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The fundamentals of property investing are the nuts and bolts of your business. Ensuring that you have a great team around you will help towards your success. 

Understanding the legal aspects of buying a property and having a great conveyancing solicitor in place is really important. Also having access to the right finance is the key to securing those great deals once you find them.

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Top Ten Buy To Let Rates

Zoe Cairns our resident Mortage Advisor has provided us with a up to date list of mortages available on the market: Interest Rate Max LTV Product Detail Completion Fee ERC’s 2.99% Tracker 60% Variable tracker rate of BBR + 2.49% until 31/05/2011 then reverting to the lenders standard variable rate which is currently 4.99% for the remainder of the term. This product is available up to 60% LTV and there is a rental calculation of 125% at a notional rate of 4.99%. An application fee will apply. 3.5% (min £595) 3% of amount being repaid until 31/05/2011 3.39% Fixed 70% Light refurbishment scheme for minor improvements to be carried out within 3 months of completion. Fixed rate of 3.39% until 31/05/2011 then reverting to the lenders standard variable rate which is currently 4.99% for the remainder of the term. This product is available up to 70% LTV and there is a...
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Bank of England Interest Rates remain at all time low – 0.5%

The Bank of England (BoE)today announced they would keep the interest rates at the all time low of 0.5%. Interest rates have now been at this level for 13 consective months. This decision has been widely predicted and is of no surprise to most analysts. Indeed it is expected that a rate rise would not occur any time soon while the economy continues its recovery. They also agreed to maintain the size of the Asset Purchase Programme at £200 bn, aka Quantitative Easing (QE), therefore not pumping anymore money into the UK economy. For more information read the Bank of England announcement: http://www.bankofengland.co.uk/publications/news/2010/037.htm
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Tenants who wont pay and Solicitors who want fees to evict them

At Landlord Action, we are always very supportive of organisations that provide good quality information that is helpful to landlords. This is why I have decided to team up with JustDoProperty as a mentor for landlords who have issues with problem tenants. This month, I would like to introduce to you what it is I do. It didnt take long for a group of landlords to agree, there are too many tenants who wont pay. Too many solicitors who want fees to evict them, and the process seems to take forever. Many solicitors lack knowledge about the process and were unable to provide a set fee for reclaiming lost rents or evicting tenants. The prices quoted usually include hourly rates, and almost all the solicitors wanted funds on account ranging from £400 to £1000 without any indication of how long the process would take and if there would be any additional...
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What kind of properties are sold at auction?

  They are sometimes unusual or quirky properties that will not normally sell through estate agents and that are difficult to value or compare and really need to attract property investors, cash buyers or people looking for special deals. However, there are also perfectly standard properties that are being sold via this route – and you’ll also find a large proportion of mid range and first time buyer development projects in the pages of the auction catalogues. More recently, I’ve seen new build properties coming into the auction rooms as well, as developers are ‘off loading’ some of their unsold stock - and as an unfortunate result of the credit crunch, banks and lending institutions also put properties that they have had to repossess from the owners into auctions to realise some value against them quickly. This mix of stock can be regular semi detached, detached and terraced houses, flats and...
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Should I use a Sourcing Company? - John Paul, Casteldene

This really depends on the strategy of the individual. Sourcing companies can free up your time immensely so that you can get on with the day job, they are for some investors a necessity, especially for those who are just starting out and rely on these companies for advice and guidance. Sourcing companies are also needed for investors who live out of the area and have no intention of carrying out high levels of due diligence. If you want high yielding, low priced properties then the North tends to be the place to look and for some southern investors they would rather rely on the experience and knowledge of experts in that area. There has been a lot of bad press recently about sourcing companies and the services (or lack of them) that they offer, however as with all unregulated business’s you will find that there will be a small...
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