Property Solutions

RICS launches free guides to help home buyers and sellers within the UK

Posted on November 27, 2013 at 1:05 pm

Image With almost a 3rd of first time buyers within the UK admitting that they don’t understand the processes involved when purchasing their first home, the Royal Institution of Chartered Surveyors has launched a chain of free guides.

It says that at a time when new schemes along with Help to shop for are seeing demand rapidly increase, the patron friendly guides aim to assist buyers and sellers understand exactly what to do and the way to prevent any pitfalls.

The long awaited phase two of the government’s Help to shop for scheme is predicted to work out a pointy increase in potential buyers, and a record 56% more chartered surveyors expect to determine transaction levels increase instead of decrease between now and the tip of the year. However, with 29% of first time buyers saying that they don’t fully understanding the acquisition process when taking the plunge there’s a need for additional info.

RICS says that it truly is significant that over 1 / 4 of first time buyers also admit not to knowing the variation between a market valuation, that’s the property’s actual worth, an agent’s appraisal that’s an estimate as to what it could sell for and a survey that’s a surveyor’s assessment as to the condition of the valuables.
It believes that failing to realise the basics could create big problems for buyers and sellers alike and, often times, may lead to unexpected costs or even potential transactions falling through.

The guides include: Buying a house, Selling a house, Home surveys, Renting a property, Letting a property, Property auctions and Boundary disputes.

‘It’s no secret that buyer numbers are at the up and a growing number of sales are dealing with because the market start to find its feet again,’ said Peter Bolton King, RICS global residential director.

‘With this in mind, it is a big concern that there’s not enough advice on the market to assist people trading their homes, especially in the case of first time buyers who haven’t passed through the tricky and stressful means of purchasing their first home,’ he explained.

‘The guides we produced are designed to assist those who’re wanting to buy, sell or rent a house and, hopefully, will go a way to ensuring the growing collection of transactions around the UK go smoothly,’ he added.

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Posted in Property Solutions

Bedford property maintenance

Posted on November 25, 2013 at 12:32 pm

While purchasing a property might signify the high point of a person’s personal or professional life, Bedford property maintenance is another story altogether as many people find the routine maintenance tasks a challenging chore and would do anything to avoid it. At the same time, people wish to have their property always in the best condition, totally clean and hygienic and in need of least repairs. Keeping these things in mind, a person should consider hiring the property maintenance company from one of the best property maintenance agencies in Bedford.
Property maintenance covers both commercial and domestic property and even industrial. There are numerous property maintenance companies which exist to perform all of the property maintenance chores; whether one needs electrical, flooring, roofing, brickwork, plastering, carpentry, drainage or heating repairs as well as renovation, extension and conversion work; property maintenance agencies exist to take care of such jobs, giving a person peace of mind that all of the building and repair work is handled by highly trained and experienced hands.
As well as interior repairs like the ones named above, property maintenance firms also exist to offer help and assistance to the exterior of the property as well. Some of the maintenance and repair tasks that can be undertaken on the outside of the property include, Fencing, Gates, Turfing, Driveways and Paving, Garden Patios, Concreting, Walls, Garden Decking and Groundwork.
In Bedford, property maintenance services are being offered by numerous professional property maintenance agencies. Commercial establishments like clubs, hotels, serviced, hospitals, apartments etc. generally hire a property maintenance service provider to take care of their property maintenance needs on an ongoing basis.
The most common tasks which property maintenance firms undertake include maintaining the air conditioning, plumbing, electrical wiring, cleaning of all public areas like the washrooms etc. While many individuals view property maintenance services as a necessary evil, but even these people agree that it is important to have a professional property maintenance firm to ensure smooth running of the company. A shabbily kept company will not earn good reputation and will lose clients over a longer period of time. But a well kept building generates positive word of mouth and can attract new clients all the time.
Before hiring Bedford property maintenance, you need to clearly specify all the activities that you want the maintenance company to handle. When making the selection from amongst the various Bedford property maintenance, it is advisable to check on their references and ensure that they have the right experience and a dedicated team to be able to deliver up to the expectations. A good maintenance company will be sensitive to the preferences of its clients and will normally be flexible to accommodate their requests.

It is also advisable to make sure that the company that you finally pick for the maintenance of the property runs proper background checks on their employees. You need to also ensure that the property maintenance company is fully insured so as to avoid the possibility of any heart burns later on.

Posted in Property Solutions

Property prices in Istanbul expected to continue rising

Posted on November 23, 2013 at 3:12 pm

Image Istanbul’s property market shows no sign of cooling and the pace of growth has increased in recent months in step with Istanbul property consultants Universal21.

Both local and foreign investors are investing in real estate and in August the cost of a brand new home inside the city had risen by a typical 2.66% in a month in an effort to an overall 13.8% increase for the year.
The firm says that it is greater than 1% higher than Turkey’s national average of roughly 12% inside the same period.

‘For those investors who purchased property in 2010, the past three years have brought year on year increases of between 12 and 15%. There are few property markets on the earth that would match this level of property price inflation,’ said Monica Anca, director of Universal21.

She added that prices are expected to continue rising. ‘We are seen a growing number of investors from the center East arriving in Istanbul due to the market opening as much as foreign investors greater than a year ago,’ she explained.

Previously it was difficult for investors from some countries to buy property in Istanbul, however with restrictions eased this has helped fuel a second spell of double digit growth within the city.

According to Istanbul real estate analysts Gyoder’s Home Price Index, property prices in Istanbul have risen a typical 41% since January 2010. Assuming that the present pace of property price increases is maintained Istanbul could well reach the 50% milestone throughout the next six months say analysts at Universal21.

Studio and two bedroom apartments currently offer the most efficient capital growth in Istanbul in step with Adil Yaman, director and market analyst at Universal21. He mentioned that foreign buyers peculiarly should do their homework before investing.

