Wednesday, November 10, 2010

An interesting house to rent

We just went house hunting at the weekend, looking for somewhere to rent. Our landlord in the UK has told us that he intends to try and sell our current abode when our contract expires, in August 2011. Yes that's right, August next year. In true style then, my GLW (good lady wife) has already started looking....
And what happens when you look for a house? - lo and behold, you find somewhere that you really like!
Anyway, the interesting thing about this house, is that it was owned by a builder that went bust, and is in major hock with the bank. So the bank have come in and finished the project, and are left with a property that "owes" them more money than they could comfortably recover with a sale.
So, rather than liquidate the loss, the bank (we don't know which one) has decided to become a landlord for a few years - I guess they can at least get some income and hold an "asset". So, we may have a bank as a landlord for a couple of years, as long as they drop the asking price enough that we can afford it - nice place though.........

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