Starting Out in York, UK

[tjrouill]

Hello

I've just joined this lovely forum and have already found some great info. I'm researching buying a property to use as a holiday let in York and I am curious if anyone else from York is on these forums and would be receptive to me asking them a few mostly York-related questions?

Thanks for your time.

Tyler

[vacancesthezan]

York, UK?

Is there another one? Vaguely heard that there may be a small "new" one somewhere - not sure where!

Sorry to hijack but we are originally from York and still love the city. We feel sure that there will others on this site who still live there and can offer sound advice.

It is a great place to visit with lots to see and do, Would recommend that you buy within the walls though so that your renters can walk or cycle everywhere. Parking is a problem.

Good luck with the venture

VT

[tjrouill]

Thanks for your message. Yes, that small new one comes to mind, but don't forget York, PA and Yorktown, VA (population 109). I didn't want anyone to get confused!

I'm with you on finding somewhere within the walls, or at least close enough to the hotspots for people, like Bootham or Gillygate area. Parking is a nightmare (like most places in the UK), but hopefully if I were to find somewhere within .5 miles of the rail station or so, that could be a good selling point for those not visiting by car.

There's a lot of new flats going up around Stonebow which look lovely, but will look considerably less so when they are underwater. It's a potential minefield given York's propensity to flood. Possibly one of the reasons you left, if not the flooding, then the rain that causes it!

Thanks

Tyler

[Puffin Lodge Filey]

Hi Tyler
I'm from York and have lived here all my life and not been put off by the flooding! I don't think York gets any more rain than other places (Wales, the Lake District?)!
We are also new to letting but ours is on the coast near Filey.
I don't know much about holiday lets in York but I can try and answer any other questions about the city.

[vacancesthezan]

I'm with you on finding somewhere within the walls, or at least close enough to the hotspots for people, like Bootham or Gillygate area. Parking is a nightmare (like most places in the UK), but hopefully if I were to find somewhere within .5 miles of the rail station or so, that could be a good selling point for those not visiting by car.

There's a lot of new flats going up around Stonebow which look lovely, but will look considerably less so when they are underwater. It's a potential minefield given York's propensity to flood. Possibly one of the reasons you left, if not the flooding, then the rain that causes it!

Thanks

Tyler

Didnt mention the "f-word" as that goes without saying for York. We saw that the Foss barrier failed but they have upgraded it and added new pumps so hopefully it shouldnt fail again. Optimistic hat on today.

The Ouse has and always will flood though. Fact. We have fond memories of York with the castle surrounded by flood water going back to childhood so know the problems.

However it doesnt seem to make any difference to people wanting to buy there, live there or visit there. So unless you plan to buy a garden flat on the banks of the river not sure that you can really plan for it. Getting insurance may be different though! You cant ignore it totally but wonder whether you souldnt just go with the flow (sorry for the awful pun).

Love the idea of "citybreaks" (maybe 3 to 5 days) although you would then be missing out on the rest of "god's own county" which is only a short drive away. Tricky!

New build or maybe a flat conversion of one of the absolutely stunning old big houses that line the streets in and out? Dilemma.

Have fun!

VT

[oasiscouple]

I was born in York and one of my earliest memories is having to take a boat to go into town in 1947. There had been a very cold winter with weeks of snow which created extensive floods when the big thaw came. We lived at 19 Sycamore Place off Bootham and in 1954 my father sold the house for £1700. Difficult to believe now. Our old house has been a successful B&B for many years and I stayed there a few years ago when on a family visit with my partner, sleeping in what had been my bedroom 60 years ago. More recently I was looking for a B&B for a few days in June for a family birthday celebration but everywhere was either already booked or too expensive so we ended up staying at the Feathers Hotel in Pocklington, much more reasonable price. So I would say it could be a good investment depending on location and price. I have lived and worked overseas for over 50 years but love returning to my home town.

[tjrouill]

Thanks everyone for your messages. As a transplant to York, it is great to read the thoughts of those born and raised here.

oasiscouple; fascinating story about your old house growing up. Must have been strange to stay in your old bedroom as a B&B!

vacancesthezan, you hit the nail on the head really. York always floods. I remember looking at a medieval map showing what had flooded hundreds of years ago, it was essentially exactly the same as what floods now! There are some wonderful properties in York, almost spoiled for choice except that many of them are well out of my price range!

Puffin Lodge Filey; You are absolutely right. I used to live in the Lakes and it practically rained everyday for 3 years!

I'm curious, are there any areas in York that you just would absolutely not consider buying in? Or if the flip side of that question is easier, areas that you would focus on? They have all of these new flats like at Hungate, but I'm wary of buying something what will certainly flood within a year or two. Especially when it comes to flood insurance. Do you currently live in a flood prone area in York? If so, whats insurance like if you don't mind me asking?

Thanks again everyone. Most helpful.

[Puffin Lodge Filey]

Sorry, I can't help with advice on insurance for flood prone areas as we live four miles outside the city centre. Good luck with your venture and keep us posted on what you decide.

[tjrouill]

We have looked at a few properties including 3 in Fulford we liked. Close to the river but probably (!) far enough away to avoid any non-biblical flooding. Two of the properties had successful offers accepted before we had decided (you snooze you lose I guess) and the other one falls below the value of the holiday let mortgage threshold for our chosen lender.

Does anyone have experience with taking out a holiday let mortgage? I know it is a niche product that the big banks don't seem to offer, although I'm sure more will start to as the holiday let market keeps growing. I'd be interested in reading experiences of others with this type of mortgage product.

Thanks

[oasiscouple]

Can't answer the query about a holiday let mortgage, but just to say I think Fulford could be a good area. I owned a house in Low Moor Avenue, Fulford for a few years and remember seeing a few B&B's but not sure about Holiday lets as they are not obvious. Fulford is within easy reach of the city centre, either by bus or longish walk and it is a quiet residential area. When I got a job in France I had no problem finding tenants, although that was not holiday lets.