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Posts posted by Edanmount

  1. You can use Zoopla to quickly find out about the price of flats.

    While £190k sems a lot (they were about £120-140k when they came out as I recall) - that seems to be how the market is moving these days.

    I know of someone who is paying around £1000 a month for a flat there - although that probably includes the exorbinate factoring charges.

    People I know are buying - no sense that price is any concern, except to get enough of a deposit/mortgage to pay the going rate.

    If you have a look at other places, you can find 2-bed flats in nice places for £50k+ less.

    I don't like Bannermill and wouldn't want to live there myself - but horses for courses.

    I would also fear that if employment in the industry drops - or seond steppers move, that it might be hard to sell your identi-kit Milne Mansion when another 20 are on the market.

    Currently, only 2-3 are on ASPC.

  2. I've been looking for somewhere to buy recently and I've noticed a large number of pricing anomalies.

    For gardens in particular, a house/flat with one will be on the market for £50k more than one without. And this is in Scotland - somewhere where £150k will buy you a very nice house.

    And the gardens are not big gardens - some of them barely have enough space for a bouncing cage style trampoline.

    One flat we looked at has been on the market for 3 years and the owner said that the last person to arrange a viewing ( a few months back) didn't come round and when the owner called - they said that they "it didn't have a garden."

    My view is that outside space would be nice - but this is Scotland and you won't use it that much at all - maybe to look at when doing the dishes.

    Added on to that is the cost of buying gardening tools (lawnmower etc...) and the time you spend working there.

    I would have thought that not having a garden would be some kind of bonus - saving you time and money?

  3. Anyone who enters a deferred-purchase agreement believing that it's a "loan" is going to find out over the next few years that they have mis-modelled their finances, and the deferred portion of the house is just as costly as when they couldn't afford it in the first place.

    Beware of journos who call this scheme a "loan" scheme. They are unfit to write on personal finance.

    Warmest regards,

    Great Post.

  4. I enquired about 2 beds on a new development on my road just to see the prices ..£178k for a 2 bed house and all very reserved on the first open evening.I think it is helping but the actually price they are paying is madness.

    I do think people are thinking they are getting 20% off the price so are getting a good deal...I suspect a high % have no plan in place to ever pay back the gov loan amount.

    I've seen similar things where I live - new builds at really high prices.

    Considering local wages - they are very very high.

    Prices per m2 are between £1600-2300/m2 - with 2-bed 65m2 houses costing £140,000.

    But with the 20% discount - they are a cheap £112k! :o

  5. Oddly enough I've been looking into our house's EPC because apparently you have to be D or better to get a full feed in tariff now for PV.

    It will be virtually impossible to get ours to a D. It's a hundred year old stone built cottage, no cavity, fully double glazed including doors, low energy light bulbs everywhere. A single open fire to heat the place (we burn local fallen wood in it). No gas. Our annual energy bill will be under £400 because all of our appliances are low energy.

    We barely get off the G mark according to the official assessment. That's utterly barking. The projected savings I could make from some changes are several times more than my entire energy bill :D

    Do you think that a poor EPC would affect the value of a property - buyer's perception?

    I think that low EPC homes will probably not sell when buyers make a quick glance through websites - a bit like "kerb appeal."

    However, I suspect that newer houses which have better EPC's will actually cost more than they claim and older houses will costs less.

  6. It is falling whatever it is they call it. People can't afford to borrow, if everything is so expensive now.

    I might have got this a bit too simple in my mind.

    Mortgage lending at less than half of pre-2007 levels = more repayment than new loans = decrease in net lending.

    Demographics point towards a natural decline in lending levels - unless you MEW for a new car/boat/kitchen/holiday/BTL. :D

  7. Whilst I agree with what you say to a point - the EPC doesn't take into consideration actual U values for the walls, floors, roof and windows of the houses it measures.

    At no point on an EPC have I read something along the lines of "warped windows are causing drafts - consider resealing to save energy."

    Fixing easy leaks like that will save more money than upgrading from single to double-glazed- but which will feature on the EPC?

    When I said actual U-values - I meanr that they assume that the walls have a U-value of 1 or whatever - but don't actually test.

