Not about Spain..lo siento

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This topic contains 25 replies, has 5 voices, and was last updated by Profile photo of Anonymous Anonymous 7 years, 7 months ago.

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  • #54913
    Profile photo of katy
    katy
    Spectator

    Does anyone know the implications of buying a grade 2 listed house in the UK? The house is already renovated so we would not want to do alterations or extend.

    I think it would make a good bolthole/investment buy.

  • #91632
    Profile photo of Anonymous
    Anonymous
    Participant

    These sites might help:
    http://www.english-heritage.org.uk/ (this site seems to be down at the mo)
    http://www.listedpropertyownersclub.co.uk/

  • #91633
    Profile photo of Anonymous
    Anonymous
    Participant
  • #91637
    Profile photo of katy
    katy
    Spectator

    Wow! thanks. quick service πŸ˜€

  • #91643
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Kate

    Grade ii or Grade ii*

    There’s a big difference in what you can and can’t do!

    I’d start by getting hold of the listing – this will identify why the property has been listed and then you take it from there.

    The Draft Heritage Bill is soon to be released as the Heritage Act and this will (i think) transfer total control of listed buildings from the Secretary of State and the Department for Culture and Sport to English Heritage.

    First port of call should be your local planners or an architect is planning renovations.

  • #91656
    Profile photo of katy
    katy
    Spectator

    Thanks πŸ™‚ it doesn’t have a *. I googled and it seems to be farmland on two sides. Wondering about the possibility of gypsies or the farmer moving pig styes to the border…perhaps I am being over cautious πŸ˜• It is fairly close to Bognor. I really think the UK market won’t be in the doldrums for long.

  • #91657
    Profile photo of Anonymous
    Anonymous
    Participant

    @katy wrote:

    I really think the UK market won’t be in the doldrums for long.

    Don’t get misled by the media. UK still is in bad shape, the unemployment
    is still skyrocketing.

    Buy only if you do not care if you lose some money. Prices might still fall at least 20%.

  • #91659
    Profile photo of Anonymous
    Anonymous
    Participant

    Mmmmm..I didn’t take you to be a Bognor girl ,Katy! πŸ˜‰

  • #91660
    Profile photo of katy
    katy
    Spectator

    I don’t know it well, it’s an inland village…is it not great down there 😯 ?

  • #91661
    Profile photo of Anonymous
    Anonymous
    Participant

    Flosmichael, you say property prices in the UK may fall a further 20%. There are very few properties for sale as it is. People are not selling now, unless desperate. The market will grind to a halt if it falls much further.

  • #91662
    Profile photo of katy
    katy
    Spectator

    I am not too worried about the UK property market falling. Good stuff hasn’t dropped much. In the 80’s we bought an apartment for our daughter (London) which soon after went into negative equity. However about 18 months later it was sold for Β£115,000 profit.

  • #91663
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Katy,
    Well, if you wouldn’t live in Torrevieja then I don’t think you would want to live in Bognor.
    There are some lovely areas outside Bognor itself nearer the Chichester area, which is no distance from Bogor Regis, (as it is known). Let’s just say, an address with Bognor in it, isn’t ideal for a discerning person such as yourself. πŸ˜‰ I think the exception would be Aldwick Bay.

    (Apologies in advance to anyone living in Bognor πŸ™‚ )

  • #91664
    Profile photo of katy
    katy
    Spectator

    Thanks for the tip, I am going to run anything past this forum. Bit open at the moment, have also looked at Dorset. It is near Chichester but I don’t know if it’s the wrong side of “near” πŸ˜†

  • #91665
    Profile photo of Anonymous
    Anonymous
    Participant

    Parts of Dorset are beautiful. Enjoy the search. πŸ™‚

  • #91667
    Profile photo of Anonymous
    Anonymous
    Participant

    @Claire wrote:

    Flosmichael, you say property prices in the UK may fall a further 20%. There are very few properties for sale as it is. People are not selling now, unless desperate. The market will grind to a halt if it falls much further.

    This is called the denial phase… Other parts of UK have long past that phase.

    In what concerns me, properties in the area I live fell to my expected amount (about 25% from August 2007) so I am preparing to buy as soon as there is something on the same street with my kids school.

  • #91672
    Profile photo of Anonymous
    Anonymous
    Participant

    Well, I can’t see things changing sometime soon where I live. What we are seeing now are Estate Agents closing down. I do think that people are not prepared to drop their asking prices. If they don’t need to sell, then they will sit the recession out.
    My daughter and her husband who are desperate to move to accommodate an expanding family, have an offer on their house from people renting. They cannot find anything to buy. The hit they are taking on their house is not following through higher up the ladder. The agents are saying that they are not even valuing houses in their price bracket! c Β£600,000. When they do they are being snapped up by people who sold at the peak and are now renting. I guess it’s different in every area of the country.

