Re: Renting Property in Accrington
 

Re: Renting Property in Accrington
 

Absolutely right.

I bought my house for just under £80k in 1999.

Now it's worth over £200k.

We stretched our income at the time, but with pay rises etc, it becomes easier to meet the repayments

Re: Renting Property in Accrington
 

Of course you're going to have to get into debt. A mortgage is a debt, after all. But Garinda is right, there is a world of difference between borrowing 4 x salary and paying 5% interest and paying 15% interest. I no longer have a mortgage (thank God) but when I was paying one, interest rates went up to 14%. It made a great deal of difference to my budgeting. Okay, so you can make sacrifices, give up smoking (if you do), give up drinking, etc. However it's hard to give up those other expensive little habits like eating, wearing shoes, and travelling to work. There can also come a point where life is so joyless than it's hardly worth it, dream house or not.

The point is, to get into MANAGEABLE debt, not something which is going to cripple you for years to come.

Re: Renting Property in Accrington
 

So many of my friends split up, directly or indirectly because of over stretching themselves in the boom of the mid 80's, because of their desire to have the dream house. Negative equity arose because of the ever present fluctuations in the interest rates. This meant they had to live together for years after they wanted to move out and on. Nightmare.

Re: Renting Property in Accrington
 

I have had enquiries in the past where someone was earning £20k and wanted a mortgage for £160k.

That is stretching things a little too far.

When I recommend a mortgage, I make it clear what the repayments are going to be, what they will be when the offer period ends, and the effect of an increase in interest rates. This information is also provided on the Key Facts Illustration that has to be provided.

They are required to sign the letter to signify acceptance of my recommendation and agreement. If there is anything that they do not agree with, it gets changed (it hasn't happened yet, as I am a fantastic adviser!).

So it's not really me that drives the income multiple, it is my job to try and get the best deal for the amount of money they need. If they can't get the amount they need, I let them know before any more work is done.



(Oh, and the bit about the fantastic adviser. This was on a feedback questionnaire that one of my clients completed recently, so it must be true!!!)

Re: Renting Property in Accrington
 

You are far better off if you can rent privately;2 of my work colleagues have been stung recently by referral fees and viewing fees for rented properties up with agencies;£50 a go,no guarantee you will get the house.

My landlord is absolutely fab;he actually takes an interest in the house and will come round at the drop of a hat if you call him.Can't see that happening with agencies.

Re: Renting Property in Accrington
 

Sometimes you can strike lucky with a landlord, and it looks like you have done so, lindsay.

Other landlords are complete w****rs - I had the misfortune to know one once. It's times like that you wish an agency were looking after it

Re: Renting Property in Accrington
 

Renting is a hit and miss thing really. My sister rented a house from a company in Clayton and has been there a year, now some company from Liverpool have bought the house and now want her out of it so she is looking again. And with 4 kids and being on her own it isn't the easiest of things to do.

Re: Renting Property in Accrington
 

at prices like 150 p/w who can afford that unless the dhss pay it . [/QUOTE]

Housing Benefit [DHSS dont pay for Housing, the Gov't does through local Councils] have an absolute limit of £60 and £65 per week [couples, families, vulnerable] in the private rented sector locally. Single people it is most likely a maximum of £45 and for under 25s less again. There are very few single person flats in the borough and those forced to live in family accomodation still are only entitled to single persons allowance. Homelessness, mainly due to broken families, is 3 times greater than the supply of Council Houses.

All those people paying and £80 and £90+ are having to pay a 'top up' out of the reminder of their benefits. HB pay full rent on RSL properties only. The private rented sector is bigger that the Council Housing Sector for rented accomodation. RSLs make up the other 20%. In reality there are no Council Houses left [the turnover is so low that if you are on the waiting list, your unlikely to get one] except voids.

Many landlords coudn't give a toss about their tenants or the neighbours.

