News

July 31st, 2014

London is the least profitable place in the country to become a landlord according to mortgage lender BM Solutions.

The new research showed that rental returns in the north are currently considerably better than those in the capital.

The calculations were based on taking the level of rent received against the property value, creating a yield figure for 12 different regions.

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July 29th, 2014

Landlords are fed up of being overcharged by letting agents, according to a survey of 600 investment property owners.

Only 30% of landlords agreed that fees were fair – but most other results were even more damming. Some 78% felt agent’s fees were not transparent and nearly 90% of landlords claimed that they had been misled by agents at some point.

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Categories: Landlords and Tenants
July 24th, 2014

Many UK home owners are currently downsizing, with the trend set to continue over the next few years, property experts claim.

According the latest Housing Futures survey from property consultants Strutt & Parker, some 52% of home owners between the age of 70 and 79 consider the need for a smaller home to be a key factor for moving in the next few years.

In the 60 to 69 age group it is a similar story, with 39% of homeowners thinking about downsizing and 22% of 50 to 59 year olds thinking of scaling down their property.

“There is no doubt that downsizing is a consistent trend. Some 72% of the people we surveyed are planning on moving in the next five years,” said Stephanie McMahon head of research at Strutt & Parker.

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Categories: Home Insurance, Homeowners
July 22nd, 2014

Living close to a good school remains a priority for home buyers in the UK with 20% of estate agents believing it is the most important factor.

The latest research data from Move with Us, found that 18% of estate agents believed good transport links were key. Proximity to local amenities such as doctor’s surgery and shops came in third with 14% of the votes.

Other factors that were less important to buyers include a fast internet connection which scored 7.6% and a good mobile phone signal with 13%.

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July 17th, 2014

A home which cost just £1 nine months ago, would now go back on the market with an asking price of around £70,000.

Dubbed Britain’s cheapest home, Lawrence Poxton and his wife Teresa bought the terraced property in Stoke-on-Trent for just £1 after the council put 33 heavily reduced properties on the market in an innovative attempt to clean up the area.

The bus driver, 48, and his wife were picked from thousands of applicants in November of last year to be the first couple to purchase one of the reduced houses.

Since then, the couple have transformed the boarded-up two-bed mid terrace into a modern home – with a spacious bathroom, roomy kitchen and plush carpets.

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July 15th, 2014

Buyers are currently falling over themselves to live in a converted garage in Brixton measuring just 110 square feet, in yet more evidence of London housing market madness.

The flat, described by estate agents Kinleigh, Folkyard & Hayward (KFH) as “a converted garage that is just about big enough to fit a single bed in”, went on the market two weeks ago for £125,000.

Several buyers clambered to see it, however it is unlikely they would be able to secure a mortgage for it due to its size, a cash buyer’s offer of £85,000 was also declined.

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July 10th, 2014

A joint report produced by the Electrical Safety Council and housing charity Shelter suggests that a third of rental properties fail to meet basic electrical safety standards.

The two organisations have joined forces to call for a change in the law to compel landlords to carry out regular checks similar to what is already in place to protect tenants against faulty or dangerous gas appliances.

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