rorypops

Any opinions on this email? This email advises that our apartments will not be complete until the second quarter of 2010. The contract provided that completion should be within 18 months after the licence had been granted with an additional 6 months for force majeure. If I remember correctly the licence was granted in September 2007 which means the proposed completion will be six months' late and the only reason that the developers have given is the current economic climate. Are any delays over the said 18 months a breach of contract?? The developers also advise that they are having to seek changes to some of the clubhouses and are having to re-apply for planning permission. They seem to be doing this without any consultation with purchasers. Can they do this? They are making these changes because of the contracts that they have signed with the management companies, not because of planning regulations. Personally I would not be very keen if they installed say a disco in the clubhouse - I would not have bought into this development had that been the case. What are these changes?? How will they impact on what we first bought into?? Cheers guys!

I presume still no word Popcorn?? "silence aids confusion and arouses suspicion".................Unknown author

Hi Popcorn, Any news from Sean yet within their promised 24 hours?

Hi all. I am concerned that there has been no update from Property Logic (apart from the latest news letter which totally avoided any detailed updates on the building progress). My friends who are buying on RT2 are due to complete this month have heard nothing. Reliable sources advised me that building work ceased before Christmas on PL sites as they were unhappy with the builders. I am buying on RT7 - from a personal point of view, delays do not concern me.........but c'mon on Property Logic.......answer your emails from Popcorn (LJDF owners group) and keep us in the picture!

adam123, I will contact Popcorn and ask her to post on here.

I used BCP in Spain. They have been pretty efficient so far. Are you registered with the owners group? If not, contact Popcorn - you are definately not alone - no-one could have predicted that exchange rates would have taken such a hit.

Lausanne (CH) A new Tulip Inn will be opened on December 1st near Ikea Concept Center in Delft; the interior will be exclusively furnished by Ikea. http://www.hospitalitynet.org/news/1540003...anne+ikea+tulip Good to see their chain of hotels are expanding. (....but here's hoping they haven't struck a deal with Property Logic and we end up with vases costing all of 39p!!)

Hi euroscooby, Yes, I do. I haven't contributed to the Morocco discussions of late. What is your thought on Golden Tulip being the management company? Thanks

News out today that the Golden Tulip Group is going to be the management company for RT7. First impressions are very disappointing - my student brother often stays in the one in Amsterdam for 20 quid per night! Not what I would have expected for a 5 star resort!!!

Hi, I hold HBOS shares and am considering buying some to try and liquidize the ones I already hold. Any thoughts?

Hi all, Thanks again for replying and letting me know your different opinions. I admit, I am out of my depth, but am slowly trying to make sense of the situation, and am trying to make the best possible long term decision I can. With regards to Si1's post, yes the decision to buy my mum a flat was an emotional one. She was struggling in a 3 bedroom house with stairs, and couldn't yet sell it because it was still under the council's 4 year clause under the right to buy. This clause finishes in July of this year, and it's then we are free to do what we wish. As I said in a previous post, the over 55's flats don't come up very often (only 12 in total in the city we live), so I just raised the capital on my own mortgage and bought. From an investment point of view, it would have been better to wait until the Council clause had lapsed, because her old house is lying empty - yes, I know, not a prudent investment decision but my mum is happy and settled and I was willing to take the hit on my mortgage over the 4 months of no income to help her. cartimandua51 asked the question as to our own situation - we are both working, and in secure jobs. My husband has a trade behind him so is never (should never say never I supose, might tempt fate!) stuck for work. We only have a very small mortgage on our own house, so were in the fortunate enough position to be able to borrow the £87k. The flat was purchased in my mum's sole name, with a minute of agreement drawn up by the solicitor for the £87k, should any eventualities occur before the sale of her existing house. If I do go ahead and purchase it, it will be done through the solicitor as a proper sale, and this will erradicate any confusion as to a transfer. Anyway, I did a few calculations today, here are my thoughts (remember I admit, I'm a complete novice at this so please bear with me) Mortgage of £90k, interest only at 6.5% = £5,850 interest per annum Landlords insurance (guestimate, £30 per month??) = £360 per annum One months loss of rent = £550 per annum Maintenance (£50 per month??) + £600 per annum Letting fees = NIL (We live in the same town so would just rent it ourselves) TOTAL EXPENDITURE = £6,640 Rental Income based on achieving £550 per month = £6,600 = LOSS of £40. I had a couple of estate agents round today who all basically said the same thing - people are beginning to panic sell and the market is slowing down because of this. They haven't seen any sign of prices dropping, however its a buyers market and things aren't moving so fast as buyers now have a choice. It might not sell quickly, but will sell at some point, as it's an afordable family home. I spoke to a couple of letting agents (as a potential renter, was worried might get biased view) who advised there are not a lot of properties for rent. The estate agents said if I can afford to hold off and ride the storm and rent it, then do so. They have no invested interest ie letting agents etc, by the way. One thing in the house's favour is it's 2 minutes walk from a new shopping centre, sports complex and health centre being built. There is also a large Barratt development going up (cheapest one is £180k) so it's not in competition with them. Am I just being stupid considering renting?? I would just be relying on capital growth I think?? Apologies for my ignorance on this - everyone has to start somewhere with their learning I supose!!! Thanks guys!

