And so after a glorious 2 week holiday in the US to visit relatives and friends, PropertyBob is back and straight on it.
2 things have happened for me already …
Firstly, we’ve actually made some progress on my mammoth long running flat purchase. The last step in the chain to buy the place (going since January!) is to get buildings insurance in place. No small feat when the property has had subsidence AND the existing insurance has lapsed. But it looks like we’re coming through. Delite Insurance Broker has found with what appears to be a great policy from Nelson Insurance The premium is very reasonable and, better still, the excess for subsidence is the same as on a normal policy £1,000. This means it is far easier to get a regular every day mortgage rather than going to one of those specialist lender’s who fleece you. So … good good good. More on this if it comes off, when I’ll tell you all the financial numbers for the whole deal.
And the second thing … one of my estate agent friends has potentially found me another property. And this one could work out quite nicely. It’s a 3 bed house arranged as 2 flats, still on a single title. The bottom flat is rented out, the top one was being used by the owner’s brother, who recently moved out into council accommodation. So the owner’s looking to sell. Only at the moment it isn’t mortgagable because it is neither a 3 bed house nor 2 separate flats (because they’re not on separate title). All of which suggests to me that we could work something out. He gets the price he wants with no haggling from me AND I’ll sort out the split title problems for him (and pay half the costs!) and I get another property. Still very early days so hopefully I can share more details soon if it goes somewhere.