Property crash, just maybe it really is different this time

[MrXxxx]

5 hours ago, belfastchild said:

Inside pictures are up for anyone interested.

No fucking way am I going to look at that for family. Roof leaking, mould, laminate flooring buckled, paper peeling off walls, carpet tore out, its a timber framed house, its probably fucked internally.

What would you do with something like this; I am assuming you don't bother 'patching up' as the things you mention are more than 'skin deep'?...would you re-roof and then gut back to bare walls/studding or would you knock down to the foundations and rebuild?...although @JoeDavolais saying you are buying a building plot, it more than this as knocking down/rebuilding doesn't have to go through full planning permission does it [assuming you are replacing 'like with like']?

[MrXxxx]

2 hours ago, Option5 said:

It's a serviced plot, knock it down and build your forever home 🤣

In seriousness, what % of a properties worth would a services plot i.e. services and foundation be worth?...note, I am not planning to relocate to Ireland, just interested.

[belfastchild]

5 minutes ago, MrXxxx said:

What would you do with something like this; I am assuming you don't bother 'patching up' as the things you mention are more than 'skin deep'?...would you re-roof and then gut back to bare walls/studding or would you knock down to the foundations and rebuild?...although @JoeDavolais saying you are buying a building plot, it more than this as knocking down/rebuilding doesn't have to go through full planning permission does it [assuming you are replacing 'like with like']?

Id heard about a developer buying a house on that street with a view of turning it into 6 apartments but there wasnt enough room for parking on the plot for 6 cars and they failed to buy the house next door.

Im not saying it was the same one but it certainly looks like it. House looks like it was left to rot (despite a decent extension).

It might not be that one but my uncle has a similar house, any decent survey would just mention its a timber framed house with signs of damp and in an ideal world that would be the end of it from a mortgage point of view.

You would probably have to take all the plasterboard off walls and ceiling to check how much damp there is, and if you find any you are probably screwed in terms of expense. It was probably something that could have been fixed relatively easily a while ago. Neighbours said it was like that for a few years so....

Ive no idea what the rebuild costs would be in todays market, you would need to get it for a hell of a lot cheaper than that as thats close to the current ceiling price for the area as it is. All the houses are bungalows so dont know what the 'developer' or anyone buying would be thinking in trying to get permission for something other than whats already there. Better off buying a plot a few miles out and build the house you want for less money.

 

[belfastchild]

3 hours ago, Option5 said:

It's a serviced plot, knock it down and build your forever home 🤣

Let it fall down and use it for parking for my vehicles ;-)

[nirvana]

19 minutes ago, MrXxxx said:

In seriousness, what % of a properties worth would a services plot i.e. services and foundation be worth?...note, I am not planning to relocate to Ireland, just interested.

interesting question, in france you used to be able to buy a really nice plot in the countryside for about €12/square meter ie all proper plot with sewerage, water, leccy newly laid....in fact I nearly bought one years ago but came a cropper on the planning permission (needed to be eco friendly and I couldn't find anyone to help get approval)

be interesting to see values for the UK, probs bloody crazy.....that bungalow looks fukked, roof been leaking, from the chimney area for one.... you can get away with that in frogland with stone and oak, not sure you'd be so lucky with shitty bricks and softwood.......my pad in france has a wonky roof, the oak timbers sagged, it doesn't bother me though cos it doesn't leak....some days I think I should get some quotes then I decide to go for a bike ride or such

[Shamone]

6 hours ago, belfastchild said:

Inside pictures are up for anyone interested.

No fucking way am I going to look at that for family. Roof leaking, mould, laminate flooring buckled, paper peeling off walls, carpet tore out, its a timber framed house, its probably fucked internally.

Why is it so fucked? Is timber frame dodgy as? I’ve never liked them.

[Guest]

3 hours ago, spygirl said:

Call to help 'mortgage prisoners' trapped on high interest rates

https://www.bbc.co.uk/news/business-64813930

Some 200,000 mortgages were sold to firms which cannot offer new deals. Many homeowners are stuck on high rates as other lenders will not accept them.

The founder of the MoneySavingExpert website is calling on the government to free so-called "mortgage prisoners".

Err theyve had 10y of low IRs to ge tthe mrotgage paid dwn or the house sold.