Thank you all so much for taking the time to reply. Forum's like these are an invaluable source of information! Redwing, I take your point. I'm probably looking at spending £6k upfront (this would include replacing the bathrooms and gas central heating etc) so with an expected rental income of £550, it would take me a years rental income just to recoupe that monies. It really am unsure as to what to do for the best?? I borrowed £87k to purchase my mum's over 55's flat, and in return, she is giving me her house which is mortgage free. It's a long story but basically these flat's don't come up for sale very often, so I raised the capital on my existing house. Should I sell and reduce my own mortgage or take the gamble?? If my mum sells however, she won't incurr capital gains as this has been her main residence for 25+ years. Thanks again guys, I really appreciate your opinions!

Thank you all for your replies. You are quite correct, I am absolutely new to the renting business, and hence I appreciate everyones different opinions. My mum bought the house 4 years ago for £35k (she had been a tennant for 20+ years and received the maximum discount from the Council). It's now valued at £110k approx, and it's mortgage free. I'm looking upon this as a very long term project. Houseprices in this area (North East Scotland) have levelled out recently, but there has been no sign of a drop.....yet. Would the opinion still be more towards sell if I intend to hold onto it for the long haul?? Thank you. Ps we've done a couple of renovations (ex local authority) so we are no strangers to costings/budgeting. A two bed ex local authority (which we bought to live in while we built a self build) cost us £9k in total for central heating, new kitchen, bathroom, downstairs toilet, added 3rd bedroom (with necessary planning consents etc), new internal/external doors and new skirting boards etc. Ok, it wasn't the Ritz, but it was done to a high standard and was 100 times better than we bought it! I'm not totally useless!!

Hi. I'm away to dip my toes into being a Landlady for the first time and am looking for some advice. I am in the process of preparing a 3 bed ex-council house for rent and am pretty naive to the whole business. I could probably find the answers to my questions somewhere on this forum, but was just wondering if someone would be so kind as to reply to my questions. The house currently has a very basic kitchen in it, replaced by the council before my mum purchased it 4 years ago. Would this be suitable or would it have better 'rentability' with an updated one?? The house has electric Total Heating with Total Control (storage/panel heaters), which were fitted approx 8-10 years ago. Would it be better to replace it with gas central heating at a cost of around £4k including labour and parts?? (my husband would be able to do alot of the work himself as he is in the trade) Am I better to use a letting agency or rent it out myself?? I believe it will be a family who will rent - it will not attract professionals/single people due to its location and size. Is there anything esle I can do to increase its rentability?? I intend to replace all the floor coverings and re-decorate. Should I rent it unfirnished or part furnished? Apologies for all the questions - I admit I am completely naive to this. This is just an opportunity which has arrisen due to my mum going into semi-sheltered accomodation and this is to assist her with her fees. Thank you for your help.

Hey guys, I googled this site especially for you all! That will save you wittling the time away on a subject which you obviously have no invested interest in??? Never fails to amaze me! Hope it helps. http://www.urban75.org/useless/bored.html