Is anyone moving now?

[Petrus1983]

MattyD803 said:

I've missed this until now. I own a BTL in the marina, albeit the older part, but barely 5 mins walk from that one you showed us.

The flat in question probably hasn't sold due an ongoing increase in anti-social behaviour in the dunes directly in front of the property, particularly in the summer. Basically kids coming down on mopeds, getting drunk, starting fires, big fights, vandalism of local balconies and loads of litter left strewn - check the Swansea Post and indeed local facebook for details. (There is an active marina FB group that covers this in detail, regularly).

As far as I understand they have thrown alot of policing at it with regular evening patrols to calm it down, but I suspect it still goes on.

I'm quite suprised they haven't accepted your offer, but I think you have done well to dodge a potential bullet there.

Always do your research.

If you want to be near the sea, I'd keep your search going in mumbles, I expect £400k will get you a nice little cottage up there, or indeed a larger property tucked up in Limeslade or Thistleboon.

Edited by MattyD803 on Thursday 6th October 14:50

thanks for taking the time to write all that - it’s very much appreciated!

[C70R]

MattyD803 said:

Petrus1983 said:

All warnings have been heeded. Back to RightMove!

I've missed this until now. I own a BTL in the marina, albeit the older part, but barely 5 mins walk from that one you showed us.

The flat in question probably hasn't sold due an ongoing increase in anti-social behaviour in the dunes directly in front of the property, particularly in the summer. Basically kids coming down on mopeds, getting drunk, starting fires, big fights, vandalism of local balconies and loads of litter left strewn - check the Swansea Post and indeed local facebook for details. (There is an active marina FB group that covers this in detail, regularly).

As far as I understand they have thrown alot of policing at it with regular evening patrols to calm it down, but I suspect it still goes on.

I'm quite suprised they haven't accepted your offer, but I think you have done well to dodge a potential bullet there.

Always do your research.

If you want to be near the sea, I'd keep your search going in mumbles, I expect £400k will get you a nice little cottage up there, or indeed a larger property tucked up in Limeslade or Thistleboon.

Edited by MattyD803 on Thursday 6th October 14:50

I know it's horses for courses and all, but I couldn't agree more. A larger house that I could still walk down to the beach from has way more appeal at £400k than a new-build flat.

[MattyD803]

C70R said:

I know it's horses for courses and all, but I couldn't agree more. A larger house that I could still walk down to the beach from has way more appeal at £400k than a new-build flat.

Each to their own, but yes, I would agree.

Not to mention, leasehold maintenance charges have rocketed recently and will be going only one way moving forwards...

[Petrus1983]

Thanks to GWR having a paddy I’m stuck in Cardiff for the night now. But - am seeing a quirky but interesting place tomorrow. Cardiff seems more grown up than Swansea but the things I like about Wales are still close by.

https://www.rightmove.co.uk/properties/125349035#/...

I know houses appeal to most, but I want an apartment that offers as low maintenance as possible. The appeal to the marina place is it had basically a ‘garden’ that I’d never need to look after myself. Having a windowless place may get a little strange - but the light that does come in would be like a new painting everyday.

[Slowboathome]

Petrus1983 said:

But - am seeing a quirky but interesting place tomorrow.

https://www.rightmove.co.uk/properties/125349035#/...

Wow. That's quite something.

[Fast Bug]

I know very little about Cardiff, but that looks so much better than the Swansea place. It looks like it's got a lot of character to it, whereas the last place was devoid of any character at all.

[timberman]

skwdenyer said:

RizzoTheRat said:

Is it just that it puts people off because they've been so low for so long, or are the higher rates really a problem? My 4.5ish% mortgage in the noughties seemed fine, and plenty of people took out mortgages at much higher rates than that in the 80's and 90's. I can see it's going to hit people who's existing mortgage repayments are going up, but will it stop people taking out new mortgages or just mean they buy slightly smaller places?

Mind you I'm glad I've still got plenty to time run on my fixed rate.

What multiple mortgage did you get in the 80s and 90s? In the 80s, that was 3x single / 2.5x joint (and only if they didn't think your wife would have children) income. Today people are borrowing 4.5x/5x joint income...

By one calculation, 6% today is the same cost (% of earnings) to service (on average) as 14% was back "in period"...

When we bought back in the 80's it was 3 times a single salary and for a joint mortgage they would add half the second salary on top so basically 3 1/2 times a single salary,

interest rates were also much higher back then

[skwdenyer]

Petrus1983 said:

Thanks to GWR having a paddy I’m stuck in Cardiff for the night now. But - am seeing a quirky but interesting place tomorrow. Cardiff seems more grown up than Swansea but the things I like about Wales are still close by.

https://www.rightmove.co.uk/properties/125349035#/...

I know houses appeal to most, but I want an apartment that offers as low maintenance as possible. The appeal to the marina place is it had basically a ‘garden’ that I’d never need to look after myself. Having a windowless place may get a little strange - but the light that does come in would be like a new painting everyday.

That looks great. However, I'd be concerned about the small print. That's a 999 year lease with a 1/15 share of the freehold. So maintaining that roof, that ornamental stonework, and so on is all going to fall upon the owners.

What's the maintenance set-up like? It looks like a new-build, so there won't already be a sinking fund. Is there a management company? Are they experienced in maintaining what is, in reality, a historic building?

