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Reena Shares How To Get Over £100k Profit From Property In Just 9 Months!

Reena Shares How To Get Over £100k Profit From Property In Just 9 Months!

Reena Shares How To Get Over £100k Profit From Property In Just 9 Months!

Our friend, Reena Malra, “The Queen of Lease Options” will be running a Free Live Online Interactive Training and Case Study session on How To Really Profit From Property this week on Wednesday 10th June @ 8pm.

After attending Reena’s last exceptionally informative online training session, I can tell you it really was really insightful to hear, not only from Reena, but also from one of her very successful lease option mentee’s on how they are making huge profits from property!

We have been into property for a number of years and we learned so much from Reena’s last session that it opened our eyes and a few doors and we have only utilised just a few of the tips we learned, so this session is very exciting for us, that’s why we are sharing this fantastic FREE opportunity with you!

Discover How YOU can get £118,920 (GBP) Profit from Property in just 9 months WITHOUT…

  • Help from the banks
  • Using any of your own money
  • Relevant experience!

Register Here For This Free, Live Interactive Training!

Here’s what you can look forward to learning on the night:

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Royal Institute of Chartered Surveyors Slams Government

Royal Institute of Chartered Surveyors Slams Government

Government Not Doing Enough
To End Housing Shortage

A recent study by the Royal Institute of Chartered Surveyors (RICS) has shown that the Government still are not doing enough to alleviate the chronic shortage of residential housing in the UK.

The Royal Institute of Chartered Surveyors have again stated that successive governments have failed to produce a coherent long-term strategy for UK housing.

The RICS housing commission may concede that some of the coalition government’s policies are producing short-term help for the UK house building industry but they are prepared to argue that successive ministers’ lack of consistency in policy over the past 50 years has exacerbated the failures of the UK property market.

The Royal Institute of Chartered Surveyors think that current Government housing policies are merely clearing up the problems left by their Labour party predecessors, and current government ministers are struggling to find a viable alternative solution to the current housing shortage.

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Is There A Dark Side To The Help-To-Buy Scheme?

Is There A Dark Side To The Help-To-Buy Scheme?

Is There A Dark Side To The Help-To-Buy Scheme?

The Government’s Help-To-Buy Scheme was intended to allow first time buyers to get on the property ladder with the hope that this would kick start the UK property market and it appears to be having the desired effect with increasing property transactions and the slow rise in property prices.

However, the Government intervention in the UK residential property market could have disastrous consequences for property owners and could even cause another property bubble.

The Government are spending huge amounts of money to aid first time buyers to get on the property ladder by offering low deposit, high loan to value, mortgages that are underwritten by the Government, effectively giving them a second charge on the property for a period allowing the owners to repay at a set rate per year.

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Getting a mortgage to purchase property saves money, according to Barclays, who’s research suggests that people will save almost £200,000 (GBP) over their lifetime by buying property rather than renting.

The bank put the average cost of renting a residential property over 50 years at £623,000 (GBP), compared to just £429,000 (GBP) for buying a property, paying a mortgage and maintaining home – making a difference of £194,000.

The Barclay’s study said that around 50% of expenditure goes on mortgage payments, with around 40% going on capital repayment and interest costs, over 50 years of home ownership.

Barclay’s head of mortgages Andy Gray said that whilst the initial cost of getting on to the property ladder “can be a big barrier” for people, due to high value of deposits now required, there are still clear long-term benefits.

As inflation rises, so does the value of owning a property. While rental prices rise and fall with inflation, once a residential mortgage is paid off, all a homeowner has to pay for is the maintenance of the property and annual insurance to protect it.

While it may be cheaper to rent in the short-term, over the long-term PRS rents will inflate and tenants will be no nearer to owning property, whereas after 25 years, a home buyer will own their home outright and have financial security in their retirement.

If only getting a mortgage was that easy…..

Residential property prices across the UK slumped in April, according to the latest Royal Institute of Chartered Surveyors (RICS) housing market survey.

Across the UK, 19% more chartered surveyors reported property valuation falls rather than rises in house prices.

Expectations for future residential property prices also reached their lowest point with a net balance of 17% more respondents predicting further drops.

Demand from potential buyers was relatively flat during April 2012 as 5% more surveyors reported increases rather than decreases in new buyer enquiries (from +10% in March).

Meanwhile new instructions were stable as 1% more respondents reported falls rather than rises in new residential properties coming up for sale. Whilst the trend may appear flat, the level of supply has not seen any significant drops since July 2011.

