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Old 23.10.2018, 19:51
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

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I know a number of people who bought London properties in the 60s and 70s but have been forced to move out because the increase in property values has driven up their property insurance to levels their pensions are inadequate to cover

Of course, they can now buy very nice properties outside London but far from their friends and usual haunts!
Property insurance should not be very high as you're insuring the rebuilding cost & not the land value. The land value is far more than 50% of market value. Buildings should be in the 250-500 range, I know someone just quoted 175 for a flat they paid 725k for, I don't know the rebuilding figure but sub 200k
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