Had to reduce price to 2003 level!!

dopester

£172,000 or even now £159,995.

1 bedroom box for mad-money in a development building which looks like the torture place from the film "Hostel".

3under3

Hi Neas, when did I admit to being greedy? I said a cheeky price (suggested by EA on the basis that two other properties of similar size in the building were up for that amount). One has since sold and one is still up for near enough the same price - at least we're trying to find the market value rather than stick our heads in the sand. Flat is probably aimed at a couple or FTB, we lived there with our first child, as do the couple next door. Our first tenants lived there with 2 children! Like I said, each to their own. The property is not everyone's cup of tea but it'd be pretty boring if we all liked the same!!

3under3

Thanks for removing the pic dopester. The place is an old boiler house which was part of the original hospital. In the old days children used to think that the bodies were burned there so maybe you're not too far off!

PasturesNew

poppy10 wrote: »

butt-ugly.

I SO have problems calling a spade a spade, in order to avoid upsetting people ... thank you for doing it

silvercar

3under3 wrote: »

Thanks for removing the pic dopester. The place is an old boiler house which was part of the original hospital. In the old days children used to think that the bodies were burned there so maybe you're not too far off!

I don't think that story will increase the chances of a sale!

I would take the picture of the outside off rightmove, it doesn't do you any favours.

PasturesNew

ziknik wrote: »

I use the BBC mortgage calculator for my house affordability checks. I assume an interest rate of 8% and then check I can make the repayments at 12% interest.

Blimey, I thought I was reading one of my own posts there!

I've always used the BBC mortgage calculator - and that 12% figure has always been there and always put the fear of God into me....

Yes, traditionally 8% was ALWAYS the average interest rate payable on a mortgage. How quickly people's expectations got set so much lower!

Long-term averages for house price increases were remembered ... but nobody seems to remember the average for interest rates!

PasturesNew

3under3 wrote: »

In the old days children used to think that the bodies were burned there so maybe you're not too far off!

And now those children are grown up and looking for somewhere to live ... or their friends are and they're sharing these old stories with them.

I know I would.

RichC1

If you're asking 160k for it, then that translates into monthly payments of at least 800 a month on an interest only mortgage, assuming an FTB could find something at 6%, which is becoming increasingly unlikely. At the same time, though, you're asking 650 a month to rent it. Why would anyone in their right mind pay 150 pounds more a month in order to bear the costs of falling capital values, in addition to the cost of maintenance and the monthly service charge. With recent news on inflation, it's not like interest rates are going to be coming down and just about no one believes that prices are going to rise significantly any time soon. You've got a problem.

3under3

Well the story didn't put me off PasturesNew, but I was impressed by that big chimney that father christmas can come down!!

hostman

3under3 wrote: »

Well the story didn't put me off PasturesNew, but I was impressed by that big chimney that father christmas can come down!!

Yeah, but, you're missing something: You're a bit special.

It IS overpriced. Its going to cost over £1000 to mortgage that place and pay the service charges, that's if you can secure a mortgage. You'll need 10% up front and a very good wage in order to do so.

I wouldn't bring a kid up in a place that. Looks like something Hitler would build at Auschwitz.

If you want to sell it, put it on for £110k. IMO its still overpriced even that price. Its real value should only be around the 60k mark, if you factor in affordability.