Rat and Mouse
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Thu
20
Nov

Rough Luxe - a truly original London hotel [Wallpaper]
Credit crunch forces Wembley back into Olympic venue contention [Guardian]
Sales are up [Telegraph]
The expensive streets of west London [WhatMortgage]

The Rat and Mouse - the best of London property news, since 2005

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Wed
19
Nov
Personally, as one of the taxpayers who recently contributed to the banking system, I don’t think there’s much to be said for forcing banks to borrow at the Libor rate and lend at 0%. That feels like bad business and I don’t want to buy a bad business.

Our publisher looks at the relationship between the banks and the Government and asks, which is worse... politician or banker?

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Wed
19
Nov

Estate agents are selling more homes: one more a week, in fact, at seven each in October. But they've more unsold properties on their books. More here.

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No transmission dates, as yet, but we'll keep you informed. We do know, however, that it's to be called Gazumped. Something here and here.

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Meanwhile Kremer Signs, the market-leading boards manufacturer, has laid off 26 of its 64-strong workforce and says monthly production is down by almost 20,000 boards a month – and by 30,000 from peak.

It's peak? 80,000 boards a month. And just to show how bad things are, those figures include a 100% increase in demand for to let boards. It sounds like a mixture of estate agencies going down, and estate agents choosing to re-use tatty boards rather than order fresh ones. Good news for trees, though, I guess.

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Looks like there's some mischief going on. Forget whether it's justified to blame a TV presenter for an international property boom, just lament the lack of imagination.

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Tue
18
Nov
If either of you two charlatans had an ounce of decency you would apologise to the millions of people you helped in no small way get into the misery of negative equity. And give all the money you got to charities for the homeless

Oh, for Christ's sake. The programme is what is known in the industry as "a piece of entertainment". K&P aren't IFAs; intelligent viewers take certain things from their programmes and reject others. We're not sheep. And what about the people - the vast majority - who aren't in negative equity and have made a killing? The programme was strange, though. Our friend Henry Pryor was suave; Merryn Somerset Webb eminently sensible. But those K/P chats... I got the impression Kirstie knows she's being blamed by the Internet's hysterical haters for virtually the entire credit crunch, and she's attempting a little damage limitation. Clearly (judging by Mr Angry) it's not working.

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Over at Rat and Mouse HQ, we can remember when Will Anderson began his ambitious eco-home self-build in the heart of Clapham. In fact, I have a feint recollection of a diary, running in - I think - the Independent. Anyway, it was completed a couple of years ago, and now the Guardian is giving us what we've wanted all along... the house, in pictures.

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Standard variable rates... once the "punishment" rate you paid if you'd been too flakey to sort yourself out a nice fixed rate mortgage or tracker. But not any more:

Francis Ghiloni, marketing and business development director at mform.co.uk, says: “The lowest SVR deals are currently among the better deals on offer with rates as low as 5% so it is disappointing that new borrowers cannot apply.

So that's easy then. Just move to a new lender and go onto their SVR... no fees, no problem. Not necessarily. Lenders are apparently refusing new borrowers access to an SVR loan, or charging, as bank base rates drift down.

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Perhaps we were being a little cynical. According to this, the owners have already received a £1m bid from an Australian Beckham fanatic. But really??!!

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Mon
17
Nov

According to the LA Times, it's two miles between the US Embassy's old home and it's new, as the crow flies.

That crow, however, would be flying across the Thames to London's south side, and therein lies the rub. As any resident will tell you, the river is more than just a physical divide between the British capital's upper and lower halves; it's a psychological and social one as well.

You don't see paragraphs like that in the wild too often. The piece goes on to characterise the difference between north of the river, and south of the river, as understood west of the Atlantic... it's a fun read.

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In Glasgow, ftbs queue for one-day-only bargains {Estate Agent Today]
Hamptons pull out of flotation [Estate Agent Today] Kirstie & Phil a hit on R1 [BBC blogs]
Up to 40% of btl-ers face negative equity (... by 2009... maybe) [Telegraph]
Globrix forced to pay for listings [Renthusiast]
Phil Spencer uncovers foxy property twins [Sunday Times]

The Rat and Mouse - it's about your house

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We're hearing - and from more than one source, now - that a leading UK estate agency is asking its partners to stump up a quarter of a million of personal money to keep things liquid. Big cheque, big problem. The name? We're just waiting for the Rat and Mouse legal department to give us clearance...

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The panic has led to some businesses making desperate attempts to secure their survival, with one estate agent even converting part of his office into a café to generate extra income.

This, and a new report from the Centre for Economic and Business Research, that predicts as many as 50,000 estate agents could be without a job in the next nine months.

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So, this three-bedroom terrace in Leytonstone is under offer, somewhere around its asking price of £204,995. But this three-bedroom terrace in Leytonstone is on Gumtree with an asking price of £850,000. The difference? The second one used to be home to David Beckham. Here's the blurb:

20081117BeckhamA THREE BEDROOM HOUSE WITH BATHROOM TOILET AND GARDEN IN LEYTONSTONE THIS HOUSE IS FOOTBALLER DAVID BECKHAMS FIRST HOUSE HE LIVED IN BEFORE MOVING TO CHINGFORD THE THROUGH LOUNGE HAS WOOD FLOORING LOOKING ON TO THE FRENCH WINDOWS AND THE GARDEN WITH A FITTED KITCHEN AT THE BACK OF THIS LOVELY TOWN HOUSE IN LEYTONSTONE THE TUBE TAKES 20 MINUTES TO THE WEST END ON THE CENTREAL LINE AND IS IN ZONE 3 LEYTONSTONE AS MANY FAMOUS PEOPLE WHO WERE BORN HERE DAVID BECKHAM SIR ALFRED HITCHCOCK DAVID BAILEY JONATHAN ROSS TO NAME A FEW IF YOU WOULD LIKE TO MAKE A OFFER FOR DAVID BECKHAMS FIRST HOME CONTACT COLIN [telephone number removed]

Potential for a Beckham museum perhaps?

[via Estate Agent Today]

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Fri
14
Nov

Forbes has a look at London's property winners and losers, ranking boroughs for resilience to the market downturn. The most resilient? Westminster and Hackney share top honours (each with a year-on-year rise of 2.7%), followed by Kensington & Chelsea (up 1.7%). Topping the most ravaged by the bust list are Waltham Forest (an annual fall of 5.8%), leafy Ealing (down 3.6%) and Lambeth (down 3.5%). Read the feature, here.

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