bomberbrown Posted April 30, 2013 Share Posted April 30, 2013 http://www.rightmove.co.uk/property-for-sale/property-38355538.html?showcase=true The BTL as a pension thread inspired me to take a look at property in my home town of Coventry. I'm seriously planning on using my cash deposit that I was planning on using for a London flat to buy a flat somewhere else outright. I thought this was quite cheap....... untill I read the small print blurb. £300 a MONTH service charge! Is that the most expensive service charge in the UK? Quote Link to comment Share on other sites More sharing options...
sukuinage Posted April 30, 2013 Share Posted April 30, 2013 The catch is that it is shared ownership i.e. 130k. Not cheap! Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted April 30, 2013 Author Share Posted April 30, 2013 For just £125 a month more than the service charge alone, you can rent a whole 2 bedroomed HOUSE! http://www.rightmove.co.uk/property-to-rent/property-41320247.html Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted April 30, 2013 Author Share Posted April 30, 2013 1367302206[/url]' post='909314450']The catch is that it is shared ownership i.e. 130k. Not cheap! Jesus wept! I missed that. Vendors have to stop listing these places with already discounted and misleading prices. Quote Link to comment Share on other sites More sharing options...
SirGaz Posted April 30, 2013 Share Posted April 30, 2013 I notice that the new builds on the old GEC Marconi site are now being advertised with the new buy 20% already off the price, I bet that catches a few out. Quote Link to comment Share on other sites More sharing options...
Stop The Ride Posted April 30, 2013 Share Posted April 30, 2013 (edited) The other catch is that it's a 2 bed flat in the centre of Coventry. The good news is that it's only five times median UK salary. Edited April 30, 2013 by Stop The Ride Quote Link to comment Share on other sites More sharing options...
SirGaz Posted April 30, 2013 Share Posted April 30, 2013 Try this one, it seems 7% profit is guaranteed by the developer! 3 bed eco house Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted April 30, 2013 Share Posted April 30, 2013 Try this one, it seems 7% profit is guaranteed by the developer! 3 bed eco house Did the architects try and disguise it as an overturned fridge? Quote Link to comment Share on other sites More sharing options...
Parkwell Posted April 30, 2013 Share Posted April 30, 2013 Takes the piss doesn't it. In a stable market it might make sense to buy a cheap flat outright and be rent free to save for the next step in the ladder. But in our genius world you buy something outright only to find you're still renting it! Also in my area I found that flats are falling in price more than anything else. Quote Link to comment Share on other sites More sharing options...
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