I'd be inclined to tread *very* carefully and go in with eyes firmly open. I'd expect to have to get a proper surveyor involved, as well as a solicitor experienced with such properties.

[C70R]

Fast Bug said:

I know very little about Cardiff, but that looks so much better than the Swansea place. It looks like it's got a lot of character to it, whereas the last place was devoid of any character at all.

Cardiff has evolved into a really cool city in the past decade or so. Swansea is still lagging behind a little, but the Mumbles and Gower areas are stunning.

If I had to move to South Wales, Cardiff would be light years ahead of Swansea.

[Allegro_Snapon]

Petrus1983 said:

C70R said:

Mumbles is a lovely spot. I grew up with family in the area, and visits were a pleasure (particularly with Joes Ice Cream thrown in).

Swansea is a funny old city. Ok if you want to be in Swansea, but dreadful if you want to get anywhere else that isn't Cardiff.

Mumbles is what drew me to the area - but I’ve paid for conveyancing and surveys on 2 places there now and both fell through. What’s left just doesn’t appeal. The part of Swansea I’ve found feels like it’s own little area with nice bars, coffee shops etc. This is the property -

https://www.rightmove.co.uk/properties/125252033#/...

I’ve never lived in an apartment block so that aspect would be new to me.

Isn't that where the potential (but unlikely really) Swansea Tidal Lagoon / mudflats / watersports centre / pool of broken corroded underwater turbines was going to affect the beaches from the lagoon being built. Isn't that the flats for sale in the bottom photo on http://www.tidallagoonpower.com/projects/swansea-b...

[leef44]

Petrus1983 said:

MattyD803 said:

I've missed this until now. I own a BTL in the marina, albeit the older part, but barely 5 mins walk from that one you showed us.

The flat in question probably hasn't sold due an ongoing increase in anti-social behaviour in the dunes directly in front of the property, particularly in the summer. Basically kids coming down on mopeds, getting drunk, starting fires, big fights, vandalism of local balconies and loads of litter left strewn - check the Swansea Post and indeed local facebook for details. (There is an active marina FB group that covers this in detail, regularly).

As far as I understand they have thrown alot of policing at it with regular evening patrols to calm it down, but I suspect it still goes on.

I'm quite suprised they haven't accepted your offer, but I think you have done well to dodge a potential bullet there.

Always do your research.

If you want to be near the sea, I'd keep your search going in mumbles, I expect £400k will get you a nice little cottage up there, or indeed a larger property tucked up in Limeslade or Thistleboon.

Edited by MattyD803 on Thursday 6th October 14:50

thanks for taking the time to write all that - it’s very much appreciated!

Yes that puts me back down to earth. I was picturing sitting on the balcony watching young beautiful tanned women in their bikinis sunbathing on the beach while I enjoy my tequila.

[Petrus1983]

Slowboathome said:

Petrus1983 said:

But - am seeing a quirky but interesting place tomorrow.

https://www.rightmove.co.uk/properties/125349035#/...

Wow. That's quite something.

In the end it was quite disappointing. It felt cold from the start and it’s quite a warm day here today, the lighting didn’t work as I thought it would and hearing people (school playground) right outside the window without being able to see anything was weirdly disconcerting.

[Krise]

Slowboathome said:

Petrus1983 said:

But - am seeing a quirky but interesting place tomorrow.

https://www.rightmove.co.uk/properties/125349035#/...

Wow. That's quite something.

That’s a stunning place !

[Jaska]

Petrus1983 said:

In the end it was quite disappointing. It felt cold from the start and it’s quite a warm day here today, the lighting didn’t work as I thought it would and hearing people (school playground) right outside the window without being able to see anything was weirdly disconcerting.

I was just about to post that it's on the periphery of what's considered the worst part of Cardiff too in case you didn't know insanely nice flat though!

[Slowboathome]

Petrus1983 said:

In the end it was quite disappointing. It felt cold from the start and it’s quite a warm day here today, the lighting didn’t work as I thought it would and hearing people (school playground) right outside the window without being able to see anything was weirdly disconcerting.

Hmm. Old church building. Hearing voices but you can't see where they're coming from......

[Patch1875]

We have been on the market 24h 2 viewings today and 3 over the weekend booked . One note of interest so far.

[princeperch]

Have seen posts on social media about some lenders (Halifax/platform/Barclays) pulling mortgage offers post exchange when funds are requested.

It's getting messy out there now.

[interstellar]

princeperch said:

Have seen posts on social media about some lenders (Halifax/platform/Barclays) pulling mortgage offers post exchange when funds are requested.

It's getting messy out there now.

Surely not, it’s contractual at that point.

[Petrus1983]

Patch1875 said:

We have been on the market 24h 2 viewings today and 3 over the weekend booked . One note of interest so far.

That sounds good. Sensibly priced properties have no reason not to sell. There’s plenty of buyers around still.

[BigBen]

interstellar said:

princeperch said:

Have seen posts on social media about some lenders (Halifax/platform/Barclays) pulling mortgage offers post exchange when funds are requested.

It's getting messy out there now.

Surely not, it’s contractual at that point.

I don't think it is. It is a hazy memory but I am pretty sure when buying a few months ago one of the risks the solicitors pointed out was exactly this scenario (which seemed far fetched as recently as August)