Samantha has been stuck with her mortgage since the 2008 financial crisis. She told the BBC her payments, which were £546 a month last year, are due to rise to £952 next month.

..

Samantha got a mortgage on her two-bedroom terraced house with her ex-husband in 1998, and re-mortgaged with Northern Rock two decades ago.

 

Di she icnrease the size of the mortgage?

Im askign as 98 was 26years ago. That mortgage shold have been longed paid off.

Samantha, who works as an office manager in Swindon, has an interest-only mortgage on £150,000.

Ahh.

Shes had 20y to pay down that loan.  And very low interest rates.

Just paying ~4k/y (300/m) off over the last 15y would have got the mortgage down to  80k, when should got have easily remortaged.

What the fuck has she been doign?

 

 

 

A 2 bed terraced house in Swindon would have cost what in 1998? £60k? So why does she have a £150k interest-only mortgage? Cost of buying out the ex-husband when they split up?

Also even with a mortgage that size she is surely not in negative equity given current Swindon house prices. If she wants out of her "prison" she only has to sell up.

Edited March 2, 2023 by Guest

[belfastchild]

34 minutes ago, Shamone said:

Why is it so fucked? Is timber frame dodgy as? I’ve never liked them.

I dont mind them. Worked a bit on my uncles house, great for moving or adding extra sockets, running data and satellite cables behind walls etc.
Its just the damp/wet thing, cant let that get into the wood and let it soak up. If its behind the plasterboard etc you could have that pop and come off etc when it properly dries out. If the wood warps behind it, could make a complete balls trying to reattach new plasterboard or the like.

[Shamone]

4 minutes ago, belfastchild said:

I dont mind them. Worked a bit on my uncles house, great for moving or adding extra sockets, running data and satellite cables behind walls etc.
Its just the damp/wet thing, cant let that get into the wood and let it soak up. If its behind the plasterboard etc you could have that pop and come off etc when it properly dries out. If the wood warps behind it, could make a complete balls trying to reattach new plasterboard or the like.

I’ve heard some dodgy stories about problems if you pierce the vapour barrier. Have been watching some go up near me. They just seem very insubstantial, apparently the frames are only guaranteed for 30 years (the length of a mortgage, coincidentally). And if the timber is cut at all on site it should be retreated. The UK is damp pretty much 10 months a year. I just don’t trust them. The roof trusses looked like matchsticks.

[belfastchild]

5 minutes ago, Shamone said:

I’ve heard some dodgy stories about problems if you pierce the vapour barrier. Have been watching some go up near me. They just seem very insubstantial, apparently the frames are only guaranteed for 30 years (the length of a mortgage, coincidentally). And if the timber is cut at all on site it should be retreated. The UK is damp pretty much 10 months a year. I just don’t trust them. The roof trusses looked like matchsticks.

Would trust any of the newbuilds etc.
The one in that ad is probably around 40 years old and as you say would depend how the extension was attached with respect to vapour barriers and cutting the previous frame. Any damp at all in there would be a nightmare and probably down the line!

[MrXxxx]

2 hours ago, belfastchild said:

Would trust any of the newbuilds etc.
The one in that ad is probably around 40 years old and as you say would depend how the extension was attached with respect to vapour barriers and cutting the previous frame. Any damp at all in there would be a nightmare and probably down the line!

But aren't a lot of Northern latitude properties specifically made with wooden frames [I assume for their insulation/lack of cold spot issues]? i.e. Scandinavia, Canada, Scotland?

[nirvana]

10 minutes ago, MrXxxx said:

But aren't a lot of Northern latitude properties specifically made with wooden frames [I assume for their insulation/lack of cold spot issues]? i.e. Scandinavia, Canada, Scotland?

there is a POV that houses should be built with a view to 'making them breathe'......personally I think most UK houses look pretty shite AND are built pretty shite too.......in the olden days they were clueless too ie my place is built with some gorgeous stone but the french idiots rendered it...the walls are half a meter thick but the poor thing can't breathe....the stone needs re-rendering with lime mortar.....it's a massive time consuming job though.....

you can build houses with wood fine and do stuff like hemp walls mixed with clay, it's become popular in france in recent years....

the problem is 'big corp' has tried to kill hemp, you can make plastic and all sorts from it and create a more sustainable world.....that's not good for the neocons though eh?

