The Home Crowd

A British couple recently found out their coastline home was only valued at £1 when trying to use the property as collateral for a business loan.  The reason why?  The coastline and cliffs at the rear of their property has receded from 500 yards to 65 over the past 20 years.

They had assumed their home was worth around £80,000 but the loan was refused after a NatWest valuer decided it was virtually worthless due to ‘chronic coastal erosion’.

Seems like by my math, they’ve got another few good years with a beautiful view, at which point I’m fully interested in buying the property for 3 dollars, U.S., so long as they toss in that riding mower…

Full article at This is London