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I'm not really sure where I should be posting this…
It is VERY likely that we will be moving to Gloucestershire within the very near future.
OH will be working in the Tewkesbury area and me probably in Birmingham (I have more flexibility).

I need some input on nice areas to live in in Gloucestershire. Nice villages that we might consider, or towns. Most expensive areas etc.. Any info / input is more than welcome as we have no idea what the different areas are like.
I saw a program recently talking about Bourton-on-the-water, but that is as far as my knowledge of the area goes. Sorry.

Also would welcome any sound advice on where NOT to buy or look…

Thank you in advance! We are planning a trip there for mid-August so any comments are more than welcome!

Cheers! Anne

If you move there, I'll bring you a bottle of Oyster Bay [/quote]

I think I can't let pass your offer of Oyster Bay… just because of that I am contacting the agent as we speak and renting the house!!

Looks like a lovely place!!! :j

Prices won't be rising in the time it takes you decide on where you want to be either, so that's a nice bonus. Do have a look at Worcestershire because even the pretty places aren't as expensive as somewhere like Bourton. £300k will easily buy you a decent four bedroom detached property in Worcestershire.

There's a house to let in Ombersley which is just stunning, brand new near our friends in a fabulous village actually – really pretty and a couple of really good restaurants and an award winning butcher as well. I don't even know the guy but if I was renting now I'd move there like a shot! Prices in the village are pretty reasonable in general.
http://www.rightmove.co.uk/viewdetails-21862757.rsp?pa_n=1&tr_t=rent

If you move there, I'll bring you a bottle of Oyster Bay

We were even considering selling here, putting the money into savings (we'll have around 125k) and rent somewhere until we find a place that we like / find our bearings. Since prices are heading south I'm wondering if that wouldn't be the sensible thing to do, maybe in an year or so we will be able to grab a bargain.

Thanks for the input!

Bourton on the Water is very nice but you'll be paying a real premium in the Cotswolds plus you're quite far from Birmingham there and nowhere near the motorway to speed your journey along. Places in the area where tourism is popular pushes prices right up – Bourton, Broadway, Stratford etc.

Pershore is really very nice and not too far from the M5. We have friends in Wyre Piddle I have a house in Kempsey which is a really nice village just outside Worcester on the A38 to Tewkesbury and 5 minutes from the M5.

What's your budget going to be for what size house?

The OP already has a job in B'ham and their OH in Twekesbury….

Without sounding harsh, having lived in around the area maybe I have slightly more knowledge on the area?

FYI – Kraft Foods, GE Aviation, Kohler Mira and many others all have HQ's in Cheltenham.

Tewkesbury & Stroud are small but interesting. Gloucester and Cheltenham are bigger but very different, Cheltenham town centre is very expensive but lots going on, Gloucester is the opposite and has mostly out-of-town attractions (although some town-centre regeneration is going on)… all these places are surrounded by beautiful countryside.

btw I have lived in Gloucester, Cheltenham, and the surrounding countryside

I some respects Tewkesbury is to be avoided as therie really isn't much there. Gloucester on the other hand apparently is the capital of the county and nearly all administration is based their for the county. cheltenham I think has a better shopping arena but Gloucester is a bigger place and some sort of new outlet village is being built. If you want regency and pompousness go to Cheltenham. If not anywhere but there would be OK for you, Stroud and it's valleys is pleasant.

Cheltenham (Centre For The Cotswolds) is a far better town to live in than Gloucester, though as I said that is my 2 pence worth… The resturants, shops, parks, schools and way of life are all superior to that of Gloucester town centre.

Plus it is 2 mins from the M5 and takes 45mins to get to Birmingham by car or train.

Bourton of the Water would be a fair treck to Birmingham as it's located a fair distance from the motorways.

I some respects Tewkesbury is to be avoided as therie really isn't much there. Gloucester on the other hand apparently is the capital of the county and nearly all administration is based their for the county. cheltenham I think has a better shopping arena but Gloucester is a bigger place and some sort of new outlet village is being built. If you want regency and pompousness go to Cheltenham. If not anywhere but there would be OK for you, Stroud and it's valleys is pleasant.

Cheltenham is the best "town" to live in within Gloucestershire if you want a good selection of shops, bars and life in general, specifically Tivoli, Montpellier and Leckhampton areas are the most sought after.

There are some lovely villages around – Winchcombe, Nauton, Whittingham, Temple Guiting… But depends on how many amenities you need around you and schools etc.

I'd avoid Gloucester and Tewkesbury town centres but that's just personal opinion.