April’s property transaction levels entered negative territory for the first time since September 2011, as 6% more RICS surveyors across the UK reported decreases rather than increases in transaction levels.

London was the only part of the UK to observe a residential property prices rise, while the West Midlands and Wales saw the most significant declines.

Whilst the RICS predictions for future property prices saw a notable dip, expectations for transaction levels once again remained positive with a net balance of +15% more respondents expecting sales to rise over the coming three months.

Global Director for Residential Property at RICS, Peter Bolton King, says: “With the recent surge in activity brought on by March’s stamp duty holiday coming to an end, it is unsurprising to see that prices across much of the country are continuing to fall. Renewed concerns over the economy and talk of a double dip recession dominating the headlines in recent weeks may well have served to undermine consumer confidence. What’s more, the continuing lack of affordable mortgage finance is still hindering many first time buyers who cannot afford to get a foot on the property ladder.”

The UK coalition Government’s NewBuy scheme was launched today, (12th March), aiming to provide a much needed boost for people seeking first-time buyer mortgages.

A recent survey by property portal Rightmove questioned over 2,726 potential house purchasers between March 5th and 7th 2012 about their awareness of the 95% NewBuy mortgages and how the new Government backed scheme might affect them.

Their results of the survey found that nearly 2 in every 5 first-time buyers believe that the introduction of the scheme means they are more likely to get on the housing ladder within the next 12 months.

The NewBuy scheme is available only on UK new-build properties.

However, some critics were already questioning the scheme before any official announcement was made.

Labour’s shadow housing minister Jack Dromey claimed that only 3 out of the original 7 lenders were participating, and that the number of developers in the scheme had fallen from 25 to 7.

The Council of Mortgage Lenders, which up until last week was unable to confirm whether the launch was even going to go ahead despite being co-architect of the scheme.

The CML issued a general, guarded statement, adding that it would issue further information when details of the scheme and participants were available.

CML Director General, Paul Smee, said: “NewBuy mortgages will help creditworthy borrowers who simply haven’t yet managed to build up a large enough deposit to gain access to finance to buy a newly-built home. NewBuy is good news for home-buyers, and potentially good news for jobs and the wider economy too. Borrowers need to understand the implications of high loan-to-value (LTV), borrowing, so we will be supporting the initiative with clear consumer information to help people decide whether NewBuy borrowing is an attractive option for them.”

The House Builders Federation (HBF) also issued a statement just days after it too had to admit it did not know for sure if today’s launch would go ahead.

Stewart Baseley, executive chairman of the HBF, said: “NewBuy will help thousands of people to meet their aspirations to buy a new home, freeing up the housing market and helping first-time buyers and those unable to take the next step on the ladder. The scheme will also provide a vital kick-start for house builders large and small who will be able to build the homes and create the jobs that the country desperately needs.

According to the research by Rightmove, 38% of those looking to buy for the first time stated they would be more likely to purchase a home over the next 12 months once the scheme was launched.

The scheme could also benefit ‘second-steppers’ – those looking to sell and trade up for the first time – with 24% of respondents in this group stating they would be more likely to purchase over the next 12 months.

Rightmove director Miles Shipside said: “NewBuy looks set to give a significant housing boost to the fortunes of those who need it the most. We’ve found that raising a deposit has long been the major obstacle for those looking to purchase a new home at the foot of the housing ladder. NewBuy helps address this challenge, and we’ve found that the knock-on effect is that, as of today, nearly two in five first-time buyers will be more likely to getting on the housing ladder via thanks to this initiative. First-time buyers and second-steppers have long been frustrated in their efforts to get on to or move up the housing ladder by prohibitive deposit requirements. Four out of ten first-time buyers cited ‘raising enough of a deposit’ to be their single biggest housing market concern in our recent First-Time Buyer Report. NewBuy opens the door to these groups and can also serve as a great stimulus to help safeguard and create jobs in the new build property sector.”

The HSBC and Yorkshire and Clydesdale banks have already said they will not be participating, and neither LloydsTSB or Santander have deals ready although Nationwide has said it will have NewBuy deals available.

Families who are looking to move into larger properties are finding themselves stuck in first-time buyer flats because they cannot sell their homes or get a mortgage.

A survey by LloydsTSB found that “second steppers”, those who have a first home to sell and who want to move up the ladder, are increasingly stuck in unsuitable accommodation.

The report reveals that home affordability for Second Steppers has become much less favourable and declining house prices have led to many homeowners being in negative equity.

Second Steppers are homeowners looking to sell their first home and move up the property ladder.

Many potential Second Steppers in today’s market would have bought close to the peak of the UK property market and are now finding it increasingly difficult to get off the “first rung”.

Many bought at the peak of the market in 2007, and may have negative equity to cope with as well as a lack of buyers and difficulty meeting moving costs.

The figures show the majority of property vendors in this situation have been stuck on the property ladder for over 12 months.
Some will have had children in the intervening time and feel that they are stuck in unsuitable accommodation.

22% now believe that it is harder to move up the housing ladder than to get on it in the first place.

According to Lloyds TSB’s report,
• 61% of second steppers have wanted to climb up the ladder in the past 12 months but have been unable to do so as they face an increasing number of challenges.
• 22% believe it is now harder to move up the ladder than get on it in the first place.
• 43% also feel it will be as equally difficult.

Stephen Noakes, mortgage director of Lloyds TSB said: “First-time sellers are now faced with some very tough challenges when trying to make their next move on the property ladder and many are finding it more difficult than getting on the ladder in the first place. It is vital that this group of home movers receive more support and attention as they play an intrinsic role in getting the housing market moving again.”

A recent study by HSBC also found that as many as 360,000 home owners are unable to move up the property ladder thanks to a combination of sliding house prices and more restrictive lending rules.

Those who bought properties in 2007 before the housing crash do not now have sufficient equity in their homes to trade up to larger properties, according to new research by HSBC.

Although most are not yet in negative equity, they do not hold enough of their home’s value to cover the required 10% deposit on a new property and pay associated moving costs, such as stamp duty, agent fees and legal expenses.

The problem has been exacerbated because the price of many first time properties has fallen faster than the rest of the housing market.

Demand from first time buyers has waned since lenders pulled out of the 100% mortgage market.

Mortgage lenders now require buyers to put down at least a 10% deposit, and even then these borrowers will be charged a higher mortgage interest rate than those borrowing 75% of a property’s value.

Peter Dockar, the head of mortgages at HSBC, said: “Those who have bought their first home can no longer rely on rising house prices to provide them with the deposit they need for their second.”

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Mortgage approvals, residential property sales and first time buyer numbers increase

Is the UK property market making a comeback?

January figures from a variety of trusted and respected sources offer a major boost for the UK property market as mortgage approvals, first time buyer numbers and residential property sales all increased during January.

Data gathered from the Council of Mortgage Lenders (CML), British Bankers’ Association (BBA), National Association of Estate Agents (NAEA) and HM Revenue and Customs (HMRC) is viewed as a major boost to the UK property market.

UK property buyers have been taking advantage of the two-year stamp duty exemption due to end in March 2012, with the number of First-Time Buyers (FTB’s) registering with estate agents also being the highest since May 2011.

The British Bankers’ Association (BBA) say that, 38,092 applications were approved in January, 34% up on the same time last year, and the highest figure seen in two years.

The National Association of Estate Agents (NAEA) figures show that 23% of overall property sales in January were made to First-Time Buyers, a rise from 21% in December, marking the third consecutive monthly increase.

Mortgage lenders have claimed that one of the driving forces behind the increase in activity has been the imminent end of the two-year stamp duty holiday for first-time buyers.

The Council of Mortgage Lenders (CML) reported that the £10.5 Billion (GBP) loaned in the form of mortgages during January 2012 was the sixth month in a row that the year-on-year figure has risen, and overall mortgage lending in January was up 10% on a year ago.

Despite general consumer caution around borrowing, first-time buyers have flocked to get on the property ladder, showing stamp duty was a major deterrant.

NAEA President, Wendy Evans-Scott, said: “The figures suggest that stamp duty is a key factor for those on tight budgets who are considering a property investment”.

Overall residential sales across the UK property market increased from 5% per branch in December to 6% in January.

The number of residential properties sold in the UK was 12,000 up on January 2011 and also at its highest level for four years.

HM Revenue and Customs (HMRC) figures showed that a total of 64,000 property transactions went through during January, up on the 52,000 deals in January 2011 and the best start to a year since 2008’s tally of 79,000.

David Dooks, BBA statistics director, said: “January saw the high street banks approve more mortgages for house purchase than of late, despite low household confidence, as some people try to complete transactions before the stamp duty holiday ends in March.”

All in all, this is great news for the UK property market and a warning sign to property investors that they are no longer the only people buying property.

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