http://citycyclingedinburgh.info/bbpress/ CityCyclingEdinburgh Forum » Topic: "Mine subsidence land to be new housing plot" en Fri, 17 Apr 2026 07:27:58 +0000 http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150444 Sat, 26 Apr 2014 07:37:11 +0000 Charterhall 150444@http://citycyclingedinburgh.info/bbpress/ <p>Cyclingmollie, the original lender is the one financing the development in the first place. They will very much care if the developer is unable to sell the properties. </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150430 Fri, 25 Apr 2014 21:05:59 +0000 Cyclingmollie 150430@http://citycyclingedinburgh.info/bbpress/ <p>As I understand it the banks create money at the point of sale of the mortgage. They can take the full value and the full risk over the full term of the mortgage or sell it on to reduce the risk and the profit. If these mortgages are for poor properties, sub-prime, they won't pay back the cost to whoever ends up with them. The banks work hard to disguise these sub-prime packages. But the original lender will probably not be involved by then. And won't care. </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150421 Fri, 25 Apr 2014 19:30:23 +0000 chdot 150421@http://citycyclingedinburgh.info/bbpress/ <p>"do you really think that a bank would risk 100's of thousands, perhaps millions"</p> <p>Good question. </p> <p>20, 10, maybe 5 years ago banks lent money to 'trusted' developers. </p> <p>If things went badly, the bank got the 'asset' and sold it again - sometimes to people who were involved in the project previously. </p> <p>Then there was the crash/recession. </p> <p>Maybe things are different now(?) </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150417 Fri, 25 Apr 2014 19:19:31 +0000 Charterhall 150417@http://citycyclingedinburgh.info/bbpress/ <p>Kaputnik, do you really think that a bank would risk 100's of thousands, perhaps millions ?, to fund the development in the first place if it didn't think that the potential buyers would be able to get the necessary mortgages and insurance to do so ? </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150348 Fri, 25 Apr 2014 14:20:28 +0000 kaputnik 150348@http://citycyclingedinburgh.info/bbpress/ <p>@Pintail it's not the risk of building the houses, it's the risk that a far removed lender or insurer will take any risk in stumping up the money (or protection) at an affordable rate (given I think these houses are meant to be affordable) when there's the remotest chance of some sort of subsidence.</p> <p>The buildings I'm sure won't fall down (probably, if they're better footed than those up at Moredun were), but I'm sure banks and insurers will charge handsomely for the trouble of mortgaging and insuring them. If at all.</p> <p>Scotland won't fall down or float off if it were to proceed with independence. The insurance and loans may or may not be more expensive though, depending on which side of the economic argument you believe. </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150325 Fri, 25 Apr 2014 13:21:39 +0000 chdot 150325@http://citycyclingedinburgh.info/bbpress/ <p>We might all be if owned/funded by certain banks! </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150322 Fri, 25 Apr 2014 13:12:49 +0000 wingpig 150322@http://citycyclingedinburgh.info/bbpress/ <p>Are you a shareholder of the interested developer? </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150316 Fri, 25 Apr 2014 13:05:48 +0000 Charterhall 150316@http://citycyclingedinburgh.info/bbpress/ <p>Curious that a forum that is so dismissive of the risks of independence should be so risk averse when it comes to building a few houses. </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150313 Fri, 25 Apr 2014 13:02:56 +0000 chdot 150313@http://citycyclingedinburgh.info/bbpress/ <p><img src="https://farm8.staticflickr.com/7386/14002851891_288d981e3a.jpg"></p> <p>1949 Abercrombie report </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150309 Fri, 25 Apr 2014 12:52:52 +0000 chdot 150309@http://citycyclingedinburgh.info/bbpress/ <p>I once worked on a building site in the middle of a river putting in footings for a small housing development. </p> <p>In spite of dewatering, it was impossible to dig neat trenches in the gravel. </p> <p>The contractor poured so much more concrete than they had priced for, they went bust. </p> <p>No doubt this site has been fully surveyed and quantified and the concrete will flow into every air pocket. </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150306 Fri, 25 Apr 2014 12:46:56 +0000 Charterhall 150306@http://citycyclingedinburgh.info/bbpress/ <p>Loaded with questions to which the developer fully expects to provide satisfactory answers. Not a problem. </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150257 Fri, 25 Apr 2014 09:42:47 +0000 kaputnik 150257@http://citycyclingedinburgh.info/bbpress/ <p><em> think kaputnik is right about mortgages and insurance </em></p> <p>Having just filled out extensive paperworks for both, I can attest they are loaded with questions to weedle out anyone in this particular set of circumstances. </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150243 Fri, 25 Apr 2014 07:50:21 +0000 chdot 150243@http://citycyclingedinburgh.info/bbpress/ <p>It IS a shame about the Polo Fields, but this is the way the housing "market" is 'allowed' to operate. </p> <p>This proposal is also on what most people regard as greenbelt - as is the next bit which has planning permission. </p> <p>There is plenty of land at the Waterfront with planning permission - but not as 'desirable'. </p> <p>I think kaputnik is right about mortgages and insurance - so another set of 'market forces' will come into play. </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150242 Fri, 25 Apr 2014 07:01:00 +0000 Charterhall 150242@http://citycyclingedinburgh.info/bbpress/ <p>Sounds like an innovative way to tackle not one but two pressing issues, the need for housing land and the need to make the site safe. Sadly, too late to save Colinton's much loved Polo Fields but perhaps will reduce pressure to build on greenbelt at Balerno. </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150162 Thu, 24 Apr 2014 13:36:10 +0000 kaputnik 150162@http://citycyclingedinburgh.info/bbpress/ <p>Good luck to anyone trying to get a bank to mortgage one of these properties or an insurer to cover for buildings insurance... </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150157 Thu, 24 Apr 2014 13:15:33 +0000 Nelly 150157@http://citycyclingedinburgh.info/bbpress/ <p>Yeees, great idea Mr Developer.</p> <p>I grew up in Gilmerton and used to play up at Hyvots. I had long moved away by the time the massive holes appeared there, but anyone who remembers the size of these things (enough to take a car? house maybe?) would think twice about buying anywhere there are old workings.</p> <p>Really bonkers idea. </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=12657#post-150156 Thu, 24 Apr 2014 13:06:55 +0000 chdot 150156@http://citycyclingedinburgh.info/bbpress/ <p><a href="http://www.edinburghnews.scotsman.com/news/mine-subsidence-land-to-be-new-housing-plot-1-3386857" rel="nofollow">http://www.edinburghnews.scotsman.com/news/mine-subsidence-land-to-be-new-housing-plot-1-3386857</a></p> <p>"</p> <p>the 20-hectare plot could now be brought back into use, after developers vowed to invest up to £8.5 million filling vast underground tunnels with concrete.</p> <p>"</p> <p>That's all right then. </p>