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deano_54321

Property Developer Viewing Neigbours House

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Hi All,

The people living next door to my parents have a viewing tomorrow by a property developer! What does this mean? Why are they so interested? It has only been on the market for about two weeks?

Can anybody point out if this is relevent to HPC??

Thanks!

Dean

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Hi All,

The people living next door to my parents have a viewing tomorrow by a property developer! What does this mean? Why are they so interested? It has only been on the market for about two weeks?

Can anybody point out if this is relevent to HPC??

Thanks!

Dean

They MEWed to the eyeballs? - maybe the "developer" is one of the BMV brigade offering cash for a quick sale, but a big discount

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Either you will have a block of flats for neighbours six months for now or an amateur property developer hammering away day and night in his or her pursuit of money for "nothing".

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Either you will have a block of flats for neighbours six months for now or an amateur property developer hammering away day and night in his or her pursuit of money for "nothing".

Theres no opportunity for them to build flats etc, but the house does need modifying a bit. However, you can already buy an equivelant already modified house in this area for the same price as it is up for sale for, so if thats the case they wont make much - if anything.

I think they are after a quick sale as they are retiring/emigrating and the way they are talking to do so ASAP.

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Developer <_<

My pa has just sold a crapy flat to an “investor” (who had to get a mortgage btw)

For £79,000 (pa paid £18,000 cash in 1995)

So this “investor” put down 10% (£7,900)

A Quick calculation (25 year mortgage) =

Loan repayment @ £237 per month

+ 5% interest @ £296 per month

total = £533 per month

THIS FLAT RENTS OUT FOR £375 PER MONTH (MAX)

So the “investor” loses £158 per month (£1896 per year)

Developers? … .. investors? <_<

There’s just one word for anyone who buy UK property today (with the intention to make money)

And that is fools.

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Hi All,

The people living next door to my parents have a viewing tomorrow by a property developer! What does this mean? Why are they so interested? It has only been on the market for about two weeks?

Can anybody point out if this is relevent to HPC??

Thanks!

Dean

Round here it means you'll soon be living next door to an overcrowded HMO.

Developer <_<

My pa has just sold a crapy flat to an “investor” (who had to get a mortgage btw)

For £79,000 (pa paid £18,000 cash in 1995)

So this “investor” put down 10% (£7,900)

A Quick calculation (25 year mortgage) =

Loan repayment @ £237 per month

+ 5% interest @ £296 per month

total = £533 per month

THIS FLAT RENTS OUT FOR £375 PER MONTH (MAX)

So the “investor” loses £158 per month (£1896 per year)

Developers? … .. investors? <_<

There’s just one word for anyone who buy UK property today (with the intention to make money)

And that is fools.

Yeah, but property is a pension or somesuch nowadays. You have to pay in to a pension scheme don't you? Why not make a monthly loss on a flat instead?

This is the mentality that's driven the market.

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Developer <_<

My pa has just sold a crapy flat to an “investor” (who had to get a mortgage btw)

For £79,000 (pa paid £18,000 cash in 1995)

So this “investor” put down 10% (£7,900)

A Quick calculation (25 year mortgage) =

Loan repayment @ £237 per month

+ 5% interest @ £296 per month

total = £533 per month

THIS FLAT RENTS OUT FOR £375 PER MONTH (MAX)

So the “investor” loses £158 per month (£1896 per year)

Developers? … .. investors? <_<

There’s just one word for anyone who buy UK property today (with the intention to make money)

And that is fools.

Why would he repay the loan? IO mortgage and the loss you calculated becomes a gross profit of about £80/month, not brilliant but not a loss.

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Hi All,

The people living next door to my parents have a viewing tomorrow by a property developer! What does this mean? Why are they so interested? It has only been on the market for about two weeks?

Can anybody point out if this is relevent to HPC??

Decided to come out of HPC cold turkey to respond to this one...

It could mean you're due for a visit from the property developer yourself. For example, there are two semis with large gardens next to the block of flats where I rent (so planning permission for flats would be easy to get). One of them has already been bought by a speculator/developer and it has been empty for at least a couple of years. I was shocked to discover via the grapevine that he's now 'secured' the other property by reaching an agreement with the daughter of the woman who owns it. Apparently, they've already agreed that the developer gets the house as and when the old lady dies or is 'otherwise' unable to continue living in the house.

I hope that if you get a similar proposition, you'd respond in an appropriately violent manner.

C J

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It could be very relevant to a HPC if a BMV purchase causes local confidence in the housing market to spread rapidly into a national downturn. Along the lines of "if a butterfly in the rain forest flaps its wings ...".

You could:

a) worry about your inheritance

B) invest in this money making scheme

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There’s just one word for anyone who buy UK property today (with the intention to make money)

And that is fools.

er . . . not quite ! Depends what you buy.

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I believe planning restrictions are being lifted and your garden is now brownfield land? if you have a big garden it should be soon alot simplier to build alot of houses/flats on it. My dad keeps on mentioning/joking that he is thinking of knocking the house down and building 20 houses....

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Why would he repay the loan? IO mortgage and the loss you calculated becomes a gross profit of about £80/month, not brilliant but not a loss.

PROFIT?

what about voids, maintenance or even (heaven forbid) a drop in value!

this is the whole point :

my old fella took £30,800 in rent from this place

and then sold it (to a fool) for £61,000

PROFIT = £91,800 (from a £18,000 investment)

the fool who bought this place thinks he can make money because the value will continue to rise!

but surly the value has risen quite enough already (340% in 11 years)

can you not see that we are in a huge bubble - that is only staying afloat because of NEW "investors" who can't see the wood for the trees.

are you an "investor" ?

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Hi All,

The people living next door to my parents have a viewing tomorrow by a property developer! What does this mean? Why are they so interested? It has only been on the market for about two weeks?

Can anybody point out if this is relevent to HPC??

Thanks!

Dean

I'm not saying your case is this but this kind of thing was shown on tv a few weeks back. Gardens can be classed as brownfield sites and developers are taking advantage to replace the garden with a load of flats. Homeowners profit more than they would if they sold their property as an ordinary home. There are groups trying to fight this and there is a Conservative MP who spearheads the campaign. But it appears that the government are riding roughshod over those people's interests because of the perceived housing shortage.

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I would guess it means they may be interested in buying it, perhaps?

:rolleyes:

A good point, well made.

It is also a minor indication that not everyone in the country buys into the HPC theory. In fact, only one ten thousandth of one percent of the population do believe in the HPC.

The others haven't woken up yet?

Or have they?

There are groups trying to fight this

What people are upset about something so they fight it?

Novel idea.

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Either you will have a block of flats for neighbours six months for now or an amateur property developer hammering away day and night in his or her pursuit of money for "nothing".

Thats exactly waht I was thinking Philippa...sad really but thats where we are

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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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