If you have any specific questions let me know…

You need a map of the trainstops from Birmingham perhaps if you're looking at getting the train to work.

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I expect to go up a bit but the house needs EVERYTHING doing to it, no kitchen, gas not yet connected, wiring is over 40 yrs old etc. Prepared to do all that work but as owners commented that they wanted to sell (estate) and were prepared to negotiate I thought we could try a lowball figure.

In our favour (I hope) is the fact that we aren't in a chain, we don't need a mortgage on the new property (extending mortgage on family home and using savings) and as we have tradespeople in the family we don't feel the need for loads fo surveys and hassle.

We're having a structural survey done but everything else we are prepared to take as is (ie we know wiring needs replacing and we know the cost of that, no need to pay an additional X for a leccy to come out and tell us that).

So if they accept our offer (or one just a bit higher) they get a buyer in a position to move quickly to completion and no hassle worry about lots of different surveys and us trying to constantly renegotiate the price as surveys come back.

Its been on the market for over a year and they've had oen buyer pull out at the last minute already, I dont' think there's been much additional interest either and obviuosly they want to sell it so they can split the estate rather than having the expense and bother of council tax bills etc and doing viewings.

Wish me luck!

:j : :j

It seems there are fewer buyers so one who is willing and able is a big + point in your favour. It sounds like you will have a job on your hands turning with your new place into a home but I'm sure you will enjoy it – especially after the dust has gone.

Please cross your fingers for us that our sale goes through quickly without a hitch .

Hopefully a middle ground can be reached and you get the house.

Not sure how long it will take for the seller and EA to get back to me about the offer – I hope I'll hear by the end of the week.

I'd love to know more about the property etc. But of course it would not be wise for you to post rightmove links, locations, etc. As if the seller visited the forum and recognised you, your negotiating strategy would be rumbled.

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However, my annual salary is about one sixth of the debt I owe. Yet if I include rental income from my two tenants, that drops to less than one fifth. So can I include it, or at least would it be considered as an acceptable form of other bonuses / income for the mortgage lender to consider?

I remember being told a couple of years ago that it's not normally acceptable to include it, but I dont know if that's right.

You either have to look at each property separately, or bung all the assets (properties) with all the debts and look at the whole picture i.e. all your income against all your borrowings and other outgoings.

I don't hold out much hope, though – sorry

I'm not sure who told you that, but I'm not aware of any lender lending over 97% LTV at present. If you are looking at self cert, you'll need at least 20% equity. You can earn as much as you like, but where a loan is secured on a property, no one is going to lend you more than the value of that property in the current climate.

also, my actual situation is slightly more complicated than would seem in the original post, as i didnt want to bore anyone. It involves a second property and expensive work that will boost value required to the other one, which makes it in some cases easier and in some cases more difficult to borrow the money, so it's not as simple as just remortgaging on 110% ltv

The bit you describe as 'slightly more complicated' which you think is boring is the most relevant bit of your situation. No bank will give a mortgage unless their client has assets worth comfortably more than the mortgage loan. Only after they are happy about that will they consider your salary. So you are going to have to write the boring details if you want a more informed view.

quote]

sorry albo but your main issue here is loan to value….if it's over 95% you have no chance i'm afraid regardless of your income.

would love to be more positive.

I'm not sure but I think mortgage companies normally ask if anyone else will be resident in the property and your relationship to them.

that's true, but I've been told that there are lenders who'll let you remortgage provided you have a good credit rating and havent missed any payments, as I do, and provided your income levels are to their satisfaction

also, my actual situation is slightly more complicated than would seem in the original post, as i didnt want to bore anyone. It involves a second property and expensive work that will boost value required to the other one, which makes it in some cases easier and in some cases more difficult to borrow the money, so it's not as simple as just remortgaging on 110% ltv

Yes I would guess so, maybe ask you FA to look into this question with the provider before saying anything??

Wish you luck

v
x

I don't think it is acceptable to include it and also, does your building society know you are letting out a couple of rooms, I may be wrong, but you may actually need their permission to do this?

v
x

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This is my first post so please bear with me. Also, I'm not sure whether or not this should be in the Tax section.

Due to health reasons my mother is selling the family home and downsizing to something smaller. I have agreed to buy her old house for a fair market value but will only be able to transfer funds when I sell my own house. I should mention at this point that my mother has already bought and paid for her new place.

My concern is that it could take a long time to sell my house (in current climate). Would there be capital gains tax implications due to one of us having two houses at the same time ? Does anybody know if there are any concessions that allow a relative to take a certain length of time in order to pay for a property that is moving within the family ?

