2 bed flat in London

[Moosehoosenew]

Hi,

Looking for any advice and suggestions.

My middle child has been renting in London for almost 2 years, works in finance so office likely to be in the city.
Started renting in Brixton now in East Clapham and even with a half decent landlord property she shares is not brilliant.

Thinking it is time with a bit of parental help to look at buying a 2 bed so she can sublet one room and have nicer place to stay than at present.

Budget up to 600k.

Being from up North I do not know the market well but have spent a fair amount of time working in London but only really know the centre.


Looking for freehold (or freehold possible) and 2 bathrooms or shower rooms, wcs.

Looking to avoid sky high service charges.


Any local experts care to share suggested areas please and any tips on what we should avoid.

Our obvious advantage is we have no chain,

Many thanks

MH

[Moosehoosenew]

Additionally we are registered with one estate agent so far and surprise, surprise in spite of letting them know.

2 beds, 2 baths.
Up to 600k
Clapham distance at most from city
Freehold preferred
Low and predictable service charge.


They just seem to email everything they have on their books, not very impressive.

[Mike4]

Looking for freehold (or freehold possible) and 2 bathrooms or shower rooms, wcs.

Looking to avoid sky high service charges.

A technical comment from me. A genuinely freehold flat is virtually unheard of in London. Even if you find one it is best avoided as there are mutual responsibilities on flat owners to provide support/a roof for the other flats in the same building and enforcing these responsibilities on each other will be tricky. Also funding of the common areas will be problematic. Leasehold is a better model.

What you are more likely to find are flats where the leaseholders collectively own the Ltd Co which owns the freehold of the site and building. Often described by estate agents with no respect for detail as "freehold flats" when they are actually not. This also helps (but does not rule out) "sky high service charges" as the leasholders collectively will be ultimately in control of the maintenance. But if your views on maintenance expenditure diverge from the views of other leaseholders you will find yourself out-voted and still liable.

Best of all would be to find a freehold house rather than a flat in my opinion. Even if this means buying in a rougher area.

[mc2fool]

Sign up with https://www.rightmove.co.uk, https://www.zoopla.co.uk and https://www.onthemarket.com.

Each allow you to specify where you are looking by drawing on a map, or by distance from a postcode, or, in one case (can't remember which) by travel time to a postcode, and with all you can give a price range and specify a 2-bed flat.

[Steveam]

South of London Bridge/Borough heading towards Elephant and Castle (which is advancing in leaps and bounds). Easy commute into the city (walkable from London Bridge). Borough High Street has a number of estate agents but as another poster mentioned almost everything will go on the property web sites.

Best wishes, Steve

[Moosehoosenew]

Many thanks for the replies, which confirm as a Scotsman I have no understanding of the English property market.
If I get the chance and time I might post some of the properties that have caught our eye.

Definitely interested in areas people feel are up and coming.

I am astonished by the price of property in London.

[Mike4]

Many thanks for the replies, which confirm as a Scotsman I have no understanding of the English property market.
If I get the chance and time I might post some of the properties that have caught our eye.

Definitely interested in areas people feel are up and coming.

I am astonished by the price of property in London.

I agree. Ridiculously cheap isn't it?!


Now Edinburgh on the other hand....

[GoSeigen]

I am astonished by the price of property in London.

I agree. Ridiculously cheap isn't it?!


Now Edinburgh on the other hand....[/quote]

?! What's the gross yield in London these days? I'm about to take deposit and first month's rent on a property here at 33% gross yield on purchase price 5 years ago. That's at the high end round here admittedly but I struggle to understand London property. Haven't owned anything there for >20 years.

GS

[flyer61]

Have a look at Castelnau....Upper Barnes

One of the few places in London where relatively speaking there is not so much traffic. Very close to the river, so plenty of nice pubs and walks on hand.

Hammersmith Bridge is closed to vehicles but not cyclists or pedestrians. You walk across to Hammersmith station and I believe the train line runs through to the city.

Prices.....quite variable.

[Mike4]

Have a look at Castelnau....Upper Barnes

One of the few places in London where relatively speaking there is not so much traffic. Very close to the river, so plenty of nice pubs and walks on hand.

Hammersmith Bridge is closed to vehicles but not cyclists or pedestrians. You walk across to Hammersmith station and I believe the train line runs through to the city.

Prices.....quite variable.

Ah does that explain why AppleMaps took me across Wandsworth bridge yesterday on my trip to Balham then? When there was a queue about of about a mile to get onto the feeder road over the bridge?!

[Moosehoosenew]

Hi again,

Three flats that may be what we are looking for.

https://www.rightmove.co.uk/properties/ ... el=RES_BUY

https://www.rightmove.co.uk/properties/ ... el=RES_BUY

https://www.rightmove.co.uk/properties/ ... el=RES_BUY

Why Clapham, daughter currently living in this area.

I may try and view them early next week as heading down to London.

What would I ask the estate agent?

About offering less than price asked.
Are sellers in a position to move?
Service charges, all of them.

