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Who can afford to buy a house in central Brighton/Hove .........
FG aka Football Genius.
New member
- Nov 3, 2003
- 1,029
http://www.upmystreet.com/property/prices.php3?l1=UMS3549
flats are cheaper then nat average so dunno why so many complaining?
what i object to that is so unjust is the way the government these looney lefties tax the people of south on buy property when many homes in north dont even qualify because they are so cheap
flats are cheaper then nat average so dunno why so many complaining?
what i object to that is so unjust is the way the government these looney lefties tax the people of south on buy property when many homes in north dont even qualify because they are so cheap
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Deano's Right Foot
Well-known member
Has anyone seen the FG translator? I'm sure it was around here somewhere.
Household income is just below the national average in Brighton and if you can believe the figures so are the house prices.
However, the homes in Brighton are smaller than everywhere else in Britain except five London boroughs, so they should be cheaper.
Its the Brighton wages that are too low! And as more people work outside Brighton than in, this makes the wages even lower this compared to house prices.
The old trick was to ask for a pay rise to get a mortgage. You don't get a pay rise, but your employer exaggerates your wages on the forms.
If you are self-employed, this could mean three sets of accounts, one for the mortgage company, the real accounts and one for the taxman.
However, the homes in Brighton are smaller than everywhere else in Britain except five London boroughs, so they should be cheaper.
Its the Brighton wages that are too low! And as more people work outside Brighton than in, this makes the wages even lower this compared to house prices.
The old trick was to ask for a pay rise to get a mortgage. You don't get a pay rise, but your employer exaggerates your wages on the forms.
If you are self-employed, this could mean three sets of accounts, one for the mortgage company, the real accounts and one for the taxman.
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houseboats arent even cheap any more now theyre free hold . . . .and most of them have sunk ! 
Scoffers
Well-known member
The only way for people who are not rich to get nice houses is to have been on the property ladder since before the prices started to hike
I have owned 3 houses
1995 - 4 bed semi - 14k profit on sale
1997 - 3 bed detached - 90k profit on sale
2002 - 5 bed detached - used equity in order to purchase
There is no way I could afford my current house without having the profits from my first two houses
I have owned 3 houses
1995 - 4 bed semi - 14k profit on sale
1997 - 3 bed detached - 90k profit on sale
2002 - 5 bed detached - used equity in order to purchase
There is no way I could afford my current house without having the profits from my first two houses
Storer68
New member
Not exactly relevant but today Whilst strolling to the pub, i stopped and looked into an estate agent's window to ponder
and I came across a leasehold 3 bed flat , with the lease running to 2040 (that's another 36 years), with an asking price of £1.45 million.
Well, thats what happens when you work in Belgravia 
and I came across a leasehold 3 bed flat , with the lease running to 2040 (that's another 36 years), with an asking price of £1.45 million.
Well, thats what happens when you work in Belgravia
Uncle Spielberg
Well-known member
You can get 4.2 x income up to 95% with a high street lender. If you can put down a 20% deposit which most movers have got you can get an 80% mortgage based on affordability instead of the old out of date 3-4 x salary.
Therefore if you have £ 50000 you can get a mortgage for £ 200000 and buy at £ 250000. It is important you are aware of the mortgage payments now and what they may be in the future and these payments are affordable to you.
Therefore if you have £ 50000 you can get a mortgage for £ 200000 and buy at £ 250000. It is important you are aware of the mortgage payments now and what they may be in the future and these payments are affordable to you.
desprateseagull
New member
no hope here...
b'ton born n bread, currently renting a 2 bedroom council flat for £75 a week - a 'bargain' compared to private rentals i am sure, but still a squeeze.
no hope of getting a mortgage, even with new job income-
afaik, most co's only lend 3 or 4x salary? last sale i saw advertised here, was for £150k.
i dont intend to have a 30 or 40 year loan (even if i could get
one, with my credit history, lol!) hanging around my neck, plus the life policy premiums, leasehold service charges, etc.
b'ton born n bread, currently renting a 2 bedroom council flat for £75 a week - a 'bargain' compared to private rentals i am sure, but still a squeeze.
no hope of getting a mortgage, even with new job income-
afaik, most co's only lend 3 or 4x salary? last sale i saw advertised here, was for £150k.
i dont intend to have a 30 or 40 year loan (even if i could get
one, with my credit history, lol!) hanging around my neck, plus the life policy premiums, leasehold service charges, etc.
