Nearly £60k down-valuation by lender

MobileSaver

Crashy_Time said:

property with "features" that any renter can get! Finding a random nearly derelict flat above a shop in a well to do area miles out of Edinburgh or an ex-council house in the middle of Fife won`t solve the problem!

I think you are and have been wrong for years for all the reasons previously given.

Regardless, despite your protestations, the "problem" can be solved in one of two ways:

1. Someone who genuinely wants basic shelter at a cheap price can easily buy one of the aforementioned properties without breaking the bank, or alternatively
2. Someone who wants "all the features that any renter can get" but without paying the premium price for those features can of course do what you are doing and simply rent and pay their landlord's mortgage instead of their own for the rest of their lives.

Either way, problem solved.

Crashy_Time

MobileSaver said:

Crashy_Time said:

property with "features" that any renter can get! Finding a random nearly derelict flat above a shop in a well to do area miles out of Edinburgh or an ex-council house in the middle of Fife won`t solve the problem!

I think you are and have been wrong for years for all the reasons previously given.

Regardless, despite your protestations, the "problem" can be solved in one of two ways:

1. Someone who genuinely wants basic shelter at a cheap price can easily buy one of the aforementioned properties without breaking the bank, or alternatively
2. Someone who wants "all the features that any renter can get" but without paying the premium price for those features can of course do what you are doing and simply rent and pay their landlord's mortgage instead of their own for the rest of their lives.

Either way, problem solved.

Or  3)  A bank comes along and values then says "Sorry, your house is worth 60k (or 100k, or 160k) less than you hoped, sorry. Problem solved! (or starting to be)

MobileSaver

Crashy_Time said:

MobileSaver said:

Regardless, despite your protestations, the "problem" can be solved in one of two ways:

1. Someone who genuinely wants basic shelter at a cheap price can easily buy one of the aforementioned properties without breaking the bank, or alternatively
2. Someone who wants "all the features that any renter can get" but without paying the premium price for those features can of course do what you are doing and simply rent and pay their landlord's mortgage instead of their own for the rest of their lives.

Or  3)  A bank comes along and values then says "Sorry, your house is worth 60k (or 100k, or 160k) less than you hoped, sorry. Problem solved! (or starting to be)

It's good to see you have finally seen the light and don't dispute that 1) cheap basic shelter is available and 2) fancier properties can be rented if people can't afford to buy. So win/win and everyone is happy.

I'm not convinced that your "millions of keyworkers/FTB`ers/ Ordinary hardworking people" are looking at properties with asking prices of £705,000 that are then downvalued by £60k but then I'm not convinced by many of your arguments.

MobileSaver

AdrianC said:

Salemicus said:

I am just jealous that you can get 341 sq m for £851k. Whereabouts is this?

How about 400m2 for £825k?
https://www.rightmove.co.uk/properties/80180215#/

Go up to £900k, and you can get 400m2 AND grade II listed, with three acres...
https://www.rightmove.co.uk/properties/104613554#/

Why would anyone buy poky little places like those when you can cross over the border into Wales and pick up 579m2 for £600k which includes a rather impressive main staircase and 2 acres of land?

That's what I did anyway!

Crashy_Time

MobileSaver said:

Crashy_Time said:

MobileSaver said:

Regardless, despite your protestations, the "problem" can be solved in one of two ways:

1. Someone who genuinely wants basic shelter at a cheap price can easily buy one of the aforementioned properties without breaking the bank, or alternatively
2. Someone who wants "all the features that any renter can get" but without paying the premium price for those features can of course do what you are doing and simply rent and pay their landlord's mortgage instead of their own for the rest of their lives.

Or  3)  A bank comes along and values then says "Sorry, your house is worth 60k (or 100k, or 160k) less than you hoped, sorry. Problem solved! (or starting to be)

It's good to see you have finally seen the light and don't dispute that 1) cheap basic shelter is available and 2) fancier properties can be rented if people can't afford to buy. So win/win and everyone is happy.

I'm not convinced that your "millions of keyworkers/FTB`ers/ Ordinary hardworking people" are looking at properties with asking prices of £705,000 that are then downvalued by £60k but then I'm not convinced by many of your arguments.

No, many in London for example are looking at 500k ex-council flats or "executive" rabbit hutch type properties that should be down valued by a lot more. LOL (although it isn`t really funny) Most UK property is "basic shelter", that is the point that you don`t (or won`t?) accept.

Crashy_Time

MobileSaver said:

AdrianC said:

Salemicus said:

I am just jealous that you can get 341 sq m for £851k. Whereabouts is this?

How about 400m2 for £825k?
https://www.rightmove.co.uk/properties/80180215#/

Go up to £900k, and you can get 400m2 AND grade II listed, with three acres...
https://www.rightmove.co.uk/properties/104613554#/

Why would anyone buy poky little places like those when you can cross over the border into Wales and pick up 579m2 for £600k which includes a rather impressive main staircase and 2 acres of land?

That's what I did anyway!

Not bad, but the presentation is too cluttered, the decking looks old and worn out, and the front door looks like the type people put on council houses when they buy them, plus there are neighbours nearby which would defeat the purpose of going rural for me.

MobileSaver

Crashy_Time said:

MobileSaver said:

Why would anyone buy poky little places like those when you can cross over the border into Wales and pick up 579m2 for £600k which includes a rather impressive main staircase and 2 acres of land?

plus there are neighbours nearby which would defeat the purpose of going rural for me.

We don't agree on much but I'm with you on this; if you can see your neighbour's house from any of your own windows then that's a deal-breaker for me.

Crashy_Time

There you go, agreement at last.

Crashy_Time

Wonder if the OP will ever come back?

Crashy_Time

MobileSaver said:

Crashy_Time said:

MobileSaver said:

Regardless, despite your protestations, the "problem" can be solved in one of two ways:

1. Someone who genuinely wants basic shelter at a cheap price can easily buy one of the aforementioned properties without breaking the bank, or alternatively
2. Someone who wants "all the features that any renter can get" but without paying the premium price for those features can of course do what you are doing and simply rent and pay their landlord's mortgage instead of their own for the rest of their lives.

Or  3)  A bank comes along and values then says "Sorry, your house is worth 60k (or 100k, or 160k) less than you hoped, sorry. Problem solved! (or starting to be)

It's good to see you have finally seen the light and don't dispute that 1) cheap basic shelter is available and 2) fancier properties can be rented if people can't afford to buy. So win/win and everyone is happy.

I'm not convinced that your "millions of keyworkers/FTB`ers/ Ordinary hardworking people" are looking at properties with asking prices of £705,000 that are then downvalued by £60k but then I'm not convinced by many of your arguments.

The valuation takes the price to 105k below the sellers original asking price, but yes FTB are not looking here, we agree again!