The Cheapest Flats For Sale In London In 2023

/ wanderingturnip
www.buymeacoff...
London's (not so) Cheap Flats!
I headed back to London but this time to look at flats. So I was down in the capital a few months back looking at cheap houses, and it turned out to be super interesting and one of my most commented on videos, I just knew I had to get back down and make another one.
I was looking for the cheapest flats that I could find in general, but also the cheapest in specific areas, such are very central, wealthy London
Looking at flats turned out to be even more interesting. The state of them was shocking, added into that the fact that they were all really small, one of which was literally just a room. But they also were leasehold flats, with the shortest being only 86 years. Imagine that, paying a quarter of a million pounds to only own it for that long.
The housing market is currently going through huge changes. Interest rates rising, mortgages doubling and rental properties becoming impossible to secure. This video ended up being a deep look into what is going on with housing in the united kingdom. From who owns the most amount, to the struggles of those with nothing, living on the streets.
#explore #invest #housing #london #property #housingcrisis #millionaire #rich #money #costoflivingcrisis

[@youngsaunaguy2390]

this video is brilliant, in an age where everyone online seems to be a multi millionaire and telling us we're just not working hard or smart enough, it was a breath of fresh air. You are a truly holding up a mirror to what a fucked up and selfish country we have become, keep up the good work

[@tm1rt2vv8i]

We haven’t ‘become’ selfish - the government have. They have put in countless building regulations, which has meant that we cannot build where we like, how we like (in keeping with the local architectural style, of course).

[@BladesReachh]

this was always going to be the result of a profit incentive economy

[@firefox3249]

​@@tm1rt2vv8iI'm pretty sure that a few stylistic regulations are just the tip of the iceberg.

[@mkf628]

yeah how to increase your productivity by 10000% in 3 easy steps

[@joeblogs6598]

@@tm1rt2vv8i Glad someone understand the nature of the housing crisis. It's a supply problem.

[@adamj.k.3894]

The sad thing is that I have lived here in UK now for 10 years. I am originally from Hungary btw. In these 10 years I have never been out of job, and managed to put aside a bit of money that after a while became enough to have deposit for mortgage. I am living in a shared house ever since I moved here. As a single person and having 35k annual salary, bank does not give me mortgage here in London with these hugely inflated house prices. System is rigged and it feels like you are living in a modern slavery where even though you work hard and long enough, but still not enough to buy your own place. I am thinking of moving out of London where I may be able to buy something for myself. They do not want you to own anything, but rent it so you will have to work to get enough money you can spend on renting. It looks and feels hopeless completely.

[@FannyShmellar]

London isn’t the be all and end all. Move up North and you can live in absolute luxury for what you could afford in London. 300k will get you a big 4 bedroom house with nice garden, garage and drive.

[@tigading2177]

sadly this is the system (cap!tal!sm) everybody loved and worshipped here in the U$+UK, just like turkeys voting for xmas, not realizing they ARE being enslaved. Very few people can afford to travel, eat, and live in L0ndon

[@Jo-pf9st]

Very wise words, totally agree with what you've said

[@pussygalore731]

Northern Ireland is way better, a lot of English are moving here, no water charges, no concil tax and free prescriptions

[@theandroids]

Yup move out of London. Its an absolute rip off. You get more bang for your buck anyway.

[@fazejustin2803]

no joke, that £700k property has the same kitchen cupboards as my soviet lithuanian apartment from the 1960s

[@MubeenMalik1982]

My property in Pakistan has a better standard than what I see here. Looks like lot of black money has inflated the housing prices

[@BobbinMcferry]

I still have the same one, too! in red. but with black and white plastic trim. none of that fancy pants chrome-plastic

[@Neongoddess76]

The housing situation is a disgrace. I'm shocked at how much people in London have to pay for a property in such a state. It's scandalous

[@Valueshooter]

this is what happen when the politicians sold out the country and its people.

[@ruzziasht349]

It's supply and demand, supply refers to the market's ability to produce a good or service, whereas demand refers to the market's desire to purchase the good or service. Supply and demand is often considered to be a fundamental concept within economics and is primarily used to describe the price and availability of commodities. The market sets the price and demand pays for it, no one forces them to do it.

[@simonspider]

750,000 parasites flooding into the country every year (most of which wanting to live in London) it the main reason for this country turning into an overcrowded crap hole.

[@dcoughla681]

Young people should not come to London for work unless absolutely 100% necessary. It’s overcrowded, impossibly expensive & crime ridden. It’s ridiculous to have about 200 people to view a room. Distribution of jobs & businesses should be around the country so that wealth is distributed.

[@cuteopiax1259]

London property prices are an absolute rip off. Refuse to pay it and move elsewhere.

[@katewells3755]

My grandparents bought a five bedroom detached house which stood on a half acre plot in London for £350 during WW2 when nobody wanted to live there. My parents inherited it and sold it for £36,000, having sold over half the back garden to a developer, in 1974. It is now on the market for over £6 million.

[@GoldiLocks-rm9lg]

WOW! That's mad

[@RDR1456]

Ooops!

[@floswason8776]

Insanity

[@RobSpeaking]

Where’s that

[@theandroids]

How are your parents coping with that mistake?

[@sudha4128]

Excellent video and reviews. Cant believe that so many in Londoners live in such filthy conditions, shocking !

[@victoriacorcoran1258]

I find it hard to believe properties in that condition would ever meet building inspection reports to complete sale at their asking price.

[@mihaelafilipescu5818]

The only people who are able to buy this flat are the council, they can afford to restore it and after that they will rented for five years around £500/week. To a temporary tenants, after five years they will be permanent tenants and the rent will be lower.

[@markroyds23]

Surveys are optional if you're a cash buyer.....plus even if you get a survay irs still at your discretion if you want to buy it unless it's so bad that a mortgage provider won't lend on it

[@tifrap]

Most of the properties that you looked at are at auction, so you should not be surprised about the condition of them. Properties at auction are usually being sold because the property has been re-possessed or the owner has died and probate is selling them. The reason that these properties are the cheapest that you can find is that the agent selling them has no interest in maximising the price or doing any work to make the property attractive.

[@Journey_to_who_knows]

They’re probably brought remotely by investors not even in the country who proceed to do nothing with them until prices rise where they are sold to the next one who does the same thing. It’s like the human centipede but with corporate twats selling things.

[@yatesy117]

Owners of property can't even be bothered paying for cost to pay cleaners to remove mould before viewings and have the cheek to ask to charge over a quarter of a mill. Shocking

[@eimeargargan2071]

Dublin Ireland has become flooded with foreign corporate investors. My friend we going to viewings to buy in a certain area and every open viewing kept seeing the same Asian lady so decided to ask her what’s up. She was sent from Chinese investor to buy as many properties at any price. There should be some government policy to stop this. People have started writing letters to the seller to persuade them to sell to a owner occupier and not an investor. It has worked for many so far.

[@LilyGazou]

This happened to Vancouver Canada. My friend was a real estate agent and said the investors bought nearly everything they were shown. It’s at least 75% owned by Chinese.

[@mariabettega3513]

China does not allow foreign investors so why should UK or other countries allow it. Contact local MP to stop this it will only get worse if the locals don't fight it.

[@llanieliowe794]

Qatar and Saudi own lots of property in London which they are profiting massively from. All they do with the money they get from these properties is put into huge amounts of oil extraction or modern day slavery as was seen in Qatar.

[@mariabettega3513]

@@llanieliowe794 What a screwed up world it is.

[@callancoventry3843]

Same situation in Sydney, Australia. Most big cities in the western world have become unaffordable for even the top earning locals, as they are being outpriced by the 1%er Chinese. Little incentive to stop it from the top end of town because they are the ones who gain the most from this though.

[@celestialasmr9624]

As a junior doctor renting a one bed in Hackney with my boyfriend (who is also junior doctor), I pay 66% my income straight on rent, after paying student loan. We can't save up to afford a deposit to buy. We're going to have to leave london next year. We already live in a relatively cheap part of london but we're being priced out. I dont know what tue future holds but soon all doctors and nurses are going to have to move out of london, unless theyre getting financial help from family. How can you have a capital city without any healthcare staff in it? It's bonkers and depressing AF

[@ScottyD17]

Does your trust not offer on site accommodation at all?! When I worked in the NHS many junior doctors and nurses lived on site in heavily subsidised accommodation.

[@celestialasmr9624]

@@ScottyD17 no, not where I work currently unfortunately. My previous Trust had accommodation which I lived in for a bit but it was in awful condition and not that subsidised. I had a tiny single bedroom and shared kitchen and bathroom with 8 other people. Besides, I'm 32 and want to start trying for a family soon, so I'd really like to be able to live in my own home with private living space at this stage in my life

[@esoteric240]

If you dont mind asking, how are you a junior doctor at 32? Did you start studying medicine late?@@celestialasmr9624

[@MissTeeTime]

You are classed as a key worker, there are actually housing schemes for key workers. Maybe look into it and see if you’re eligible.

[@RedRumble14]

Oh I thought It would be romantic to live in LNDN with special someone. It seems like walking to cool places around the city in the evenings doesn’t worth living in such a heavy conditions right? I’m also a junior, I doubt I will be able to pay for 1 flat comfortably. Probably the stress of tight financial situation is something I should not voluntarily take on me while I have a comfortable living in ma country?

[@Crimpycurls64]

My daughter rented a property for two years. It was ok but tired. She asked them for an inventory but they never did one. When she left, we scrubbed that place clean but we couldn’t change it’s tired appearance. When she left they tried to withold money saying that the place was filthy. It was far from filthy and it wasn’t spotless when she moved in. Luckily she knows her rights and they backed down.

