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Couple Pay Off Mortgage On The Home They Believed Was Worth £120,000

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then the rest of their street goes up for rate of £1 a house

With their mortgage paid off, Linda and George Hunter should be looking forward to retirement in the family home they moved into 27 years ago. But a botched regeneration has left the grandparents living in a crime-ridden ghetto – with their home’s value dropping to just £1. The Hunters were told eight years ago the street would be demolished but turned down a council offer of about £85,000 for their home as they believed it was worth £120,000.

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Actually they are:

The couple have now agreed to move after the council offered to swap their home for another elsewhere in the city.

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I like to think everyone being greedy will get burnt like this. I suspect all those 'I'm not giving it away' kite-flyers will get burnt in one way or another.

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No way £120k for that area, even when it was fully occupied. Council offered more than it was worth.

New owners for all the houses might make for a better area. Terraced houses (with no front garden) are crap to live in unless there is a strong sense of community.

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