Harringay, Haringey - So Good they Spelt it Twice!
Large 2 double bedroom Flat for Sale on Harringay Ladder
Replies to This Discussion
-
Permalink Reply by John McMullan on
-
Look at the rental yield and asking price on this. Tell me something isn't wrong here. OK it will probably go for £150K but still it's a three bedroom flat that you're paying more than £1700pcm to rent, a fantastic return by any investor's standards.
I think the reason the price is so low is that it's on the 6th floor so you might not be able to get a mortgage on it. Another way banks screw over poor people (not all purchasers of their local authority flats made out good on the property ladder).
-
Permalink Reply by ElleCarumba on
-
Yep, hard to get a mortgage on them.
When I bought mine, it was fairly easy as it is ground floor in a four storey building but it still did not meet the requirements for 50pc of the flats to be privately owned so at least three major lenders would not consider it. my block is only 33pc privately owned.
If it is on the fifth floor or higher of a large block, you will really struggle to find anyone to lend on it. If it is of a certain era (concrete construction), no one will lend on it either.
No chance of every buying your freehold and have to deal with the local authority to get repairs done but then again, privately owned blocks often have rubbish management companies and outrageous service charges too.
-
Permalink Reply by james walsh on
-
Ha ha i recognise that bathroom (private joke) - i must say it is a beautiful flat
-
-
Actually the pension rules fixed a major problem although I think in the medium to long term they do store up trouble. Having watched my own father save like a bastard and then die shortly after turning 64 I am perhaps more wary than most of how those pension annuities work. I also, as a non citizen of this country, could take my meagre pension pot back to NZ as a lump sump before this rule anyway.
I'd like to address your fear that this will cause a property price bubble. For a start there is already a pretty big one in London and it's caused by the REST of the world being able to use their tax free pensions/savings/ill gotten gains to buy London property. Why shouldn't the people who actually live here be treated the same way? As for the small number of people who had managed to save enough to buy a house for cash (only fools give 65 year olds mortgages) which could provide them with an income, they're a drop in the ocean compared to all those middle class pensioners in China (HK & Singapore). The rest of us, with tiny pots (£250,000!!!) to offer the annuity salesman, will get £80K to give the kids and a £12K a year pension. And it's still next to nothing and doesn't include a partner. These deals were crap and the whole thing should be socialised and run by the government.
The market also thinks that Gideon's budget will not cause a house price boom, stop people saving or drive annuity salesmen to the wall (OK, they do think that last bit). Here is a chart of Berkeley Homes (Home builders, primarily in London), Hargreaves Lansdown (SIPP providers) and Just Retirement (annuity salesmen) over the budget.
I'm not saying that's evidence or that it's certainly the way things will go but if you really believe what everyone else has said about this and you're right, the market will be happy to take your money and make you rich.
I have my fingers crossed that social media will come to the rescue. People will organise rent strikes and collective rental agreements and hopefully this foreign money will SLOWLY find better places to be.
-
-
Not sure about Australia but in New Zealand there is no capital gains tax on property. My family back there have their pensions in houses.
-
Permalink Reply by Anna Maria Dipino on
-
A few houses for sale on the same road for nearly eight hundred thousand pounds.
-
-
Bargain! Which road?
- ‹ Previous
- 1
- 2
- Next ›
© 2024 Created by Hugh.
Powered by
