asking price because the market couldn't bear that additional cost.
  8. That is even worse than I thought. So the HA's just go back to the govt for more money to cover the shortfall? We need to wind these organisations up.
  9. MattW My above post might also explain why the Shared Ownership properties have an asking price that is higher than the market. When you sell a SO property you have to use one of the surveyors on the HA list, and then you are committed to sell at that price for a minimum period of time (6 months if I recall). Only after that period has elapsed can you negotiate with the HA to lower the asking price. That's what I had to do.
  10. The way I look on it now is that Housing Associations are just glorified BTL landlords with the Yield being the rent that is paid. The flats are valued at local market rates but do not in my opinion sell at local market rates - except when the HA's sell them as shiny and new. On the older properties the annual rent is around 2.5% of the non-owned value of the property. With the new developments its more like 3.75%. The higher the value of the property the more rent they can command. I guess the HA's need a minimum "yield" to keep the scheme viable, so it's in their interest to get the highest price that they can. The HA's must be taking a big hit just now as any resales will be valued lower than when new and they will command a lower rent. Can a HA go bust?
  11. Hi Laurie, Sorry to hear about your experience with the Housing Association. I had a shared ownership flat until 2009 and I really wasn't impressed with the HA either. I got so fed up with them I sold up - they scheduled huge building renovations and then imposed an extra £240 a month rent hike for a year to cover the costs. I tried to appeal to spread the costs over a longer period but they made me feel pretty small for suggesting such a thing. Did a pretty crappy job of the works too. As soon as the building work was complete I sold up The significant thing about the whole episode was the the surveyor that came round to evaluate the place when I did sell had very strong opinions about how Shared Ownership was inflating house prices. In other words the so called solution was actually making property more unaffordable. Once bitten, twice shy for me.
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