Pay off your mortgage in depreciating houses is 1 sterling United Kingdom couple wanted to cry but no tears
Hunter and his wife live in Liverpool, Garrick Street, is laoshequ. 27 years ago, they spent around £ 35,000 in here to buy a House with 3 bedrooms. They paid off the loan, expected here enjoy their twilight years after retirement. Who knows, 8 years ago, informing them of the municipal government, the street to demolish renovation, willing to offer £ 85,000 to buy their property. But people think that House is worth £ 120,000, so refused to sell it.
in 2002, the Labour Government introduced a controversial rescue of the real estate market program, City Government and began buying up real estate, Hunter couple of neighbors have moved away. But the Liberal Party and conservative coalition Government came to power after spending cuts, bailout funding shortfalls, Liverpool had to launch "a pound can sell" programme. Buyer spent £ 1 can own the House, but it must be within the 1-year renovation, and live at least 5 years.
now, only a Hunter in this street. Hunter's wife, told the daily mail, was lively and harmonious communities now is like "quarantine", no street lights, infested with thieves, littering and even speak to her home in the evening throwing bricks. Hunter and his wife want to sell the House, but the buyer could not be found. Forced to hunt and his wife agreed to surrender the House, moved into the city to provide them with housing elsewhere.