The "have a look at this!" thread II

Owain_Moneysaver

Dandie89 wrote: »

https://www.rightmove.co.uk/property-for-sale/property-74097679.html
Plenty of features to get your teeth into here. I wonder why "conversation pits" went out of fashion

Too many sprained ankles after too much Mateus Rose.

GDB2222

SnooksNJ wrote: »

I've been stalking this house for decades in hoping it would one day go on sale.

I have a feeling I have seen this for sale before now. On MSE around 6 months ago, perhaps?

snowqueen555

Curious to know what this is, as the info seems wrong?

https://www.rightmove.co.uk/property-for-sale/property-85478822.html

The 'Shared equity' scheme enables first-time buyers, who cannot afford to purchase outright on the open market, to purchase a brand new property. You pay 65% of the full open market value via a mortgage and deposit. There is no rent or other payments payable on the remaining 35%.

Owain_Moneysaver

snowqueen555 wrote: »

Curious to know what this is, as the info seems wrong?

It's correct. This scheme is run by Cardiff Council

This usually means that a successful applicant will finance the greater share of the property through a mortgage and personal savings. And the council, or a nominated housing association, will finance the lesser share.

The exact share available to own will depend on the criteria of the property offered under the scheme, but this will typically be 70%. As this is a shared equity arrangement you won’t have to pay rent on the share that you do not own.

You will repay the share you don’t own when you sell the property or buy it outright. This will be based on the current market value at the time.

The problem is claiming the property is "worth £195,000". I think that's a case of "new build optimism".

The most expensive 2-bed semi within 5 miles is on Rightmove at £189,995. The mid-market value appears to be about £170,000.

When the buyer comes to sell, 35% of the sale price has to be returned to Cardiff Council.

snowqueen555

Owain_Moneysaver wrote: »

It's correct. This scheme is run by Cardiff Council



The problem is claiming the property is "worth £195,000". I think that's a case of "new build optimism".

The most expensive 2-bed semi within 5 miles is on Rightmove at £189,995. The mid-market value appears to be about £170,000.

When the buyer comes to sell, 35% of the sale price has to be returned to Cardiff Council.

Usually you have to pay rent on the percent you do not own, but this this case it seems you do not. I am not sure why.

epinjy

Probably a way to help people to afford to buy a house. This sounds exactly like what will come of Boris' promises for a 30% discount to local people, I suspect it will work in the same way (and to also be a sufficiently small enough scheme with enough caveats to be irrelevant to most).

snowqueen555

epinjy wrote: »

Probably a way to help people to afford to buy a house. This sounds exactly like what will come of Boris' promises for a 30% discount to local people, I suspect it will work in the same way (and to also be a sufficiently small enough scheme with enough caveats to be irrelevant to most).

A lot less attractive if that were the case, the main problem with shared ownership is that you don't really have the same rights as a homeowner yet bear the whole responsibility when things do go wrong.

JuzaMum

https://www.rightmove.co.uk/property-for-sale/property-85754651.html

I thought this looked a nice house at a great price for the area. What's the catch I asked myself?

The picture is of the property in front of the one for sale!

Patr100

Another mostly er....colourful one. Brace yourself though for the bathroom.

https://www.rightmove.co.uk/property-for-sale/property-76088605.html

RelievedSheff

Some people need saving from their own "interior design "