17

Man sells house and land in raffle.

Filled under: Renting, Selling, property | Tuesday, March 17th, 2009 |


A HOMEOWNER who is losing £12,000-a-month while trying to sell his £1million property hopes to beat the credit crunch by selling it in a RAFFLE. Brian Wilshaw, 64, is selling 46,000 tickets at £25 each for a chance to win his 11.5 acre Oldborough Retreat. The estate comes with a five-bedroom house, four two-bedroom holiday lodges, 9.5 acres of woodland and a two-acre fishing lake.

Situated in countryside near Morchard Bishop near Crediton, Devon, the estate is a former holiday complex but Brian is now retiring and wants to sell-up. Winner The dad-of-three decided to raffle the retreat because the housing market and credit crunch have seen the market stagnate. If you would like to buy a ticket please see link at the bottom.

Brian said: “This has been our dream home but now we are retiring we want to let ordinary people have the chance of a lifetime to live here. “Rising house and land prices have put property like this one way out of the reach of most people. “We put the house on the market last year but it was already becoming obvious that the market was slowing down. “We’ve had this idea for a number of years now. Everyone who came here on holiday used to say ‘If I had the money I’d buy this place’.

“I would absolutely love to see the face of the person that wins it when they walk in because it’s going to change their life.” The house has two ensuite bedrooms, one master bedroom, whirlpool bath, a double garage and a large lounge, small study, dining room and kitchen. Nearby are four holiday lodges each boasting two double bedrooms, a bathroom, a kitchen and dining area, which can be rented out or sold off individually. All five properties are situated in woodland with a private drive, gates and a lake with carp, tench, perch, roach, rudd and eels. Heating engineer Brian and his wife Wendy, 49, bought the estate 14 years ago and ran it as a small holiday park until 2006.

Advertisement Brian said: “It’s well worth £25 a ticket. At 46,000-to-one our odds are a lot better than winning the Lottery.

For more: http://www.thesun.co.uk/sol/homepage/news/article1349439.ece

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27

Government promises help for buy-to-let tenants

Filled under: Repossession | Tuesday, January 27th, 2009 |


Tenants renting buy-to-let properties are to get more protection if their landlord faces repossession.
The government has promised to work with court rule makers to secure a longer notice period for the tenants of struggling buy-to-let landlords.

Junior housing minister Iain Wright told MPs he planned to work with the Civil Procedure Rules Committee, the body which sets the rules for the civil courts, to give the tenants of struggling buy-to-let landlords up to seven weeks’ notice if their landlord default on their mortgage. The minister said: ‘At the moment, they only get about two weeks notice and that’s not fair.’

Mr Wright told Inside Housing the issue of tenants of struggling buy-to-let landlords losing their homes was a matter of great concern to him. He said: ‘It doesn’t seem fair if you’re not in arrears and your house is taken from under you. We need to provide as much security as possible.’

The minister was responding to a set of questions by Liberal Democrat economic spokesman Vince Cable, who quizzed him on the impact of recently-announced government measures such as the mortgage rescue scheme, which enables struggling homeowners to stay in their home as housing association tenants, and its mortgage support scheme, which enables them to defer mortgage payments, with the government acting as a guarantor if they default.

Mr Cable argued that the mortgage support scheme was being ‘very tightly drawn, in such a way as it excludes large numbers of people who might otherwise be eligible’.

And he argued that the 9,000 people predicted by the government to benefit from the scheme, coupled with the 6,000 expected to benefit from its mortgage rescue scheme, only made up a small portion of the 75,000 households that the Council of Mortgage Lenders has predicted will be repossessed this year.

Mr Wright said the government was ‘working night and day’ to ensure that repossessions are minimised as much as possible.

The number of repossessed buy-to-let properties shot up by 166 per cent in the third quarter of last year to 2,400, compared with 900 in the same period the previous year.

This story was found at: www.insidehousing.co.uk

 

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