We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Live/work unit flat in stratford london
jemball
Posts: 88 Forumite
Our son is considering buying a flat designated as a 'Live-work unit flat'. The price seems to be well below the average for the area and the agent advises that only Nationwide will currently give mortgages. This makes us quite apprehensive about its eventual resale potential.
I would greatly appreciate hearing from anyone who has any experience of such properties or the dangers in buying such a flat?
I would greatly appreciate hearing from anyone who has any experience of such properties or the dangers in buying such a flat?
0
Comments
-
Is your son attracted by (and intending to comply with) the "life-work" designation? Or just the price?
There have been previous threads here if you have a search (one last week I think).0 -
Is your son attracted by (and intending to comply with) the "life-work" designation? Or just the price?
There have been previous threads here if you have a search (one last week I think).
Just the price. He intends to use it as a residence only. Thanks for the info re the previous threads.
Best regards, John0 -
After a bit of research he does now, so thanks for your help.
He advised the estate agent to clearly state that this is a live/work flat when dealing with future clients. Some hopes?!
Best regards,
John0 -
Our son is considering buying a flat designated as a 'Live-work unit flat'. The price seems to be well below the average for the area and the agent advises that only Nationwide will currently give mortgages. This makes us quite apprehensive about its eventual resale potential.
I would greatly appreciate hearing from anyone who has any experience of such properties or the dangers in buying such a flat?
What's a 'live-work' unit?EU expat working in London0 -
A developer obtains planning permission to build or convert a building into flats which must be used both as places of work and as residences. Normally the working area of the flat will be taxed commercially and the living area will attract council tax.
Residents are obliged to honour the conditions of the planning approval and should not use the flats purely as residences.
There are other issues involved such as VAT , capital gains tax, inheritance tax etc.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards