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UK Property Growth Cycle Has Already Started

Cash In On The UK Property Boom!

Cash In On The UK Property Boom!

Unless you are a professional property investor, you may not know that the next property growth cycle has already started and the media would have us believe that the UK will see another property boom!

The recent Budget put the property market back in the spotlight, while better mortgage deals have already been delivered by the Funding for Lending scheme (FLS). 

So now, thanks to the easing of the tough mortgage restrictions, UK residential property may be set for a historic run.

For the first time since the previous 2007 peak of the property market, millions of first-time buyers and owner occupiers will have the chance to purchase property without the ultra tough lending requirements and large deposits that have discouraged property purchasers for the last 5 years.

Cash In On The UK Property Boom!

Cash In On The UK Property Boom!

And according to the latest media reports, they’re likely to do that in droves.

So what does that mean for you as a property investor?

Please click here for the details.

  • UK property prices pushed up due to market activity?
  • Government intervention inflating a national property price bubble?
  • Difficulty in buying a reasonable priced residential property?
  • Discounts disappearing? (This is a big one…)
  • The beginning of the end?

So the BIG question is…

Is now the time to purchase as many cheap discounted properties as you can, before it’s too late?

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UK Property Prices Up £7,000 In Four WeeksUK Property Prices Hit 2008 Peak Values

UK property prices have jumped up £7,000 (GBP) in a month as UK property market activity picks up.

The huge increase in property values over the last four weeks is confirmation that the UK is enjoying another property boom.

The £1,750 weekly uplift puts the price of a typical residential three-bedroom semi detached property at £252,418 (GBP), according to popular property portal, Rightmove.

The biggest increase in property prices was recorded in London where new vendors have added an extra £50,484 (GBP) to average residential property asking prices this month, however property prices in the nation’s capital are over inflated compared to the rest of the UK.

The rise in UK property prices is being driven by first-time buyers and second step buyers following the introduction of the Government’s Help-To-Buy mortgage scheme.

Fears of a housing bubble have also been eased as the number of new property vendors entering the property market has also increased by 8%, however property shortages have driven up property prices in some UK regions.

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Buy-To-Let Remortgaging Eclipses Property Purchase Borrowing

Buy-To-Let Remortgaging Eclipses Property Purchase Borrowing

Buy-To-Let Remortgage Surge

Buy-to-let remortgages have witnessed a huge surge in demand during the second quarter of 2013, as existing landlords refinance to raise capital for further rental property purchases.

Remortgaging activity has eclipsed all other types of mortgage transactions covering multiple property types, other than granting new mortgages for buy-to-let property purchases.

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Rightmove Doubles UK Property Values Forecast As Property Prices Increase Again

Rightmove Doubles UK Property Values Forecast As Property Prices Increase Again

UK property values increase for seventh month in a row

UK property values have reached a new five year high, according to property portal, Rightmove, who revised their forecast of UK residential property values, and now reckon that residential property prices will increase to double their previous property value forecast for 2013.

As Spotlight reported last week, residential property values have already increased by 0.3% to average £253,658 (GBP), and now Rightmove reckon property values will now climb by up to 4% this year instead of the 2% previously predicted. However, it wasn’t good news for the whole country as residential property prices in London remained unchanged, holding at a record average of £515,379 (GBP).

The economic incentives introduced by the Government and the Bank of England (BoE) to increase overall lending and credit supply has boosted the demand for residential property ownership from first time buyers.

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UK Property Prices Rise Most in Six Years

UK Property Prices Rise Most in Six Years

Residential Property Prices Continue To Increase

UK residential property prices have increased by 0.4% in May 2013, the biggest monthly increase since May 2007, as, according to Hometrack Ltd, a shortage of available residential properties boosted average property values in London.

Average residential property prices in England and Wales have seen a gradual increase in value during the last six months with property prices increasing gradually, while London property prices have jumped 0.9% over the same timeframe.

Demand for residential property in the capital has surged 15% in the past six months alone, while supply of available properties has fallen 0.6%.

Richard Donnell, Director of Research at Hometrack said, “The impetus for rising house prices is originating almost exclusively from London and the South East. Elsewhere housing market conditions are improving gradually, with prices trending slowly upwards.”

The Government initiative to ease the strict lending conditions set by lenders has improved the overall health of the UK property market but the Funding for Lending scheme needs to be backed by more solid initiatives.

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Residential Property Sales Hit Three-Year High

Residential Property Sales Hit Three-Year High

Residential property transactions in the UK reached their highest level in three years, as would be buyers begin to take advantage of the continuing record low interest rates and the increased availability of residential mortgage loans, according to a survey of estate agents.

