Renting in Hackney

PH4T

Hello all,

Does anyone here live in Hackney?

My lease in Islington is up in September and I am thinking of moving a bit more East as I quite like places like London Fields and Haggerston.

It seems like a vibrant yet slightly sketchy area.

What are the pro and cons?

Mark

biZrb

A friend of mine has a room going in her place in Homerton. It's available on Sept 1st if you are interested?

PH4T

biZrb wrote: »

A friend of mine has a room going in her place in Homerton. It's available on Sept 1st if you are interested?

Thanks for the offer biZrb but looking to get a 1 bed.

danotroy

London Fields & Haggerston are far from sketchy.

PH4T

danotroy wrote: »

London Fields & Haggerston are far from sketchy.

I was viewing places in Haggerston on Sat. It's a lot sketchier than Islington.

LadyMayBelle

I've just left Hackney after being there 2.5years (returned to Ireland). Loved it, lived beside the Lidl? Best decision we ever made, having lived in Kilburn and Leytonstone before. Never had any trouble, area has super coffee shops, food spots, festivals, parks and good transport links (Hackney Central, London Fields, Bethnal Green and buses 24hours). Yes, it's expensive, but it's a great spot to live.

PH4T

LadyMayBelle,

Where do you think are the nicer spots to live in?

I work in Covent Garden and probably going to get the bus into work.

I've been looking in the area between Hoxton, Haggerston, London Fields and Cambridge Heath.

Mark

Woden

I'm in Hackney also for the last 18 months or so up at the Dalston end. Hoxton, Haggerston, London Fields they are all fine areas. I'm not as familiar with Cambridge Heath.

If you're closer to the Dalston junction end you've more options for transport. You've got both over grounds and both the 38 & 76 buses will put you near Covent Garden. My advice would be to be a little bit away from Kingsland Road/High Street.

One thing I'll point out is that if you're on a tube line at the moment it's just not as convenient being in east london. I was at Highbury & Islington before which is only 2 stops on the overground to Dalston Kingsland but it can add 15 mins to your journey with the connect. I care less now though I started cycling to work

Clapton is nice also and there is Chatsworth road in homerton which I've not actually gone to yet!

Lots of good pubs around stocking east london's tasty craft beer

PH4T

Woden wrote: »

If you're closer to the Dalston junction end you've more options for transport. You've got both over grounds and both the 38 & 76 buses will put you near Covent Garden. My advice would be to be a little bit away from Kingsland Road/High Street.

The 38 bus is a good shout, that is the bus I currently get from Islington. There seems to be one every 3 mins!

Woden wrote: »

One thing I'll point out is that if you're on a tube line at the moment it's just not as convenient being in east london. I was at Highbury & Islington before which is only 2 stops on the overground to Dalston Kingsland but it can add 15 mins to your journey with the connect. I care less now though I started cycling to work

I hate the tube and never get it. Toying with the idea of getting a bike but wary that I will get mangled under a truck :eek:

Woden

Its fairly safe on the cycle routes and stuff through DeBeauvoir and onwards to Sadler's Well and such. This crowd put a cheap bike together for me in an hour. Best thing i've done this year cut my commute in half no strike issues etc. http://www.hackney-cycles.co.uk/

DeBeauvoir itself is nice but I expect it's pricey and the north of Balls Pond road there is Canonbury/Mildmay also nice

LadyMayBelle

Get a bike.

Id go with anywhere between London Fields to Homerton (along Well Street)if youve the money, but am sure Hoxton, Haggerston Dalston are as nice. BUT looking back i wish i knew more about Clapton when we moved to London Fields- bit cheaper a flipping lovely. You think it's not well linked into transport but the whole area is well serviced by buses. Chatsworth Road, lovely coffee shops, minutes walk from Hackney- lots of pubs and resteraunts, go for a wander one weekend, you'll like it.