[@wanderingturnip]

Oh god yeah classic move from them there. I’ve had the same thing. Tried claiming the oven wasn’t clean after we had made it spotless. I reminded them that when we moved it was disgusting after us asking them to clean it and had photos 😂 con artists

[@Crimpycurls64]

@@wanderingturnip so greedy. Like you say, you only need one property. Everything in this society is geared towards the rich getting richer and the working class paying for their mistakes.

[@AO-oy4rf]

They did that to me in Sydney too. Put me totally off renting again.

[@Crimpycurls64]

@@AO-oy4rf I can imagine. Really important to take pictures of everything before. It’s just pure greed.

[@marvinlewis5591]

Same happened to my daughter. I decorated top to bottom before she moved out. It was pristine. They still withheld the bond. Never trust estate agents.

[@katanyajason3316]

Most of these places have mould problems. It's extremely hard get rid of it in a flat because of the other flats and because he mould is in the brickwork. People underestimate just how much it can affect your health.

[@aesaphyr]

I wish your comment could be printed and framed and displayed around the country. The landlord from whom I rented is a portfolio landlord and she bought the property (which I later rented) in poor condition with lots of mould. The workmen told me about it a year in when they would come in for servicing or other jobs. Basically, they cleaned up the mould, redid the flooring and repainted everything... and 2 years later everything bloomed out in mould again. Furniture, walls, floors. All my belongings just got ruined. It's been a year since I moved out and my stuff is still cropping out in mould - and it's thick stuff that carpets your whole belonging, it's not just a few spots. It grows on plastic, rubber, silicon, everything. Landlord acted really surprised when I first reported the mould issues. But in hindsight it was obvious, the stairwell was permanently wet, there was mould visible in the walls of the building's common areas etc. Usually the worst of the mould happens at this time of the year, so I sure wish the current tenant good luck with this... another poor soul's life about to be ruined by mould.

[@lbunnygordon1133]

I know this place is riddled with mould all llord did was take a derelict shell shove white paint up and got it approved as rentsble, since came here have had worse health issues, most walked in and out I was only taker as so desparate, council are totally crooked they back up a ruthless llord

[@Journey_to_who_knows]

Britain is just a giant pile of mould and cocaine.

[@ukisa3rdworld586]

​@aesaphyr it grows inside your body too

[@aesaphyr]

@@ukisa3rdworld586 It can but that is less likely unless you are elderly or very young, are immunodeficient in some way or have lung problems like cystic fibrosis. Most of us get unwell from allergic or inflammatory reactions to mould spores rather than mould colonisation inside our bodies. Regardless of the exact mode of illness, though, mould is a serious health hazard and landlords who put tenants in mouldy homes should be prosecuted and lose their licence.

[@featmyself]

The London living situation is disgraceful… my first room in London was a shoebox where I had one broken cupboard and spent a year storing my things in boxes because I had no place to unpack them. Additional tenants included plenty of mice and the property was illegally rented to more people than it should’ve. My second flat was amazing at first, only to discover later that severe mould was just painted over and due to faulty plumbing the entire living room was unusable, with pieces of the ceiling crumbling and falling to the floor and new leaks appearing all the time, not to mention the electricity short circuiting all the time - you couldn’t run a washing machine and boil the kettle at the same time… I really lucked out with my current landlady, she lives outside the country and is renting out the flat she grew up in and it’s in fantastic condition, regular repairs and she’s the biggest sweetheart ever, but this is such a rarity in London…

[@essoteric]

Don't forget the impact on property availability because of AirBnb. It's absolutely mad. All those flats were unliveable. On top of the price, you'd have to invest another 60k-70k to make it liveable. Madness.

[@wanderingturnip]

Yeah for sure. New York has just decimated air BNB and I think it’s great 👍

[@cwilliams9148]

Blame the government, landlords are double taxed, and just not making enough money to justify the second job of being a good landlord.

[@hassanamir387]

@@wanderingturnipI mean there’s 3.5 million houses/flats/dwellings in London, out of that there’s only a few thousand airbnbs, so a tiny percentage. I’m not sure that’s really affecting the housing market that much…

[@gertiepackbiers6578]

We bought a house like that and redid it. Think more like 150k to redo. That's if you do all work yourself and settle for lesser quality in finishes to have better quality in the things that really matter like new plumbing and electrical.

[@le_th_]

While I do agree with you, I can also say that Airbnbs are usually in good working order, well maintained, etc. so at least someone is maintaining these properties.

[@healthybodyhealthymind7756]

This breaks my heart. I used to live in London then moved back to my country. Things seems to have gotten worse. What a disgrace! Shame on politicians.

[@tm1rt2vv8i]

Yes, the government have put in so many building regulations and have doomed the future of this country.

[@rollyunicorn]

One of the reasons things have gotten so bad is that Councillors and other so called public servants, or should we say public overlords, concentrate on giving themselves ever higher wages instead of using the ever increasing Council tax on upgrading their properties. The top Councillor in Croydon is paid over £700.000. Three times what the Prime Minister is paid! It's fairly easy to see where the problem is. And then you have people like that moron Sadiq (Khant sort anything out) Khan just adding to the misery.

[@patrickryan5570]

Firstly - hats off to the presenter for I like his personality and he has a very good confident chatty style of communication - The London property market is insanely expensive - I moved to London in the mid 1980s and was extremely fortunate to find the job of my dreams in restoration of mainly listed buildings - Nearly four decades later I'm still in the same job - My timing was good for I able to afford my first home after five years of renting a room in a shared flat with a rent of only £30.00 per week - I guess I was one of those lucky baby boomer people - I do feel sorry sorry for the current younger generation for they have been priced out of the market - My politics are centre left so it would be great if London could develop a really radical affordable housing policy for workers on relatively low income - Also the shocking rise in homeless people is an issue that needs major help as we need more homeless shelters.

[@lolitapitpong3826]

Champagne socialist 😂

[@ojbeez5260]

Almost all housing in the UK is well below par but insanely expensive. In other countries it is so much better. The UK is crazy insane for house prices compared to income.

[@johnmitchell2269]

Watch this guy's other videos. You can buy super cheap houses in England. Plenty of affordable homes all over Scotland, Wales and parts of Northern England. Everything is expensive in London, but then almost every capital City all over Europe is expensive.

[@adamek9750]

@@johnmitchell2269 yeah cheap houses where the whole population has deserted the town, homes used for weed growing, houses where you would be the only inhabitant on the street having to fear being broken into

[@johnmitchell2269]

@@adamek9750 Those are the super cheap ones that go on auction for around 5 grand. But 50 grand houses are also on the market.

[@cultfiction3865]

@@johnmitchell2269You cannot buy cheap houses anywhere England if you are interested in talking facts instead of fiction. Those houses at places like Middlesbrough and Horden aren’t especially good value considering the state they are in. Try looking on rightmove at what the same amount will buy in the USA if you believe that England has cheap housing. Also it’s false to say that any city in Europe is like London for prices. Let’s just take a random example. Prague/average house price 155k euros. London/average house price £533,687. And then add to that the fact that the average property in Prague is probably far bigger than what you would get in London. England is a massive rip off we might as well talk facts I’ve seen too many lies in comment sections

[@andriiv7033]

Just don’t write what you don’t know about. Take a glance at Lisbon and I’ll promise you a surprise if you think that is the UK only.

[@christopherbrown6725]

I love this guy. So honest, genuine and well-meaning!

[@kedeglow2743]

I live on a small farm in the middle of Missouri, USA, but I find it so fascinating to see how others, especially in different countries, live. These flats remind me of old episodes of "How Clean is Your House?". I would loved to have seen what the flats over top of these crumbling, filthy, moldy flats looked like(?). Are other parts of these buildings livable?

[@c.a.7844]