The monthly market survey from the Royal Institute of Chartered Surveyors (RICS) found that the increased availability of cheaper residential property mortgages and home loans has been boosted by the Bank of England’s (BoE) Funding for Lending Scheme (FLS) and this in turn has led to a pickup in residential property transactions.

Surveyors reported that many agents have sold an average of 17.4 residential properties to new first time buyers in February – up from the previous average of just 16.8 in February 2013, but property transactions remain significantly below the unprecedented levels reached in the early-mid 2000s, at the height of the last UK property boom.

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 Mortgage Approvals Fall As Demand From

Residential PropertyBuyers Fades

UK Mortgage Approvals Fall

UK Mortgage Approvals Fall

UK mortgage approvals in February 2013 have fallen to the lowest level seen for seven months according to E.surv chartered surveyors.

E.surv, reckon that only the government Funding for Lending (FLS) scheme is preventing a much steeper fall in residential property mortgage lending for purchasing, even though uptake from potential property buyers has been lower than expected.

Overall UK mortgage approvals fell by 11% in February to just 49,019,  down from 54,719 approvals recorded in January 2013, making it the lowest mortgage approval level since July 2012, according to E.surv data.

The fall in mortgage approvals comes despite a wider and cheaper range of residential mortgage products on offer, which suggests that the drop in mortgage lending was due to weakening borrower demand and not a decline in the availability of residential mortgages.

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UK property shortage becoming criticalWith an ever increasing population and open immigration policy, the UK currently needs around 3 times more houses than are currently being built, and the situation is set to get even worse when the EU restrictions on immigrants from Eastern Europe are lifted on 1st January 2014, according to a recent report by the Future Homes Commission (FHC), a body instigated by the Royal Institute of British Architects (RIBA).

The FHC have called for 300,000 extra residential properties to be built every year on brownfield land and sections of green belt land close to virtually every city, town and village in a much needed UK housing revolution.

There are currently a number of government backed schemes to try and kick start some life in the UK property market, including the Funding For Lending Scheme, New Buy and NewBuild incentives, all designed to encourage growth and movement in the market.

However, it will as always be down to the skills and expertise of entrepreneurial property developers negotiating skills enabling them to continue buying land at the right prices, or completing previously part built developments and most importantly selling the finished properties onto willing buyers including first time and next time buyers and even property investors at the right prices.

Having high street banks and mortgage lenders being encouraged to extend more lending to property purchasers including First Time Buyers (FTB’s) is vitally important and a must to assist buy to let investors to expand their property portfolios and allow them to fill the gap in the market created by the unprecedented tenant demand.

The massive demand for affordable residential rental property in almost every part of the UK and private sector rents are still increasing due to this demand, as landlords attempt to cash in.

Get your numbers right, and buy property now to enjoy some huge rental yields.

If you are new to property investment or want to learn new skills strategies and techniques then we recommend attending the Property Investing Quick Start course (PIQS) with Simon Zutshi 

Join like minded property investors

Join like minded property investors

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 In one day Simon will teach you how to pick up some great investment deals and make the most of the current investing opportunities!

Dates for next Property Investing Quick Start Programmes are:

Sunday 21st April 2013 – Birmingham

Sunday 19th May 2013 – London

 If you are an existing investor who wants to mix with like minded people and other active property investors then try the PIN Academy

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Funding For Lending Scheme Targeted

Funding For Lending Scheme Targeted

Some of the Con-Dem Government flagship schemes to get the UK housing market moving again such as Funding for Lending (FLS), NewBuy and FirstBuy have been targeted by a succession of property professionals at a buy-to-let event in Westminster, last week.

John Heron, managing director of specialist mortgage lender Paragon said: “Politicians are tinkering around at the edges and seeking headlines. They are being schizophrenic. On the one hand, they are doing everything they can to drive lenders away from high-risk lending, On the other hand, they are coming up with initiatives encouraging 95% mortgages on new-builds to first-time buyers.”

At the inaugural “Great Buy to Let Debate”, organised by the Wriglesworth consultancy, both he and other speakers called for a root and branch review of all government policies.

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Millions Regret Not Buying Property In 2012

Millions Regret Not Buying Property In 2012

A significant number of UK adults regret not buying property last year, new research by First Direct has shown.

Around 1.5 million people have responded to a banking and mortgage survey stating that they regret the fact they did not buy property in 2012.

The study revealed 3.6% of adults in the UK feel this way, which represents more than 1.5 million individuals.

Among the 25 to 34-year-olds, this proportion rose to 8%- the equivalent of almost 600,000 people.

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