- This topic has 25 replies, 5 voices, and was last updated 15 years, 4 months ago by
.
-
Posts
-
-
-
These sites might help:
http://www.english-heritage.org.uk/ (this site seems to be down at the mo)
http://www.listedpropertyownersclub.co.uk/ -
Lots of info on Google.
-
-
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.
-
-
@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%.
-
-
-
-
-
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. 😉 I think the exception would be Aldwick Bay.(Apologies in advance to anyone living in Bognor 🙂 )
-
-
-
@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.
-
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 £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. -
-
-
-
-
-
@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 £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. 😀
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… -
-
@Claire wrote:
Flosmichael, to rent a 4 bed property in our area is at least £1600/£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! 😉
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.
-
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. 🙂
I’ll run your figures by my husband, …my eyes glazed over on the second line!!!! 😆 -
@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. 🙂
I’ll run your figures by my husband, …my eyes glazed over on the second line!!!! 😆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.
-
- The forum ‘Spanish Real Estate Chatter’ is closed to new topics and replies.
