Quit everything , and start again over 50?

lessonlearned

Great find Gallygirl.

Cute little house, near the sea - Perfick......the road doesn't look too bad but I guess you would need to stand in the garden and have a good listen.

I would certainly go and view this one if I were looking around the Poole area.

another_casualty

Thanks gally ,and thank you both again.
I'll look into this , when I see my friend on weds.

Slightly tangent, my brother lives 2 bus stops away fro me in twickenham.He has a 1 bedroom . I would say his place is worth around £285,000.
He has a mortgage of about £40,000 . He's 65 next year .
With nationwide, you can now have a mortgage till you're 85.
His mortgage is with them .
My brother has 3 pensions coming out next year.
I was just wondering, in a bizarre situation, could he buy my flat ?
Doubt it , but it would make life easier

Smodlet

AC, might the question not be, "would he buy your flat?"

Dude, seriously, you live in a 2 bed maisonette with parking and a garden in Twickenham. While I do not know London at all (never seen much more of it than Oxford St and Tottenham Court Road; think I went to some ballet once on a school trip, millions of years ago) from what you say, and what seems to be, you should have very little trouble selling your place. Just watch any of the gazillions of property programmes on the box; London is the be-all and end-all of the property market. Can't see the attraction, myself but some of us grew up in oo-ar land and wish we were still there:D

another_casualty

Smodlet - yes he would
I had the misfortune of putting him up for 5 years.
( yes he did pay rent after 6 months )
He loves the flat, and the view from the living room and bedrooms .
Something I will miss.
Something just said' why not get the estate agent over to his flat?'
Mind you, my brother makes complications out of everything.
East Enders , is cheerful in comparison.

You are definitely nor missing anything about London.
For me, it'll mean I have to travel for the odd concert here now and then.
So many people are used to London , and expect it to be the same as always. It has definitely become more claustrophobic over the last 7-8 years for sure. As I say , you pay top dollar, and get a third world service.
Pay peanuts - get monkeys? What's the expensive replacement for peanuts here ?
You get the picture

Smodlet

If he would, then perhaps, he totally should, if you think it would get you what you want quicker... though from what you said about him paying you rent... you're the only one who can judge this situation. This is about you, not him.

Thank you so much for making me laugh (Eastenders, cheerful remark) I have been getting so down today. There are some really horrible people on one of my other threads, not what I thought this forum was about at all. Thank goodness you seem to attract only nice, helpful, constructive types. I like to think I merit being included in that group. I keep on coming back here just for some encouragement myself. Dunno what I'm doing wrong, getting too involved, probably.

another_casualty

Thanks again , for your kind words smodlet .
Please don't feel so down . Not sure what your other post is about.
The trouble with being on certain forums, people are often misconstrued.
Also, if you are on certain forums long enough, you get to see certainn people who are b@tchy to each other etc.

Remember , it's only a forum . You can always abandon that post,and go to a different one .
I'm quite overwhelmed TBH , and never thought that this thread would go to double figures
It's nice , and obviously flattering from all of you who have contributed .
You have all been very helpful ,and I doubt I could have done this without the input I've had here.
Also, what also inspires me , is the fact I detest east enders, coronation street , Britains got not talent etc..;)

enthusiasticsaver

another_casualty wrote: »

Thanks gally ,and thank you both again.
I'll look into this , when I see my friend on weds.

Slightly tangent, my brother lives 2 bus stops away fro me in twickenham.He has a 1 bedroom . I would say his place is worth around £285,000.
He has a mortgage of about £40,000 . He's 65 next year .
With nationwide, you can now have a mortgage till you're 85.
His mortgage is with them .
My brother has 3 pensions coming out next year.
I was just wondering, in a bizarre situation, could he buy my flat ?
Doubt it , but it would make life easier

I would imagine your brother would struggle to get and pay a mortgage of £400k to enable him to buy your flat? Even if nationwide lend up to age 85 they are one of few lenders who will and where will he get deposit from? Most lenders only go up to age 70 and very few do interest only so a repayment mortgage of such a large amount over only 5-20 years would be crippling in monthly mortgage payments so affordability checks could be a problem.

another_casualty

Thanks for that;)
My thinking would be , because he has positive equity in his property, he wouldn't need a deposit. He owes about £40k on a flat worth about £285k.
I don't know how much his mortgage payment per month would be, if his mortgage was to be increased to £180kor whatever it would be .
If it was around £400 p m , then I think he would be able to afford it.

It's probably best to leave it go, and hope that I get 2 or more bidders for my asking price

Smodlet

Thanks, AC. Would love to abandon post but there are some really cool people on there, too and I feel it is too important to just leave until I have done all I can; we really poor people have so few to fight for us... not your problem, I know and thanks for the encouragement, it's a privilege to be on your thread.

If your brother is 65, not too many places are gonna fall over themselves to give him a mortgage, as has been said by other people. I would maybe just go for the open market; if your brother is that bothered, it is up to him to find a way to buy your flat at its market value, don't you think?

gallygirl

I'd be a bit worried AC if your brother complicates things. Also if you are serious about him possibly wanting to do this, check out the EA's contract very carefully to make sure you don't still have to pay a fee if you get a private sale.

Smodlet I reckoned that coming from London AC would think Blandford Rd was quiet , take your point about potential flooding though :eek:. I just thought it was a nice house in good condition with hopefully not too many ongoing maintenance issues as AC has some health problems. Also the back garden would be nice for our housewarming barbie .

BTW Smodlet - I think I know the thread you're referring to. If you think that's bad you should go on there saying you're a new landlord looking for advice - they eat new landlords for breakfast :eek::eek::eek:. Don't take it personally x