Great video that highlights the shocking situation of housing in London. From my experience as a renter in London for some time now, I'd add a few things I've noticed myself: 1. None of the holes you visited (because, lets be honest, none of them except maybe the last one counts as a 'livable') are being sold to people who plan to live in them. I can guarantee you that 99% of them are being sold to people who likely plan to rent them out and are either rich enough to throw enough money at them to make them livable, or simply don't care and know that they will find tenants for the flat, regardless (usually taking advantage of very poor or undocumented people who they know won't/can't complain). 2. Even if Landlords find no tenants, the very nature of London's housing market (an acute shortage that is only getting worse) basically guarantees that the property's value will increase over time, so they can essentially treat any flat they own as a 'safe' investment that will always grow in value, no matter how volatile financial markets get (unless there's another catastrophic collapse of property values, but that would never happen twice... right?). 3. A lot of the 'higher end' flats (like the last one in the video) are aimed at wealthy foreigners such as obscenely wealthy finance workers who are in london for a few months, children of billionaires being sent to study at a London university for a year, wealthy migrants, etc. I'm sure a few of these are also being sold to Landlords who aim to cater to tenants like these, but I'd imagine most of them are being sold to the kind of people who can afford to drop a cool £3M on a flat without even thinking about it, even if it's just for a few months (and, if you think about it, it makes more sense to buy a place like this for £3M and then sell it for the same, if not more, when you move out 6 months later than pay rent). The decoration of that last flat is a dead giveaway to me: reasonably nice (if bland) modern furnishings that wouldn't look out of place in a very up-market hotel room - the kind of inoffensive furniture that would be servicable to someone who is incredibly rich but is only staying in London for a few months. So yeah, it's pretty crappy for £3M but, as a temporary place, I'd imagine it's perfectly servicable for them. 4. I don't know if I 100% agree with your theory at 26:34. While I'm sure a bank would be frustrated to foreclose on a property, they still end up taking ownership and selling it to recover their loss, so one way or another they get paid back - the only exception to this would be if there's another property crash and the property can't be sold. Similarly, there's risks with owning properties to rent that might be unpalatable to these companies - the Grenfell disaster being a perfect example of this. If a company bought/built a tower block purely to rent out and there is a similar disaster that affects it (either directly, or at another building that highlights a massiverly overlooked risk that they suddenly need to pay to fix), then these companies would be on the hook for that loss. That said, it may well be that the benefits of renting outweighs that risk, regardless: the company gets a steady income, they can more easily replace a tenant that defaults than a mortgage owners, and they also keep ownership of the property, so I can see it as a win-win situation for them. It does remind me a phrase I saw somewhere (it might have been a KZbin video?) - "you will own nothing and be happy for it", it looks like every company is wetting themselves at the thought of being the overlords of an underclass of people who never own anything. In this scenario, most people just borrow property/pay for services, and they're too impoverished to afford to buy it or are blinded by the low apparent up-front cost to realise they're being ripped off (see Microsoft making Office a yearly subscription instead of a one-off purchase). 5. Speaking of Grenfell, the situation with cladding in the UK is also an absolute disgrace - many people who can afford to buy a property might then discover it has cladding and end up being liable for the renovation works needed for the building, which can wipe them out financially and force them to default on the mortgage (and, naturally, the developers and contractors who put the cladding up face no liability). I've also noted when looking for rental flats that some estate agents are vague about cladding - I have spotted property ads that say the flat has cladding, but when I asked the agent about the EWS1 certificate, they would just say it "passed" or "it's fine" but would refuse to elaborate further (the EWS1 is not a 'pass/fail' certificate, it's got 5 grades to indicate risk - two of which are for cladding that is flammable). I don't know if this is borne out of dishonesty or ignorance, but I shudder to think how many people have been tricked into renting/buying flats that, at best, might cost them a huge amount to rectify (if buying) or, at worst, could potentially be a repeat of that horriffic disaster. 6. It's not just the working class being squeezed, a lot of traditionally 'middling to higher income' earning professions (junior doctors/accountants/lawyers, etc) are also finding that they can't afford to buy (or even rent) their own place in London and are having to either share a flat with friends/strangers or commute in instead. London is really just becoming a playground for oligarchs (both domestic and international) at this point. Gosh, it's almost like commodifying a basic human necessity like shelter without any public safety net (like council housing, regulations, etc) has an overwhelmingly negative effect on the vast majority of the population! Who would have thought such a thing after the stunning success the UK experienced when it prviatised the energy, water, and rail industries?!? Wow, sorry for the wall of text, this started as a couple of minor points, but once my blood rose it grew into a massive rant.

[@snowfall7557]

"you will own nothing and be happy for it" - that´s Klaus Schwab´s mantra. He´s the leader of the World Economic Forum, Agenda 2030. And it is an agenda indeed. They are pushing hard to make basic living unaffordable (heating, rent, lockdowns, etc) to turn us into slaves basically with no choice but to comply (for food stamps, benefits)

[@mrstephenpariah]

There is hope, must be millions of us desperate for change now. Many with different symptoms of the same disease. Thanks for taking the time to write this.

[@lesliesmith5797]

Thoroughly enjoyed your rant 😊. By the way, what is cladding? When you are ready for you next rant, I will be waiting. 🌸

[@pjay951]

Yes, what is cladding?

[@garywayell7211]

The first flat you saw in London needs a rip the guts out,the cost of tradesmen in London is very expensive,it sold for £380500 will need about £120.000 to bring upto standard, so that half a million before you start,then you will have building control involved they drag there feet,then theres parking restrictions everywhere in London,another problem. They say its grim up north,but i have open spaces and a lot cheaper housing stock,ill stay put and visit London occasionally,mental health and well-being is so important

[@nigelwatson2750]

It will cost far more than that! kzbin.info/www/bejne/Y164nnalqK16r9U

[@lanialost1320]

Exactly. It's not some cosmetic fixes like new tiling that Wandering Turnip thinks. Everything needs to be stripped to the studs. Then you still don't know what going on in the flat above. No point doing all that work if the ceilings are going to get ruined or cave in.

[@jordanhoggart3415]

Totally feel it when you're disappointed in the lack of care people have when they throw something to market. Amazing how some people can put a place up for 700k straight faced while its still dirty. And its a flat too, not like it would take an age to give the place a basic clean! I've recently became a landlord myself (up north, cheap fixer upper that was unsold for a while) and I think a golden rule should be if you aren't comfortable living in it yourself, then you shouldn't have the cheek to try and put other people through it

[@sallyr4057]

Thank you so much for your great work showing the reality of the housing crisis. We so feel for young people today. My hubby and I have never earned big money, but back when we were 22 we could buy a tiny flat in Morden and start on the housing ladder. (In 1981) There’s no way we would be able to do that today, if we were just starting out, earning what we do now. Times have changed so much. It’s not fair. (We are now in our 60s) We own a very modest house; it is enough for us, and we have no mortgage. Everybody who works hard, or endeavours to, if they are able to, should be able to get the chance to own, or rent, a good standard of property. Sorry but I blame the government. They have no idea how hard it is for young families today. Thank you for shining a light on the whole housing situation today. Keep up the good work. 💪

[@spencerosei2616]

In this life timing is everything.

[@h0td0gwater]

[@davebnly]

hi, Sally. The government know exactly how hard it is - they just don't give a sh** about the peasants.

[@johnmitchell2269]

Property prices began to massively increase in 2002 and kept on increasing every year till 2021. No government had anything to do with that. Market forces. The issue (when it comes to the government and property) is a severe lack of affordable housing (social housing). But you can't get a mortgage on social housing, meaning you never get on the property ladder. A solution, would be to limit the number of properties people are allowed to own. That would be a good start. Property prices have been going down since 2021 (which is good for first time buyers) but interest rates are currently high. At some point, when interest rates drop, it will be easier for people to buy their first property.

[@javed4058]

@@johnmitchell2269 wrong government had plenty to do with it they caused the housing crisis was done on purpose and immigraton of course at insane levels did not help as pushed the property prices sky high so yes a huge proportion of the blame is on the government

[@paulbrown5839]

Tip 1 for viewers - dont buy anything with lease near 80 years. They dont give mortages for 80 and under - so it becomes very hard to sell (unless you buy the freehold which can be hard/pricey if the freeholder is not around). Tip 2 - if they say cash buyers only , it is probably because banks wont give a loan for it (see Tip 1).

[@rfs55]

Why is there a lease? I'm from U.S. I don't get it.

[@hylje]

@@rfs55The landlord has split their property into leases to dole out to people. Feudal things. It’s also used for multi-unit buildings where each apartment is not its own property, but a lease from the building corporation (or again a landlord). Pretty sure this is also a thing in the US, though less common.

[@silviodeangelis1342]

@@hylje With very specific exceptions it is only a thing in the UK along with many other ridicolous medieval rules and laws.

[@hylje]

@@silviodeangelis1342 You can lease land and properties in much of the world. What’s special about the UK is how common it is, and how Byzantine the whole land system is (for lack of reforms done elsewhere).

[@ExplorewithSarahlouise]

Depends ppl will make money buying cladded houses cheap and selling when re cladded

[@Betegfos]

Moved to London from Hungary in 2008. It was shocking for me as I had to live with 5-10 different people in very poorly maintained house. I though London is going to be full of men wearing a tuxedos and a cylinders, instead what I saw was a lot of homeless people and junkies. On top of that I had to pay hundreds of pounds each month to share a room with 2 other people. I could not believe, that London was like that. It was like living in a third world country literally. Eventually I got my own room in house and that was alright for a while, until I got fed up with paying half my salary on rent and left England. It is insane that it is normal in the West to live your whole life renting. The pressure it puts on you is enormous and can hurt your mental health and wellbeing. Some massive changes need to be done in how housing is handled.

[@Willwantstobeawesome]

a lot more normal in london than outside but the state of the country is pretty dire either way

[@bendover-bz4bc]

Every western country is rent. Only poor countries have more people owning the house than renting

[@carls7860]

Watching this cements my view that after 21 years in London paying for the most part ridiculously high rents that meant I was unable to ever have a savings account or save for a deposit, I made the right decision to leave and move north in 2018..Initially I was living and renting in Carlisle as I moved there for work and have been living there since.. I prefer Newcastle and I've just had my offer accepted on a very nice 3 bedroom freehold house in Gateshead with garden and conservatory for 128k.. living in Newcastle/Gateshead gives you great culture, good quality of life, great beaches within a 30 min metro ride, a low stress airport rated 3rd best in the UK and much more.. I was so caught up living in london when i was there.. you think it's the be-all and end-all.. i thought I'd never leave.. I did.. now I'm happy to visit and have a great time/it's all so familiar.. but I'd never live there again.. it's a total mug's game !! And I was a mug for 21 years.. get out and look elsewhere! Glasgow is wonderful, Manchester, Liverpool.. with so many people now working from home you don't have to be chained to London or the south in general.. my younger brother has been living in London for 14 years now.. I'm advising him to get out by the time he's 40 in 4 years if his plans don't come off.. I'm from the Isle of Wight originally and some of my family still live there.. life is a struggle there with empty shops/charity shops etc but they are in the south..it's ridiculous what my youngest brother can buy for him, his partner and their new son vs my house in Gateshead.. paying 190k for a tiny 2 bed flat ..

