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Even with a cheap mortgage it is still a pricy property

Date: Tue, 15 Nov 2005

Shopping around for a cheap mortgage may make some properties affordable but others will always remain above budget.

A derelict bungalow in Poole, Dorset has just been sold for £2.75 million in one the country's most expensive seaside resorts, reports BBC News.

It is believed that the house, which was built 50 years ago, has been purchased by an anonymous buyer who plans to demolish the family property and replace it with a new home.

Francis Payne, a manager at local estate agents' Tailor Made, which managed the sale, told the BBC News website: "There's quite a few of these types of properties left in Sandbanks.

"But people do not tend to part with them, only once in a blue moon," he added.

A recent study concluded that Sandbanks is the UK's most expensive seaside resort, with property selling for an average of £531,280.


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