Guaranteed rent scheme

With more and more people struggling to find a buyer for their property. Most people are resorting to renting their property out rather than have it stood empty and paying bills such as council tax, insurance, water, gas and electricity.

Whilst this may suit some people others do not want the hassle of dealing with awkward tenants. These accidental landlords would much prefer to have a guaranteed rent for peace of mind and security knowing their property is being looked after professionally.

If you have a mortgage we ensure that is paid every month whilst also managing the tenants and keeping on top of any maintenance issues.

If you know an accidental landlord, or are one yourself, and would like to speak with us about our guaranteed rent scheme then get in touch.

Britains cheapest house

At a time when all the talk about another housing boom is on the horizon. Britain’s cheapest house goes up for sale.

For just £7,000 you could grab yourself a 2 bedroom Victorian terrace in Gainsborough, Lincolnshire… Granted it has been subject to an arson attack and is full of rubbish…

Britains cheapest house

10% of homeowners in the East Midlands are in negative equity

With claims that house prices have been on the rise for over a year it may seem strange to see that in fact in the East Midlands the percentage of borrowers in negative equity is between 6-10%. This compares to just 1% of borrowers in London.

Overall 463,000 homeowners across the UK still have loans worth more than their houses are worth. This could be bad news for those homeowners when the interest rates are expected to rise in April 2015.

If you’re a homeowner in a similar situation and would like to find out your options contact us today.

London property distorting price rises

Although there has been a lot of talk about an increase in house prices across the UK during the 2013, when you look closely at the figures, it’s not all quite as rosy for everyone.

According to Land Registry if you are in the North East you will have seen a fall of 1.6%. Most of the driving force behind the price rises have been in the South East and London in particular.

These parts are already the highest within the UK with prices in London rising another 10.6% during the year. This has hugely impacted on the average figures for the rest of the UK. So while economists are pleased with the growth of the UK housing market, the reality hasn’t quite been noticed by the average homeowner in the midlands and above.

Empty homes over Christmas

Christmas is just around the corner and this means temperatures are dropping. If you own a property that is sat empty you need to ensure you are protected from pipes freezing. The best way to do this is to have the heating system drained down ensuring there is no water left in the system. If you have a modern boiler they generally have a frost setting keeping the system ticking over. If you fail to protect your system it could prove an expensive mistake.

During the festive period buglary levels rise as theives target homes expecting expensive presents to be sat waiting. If your property is empty this can be more appealing with the cost of scrap metal rising. Try to keep the property looking lived in to peturb any wannabe theives.

You should check on the property as often as you can just to ensure its safety and make sure the neighbours have your contact details.

Should you want to get your property sold quick than your estate agents are managing please give us a call and talk to the team for a free quote. With a cash offer and completion in days you can get rid off the worry that comes with having a home stood empty.

The hidden costs of selling your house through an estate agent

So you are looking at downsizing, maybe relocating to another city, moving in with your partner or moving away from a partner. Whatever the reason the house needs to be sold. So you open the newspaper and phone three local estate agents. You have to leave a message for one as it was lunchtime but arrange for one agent to pop round for a valuation. They turn up in a flash car and a sharp suit promising the world all for ‘no sale no fee’. You agree to give it a go and put the house on the market for £99,950.

Fast forward 18 months and you have finally exchanged and completion is around the corner. You missed out on the dream house 12 months ago and another 5 months ago. You could have done with the cash sooner but none the less you have exchanged and completion will happen… but for £76,500. Lack of activity at the start meant your agent suggested slashing the price by £10,000. After you had a chain collapse you then dropped it again to £79,950 with an open day shortly after. You finally get an interested party and after some haggling you finally agree on £76,500.

You’ve already had to pay £100 for an Energy Performance Certificate at the start of the process. £500 for extra advertising in the paper and on Rightmove. Your solicitors bill is fast approaching £1,500. The in house mortgage broker has charged £400 for your new property. You’ve been paying £410 per month mortgage for the past 18 months (£7,380). The completion statement has come through from the solicitors and after you’ve paid your 2% estate agents commission (£1,530) its barely enough to cover your mortgage.

How do you even put a cost to the stress of the past 18 months.

It’s no wonder more people are turning to professional property buyers in order to skip the hassle and get their property sold immediately. With all their fees paid and a completion in 4-6 weeks it is a very quick and straight forward alternative to selling on the open market.

How to sell your house fast for cash

Unless you are living within the M25 you will have noticed that it is a very difficult market to sell your property. Deposit requirements at an all time high, this, compounded with a lack of disposable income mean by the time the average first time buyer has saved enough for a deposit they are almost 40 years old.

So with the housing market stuttering, what are your options if you still want to sell your house fast for cash?

If you have ever had your property on the market with an estate agent and you have tried speaking to them about getting it sold quicker, their only answer is to “drop the asking price” by another £20-30,000. Unfortuantely that doesn’t even guarantee a viewing nevermind an offer or even a sale.

To get a guaranteed offer and a quick sale you need to be dealing direct with the buyers themselves. This way you get a swift offer without any agents muddying the water. You can also get your legal fees paid meaning the amount you are offered will be what you shall receive.

If you would like to sell your house fast for cash fill in the quick quote opposite and one of the team shall get in touch.

Dispatches investigation into estate agents

In case you didn’t get chance to see Channel 4’s ‘Dispatches – The Property Market Undercover’ program you can watch it here until the 28th November.

The program starts by showing that anyone can set up to be an estate agent within 48 hours with no qualifications. This shows the lack of regulation in the sector.

The Help to Buy scheme has been brought forward by the government in a bid to kick start the housing market and the wider economy. This should mean a greater number of mortgage applications being submitted. Most estate agents have ‘in house’ mortgage advisers who can search the market for you. In a lot of cases they are not always able to search the whole market which means you might be missing out on the most suitable mortgage for you. Sales advisers and negotiators are given incentives in order to get potential buyers to use their ‘in house’ mortgage lender. They do this by “prioritising offers” for those who use the in house services trying to force you to use their service, even if you already have your finance arranged. For the sellers they may also be losing out on prospective buyers because of it.

Some estate agents are also pressurising buyers saying that they will reject any other offers for a property if they are to use their in house services. Even if another buyer is in a better position for their client, the seller.

The lack of regulation means these dirty sales tactics will happen all at the detriment to both buyers and sellers of properties. There are many frustrated sellers on the market who have had little or no feedback from their estate agent. Maybe if their customer service was improved, estate agents would not have to use underhand techniques in order to sell properties.

Nationwide unsure about Help to Buy

The Nationwide building society has cut some mortgage interest rates for borrowers who are unable to raise a large deposit but they are still undecided whether they are going to join the government backed Help to Buy scheme which is set to launch in the new year.

The Help to Buy scheme is encouraging more transactions by lending up to 15% on a government backed loan to go towards the deposit for the property.

The building society’s new rate for a two-year fixed rate deal for a buyer offering a 10% deposit is 3.99%, with a £900 fee, or a £400 fee for first-time buyers. A number of lenders offer mortgages at this loan-to-value level.

Selling an inherited property

If a relative or friend has passed away you will know it is a very stressful and emotional time. There can be lots of administration on the estate and applying for probate takes a long time. A property is generally the largest asset in a persons estate which is why more people are turning to private sales in order to settle the estate according to the will, quickly with the minimum of fuss.

A quick sale coupled with no fees means it is very straight forward for the executors and beneficiaries to know where they stand in relation to the estate meaning everyone can get closure.

For more information on probate visit the Gov.uk website.