[@johnballard6725]

You were smart to leave London and head north to buy !

[@yaggayaggaya9918]

I mean now all those cities are becoming just as expensive as London because everyone wants to move up here.

[@samdinnage88]

Who on earth would leave the London or the south and move up north. Its a dump up north 😂

[@brookewatson7506]

Yeh all the southerners moving to newcatsle/ Gateshead has now meant us locals can’t get on the property ladder 😅 good to see investment in the city though I suppose

[@ohhimark3691]

My sister lives in Newcastle and i loved it when I visited! Truly an amazaing city, she has been there for 5 years almost and is now saving for a deposit for a house with her boyfriend, its lovely

[@1962drwill]

Depressing but a great film and very well researched.

[@Andrei-hq9jd]

I live and work in London, actually work with luxury housing, so most apartments I manage are 2 million £ and higher. I rent in Kensington with my partner and our rent is 4300£ for a two bed apartment (quite large 1000 sq ft, renovated recently). Needless to say, If I wouldn't be quite succesful in my job and also quite lucky in some other ways in my life there isn't a chance of me living in this sort of housing. I used to work in 'regular' housing and It was very depressing. I would see people settle for horrible homes just because they had no choice and they wanted to be in London. Hell, I used to live in HMOs myself, just made it work. The upside with luxury is that my clients may be paying a ton for their housing but they can afford it, they are celebrities, high level professionals or daughters and sons of wealthy families. London has given up on regular people a long time ago that's simply a fact.

[@Betegfos]

Leave London for the pakistanis and the rich arabs. England is dead, we better accept it now. Long gone the days of mass murdered Churchill and the British world dominance. There are 6 billion brown people and we still call them minorities. It is better to accept that our grandparents died for nothing. Communism has won and maybe that is the way it should be.

[@jamesharris4008]

I thought the first flat in Maida Vale was bad, but it turns out that was the best one! They just got worse and worse, absolute dungeons. I'm a Londoner and left London over 20 years ago, fortunately I always seemed to move at the right time so I was lucky. I live in the North now, and I've no idea how young people manage down there. They were much simpler times when I was younger,

[@josoapification]

My landlord in London used to rent a room in the house we shared . It was the first property he bought in woodgreen. For £60 000 in 1998. This house which was modest was valued at £400 000 in 2018. He now lives in a gated community in Sussex. And now has a portfolio of 25 London properties. My house share rent was the cheapest I could find in 2011. I used to pay £400 a month for my room in London. With volatile market prices. I wouldn’t buy anything in London at this time. Anyone who got on the property ladder early in London are living like kings today . I knew a serb called boban. He got an inheritance payout from his father in 1988. He used it to buy two properties in fulham an end house and the property next door. Boban lives in a mansion in the Czech Republic. Driving a Mercedes SUV. And has never worked since. He doesn’t have to . He has fourteen rooms rented bringing him in well over £ 100 000 a year.

[@cashkitty3472]

Yes but you further that average salary back then was about £20k

[@lesliesmith5797]

Can’t make money in their own country so go to the UK and take advantage of everything they can. 🤮

[@bennymarshall1320]

Move to Glasgow, beautiful city and very affordable

[@NianLisa]

I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Evelyn Infurna. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.

[@NancyH-mi6xc]

I know this lady you just mentioned. Evelyn Infurna Services is a portfolio manager and investment advisor. She gained recognition as a former employee at Goldman Sachs; a renowned investor she is. Evelyn Infurna has demonstrated expertise in investment strategies n has been involved in managing portfolios and providing guidance to clients.

[@SandraElliot21]

I went from no money to lnvest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Evelyn Infurna. I am at $128k right now and LOVING that you have to bring this up here

[@DannielleRosales]

Evelyn Infurna Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's

[@Annette_Lisa]

This is interesting. I heard a lot about the same person not long ago, please how can I contact her?

[@NianLisa]

SHE IS ON TELE GRAM.

[@janmargaret7972]

I live in East Yorkshire. A friend of mine lived and worked in London. She had a two bedroom council flat over looking the Thames which she bought on Right to Buy. When she retired she sold the flat and moved 'Up North'. She bought a large detached three bedroom bungalow with a huge garden overlooking the countryside. I think she paid about £250,000 for it. She also bought a house to rent out to give her more income. I would love to know how much she got for that flat in London.

[@rememberkronstadt5497]

left a right to buy large two bedroom flat in se1 (unaffordable on retirement) and bought a detached house with two bedrooms four terraced gardens, stable, beautiful vistas for 45,000 euros. apologies, five years in heaven.

[@rememberkronstadt5497]

that would be portugal/spanish border

[@janmargaret7972]

@@rememberkronstadt5497 Sounds fantastic and great weather too.

[@tm1rt2vv8i]

Yes, but shes’s up North..

[@Ola80660]

She sold it for at least £700k minimum

[@StephenSmith-ge1qf]

Way back in 1999 I bought a tiny little house in a distinctly dismal part of Hackney. It was all I could afford and I had to work 7 days a week to cover the mortgage, bills, etc, and get enough money together to practically rebuild it, as it was a real dump. However, it made me a lot of money when I sold it just 6 years later, so much that I bought my next house for cash. Everyone I knew told me that I should kept and rent it out to build a "property portfolio", but I have always hated the idea of exploiting others to get rich. However, I sold up in the UK in 2014 and now live rent and mortgage free in a much nicer place, where my distinctly ungenerous pension allows me to live in relative comfort. I'd hate to be looking for somewhere to live in the UK nowadays, I'm totally shocked by the awful places and prices I see on this video.

[@wanderingturnip]

I personally find that very admirable that you avoided the pull of a property portfolio. We need more people like you that have the awareness, and essentially aren’t greedy because they can be 👊👏👍

[@jackbaldwin3649]

@@wanderingturnip Interesting. I understand your point but millions of people have a landlord, some good, some terrible. You hope you have a good or at least a fair landlord. I would not blame someone for wanting to be one to build wealth and a secure life.

[@jbond7]

So where should people live if they can't afford to buy a house? What about students who to to a city temporarily? Should they only be able to go to a distant city if they can buy a property? Otherwise they have to stay local and live at home. What about a couple starting out? There is nothing wrong with renting and being a landlord. It is providing a necessary service for many people. Fine if you don't want to do that; but your justification is rubbish.

[@JessicaMiller-pc4dj]

Social housing, we need a shit ton of social housing.

[@midgecooper1772]

There is a record number of landlords currently selling up due to rents not meeting their btl mortages and other costs. It's become a losers game for many landlords, apart from the big players of course.@@wanderingturnip

[@madinp1177]

Your experience about a lack of "sound landlords" echoes mine. The best landlord I ever had was still greedy af. During the pandemic she dared to play the woe is me card for being a "single mother with outgoings you couldn't imagine" when my housemate (HMO) asked for a reduction in rent to reflect her reduction in earnings. Yes, the person in their late 40s who owns three properties across London is the one finding things difficult right now, not the 20-something paying 55% of their salary on renting a ROOM from them.

[@ralucaberceni8903]

she should have cut down on her outgoing by cancelling her netflix subscription.

[@mydogeatspuke]

Social landlords are no better either. They legally can't raise rent more than 10% once a year, but you best believe they do that as soon and as much as they can. And they have no interest in fixing a whole host of issues, or adapting for disabled tenants. They hide behind the fact that they're not really regulated, and your complaints won't go anywhere. They'll tie you up in circles for years and then tell you to just go private if you don't like it.

[@leighirvine]

👏👏👏👏👏

[@YorickReturns]

@@mydogeatspuke "Not really regulated", hahahah. Housing is one of the most regulated sectors of the economy, and, as with all other sectors of the economy, the regulations almost always increase instead of decreasing. Did you know that the number of rental properties on the market halved under Boris "F*ck business!" Johnson? Large parts of the country are practically empty, but we have a housing crisis. It is truly astounding.

[@mydogeatspuke]

@@YorickReturns I'm talking about social housing, not housing full stop. The clue was in me saying "social housing." Make a genuine complaint to a social housing landlord, see how far you get. Escalate it to the housing ombudsman, see how far you get. I'm speaking from experience, not "everyone knows" nonsense. Wind your neck in.

[@PrairieDogFan]

Born and raised in london. It’s changed a lot but yeah…this is unfortunately the reality for a lot of people. This was a great video. Thank you!

[@surfaceten510n]

I see London is living up to its reputation that the streets are paved with mould. (not a typo)

[@frankcarson358]

mold

[@blackinton2526]

Mold and mould are alternative spellings of the same word, but mold is an American form, while mould is popular as a British spelling.

[@SpuddyWesker]

@@frankcarson358 Mald

[@encoreunefois1X]

I have been renting from a private landlord since 2015 right in that South Tottenham neighbourhood you were in. It's a pretty decent 1 bed with garden. The rent was a about 20% less than the market average when I moved in and he has not raised the rent by even a single penny since then. I do indeed feel very fortunate.

[@fredflintstone1428]

If you ever wanted to see the sad state of economics in the UK, just look at the ridiculous prices for junk. I did my stint in London between 1986-1998. The only thing that's changed, is like everywhere, everything is dirtier, dingier and ready for a massive price correction, you would not believe. In 1987 a flat in SE19, Upper Norwood (6 one-bed flats within a beautiful period 1865 house) sold for £67,000. After the crash in 1991, re-possessions began and I picked it up for a song at £17,000 in 1992. It's probably worth somewhere between £350-400K now.......absolutely ridiculous.

