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House Price Crash Forum

betonr

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About betonr

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  1. I have just received this report http://www.chestertonhumberts.com/global/chrome/may-2013-chrome-property-research.pdf Some remarks:
  2. I believe this will happen soon in the UK as well.. I've noticed, while looking for a flat, that some BTL investors are putting properties they've bought 2 years ago on sale. Link to ZeroHedge
  3. I'll have a look, but since I pulled out of my purchase I decided to wait and see. Today there are so many mixed messages in the media.. the eurozone is now relaxing the austerity measures which could mean foreign money flow to London slowing down.
  4. a 2 bedroom flat for £250k in London? Tell me where and I'll get a mortgage asap So far I haven't seen many 1 bedroom flats for less than £330k
  5. So, I can't create a new post, but just saw this on Reuters House prices to see fastest rise in four years - Reuters poll ..."The price of London homes, long the magnet for rich overseas investors, are expected to soar 5.0 percent this year and next as demand in the capital continues to outrun supply."... Link to Reuters
  6. Just to add to the "Something is happening" thread: 1. I used to rent a flat in Royal Victoria Docks, in London, and before the Olympics the landlord wanted to raise the rent. I left the flat and moved to a better area for just a bit more. 2 months ago a lettings agent called me asking if I would like to go back to that area because they had some units available and they were calling previous tenants to check if we wanted to return. (WTF #1: I always thought this was a landlord market?) 2. A builder in need of working capital while developing in zone 1, where there are a lot of buyers and Asian investors? There must be something happening...
  7. That I shall pass, but thanks Anyway, I know what everyone here will say. I already made many mistakes in all this situation, so if I can still get out, than it's better to get out. I'm new in the forum btw, but have been reading a lot of new and old threads for the past 2 weeks and I find it quite useful.
  8. So, this just happened to me... A month ago I reserved a flat off-plan in London. Very nice area. EA didn't show any flexibility on the asking price and because I was keen, he influenced me to go for the asking price because the developer wasn't negotiating at that stage.. all that thing about having a lot of interest, etc. And the fact that I chose the best layout as well, which usually attracts more interest anyway. The development is in its 3rd phase, having another 3 to go until 2018 (originally scheduled to complete by 2017, but already running late). They didn't offer any incentives, nothing could be changed or adjusted to my taste, which was already bothering me.. it was feeling I had reserved under pressure, as if I was going to waste a great opportunity. Anyway, today my solicitor received a letter saying there is a memorandum where the seller wants to get access to the deposit upon exchange of contracts. Is this something usual? To me this indicates the builder is having some liquidity issues as they need working capital and usually they don't need to access deposits so quickly, right? Or am I just too scared? There are also 4 properties delivered on phase 2 for sale for quite a while and the owner (investor from HK) is asking for a ridiculous price. Btw, I'm a FTB, not using any government scheme, so I've been quite naive in the beginning. But I haven't exchanged yet and I'm inclined to cancel this purchase as I feel I was manipulated and now I am questioning the financial health of the builder. Comments?
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