X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Buy-to-Let

    County Durham - Horden

    Hi, I am looking into Horden (County Durham) to invest in single BTL's.  There has been a lot of negative press on the area a couple of years back. 

    A part of the regeneration programme in County Durham, there is a new railway station due to complete in 2020 which will increase employment opportunities.  Is anyone currently investing in that area or familiar with the area? 

    If so, what are your thoughts on investing in single lets there?

    0
    0

    My understanding is that this is one of the poorest areas in the country with a lot of tenants in receipt of LHA/UC.

    I think that these kind of properties should only be run by landlords who are local to the area and who are very experienced and hands on.

    John Paul of Castledene operates in the area as a landlord and also a lettings agent, and I am sure he would be willing to give you some advice if you get in touch with him.

    0
    0

    Around 2 yrs ago a Housing Assoc in Horden was forced to sell some 170 x 3 bed houses - average price achieved was c.£17000 per unit.

    Reason being nobody wanted to live there as economy had failed - and benefit claimants could not afford the rent on capped LHA.

    In practice only the single jobless claimants wanted to live in these 3 bed houses - and of course below age 35 you get only SAR/bedsit rate of LHA - and a single working age Council tenant in a 3 bed property would not only have a capped HB allowance but also be charged £25 Bedroom Tax.

    Check out LHA rates for Horden then think long and hard about wasting your time and money.


    1
    0