Hope I've made myself clear – any advice appreciated !!!

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Thanks in advance.

She will need the account to be in her name, which she won't be able to doi until she completes on the property. Once the account has been set up, she can approach any supplier to switch it to if she want's but it will take 4-6weeks to actually switch. With all the other things to sort out, probably easiest to stay with the current supplier for a while, until she has a good idea of expected annual usage, and then she might decide to switch to a cheaper supplier (she won't really know which is cheaper without this info)

Thanks in advance.

It's also a good idea to change the locks. And put in a lamp with timer & some curtains, so the place doesn't look unoccupied. She doesn't want squatters. Why is she not moving in for a month?

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Recently my Landlord told me that he had not received three months' rent from our letting agency, even though we have been paying our rent to them (and I have the proof from the bank of this).

It turns out when I looked into it that, unbeknown to the people they were continuing to take money off, the company was wound up in the beginning of June this year. They did, however, still collect another month's rent nearly one month later at the beginning of July, despite being in the process of being liquidated.

About a week ago I received a letter from the letting agency, or at least claiming to be, asking for bank details to set up a new direct debit for the rent. Of course, the direct debit mandate was blank and did not reveal where they were proposing to have the money sent to. As I am not a fool I cancelled the old direct debit and negotiated a new contract direct with the Landlord.

It would seem to me, however, that the people running the old letting agency are attempting to defraud more money from their former tenants. As far as I can tell, what they are doing is illegal, but despite my best google-fu skills, I cannot find any helpful information on preceisely how this is illegal and if so what to do about it. Companies house shows them as having been wound up on the 6th of June, and the people in the offices nectdoor to them in Bolton state that the bailiffs raided and cleared their place on around the 6th of July. However this new letter trying to get our bank details is dated the 18th of July.

Can anyone provide any advice on how to deal with what appears to be an attempt to defraud former tenants of money? The letter on their official letter headed paper is clearly dated after they were liquidated, but tries to claim that stories about their 'financial difficulties' are being spread by competitors. It makes no reference to their having been wound up and liquidated. However I do not think the Companies House website listing is wrong.

Any ideas?

My friend cares because she does not want to be ripped off, which is what seems to be happening.

Any ideas?
Why does your friend care…. the LA is the AGENT of the LL, if he chose a sh1te one it's the LL's problem not the tenants, the agent he appointed to collect the rent an off with the LLs money – the tenants have proof of paying their rent to the landlord's agent so are square with him…. if they had the deposit too it's the LLs duty to return it even if he never got it in his little paws… choosing their LA was the the LLs choice and he has to deal with that for himself

Rob

If what you say is proved then they were trading illegally and as such the directors are likely to be disqualified (or will be asked to give undertakings not to act as directors for x years).

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Cheers

the university, city centre and hospital (all big employers) are 30 minutes walk or a 10-20 minute bus ride.

And what does this cost? around ￡150-250k depending on how quiet a street you want your house on. If you've a smaller budget you can get a 2BD for ￡75-￡120k

We're moving only because we want to get into the countryside and to be nearer my dad (not getting any younger). But I'd never consider moving down south.

Pay off your debts and save that deposit but also start looking at average prices – work out where you can afford to move to – ie where are there decent hosues in OK locations for under ￡80k. Then keep your eyes open for jobs in those areas.

That's about the going rate round here Not planning on paying it though as I want a house so will be going a bit firther out

You should do more than think about it:

Save Save Save

(and pay off loans, cc, etc as you mentionned)

1. Clear debt.
2. Clear loan.
3. Save 10% deposit

By the time you have achieved that you may find house prices have dropped nicely into your affordable area.

That's the plan As long as the transfer goes then the credit card will be paid off by September next year and then I can double the loan repayments and clear that quicker too

Whatever you do, don't try and borrow £160k on £18k annual income.

Interest alone on that amount would be £10,000 per year even on a conservative interet rate of 6.25% You can't afford that.

Either find a better paid job or somewhere cheaper to buy. Now you know why it's not uncommon for people to commute over 100 miles each way for those working in the SE.

I don't intend to. I'm prepared to move to find the right place as long as I can get the mortgage and work in that area : I was just curious as to whether I'd even be able to get a mortgage with my current salary as I didn't think I would

Damn that was hard to reply with multi-quote turned off lol

Down south-east atm so house prices are in the region of 160k and you're lucky to get a 2 bed flat I don't mind moving a bit further afield as long as I can find a decent job, I'm in IT so hopefully shouldn't be too difficult :confused:

Whatever you do, don't try and borrow ￡160k on ￡18k annual income.

