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Despite their low-cost, bohemian image, houseboats can cost a pretty penny and often rival the price of a property on land. Now, those living on rivers and canals in London fear they will be priced out of for good as soaring mooring fees threaten their way of life. The Canal and River Trust (CRT) has raised mooring fees at some sites it owns by 10% for two years in a row. The Conservative government previously announced a £300m cut in funding to the trust, due from 2027. For many permanently moored in centrally located marinas, fees have shot up by thousands of pounds. In Ice Wharf Marina, situated along Regent’s Canal in London near King’s Cross station, the annual mooring fees have risen by more than 50% in the past nine years. In 2015, residents could expect to pay about £8,850 for the year with a 10% early payment discount. Now the discount has been cut to 2% and residents face an annual bill of about £15,000. Alexandra Lyons, a university researcher, lives on a houseboat in the marina with her 15-year-old daughter. She bought her boat for £180,000 but says that due to the soaring mooring rates she would be lucky to get £100,000 for it. She previously owned a leasehold flat in Stamford Hill, north London, but sold it at a 30% loss after the building’s owner converted flats in the block into accommodation for prison leavers. “It descended into chaos and became really unsafe. They were threatening to kill my neighbour who was pregnant. It was a really difficult situation,” she said. Jimmy Baillie #Ukpropertynews #ukproperty #realestate #financialgoals #buytolet #financialintrdusty #ukbrokers #buytosell #investors #taxes #bankloans #mortgageproperty #mortgage #businessdevelopment 

London houseboat residents fear rise in mooring fees will price them out

London houseboat residents fear rise in mooring fees will price them out

theguardian.com

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