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Posts Tagged ‘Sell And Rent Back’
Wednesday, June 30th, 2010
Great news, those thinking “I’d like to sell my house fast” will be pleased to know house prices rose again in June according to Nationwide building society figures, the rise comes after a 0.5% increase in May and puts the average UK property at just over £170,000. These figures contradict the Government research which puts the average house price at £207,000 but as we know, these surveys always offer different results.
The Government figures put inflation at 10.1% however Nationwide’s findings suggest a percentile closer to 8.3%, the building society also shows prices have risen by 3% since the start of the year. As for reasons behind the findings, Nationwide say the increase in prices is down to the rise in the number of properties on the market after the suspension of Home Information Packs (HIPs).
Tags: conveyancing, quick house sale, repossession, Sell And Rent Back
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Friday, June 25th, 2010
At a time when houses are very affordable and mortgage deposits are so high, first time buyers (FTBs) are facing a veritable lock-out unless they can find 15% – 30% of the property value. So, how do you buy a house at a time like this? Well, maybe this can help…
Tags: conveyancing, fast house sale, quick house sale, Sell And Rent Back
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Wednesday, June 23rd, 2010
The Council of Mortgage Lenders (CML) has said UK mortgage lending remains subdued after the budget announcement last week. Despite the lack of noticable growth, the number of new home loans rose by 7% in month on month in May to £11.3bn.
The reasons for the stuttering mortgage market can be blamed on higher taxes and public spending cuts said the CML, commenting on the situation CML economist Paul Samter said: “The market will inevitably be affected by how policy impacts on the wider economy – particularly on household finances and confidence.” Whether the market will pick up will depend on whether lenders relax their restrictions on deposits from first time buyers, unlikely for some time.
Tags: conveyancing, fast house sale, quick house sale, Sell And Rent Back, Sell My House Fast
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Monday, June 21st, 2010
According to a survey conducted by the Royal Institution of Chartered Surveyors (Rics), the suspension of Home Information Packs (HIPs) has resulted in more property being placed on the market in England and Wales. Despite the rise in homes on the market, a fast house sale is unlikely as the number of completed sales over the the 1st quarter months fell by 5%.
The suspension of HIPs and the abolition which is to follow was announced by the new coalition government in May and described as “needless red-tape” by housing minister Grant Shapps. Although the need for a HIP has been removed, sellers are still required to provide an energy performance certificate will remain. As for a HIP replacement (sorry, couldn’t resist), there are no signs this Government will be entertaining that idea throughout this Parliament.
Tags: conveyancing, fast house sale, quick house sale, Sell And Rent Back
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Friday, June 18th, 2010
House Price surveys – they’re like 4 suspected criminals that haven’t got their story straight, all giving different versions of the truth. Ok, that’s probably one of the worst similes you’re likely to see but it kind of gets the point across that the state of the housing market depends on who’s survey your looking at. So why are they always different? Well, maybe this can help explain…
Tags: conveyancing, fast house sale, quick house sale, Sell And Rent Back
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Wednesday, June 16th, 2010
So, you put your house on the market and waited for the calls to come flooding in, actually you were aware they probably wouldn’t come flooding in because a quick house sale in this market is hard to come by. But what’s the next step, where to from here? Well if you could do with some extra cash to cover the bills or mortgage, why not join the thousands of households across the UK that are letting out their spare rooms to lodgers.
There are an increasing number of websites what offer rooms with ‘hospitable hosts’ in houses up and down the country and across the globe. Often it’s parents who have seen their kids move away and have rooms going spare but sometimes it’s professionals who work away from home letting their flat out to guests. There are even flexible tax rules in the UK that make the idea even more attractive, those planning to rent out a furnished room in their main residence may be able to claim ‘rent-a-room’ relief. This relief allows a property owner to pay no tax if the gross rental income for the tax year does not exceed £4,250. So if you’re trying to sell, maybe you should rent!
Tags: fast house sale, quick house sale, repossession, Sell And Rent Back
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Thursday, June 3rd, 2010
On Tuesday we discussed the plight of first time buyers (FTBs) who are able to afford repayments for the first time in years but can’t afford the mammoth deposits. To give this some context, industry figures show that the average price of a property bought by a first-time buyer in 2009 was just £133,794, yet the average deposit paid was a massive £29,439.
For those wannabe FTBs who can’t get £30k together, there are other options such as the scheme HomeBuy Direct which is open to households in England earning less than £60,000 a year. The scheme is a part Government, part developer effort to provide new affordable housing for those not on ‘the ladder’ but even this route is threatened with just 60,000 new build completions last year compared with 175,000 in 2007.
Tags: conveyancing, fast house sale, repossession, Sell And Rent Back
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Tuesday, June 1st, 2010
Despite a slight rise in property prices throughout May, houses and flats are now more affordable for first-time buyers (FTBs) than they have been for years, but as is often the way – there’s a catch. Many would-be buyers looking for their first home can afford the repayments but can’t get together enough money for the hefty deposit.
With only a few 95% mortgages on the market and only the best credit scores getting them, the choice for the mere mortals is frequently either a 20% or sometimes 35% deposit mortgage. Needless to say, with FTB’s locked out like this, quick house sale figures are down dramatically with the National Association of Estate Agents (NAEA) reporting that just 19% of house buyers were first-time buyers in November 2009. Compare that to 45% in May 2009 and you get the picture. More on this on Thursday.
Tags: conveyancing, fast house sale, quick house sale, Sell And Rent Back
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Friday, May 28th, 2010
If you’re sitting on a property and hoping for a quick house sale then you may be feeling a little dispondent, not least because the Prime Minister announced last week that we’re in a greater financial predicament than he first thought. But there is some encouraging news, the market is picking up and Camerons lot are to announce a change in housing policy that could see a boost in sale figures for house on the market.
Their plans are to make it harder to build on urban garden space, discussed a few days ago, and also to remove the minimum house build of 30 properties per acre imposed on developers. This means there could be less new builds and more of the current stock being sold, including yours!
Tags: conveyancing, fast house sale, quick house sale, Sell And Rent Back, Sell My House
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Monday, May 24th, 2010
The UK Housing market does not look very promising at the moment with government reports indicating a significant slowdown in the housing market in the US. House prices have fallen considerably which can be good news for you if you are a prospective investor in real estate.
You can take advantage of the quick sale opportunities that are available such as sell and rent back schemes and look forward to a better future. However, you have to keep one thing in mind. You should be discerning enough to invest in a property that has good future prospects. Just because houses are available at alarmingly cheap rates, it should not prompt you to jump on to the bandwagon without giving it a proper thought.
Tags: conveyancing, fast house sale, quick house sale, repossession, Sell And Rent Back
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