Print

Please login or register.
1 Hour 1 Day 1 Week 1 Month Forever
Login with username, password and session length

[tunnie]

But I imagine that you are earning far more than many people.  Also, three years rent free is a luxury most people never experience. As for repairing/servicing Omegas.........every one knows they are so reliable that they never break down or need mending.....

Not as much as I would like, someone I used to work with, 5 years younger than me. In the time I did the above, setup his own company, grew it to 30 odd employee's then sold it for cool £13 million!

He's now living in San Francisco with his wife and baby girl!

[TheBoy]

Whilst I applaud you, Mr tunnie, as I have said on a number of occasions, you have made many of the right decisions with the cards you have had.


BUT "saving £35k in 3yrs" is probably almost as much as a fair proportion of the population earn in 3yrs - thus housing buying is a distant dream for them. So it can't always be done.

Back when I bought my first house, the biggest mortgage you could get was 3 times take home. Not a penny more.  As it happens, interest rates were at 15% anyway, so nobody could have afforded more.  I had to wait for the housing market to crash (which it did spectacularly around 1990) to be able to get the mortgage (I was probably on around £15k at the time), plus the £10k I scrimped and saved to buy my first £55k house in Aylesbury.  My best mate bought about 2yrs before, and could only afford half the house, so had to go into a joint ownership with the Council.


Buying a house has always been crippling, but houses are mostly out of reach for 'normal' first time buyers...   ...remember, your average shop assistant probably doesn't even bring home £1k a month, let alone be able to save £1k

[razzo]

seemed a good idea at the time 
http://www.dailymail.co.uk/femail/article-2011121/Gilston-Lodge-Chelsea-house-sold-5-000-1958-raise-10m.html

[ninjapirate]

hope its not probate lol
i know its a £10mill house, but really £2-£3mill to bring it up to modern standards? thats way beyond lol

[redelitev6]

  we bought the freehold of our old house for £500, around 1992 , sold the house 2 years later and never got our money back, only people to benefit will be the owners in a few years time when the leasehold would be up for renewal.

[MikeDundee]

I assume your father has a lease with service charge, and covenants included in the agreement. Most leases include ground rent and service charges e.g., freeholder is responsible for maintaining the property and the leaseholder pays the appropriate charges or rates during the term of the lease including any maintenance charges, as in most cases the freeholder is responsible for the structure, including windows, roof and doors.

Buying the freehold is not as expensive as you may think, and will be the cheaper option on the long term. I assume the freehold interest sits with either a local authority of a private freeholder