Local Authority Built property

abtmay

Just received the mortgage valuation today and the survey mentions that the property is a Local Authority Built property, approx year of construction is 1950. It also mention that the property's location wthin a public sector housing estate may deter some purchasers and affect marketability. This is reflected in the mortgage valuation.

We'd been to the property area a few times and like the place, just wondering we should be concern abit the location or valuation in future.

Would appreciate views on this.

olly300

Location is more important than who built the property.

You need to look at the local amenities such as schools and how good they are.

DVardysShadow

EX LA is nearly always good value at FTB [ie entry] prices. You generally get a decent garden and a fair amount of accommodation for the price and it commands a lot of attention at the right price for resale.

But always, always pitch your buy in as "Good accommodation for little over FTB price" and never, ever as "Reasonably good value for a house with this headline level of accommodation."

My fiorst was ex - LA and I never regretted it.

clutton_2

the type of construction is crucial - as some local authority built properties had concrete cancer, others did not - find out from a local surveyor who is bound to know if s/he has worked there for a few years

abtmay

Thank everyone. Guess it's more important on location (we like the place) than who built it. The house wasn't PRC or BISF either, thus ok.