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Help please - what to set as limit at auction? - Page 2

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Help please - what to set as limit at auction?

edited 19 October 2019 at 10:06PM in House Buying, Renting & Selling
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  • SimbySimby Forumite
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    If you are worried about getting carried away at the auction, you could employ a representative to bid for you.
  • CakegutsCakeguts Forumite
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    The first one says under offer in the details. What worries me more though is that they are near London South Bank University which is a really terrible university. It is one of the 11 or so duds in London that could do with being closed. If your daughter is at South Bank then buying a flat for her to live in is a really bad idea because she is going to need practice at paying rent in London because of the likely job situation after a degree from somewhere like South Bank University.



    If she isn't studying there then she would be better off living nearer to the university she is studying at so that she gets to see her friends and isn't stuck in a flat somewhere on her own.
  • davidmcndavidmcn Forumite
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    kinger101 wrote: »
    It's not necessary a case of preference. Most students have no option but to share ask one bedroom properties are out of their budget.
    Yes, it's more "students will put up with sharing if mummy and daddy don't have a spare quarter million in cash for a London residence just for them".
  • CakegutsCakeguts Forumite
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    kinger101 wrote: »
    It's not necessary a case of preference. Most students have no option but to share ask one bedroom properties are out of their budget.


    Yes but in this case the parents have the option of helping out a bit with the rent. I live in London and there are around 11 universities that offer the level of degree that is so low in standard that the students who get them are never going to earn enough to live in London. Some apprenticeships pay more for jobs than you are going to get with these degrees. The unfortunate problem is that they are in the most expensive part of the country so learning how much it costs to live in London is part of the education.
  • G_MG_M Forumite
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    University can be a lonely place for some people, and sharing is part of the experience, as well as resolving that potential loneliness problem. but if she is naturally gregarious and has lots of friends it may not be a problem.


    As for the auction, the big question is why is the seller selling that way? Just in a hurry to sell? Or is there a problem with the flat,or the block?
    ** If I include a blue link in my post, click and read it before posting a follow-up question. The answer may be in the link! **
  • kinger101kinger101 Forumite
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    Cakeguts wrote: »
    The first one says under offer in the details. What worries me more though is that they are near London South Bank University which is a really terrible university. It is one of the 11 or so duds in London that could do with being closed. If your daughter is at South Bank then buying a flat for her to live in is a really bad idea because she is going to need practice at paying rent in London because of the likely job situation after a degree from somewhere like South Bank University.

    If she isn't studying there then she would be better off living nearer to the university she is studying at so that she gets to see her friends and isn't stuck in a flat somewhere on her own.

    It's not Oxford or even Russell group but....

    https://www.lsbu.ac.uk/about-us/news/university-graduate-employment-2019

    The ones that tend to struggle with graduate employment are probably those who've done non-vocational courses (e.g., history) at a not-so-prestigious university, and engaged in no extra-curricular activities.
    "Real knowledge is to know the extent of one's ignorance" - Confucius
  • CakegutsCakeguts Forumite
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    kinger101 wrote: »
    It's not Oxford or even Russell group but....

    https://www.lsbu.ac.uk/about-us/news/university-graduate-employment-2019

    The ones that tend to struggle with graduate employment are probably those who've done non-vocational courses (e.g., history) at a not-so-prestigious university, and engaged in no extra-curricular activities.


    That doesn't mean anything. The jobs could all be in bars and restaurants paying minimum wage. The problem in London isn't getting a job. There are lots of jobs but not all of them pay enough for people to live there with a decent life style especially single people. If you go to a top university and get a really good degree you are likely to get the kind of job that pays enough for you to live in London. This university is likely to get you the kind of job that you can only do if you continue to live with your parents. The problem I have with all of the 11 duds is that they tend to get students from other parts of the country who have no concept of just how expensive it is to live in London and of course because this kind of university is the best they can do they often don't do any research beforehand to see how much it will cost and what sort of employment they can get.



    If someone who goes to somewhere like this university went to a simlar standard one in a cheaper part of the country they wouldn't have so much of a problem because they could network in that cheaper area and of course the minimum wage jobs have more spending power outside London. You just have to put yourself in the situation of having got a degree from somewhere like this when your parents don't live locally. You are going to have to move back home to your parents house and then try to get a job in the area of the country that you came from where the local students have all done their networking.



    It just isn't worth attending these universities unless you live locally and even then they would do just as well in minimum wage jobs if they were technical colleges and free to local people. There is no advantage to anyone except the staff in them being universities.
  • edited 20 October 2019 at 2:27PM
    kinger101kinger101 Forumite
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    edited 20 October 2019 at 2:27PM
    Cakeguts wrote: »
    That doesn't mean anything. The jobs could all be in bars and restaurants paying minimum wage. The problem in London isn't getting a job.

    I've not dug into the underlying figures but the article does state:

    "LSBU wins this award, having jumped into the top four for graduate prospects nationally, with nearly 89 per cent of graduates in professional graduate-level jobs or further study six months after graduation."

    "Median LSBU graduate salaries start at £26,000, which is among the highest in the country."

    I suspect they've not standardized this data by type of entrant (mature, postgraduate, international) but the fact is while it's not somewhere the most academically able might choose, it does offer a high proportion of vocational courses which will improve the prospects of those undertaking the course. This is what is likely being reflected in the stats.

    Not everyone can get 3 or 4 good A-levels, but it doesn't mean there shouldn't be opportunities for them to continue education and gain skills valued by employers.
    "Real knowledge is to know the extent of one's ignorance" - Confucius
  • mark55manmark55man Forumite
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    I suspect there is a teacher/school perspective here, and their capability to play ranking table games stressing that its important to get a number of places up the university ranking ladder (don't choose no 100 in the ranking ladder when you could get to #96) is laughable to those who actually employ undergraduates.

    And is usually buried in preconceptions from when they themselves were at University and not evidence based on current results.

    So I have a lot of respect for teachers,but not on this topic
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  • Enm1Enm1 Forumite
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    Cakeguts wrote: »
    The first one says under offer in the details. What worries me more though is that they are near London South Bank University which is a really terrible university. It is one of the 11 or so duds in London that could do with being closed. If your daughter is at South Bank then buying a flat for her to live in is a really bad idea because she is going to need practice at paying rent in London because of the likely job situation after a degree from somewhere like South Bank University.



    If she isn't studying there then she would be better off living nearer to the university she is studying at so that she gets to see her friends and isn't stuck in a flat somewhere on her own.


    Thanks Cakeguts - she will be going between Guys (London Bridge) and Kings (Camberwell) hospitals for her studies for the next 5/6 years. I understand a number of students on the same course also live in the same block as it has a 24hr reception so is perceived as 'safer' than other blocks as well as being perfect for travelling.
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