Renting Property in Accrington
 

Anyone know if there are any decent letting agents around Accy and where I might be able to find them?

Re: Renting Property in Accrington
 

Re: Renting Property in Accrington
 

Thompson and Partners have a lettings department.............

Re: Renting Property in Accrington
 

Is there any property in Accy that would be classed as in prime rental areas?

I hear property is quite cheap up there!

Re: Renting Property in Accrington
 

Cheap compared to where you live but not by local wages...

My mum lives up Spring hill, Her house is proabbly worth £40-50K. I'd reckon £20K tops. For someone working in manufacturing on minimum wage as a lot of people are(£15K/year) then its out their price range to pay over £50K for a house. I was lucky and moved in 99 before house prices shot up. I couldn't afford the ouse I live in now even though I have a good job in a highly paid area of expertise.

Re: Renting Property in Accrington
 

For someone on £15 a lot of lenders would lend 4 times salary.

Some lenders will stretch further than that - one lender will go 4.8 times, and other lenders work on disposable income rather than income multiples.

£60k is not out of reach for someone on £15k.

Re: Renting Property in Accrington
 

Cheap property? Afraid you missed the boat. Three years ago you could have bought the Town Hall, if you'd have sold your garage in London, not now!

Re: Renting Property in Accrington
 

But who in there right mind earning 15k would want to get so far into debt?? What if the interest rates go up again? If anybody borrows over 3.5 times there wage they must be crazy!! I certainly wont do it and thats part of the reason I am leaving the UK.

As for letting agencies, I use Rent The House in accy next to argos. If you are on the dole then you are all right, but god help you if you are working and want something half decent, the minimum is about £400 a month!!!

Re: Renting Property in Accrington
 

lf interest rates went up to 15% which they did in the early 90's, you'd be on the street if you'd have borrowed x4 your salary.

Re: Renting Property in Accrington
 

i noticed they snapped up a few properties where rists used to be yet at prices like 150 p/w who can afford that unless the dhss pay it . I d find it annoying to have paid for one them properties though then to find a bunch of youths renting the house next door . On a few occasions ive passed there to see a few lads hanging out a window with the music blasting out .
Im not sure which letting company it is but they have a few places up sandy lane and usually in the region of 60 - 70 per week will try and find out later the name

Re: Renting Property in Accrington
 

It is highly unlikely that interest rates would go that high again. Do you remember that one of the first things the government did when they came into power was to hand over control to the Bank of England?

4x salary is quite normal nowadays, and as I said earlier, you can get more than that from some companies.

Anyway, show me someone who finds their dream house, but to get it they need 4x their salary. Are they going to say "no, I couldn't possibly because it's 4x my salary"?

I think not.

How about "show me the money!"

Re: Renting Property in Accrington
 

im not sure on this it could b incomplete

Re: Renting Property in Accrington
 

Roy puts hand up :)

I'm not playing the big style debt game, I've seen what it does to people when things don't go your way. Especially at this time when house prices are ridiculous!

Re: Renting Property in Accrington
 

Whilst admitedly it's a tempting enough offer to borrow as much as you can get, it is still a risk. The Economy has always been a Boom and Bust rollercoaster ride, even with more power in the hands of the Bank of England.

The national average wage for last year was reported to be 21k.
4x £21,000= £84,000
This is enough to buy a garage in the south east, and badly limits your choices in Hyndburn now, after the massive price increases in the last two years.

l'm lucky, l sold my dingy London shoe box,[bought in the early 90's slump,] eight years later for a 400% profit, before moving back North. l feel sorry for anyone trying to buy for the first time here, were the average wage is certainly not 21k.

Re: Renting Property in Accrington
 

If everyone thought that way, no one would buy a house in the first place!

Unless you are a cash buyer, you are going to have to get into debt somehow. Or rent of course.