[@fishingdandan4788]

Nice little pot for you

[@vinnievega9843]

Believe me it’s worth a lot more than 400 k now

[@fishingdandan4788]

@@vinnievega9843 really? A one bed in Upper Norwood? Just curious

[@vinnievega9843]

@fishingdandan4788 yeah really, we moved out of London in 2020 and was paying 1250 a month for a 2 bed flat worth 375k then same property 1700 a month now valued at 550k in 3 years. Moved to Italy got a 4 bed over looking the sea for 800 with no council tax.

[@zorrodm]

@@vinnievega9843where in Italy?

[@jom6829]

Well that was horrifying. As for renting I can tell you that even the big housing associations, such as Peabody in London, would rather sell vacant flats than rent it out to people who need housing. The whole system is broken our this and successive governments don't do anything about it. As for big corporations buying up housing stock purely to rent them, then yeah, we're doubly screwed.

[@seroma4]

I think this is the best video I watched in 2023 so far! I really wish this housing issue to be pushed so hard that the government can not avoid but do drastic changes to help people live in decent conditions for fair prices!

[@wanderingturnip]

I appreciate you watching and commenting thank you 👍👍

[@ShoshanaBrand]

You are naive beyond words. The Government is the one that created this situation. They don't care about the people; they steal from them.

[@madeleine2631]

To add to your HMO point, if you rented out an unlicensed HMO, you can be owed up to a year's rent back! And if they didn't put your deposit in a protection scheme, you can be owed multiple times the deposit back.

[@Eheh980]

The housing crisis is horrific in London. My landlord is taking the property back and increasing the rent. Absolutely unaffordable for my partner and i with 2 children. The rents are now at least £1000 more than we can afford even with help from the council. We will be homeless and in hotels, a hostels/b and bs. If we leave london we lose jobs. Its so difficult. I never envisaged this situation and its this way for thousands currently.

[@plejady]

You should think before you both become a parents

[@Eheh980]

@plejady you're so right. I've failed. Not being able to afford to pay £3,600 in rent evey months is definitely my fault. It has nothing to do with the government, housing law, rent caps ect and how working people are treated. What's wrong with renting a home and working and having a family? I wish I was as Intelligent as you are. Do you love in the UK? Do you know what's actually going on? I hope you have not failed as I have and live a wonderful life. Thank you for your comment. If my only purpose in life is raising two children you have taught me to ensure they are raised with more insight and compassion than you can muster. Unfortunately I'm one of many thousands right now. God bless.

[@222o-u3t]

@@Eheh980He’s an illiterate nobhead while still somehow being fully English, don’t listen to him

[@Swan7094]

@@Eheh980Hey, your still breathing right? Think about what you can do, the future is still ahead no? What are the possibilities you can make things right with your family

[@Eheh980]

@@Swan7094 I was being sarcastic above. I don't believe for a minute that I'm a failure. The persons comment was out of touch with the reality here in the UK. However, the thoughtless person that I am having children and renting a home is no longer in this situation. I never give up. Ever.

[@rynb4868]

Growing up, my family lived in a rented house for 20 years owned by Grainger and not ONCE did an inspector come around to check the condition. The house ended up similar to the conditions of the houses you show here. Parents eventually got evicted by Grainger (but by a massive stroke of luck now own a small house) and I saw our horrible rotten old house get sold for £400,000+ as "needs complete renovation"

[@chrisbleeds]

Didn’t think I was that bothered about the housing market in London. But I’ve just sat and watched the full video, very interesting. Just recently found your channel, some great content, keep it up! 👍

[@ariescustom]

So glad to live in Scotland and ACTUALLY own my flat. Leasehold is a joke.

[@abie3723]

I never heard of leasehold before. This is insane

[@freedomm]

In Kenya leaseholds are 99 years. But (allegedly) easily renewable by whomever owns it when the lease expires.

[@toriladybird511]

​@abie3723 It's because of flats.. In the first case it's a house split into two. Normally the Freeholder has the ground floor.

[@chinchowpowpook]

The whole uk is a joke

[@trulyexorcise2918]

My lease is £10 a year , there is 940 years left on it.

[@JohnnyinMN]

I live in one of the remotest parts East of the Mississippi River in the U.S. and echo the same opinion of how can these even be available for rent by local authorities? What a shame previous tenants were not responsible for better upkeep. I cannot imagine living so close to one another, but I am fascinated by the history and architecture. The neighborhoods look like something you see in movies and are beautiful in their own way. Hope things improve in the future.

[@mairedaly4926]

I have a theory that certain cities go 'nova' economically... they become so expensive, so out of reach of 'key workers' it begins to cost 'society' and the national economy, so that the city begins to enter a decline (black hole) When a small amount of people, own all the land, & garner all their income from rent... that's a feudal economy

[@BenSamuel-d6l]

Feudal is EXACTLY what they are aiming for.

[@lillylake]

The council waiting list wasn’t so high when I got my flat, I got made homeless in 2003 and within a year in temporary accommodation I had permanent housing. Now the waiting list for permanent housing in most boroughs are 16-20 years, probably more.

[@lbunnygordon1133]

Couldnt have been London Was told 30 years ago a 2p yr waiting list so rented a room in a dump all my life now in one where utilities turned off in freezing winter that s what have to lookforward to again I hope as an asthmatic will just die

[@Chanel95-d6u]

There used to be what was known as ‘key money’ for council properties. Basically you paid someone who had a flat or council house ‘under the table’ to put your name on the tenancy. You can’t do that now, as councils cottoned on to what was happening.

[@terencemullins1422]

Mass immigration

[@lbunnygordon1133]

@@terencemullins1422 sadly some truth in that I m not flavour of month as an asthmatic with severe trauma and the resttold not vulnerable if homeless at 63 with literally zero! Yet someone can come here bring whole family and are given nice place to live with zero intention of their wife working etc, yet I ve worked from 18 to 60. My life is over to be honest but then noone gives a damn

[@val834]

When I moved here 10 years ago I thought I'd never live anywhere else in the world. I couldn't believe I found my place in the world, somewhere I felt at home. Now I'm 30 and the realisation this is not possible makes me feel so depressed, it's kind of traumatic on a psychological, like being rejected from a parent, as objectively it doesn't matter how hard I'll work, I wouldn't be able to build a future for me and for the family I'd like to have in the place I love the most.

[@Victoria-gq8gt]

Please move again... you'll mourn the loss of your dream, but you'll find a place elsewhere and you'll adjust and then be happy. Please believe me... I've been there. Good luck!

[@ChrisRoutledge]

I'd want to know the underlying causes of the damp before going anywhere near these. Kitchens and wallpaper are trivial compared with rotten timbers and failed roofs.

[@ruzziasht349]

It's a damp country

[@SuperNevile]

If you're buying a flat, surely the damp problem will affect the whole building, and if that isn't fixed there's nothing you can do about your flat? If you own the ground floor and the roof needs fixing is it the person who owns the lease who has to fix it? Complicated.

[@SuperNevile]

@@ruzziasht349 Bit like Ruzzia.

[@ChrisRoutledge]

@@SuperNevile Indeed, which is why I'd want to know.

[@Chanel95-d6u]

@@ruzziasht349I’ve got arthritis. It’s definitely a damp country - gets inside my bones! Should probably have left years ago - London and U.K. But my life, by which I mean friends and extended family, was here.

[@Michael-wr1yy]

The 1st flat in Maida Vale was as usual a low unrealistic asking price which generates interest and not surprised it sold for nearly 100k more, after renovation there is still a good profit potentially especially if the builder ...I'm guessing...extends it

[@bullzdawguk]

As far as cleaning a flat before you move in is concerned, I have a suggestion. A basic contract signed by both the landlord and yourself. Include pictures in the contract, showing the state of the flat before you move in and when the contract was signed. It would probably be a good idea to have a timestamp on the pics, with both your signatures and the date on the back.

[@duncanbananatyne3890]

I think if they don't provide an inventory list then you can take everything (even door handles, maybe even doors lol) and they can't do anything about it (legally).

[@TheAntiqBoutiq]

@@duncanbananatyne3890and you wonder why rents go up.

[@leebay6093]

I’m from Tasmania Australia- this video was a real eye opener, how any owner can sell flats in the condition these flats are in is mind boggling, disgraceful, the prices are really not achievable by the large percentage, I feel for people everywhere, Australia’s same but the conditions of flats etc arenothing like these

[@thatonecityfan4360]

australia is bigger with a smaller population so most of the bad houses there get knocked down but here we can't let any housse go to waste like when i see the bad ereas in america the houses are burnt down because they can just build new ones but in uk it's rare too see houses like that since every house is needed i wish i lived in australiA

[@eckehareckbert2731]

​@@thatonecityfan4360a lot of snakes & dessert like for cheaper price in Australia, yeah

[@helenacrossbow1412]

@@eckehareckbert2731not all of Australia is desert. I literally live on the peninsular.

[@reniiiXD]

​@@thatonecityfan4360they could have knocked down the ugly brick houses in rows down, and build more space saving houses with better layouts. Typically English houses have HORRIBLE layouts.

[@jbond7]

The flats are being sold as fixer uppers. Why does a property owner have to fix up or even clean a place to sell it. If you want it nice, you pay more.

[@hilaryporter7841]

Brilliantly narrated video, loved the sardonic tone. Hope our two corporate political parties are watching too, they look after themselves; the people of this country are last on either of their priorities as far as decent housing policies. We have lost our way as a once civilised country and cannot pretend for a second that is what we are now.