[onlyme]

3 hours ago, nirvana said:

interesting question, in france you used to be able to buy a really nice plot in the countryside for about €12/square meter ie all proper plot with sewerage, water, leccy newly laid....in fact I nearly bought one years ago but came a cropper on the planning permission (needed to be eco friendly and I couldn't find anyone to help get approval)

be interesting to see values for the UK, probs bloody crazy.....that bungalow looks fukked, roof been leaking, from the chimney area for one.... you can get away with that in frogland with stone and oak, not sure you'd be so lucky with shitty bricks and softwood.......my pad in france has a wonky roof, the oak timbers sagged, it doesn't bother me though cos it doesn't leak....some days I think I should get some quotes then I decide to go for a bike ride or such

I've seen the sort of plots in Brittany, seemed like a great way to go about things, they had a site plan with the various plots laid out and example building designs to pick from if you wanted to match the two, reasonably priced as well.

[nirvana]

here's a beauty https://hempstone.net/goshenhemphouse

[onlyme]

2 minutes ago, nirvana said:

there is a POV that houses should be built with a view to 'making them breathe'......personally I think most UK houses look pretty shite AND are built pretty shite too.......in the olden days they were clueless too ie my place is built with some gorgeous stone but the french idiots rendered it...the walls are half a meter thick but the poor thing can't breathe....the stone needs re-rendering with lime mortar.....it's a massive time consuming job though.....

you can build houses with wood fine and do stuff like hemp walls mixed with clay, it's become popular in france in recent years....

the problem is 'big corp' has tried to kill hemp, you can make plastic and all sorts from it and create a more sustainable world.....that's not good for the neocons though eh?

Again in Brittany it is amazing what will actually stay up - pise - the puddled clay walls, not much sign of any hero, a few rocks,  I believe they just shuttered a section of about a metre, rammed the clay in and once the had dried out moved the shuttering up and added another layer. On the older more original houses you can see the slightly different layers / mixes / colouration., afterwards I thin a lot of them had been rendered as eventually water does get to the or the walls start spalling. Key to them working in such a wet environment are significant overhangs at the roofline, anything but horizontal driving rain largely stays off the walls.

[HousePriceMania]

6 hours ago, nirvana said:

@HousePriceMania if this you bruv? good post lmao

 

Yes, thanks 

[nirvana]

@MrXxxxhere's another beauty, hemp is chanvre in french

 

[nirvana]

5 minutes ago, onlyme said:

Again in Brittany it is amazing what will actually stay up - pise - the puddled clay walls, not much sign of any hero, a few rocks,  I believe they just shuttered a section of about a metre, rammed the clay in and once the had dried out moved the shuttering up and added another layer. On the older more original houses you can see the slightly different layers / mixes / colouration., afterwards I thin a lot of them had been rendered as eventually water does get to the or the walls start spalling. Key to them working in such a wet environment are significant overhangs at the roofline, anything but horizontal driving rain largely stays off the walls.

aye, I wish I had more experience building like that, even knew about it before I left my homeland and lived in a foreign cuntry.......what a world eh lol.......a mate of mine was building a small house with traditional techniques but we fell out when he took a load of my dope and instead of producing some biscuits like he said he would, the greedy cunt smoked it all.....so i haven't been around to see the finished product  maybe I should build bridges......out of hemp eh?

[roundhouse]

Cornwall today, someone is selling off a holiday let business, I guess.

Most days about 5-8 listed, today I counted 50 lodges/caravans on RM, the majority with SellMyGroup (seems to be a dedicated hol lodge agent). 
Upton Towans, Newquay, Praa Sands, Bude

https://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION^61294&sortType=1&propertyTypes=&maxDaysSinceAdded=1&includeSSTC=true&mustHave=&dontShow=&furnishTypes=&keywords=

link should start at low end of price range. 
 

Here,s hoping many hol lets that could be real homes again are also going up for sale!

[Wight Flight]

54 minutes ago, roundhouse said:

Cornwall today, someone is selling off a holiday let business, I guess.

Most days about 5-8 listed, today I counted 50 lodges/caravans on RM, the majority with SellMyGroup (seems to be a dedicated hol lodge agent). 
Upton Towans, Newquay, Praa Sands, Bude

https://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION^61294&sortType=1&propertyTypes=&maxDaysSinceAdded=1&includeSSTC=true&mustHave=&dontShow=&furnishTypes=&keywords=

link should start at low end of price range. 
 

