gbacon85 Posted July 21, 2015 Share Posted July 21, 2015 I don't see the value in shared ownership, but we won't get into all that now, it's been covered. Â But that is a great spot for something seeing as we all know how much investment the area is getting. Look at what's happened to Angel and Islington. 10 years ago an absolute shit hole, now one of these "vibrant, up and coming shit holes" Â Good luck Link to comment Share on other sites More sharing options...
Paid Members SpursRiot2012 Posted July 21, 2015 Paid Members Share Posted July 21, 2015 I don't see the value in shared ownership, but we won't get into all that now, it's been covered.  But that is a great spot for something seeing as we all know how much investment the area is getting. Look at what's happened to Angel and Islington. 10 years ago an absolute shit hole, now one of these "vibrant, up and coming shit holes"  Good luck  To me the value is pretty clear. I can continue to sink £1200 a month into renting somewhere that's liveable, which isn't any kind of investment as you see no return on that money. It's just gone. With this, we own half the property and the £500-odd quid we're spending on rent goes towards purchasing more of the property. And on top of that, given where the place is, I could easily see us being able to sell our share in 3-5 years for a handsome profit, meanwhile we've been saving that other £500 we weren't spending on rent to put to it, my credit rating has cleared up and suddenly we can GTFO of London and buy a nice three bedroom house somewhere green.   That's not fifteen minutes' walk from where I live. Not bad going price-wise, considering the direction the area's going. Was helping a mate locate a property in the area, and the cheapest I could find was £210K for a studio above a bookies on the high street (Green Lanes).  We live on Langham Road at the moment. We're not moving far.  And, yeah, the prices to buy anywhere outright are just head shaking. Unless I wanted to move to Ilford or somewhere like that, we were pretty stuck. Link to comment Share on other sites More sharing options...
gbacon85 Posted July 21, 2015 Share Posted July 21, 2015 Yeah, I'm not having a go, I really do mean good luck, but in my time working in pub sec at the start of the shared ownership boom, I've seen my fair share of freehold, leasehold nightmare clusterfucks that's all. Â I'm sure you would've done all the research you can, and if you want to live in London (personally I think everyone that does live there is mental ) then I can see that being the only viable option. Link to comment Share on other sites More sharing options...
Paid Members SpursRiot2012 Posted July 21, 2015 Paid Members Share Posted July 21, 2015 Nah, I didn't think you were! I think it's a good way onto the property ladder. Not sure how good it is if you've got to get a mortgage to pay for the share. But certainly as cash buyers it's good for us.  I have to stay in London for the meantime. My partner goes to uni in Holloway, I'll be at uni in Russell Square. It's not feasible right now to move out. Neither of us can drive. I'm planning to have my driving licence by next summer, then moving out can be a bit more realistic. I couldn't believe what you could get for £250,000 outside of London. Link to comment Share on other sites More sharing options...
gbacon85 Posted July 21, 2015 Share Posted July 21, 2015 Depends where. For instance I live in Weybridge and the 2 bed terraced house two doors from us went on the market for £325,000, insane!!! The only difference from ours is they have a tiny conservatory.  Bit of a thick question, but if you're cash buyers, wouldn't you be better off whacking that down on s huge payment on a mortgage? Link to comment Share on other sites More sharing options...
Paid Members SpursRiot2012 Posted July 21, 2015 Paid Members Share Posted July 21, 2015 Can't get a mortgage. My credit is shot to shit. We called Halifax to try and get a £50,000 mortgage to buy a two bed, two garden shared ownership place near Hornsey and my girlfriend passed all the credit checks, but she doesn't earn enough by herself to get it. Link to comment Share on other sites More sharing options...
gbacon85 Posted July 21, 2015 Share Posted July 21, 2015 Right, so where have you got £130,000 cash, Hatton Garden? Link to comment Share on other sites More sharing options...
Paid Members SpursRiot2012 Posted July 21, 2015 Paid Members Share Posted July 21, 2015 Been moving weight.  Nah, my partner's mum sold the family home and split the proceeds between her and her sister. We've actually got £150,000 so we'll have cash for emergencies and furniture and stuff. Very lucky. Link to comment Share on other sites More sharing options...
gbacon85 Posted July 21, 2015 Share Posted July 21, 2015 Wow, that's really nice. I am terrible with this sort of thing, my wife sorts everything but I was under the impression that you more you could put down on a home/mortgage, the less you would pay back monthly. Is this not correct?  Because with essentially a £130,000 deposit, your potential repayment would be fairly low? Link to comment Share on other sites More sharing options...
Paid Members SpursRiot2012 Posted July 21, 2015 Paid Members Share Posted July 21, 2015 Yeah, that's correct, but with shared ownership you're paying the rent and service charge as well. Her income is small, she only works part time. So, the monthly mortgage payments would have been fine but the rent added on would have been too much (in their opinion). Link to comment Share on other sites More sharing options...
Paid Members Bellenda Carlisle Posted July 21, 2015 Paid Members Share Posted July 21, 2015 Is there a decent email/webmail service that doesn't collect your information and stuff like Gmail does? I just put an address in Google maps and it somehow knew I was going there tomorrow and it was a bit too big brother for me. Link to comment Share on other sites More sharing options...
Awards Moderator Onyx2 Posted July 21, 2015 Awards Moderator Share Posted July 21, 2015 Is there a decent email/webmail service that doesn't collect your information and stuff like Gmail does? I just put an address in Google maps and it somehow knew I was going there tomorrow and it was a bit too big brother for me.It's difficult to get something for nothing. Want free email, maps, storage? The fee is giving Google this data. Â You can opt out of some of this https://support.google.com/mail/answer/6603?hl=en but not Gmail "snooping". Â Personally I've reconciled that a decent service is worth the payoff. Â Edit: I wondered whether DuckDuckGo did email. They don't but do recommend some secure providers https://duck.co/help/features/email Link to comment Share on other sites More sharing options...
Paid Members bAzTNM#1 Posted July 22, 2015 Paid Members Share Posted July 22, 2015 If you're putting in an address, it's just guessing that you're going there tomorrow. It happens with me too. Link to comment Share on other sites More sharing options...
Awards Moderator Onyx2 Posted July 22, 2015 Awards Moderator Share Posted July 22, 2015 If you're putting in an address, it's just guessing that you're going there tomorrow. It happens with me too. No. Google uses all it knows about you to connect services together. Link to comment Share on other sites More sharing options...
King Pitcos Posted July 22, 2015 Share Posted July 22, 2015 If you rent a flat and it's not on Royal Mail's address system, does that mean it isn't registered as an address with the council and thus no council tax? Link to comment Share on other sites More sharing options...
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