Buying Property And Leaving It Empty - For Squatters
WHILE the housing market edges ever closer to a full-blown crash, first-time buyers are now being squeezed out of the market by speculators who are buying up new homes and then leaving them empty.
According to the Mirror, huge numbers of properties are being kept empty as investors wait for the prices to soar before cashing in, with these “buy-to-leave” speculators making a killing without having to go to the bother of having tenants.
Apparently only 30% of city centre apartments in Leeds are occupied while cities such as Liverpool are also suffering.
Squatters, get squatting.
Posted: 20th, April 2007 | In: Money Comment (1) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink
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April 21st, 2007 at 12:39 am
So a huge amount of properties are being bought but left empty because buyers hope to make a financial killing as property prices are expect to soar even further in the UK.
An opportunity for squatters has been mentioned and the squatting law is an old law that goes way back.
About 20 years ago,Lambeth council in London wanted people to check on empty properties within that borough. I knew someone who was considering doing some temporary work to make some extra cash.
Lambeth council gave this particular woman a list of more than 120 addresses in the borough of lambeth and asked people to call at these addresses to see if they were occupied. The council itself didn`t have a clue!
The person given the addresses did NOT have a security check by Lambeth council and yet, they had very clear information freely given to them. Perfect information for any would be squatter or criminal knocking on a door in that borough.
Greed is everywhere is property obsessed UK and is it any wonder when the demand for anywhere to live has become so great with record amounts of people entering Britain?