Here,s hoping many hol lets that could be real homes again are also going up for sale!

Fuck me the sooner they get chatgbt writing the descriptions the better.

I feel slightly ill...

Quote

The Oakley is designed to bring the outside in, with its beautifully large windows, you can watch the world go by from the comfort of the very inviting L shaped sofa.This pre-loved A.B.I Oakley is a luxurious home from home, a bright and spacious living are promises to help you relax and get in the holiday mood. The conveniently sized walkthroughkitchen is smart, light with a lovely wood finish, and has anything you could possibly need to cook those hearty home dinners. Theres even a dining table ready to go, for those priceless meal times all together. The smart, airy and light theme continues through to the decently sized family bathroom and bedrooms. With a double and twin room, as well as the pull out bed in the lounge, the A.B.I Oakley sleeps up to six people! Certainly comfortable, great value and would quickly become a home from home.Newquay Bay where the surf is only minutes away!

 

[belfastchild]

9 hours ago, MrXxxx said:

But aren't a lot of Northern latitude properties specifically made with wooden frames [I assume for their insulation/lack of cold spot issues]? i.e. Scandinavia, Canada, Scotland?

Pretty much every place I stayed in in Canada was wooden framed, most of them in Norway as well.
Add southern Chile/Argentina to that as well.
Id have no problem with a timber framed house, just know a full survey will go round with a damp meter checking the plasterboard etc.

Just depends on the quality of the build I suppose. I did some work with a company producing houses from sip framing over a decade ago. Didnt hear much about it afterwards, company doesnt exist any more.

[nirvana]

1 hour ago, belfastchild said:

just know a full survey will go round with a damp meter checking the plasterboard etc.

that means nowt, I sold a bungalow for close to half a million and the survey (he went for full on bells and whistles) failed to pick up the plasterboard in the study was damp cos the bathroom shower had been leaking.........fukkin clown world innit bruv?

[Covid19 and life to go]

13 hours ago, Darude said:

A 2 bed terraced house in Swindon would have cost what in 1998? £60k? So why does she have a £150k interest-only mortgage? Cost of buying out the ex-husband when they split up?

Also even with a mortgage that size she is surely not in negative equity given current Swindon house prices. If she wants out of her "prison" she only has to sell up.

If she sells up she'll lose all she's 'worked' hard for... Says it in the article.

Tbh when I saw this and the date of 1998 I couldn't help that think the BBC has gone red top and is on the wind up.

[onlyme]

10 hours ago, nirvana said:

aye, I wish I had more experience building like that, even knew about it before I left my homeland and lived in a foreign cuntry.......what a world eh lol.......a mate of mine was building a small house with traditional techniques but we fell out when he took a load of my dope and instead of producing some biscuits like he said he would, the greedy cunt smoked it all.....so i haven't been around to see the finished product  maybe I should build bridges......out of hemp eh?

There's some good vids on YT, not difficult really, more grunt and time-consuming, build a store or outbuilding and try it. Just need to make sure the raw materials are right - when it is all in compression and fully dried out and of the right thickness not much to go wrong, not going to make any structural elements out of it like door headers and alike - that's where the inset beams  / lintels / stone comes in, maybe with other stonework set in the mix to provide padstones to distribute the direct pressure so that the weight from above isn't directly crushing the material below and that pressure is distributed throughout  the wall.

[JoeDavola]

Decent enough wee bungalow came on sale the other day, nice but nothing specacular, but it's not really the bungalow that's important:

https://www.propertynews.com/property-for-sale/5-brooklands-crescent-whitehead-bt38-9sw/property/BED807234/

what's really eye opening is the cost of a mortgage on an only slightly above average house at these higher rates...the rates they're using on the website's calculator are 6.25% - they're defaulting the repayment to 30 years but fuck that I put it down to 25 cause I'm not playing that game whre this generation suddenly need 30 years of debt instead of 25...

The costs as you can see below are £1400 a month. Add the £100 a month council tax to that (I know that's low compared to the rest of the UK), then add the average yearly maintenance and heating costs....fuck me it's going to take basically all of one decent wage just to pay for the roof over your head.

EDIT: And if you were commuting to Belfast where the jobs are, you'd have to add another £100 a month for the train ticket.

Edited March 3, 2023 by JoeDavola