Cheers,

[stevensfo]

Hi again,

Three flats that may be what we are looking for.

https://www.rightmove.co.uk/properties/ ... el=RES_BUY

https://www.rightmove.co.uk/properties/ ... el=RES_BUY

https://www.rightmove.co.uk/properties/ ... el=RES_BUY

Why Clapham, daughter currently living in this area.

I may try and view them early next week as heading down to London.

What would I ask the estate agent?

About offering less than price asked.
Are sellers in a position to move?
Service charges, all of them.

Cheers,

It amazes me that we still have 'Leasehold' in this country, though not in Scotland.

One doesn't even give the leasehold length. You have to ask!

Another is only 84 years. I can't remember exactly, but isn't 80 or 90 years the point at which extending it or buying the freehold suddenly becomes a lot more expensive?


Steve

PS Nice apartments!

[mc2fool]

Hi again,

Three flats that may be what we are looking for.

https://www.rightmove.co.uk/properties/ ... el=RES_BUY

https://www.rightmove.co.uk/properties/ ... el=RES_BUY

https://www.rightmove.co.uk/properties/ ... el=RES_BUY

Why Clapham, daughter currently living in this area.

I may try and view them early next week as heading down to London.

What would I ask the estate agent?

About offering less than price asked.
Are sellers in a position to move?
Service charges, all of them.

Cheers,

Hmmm ... Dexters ... I found them particularly cagey about running costs -- service charges, ground rent, council tax -- and also lease lengths. It's apparently their policy not to disclose those up front but to try and get potential buyers in for viewings first.

I think those are important to know up front, so if they don't let on do push them. Council tax, with a little research, you can find for yourself.

Use the map, the photos and google street view to identify the property and get its address and post code. From those we can figure that the first one is a flat in 19 Union Road SW4 6JQ.

Now go to https://www.gov.uk/find-energy-certificate and use the post code to get a list of EPCs at that postcode, which will give https://find-energy-certificate.service.gov.uk/find-a-certificate/search-by-postcode?postcode=SW4+6JQ.

The Rightmove listing shows the flat has an EPC rating of B 82/83, and in the list of EPCs there's only one flat at 19 Union Road with a current "B" EPC, flat 4, and following that through confirms it's 82/83.

Now go to https://www.gov.uk/council-tax-bands stick in the post code and you'll find that flat 4 is in council tax band D. And then of course you can go to https://www.lambeth.gov.uk/council-tax/bands-rates to find out how much that is.

In regards to leases, you want to find out who the landlord is, and ask specifically if the building is "collectively enfranchised". If it is they usually list it as "share of freehold" but not always. If there's ground rent ask when it will go up and by how much.

Yes, leases less than 80 years cost more to extend (unless collectively enfranchised) but the one with 84 years does say "to be extended as part of the conveyancing process"; just make sure that's at their cost.

Also, try to look up the properties on Zoopla, 'cos that gives the listing history. The Stane Grove one, for example, was listed at £550K on the 8th of March and dropped to £525K a month later. https://www.zoopla.co.uk/for-sale/details/66824447/

[vand]

IMO if you want to make an informed purchase you need to have an idea of what the average cost/sqft is for the area, and work off that. Going by the no. bedrooms is very imprecise and, frankly, amateurish way of doing things.

And you have to have a fairly specific area in mind - I know you said no further out than Clapham, but you need to be more specific than that. Personally my strategy would be to avoid the "major" centers as the prices there are bid up and offer poor value,and instead look at the neighbouring areas - so I would look at Stockwell or Kennington rather than Clapham... Clapham itself is massive with Clapham North, Clapham Common, Clapham South, Clapham Junction and East Clapham as 5 distinct stations, all with slightly different feel and pricing. Search on Rightmove or Zoopla to get an idea of what is available at you budget.

[Moosehoosenew]

Thanks to all replies,

My enquiry is very genuine.

Do I want my daughter to be close to a/her tube station probably, which limits some choices.

A friend in similar position has just bought a 2 bedder North West, and am asking him about process, apparently having bought it, now negotiating buying lease from welcome trust, a favourite organisation of mine ( long story)

We have a niece who was a lawyer in London for a decade about to ask her for help.

Minefield.

Thanks again.


Will try and report back what I learn

[Smautf]

Thanks to all replies,

My enquiry is very genuine.

Do I want my daughter to be close to a/her tube station probably, which limits some choices.

I haven't lived close to a tube station since I moved out of Clapham (a rented flat in Windmill Drive, bang in the middle of the Common) more than 25 years ago ! It's really not that big a deal unless you're miles out of town with poor local facilities. It's not for everyone, but you can cycle into Westminster / the City in 20-30 minutes from pretty much anywhere in Zone 2.

Clapham and the surrounding areas were rapidly gentrifying even back then. Certainly, I couldn't afford to buy there - which I why I went somewhere much scruffier (Dalston, now itself much gentrified - and sort of on the tube, although it wasn't in 1998)...

Clapham prices now reflect its status as thoroughly bourgeois.

You need to head further East for better value, but Brixton / East Dulwich / Peckham etc are also now very much discovered / trendy.

Chris