[@Bond2025]

I didn't like the camera work, it looked like he was filming through a letterbox on zoom!

[@lkjadslkfjlaksj]

The best thing you can do is vote, and encourage others to vote, and understand which policies are likely to make the most difference. There are reforms the government could make to the planning and tax system to increase housing supply, such as relaxing planning law, making the planning system less ad hoc, and perhaps introducing a land value tax. But politicians are reluctant to make these reforms as those who believe they benefit from the status quo (i.e. existing property owners) are more likely to vote.

[@lkjadslkfjlaksj]

​@sdrawkcabUK I do think we should replace FPTP with approval voting (or PR, but I prefer the former). But even with two parties, they'll generally adjust their policies to what they think will get them votes.

[@Chanel95-d6u]

Don’t forget leases can be topped up - which I’ve done. It costs, but it depends on property value. Or you can get what’s known as a flying freehold - a flat that is freehold. One flat I bought in a converted house - we got together and the 4 flats bought the freehold from the freeholder. Just about do- able. We then formed a management company. Hope that’s helpful!

[@wanderingturnip]

👍👍

[@angelahines]

How do you top up your lease?

[@Chanel95-d6u]

@@angelahines Go online and read up, of go to a solicitor. I’ve done it, and it didn’t break the bank as badly as I thought.

[@CBEEBLE]

It would be good if you could show the EPC ratings for the properties. A lot of landlords are offloading old properties esp like the Notting Hill one because it won’t meet the minimum EPC for rental which will be Band C or above from 2025. The cost of bringing those properties up to Band C will be pretty exorbitant. So a lot of landlords are ditching them from their portfolios.

[@kotare86]

I reported my landlord to the council for not having an EPC (among other issues). Check back 1.5 years later and still no EPC despite renting it out.

[@henitinker8808]

That makes sense- landlords cutting corners as per usual. These are investments to them, not homes for people.

[@pink221]

I was about to comment on the £700k flat in Notting Hill, but that £350k Bayswater flat is absolutely horrific!! I don't know who would part ways with their hard earned cash to live in those conditions. It makes more sense to go a few miles outside of London and travel in if you want easy access to the capital.

[@carolinependleton8445]

I agree that Bayswater flat was absolutely disgusting,

[@paulbrown5839]

You are thinking about someone who has only 360K buying that flat for 350K and living in it. Thats not whats happening. A developer will buy it as a business opportunity having done research.

[@pink221]

@@paulbrown5839 That is definitely true.

[@meows_and_woof]

I’m from Glasgow and we bought the new build 5 bedroom house with huge open plan kitchen/ family / dining room and 4 bathrooms for £360000 and it’s next to the beautiful Forrest and 10 min by car to the city centre. London prices are insane

[@adamrandles4055]

Lionel Messi of the property game my friend, enjoying your videos. Remember the price flats with low leases are really like another £100k on top because you’ll have to buy cash as no bank will mortgage it and then you’ll need to spend thousands on renewing a the lease.

[@malcolmschenot6352]

I live in Los Angeles in the outskirts (far west valley) and in my building one bedrooms are $1695.00 (£1330); 2 bedrooms are $2195.00 (£1720) per month. Downtown in East Hollywood my friend's building has one bedrooms for $2200.00/month. Another friend in West Hollywood lives in a rent-controlled 2 bedroom for less than my one bedrooms, but newly rented units in his building are going for $5000.00 - $7000.00 (£3900-£5500)/month. Compared to New York, Boston, San Francisco, Seattle, LA is still considered pretty cheap, but obviously unaffordable. Lots of people in LA are paying over 50% of their income on housing alone. Our homeless are increasing every month, and people are one paycheck away from homelessness in many parts of the country. But...we would never get away with having all that mold in a unit here in LA. People would sue the pants (trousers) off you. City inspectors would be up your ass (arse) in a minute.

[@maryfrump7937]

Same in the Austin Tx area. We r holding on to what we have

[@MissRoseLily]

Shocking how grim they are and the ridiculous high prices. Cool video ♡

[@D_B_Cooper]

Such a complex situation. Short term thinking by so many parties has caused it. Related is Edinburgh cracking down on air bnb under the guise of a housing shortage… so why don’t they build more social housing? A new tax is always easier than long term planning. The population increase without the needed infrastructure was criminal. Spiv culture out of control, it’s beyond fixing bar a catastrophic crash I think.

[@lindaolivova2698]

The little touches on your channel like respecting the privacy of a current tenant really speak volumes about your good character. Keep up the great work, your channel is really growing!

[@anderoob3389]

moved out of London 10 years ago to Southampton. am now a house owner

[@gavjlewis]

The first one has rising damp problems as it wasnt built with a damp proof course. Insead of doing the damp proof course properly its been bitumen coated and then covered in render. Generally it doesn't work as you can see. Its just a cheap option to try and solve a problem. The other damp problems are probably condensation issues which you get on uninsulated houses.

[@henitinker8808]

I grew up in a property like that and the damp gave me lasting health problems. So as soon as I saw that property, I knew how hard it was going to be to fix. Absolutely not worth it for that shocking price.

[@skerriesrockart]

Condensation can also be caused by people drying clothes indoors on radiators and cooking without opening the windows

[@paulgilliatt7829]

No such thing as rising damp. Will be water ingress . Water does not go up

[@madeleine2631]

​@skerriesrockart where are people meant to dry their clothes in a flat with no dryer or outside space? You can fit about 6 socks on a radiator, so that's not the issue. And are you really meant to open the window on a 2° day because you've got to make a pasta? Ridiculous. It's not the tenants fault, so stop trying to shift blame because it makes you feel better. Houses need to be built AND maintained for the weather they exist in.

[@skerriesrockart]

@@madeleine2631 Yes its completely the tenants fault

[@danielcunningham6727]

Channel is growing nicely last time I looked few weeks ago it was at 26k! Very well deserved! Those prices are absolutely ridiculous!! I paid 120k for my 2 bedroom flat in Birmingham in much better condition too!

[@africansister]

U ll get a house with that money in walsall wolves or dudley

[@danielcunningham6727]

@@africansister yeah but then you have to live in Walsall wolves or dudley....😂plus I was only 29 at the time (31 now) so was my first property as my family grows I shall upgrade to a house plus my flat has a shared garden so that's a bonus

[@prawnk1ng]

Brum is too expensive to get into now too. The HS2 had hyped it up and now it’s unreachable.

[@danielcunningham6727]

@prawnk1ng rent has become unaffordable I agree however if you're looking to buy and aren't too fussy where you live there's still some bargains to be found

[@imconfused1237]

Yeah, but you have to live in Birmingham 😂

[@maxerea4380]

I just bought a house and redoing a couple of rooms, we're now done with the attic and the office and they both have new plaster on the wall, a new floor, new isolation and a new ceiling and all in all that coster around 2-2.3k for both rooms. We had the plastering done by someone and that cost around 1.6k for both rooms, all the walls and the ceiling.

[@jankarel6454]

The next to last one, with no kitchen or bath fixtures, and massively overgrown garden--honestly, the only positive thing about it was that the garden was large enough that you could pitch a tent in it and actually have a place to live. Isn't there any law about these buildings needing to be fit for human habitation? The last place, while so very small, was the only place that didn't look like living there would be a health risk.

[@wonderloaf]

Usually places with no kitchen etc can't be bought on a mortgage - they will be cash sale only.

[@henitinker8808]

It is legal to sell a property that is structurally defective. Unfortunately it is on you as a buyer to get a survey done to investigate the extent of any damage before signing a contract. I think it's not legal for councils to do that, but it is in the private sector. It's hard to get a mortgage for a defective property though, but you can do it if you pay cash.

[@pierrex3226]

I was a tier 1 investment banker for seven years since graduation from college, living in London. I was flat sharing the whole time except for a year or two with my girlfriend. So, I was the fraction of the 1pc, but living like a student. London makes no sense, I left :)

[@Comonad]

Eh? How much were you on and when was this? 5 years ago, my and my gf had a 1 bed flat in Canary Wharf on a combined income of £65k and had plenty of money left over. I feel like investment bankers are on way more than this.

[@pierrex3226]

@@Comonad i didn't write that I couldn't afford more, I could have. But value wise, it made no sense to me. Even the nicest flats tend to be horribly built. I stayed in a very fancy flat when I moved to London. Fake luxury. It was a rip off, and shyte. A great metaphor for London real estate in fact.

[@Comonad]

@@pierrex3226 true true. And the landlords are the worst. They’re making hand over fist in profit but heaven forbid something needs repairing or touching up

[@samloutalbotmusic]

Your channel is great ! Thanks for these vids

[@R.-.]

Properties in this condition are usually sold at auction to developers who will refurbish the place in a couple of months then sell it on for a fixed markup. If the property is refurbed and resold quickly they avoid certain taxes and the original sale price is hidden from the price history. However when house prices are predicted to fall it's risky for developers to take on such projects. London attracts wealthy international buyers who will pay inflated prices just to secure a place to live if they need to escape their home country (where they have made their fortune). This is one way of balancing Britain's trade deficit since we don't export very much. If foreign buyers buy British properties, I'd rather they buy overpriced flats in London than our historic country estates. If I were the government I'd make many properties off-limit to foreign buyers to help keep them affordable for British buyers.

[@mgtowstanleyzoltanov9808]

I think government accept bribes in form of lobbysts

[@whome5810]

What taxes will a developer avoid if reselling quickly? All sale prices are recorded there is no way to avoid as far as I am aware?