Re: Renting Property in Accrington
 

You're right about the landlords Graham. You only have to look at Hood St and Horne St to see that. I live on Derby St and the house next door to mine is owned by a fella who rents it out. Each time his tenants vacate he has to come in and do a massive clean up re-vamp operation. He was moaning about it about 12 months ago to me. I told him that if he ever called round to check on his tenants, he would see the state that the house was in and that it's no use moaning to me when he lets his property out to a bunch of reprobates. The tenants at the moment seem a tad nicer than the usual crew. At the back of my house are 3 properties on Whalley Rd I think they are rented out by Magenta. The neighbours directly across the back alley have been there for 3 months and have never put out their rubbish for collection. Their yard is awash with black bin bags and rubbish. Maybe when we have a rat problem they will then be forced to clean up their act.

Re: Renting Property in Accrington
 

I sympathise with you Lettie. I don't live too far away from you and have similar problems with my next door neighbours. They don't bother with the wheelie bin they just chuck it out onto the street as and when. They are loud, rude and annoying. We just keep making complaints both to the council and the landlord as and when problems occur. It worked once (they got evicted), but a new lot moved in. Landlords just don't care as long as they get their cash.:(

The previous tenants were also responsible for us getting a mouse problem - the council will charge you about a tenner every two weeks to get rid of something that someone else has enticed to the area.:mad:

Re: Renting Property in Accrington
 

Well I'll try get it cleaned up Lettie. See what enforcement order we can get from EH. Whats your house number and I'll call around, or give us a call.

Re: Renting Property in Accrington
 

Cheers Graham, I'm ringing EH on monday morning. One of my neighbours says he's already rung them, but the last time this happened they didn't do anything until several of us had phoned. I haven't seen a wheelie bin in this yard either. The present occupants didn't live there when the bins were delivered. I'll contact EH on Monday morning and let you know how it goes. Thanks...:)

Re: Renting Property in Accrington
 

my house was just valued at £65.000 an its only a 2 up 2 down with a kitchen extention

instead of paying even more money for a house that is bigger i may sell up and rent a council house with a back and front garden at the tax payers expense as although the council wont help me with my mortgage £35 a week they would gladly pay upto £90 for me to rent a propperty

the best part is after a few years i will have the right to buy and have enough cash from the sale of my house to buy the council property outright on the right to buy scheme for next to nothing

ahh the irony

pesonaly i dont think anyone should have the right to buy a council house especialy those who get their huge discounts because they paid rent for it for 10 years but havnt realy becasue they claimed housing benefits and only bothered to get a job so they could buy the house at a bargain price then sell it a few years later and make more than 20 grand proffit

if you can qualify for a mortgage you should buy a house and let the council property go to those who cant and also those who need accomodation

anyway thats another debate but i am seriously thinking of screwing the system just liek everyone else has lol

i highly doubt i will though :D

Re: Renting Property in Accrington
 

TO LETTIE. Let us know what happened at EH. You'll have to speak to Lee Haworth. Any difficulties, tell him you told me.

LANDLORDS: There needs to a big shake up of policy. The softly softly business approach is failing. Some limited powers are now statute. Its a3 pronged attack. On the tenants who wont behave [ASB legilsation and new EH leg.]. Secondly Regulation and enforcement of landlords [not enough is being done in HBC within the law] and thirdly, increasing supply of rented accomodation through responsible RSLs. Ambitously to set up with RSLs neighbourhood housing co-ops run by residents in partnership with RSLS. HBC, RSLs and ELEVATE are not pulling their finger out on this one.

HOUSING BENEFIT

DHSS dont pay for Housing, the Gov't does through local Councils. Housing Benefit is paid from govt and Councils adminster it. DHSS have nothing to do with it.

Housing Benefit have an absolute limit of £60 and £65 per week [couples, families, vulnerable] in the private rented sector locally. Single people it is most likely a maximum of £45 and for under 25s less again. There are very few single person flats in the borough and those forced to live in family accomodation still are only entitled to single persons allowance. Homelessness, mainly due to broken families, is 3 times greater than the supply of Council Houses.

All those people paying and £80 and £90+ per week are having to pay a 'top up' out of the reminder of their benefits. Housing Benefit pay full rent on RSL properties only.

The private rented sector is 40% of market, Council Housing Sectoris just under 40%. RSLs make up the other 20%. In reality there are no Council Houses left [the turnover is so low that if you are on the waiting list, your unlikely to get one] except voids.