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RentaBear

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About RentaBear

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  1. RentaBear

    flat with shower in the kitchen

    How does that even meet buildings regs with mains sockets within mm of the shower cubicle? I suppose that's to let you take your hairdryer or toaster in with you once you realize what a mistake you've made buying/renting it...
  2. RentaBear

    Most Overpriced Nice house - East Anglia

    I'd like to propose this kite-flyer in Newmarket: http://www.rightmove.co.uk/property-for-sale/property-45478668.html
  3. RentaBear

    Cambridge

    I suspect in a few years, you might end up being glad you didn't manage to buy a pokey flat behind Screwfix for half a million... But I still can't work out where the money is coming from for things like this : http://www.rightmove.co.uk/property-for-sale/property-58957499.html - 50K deposit from BOMAD and then 4.5x 88K combined salary from a couple with no plans for kids anytime soon? Is that really a big market?
  4. RentaBear

    Nirp Warning, Nirp Warning

    Bring it on - add in self certification and I/O loans and I'll have £100M @ -1% APR fixed for 30 years please - why work when you can be paid to borrow?
  5. That is often the case, but certainly not always. Given the price of bricks blocks and timber these days, I do wonder how you could replace something like this : http://www.rightmove.co.uk/property-for-sale/property-43419843.html - a 3-bed semi for £45k - without spending a load more. And speed of construction also matters IMHO - if you are building with borrowed money, as most self-builders and speculative-builders are, halving the build time is a serious cost saving.
  6. Hmm, weren't the Tories supposed to be the free-market-loving party? Surely the free-market solution for NIMBYs is just to buy all the land between you and the horizon to prevent any development on it? Why isn't the 'compensation' to the rest of the village for taking on 100 extra houses, some infrastructure like a local shop and a primary school which would only become viable if the houses were built and younger families moved in? IMHO the fracking issue is rather different - they are stealing the oil from under your garden, and then offering you a bit of the profit to shut you up. As the state has decided it owns the petrochemicals in your gardens, they don't actually need to give you anything.
  7. RentaBear

    Negative Interest Mortgage Watch

    IIRC MMR stress tests only apply to < 5 year fixed - if a bank is stupid enough to offer you -ve rates to borrow, a long fixed rate is what you'd want! And as for incomes being the ultimate limit on borrowing - there's already a tried and tested fix for that - LIAR LOANs. We had one such scheme pop up this year via a European bank with a UK web-site, I'd imagine we'll see a BoE approved 'it's really nothing like self-certification, this time it's different' liar-loan scheme along soon.
  8. Just change the listing to 'Cambridge North' rather than Ely - 'a mere 12mins train ride from the city center' and double the price - that trick worked round London, and Cambridge is even more of a world class city apparently...
  9. RentaBear

    Cambridge

    Meh - if the house you want at the price you can afford isn't available, just build your own! All you need is a plot of land : http://www.rightmove.co.uk/commercial-property-for-sale/property-41222700.html 0.22 acres, £2,7000,000 I make that 890m^2 so £12,250 / m^2 for just the land. Say you build 4 stories of flats that entirely fill that plot - that's still £3,000/m^2 before you've paid for any building materials or labour - I guess we'll see some more £6k/m^2 shoe boxes appearing there soon.
  10. RentaBear

    Cambridge

    Meh - go to school, work hard, get a job and you too can afford a home like this: http://www.rightmove.co.uk/new-homes-for-sale/property-57994544.html?premiumA=true With enough change from £2M to put that 4x4 from the photos on the driveway. Or, not a million miles away, if you want a bit more room and a bit less traffic for your £2M, http://www.rightmove.co.uk/property-for-sale/property-52992899.html?premiumA=true
  11. RentaBear

    Cambridge

    http://www.rightmove.co.uk/property-for-sale/property-53211514.html?premiumA=true Found this on a quick search - seems to be about 82.5m^2 so at £385K, that's £4,666/m^2 for what looks like a small ex-LA house in what appears to be a reasonable area of Cambridge. A few miles up the road in less fashionable Newmarket, you could have 114m^2 for £335K - so £2900/m^2 : http://www.rightmove.co.uk/property-for-sale/property-53212921.html?premiumA=true Or if you need a commute into London, an Ely newbuild at 81m^2 / 295K or £3600/m^2 http://www.rightmove.co.uk/property-for-sale/property-37509519.html Whether you consider any of those reasonable or not is up to you, but a little man maths might help: The houses i linked 3-bed semis/detached, so are probably not FTB homes. Let's suppose you have a 25% deposit and a bank willing to lend you 4.5x household income... Cambridge place, 385K, £288K borrowed, household income of 64K required. Newmarket place, 335K, £251K borrowed, household income of 56K required. Ely place, 295K, £221K borrowed, household income of 49K required. According to the gov's stats: http://www.neighbourhood.statistics.gov.uk/HTMLDocs/dvc126/index.htmlmean weekly earnings for Cambridge for a full-time man and woman would be £1189 or 61.8K a year, Newmarket £ 820 or 42.6K a year, Ely £ 974 or 50.6k a year
  12. RentaBear

    Bungalow In Norfolk For £239 Million

    I didn't have PropertyBee running last night - it would seem it has come down from £257K in mid Jan. At 71m^2 it's still £3300 odd / m^2 - seems rather dear to me.
  13. RentaBear

    Cambridge

    Perhaps I should keep linking to overpriced stuff in Cambridge - they've taken £25k off already I'm not sure what's good value in Cambridge - personally I don't think it's a patch on Edinburgh (Cambridge is too much Uni and not enough city IMO) and it's not even all that close to that there London. I definitely don't think it's worth London prices - seems you could get 70m^2 in Zone2/Zone 3 for that sort of money (Finchley Rd). Even 4k/m^2 would make the place I linked £240K - which would be 4x a 60k joint salary - which seems rather high to me.
  14. RentaBear

    Bungalow In Norfolk For £239 Million

    It's under £1,158,000 a month for the mortgage though - ideal for an aspiring first time buyer!
  15. RentaBear

    Cambridge

    http://www.rightmove.co.uk/property-for-sale/property-53055331.html?premiumA=true 60m^2 and £475K - £7,900 per square metre!
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