Credit Crunch Hits BokLoks
photo credit: Ian Muttoo
BoKloks takes a battering because of the slow down in the UK mortgage lending market. Click here to read the FT report. BoKloks provide high quality housing and are an initiative of Ikea in Sweden that may provide answers to first time buyers looking to get their foot on the property ladder.
BokLoks is collaboration between Ikea and construction company Skanska and is available in the UK under and exclusive license with property company Live Smart @ Home.
The concept is revolutionary so you might need to sit down to take this is. Let me know when you are ready. Its cheap housing fitted out with stuff from Ikea.
That’s right – now you can buy a house that matches your furniture, and what’s more these houses are available for rent, shared ownership or outright purchase.
Do read the article in the FT because it’s actually got nothing to do with a slow down in the mortgage market, and everything to do with lenders not liking the way that BoKloks are constructed from wooden frames as opposed to bricks an mortar.
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