Property Prices in the UK Accelerated in August

The UK’s property market has been on a bull run for the last few years. It has transformed from a doldrum of economic ruin to an engine of the UK’s economy.
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How to Get the Best Price for Your House: Top 5 Tips

Whilst house prices are booming in some parts of the UK, particularly London. The housing market isn’t particularly strong in many places right now, but that doesn’t mean that sellers don’t want to get a good price when they decide to bid goodbye to their homes. With small differences in price being worth thousands, it’s certainly essential that you get as much as possible when you sell, these five tips below will help you.   Know Your Market Every type of house has a type of buyer, and if you know what that is, you can cater for it. Tailoring your approach and presentation, even the estate agent you choose, will mean that you appeal better to your target market. This information can easily be found with a little bit of research online. Be Neutral When presenting your home to potential buyers, you want them to visualise themselves in your...
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Top Tips for Investing by the Sea

There’s probably not a British person alive who doesn’t look back with fondness on happy childhood days spent playing at the seaside. In fact, it’s almost certain that this sense of nostalgia has something to do with the popularity of seaside holidays in the UK, where every year hundreds of thousands of Brits will forgo a foreign excursion. In favour of a more traditional vacation in places such as Blackpool and Southend, whose popularity soared with the advent of ‘pleasure palaces’ in the Victorian era.
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Mortgage Cuts in Britains Future

Growing concerns over the state of the UK’s property market have led to a number of large institutions putting plans in place that would see a curb on the amount of high level mortgage lending being offered to consumers. Mark Carney, Governor of the Bank of England, was recently quoted as saying, “… recovery [of the housing market outside London] is fragile and … it’s important we don’t disrupt this recovery.” He went on to point out high LTI mortgages as being one of the biggest risks to the health of the UK property market.
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The Property Ombudsman launches Code of Practice for newly-formed The National Association of Property Buyers

Some of the UK’s largest and best-known property buying companies have collaborated with the Property Ombudsman (TPO) to create a new Code of Practice to address the issues raised in the Office of Fair Trading’s (OFT) market study into the ‘Quick House Sale’ sector.
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We talk to Bruce Bishop, author of the US Best Seller "The Rich Revolution"

How many entrepreneurs and business experts do you know who have dyslexia? Richard Branson, Alan Sugar, Steve Jobs… well it’s time to add another name to the list! Bruce Bishop, the author of ‘The Rich Revolution’. His mission is to empower people through independent financial freedom. As property investors we are also interested in wealth creation and personal development. So were always on the look out for new books in that field.  Therefore we were very pleased to have the pleasure of talking to Bruce to find out what inspired him to write "The Rich Revolution". This is what we found out...  He began his working life as a laborer in the building industry having left school with a handful of very mediocre qualifications, due to his struggle with dyslexia. In his early 20’s when most people his age were listening to their favourite music on the radio, Bruce was...
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Buying your main home without the resource of the "Bank of Mum & Dad"

How much will I need to save? Typically, you’ll need to save at least 5% of the cost of the home you want to buy to get a mortgage. So if you want to buy a home costing £125,000, you’ll need to save £6,250. The larger the deposit you can save, the cheaper the mortgage you can get.
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Could Universal Credit Lead To Higher Rent Arrears?

  Could Universal Credit Lead To Higher Rent Arrears?   Landlords need to protect their interests as Universal Credit comes into force.   Patrick Butler pointed out in a recent Guardian article, Under the new system, tenants in receipt of housing benefit will have their money paid directly to them, rather than, as now, (with vulnerable tenants) direct to the landlord... Southwark council, which is one of six areas piloting the change, says that arrears have soared since it started testing direct payments.   Every savvy landlord knows that people who have difficulty managing money wont change just because Government wants them too.   Rising rates of rent arrears makes it even more important that landlords follow the rules under the Assured Shorthold Tenancy Scheme. If they take a deposit from tenants, it is a legal requirement to secure it in a special account until the end of the tenancy and, to be able...
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MONEY TALKS - BUT TRUST SHOUTS LOUDER, SURVEY FINDS

Trust is a more important factor than price for householders hiring a tradesperson, a new Energy Saving Trust survey has revealed.
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5 things to think about before instructing an Online Estate Agent’

In the last five years or so it has become generally accepted by savvy consumers that instructing an internet estate agent will save you money when compared to a traditional agency; but let’s not forget it’s not always all about the money! If you have already made the decision to opt for an online agent take the time to consider these five essential points to ensure you instruct the right agent for your needs before taking the plunge:
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Getting On The Property Ladder

