Jump to content
House Price Crash Forum

Elad

New Members
  • Content Count

    65
  • Joined

  • Last visited

About Elad

  • Rank
    HPC Poster
  1. Flipping tastic in the $rse end of Merrow, 125 grand in 3 months... http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=35083485&sale=53659592&country=England strange that there were no estate agent details for the Apr sale.... backhander anyone?
  2. Good spots from both you guys, I think we can all hope for eternity that the MSM will be able to perform, and report on, analysis that stands up to detailed review, but it just wont ever happen. However, the fact that there is a turn in the tone of these churned press releases is a positive...
  3. One interesting thing with this wide reporting of the Rightmove index is that they actally highlight the 'asking' part of it, which before has been buried in the text more, maybe the MSM are becoming more wary of this index? Now they just need to highlight 'initial asking price' and that would be spiffing.
  4. Interesting anecdote, today I was walking in Westminster station, loads and loads of adverts up saying things like "if you wanted to buy a house the same size as the ticket hall in central London it would be £21m" and "£6,177 would only buy you enough space for the escalator step in Central London" - trying to get into the minds of the politicians...doubt it will work http://www.citymetric.com/horizons/escalator-step-central-london-would-cost-you-6111-and-other-brutal-facts-about-britains
  5. It is in that area. It is the stop gap between a flat and a house, flats you have someone else's door, the maisonettes you have your own, but it is still a flat. Don't have to worry about communal areas, the leaseholds are easier and it feels more 'yours'. Also they are purpose built like that so better than conversions I've just sold our flat and renting in a 'own-door' maisonette, and it does make a difference. Still 895 is MENTAL for those, they are going for 660 in Streatham Hill (still barmy) - would not buy one myself but there seems to be a number of people willing to do it. Still 895 for those is barmy!
  6. Depends whereabouts in Streatham, I have lived in Streatham Hill for 4 years and the transport is pretty good, 8 bus lines from the top of the road that go directly to Brixton Tube. Brixton is the first stop so I always got a seat, total journey time to work (Green Park) was 30 mins. But agree that most other parts of Streatham are pretty rubbish for transport.
  7. Bit worthless to have a double garage that has two doors so small you can't get a car in either of them....
  8. This is pretty much the situation of the person that bought my flat which completed two weeks ago. Single girl trainee on 37K somehow gets a mortgage for 190K - BOMAD stumps up 350K. She gets in a lodger to help with mortgage payments. I'm guessing that she was an only child... After qualifying (1 or 2 years) she will probably be on 60k. I'm not posting this to prove any point, just an single case illustration.
  9. A lot of negativity about this on here - don't normally see that on here You are doing the right research, buying a leasehold without the right research can be problematic, but there is no reason to preclude it if your research ticks the right boxes. There are a lot of people living quite happily owning leasehold properties - I have for 14 years. Above a shop could be problematic, but for the other problems of mortgaging and change of use issues others have highlighted. The freeholder management company would require the same due diligence and questions. It might even be easier as there would not be as many flats to contend with. If you are looking for a cheaper place to live then above shops tend to give you more for your money because a majority are put off, but makes them difficult to sell.
  10. I don't think it is the legal fees that are the costly part, you have to buy the freehold at value to the freeholder - it is a documented formula and there is an ombudsman to resolve differences, but it is a multiple of the ground rent and number of years left plus something else.
  11. I have had three leasehold properties: 1) was leasehold but as a collective (4) flats we purchased the freehold and managed from there. 2) was leasehold 3) was always share of freehold. In London it is pretty much the norm, but I would investigate the management company and see what their accounts are like and how much interaction they have with the owners of the flats. Most management companies are run as a business - so will try and maximise their money in, etc. The leaseholders have a fair number of rights to view the accounts and vote on what the company can do, assuming that the MCo communicate, some don't! The number of flats and the percentage that are rented out would be a consideration. I more people that are prepared to be involved in Management issues the better. Purchasing the freehold is a good thing, but can be costly, the length of lease and ground rent of each individual flat makes up the calculation total. A new management company has to be set up and each flat has to be a director of that company and one person nominated as the Secretary. Shares have to be issued and transferred if any flat is sold and the change in directors has to be registered at companies house, along with annual accounts. Not a massive hassle, an accountant can take care of it for a few hundred a year. But you can extend your lease at any time for minimal cost (we extended ours in 3) to 999 years and it cost 500 quid) and normally would make a place more sellable in the future if you so desired.
  12. Whoops, seen it has gone SSTC, someone has paid something for it...
  13. Yep - wrong side of the A3, and looks like a lot of damp there, lots of moss on the front....not sure who will go for that @ 400K
  14. This is now at 950K, still overpriced, but nice to see a 300K drop from the kite-flying.
  15. What do you think are the advantages of Farnham (genuinely interested) ? Do you need to worry about schools?
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.