‘As with any city, investors should proceed with caution and confirm they know up to possible about where they’re investing, including the likely rental yield and insist in a selected area,’ he said.

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Posted in Property Solutions

Regional prime property markets inside the UK beginning to shows signs of recovery

Posted on November 23, 2013 at 7:33 am

Image Whilst prices within the prime London markets showed 2.5% growth within the second quarter of 2013, this was not the case for the prime regional markets.

However, there have been encouraging signs that prices inside the regions have began to or, are just about, recovery, in step with the most recent property market report from Savills.

The prime suburban markets, where prices now average £440 per square foot, have often proved to be the strongest. That is particularly the case in Elmbridge, where a flow of wealth down the A3 corridor signifies that prices are 6.6% above their 2007 peak.

In this market the non-public estates of Wentworth and St Georges Hill have performed particularly well with prices on average 20% above their pre-crunch level. Here’s supported by robust transactions inside the first a part of the year, reflecting the ongoing high levels of international demand, which show parallels with central London.

Within the commuter zone town markets are the strongest with locations which include Cambridge, Oxford, Winchester and Bishop’s Stortford all having exceeded their 2007 peaks. These well established locations are critically are within an hour of London by rail and offer quite a lot of highly rated schooling and are showing positive growth of one.9% thus far this year.

However, village and rural properties around the prime regional markets have struggled to check this performance, with an emerging preference for top urban property.

Generally, the report shows that there was a vital divergence between the commuter zone and the realm beyond, even within the South of britain, but within the last quarter some modest signs of price growth have occurred in these areas. This have been most marked within the more established prime country markets  including Bath and the Cotswolds.

An analysis observing the Cotswolds compared with coastal markets clearly shows there’s a continued weak demand for second homes and or discretionary purchases, a number of which now offer real value.

By contrast the Cotswolds, which has accessibility to London, a variety of schools and good family housing stock is back in favour. Deals are occurring and values increased by 2.1% through the second quarter if the year, leaving the distance since peak at around 10%.

The coastal market however, remains overpriced in some areas partly because of scarcity and continues to be afflicted by a scarcity of buyers. Average values fell by 2.4% within the second quarter and are still 26% off peak.

The report also shows that the prime country house market in Scotland is littered with similar issues having been through a period of serious price adjustment, that makes it seem like useful value when compared with the remainder of the prime UK market.

‘At the start of the year we anticipated that 2013 would mark a turning point within the prime regional markets, with the space between prices within the prime markets within the capital drawing demand out of London. This was slow to materialise meaning the distance has widened further,’ said Lucian Cook, director of Savills residential research.

‘With confidence within the economy and the broader housing market improving  against the backdrop of continued low rates of interest, we believe that a better 365 days will see a return to more consistent house price growth inside the prime markets beyond the capital, though the market is probably going to stay highly seasonal,’ he added.

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Posted in Property Solutions

Survey reveals confusion over UK’s flagship Help to purchase scheme

Posted on November 21, 2013 at 8:29 pm

Image There’s confusion over the united kingdom government’s flagship Help to shop for mortgage guarantee scheme, with 43% of active first time buyers and other home movers confused concerning the benefit the scheme will give them.

A survey found that 31% of customers who’re looking at buying or move admit they don’t know whether there’s a difference between a 95% mortgage offered by a lender which has signed as much as the scheme and a 95% mortgage from a lender which hasn’t.

Results from an independent consumer survey commissioned by the Building Societies Association (BSA), also shows that 18% of first time buyers and 17% of home movers believe that they may borrow more through this scheme than with a traditional 95% and 12% of both first time buyers and residential movers believe that their monthly repayments might be lower due to taking a Help to purchase mortgage guarantee loan.

One in 10 first time buyers but just 5% of home movers believe that the scheme will protect them in the event that they cannot sustain their monthly payments while 12% of first time buyers and six% of home movers say that Help to purchase mortgage guarantee will protect them if their house price falls.

But not any such suppositions is right. The assistance to purchase: Mortgage Guarantee Scheme was designed to encourage more lenders to lend to borrowers with small deposits, increasing the provision of this kind of loan. The mortgage that a private consumer receives and the approval process they struggle through, are subject to the similar lending rules whether a mortgage is contained in the Help to shop for scheme or not.

In fact, when considering the affordability of the assistance to purchase: mortgage guarantee loan, until the recent FCA rules on the topic of the Mortgage Market Review come into force in April 2014 borrowers may be subject to stricter requirements then they’d be otherwise.

The introduction of and the publicity surrounding the 2 Help to purchase schemes has had a good effect on consumer confidence and is probably going to extend the entire volume of better loan to worth ratio lending, as some banks come again into this market, says the BSA.
Indeed, some lenders, particularly many building societies, have consistently offered loans requiring deposits of 5 or 10% and continue to take action outside the aid to shop for Scheme. So borrowers may find that they have got a much broader choice than they expected when shopping around for an extremely low deposit loan.

‘It is unsurprising that some consumers are finding the aid to shop Mortgage Guarantee Scheme difficult to get their heads round. The placement was complicated by the launch of 2 very different schemes both called Help to purchase,’ said Paul Broadhead, BSA head of mortgage policy.

‘It is important that providers offering loans under the scheme leave applicants in definitely concerning the terms in their mortgage loan. i’m particularly concerned that an inexpensive minority of active first time buyers believe that they’re able to borrow greater than normal and they are somehow protected yet neither assumption is correct,’ he explained.

‘In fact a 95% mortgage during the Help to shop for mortgage guarantee is precisely similar to a conventional 95% mortgage. It’s vital that these myths are dispelled at application to avoid the potential for consumers misunderstanding their mortgage loan and later feeling misled,’ he added.   

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