Owning your own home

Termites in the UK? Blimey

Straya... 🐜🐊🐙🐍🐬🐳🌀🐡

Cheers all. I looked at the ABI calculator and it doesn't really give you an option for a house split into flats but suggestions are probably £300k+ for the full property (if we're going on the sash window count, the house has 20 of them).

The insurer hasn't recommended a rebuild figure (you can of course use their surveyor for £300 plus VAT), just says it is probably too low from use of Google Earth.

I may have a look at some other providers, bringing the rebuild value up by £80k adds another £100 to the quote.

Trying to sell our flat, but had v little interest in the month its been on the market.

(shameless self promotion http://www.rightmove.co.uk/property-for-sale/property-59790112.html)

Had 4 viewers, 1st wasn't sure he wanted to live in the area, the next wanted a new build (this is 30 years old), 3rd guy hasn't given feedback and the most recent wants a 2 bed flat...
Completely useless feedback as we cant move the building, add a bedroom or make it a new build.
Given up looking as if we can't shift ours I don't want to be a dick about dragging out the process longer than necessary (also we have our eye on a fixer upper round the corner, but the owner won't accept offers from someone waiting to sell)

Here's a weird one.

I've moved into a block which has a mix of communal and private land out front. The freeholder has turned his private land into a public car park - thus granting the public access to our communal area. This has led to all kinds of antisocial behaviour - people living in our bin area, drug deals, people pissing and shitting in our hallways, fly tipping, the lot.

I'm wondering - does anyone know the point at which our rights as residents come up against his right to make money off the land as a freeholder? This place would be lovely if we could close the gate and slow down the antisocial behaviour a little.

Anyone else moved to Walthamstow since I last logged in?

Fraid so

I'm wondering - does anyone know the point at which our rights as residents come up against his right to make money off the land as a freeholder?

What does the lease say regarding use of the communal areas?

A wise decision. Which sub-sector?

Reduce the price.

Lea Bridge Road, junction of Markhouse Road. Bit cracky round here isn't it. Where're you at?

Does he have / need planning permission to change the land into commercial parking? Used this when someone was using an empty plot near us for skip lorry parking

Just tipped in Cityam:

http://www.cityam.com/266542/focus-leyton-leytonstone-first-time-buyers-cafes-and-coffee

That's a good goddamned point. I think this happened back in the 80s so it's not mega easy to find but I'll be able to dig it out through the council. Thank you!

w00t!

Glorious Lloyd Park. My old ride home was up Lea Bridge then into Markhouse, before I started turning off at the ice rink and riding over the marshes and up Coppermill.

getting so frustrating being priced out by folk (mostly developers) with cash to burn above the market value.

My wife and I earn good money and can get a very decent mortgage but when someone offers £20k over the home report value we just can't pull that kind of cash (on top of our deposit) out.

More frustrating to know that we're both earning above the national average - if it is this bad for us, what hope do others have?

This might be a facile comment, but if many people are willing pay above what the report says is 'market value'... then the report is wrong.

What area are you in as my experience in London recently is almost the exact opposite.

Maybe in Scotland it is different but the banks up here will only give you a mortgage for the value in the home report.

So whatever you need to match/beat the bids of others above the home report value has to be in cash (as well as 5 or 10% deposit).

Perhaps it people with huge deposits ie from parents or inheritance.
Apparently using buytolet mortgages which don't look at salaries but rental potential.
Mortgage fraud is rife. But much better since the dark days of self certified.
It's crazy they even existed.

Reduce the price.

Alternatively when people ask where it is say 'Laindon' very quickly in an Essex accent so people think it's in London and worth more.

(sorry)

Some of it is that but according to our advisor there are a lot of developers out bidding 'normal' people

So... The bank is willing to lend us an obscene amount of money to buy our first house, plus an even more obscene amount if we need it!...... Shit just got real!

Right... but it's not 'overpaying' though. It's just that the value is higher. Overpaying implies irrationality and that's not the case in this situation.