We sold a house fully paid up (no mortgage) in Huddersfield for £84,000 (a 3 bedroomed terrace house, gardens front and back and a garage)
As Ned is still young enough to get a 25 year mortgage then we could borrow again (otherwise I would never have made it back to Sussex)
We went to Newhaven because we couldn't afford anything in the Shoreham to Saltdean area.
Lancing would have been a possibility but then it would have meant travelling to work.
In the 70's most women couldn't get work if they had children (part-time work only really started in the late 70's especially office work) so the mortgages were based on one income.
Yes the Thatcher years caused a boom in prices because two people combined their income but it was also good for people like my Mum who is now 74 and owns her own home.
She bought her council house in Woodindean and has now paid for it in full (getting a discount on the price because she had lived there for 20 years)
She would still be having to find rent (or getting housing benefit to help pay it) right up to her dying day if she hadn't been allowed to buy it.
As Ned is still young enough to get a 25 year mortgage then we could borrow again (otherwise I would never have made it back to Sussex)
We went to Newhaven because we couldn't afford anything in the Shoreham to Saltdean area.
Lancing would have been a possibility but then it would have meant travelling to work.
In the 70's most women couldn't get work if they had children (part-time work only really started in the late 70's especially office work) so the mortgages were based on one income.
Yes the Thatcher years caused a boom in prices because two people combined their income but it was also good for people like my Mum who is now 74 and owns her own home.
She bought her council house in Woodindean and has now paid for it in full (getting a discount on the price because she had lived there for 20 years)
She would still be having to find rent (or getting housing benefit to help pay it) right up to her dying day if she hadn't been allowed to buy it.
Hunting 784561
New member
- Jul 8, 2003
- 3,651
Ive got no complaints about Mrs T either.
It was her government that got rid of old fashioned credit controls that said you you had to put down a minimum 10% deposit on a house, minimum 25% deposit for HP on a car, etc, etc.
Her goverment made cheap finance accesible and available to the masses, which is a good thing in my book.
It was her government that got rid of old fashioned credit controls that said you you had to put down a minimum 10% deposit on a house, minimum 25% deposit for HP on a car, etc, etc.
Her goverment made cheap finance accesible and available to the masses, which is a good thing in my book.
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Tom Hark Preston Park
Will Post For Cash
- Jul 6, 2003
- 72,321
There's that old saying about there being three stages in the development (or ruination of an area depending on your viewpoint) that goes something like:
Stage 1 - Students and artists move in (cos it's cheap as chips)
Stage 2 - Families on a budget move in (cos it's the closest they can get to where they REALLY want to live)
Stage 3 - Outsiders move in (cos it's an investment)
At Stage 1 the area is funky or grotty or both or maybe you're just having a good time and it's somewhere to crash and you never even notice
At Stage 2 the area is pleasant and slightly down at heel. People bond, get on, tell their friends about it, a community develops. The area becomes 'sought after'
At Stage 3 the area is cold, impersonal and has lost a lot of the charm it once had. Faceless new cafe bars open that taxi drivers don't even know the name of, and any sense of community is lost. People move in, keep themselves to themselves, safeguard property prices with extreme prejudice.
In Brighton, the North Laine will have lost all of its second-hand book&record shops within a couple of years. Howver, one day the council will be held to account for it's shameful disservice to the old, the infirm and the mothers with prams by failing to pedestrianise London road between St Peter's and Preston circus. So get yourself someplace scabby there and I reckon you'll do OK. SO handy for the Co-Op and the 5A bus to Withdean/25 bus to Falmer one might add...