Cycling has been fine for me, my partner cycled from Well Street to Westminster everyday, no bothers.

biZrb

I also recommend getting a bike!
TFL do one day cycling courses that are free, if you feel a bit nervous on the roads.
The only time you'll get run over by a lorry is if you travel along side it at a junction.
(sorry for bringing the thread slightly off topic)

cashback

I live in Clapton/Homerton, very close to Chatsworth road. I like the area a lot, although I did just about prefer living in Streatham before this.

But it's a good place to live. Great restaurants/cafes, very diverse and I've never seen or experienced any trouble.

If you're looking at the bus, might be a bit far out, but I get the overground from Clapton to Liverpool Street every morning which takes 12 minutes. Otherwise I can get the Overground from Homerton to Highbury and Islington then the Victoria Line to Oxford Circus etc. Only takes 20-25 mins altogether.

PH4T

I had a look at Clapton/Homerton but it's a bit too far from where I work in Covent Garden.

PH4T

I viewed this one bed off London Fields on Friday.

Fairly priced or complete rip off?

Woden

Expensive. That's in the 2 bed price range to me. Guess you're paying for the pool. No floor plan but I guess that's the living space between the kitchen and the window. Looks small.

biZrb

I think at that price they could at least furnish it.

PH4T

I offered £460 if they furnished it.

The said they would accept £460 unfurnished.

I don't think I should be paying for sofas, barstools or curtains that I can't really take with me when I move out.

Hmmm

BrokenArrows

PH4T wrote: »

I offered £460 if they furnished it.

The said they would accept £460 unfurnished.

I don't think I should be paying for sofas, barstools or curtains that I can't really take with me when I move out.

Hmmm

Ya paying that money for an unfurnished place would be mad and a lot of hassle.

PH4T

The agent said the landlady just bought it for £425k.

I did a quick calculation here and it looks like if she put 10% down then her monthly mortgage would be £1,915 or £440 pw. Anyone know is that a fair assumption?

biZrb

It's really difficult to guess her mortgage repayments, she could have had a 20% deposit, be on a fixed rate mortgage etc
The interest rate is only 0.5% at the moment so if she did have a 10% deposit and isn't on a fixed rate her monthly repayments are £1507 (according to that calculator)

PH4T

biZrb wrote: »

The interest rate is only 0.5% at the moment so if she did have a 10% deposit and isn't on a fixed rate her monthly repayments are £1507 (according to that calculator)

Where do you get 0.5%, this site says >3%?

biZrb

It's the current Bank of England base rate, thats an American base rate youve used.

Woden

0.5% is BOE base rate at the moment. Anything the banks offer then as a tracker mortgage is generally a spread over this rate and the spread varying with LTV. So with HSBC e.g. you can get a 1.99% life time tracker mortgage (0.5+1.49) if your deposit is 40% (60% LTV)

But I agree you can't really guess the mortgage e.g. its buy to let as another factor then also and then the £10,000 plus of stamp duty solicitors costs. There is also the cost of the service charge which I guess is being buried in the rent

biZrb

You also need a bigger deposit if you've got a buy to let mortgage, so her repayments are lower than a 10% deposit mortgage.

PH4T

Woden wrote: »

But I agree you can't really guess the mortgage e.g. its buy to let as another factor then also and then the £10,000 plus of stamp duty solicitors costs. There is also the cost of the service charge which I guess is being buried in the rent

Fair point, I think the service charge at that building is horrific as it includes the pool.

IamtheWalrus

PH4T wrote: »

I viewed this one bed off London Fields on Friday.

Fairly priced or complete rip off?

Not a bad price for the place but still pricey in any man's league. I was paying 330 in a one bed on Camden, modern but not nearly as nice as that.

cashback

PH4T wrote: »

The agent said the landlady just bought it for £425k.

I did a quick calculation here and it looks like if she put 10% down then her monthly mortgage would be £1,915 or £440 pw. Anyone know is that a fair assumption?

It's very likely she has an interest-only mortgage.

Worked in mortgages here for a few years. Most Buy to lets were interest only. She could conceivably be paying around £500 a month. Definitely won't be over £1000 I would say.