Currently viewing the tag: "Europe"

UK PRS Rents Highest In EuropePRS Rents Still Increasing

Rent paid by tenants in the UK’s private rental sector, (PRS), increased by 2.1% in the 12 months up to and including March 2015, according to the latest published figures released by the Office for National Statistics (ONS), drawing claims from the National Housing Federation (NHF), that the UK is the most expensive country to rent property in within the European union.

In the 12 months to March 2015 UK PRS rents increased by:

  • 2.1% in England
  • 2.1% in Scotland
  • 0.8% in Wales

UK PRS rents are the highest in Europe, taking up 40% of tenant income despite having the shortest length of secure tenancies. In comparison our European counterparts only pay an average of 28% of their income on rent.

The NHF analysed the ONS data and found that on average UK PRS rents of approximately £750 per month for properties were almost double the rental costs of dwellings in countries like Germany and Holland, where average earnings are similar. However, it is worse for tenants in shared UK properties, who typically spent around 55% of their income on rent.

Across Europe, 43% of tenants had moved property in the last five years while in the UK this figure was more like 77%.

When the figures are analysed more closely it works out that approximately 23 minutes of every hour worked by UK PRS tenants is spent on rent; elsewhere in Europe, it is more like only 17 minutes.

The NHF also showed that the UK has repeatedly failed to invest in its own housing stock when compared to European standards, between 1996 and 2011 only 3% of the national Gross Domestic Product (GDP) was invested in UK housing, compared to 6% in Germany and 5% in France.

Other findings from the analysis include the fact that 72% of tenants renting in the UK private rental sector are employed compared to 62% of residential owner-occupiers.

NHF chief executive David Orr commented on the findings, stating: “UK tenants get a raw deal in comparison to their continental counterparts. High rents are just one symptom of the UK’s housing crisis, as a nation, we are simply not building enough houses due to under investment and problems with the land market.”

Green Party Leader Blames Landlords For UK Housing Crisis

Green Party Leader Blames Landlords For UK Housing Crisis

Green Party Leader Under Attack For Demonising
Private Rented Sector Landlords

The leader of the Green Party, Natalie Bennett has attracted a great deal of criticism after she attacked buy-to-let landlords operating in the private rented sector (PRS) blaming them for helping to cause the UK’s housing crisis.

Ms Bennett cited extremely high rental returns for landlords with property in the UK private rental sector in the recent television debate between the opposition leaders.

She referred to a report published by the Wriglesworth Consultancy and lenders Landbay stating that there had been a 1,400% return for buy-to-let landlords since 1996.

But the report’s authors suggested that the calculations and methodology involved were far more complex than the Green Party leader had portrayed.

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Exclusive Content for PIN Academy Members

Exclusive Content for PIN Academy Members

PIN Academy Exclusive Offers

Becoming a member of the PIN Academy private members forum has its advantages, often there is exclusive content, features and special offers only available to members and today is no exception.

Tonight, (Monday 20th October 2014), at 9pm (GMT) there is a no cost webinar with Trushant Bodani, PIN Academy’s very own Deal Doctor, who can offer property investors in depth help and advice so that they can better understand how to make more money from the property investment deals that are currently available.

This webinar is exclusive to PIN Academy members and all you need to do to register is join the PIN Academy and webinar joining instruction will be emailed to you as soon as your payment is processed.

So why should you join the PIN Academy and be able to take part in the live webinar tonight?

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The Perfect Christmas Gift For Property Investors

The Perfect Christmas Gift For Property Investors

Members Only Forum For
Serious Property Investors

I have been a member of the PIN Academy for the last 2 years now and I wanted to tell you that in that time I have engaged with a number of thought provoking, informative and motivating discussions, read some fantastic exclusive members only content and helped property investors join forces to do some spectacular property investment deals.

  • PIN Academy Membership Is A Goldmine!
Top UK Property Guru Shares How To Make An Extra £5,000+ (GBP) Per Month, Part-Time From Property!

Top UK Property Guru Shares How To Make An Extra £5,000+ (GBP) Per Month, Part-Time From Property!

Simon Zutshi’s (left) PIN Academy has an active community of thousands of property investors and property experts gathered in one place and the topics covered really are a rich and diverse mixture, from questions seeking property investment advice to the sharing of important strategy discoveries, plus many superb property deals and opportunities.

  • Property Investors Save Time And Make Money!

If you are a property investor who wants access to some of the best training providers, content rich webinars, cutting edge property investment education as well as social engagement with thousands of active property investors then I suggest that you join me on PIN Academy

PIN Academy members enjoy real and tangible benefits as part of the most comprehensive, feature rich, high value property education forum and social platform available to property investors in the UK today, including:

  • Online Community

Connect with other property investors and joint venture partners throughout the UK and Europe. Enhance your offline networking with social interaction online. There are thousands of active property investors who are already members and the community is still growing!

