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Really the HUTH presenter - new bint haven't watched it for ages - just said that emphasising each word like she was indoctrinating the viewers.

Buyer chinese ethnicity who also works as a proerty scout for far east investors who "like the UK due to yield".

Clear there is no mortgage finance so georgies btl fix will no effect.

He's adding an extra yield to maximize yield to 10%. Think it was Rotherham.

My first thought was people farmers.

Waiting for the finished visit. On now.

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OK Rochdale not Rotherham ....

plan is 3 bed HMO with no living space for students or young professionals.

small bathroom is "clean shower room"
[shared between three]

appears to be no living space except small kitchen.

looking for students because students don't pay CT and moneywise better than prof. because their loans provide the finance.

EA: closest uni is 10miles. There are higher education colleges.

70-90 per bedroom and "super shrewd Vincent" gets a "whopping yield of 14%"
[quotes from the beebbint]

Interesting is that house would sell for 75ish empty but if student tenants are in on a 1 year contract valuation goes up 10k ["canny Vincent" - beebbint - sells to other ahem less canny? - "investors".

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University students won't travel 10 miles to their accommodation unless they're living at home for free with parents.  I managed the university on campus and off campus accommodation for a large London uni for nearly 10 years and for most students the first question was cost and the second distance to the uni.  As with many HMOs it will no doubt end up being filled with immigrant workers.  I ran a headleasing scheme for student houses near to the uni (couldn't accommodate all in our halls) where we basically leased HMOs from owners and then leased them on to the students so the students only had to deal with the uni for repairs/rent. 

The houses I went to look at to see if we wanted to take them on, were mainly 3 bed 30s semis, converted and partitioned to make 5 beds. The houses were almost always rented out to immigrant labourers/bricklayers/builders etc.  The landlords were interested in getting on our books as it was guaranteed rent by the uni.  Houses were often in appalling state.  HMOs are technically regulated by local authorities but our local council had one member of staff for this for the whole London borough.  And that was also supposed to cover the problem of beds in sheds, which was rampant (seen at first hand by me).  Hopelessly inadequate.  

Sorry for the rant!  It's a topic I feel strongly about.  Hope the Chinese investor here loses his/her shirt. 

 

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  • 417 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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