Owning your own home

If it's a flat it is not odd at all. We are in the middle of a pandemic and half the nation is on furlough, first time buyers cant get a mortgage less than 15% and the large chunk (of flat owners) approx. 3 million are being held up by a form that we can't get and don't actually legally need.

We are headed into Brexit and a recession if I was a first time buyer and had a chunk of cash I'd be keeping it firmly in my pocket right now, as who knows what state the job market will be next year.

I'd suggest new photos and possibly a new agent. Simply because as others have stated if I see the same house listed a few times I'd think something was off.

https://www.rightmove.co.uk/properties/85725262#/ - the outside space is the selling point basically, its sort-of unique in that, theres no adjoining walls with any neighbours, and a good outdoor space, at the sacrifice of indoor space obviously, but at the lower end of the (London) market.

Thanks for advice everyone, I think we'll look to getting a new agent for the new year then

Yeah, when you put it like that, it makes a lot of sense

ime a lot of people's engagement with properties when property hunting is driven by the alerts they set up on websites (rightmove etc.) so when we were looking to move, for example, we set up dailly alerts for new properties in the areas we were targeting. we'd drive our search off the results of those. very rarely (if ever) would we go onto the website and do search/deep dive on all the listed properties in those areas, trawling through the pages. also ime a lot of the activity on property listings takes place in a flurry in the first two weeks (probably because most people engage with the market as outlined above). I always think (and sure most people do the same) that if I do see a property that has been on for a while (i) must be an issue with it not apparent from the photos or (ii) mmmmm chance for a bargain maybe.

Go on then, link me up... I think this is one of the places I looked.

Apparently some people spend there weekends going to house viewings they have no interested in buying, strange hobby.

@rogan - crazy I run past your place most weeks. I'm trying to work out, is the outdoor space on the first floor? can't work out where that external door goes to if thats the case? Does it include a garage? Looks to be a great price.

not a comment on rogan's place which looks immaculate from the photies but lol london prices are a trip

Yeah the 'entrance' is onto the terrace and straight into the flat, so its a private outdoor space too.

Theres 9 2m*1m storage lockers underneath the terrace, 3 for each of the 3 flats so lots of storage, the actual garages are for rent through the council.

Update on my girlfriends ews1 situation, they have managed to convince the directors of the residents association to proceed with inspection. They should have done it months ago but were resisting for some reason and kicking the can down the road.

When they voted for the directors a year or so ago I don’t think they realised how much power they were giving them, they could have blocked it entirely which we were worried they were going to do, it’s crazy.

you could buy whole neighbourhoods OOP NORTH* for that money

(*also including the true north, scotland)

Great looking place at a decent price.
@cozey yeah they are... I remember having a chat with a old lad who had moved north who used to live in Leyton and he guessed prices must be as much as 170K for a house these days...

I like Hackney council, shame @Fox is leaving

Watch out Stella Creasy!

That sounds like positive news.

It looks like the management company will sort one for my building too, just waiting on an update. They are assuming that the height may be reduced in any change in the guidance and therefore we would need one anyway.

I've managed to accertain that they are doing them as and when it comes up as an issue at the moment, rather than doing them all.

Hopefully positive but I'm by no means counting my chickens.

FWIW I've not had any viewings in over a month, my neighbour had a buyer that fell through in the last lockdown, and has gone back in the market and hasnt had anyone through the door in weeks (and we are on with completely different agents).

I would just wait until things hopefully pick up in spring.

The other issue for first time buyers is that furloughed income won't be included with most lenders (or considered until you've been off furlough for 3 months) - now furlough can be part time and has been extended i think this is likely an issue too.

We've had Phil Glanville round for dinner at the other half's supper club a few times, I think he's great. Just seems like a lovely man who's in it for all the right reasons.

When we move to Waltham Forest I'll start a one man campaign against wood burners. That's going to endear me to the neighbours isn't it? (And half the forum)

I am in Jon Burke fan club

I'll start a one man campaign against wood burners.

First point of action; take a shit on @chrisbmx116 's doorstep as dirty protest, assuming he has one

Great looking place at a decent price.

Can only echo this really @rogan sorry. Good location too. And listing tbh. It's a bit of a funny building and not the most beautiful but that's what makes the outside space/no adjoining neighbours thing possible.

I would talk to Nested. They were one of the ones we considered and I get the feeling they're better than most. I'd worry that you could end up taking a step down in terms of agent if you switch. You could take it off with them, get new photos, put it on again after Christmas or something.

Isn't there an issue with valuations coming in lower that what people offered and they can't get the
mortgage they hoped? Everybody got excited after the first lockdown but maybe that has cooled now.

https://www.independent.co.uk/money/house-prices-mortgage-latest-stamp-duty-holiday-b1179046.html

A survey of 1,000 buyers whose transactions spanned the first six months of the Covid crisis, found 46 per cent have had their prospective property down valued by their chosen mortgage lender after a sale and price had been agreed with the homeowner.

You assumed right, plenty of shits on my doorstep thanks.

My suggestion to anyone who lives in a building sub 18m but would be covered by one of these forms (cladding, balconies etc) should be pushing the management to get one ASAP even if you don’t intend to move or remortgage.