  • Exclusive Audio Content

PIN Academy members receive an exclusive CD every month, packed with interviews and property investor educational material only available to PIN Academy members.

  • Exclusive LIVE Presentations

With over 40 PIN property networking events happening every month across the UK, the PIN Academy is the best way to watch some of the UK’s best property investment speakers in action.

  • FREE Access To Online Training

Thousands of pounds of property investment training completely free to PIN Academy members, including video’s of some of the top PIN training materials, courses and workshops.

  • Property Deals Exchange

Got a great property investment deal that you want to offer to serious property investors?
Post it in the PIN Academy DEALS section, No time wasters just serious property investors. Thousands of property deals in one place, all you need to do is scan through the latest property deals posted by PIN Academy members!

·         Free Access To The Pin Webinar Library

PIN webinars cover property investment from all angles, including property investment strategies and techniques, up to the minute property investment training and legislation guidance.
Never miss a PIN webinar again with unlimited FREE access to the entire PIN Webinar Library.

  • Plus...

Every replay of the Trushant Bodani’s Deal Doctor – These fantastic fact filled webinars are worth the monthly PIN Academy fee by themselves!

  • Payment Options

Spread the cost of joining the UK’s most active property investor community over 12 months for just £48 (GBP) per Month including VAT or take advantage of an impressive 25% discount by paying for your first year for just £432 (GBP) including VAT.

There are always important topics trending on PIN Academy including:

  • How to get started and focus on your passion
  • Where you can add value to properties
  • Where property investors require assistance.
  • JV Agreements
  • Property Networking Success Stories
  • Bridging Finance

The latest development in PIN Academy is the introduction of live filming at some of the PIN networking events. The PIN team are capturing some of the speakers presentations as well as conducting in depth interviews and filming the lively group discussions.

  • PIN Academy Exists To Help Property Investors Succeed!

Joining the PIN Academy could make the difference between success and failure as a property investor, so what are you waiting for?

Join the PIN Academy NOW!Click Here!

 

Join the PIN Academy Today and get together with like minded property people!

Join the PIN Academy Today and get together with like minded property people!

 

 

 

Moving Abroad? – Things To Know Before You Go

Moving Abroad? – Things To Know Before You Go

British Citizens Warned To Plan For

The Unexpected When Moving Abroad!

The Foreign and Commonwealth Office (FCO) has issued a checklist for British citizens planning to purchase property, retiring or moving abroad.

Buying property overseas can transform the lives of many property investors, but buyers are warned to take independent advice before completing any overseas property purchases and moving abroad.

FCO staff last year helped a number of British expatriates with a variety of issues, with many people facing heavy fines, financial ruin or finding themselves on the wrong side of the law because they were not fully prepared.

These cases involved issues such as property disputes, bankruptcy caused by changes in personal circumstances, pension complications and unexpected health issues.

A recent FCO report also suggests that high hospitalisation and death rates occur in areas where large numbers of elderly British nationals reside, notably in Europe and South East Asia.

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New EU Rules Will Cause Mortgage Rate Confusion

New EU Rules Will Cause Mortgage Rate Confusion

European Ruling Set To Make Mortgage Rates Harder To Understand

New European rules could make mortgage rates even harder for customers to understand as Euro bureaucrats want to introduce a new way of calculating interest rates on residential property mortgage loans and experts are warning that this could be a recipe for confusion.

Under the new proposed EU directive, mortgage lenders would be expected to tell borrowers the maximum interest rate they have charged over the past 20 years, and display this figure on all of their literature.

However, industry experts say customers are already confused by the rates that lenders are forced to display, and that this will make it even harder for them to understand mortgage rates.

David Hollingworth from mortgage broker, London & Country, said:”I think that there is a chance that borrowers become overloaded with information and APR rates that mean little to them, and so risk them being ignored altogether, the extra information could lead to more customers failing to shop around and remaining on expensive standard variable rates (SVRs).

The EU credit directive concerning the mortgage change is expected to be approved later this year. It will compel lenders to display a new annual percentage rate (APR) on all of their literature. This will be calculated using the highest level that the lender’s SVR has reached in the previous 20 years.

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EU Decision Good News for UK Buy-To-Let landlords

EU Decision Good News for UK Buy-To-Let landlords

The decision by MEP’s to remove Buy-To-Let mortgages from the scope of a new EU Directive has been welcomed by a host of property professionals including the Residential Landlords Association (RLA) and Legal 4 Landlords.

Under the original European plans, mortgage lenders would no longer have been able to take account of rental income when considering whether to lend to a landlord for a new property, despite the fact that there are specialist insurance products that can guarantee the rent.

