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Property Investors Using Bridging Finance To Renovate Properties

Property Investors Using Bridging Finance To Renovate Properties

£640 Million (GBP) Bridging Finance Used By

Property Investors In Just 12 Months

There is a fresh warning being issued to property investors that the current UK financial system is not set up to help them develop or renovate property because mortgage lenders are not prepared to take the risk.

Property investors are finding it virtually impossible to secure a mortgage from mainstream mortgage lenders for a property that requires renovation or refurbishment, especially if the property was previously used for commercial purposes, e.g it was previously an office or a flat and requires alterations to allow the change of use from commercial to residential, or it is a property that does not have an existing bathroom or kitchen.

As has already been reported by Spotlight over recent months, there are promising signs that the UK’s economic recovery is building in strength, thanks to the implementation of the Government’s financial initiatives such as the Funding for Lending scheme, designed to encourage business and the Help-To-Buy scheme, which was launched at the start of the year in an effort to help more first time buyers to get onto the property ladder.

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Are you sick and tired of banks, building societies and high street lenders lying to you about lending and telling you how ordinary people can’t lend money?

The best way to get revenge is to get even.

Better still, beat them at their own game.

So if you’d like to get rich and take your revenge on the banks then you must

Here’s a taster of what to expect…

 

watch the FULL state of the Property Investment Market Address

This is the most all-encompassing report on the state of the UK property market ever released. Outlining and then drilling down into the real issues surrounding the UK property market in 2012 / 2013… most importantly:

1. What and where are the risks
2. What and where are the opportunities
3. What’s changed in the last 12 months
4. What’s in line for us all down the road

This video is delivered by Rob Moore & Mark Homer, full time property investors and triple best-selling authors details the state of the property investment market and 7 critical strategies you must follow in 2012/13 if you want to discover:

•How to have an unfair advantage for your next property acquisition
•How to predict the property market cycle AND be years ahead of everyone else
•Why competition is another Lie!
•7 truths most property EXPERTS won’t tell you!
•Step-by-step instructions showing you exactly what to do
(No guess work involved on your part)
•And much, much more…

Take advantage of the insight contained in this address to kick start your property investment career

Watch the full state of the Property Investment Market Address

To your continued success

The link in full      https://progproperty.infusionsoft.com/go/a294smForum2012

UK tenants can't afford to move house

PRS Tenants are staying in rental properties longer

Figures released by the Association of Residential Letting Agents, (ARLA), have shown that the average length of a UK tenancy in the private rented sector (PRS) is around 19 months.

The vast number of people now renting in England has increased by a dramatic 56% since 2004, which now accounts for over 20% of all households.

Tenant occupation length has increased 21% since records began in 2004.

With a limited supply of new property and rents now tipping the scales of the previous market peak of 2008, tenants who are coming towards the end of their term are finding fewer options available than they previously had.

A stark contrast to the preceding three years when low rents gave hard negotiating tenants the luxury of either staying where they were for less money, or upgrading to bigger and better properties with either no or minimal rent increases.

The UK private rented sector (PRS) is stronger than ever. Residential rental values have resulted in attractive inflation beating yields, and the supply and demand scales are now firmly tipped back in favour of the Landlord.

Legal 4 Landlords spokesman Sim Sekhon noted “It has become more sociably acceptable that people choose to rent property instead of purchasing it. In Germany, and other parts of Europe, renting is the norm. The UK as a nation is getting in line with our European counterparts”.

Landlords have a wide variety of professional services available to them to compliment and assist with their business requirements including insurance and rent guarantee products

 

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Tenancy Deposits Increase

PRS Tenancy Deposits Increase

The average tenancy deposit for a residential property in the UK’s private rented sector (PRS) has increased by £125 in the past year, up from £985 to £1,110.

When letting property, Buy-To-Let Landlords and letting agents in London demand the highest deposits from would be tenants (£1,495), while the average PRS residential deposits were lowest in the Yorkshire and Humber area (£568).

With rents continuing to rise, landlords and agents are understandably taking larger deposits towards protecting their property investments, however, Landlords have been required to place the tenants’ deposit with one of the 3 Government approved tenancy deposit schemes since April 2007.

Landlords would prefer to collect the equivalent of up to 2 months rent as the deposit for their property, however this is beyond the finances of most tenants and requesting a high deposit can actually put off suitable tenants who simply haven’t got the ready cash but who do earn enough to afford the rent.

The increase in the Assured Short-hold Tenancy (AST) threshold, with tenancies up to £100,000 per annum now requiring deposit protection, has increased the number private rented sector properties this applies to and so increased the number of tenancies requiring deposit protection.

*Average deposit required for PRS residential property (England and Wales)

  • East Midlands: £916
  • East of England: £961
  • London: £1494
  • North-East: £665
  • North-West: £693
  • South-East: £1069
  • South-West: £702
  • West Midlands: £781
  • Yorkshire & Humber: £568
  • Wales: £747

*Data: mydeposits

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