  • #91673
    Profile photo of katy
    katy
    Spectator

    I have been looking on rightmove for a while and have viewed a few. I have not seen any significant drop in the areas I am looking. As Claire says there are less on the market and most tend to be the same, recently built stuff. I want mature gardens, privacy and character 8)

  • #91677
    Profile photo of Anonymous
    Anonymous
    Participant

    “I googled and it seems to be farmland on two sides”.



    Its either isoclated or one side sounds ripe for infill development to me!

    Pig styes might be the least of your worries?

  • #91678
    Profile photo of katy
    katy
    Spectator

    Hey! stop being scary, I’m supposed to do that πŸ˜‰ πŸ˜† It is the last house on a street on what they say is a conservation area. May look at it in a few weeks when I am over…If I haven’t discounted it before then 😯

  • #91680
    Profile photo of katy
    katy
    Spectator

    Well what do you know…it’s !@*!;* SOLD 😈 Just been back for another look and it has the sold sign on. Was in old Berstead.

    Cancel the thread πŸ˜†

  • #91682
    Profile photo of Anonymous
    Anonymous
    Participant

    Anything good goes before you can blink Katy πŸ™

  • #91683
    Profile photo of Anonymous
    Anonymous
    Participant

    @Claire wrote:

    Well, I can’t see things changing sometime soon where I live. What we are seeing now are Estate Agents closing down. I do think that people are not prepared to drop their asking prices. If they don’t need to sell, then they will sit the recession out.
    My daughter and her husband who are desperate to move to accommodate an expanding family, have an offer on their house from people renting. They cannot find anything to buy. The hit they are taking on their house is not following through higher up the ladder. The agents are saying that they are not even valuing houses in their price bracket! c Β£600,000. When they do they are being snapped up by people who sold at the peak and are now renting. I guess it’s different in every area of the country.

    If people do not need to sell, then surely they will wait/hope till the thing is over.

    I sold in August 2007 and rented for 2 years. The 3 bedroom house prices in the area I moved fell by about 50K so these are money well saved. πŸ˜€

    My only problem now is that I enjoy so much trouble-free renting that I might never buy again, only when the rents are comparable to the mortgages (now I still rent a 225K Pound house for 670 per month so it is a no-brainer to rent).

    Why isn’t your daugter happy to rent? 600K is an awful lot of money to
    put into a pile of bricks…

  • #91684
    Profile photo of Anonymous
    Anonymous
    Participant

    Flosmichael, to rent a 4 bed property in our area is at least Β£1600/Β£2000 per month. Her husband works at home 3 days per week and needs a study. So to buy or rent? It’s a no brainer! πŸ˜‰

  • #91685
    Profile photo of Anonymous
    Anonymous
    Participant

    @Claire wrote:

    Flosmichael, to rent a 4 bed property in our area is at least Β£1600/Β£2000 per month. Her husband works at home 3 days per week and needs a study. So to buy or rent? It’s a no brainer! πŸ˜‰

    Each 100K Pounds attracts a monthly payment of about 600 Pound/month (for a 5% , 25 year mortgage, an excellent long-term mortgage.

    So a rent of 1800 Pound/month would be the equivalent of taking a
    300K mortgage.

    For a 600K house with a 100K deposit, the mortgage would be at least
    3000 Pound/months which is much more than 1600/2000 per month
    (besides the 100K deposit which is not so negligible either).

    If I were your daughter, I would not pay more than 450K for a house with a rental potential of 1600/2000. This would imply a 80K deposit and a 2200 monthly mortgage.

    Of course if they have 600K sitting in the bank (at the 0% percent savings rate that Mr. Darling is offering us), then I would agree that it is better to buy than rent. I do not know your daughter’s situation.

  • #91688
    Profile photo of Anonymous
    Anonymous
    Participant

    They already have a house and have a tracker mortgage, which they are keeping. The tracker mortgage has (at the moment) diddly squat interest.
    Personally, I would never want to rent. It’s dead money.
    I’m sure your reasoning is very sound. πŸ™‚
    I’ll run your figures by my husband, …my eyes glazed over on the second line!!!! πŸ˜†

  • #91689
    Profile photo of Anonymous
    Anonymous
    Participant

    @Claire wrote:

    They already have a house and have a tracker mortgage, which they are keeping. The tracker mortgage has (at the moment) diddly squat interest.
    Personally, I would never want to rent. It’s dead money.
    I’m sure your reasoning is very sound. πŸ™‚
    I’ll run your figures by my husband, …my eyes glazed over on the second line!!!! πŸ˜†

    They should try though to take advantage of the historical low 5 and 10 year fixed rate. The interest rate can jump from 0.5% as fast as it went from 5% to 0.5%.

    I perfectly agree that, in normal conditions, rent is dead money. But this is only when the cost of a house is at most 4 times the salary. if the cost of a house is more than 4.5 – 5 times the salary, the mortgage rate is much higher than the rent.

    This is why many financial people are predicting further price falls, jut to return the monthly mortgage rate to be not much higher than the rent.

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