The European Parliament committee looking at the Directive has decided that buy-to-let mortgages would be taken out of its scope altogether, after a great deal of high pressure lobbying from a number of sources including the RLA.

Alan Ward, Chairman of the RLA responded to the EU announcement saying: “Today’s decision by MEPs represents a common sense solution to a measure that would have crippled the private rental market in the UK. With a chronic shortage of properties in the sector, the initial proposals would have exacerbated the problem still further, causing further difficulties and higher rents for those looking for rental accommodation.”

Sim Sekhon, spokesman for specialist landlord services provider, Legal 4 Landlords also commented on the decision “It’s good to see that sense has prevailed within Europe, now landlords can get on with providing quality housing for tenants in the private rental sector without worrying that they were going to lose the right to expand their property portfolios. The EU decision to exempt Buy To Let mortgages from the firing line is good business for UK landlords. Rental income is the lifeblood and there are steps for landlords to take to ensure that cashflow remains constant, such as using comprehensive tenant referencing services to make sure you accept the right tenant and rent guarantee insurance to provide a guaranteed income. Having a secure income is vital for any business and property is no exception”.

According to the latest property report from property advisors Colliers International, the UK is still seen as a safe haven for property investment.

The Colliers report shows that overall property transaction levels remain fairly limited as property investors take stock.

London continues to lead the way for the UK for international property investment, however, regional markets are seeing some movement and prime rental yields are stable.

In the residential property sales market property price declines are expected to be modest in 2012 as banks and other lenders begin to push up mortgage rates.

Director of research and forecasting at Colliers International, Walter Boettcher, said: “The UK economy remains flat with GDP in the first quarter of 2012 falling by 0.2% quarter on quarter. In contrast, the weighted average of purchasing manager indices over the first quarter was 54.5 consistent with economic expansion. Retail sales volume rose 0.8% over the quarter; and unemployment improved slightly, falling from 8.4% to 8.3%. Capital markets showed few effects of the announcement. Positive news from the US and successful bond auctions in the Eurozone suggest that weak performance is accompanied by stability. The downside has already been factored in and other data sources suggest greater underlying strength. The French election has also had a very limited effect. If anything, the result has boosted safe haven property investment both in the UK and Europe”.

UK investors are facing stiff competition from foreign markets as international property investors, who are able to obtain finance, look to the UK for bargain property prices and high rental yields

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Free Tickets To A Place In The Sun Live Property Exhibition
If you’re thinking of buying a property overseas, you can’t afford to miss A Place in the Sun Live, the UK’s biggest overseas property exhibition taking place at Earls Court London on 30th March- 1st April 2012.

As well as the opportunity to meet the TV presenters and talk to over 100 agents selling property from around the world, A Place in the Sun Live is the most comprehensive place to gather information and inspiration for your home in the sun

The Main Stage at A Place in the Sun Live is the heart of the exhibition, with interviews and top tips from television presenters Amanda, Jasmine and Jonnie as well as other experts from the world of overseas property on buying your home abroad.

The Buying Advice Seminar Theatre brings together developers, agents, consuls and lawyers in panel Q&A sessions, so is the place to go armed with your questions about buying abroad. There’s a packed schedule of sessions throughout each day, covering different countries and topics to help you make the most out of your property overseas.

There are also series of country-themed villages and pavilion areas within the show with dedicated seminar theatres, where you can get specific advice on the most popular destinations to buy a property abroad.

The French Village in association with the experts on France, French-Property.com and sponsored by Halo Financial has its own dedicated seminar theatre and is surrounded by agents selling property from all four corners of France. Plus there are experts on tax, healthcare and all the other important topics you need your questions answered on before buying a property in France.
The Portuguese Pavilion in association with the Portuguese Chamber of Commerce will showcase properties from the Algarve, Silver and Green Coasts.

The Pavilion is hosted by bilingual Portuguese property owner Christina Hippisley, who will be joined by other experts from the Portuguese property industry, who can answer all your questions about what its like to buy a property and live in Portugal.

The Florida Pavilion at A Place in the Sun Live is a dedicated area featuring hundreds of properties for sale from both coasts of Florida and features its very own dedicated seminar theatre. There will be a collection of licensed realtors along with experts that can advise you on rentals, currency and legal issues.

The Italian Pavilion in association with the Italian Chamber of Commerce visits our Earls Court show for the first time and is home to a selection of agents and developers from across Italy. There will be a dedicated seminar theatre with sessions from experts on the property market in Italy, where you can learn about everything from the buying process to the intricacies of the Italian tax system. Come prepared with your questions to make the most of your day.

Click here to get your free tickets worth £12 each:
You may have as many free tickets as you like, but you must complete and print a ticket for each person.

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