Bruce Banner Posted August 11, 2010 Share Posted August 11, 2010 It just occurred to me that I haven't heard of many people buying flats "off plan" for some time. I wonder if there are still many people committed to finding the money to complete on some folly that they signed up for a few years ago. Quote Link to comment Share on other sites More sharing options...
Concrete Jungle Posted August 11, 2010 Share Posted August 11, 2010 It just occurred to me that I haven't heard of many people buying flats "off plan" for some time. I wonder if there are still many people committed to finding the money to complete on some folly that they signed up for a few years ago. The last person I know who did that lost their £18k 'deposit' when it transpired no lender would stump up more than £90k towards the asking price of £180k. You can't go wrong with bricks and mortar newbuild flats in Northern towns. Quote Link to comment Share on other sites More sharing options...
ScrewsNutsandBolts Posted August 11, 2010 Share Posted August 11, 2010 The classic in my neck of the woods is the Cube development in Birmingham city centre. This was discussed a little recently here: http://www.housepricecrash.co.uk/forum/index.php?showtopic=142329&st=30 The building is just starting to be occupied now. Those who committed to buy-off-plan seem to be squealing like pigs and trying to get out of there commitments. It is a real classic case, with the majority of the off-plan purchases made right in the middle of the greed phase of the bubble. Quote Link to comment Share on other sites More sharing options...
Pope Benedict XVI Posted August 11, 2010 Share Posted August 11, 2010 Buying off plan in a luxury development in a good location is usually a solid investment. You have to make sure the location is good though and not some high rise in Manchester. Quote Link to comment Share on other sites More sharing options...
ScrewsNutsandBolts Posted August 11, 2010 Share Posted August 11, 2010 Buying off plan in a luxury development in a good location is usually a solid investment. You have to make sure the location is good though and not some high rise in Manchester. Could you give an example ? Quote Link to comment Share on other sites More sharing options...
Concrete Jungle Posted August 11, 2010 Share Posted August 11, 2010 Could you give an example ? Obvoiusly not or there would be a stampede of canny investors rushing to the location to snap up bargains. Quote Link to comment Share on other sites More sharing options...
ScrewsNutsandBolts Posted August 11, 2010 Share Posted August 11, 2010 Obvoiusly not or there would be a stampede of canny investors rushing to the location to snap up bargains. You git... I was trying to get the inside track. and you might have put him off. I already had the car idling in the drive and my chequebook in hand Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted August 11, 2010 Author Share Posted August 11, 2010 Could you give an example ? Land's at a premium in The Vatican . Quote Link to comment Share on other sites More sharing options...
ScrewsNutsandBolts Posted August 11, 2010 Share Posted August 11, 2010 There's loads of grief in Northern Ireland as the courts force off plan buyers to complete their contracts. As unpleasant as it may be it is fair. This is especially true for all "investors" who bought off plan to let out. Investments go up and down, and to try and squirm out of your obligations is just wrong. I have a little sympathy for people who bought off-plan for a home to live in, and now find it hard to get the mortgage for the original purchase price against current valuations. But only a little... Quote Link to comment Share on other sites More sharing options...
Kyoto Posted August 11, 2010 Share Posted August 11, 2010 I wondered about this. Not so much off plan, but are there still developments coming onto the market that were conceived and started due to the bubble? Or has most have that worked it's way out of the system now? Most of the big developments in Leeds were mothballed right after things went south. If they had been a further few months along they might have had no choice but to continue. Quote Link to comment Share on other sites More sharing options...
Si1 Posted August 11, 2010 Share Posted August 11, 2010 Buying off plan in a luxury development in a good location is usually a solid investment. You have to make sure the location is good though and not some high rise in Manchester. get stuffed you VI ramping n*b do you realise the lives that have been blighted by your ramping nonsense - the culpable but daft who should never have gone near such exotic leverage? the sensible who have been locked out of the simple fact of property ownership and had to face the ire of society - indeuced into this by your own silly financial delusion? you make me sick - the government should have regulated this years and years ago - but oh no bulls say 'you can't go wrong' well, now peoples' financial lives are ruined. these people are 30-odd years old, they will be bringing kids up in sh*tty little developments blighted by onbscene mortgage debts because people like YOU said you can't go wrong luxury? you have only the luxury of your own small mind. Quote Link to comment Share on other sites More sharing options...
