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julia urquhart

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  1. 113 years should be fine. Make sure you know all the costs buying at auction and please don't buy a property without reading the legal pack - especially if you're a newbie!
  2. My son is in a similar position - although not in London so the figures are lower. The problems I believe are: 1. When the ground rent is above £1000 in London £250 elsewhere it becomes an Assured Tenancy and if you fail to pay it the freeholder can reclaim the property - this means that lenders may not want to lend on it. 2. The ground rent as a % of the value of the property - lenders don't like above 0.1% Your conveyancer should have advice but you need to consider if it may be a problem when you come to sell. I believe an RPI link is quite common but a quick look at the
  3. Students are what I can 'naive renters' - they don't really understand they are signing a legal contract & don't really expect to abide by it! Many are living away from home for the first time and they may have very little common sense when it comes to looking after a house, paying bills etc. They can also be very hard wearing - I had a group of boys who only seemed able to go upstairs by putting their hands on the walls on both sides! They can leave little problems until they are big problems; fail to clean; cause condensation issues etc. On the other hand it is good rent. My a
  4. Is a ground rent increasing by RPI every 15 years also likely to be a problem? (just gone up from £220 - £325)
  5. Why do you imagine they would not tell you the truth?
  6. Stuart is the expert on the money side but here are my thoughts: 1. Be as up front as you can with the estate agent - tell them you love the place and you really want to buy it, but it is right at the top of your budget. 2. Can you borrow anything to push up your deposit? 3. Be philosophical - if its meant to be you will get it, if not its because there is something else round the corner. To be honest, stretching every financial sinew in your body to buy a house is not always wise and if something unexpected happens you should be in trouble. If you don't get this house then
  7. My guess is that the market will slow when the SDLT holiday finally ends and prices will stabilise or drop a little. I think the supply of properties coming on to the market will dry up and so the upward pressure on prices will commence again and as prices go up more properties will come on to the market.
  8. If you think the communal areas are grotty so will a prospective tenant so I would be inclined to give it a miss. If the freeholder isn't maintaining these areas now they will only deteriorate and may deter any potential tenant or reduce the achievable rent or future sales value.
  9. Combi boiler should be ok - check with your plumber. You don't say if it is a family home and what showers / baths there are which are clearly a factor. My family home is a 4 bed with 2 toilets but only 1 shower / bath combo and I love my combiner's boiler. If yours is an HMO you need to be sure it is up to the job. Gas boilers are supposed to be being phased out but I can't really see it happening in that time frame as there is no viable alternative so I would be happy putting in a new gas boiler. I always put in what my plumber recommends - he is the expert and will be looking afte
  10. Survey should be done straight away - then if there are issues you can negotiate the price to cover remedial costs. Structural issues show up as significant cracks in walls &/or ceilings; sloping floors; door frames that aren't level; cracks in floor tiles. Damp may result in discoloured paint work, mould (especially in corners) etc. Its of fresh paint can be a sign or trying to hide a problem. These things are easily spotted by someone who knows what they are doing but may be harder for a novice - hence the need for a surveyor. Good luck
  11. You might also want to put a drain cleaner down all your drains now and again to keep them clear. Some drains have a tendency to block so regular maintenance is better than waiting for them to block.
  12. Try gumtree - people buy all sorts of stuff!
  13. Don't rely on Zoopla valuations - it s just an algorithm applied to the last sale and can be completely wrong! Ask a local Estate Agent.
  14. You need to be sure the you don't create an unbalanced house - is there enough living space for the bedrooms? Is there enough outside space for the number of people living in the house? If you get it wrong it may be tricky to sell. Good luck
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