I am moving to London soon and I am pricing apartments online, and I notice that several ads say that it is an ex-local authority building. Does anyone know what this means, and why is it listed in the ad?Thanks
2007-02-27 14:29:33 · 7 answers · asked by absolutely_fabulous_78 4 in Travel ➔ United Kingdom ➔ London
It means it used to belong to the council and was rented out to tenants. A lot of properties were sold off in the 80s to their tenants under the government's 'right to buy' scheme.
Some will be on estates, others are often on ordinary residential roads.
Problems arise with flats in mansion or tower blocks, and with properties on estates because of running costs/ repair costs.
The most well-known problems are facing owners of flats in Trellick Tower in west London. This is now a listed building and needs extensive work. Occupants who are still council tenants are ok because their quota of the funds will be covered by the council. Owner-occupiers, on the other hand, are facing huge bills.
Make sure you get a solicitor to check out what commitments/ charges you may have to face. This also applies if you're buying a flat in the private sector, of course!
Good luck with the hunt for your new home. =D
2007-02-28 04:16:58 · answer #1 · answered by phoenix2frequent 6 · 0⤊ 0⤋
Basically, in the 1980s the government under Thatcher liked to sell things. They sold off many publicly owned companies and privatized them.
One of the things that they sold off were properties that had been constructed by the government for poor people. In America these places are often call 'projects.'
So imagine an apartment in the projects, now imagine that the government has sold these properties to the renters on a nice low rate mortgage. The idea being to make the people living there feel like owners rather than tenants.
It's not a terrible idea, and projects in the UK are not as dangerous as projects in the US. However, I would rather rent an apartment in a nice area, than purchase a property on a council estate (as they are called).
To answer your follow up question it is listed because a buyer has the right to know these things. Many people would not even both to view a property described in this manner. So they don't want to waste people's time, when they are going to figure this out anyway.
2007-02-27 19:29:56 · answer #2 · answered by ZCT 7 · 1⤊ 1⤋
It means it used to belong to the local council, so ex-council house/flat.
When Margaret Thatcher decided to sell off huge swathes of local authority property back in the Eighties she added close to two million new homes to the country's private housing stock - everything from brick terraces and semis to the highest of post-war tower blocks.
Since then, house prices have spiralled ever upwards and these properties have now become a haven of affordability for people priced out of the rest of the booming market.
the pro's are:
1. They are far more affordable than privately developed properties, and are a perfect step onto the housing ladder for first-time buyers.
2. They are better value, in that you often get a lot more space for your money (whether you're buying or renting).
3. Many are far better built than the typical private development, with thicker walls and better layouts.
4. In many cases, they can allow you to move to places - Zone 1 in London, for example - you would otherwise not be able to afford, which can be vital for many City/Urban workers
the con's are:
Not that many, i used to live in one, just means you will be on an 'estate' and many people living there might be lower earners, so the area might be considered 'not as nice' as some other areas. But if you wanted to live in Zone 1, like i did, you cant go wrong.
But it didnt bother me, i could score there easily!
2007-02-27 14:42:23 · answer #3 · answered by BUNGLE!! 5 · 1⤊ 1⤋
Ex council property, maybe a former council house or maybe even a converted office block.
Check to see if there's any council tennants still living there. Might give you an idea of whether to buy or rent.
Maybe an old cottage hospital that's been converted... Research further or make an enquiry.
2007-02-27 14:41:39 · answer #4 · answered by Anonymous · 0⤊ 0⤋
was a council house, so will be among others on an estate, its listed because it has been bought from the council, and the people want to move. it is now a private house, but not on a privately owned estate
2007-02-27 20:40:55 · answer #5 · answered by ? 3 · 0⤊ 0⤋
1
2017-03-01 12:02:32 · answer #6 · answered by ? 3 · 0⤊ 0⤋
ex council house so it will be on a council estate
2007-02-27 14:32:59 · answer #7 · answered by nendlin 6 · 0⤊ 0⤋