Stage 1 - Students and artists move in (cos it's cheap as chips)
Stage 2 - Families on a budget move in (cos it's the closest they can get to where they REALLY want to live)
Stage 3 - Outsiders move in (cos it's an investment)
At Stage 1 the area is funky or grotty or both or maybe you're just having a good time and it's somewhere to crash and you never even notice
At Stage 2 the area is pleasant and slightly down at heel. People bond, get on, tell their friends about it, a community develops. The area becomes 'sought after'
At Stage 3 the area is cold, impersonal and has lost a lot of the charm it once had. Faceless new cafe bars open that taxi drivers don't even know the name of, and any sense of community is lost. People move in, keep themselves to themselves, safeguard property prices with extreme prejudice.
In Brighton, the North Laine will have lost all of its second-hand book&record shops within a couple of years. Howver, one day the council will be held to account for it's shameful disservice to the old, the infirm and the mothers with prams by failing to pedestrianise London road between St Peter's and Preston circus. So get yourself someplace scabby there and I reckon you'll do OK. SO handy for the Co-Op and the 5A bus to Withdean/25 bus to Falmer one might add...
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i earn over 35k and have no debts and 10k stashed and i still cant (or wont) buy in Brighton.
I am not going to work the whole of my life for a flat where i dont own the land, so that rules me out of buying in Brighton.
also, i dont want to bring up kids in Brighton as all i see are gangs of chav teenagers walking around.
In England everyone is "i must own" - why?
I am more than happy renting a really nice place that i could never afford to buy. I dont mind renting as long as i am saving.
The big problem i have with the system in UK is that if you buy a 2nd house you get Tax concessions, you should get taxed to the hilt or even not allowed to have 2 homes.
Also, new cheaper options being built get bought to let by tycoons.
nightmare really - but US economy is led by shares not property and alot of Europe's countries always rent and never own.
"well i want to pass something on to my kids" i hear - well with 40% or so inheritance tax you are leaving your estate to the gov.
I am not going to work the whole of my life for a flat where i dont own the land, so that rules me out of buying in Brighton.
also, i dont want to bring up kids in Brighton as all i see are gangs of chav teenagers walking around.
In England everyone is "i must own" - why?
I am more than happy renting a really nice place that i could never afford to buy. I dont mind renting as long as i am saving.
The big problem i have with the system in UK is that if you buy a 2nd house you get Tax concessions, you should get taxed to the hilt or even not allowed to have 2 homes.
Also, new cheaper options being built get bought to let by tycoons.
nightmare really - but US economy is led by shares not property and alot of Europe's countries always rent and never own.
"well i want to pass something on to my kids" i hear - well with 40% or so inheritance tax you are leaving your estate to the gov.
Another Berkshire Seagull
Well-known member
I bought a house in Reading last year (similar prices to Brighton) I now rent out 2 rooms to mates of mine (at less than they would otherwise pay) and I can top up the amount to pay my mortgage for less than I've ever paid to rent. Everyone's a winner!!
Incredigull
In Cervesio Felicitas
ME !!
Another Berkshire Seagull
Well-known member
What a coincidence he's the guy that pays my wages so I could afford the house in the first place. 
BRIGHT ON Q
Well-known member
- Jul 5, 2003
- 9,248
zefarelly said:Likewise MOH . . .our house was 265 . . . we got lucky and had our offer accepted at 250 . . . . fixtures and fittings can be used to make up an extra few grand, although our place . . . .you should have had to pay us to take on the fixtures and fittings
but the stamp duty level is rediculous and unfair, I reckon a sliding scale should be used, or preferably nothing at all . . .its just a tax for nothing basically.
buying with a freind was popular in the early 90's as well . . . except you had to go through a whole heap of shirtlifting/drug/sexual habits etc questions and declarations before the mortgage company would accept anything, now you just need a credit card and they'll lend you anything!
Talking of fixtures and fittings,my mates old man moved the other day and even took out the light bulbs to take with him.
Scoffers
Well-known member
Gullet said:The trouble of trying to move within the Brighton & Hove bounderies is that no matter how much your own property rises in price, everybody elses rises by the same amount. So no matter how much profit you make you're no better off.
Right, but the concern is that you use the equity in your house for a new car or a fancy holiday, then the house prices crash, and you have negative equity. Lets hope that doesn't happen.
The other main point is that for those who are not on the property ladder, buying a house is a real problem.