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Monkey_Boy

Going To View Houses (renting) This Afternon...

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OK, we are looking to move into larger rented accomodation, going to look at a few places this afternoon. One of which I have the following information about;

2 bed bungalow. £750pcm

Nethouseprices shows bought in Feb 2005 for £190K

Yield looks poor to me...

Assuming 30% deposit down when purchased leaves 133K mortgage.

Repayments over 25 years at 4% would be £800 a month

Interest only would be £500 a month.

Then you have to consider the £50 a month (minimum, this is Surrey) letting agent fee.

So about the only option which would make me feel happier renting from the landlord would be if a larger deposit than 30% paid (don't think I can find that out easily).

Unfortunately we are dealing with a letting agent so possible questions will be limited. My first one is who is the landlord and how long have they been a landlord for. If we like the place is it worth doing a credit check on the landlord? Perhaps I should ask to meet the landlord?

Any suggestions greatly received.

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OK, we are looking to move into larger rented accomodation, going to look at a few places this afternoon. One of which I have the following information about;

2 bed bungalow. £750pcm

Nethouseprices shows bought in Feb 2005 for £190K

Yield looks poor to me...

Assuming 30% deposit down when purchased leaves 133K mortgage.

Repayments over 25 years at 4% would be £800 a month

Interest only would be £500 a month.

Then you have to consider the £50 a month (minimum, this is Surrey) letting agent fee.

So about the only option which would make me feel happier renting from the landlord would be if a larger deposit than 30% paid (don't think I can find that out easily).

Unfortunately we are dealing with a letting agent so possible questions will be limited. My first one is who is the landlord and how long have they been a landlord for. If we like the place is it worth doing a credit check on the landlord? Perhaps I should ask to meet the landlord?

Any suggestions greatly received.

assuming 100% interest only at 5%, the morgage is costing them £791 per mounth

offer no more 650->700 ;p

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I have no idea why anyone still lives in the SE. £750 pcm for a two bedroom bungalow! You must be f*cking loaded or stupid or both.

Maybe there is some fantastic special secret thing down there that you're hiding from the rest of us, I hope for your sake there is. Madness.

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Maybe there is some fantastic special secret thing down there

Jobs?

Sorry, to answer the question, I wouldn't bother with somewhere that had been bought at such a high price. I'd look for a place that was bought 4 or more years ago as there's less chance of being asked to leave after a short amount of time.

Edited by spleeper

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I'd look for a place that was bought 4 or more years ago as there's less chance of being asked to leave after a short amount of time.

Same here. When I moved a few months ago I checked everywhere I looked at on nethouseprices.com to make sure they hadn't bought at the top of the bubble... not worth the risk of being turfed out because the landlord went broke.

And I certainly wouldn't touch any of the places around here which have both 'To Let' and 'For Sale' signs outside.

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Well that was a complete waste of time. Current tennants, 1 lady smoker 2 cats and a dog... no thankyou.

The 18 year old letting agent was useless, hadn't even shaved properly and was driving a car with a number plate along the lines of M3 LET (not the actual plate but you get the idea). Don't think it was his own, probably the bosses.

We were supposed to be seeing another place afterwards, but he hadn't brought the details with him, let alone the keys. He seemed to know the tenant quite well, her dogs name etc... strangely he was there when we arrived, and stayed on when we left.

Unfortunately half the places in the village are with the same agent, I think I might pre-empt his promised phonecall and try and speak to someone older tomorrow.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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