[@SDrtheone]

@@whome5810yeah as a qualified mortgage advisor I am not sure what he is referencing either.

[@imconfused1237]

The guy is waffling. All property sale is recorded on the Land Registry.

[@ojbeez5260]

@@imconfused1237 Actually Land Registry is ownership and Transfer of Ownership. You need the SAS operational data from the Research centers such as Cambridge University Department of Housing and Land Economy for sales records and market analysis. RTD is all on the SAS system (powered by Linux Servers).

[@arianalovelace1133]

This is so well done I’ve been renting in London for 4 years had many problems from illegal subletting in council flats to sharing houses with weirdos.The studio situation is also getting out of hand £1,500 for a mouldy studio with no windows :( in London you do pay for the area but it’s getting out of hand in London.Please do a video viewing rooms in shared houses and studio’s it’s awful

[@abdullahhakan1]

For 700.000 pounds , one can purchase 8 big bedroom , private jacuzi, big swimming pool, nice , mediterenean seaside looking villa in Kyrenia (Girne) in Northern Cyprus with 3 car garage, just 3 years old with al kinds of brand new , contemporary gadgets, scavolini kitchen cupboards , geberit, vitra WC and toilets, showertubs.

[@serena1453]

We lived in London from 2010 to 2015 and we stayed in a studio flat in Ealing, amazing location and nice flat but it was very old and landlord wouldn't do anything we didn't even have proper heating. We payed £800 a months, now probably would be double 😢 It was a shame because we liked the area but couldn't afford it and we had good salaries! We moved to Scotland and bought a 3 bedroom house for 90k 😅 I really love the London videos, so many memories ❤️

[@TommyAtkins-bd5ky]

How is scotland treating you.... hope your happy there friend.

[@henitinker8808]

So many people are doing the same, London is becoming unlievable.

[@rootchiller]

@@henitinker8808 Feel so sorry for the young, there is no way in hell they can start a family down here and live.

[@MikaMikaMika89]

2010 rent to nowadays won't be double, probably 3-4x. I live in Nuneaton, a fairly small town with good links to other places like Birmingham and Coventry. 5 years ago I would get a full 3 bed house for £500 pcm. Today I am paying £505 pcm for a 2 bed flat in a bad area, with no soundproofing (I've had the floors up... nothing but the timber floorboards, thin insulation, downstairs ceiling) and I'm actually paying not a lot it seems, as the flats over the road have all been snapped up at £600 pcm. Absolutely nonsense, there is nowhere cheaper in the entire town.

[@henitinker8808]

@@rootchiller Yeah, definitely. I got friends in London and they're struggling.

[@jamesanthony3072]

Moved from london as house prices/rent and just everything from cinema to eating out/drinks were getting expensive… Choose Birmingham as it’s a similar lifestyle to London but in many respects better, lots of parks, things to do and lovely suburbs/city centre… Now after 6 years, I wouldn’t move back, Birmingham is now home, great friends group, amazing restaurants/bars that open much later than London, seems there is a festival or serval events every week/month to attend and my living costs have gone way down, even though my lifestyle is so much better

[@CaptainShonko]

Good to hear mate, Brum's nightlife and restaurant scene is excellent, worthy of the 2nd city! Our city centre has come on leaps and bounds that last 10 years as well.

[@ruzziasht349]

"Similar" hahahaha-hahahahaha

[@veeek8]

Leases can be renewed and they are there to make sure everyone else in the block sticks to certain rules, like fixing roof leaks and not making stupid amounts of noise.

[@k.crystal2024]

Why didn't he mention about lease extention, at the start. For a fee it's sorted, he was making it seem as though it's final.

[@veeek8]

To be fair i only know because Ive had one

[@k.crystal2024]

@@veeek8 my mum had hers she paid £ 9k for it. But the cost of the service charge over the years eclipses the £ 9k. Any flat in London you pay through the nose, either way.

[@ianhalsall-fox]

So we bought a narrowboat which was previously the main home for a couple living in Paddington. It cost us £68k - a Central London home albeit you had to move it every fortnight. But now the Canal and River Trust are clamping down and introducing increased mooring fees and it will only get worse for permanent live aboards as the Government are massively cutting their budget to the CRT.

[@Chanel95-d6u]

Yeh, when British Waterways became Canal and River Trust everything changed - and not for the good. Now you have to bid for a mooring, and the canals are running out of space. It’s the moorings cost that makes it difficult. Mooring fees near Central London are a joke. You can continuously cruise ie keep on the move, but not easy if your job requires you to be in one place.

[@lesliesmith5797]

When something seems too good to be true, it usually is. Government is always waiting with their paws out to screw anyone over that they can. Disgusting 🤮

[@northernsoulJody]

I live in the Lake District in the North. I’m 15 minute drive away from some of the most stunning lakes and mountains in Europe…my 3 bed house with large garden on a quiet street cost me £90,000 a couple of years ago. Now worth around £128,000. These people could live in the most amazing 5 bed houses here for the same price of these flats. It boggles my mind 🤯

[@wanderingturnip]

My mum lives in Ambleside so I know exact what lakes and mountains you are talking about. No where else like it on earth 👍👍

[@JessicaMiller-pc4dj]

I'm a true city girl - if I had to choose between a flat in London/ Edinburgh etc or a larger house somewhere more rural/ north then I would go for the flat - every time. And that hasn't changed with age / money, it's just my preference.

[@tm1rt2vv8i]

Yes, but you’re not in London. London is the financial district, and if you were very ambitious you’d have no choice but to be in London. I would love to work in the countryside too, but to be the best I can be, I choose to be in London to progress with my career; the opportunities are immense and incomparable to places like Manchester or Edinburgh. London property prices are expensive because there is a huge demand - and that is, unfortunately, for a reason. The best hospitals, dentists, finance firms, restaurants etc. are in London. I too am frustrated about the prices, it scares me that even being on 6 figures in London doesn’t allow you to purchase a decent house.

[@topboychris104]

Exactly. Don't advertise the fact though we don't need Londoners coming to bid up prices.

[@sm-yu7dt]

in the whole of Europe? let's not lie too much

[@kerryking9278]

Omg this was a fascinating vid thank you! Feeling soooo lucky to be living in a freehold property in Cornwall on a section 106! Needed help from relatives to do it for which I will ever be grateful! 🙏🙏

[@atlanticx100]

The whole leasehold system needs to be abolished. I have heard cases where the leaseholders are being asked for thousands for repairs but not the landowner.

[@niallmacdonald2710]

For leaseholds, the crucial numbers are number of years and the ground rent cost, since a renewal is based off these. You're not going to end up with a situation where the lease runs out.

[@SpokaneGirl85]

Reminds me here in Portland, OR, I was house hunting in 2012 with my husband and every foreclosed home we went to all needed work. Owners who are losing their home will intentionally destroy their house and strip things or they simply stop caring about their home so they do some destruction knowing they are losing it anyway.

[@mrmartin2079]

This was an extremely depressing yet informative video - It’s hard to comprehend how they can charge such prices for Such poor value And the dirt - imagine spending hundreds of thousands of pounds for ownership of other peoples imbedded dirt

[@NmpK24]

Couple of things about leasehold properties. Depending on how long is left on the lease you can always renegotiate and get a new one after a certain period of time. And if its say, 2-4 flats in a block or converted house and all are owned you can get together with the neighbours and buy a share of the freehold as the freeholder are obliged to sell it to you. This is another expense maybe several thousand £s each but at least the property is then yours outright and it adds to its resale value. However the rules about existing leaseholds need revising, specially ground rent.

[@paulbrown5839]

Yep you can. But if the freeholder has died you have a problem. You have to advertise "Looking for freeholder blah blah" in national newspapers and then place a bond for X years in case they turn up later. But after going through this process of trying to find the freeholder and failing, and paying Y thousands, you can form a company with the other flats and buy the freehold if the freeholder is missing. My info is from 20 years ago though, maybe its changed.

[@Chanel95-d6u]

That what we did. Worked out well.

[@paulbrown5839]

@user-bp6gp2rc1v when and where?

[@janegee565]

When the lease on a property expires you do not lose the property, the lease terms change - usually the costs paid yearly ( ground rent) goes up substantially at the lease owner's (ground owner's) discretion.

[@minimalist5]

Usually you can renew leases around the 80 year mark for around £7,000-£10,000 as long as the land owner lets you. Another thing about leaseholds is that you can have to pay rent on the land, and you usually have a service charge to cover the building maintenance. A lot of dodgy leaseholds are on the market, but there are some decent ones (e.g. 999 year leases, £0 ground rent, few hundred per year service charge). Leaseholds can also have rules like requiring carpet in your bedroom (to reduce noise for downstairs neighbours), or not allowing any pets!

[@Harry-qy5gn]

You have to live in a leases old property for 2 years for you can renew and when it's low as 80 years landlord can take half your profits and can cost a lot more to renew

[@lg_believe333]

I’ve never seen a leasehold flat in London with a 999 year lease and with £0 ground rent. 😂

[@spencerosei2616]

I feel like its such a scam as you never truly own outright , you are renting land 🤬

[@ChinaGates]

@@spencerosei2616you never truly own anything

[@danielcunningham6727]

@@spencerosei2616 ownership is just an illusion my friend

[@catxls1835]

Cracking video David. On the question of the price a kitchen in the first property would cost would vastly vary. If you bought a cheap kitchen suite, tiles, lights, sink, taps etc and installed it yourself, maybe as little as £5000. I would personally have the kitchen area reskimmed and treated for mould before installing the new kitchen suite, which would add a further £1000. You would also have to consider the heating system in the property too, so it's not cheap my friend. Thumbs up!!

