Beginning of the end

[TwoWolves]

1) Introduce tight regulation of the lending market for UK property.

2) Introduce punitive tax legislation to prevent foreign buyers/investors from speculating on the UK market.

3) Introduce strict code of practice on estate-agents.

4) Introduce strict code of practice on developers.

5) End council house right-to-buy schemes and build more council housing.

Generally I'm against restrictive legislation but its the only way out of this mess, also it would have to be introduced strategically in order to prevent a speculative bubble such as we saw when the ERM was introduced.

[TwoWolves]

Forum/Sas,

I'm all for property ownership but you fail to see that what we actually have is financial institutional ownership. Its a giant Victorian work-house; not freedom.

[AtW]

The proper comparison is:
Buy at 1444/m, or
Rent at 780/m and invest 664/m.

Yes that's one way to look at it. But there is another angle - until New Labour gets Nobel Prize for proving that economy does not work in cycles I will go with what history teaches - all is cyclical and current raise in property prices is just that part of cycle. Why would I want to buy now to be stuck with huge debt for 25 years when I can tactically rent and buy to repay a lot less money? So I will still own the house, but have more money to invest while lots of other will be struggling for 25 years, unless huge inflation will hit to devalue debt, which is unlikely.

So I am not buying at current prices - unless I have a few spare millions where I can pay cash and not care even if price of house goes down to 0.

I've actually seen nice semi-detached house on my daily runs - if I get both parts of that house it will actually be properly sized house to live in. I wonder if breaking a wall inside for internal passage would require mega special council permission?

[AtW]

If I had not invested in property I would have nothing now. Because I put a 2 or 3 small deposits down at the right time, I am now mortgage free AND can spend that money investing

And you did enter the market at the right time - if you bought in 2000/1 then the price of property is probably close to that being fair, but at current prices I am not buying, heck I simply can't afford to buy the house I want to live it, why would I compromise my already sad lifestyle by living in a crappy house in a crappy area? Bollox to that - I'd rather rent in a nice area where I am now. Prices will fall sooner or later, or I earn millions from SKA - one way or another I don't have to take on huge risk that can potentially cripple my life for a few decades.

[expat]

I've actually seen nice semi-detached house on my daily runs - if I get both parts of that house it will actually be properly sized house to live in. I wonder if breaking a wall inside for internal passage would require mega special council permission?

I don't understand. How would they know?

[rootsnall]

1) Introduce tight regulation of the lending market for UK property.

2) Introduce punitive tax legislation to prevent foreign buyers/investors from speculating on the UK market.

3) Introduce strict code of practice on estate-agents.

4) Introduce strict code of practice on developers.

5) End council house right-to-buy schemes and build more council housing.

Generally I'm against restrictive legislation but its the only way out of this mess, also it would have to be introduced strategically in order to prevent a speculative bubble such as we saw when the ERM was introduced.

It will sort itself out at some stage !

[AtW]

I don't understand. How would they know?

I am a law obiding foreign national - I believe for internal work no council permission necessary, perhaps I will be covered by making 2 semi houses into one internally. Wonder if any structural integrity crap would come into question, but if its semi, it should be easier.

[DaveB]

I've actually seen nice semi-detached house on my daily runs - if I get both parts of that house it will actually be properly sized house to live in. I wonder if breaking a wall inside for internal passage would require mega special council permission?

Generally speaking you don't need planning permission for internal work that is not visible from the outside. Knocking through to make two semi's into one shiuld be fine. Probably some major structureal work involved but thats what builders are for

The following are common examples of when you will need to for apply for planning permission:

You want to make additions or extensions to a flat or maisonette (including those converted from houses). (But you do not need planning permission to carry out internal alterations or work which does not affect the external appearance of the building.)

You want to divide off part of your house for use as a separate home (for example, a self-contained flat or bed-sit) or use a caravan in your garden as a home for someone else. (But you do not need planning permission to let one or two of your rooms to lodgers.)

You want to divide off part of your home for business or commercial use (for example, a workshop) or you want to build a parking place for a commercial vehicle at your home.

You want to build something which goes against the terms of the original planning permission for your house - for example, your house may have been built with a restriction to stop people putting up fences in front gardens because it is on an "open plan" estate. Your council has a record of all planning permissions in its area.

The work you want to do might obstruct the view of road users.

The work would involve a new or wider access to a trunk or classified road.

You do not always need planning permission. It is not required, generally speaking, for changes to the inside of buildings, or for small alterations to the outside such as the installation of telephone connections and alarm boxes.

Other small changes, for example putting up walls and fences below a certain height, have a general planning permission for which a specific application is not required.

[AtW]

So, if I buy a semi, which consists of 2 different houses, then I will be able to connect them internally into one big house, though on paper they will remain as two houses? I suppose if I own both I can redisignate them to be one big house?

That's probably what I will do when I buy because houses in this country (even outside London) seem to be very small indeed.

[Forumbore]

1) Introduce tight regulation of the lending market for UK property.

2) Introduce punitive tax legislation to prevent foreign buyers/investors from speculating on the UK market.

3) Introduce strict code of practice on estate-agents.

4) Introduce strict code of practice on developers.

5) End council house right-to-buy schemes and build more council housing.

Generally I'm against restrictive legislation but its the only way out of this mess, also it would have to be introduced strategically in order to prevent a speculative bubble such as we saw when the ERM was introduced.

In other words SAS is correct