Bought recently in Islington?

nLdn

Hi,

I'm on the search atm for a flat in Islington, ideally ex local authority. I was wondering if anyone here has recently purchased similar in the borough and would mind a few questions about things locally.

Thanks in advance.

B

marksoton

Don't know the area well but why ex LA?

alexanderalexander

Not Islington, but I've bought ex-council flats in other inner London areas and I know the borough of Islington well. What are your questions?

marksoton wrote: »

Don't know the area well but why ex LA?

I'd presume because they cost around 40% less per square foot than private blocks.

marksoton

alexanderalexander wrote: »

I'd presume because they cost around 40% less per square foot than private blocks.

40%? I find that hard to believe. Especially when you see the posts on here of countless freeholders demanding massive repair bills.

alexanderalexander

marksoton wrote: »

40%? I find that hard to believe. Especially when you see the posts on here of countless freeholders demanding massive repair bills.

I'd say the opposite -- leaseholders in private blocks are usually much more at risk of rip off service charges and high ground rents than those in council blocks.

40% discount per sq ft is a rough estimate, obviously depends on individual blocks, but when I was looking to buy in London 3/4 years ago it held true.

carefullycautious

I know this is from a few years ago but it is still relevant so you do need to be careful


http://www.homesandproperty.co.uk/property-news/huge-bills-for-excouncil-flats-29331.html


This is more recent


http://www.leaseholdknowledge.com/uproar-in-oxford-as-50-council-leaseholders-face-bills-of-50000-each

agrinnall

alexanderalexander wrote: »

I'd say the opposite -- leaseholders in private blocks are usually much more at risk of rip off service charges and high ground rents than those in council blocks.

That's an entirely different thing to what Mark was referring to though. I think most people would agree that what you say is true, but also that what Mark says about maintenance costs for properties with a LA freeholder is true. You only have to read some of the posts on here to realise that.

nLdn

Thanks very much. I might nudge you for some specific Qs over the next few days.

t0rt0ise

I live in Camden, just on the border of Islington. Depends which part you are moving to, I live south of the borough, but I know the area around Angel.

theGrinch

t0rt0ise wrote: »

I live in Camden, just on the border of Islington. Depends which part you are moving to, I live south of the borough, but I know the area around Angel.

Is it possible get houses in NW1 or N1 with decent gardens >40 ft under £1.2m? I assume you are looking north of camden itself towards Kentish Town or N5

katiekatz

I live in islington, Highbury What do you want to know?