Interest alone on that amount would be ￡10,000 per year even on a conservative interet rate of 6.25% You can't afford that.

Either find a better paid job or somewhere cheaper to buy. Now you know why it's not uncommon for people to commute over 100 miles each way for those working in the SE.

Cheers
1. Clear debt.
2. Clear loan.
3. Save 10% deposit

By the time you have achieved that you may find house prices have dropped nicely into your affordable area.

You should do more than think about it:

Save Save Save

(and pay off loans, cc, etc as you mentionned)

Down south-east atm so house prices are in the region of 160k and you're lucky to get a 2 bed flat I don't mind moving a bit further afield as long as I can find a decent job, I'm in IT so hopefully shouldn't be too difficult :confused:

160k for a 2 bed flat? You were lucky!

I read somewhere that some beach huts have come down in price to 90k.

Only a few more years and you could maybe afford to buy one?

Down south-east atm so house prices are in the region of 160k and you're lucky to get a 2 bed flat I don't mind moving a bit further afield as long as I can find a decent job, I'm in IT so hopefully shouldn't be too difficult :confused:

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I take it your also aware that they wont give you anything even close to market value for it either (Usually offer you close but then drop substantially following a much lower valuation by their appointed surveyor)
If the OP has gone to one of those companies which buy off the desperate. But in this case the OP has no mortgage and could sell normally and rent elsewhere. Perhaps the OP would clarify?

I take it your also aware that they wont give you anything even close to market value for it either (Usually offer you close but then drop substantially following a much lower valuation by their appointed surveyor)

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Does any one know how to get on the property ladder and find what I'm looking for?

Thanks for help

Self employment does require a certain amount of drive and desire and in the this market you have to be pretty bloody clever. You have to ask the right questions at the very least.

You're not going to affect my business at all so I don't care how much advice I give but I you don't seem to have the gall :confused: Sorry.

Thanks for the advice Dozzergirl. I really appreciate it.

For example http://www.lowsorkney.co.uk/propertydepartment.htm

two plots of land there i see, although that would be a new build, i can assure you there are many properties needing renovation

There are also other benefits like little to no crime, ie you can leave your tools on an unlocked site and be sure they will be their the following day

Skilled builders are also very much in demand, so if you wanted you could earn that way as well

Thanks for your advice. But I prefer to stay where I am at the moment just because it's so cold down there.

I'm thinking don't give up the day job

Self employment does require a certain amount of drive and desire and in the this market you have to be pretty bloody clever. You have to ask the right questions at the very least.

You're not going to affect my business at all so I don't care how much advice I give but I you don't seem to have the gall :confused: Sorry.

Well up here property is fairly cheap compared to south, and there are many properties available that could be renovated.

For example http://www.lowsorkney.co.uk/propertydepartment.htm

two plots of land there i see, although that would be a new build, i can assure you there are many properties needing renovation

There are also other benefits like little to no crime, ie you can leave your tools on an unlocked site and be sure they will be their the following day

Skilled builders are also very much in demand, so if you wanted you could earn that way as well

I personally think you wont find what you are looking for yet.

In Lincolnshire 30K would give you a 50% deposit on a 3 bed terraced(where I am anyway).Is the OP prepared to travel?

The poster means buying in ORKNEY

I would see a broker. To be honest with you 30k isnt going to go that far as everyone wants a deposit now, and in Bucks, you dont get a lot for 150k. Especially if you will need that cash for refurbing.

I personally think you wont find what you are looking for yet.

Don't quite understand what do you mean?

Could you be a bit more specific? Where do you want to start? How much money do you have saved, have you been to see a mortgage broker to see how much of a mortgage you can afford?

When you're looking, I suggest setting up searches in rightmove for the areas you're looking at and get it to email you results every day. Auction properties often end up on there too.

Thanks for all your posts guys.
I have around ￡30,000 of savings. I haven't seen mortgage broker yet.
I checked rightmove and like their website.
I am located in High Wycombe Buckinghamshire by the way.
Any more suggestions?

Prices are falling.

The longer you wait the more you save.

Could you be a bit more specific? Where do you want to start? How much money do you have saved, have you been to see a mortgage broker to see how much of a mortgage you can afford?

When you're looking, I suggest setting up searches in rightmove for the areas you're looking at and get it to email you results every day. Auction properties often end up on there too.

There isn't really any other options unless you know someone who wants to sell such a property.

http://www.consolidation-debt.tk/showthread.html?t=1045341

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