  As costs rise and incomes stagnate, first-time buyers may feel they are relegated to paying rents to live.   Those who do manage to find enough deposit money however, must identify the best financial package for their circumstances including where to source their property!   If you answer these 5-simple questions positively, you will be reassured you could progress successfully to becoming a property owner.   1. Is My Bank Account Clean? ~ If your bank statements balance more often than not, it shows you are actively managing your money; something lenders like to see. Lenders normally want at least 3-current monthly statements showing your income and expenditure. Though an overdraft may reduce the maximum loan you could obtain, in itself it is not a problem provided it is not out of control. Unpaid cheques, direct debits or excessive bank charges are red-flags.   2. Can I Get A Mortgage? ~ Paying a lender administration and survey fee only to be turned down is really frustrating and...
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House market at a stand still and London fails to beat the trend

The Land Registry HPI - "the most accurate independent house price index" reports the Housing Market in England and Wales is a literal stand still with a 0.0% change in August 2012, against the HPI of July.
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Alternatives to Selling on the Open Market

The open market is the most traditional way to sell a house, but it takes time and patience - things not everybody can afford. Buyers can take a long time to come along and even when you do find one, a broken chain can put you back to square one instantly. All kinds of factors can make it difficult to sell a house: the area you live in, the state of the property and simply the condition of the housing market at large. There are many reasons that you may need to sell your house fast, in which case the open market might not move quickly enough for your circumstances. You may have had a job offer in a different part of the country that you just cant turn down. You may be going through a divorce or break-up and need to downsize your property to a more affordable one...
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100% Mortgages are back and here to stay?

There were several headlines last week announcing Aldermore bank’s new 100% mortgage launched last week aimed at first time buyers. Aldermore are one of the newer banks – only opening in 2009, and we have found them pretty refreshing to deal with.  They are however taking no big chances on this product, with a 3 year fixed rate of 6.48%. The Family Guarantee Mortgage however allows homebuyers to buy a property without a cash deposit, as long as a parent or relative guarantees any borrowing above 75 per cent loan-to-value, with a charge on their own property. Borrowers must be at least 25 years old, and seeking a mortgage of no more than £250,000. From no 100% mortgages, or even 95% mortgages, available for the first 2 years after the credit crunch started, lenders are beginning to understand the market and get more confident again in offering new products. There are...
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Interview with the Empty Homes Agency

  This is very interesting interview by PS Investor Services. With a UK property market considered to be at one of its relative lowest points for decades, the hunger for investors to build their portfolios is ever-apparent.   One potential acquisition strategy – that is often overlooked due to perceived misconceptions – is to look into properties that have been left empty by previous owners.  Please see an interview below with chief executive David Ireland of the Empty Homes Agency with whom we discussed current levels of empty properties in the UK; the effects of the recession on the situation; the housing deficit; the government’s response; what steps can be taken to investigate an empty home; seeking legal advice; available grants for renovating empty properties; getting advice from local authorities; the organisations’ campaign for council tax relief. 1) Can you explain what the essential role of the Empty Homes Agency is? Empty...
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Do you have the right Planning Permission?

Many people think that Planning Permission and Building Regulations are the same thing. They are actually two separate types of permission.
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Win a place on Simon Zutshis Property Investing Course

Enter our 2011 competition to win 1 place on Simon Zutshis Property Investing Quick Start Course We have 8 amazing prizes to win in the competition and this is our fantastic- 2nd Prize. 1 Place on Simon Zutshis Property Investing Quick Start seminar, specifically designed to give you all of the tools, knowledge and contracts to start finding great investment deals as soon as possible. Click here for more details. "Simon Zutshi is a financially independent, professional property investor, with 14 years experience of investing in residential property in the UK and overseas. In 2003 Simon founded the property investors network to provide a supportive environment for investors to learn more about investing with the aim of maximising their return and minimising the risks. " To be drawn in December 2011 Value: £596. All subscribers of Just Do Property are already entered into the 2011 Competition.  But you can gain more entries by...
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Why should I invest in student accommodation?

With more students going to university and college each year and an estimated 2.4 million students in the UK, and a huge shortage of accommodation, there is a huge opportunity to make large, passive income from investing in high quality student accommodation located in cities with prestigious universities.
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Paul Preston and Simon Zutshi inspire at the Manchester pin meeting

An absolutely fantastic meeting last week at pin Manchester with a packed full house of Investors. If you attended you would have had the privilege of listening to two fantastic speakers, Paul Preston and Simon Zutshi.
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10 Common Reasons Why Inventories Fail at Adjudication

With over 23,500 deposits disputes last year – a figure that is set to increase as tenants become more aware of their rights – it has never been more important to have a proper professional (and independent) inventory.   An inventory is a record not only a property and its contents but also (crucially) their condition at a specific point in time (i.e. at the date the tenancy starts). Many inventories fail to convince the adjudicators because they fall far short of the evidential standards required.  The fact that over 90% of cases are found against landlords indicates that if you do not supply the tenant with a proper professional inventory you may as well not bother at all. These are the most common reasons inventories fail – with tips on how you can ensure your inventories are up to scratch. Problem 1: The landlord used an old inventory that didn’t...
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