few questions about buying house

stranger12

hi all,

I have few questions about the flats that I currently have bought

1. how can I find out what the price of my flat is or right estimation of it? is the only was to do survey?

2.has the market moved at all? I own flat both in Sheffield and London and think Sheffield prices may have not moved since 2007 but London maybe

3. what is the average uk property price increase ?

4. does flat under leashold prices go up more or houses or flats with freehold?


now back to my current situation, my flat in London is bought under shared ownership. I am thinking of buying more shares through mortgage , what does that involves? will it be new survery by the bank and new solicitor fees etc ?

is it even worth doing this? I am only doing it as I think the flat prices are going up and should buy it while it is not very expensive?

I appreciate all advises.

Guest101

Ask an estate agent to value the properties. go from there.Its impossible to say how much the properties have moved on here

Yorkie1

stranger12 wrote: »

hi all,

I have few questions about the flats that I currently have bought

1. how can I find out what the price of my flat is or right estimation of it? is the only was to do survey?

You could look on nethouseprice.com, which shows recent sold prices for properties in a street. Input your details and see what has sold, and for how much.

An Estate Agent would value it for sale and you could get an idea of what it might actually sell for, from that.

Or as stated already, a surveyor would give you a formal valuation but this costs.

2.has the market moved at all? I own flat both in Sheffield and London and think Sheffield prices may have not moved since 2007 but London maybe

Impossible to say with any precision. Will depend on specific street / area.

3. what is the average uk property price increase ?

Don't know, but if you hope to assess whether your property has gone up in value through using the average UK property price increase, this won't work.

4. does flat under leashold prices go up more or houses or flats with freehold?

Impossible to say. Far too general a question.

now back to my current situation, my flat in London is bought under shared ownership. I am thinking of buying more shares through mortgage , what does that involves? will it be new survery by the bank and new solicitor fees etc ?

is it even worth doing this? I am only doing it as I think the flat prices are going up and should buy it while it is not very expensive?

I appreciate all advises.

As above. You need to get the precise value of your own flat rather than worrying about the wider picture.

I don't know the answer to the shared ownership question, sorry.