Having a look for the price of flats in London and am amazed by the value for money presented by ex-local authority flats.
There do seem to be downsides
a)service charge b)hard to get mortgage c)value more likely to dip in a market fall
But they still seem too good to be true? Are they?
Why are mortgage lenders so keen to distance themselves? Can you get as good a mortgage as you would for a normal flat?
In estate-agency-speak it will often be described as an "ideal investment oppportunity" which, just as "with potential" translates into "semi-derelict" and "popular location" into "over-crowded area", means "buy it and rent it to some poor fool who isn't aware of the misery of living on the notorious [Insert name] Estate!"
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