Si1 Posted August 11, 2010 Share Posted August 11, 2010 I wondered about this. Not so much off plan, but are there still developments coming onto the market that were conceived and started due to the bubble? Or has most have that worked it's way out of the system now? Most of the big developments in Leeds were mothballed right after things went south. If they had been a further few months along they might have had no choice but to continue. it did look like they were mothballed pretty damn quickly - so heavily leveraged. the banks pulled the plug on funding and that was that I still laugh at the insolvency of a property tycoon in Leeds - he was on telly 4 years ago - 'despite this man failing his maths O level and being dyslexic, he is a talented property entrepreneur' - and went bankrupt last year. Unfortunately lots of people appear to have lost deposits to him, on his latest high rise flats to be built in Leeds, and are now down a list of creditors. Apparently he would be immune to a downturn due to great locations and fantastic designs. Quote Link to comment Share on other sites More sharing options...
ScrewsNutsandBolts Posted August 11, 2010 Share Posted August 11, 2010 get stuffed you VI ramping n*b Is it the username that gives it away ? Pope Benedict XVI Quote Link to comment Share on other sites More sharing options...
Si1 Posted August 11, 2010 Share Posted August 11, 2010 Is it the username that gives it away ? Pope Benedict XVI f*ck my bad! Quote Link to comment Share on other sites More sharing options...
Si1 Posted August 11, 2010 Share Posted August 11, 2010 Sometimes you need the confidence of ignorance just to get anything done. he simply leveraged to the max from about 1980 onwards luck and ignorance, a later generation trying the same trick at the same age, at other times he would have been a totaL pauper as a result Quote Link to comment Share on other sites More sharing options...
darwin Posted August 11, 2010 Share Posted August 11, 2010 He is actually a pig farmer from York. http://www.yorkshireeveningpost.co.uk/news/Leeds39-developer39s-empire-in-tatters.5014873.jp Sometimes you need the confidence of ignorance just to get anything done. True, sometimes. Smart has the brains, but stupid has got the balls. Quote Link to comment Share on other sites More sharing options...
Pope Benedict XVI Posted August 11, 2010 Share Posted August 11, 2010 Could you give an example ? No problem http://www.dailymail.co.uk/news/article-1301918/The-140m-flat-World-record-price-Central-London-penthouse.html Quote Link to comment Share on other sites More sharing options...
ScrewsNutsandBolts Posted August 11, 2010 Share Posted August 11, 2010 No problem http://www.dailymail.co.uk/news/article-1301918/The-140m-flat-World-record-price-Central-London-penthouse.html Not off-plan though... and already sold. Any sensible advice on where to put my 140m would be appreciated. Quote Link to comment Share on other sites More sharing options...
JPJPJP Posted August 11, 2010 Share Posted August 11, 2010 (edited) In Sep 01 bought a house that Linfoot had built in York. It was about 10 years old at that stage Pretty reasonable house in a nice enough small development There are two for sale on the same street now for £169,950 and £197,950 See here Edited August 11, 2010 by JPJPJP Quote Link to comment Share on other sites More sharing options...
Si1 Posted August 11, 2010 Share Posted August 11, 2010 In Sep 01 bought a house that Linfoot had built in York. It was about 10 years old at that stage Pretty reasonable house in a nice enough small development There are two for sale on the same street now for £169,950 and £197,950 See here oh well done. you made lots of money on your pwoperdie. still, yields are sh*t. Quote Link to comment Share on other sites More sharing options...
Daft Boy Posted August 11, 2010 Share Posted August 11, 2010 Buying off plan in a luxury development in a good location is usually a solid investment. You have to make sure the location is good though and not some high rise in Manchester. cracked me up that one did Quote Link to comment Share on other sites More sharing options...
200p Posted August 11, 2010 Share Posted August 11, 2010 Whats worse, ramping about a supreme being that may or may not exist or you can't lose with some bricks and mortar? Quote Link to comment Share on other sites More sharing options...
pie-eater Posted August 11, 2010 Share Posted August 11, 2010 In Sep 01 bought a house that Linfoot had built in York. It was about 10 years old at that stage Pretty reasonable house in a nice enough small development There are two for sale on the same street now for £169,950 and £197,950 See here But wasn't Sep 2001 9 years ago? You had 6 years of simple luck, nothing else. Well done on your gamble. Try it now - I dare you. You've been lucky, not clever. Quote Link to comment Share on other sites More sharing options...
i wanna house Posted August 11, 2010 Share Posted August 11, 2010 Could you give an example ? http://www.onehydepark.com/#/construction-gallery Quote Link to comment Share on other sites More sharing options...
Stay Beautiful Posted August 11, 2010 Share Posted August 11, 2010 i worked for Linfoot 1997-98, work Sunday or Bank Holiday and the price was £2 a block, Kerrrrrrrching!! Quote Link to comment Share on other sites More sharing options...
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