    In my experience, the worst property to heat was one without any neighbour living below (flat empty) so I couldn't benefit from his heat losses. :)

  8. Points to note:

    • I assume your coal isn't free?

    • Loft insulation is now advised to be over 9" thick. If you have floor boards down chances are it's only 4-6 inches, plus it's compressed making it less efficient.

    • He wont know everything about every front door. If it's a new PVC door he should have assumed it was insulated.

    • The boiler - just because it's been serviced it doesn't mean it's efficient.

    • LEDs - they have to assume you will leave the LED bulbs in... it's not they are going to wear out.... in your lifetime.

    • It's their job to advise of possible improvements, if they are honest they'll advise of ROI timescales, but remember energy prices can go up as well as up.

    EPC is largely about measuring the surface area of the walls, windows and loft and applying a weighting to each based on the type of windows and insulation fitted. A formula is then used to calculate the overall EPC rating, including adjustments for heating and lighting.

    It's very scientific, and follows strict rules. Usually the man will have to measure everything... doors, walls, windows etc. The have to draw out a plan of the house "folded out" showing all the walls. The exception will be if you are on an estate where all the houses are made from the same plans... then he may already have all the plans fro a previous job and just needs to apply the weightings.

    My brother-in-law does it.

    Whilst I agree with what you say to a point - the EPC doesn't take into consideration actual U values for the walls, floors, roof and windows of the houses it measures.

    At no point on an EPC have I read something along the lines of "warped windows are causing drafts - consider resealing to save energy."

    Fixing easy leaks like that will save more money than upgrading from single to double-glazed- but which will feature on the EPC?

  9. I'm a real believer that house prices are over-priced - and what I'm seeing at the moment is that older properties are sitting on the market for months or years.

    Sometimes the prices are truly delusional.

    Anyway - what I've noticed is that the older houses have terrible EPC ratings - Ds, Es and Fs (maybe Gs too) and newer properties have higher ratings.

    This is in Angus, Scotland where sandstone buildings are common (no cavity to insulate) often with dormer windows (harder to insulate the loft).

    Anyway - I've been trying to work out whether the EPC ratings are truly accurate or not.

    Some of the kWh ratings are just nonsense - 3-bed flat, 100 m2 would cost over £2500 a year to heat.

    I've seen new builds - detached or semi-detached that are larger with estimated costs of £500 per year.

    It just doesn't seem to make sense to me.

    So, maybe the collect wisdom of HPC can help out - there doesn't appear to much online about how accurate the EPC is.

  10. As with most things there is a regional component. The market is active in Aberdeen, with numerous properties going for about 15% above valuation.

    I live in Angus and work in Aberdeen.

    Lots of Aberdeen colleagues have bought recently - sort of 28-35 age group.

    They seem to me to be paying 6x earnings for their places and have been bidding above Valuation or have lost out despite bidding above.

    Mentality is one that house prices always go up and it is cheaper than renting.

    Personally, I don't see how prices can go up any further and all the houses being built around Aberdeen could bring a glut of houses onto the market.

  11. The post rate of this forum tends to indicate that most of you are as bored as I am watching this slow motion car crash develop.

    Something has got to give. Must be many thousands out there who are hanging on for dear life.

    I might suggest that houses are not really selling at the moment.

    I live in Angus and nothing is moving.

    Some houses on the market for years!

    New builds go appear popular- but these seem to be selling a premium/m2 to older homes - higher £/m2 than even big old money homes.

    If you are looking to buy - and can find someone who actually wants to sell - you'll get the place for a post-HPC price if you like.

    Asking prices and o/o prices are in fairytale land.

  12. My parents are both teachers and a lot of their friends are/were teachers. They started teaching in Northern Ireland around 1960's - 1970's.

    I always respected the fact that they were educated, intelligent, open-minded, respectable types.

    Salaries were good for NI and with that you could buy a nice house and know that you job was secure.

    Nowadays - everything seems worse.

    Hiring these teaching assistants is a bizarre way of changing the education system and given the large numbers; the economy too.

    I don't think that the numbers of "special needs children is genuine and it makes a mockery of the real special nees case.

    Also, £17k is a low (but at least you won't have to repay your student loan).

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