Debate House Prices


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Shared ownership scams

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  • phil_b_2
    phil_b_2 Posts: 995 Forumite
    Chris2685 wrote: »
    2 Bedroom Terraced house in South East (Iver Heath, near Slough)
    25% valued at 89,950 (100%=£359800)
    6006_1911756_IMG_00_0000.jpg


    How can that heap ever be valued at anything close to 360k?
  • B.E.N
    B.E.N Posts: 193 Forumite
    the sad thing is that any they do sell will be to the very most vulnerable/gullible.

    It's worse that that - the sad thing is that the sensible (us!) will suffer because the gullible idiots that you mention will keep the prices high and everyone suffers then..
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 31 August 2010 at 9:16PM
    GDB2222 wrote: »
    Which area are these PN? Nothing at all round here for 100k.
    Cornwall, nice enough area, less than 1 mile to a beach. In an area where jobs exist, allbeit low pay jobs, they do exist.

    I can prove it, with links, but not going to as I want to keep this secret corner all to myself :)
  • bo_drinker
    bo_drinker Posts: 3,924 Forumite
    Chris2685 wrote: »
    They are indeed. I might ring them up later to just double check that they have not made a mistake in the ads... It just seems insane.

    What did they say...... fkn thieves. :rotfl:
    I came in to this world with nothing and I've still got most of it left. :rolleyes:
  • GDB2222
    GDB2222 Posts: 26,181 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Cornwall, nice enough area, less than 1 mile to a beach. In an area where jobs exist, allbeit low pay jobs, they do exist.

    I can prove it, with links, but not going to as I want to keep this secret corner all to myself :)


    Oh, I thought Cornwall had gone all expensive.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 31 August 2010 at 9:51PM
    GDB2222 wrote: »
    Oh, I thought Cornwall had gone all expensive.
    It has, but every now and again there are places that nobody wants to own, wouldn't make for a good holiday home or let.... and so now, in these 'down times' ... there are some 2-up-2-downs to be had.

    I just peeked and the £75k one sold in 2007 for £125k.

    Where's the 70% club ... they might want to toast that. It's 40% down from it's peak ... and been on since April (£90k), reduced to £75k earlier this month.
  • Chris2685
    Chris2685 Posts: 1,212 Forumite
    I'd love to move to Cornwall if it wasn't for the lack of jobs and family distances.

    Cheers for all your comments on this guys, good to see I am not alone in my thinking.

    I never did phone them, but I bet they are getting excited about all the hits they're getting on Rightmove :D
  • Chris2685
    Chris2685 Posts: 1,212 Forumite
    Golden.

    I just rang them and she actually said they have a premium on them because they are shared ownership.

    The rent on the other 75% is £24 a week (so she said?? Seems rather low to me for £270,000 worth of a property!) which I guess would make it not too bad in terms of cost per month. The fact that you would eventually need to buy back the property at a vastly increased price would be a total no dealer though.
    There is also a service charge on top, which she did not know off hand.

    Sounds like total rubbish to me. A premium for an affordable home ownership option. Rediculous!
  • dmg24
    dmg24 Posts: 33,920 Forumite
    10,000 Posts
    Chris2685 wrote: »
    Golden.

    I just rang them and she actually said they have a premium on them because they are shared ownership.

    The rent on the other 75% is £24 a week (so she said?? Seems rather low to me for £270,000 worth of a property!) which I guess would make it not too bad in terms of cost per month. The fact that you would eventually need to buy back the property at a vastly increased price would be a total no dealer though.
    There is also a service charge on top, which she did not know off hand.

    Sounds like total rubbish to me. A premium for an affordable home ownership option. Rediculous!

    The rent could well be correct because some older SO properties had clauses restricting increases above inflation/ RPI etc. I paid around £80 per month rent including the service charge (although my property was worth half the ones listed).

    My SO experience was very positive - I paid a ridiculously low amount each month for a very nice property. I also made a 100% profit when I sold. The next owners sold at a loss, and the price still has not recovered. It works for some people! ;)
    Gone ... or have I?
  • It has, but every now and again there are places that nobody wants to own, wouldn't make for a good holiday home or let.... and so now, in these 'down times' ... there are some 2-up-2-downs to be had.

    I just peeked and the £75k one sold in 2007 for £125k.

    Where's the 70% club ... they might want to toast that. It's 40% down from it's peak ... and been on since April (£90k), reduced to £75k earlier this month.


    I am going to give you a chinese burn if I ever meet you...

    & I will keep doing it until you submit & give me everything you know....
    Not Again
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