[@catxls1835]

Being a fully qualified electrician, I am well aware of the regulations that must be adhered to. I was only giving a ball park figure. David also said he wanted to do it on a budget and he never said he wanted to add value. Your correct, it is illegal to any Gas appliances unless your are certified. The is also true of the electrical systems, damp prevention and doors/windows! It can be a minefield of technicalities if your not up to date@@growsethjones7249

[@alanboyle9392]

Excellent video,well presented,amazing that they can't run a brush over the floor,before the sell the property,i'm glad i live up north,in a 3 bedroom house for £98 per week,keep up the good work,very interesting!

[@sueg2658]

I agree, WOW! Great reporting! I live in California about 120 miles from San Francisco. Here on top of the initial money we pay for the home are yearly property taxes (I’m guessing UK is the same?) And those taxes are raised every year. It’s insanity here too. Rent for a small apartment here is around $3,000 and up. And the closer to San Francisco and surrounding areas it’s cost to live is beyond insanity to live! Seriously I do not know how people do it especially those with a family. It’s very sad what’s happening. The pressure and stress caused by the greedy wealthy, how much can we take?

[@davebnly]

it's called council tax in the UK

[@sueg2658]

@@davebnlyThank you.

[@edwardt2417]

@@sueg2658 Council tax in the UK is much less than US property tax. US property tax tends to be about 1% of the property value (not market value, but the assessed value by the county that the property is in), while UK council tax is much less, in my experience.

[@GreatSageSunWukong]

As someone pointed out we pay council tax, I wanted to elaborate on that further by pointing out there are discounts on that tax like the single persons discount and if you are on certain benefits you don't pay it at all or get a discount, but it depends what council area you live in the individual councils decide how they do stuff.

[@mariahsmom9457]

Interesting. My property tax is almost 2% annually. Ridiculous.

[@EddieCharles]

I'm sure you're aware, but you can extend the lease by the way. Ideally don't want to let it get it below 80 years, but before it gets to that point, can pay (depending on location, size, property and the leaseholder) a couple all the way up to 10/12 grand to extend, usually by 90 years to make it easier to sell on again

[@paulbrown5839]

Only if you can find the freeholder. In a modern block of flats that might be doable, but not in all circumstances. I got caught out.

[@EddieCharles]

@@paulbrown5839 that’s a shame, sorry to hear! Would the freeholder not be on the property reports you can buy from the government online? My flat isn’t new by any means but luckily is property managed

[@paulbrown5839]

@@EddieCharles You can find the freeholders name but what if they have gone overseas or died? There is an expensive process you have to go through to show reasonable effort to contact them before you can move forward without them. If I was going to buy a leasehold flat with less than 100 years I would make sure I could locate the freeholder first before buying.

[@yaturkeyneck7130]

@@paulbrown5839what happens if the lease runs out and the freeholder hasn’t been found? Who then owns the flat?

[@paulbrown5839]

@@yaturkeyneck7130 I don't know because I was not near the end of the lease, but my guess would be that the same process would kick in (in case the freeholder has an inheritor). Ask your solicitor.

[@n.b.3521]

Really puts things into perspective. It seems that many big cities around the world, even less famous ones like mine (Toronto in Canada), are having similar issues. I hope it can be solved soon!🙏

[@njpringle]

If the population had remained stable at the 1990s level of 55 million the house prices would never have gone crazy like this, and also if they did rise a bit they would have fallen at some point during any economic slowdown. However, the population is now 69 million, 14 million more people on the same island, even with lots of new houses being built, it fuels a huge rise in house prices due to massive demand. I can't see house prices ever going down much, considering in the last 12 months we have just had net migration of 600,000, equivalent to adding a city the size of Sheffield to Britain in just 1 year. Every year since 1997 we have net migration equivalent to adding a British city per year to the UK .

[@h0td0gwater]

i'm sure these figures add a lot to the problem but the issue of house prices, in my opinion, will always be the fault of greedy landlords and lack of affordable social housing.

[@roadtoonemillion284]

Such an ignorant low IQ comment about immigration. The problem isn't the immigrants, the issue is the rich buying out multiple houses and renting them out as an investment. When people can legally avoid paying stamp duty by buying 7 houses + at a time, that's when you get this issue. There is more than enough housing stock in the UK, the problem is the hoarding by the very wealthy.

[@danielcunningham6727]

You do make a great point but however we'd be worse off financially as a county because they'd be less tax payers

[@njpringle]

@@h0td0gwater the landlords can afford to be greedy because of the massive demand. If the population had remained static, renters would have a lot more power (which they did 20 years ago), simply because the landlords would be fighting more to get a tenant, so spending more on their properties to improve them.

[@njpringle]

@@danielcunningham6727 The population has increased by over 8 million in 20 years, so why are we not richer? It's actually the reverse, our country has trillions £s of debt that we did not have 20 years ago, so back to the drawing board with that point.

[@otakarkuby3926]

Great work, today you made Middlesbrough look almost habitable.

[@Pittibarlin]

Boro ain't that bad, it's bad, but not that bad. I've seen much worse on my travels. Rotherham is worse, most of Newcastle is worse, Blackpool is infinitely worse, then there's loads of seaside towns that don't get tourists anymore, they're actual hellholes. Kent, Cornwall and Essex have some real slums too so it's not all Northern. I won't even get into Scotland as it's not worth the abuse.

[@otakarkuby3926]

@@Pittibarlin Your right, My comment mostly a quip, didnt include my comparitive, to the Middlesrough I knew in the 70's and what it is now. for me that contrast is very saddening, I grew up near the heart of the center in the terraced houses I knew every ally every park, and any estate I could get to and back in a day on foot. I liked to explore lol. now its wall to wall cars and the mini communities I knew are gone. as have the small locals shops etc.

[@Pittibarlin]

@@otakarkuby3926 I'm not that old mate, but I do know what you mean. Back then it was coal mining. Most of the villages and towns were. I lived in Ashington for a while, proper thriving town until the '80s. After that, 2,000 jobs for 20,000 people. Thatcher has a lot to answer for. Even in her grave she's responsible for 2023's energy prices. Never mind the millions she put out of work decades ago.

[@otakarkuby3926]

@@Pittibarlin Thatcher was an Obama a Blair, a charasmatic puppet who did her part in the deindustrialisation of Britain, which was agreed by them that know in the late 60's, in order to prepare Britain to be part of upcoming E.U. other countries to lesser and greater dergees suffered the same. Dependancie on Governement has always been a factor. Thatcher has little if nothing to do with money. We live in a system of endentured servitude which has been prevelant since the creation of money with interest. Everyone thinks slavery has to do with owning someone. but owninng someone is easier when you do it with money. thats why the other slavery was abolished, it was out of date and not as good in controling the slaves.

[@-owatts3589]

Great video. Thank you so much for sharing this information with us. I look forward to the next one.

[@sanjeethundal4190]

The last one in Holloway was OK just very poorly designed. Yes it’s tiny but it’s super central so you could walk to a lot of places . I’d look up tiny house nation on KZbin and how they set things up to save space. I lived in London for 15 years and I’m Northern so I understand the difference for what you get for your money. I don’t see London as part of the U.K. , almost a separate state. After years of being teased about being northern loads of my southern mates saw the light and moved up north.

[@beck7326]

24:05 agree 100% 👏🏽 thanks for bringing attention to the shocking state of UK housing (and capitalism) right now

[@davetaylor4741]

Wonderful selection. I was a carpenter builder for 42 years. So have a reasonable idea of renovations. As that is mostly what I did. You have to wonder why you have water coming through the ceiling. When there is a flat above you. There were a couple of properties there that would certainly be worth doing up. And once tidied up, flipped for another. At least if you are a ground floor flat, between other flats. There are only two external walls. So a lot of the mould etc. is just from sitting empty. The maisonette, looked pretty nice. I could live in that. And for London prices. Better than living nine in a small house. The last one for 3 million. What a rip off. That castle in Durham has my name on it for 3 million. Unfortunately my budget runs closer to the 185 thousand maisonette.

[@mattsainsbury1842]

Another thing to consider with these very high flat prices are unless you live in a newer tower block, all flats are Victorian housing stock re-purposed and cut up into apartments, one space is usually compromised eg. bathroom's with no window, hollow suspended timber floors filled with rats and mice, 9 inch party walls between you and your neighbour, garden flats usually always suffer with rising damp, joke ting.

[@paulbrown5839]

True. They come with problems from doing cheap conversions, mainly in the late 80s when it really took off.

[@Journey_to_who_knows]

One house or 15, it’s all about perspective lol. Think how of all the illegal immigrants you can cram in.

[@sicariidietrich4422]

Fi real. Facts

[@magiccrypto9332]

You should be able to extend the lease if its a council lease. There is a fee to be paid, but its possible. I extended mine from around 86 years to 129 years and it cost around 8k back in 2011. If I remember correctly, the rate had to do with the time remaining (increases as time reduces).

[@Sabir4u]

8k is lot of money

[@magiccrypto9332]

Yes it is. But considering the value of the property (350k) it makes sense. The amount has covered itself in the value of the property over time.@@Sabir4u

[@mc2594]

The last Studio flat looked excellent compared to the others viewed. Use a sofa bed instead of a double bed and for a single person or even a couple it looked like a bargain to me, all the others were builders projects no one could live in so that was only part of their actual price.

[@mikemorris3421]

The price is an auction estimate, the figures reached are normally well in excess of this. Also under the Leasehold reform act you have the right to extend the lease.