In response to the savage cuts to public spending announced last week, the Bank of England has warned that property values are unlikely to rise – and will probably fall – during 2011, as lending remains stubbornly low and household budgets are squeezed. In September, mortgage lending fell to a 10 year low, with none [...]
Continue reading " Bank of England Pessimistic On Home Values "
At first sight, the massive fall in funding for all kinds of property-related projects – including social housing, building for schools, slashing the Communities and Local Government capital funding by 74% and so on – will most likely have a severe and long-lasting effect on the sector. Even the Royal Institution of Chartered Surveyors (RICS), [...]
Continue reading " What The Spending Review Means To The Property Market "
We’ve all heard stories about neighbours from hell making people’s lives miserable: according to a recent survey by Halifax Home Insurance, more than 360,000 Brits moved home last year because of problem neighbours. To help you avoid becoming one of these statistics, here are some suggestion on who to look for in the place next [...]
Despite softening home values across the UK, first-time home buyers (FTBs) are finding it ever harder to get onto the property ladder, according to a new report by Genworth Financial. The report found that the average 10% deposit needed by FTB’s is now £18,600, whereas in London it is £29,700. Four-fifths of FTBs under 30 [...]
Continue reading " First-Time Home Buyers Face Uphill Struggle "
The term ‘fractional ownership’ has steadily grown in currency over the past decade, as companies like Fractional Life have grown in size and taken on dozens of properties. Basically, it means that you buy a fraction of the freehold of a property and can then use it for whatever fraction of the year you have [...]
The amount of home remortgage applications sank to their lowest level for more than a decade in August, according to figures from the Council of Mortgage Lenders. Remortgage Numbers Only a quarter of new loans were remortgages, out of around 25,000 loans by people switching to new deals – that’s 19 per cent fewer remortgages [...]
‘Look out, SHAAAAAARK…’ With the current dearth of contradictory information regarding the property market and whether house prices are rising, falling or whatever, consumers could be forgiven for thinking they were being duped by various authorities, providers and other sources of market data. My very strong piece of advice here is this: When you are [...]
Continue reading " UK property: A startling view of some facts behind the figures… "
More than 6,000 property investors, second home buyers and trade professionals are expected to congregate at London’s ExCel centre from 14-16 October for the Property Investor Show & OPP Live. Among the highlights of the show will be: • A live auction of more than 200 property lots – one of the largest residential property [...]
A new survey by Savills has identified the top six areas of England where property values have continued to rise, despite a general downturn in prices across the country. 1. Kensington and Chelsea – average property value £1,127,442 Fueled by overseas buyers who are taking advantage of a weak Sterling and buoyancy in their own [...]
Get Conveyancing Forms Filled Out Quickly! Right from the start your conveyancing lawyers will be sending you different documents to complete. Finding time to fill them out is tough and boring but the reality is that your conveyancer will not be able to do any work or progress the transaction with them. Try to think [...]
Continue reading " Better Conveyancing – How To Work With Your Solicitor "
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