Home ownership is out of reach for 42% of tenants, who say they cannot afford to save for a deposit at all, and other want-to-be homeowners are unable to save enough. The average amount saved by the 35% of tenants who do save for a deposit is £12,125 – about 7.3% of today’s average house […]
Our friends over at Goodman Jones Solicitors have written a succinct article on new rules are about to come into effect that effectively remove the tax advantages that non-UK based property developers enjoyed when developing UK property. Yet another nail in the coffin of Buy to Let as most of the properties on theses sites are sold […]
Buy-to-let investors have been battered by bad news over the past year which will have prompted many to consider what to do next. The stamp duty hike that arrived with a bang at the start of April caught plenty of eyes, but it is the forthcoming cut to mortgage interest tax relief that will hurt […]
Joint Equity offers a new way to buy a home and new opportunities for investors. There are over 1 million people trapped in the rental market with all the wasted money and insecurity that entails when they would rather live in their own home. There are also many investors falling out of love with Buy […]
Below Market Value (BMV) properties are residential properties that are (somehow) available below their market value. This is normally because the owners are faced with some kind of financial difficulty and want to or need to dispose of their property quickly and without going through a protracted marketing and sales process. The precursor to this […]
In continuing moves across finance providers, Barclays has announced that it is increasing its rental coverage ratio from 135% to 145%. Rental coverage ratio is how much more the rent is than the cost of the mortgage. So for a £200,000 loan at 5% the cost is £10,000 per year. Under the old norm of […]
Now we need to take this survey with a big pinch of salt as this falls into the category “well they would say that wouldn’t they” but while the hard numbers may not be accurate the overall picture is is the same as we would expect. Unfortunately. According to the Local Government Association even discounted […]
The Government is to directly commission the building of 10,000 new homes on public land as part of a “radical” new plan to build at a faster rate using smaller companies. Prime Minister David Cameron described the move as a “huge shift”, claiming it marks the biggest use of such a policy since Margaret Thatcher […]
The average price paid for a property through an affordable housing scheme is now £189,786 according to Halifax – just 4% (£7,750) lower than the £197,535 average for house purchases. That is not a big saving is it? However, the discount is different for London:- regionally, the highest average price paid by purchasers using affordable […]
A ‘chronic shortage’ of homes for sale in Britain’s cities has helped to push house prices up in urban areas by more than 10 per cent this year. It means buyers need to earn significantly more than a typical wage before they can own a city home. New figures suggests that out of 20 major […]