Hi,
My ex-partner and mother of my 6 year old daughter has just informed that her landlord is selling the flat they live in. I'm pretty gutted because they've just moved down there from Cheshire and they had to move from another house for the same reason a year ago. I've offered in the past to help her buy because I just want stability for my daughter (buying is not something I'm keen on now btw).
So situation is - Landlord converted a big house in July 2007, sold 2 of 6 flats and rented out four. Not sure what he sold them for but they were marketed at £125k. Very graciously he's offered my ex the flat for £125k, the EA has been dealing with it and is saying she could get a 'vendor gifted deposit' and their mortgage adviser will get a mortgage for the rest - I've told her not to be a mug and she won't do anything daft. It's just that she has it in her head that Mutley is a great area and the University is moving there or expanding and that property won't suffer too badly.
I've told her to do the usual research speak to other EAs etc but I'm calling on you folks to see if there's anyone with local knowledge - what's the market like down there?
Full Version: Plymouth, Specifically Mutley
QUOTE (Papitogrande @ Feb 1 2008, 04:29 PM) 
Hi,
My ex-partner and mother of my 6 year old daughter has just informed that her landlord is selling the flat they live in. I'm pretty gutted because they've just moved down there from Cheshire and they had to move from another house for the same reason a year ago. I've offered in the past to help her buy because I just want stability for my daughter (buying is not something I'm keen on now btw).
So situation is - Landlord converted a big house in July 2007, sold 2 of 6 flats and rented out four. Not sure what he sold them for but they were marketed at £125k. Very graciously he's offered my ex the flat for £125k, the EA has been dealing with it and is saying she could get a 'vendor gifted deposit' and their mortgage adviser will get a mortgage for the rest - I've told her not to be a mug and she won't do anything daft. It's just that she has it in her head that Mutley is a great area and the University is moving there or expanding and that property won't suffer too badly.
I've told her to do the usual research speak to other EAs etc but I'm calling on you folks to see if there's anyone with local knowledge - what's the market like down there?
My ex-partner and mother of my 6 year old daughter has just informed that her landlord is selling the flat they live in. I'm pretty gutted because they've just moved down there from Cheshire and they had to move from another house for the same reason a year ago. I've offered in the past to help her buy because I just want stability for my daughter (buying is not something I'm keen on now btw).
So situation is - Landlord converted a big house in July 2007, sold 2 of 6 flats and rented out four. Not sure what he sold them for but they were marketed at £125k. Very graciously he's offered my ex the flat for £125k, the EA has been dealing with it and is saying she could get a 'vendor gifted deposit' and their mortgage adviser will get a mortgage for the rest - I've told her not to be a mug and she won't do anything daft. It's just that she has it in her head that Mutley is a great area and the University is moving there or expanding and that property won't suffer too badly.
I've told her to do the usual research speak to other EAs etc but I'm calling on you folks to see if there's anyone with local knowledge - what's the market like down there?
Hi,
No idea about the market now so cant help with that.
I studied at Plymouth Uni 97-99 and lived in a big house share in Mutley.
She's not on houndiscombe road is she? Compared to many parts of Plymouth it is quite nice!
QUOTE (Papitogrande @ Feb 1 2008, 04:29 PM)
Hi,
My ex-partner and mother of my 6 year old daughter has just informed that her landlord is selling the flat they live in. I'm pretty gutted because they've just moved down there from Cheshire and they had to move from another house for the same reason a year ago. I've offered in the past to help her buy because I just want stability for my daughter (buying is not something I'm keen on now btw).
So situation is - Landlord converted a big house in July 2007, sold 2 of 6 flats and rented out four. Not sure what he sold them for but they were marketed at £125k. Very graciously he's offered my ex the flat for £125k, the EA has been dealing with it and is saying she could get a 'vendor gifted deposit' and their mortgage adviser will get a mortgage for the rest - I've told her not to be a mug and she won't do anything daft. It's just that she has it in her head that Mutley is a great area and the University is moving there or expanding and that property won't suffer too badly.
I've told her to do the usual research speak to other EAs etc but I'm calling on you folks to see if there's anyone with local knowledge - what's the market like down there?
My ex-partner and mother of my 6 year old daughter has just informed that her landlord is selling the flat they live in. I'm pretty gutted because they've just moved down there from Cheshire and they had to move from another house for the same reason a year ago. I've offered in the past to help her buy because I just want stability for my daughter (buying is not something I'm keen on now btw).
So situation is - Landlord converted a big house in July 2007, sold 2 of 6 flats and rented out four. Not sure what he sold them for but they were marketed at £125k. Very graciously he's offered my ex the flat for £125k, the EA has been dealing with it and is saying she could get a 'vendor gifted deposit' and their mortgage adviser will get a mortgage for the rest - I've told her not to be a mug and she won't do anything daft. It's just that she has it in her head that Mutley is a great area and the University is moving there or expanding and that property won't suffer too badly.
I've told her to do the usual research speak to other EAs etc but I'm calling on you folks to see if there's anyone with local knowledge - what's the market like down there?
im from plymouth and know mutley pretty well - this is one of the places that will be hardest hit due to the amount of BTL in the area - expect a big bail out of BTL to cash in on the 18%cgt in aprill - (whilst they still have some CG that is). rent somewhere else then look to buy next year - i think you may be pleasantly surpised.
best of luck
IB
QUOTE (ianbeale @ Feb 2 2008, 02:08 PM)
im from plymouth and know mutley pretty well - this is one of the places that will be hardest hit due to the amount of BTL in the area - expect a big bail out of BTL to cash in on the 18%cgt in aprill - (whilst they still have some CG that is). rent somewhere else then look to buy next year - i think you may be pleasantly surpised.
best of luck
IB
best of luck
IB
Thanks Ian, I told her this and we've agreed that it would be best to wait things out. In normal circumstances she could have asked for a rent reduction but the LL took 6 months rent in advance - would loved to have been able to play that card.
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