Communities for the bargain basement crowd?
#166
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does it matter for investment purposes as long as it cash flows, or are you saying there are restrictions on BTL on leasehold properties?
The two links I listed are of the same property - cash flow investment BTL....hey, why not.
I suppose a savvy investor could take the 35,000 cash they have, buy one with 5O% down - BTL it at 375/mth, take the net profit to pay the mortgage on the second property (repeat of the first one) as a BTL, same price, same down payment.
The two links I listed are of the same property - cash flow investment BTL....hey, why not.
I suppose a savvy investor could take the 35,000 cash they have, buy one with 5O% down - BTL it at 375/mth, take the net profit to pay the mortgage on the second property (repeat of the first one) as a BTL, same price, same down payment.
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#167
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Good point but I have always been wary of Leasehold and hidden agendas. The other big factor of Cog lane is when the council bought a good few as empty run down Compulsory Purchase Order properties there must have been a reason why they were empty, and now that the local council is proposing a permanent travellers site nearby I do not think investing cash would be wise.
would you buy in Morecambe?
http://www.rightmove.co.uk/property-...-42193807.html
Others have pointed out in & around Rhyl North Wales which is a real benefits town. BTL with a good cash flow can be found in Lytham-St Annes.
As I posted up thread, Burnley with its 73,000 or so population is not all grim & grime, there are properties (houses) priced for sale over £500k
Last edited by not2old; Jan 16th 2014 at 10:29 am.
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#168
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Just wanted to post a Web site for people considering where to live when they return to the UK. I'll post it in all three "location" type threads, as it applies to all and it might get lost otherwise. Hope that's not breaking any site rules by too much!
I recently discovered Mumsnet, just by chance (no I wasn't searching for mums, quit your cackling).
http://www.mumsnet.com/
It has a forum like this one (click on the "Talk" at top left of the home page). There are often threads like "moving to the Coventry area - any suggestions of where to live?". I have read a few of these threads and they are really insightful, from people who actually live in these areas. Details of public transport, shopping, crime, accessibility to countryside, house prices, etc. throughout. They also talk about schools, nurseries, etc., as you'd expect from a mum's site but I just ignore those bits!
I recently discovered Mumsnet, just by chance (no I wasn't searching for mums, quit your cackling).
http://www.mumsnet.com/
It has a forum like this one (click on the "Talk" at top left of the home page). There are often threads like "moving to the Coventry area - any suggestions of where to live?". I have read a few of these threads and they are really insightful, from people who actually live in these areas. Details of public transport, shopping, crime, accessibility to countryside, house prices, etc. throughout. They also talk about schools, nurseries, etc., as you'd expect from a mum's site but I just ignore those bits!
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#169
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Just wanted to post a Web site for people considering where to live when they return to the UK. I'll post it in all three "location" type threads, as it applies to all and it might get lost otherwise. Hope that's not breaking any site rules by too much!
I recently discovered Mumsnet, just by chance (no I wasn't searching for mums, quit your cackling).
http://www.mumsnet.com/
It has a forum like this one (click on the "Talk" at top left of the home page). There are often threads like "moving to the Coventry area - any suggestions of where to live?". I have read a few of these threads and they are really insightful, from people who actually live in these areas. Details of public transport, shopping, crime, accessibility to countryside, house prices, etc. throughout. They also talk about schools, nurseries, etc., as you'd expect from a mum's site but I just ignore those bits!
I recently discovered Mumsnet, just by chance (no I wasn't searching for mums, quit your cackling).
http://www.mumsnet.com/
It has a forum like this one (click on the "Talk" at top left of the home page). There are often threads like "moving to the Coventry area - any suggestions of where to live?". I have read a few of these threads and they are really insightful, from people who actually live in these areas. Details of public transport, shopping, crime, accessibility to countryside, house prices, etc. throughout. They also talk about schools, nurseries, etc., as you'd expect from a mum's site but I just ignore those bits!
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#170
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The repayment mortgage is approx £200/mth more than an interest only mortgage.
http://www.moneysavingexpert.com/mor...culator#result
Last edited by not2old; Jan 22nd 2014 at 12:22 am.
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#171
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on the basis that you have a 60% LTV £100,000 mortgage and enough years left in your life, would you opt for the 'interest only' or the 'repayment mortgage - assuming 4% interest rate average across 25 years?
The repayment mortgage is approx £200/mth more than an interest only mortgage.
http://www.moneysavingexpert.com/mor...culator#result
The repayment mortgage is approx £200/mth more than an interest only mortgage.
http://www.moneysavingexpert.com/mor...culator#result
What point is owning a house outright when you're dead?
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#172
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On the basis the house price never increases in 25 years you'll have paid approx £158k with the conventional mortgage and with an interest only mortgage £100k - of course you still owe £100k.
One use for that £200/mth difference in payments could be to stick into a personal stakeholder pension plan to get further tax breaks. Assume growth = management fee within the plan.
example...
http://www.aviva.co.uk/stakeholder-pension/
Last edited by not2old; Jan 22nd 2014 at 10:15 pm.
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#173
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#174
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maybe the better investment
http://www.telegraph.co.uk/motoring/...ing-space.html
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Having watched more than my fair share of "property porn" TV shows during my time off work (the leg is coming along fine now, hopefully back at work by end of January!), I thought I'd post a slightly different "Where to live?" thread.
Quite a few returnees seem to come back either with limited resources, or from countries where property was much cheaper than the UK. As a result, we're not all able to choose from anywhere in the UK to live and have to watch the pennies when it comes to housing.
So ... as we seem to have quite a few property-watchers who know about these things, I was wondering if anyone has recommendations of places where the property market isn't quite as silly as the general country market, but are not bad places to live?
"Homes Under the Hammer" is one program I have been watching every morning (it's become quite a ritual; I don't know how I'll wean myself off it!). I like it much better than most of the property shows, because many of the houses they show are actually what I would call affordable (closer to £100k than £200k). The North Midlands and Northeast are areas that often seem to come up as affordable, but I don't know the towns they mention very well.
Any suggestions from our property porn experts of communities that are liveable but won't blow the budget?
Quite a few returnees seem to come back either with limited resources, or from countries where property was much cheaper than the UK. As a result, we're not all able to choose from anywhere in the UK to live and have to watch the pennies when it comes to housing.
So ... as we seem to have quite a few property-watchers who know about these things, I was wondering if anyone has recommendations of places where the property market isn't quite as silly as the general country market, but are not bad places to live?
"Homes Under the Hammer" is one program I have been watching every morning (it's become quite a ritual; I don't know how I'll wean myself off it!). I like it much better than most of the property shows, because many of the houses they show are actually what I would call affordable (closer to £100k than £200k). The North Midlands and Northeast are areas that often seem to come up as affordable, but I don't know the towns they mention very well.
Any suggestions from our property porn experts of communities that are liveable but won't blow the budget?
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#176
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Ive been looking into Consett in county Durham, 20 mins to Newcastle or Durham and right amongst some really lovely countryside. http://www.rightmove.co.uk/s6p/29170638
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#177
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I don't know the area at all. But, that looks like a lovely house, an absolute bargain, and Newcastle is a fine city.
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#178
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Ive been looking into Consett in county Durham, 20 mins to Newcastle or Durham and right amongst some really lovely countryside. http://www.rightmove.co.uk/s6p/29170638
I've been to Consett & thought at the time is was quite remote. The house looks good with a reasonable price. Peterlee is also another close by nice area
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#179
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Well its sort of stuck 1000 ft above sea level, I only went there for an interview but found that I actually liked it.
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