Holidaygoers urged to 'protect' property - Published:08/12/07
Holidaymakers are being encouraged to make certain they take sufficient measures to stop a costly incident occurring at home while they are awayOver one million homeowners are supposed to return home to a difficult situation each year, facing total costs of £23 billionResearch from Halifax estimates that Britons misplace out to the tune of £820 million each day due to burglaries, while water leaks are supposed to cost more than £960 million to repairOne of the main problems homecoming holidaymakers face is from a fault with a utility, such as central heating, hot water and gas or electrical energy, which collectively expenses Britons some £220 million to fixCommenting on the findings, Vicky Emmott, senior manager of underwriting at Halifax Home cover, supposed: "As well as making sure they are insured there are lots of other practical belongings that holidaymakers can do to protect their properties at the same time as they're away"Other recommended measures include checking the details of a Halifax insurance policy before leaving away, ensuring pipes are suitably protected and leaving a input.
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Buy-to-let on landlord's salary - Published:21/11/07
High house prices and falling rents are most important buy-to-let lenders to present mortgages based on landlords' salaries rather than letting valueCASH PILE: Almost £95bn value of buy-to-let mortgages were outstanding at the end of 2006 and lenders are reduction borrowing criteriaA rising number of loans based on the landlord's income multiple instead of the customary 125% rent-to-mortgage repayments calculation are being offered, as buy-to-let owners face tougher timesThe wider variety of loans based on landlord salaries follows many firms reduction their lending criteria from the once severe 125% rent-to--repayments level to below 115% and even now 100%, and allowing buy-to-lets at senior loan-to-valueThe emergence of looser lending criteria has come at the same occasion as buy-to-let landlords are struggling to find novel property purchases where rent covers their mortgage and amid information that buy-to-let owners are dipping into their own pockets to make up the deficitCritics of buy-to-let have warned that landlords subsidising rents is unsustainable and buyers continuing to purchase uneconomical investments are creating a fizz Despite four interest rate rises since August, the latest Halifax house price directory shows house prices are rising at almost 11% per yearMeanwhile, the Council of Mortgage Lenders said there were 850,000 buy-to-let mortgages in the UK at the end of 2006, worth £948bn - more than double the £39bn mortgaged on rented properties at the finish of 2003However the buy-to-let industry says landlords willingness to subsidise rents reflects the sight of properties as a retirement fund, with owners beleiving rents will rise in future and capital gains will outdo other investmentsIndependent buy-to-let mortgage broker Mortgages for Business says it has seen a growing number of property-owner salary-based deals, but they were for experienced investors and ideal for properties requiring renovationDavid Whittaker, organization director of Mortgages for Business, said: 'It is essential that it is understood that these novel products are designed for experienced landlords'The lender stipulates that the saver must have been repaying a buy-to-let mortgage and residential mortgage for the last 12 months and I would not recommend them to green landlords who do not have a strong grasp of the buy-to-let marketplace'Mr Whittaker added that tightening of rental yields would be unlikely to dissuade investors from ongoing to build portfolios because landlords have traditionally viewed capital appreciation as their main basis of income, with rental income as a means of covering mortgage payments and property upkeepRecent research from the friendship of Residential Landlords showed only 5% of buy-to-let investors were looking for rental income solely and more than semi were looking to hold on to their properties for a minimum of 15 years hoping values would rise considerablyBuying and subsidising something as illiquid as property based solely on future capital appreciation hope is not investing, it's a form of monetary suicide Many will soon be learning this the firm way Maybe at some point in the prospect, when this ridiculous bubble has rupture genuine FTBs will be able to afford somewhere to call homeHence the ever more original ways for banks trying to get cash out of BTLers and Mortgagers A lot of lenders are going to go to the partition as well as buyersThis is another example of the industry attempting to keep the sphere rolling Whenever the MPC raises interest rates the industry lowers its lending criteria This is just now a fiasco to come to go bangSelect a loan term 12 months (1 day 24 months (2 years) 36 months (3 existence 48 months (4 existence 60 months (5 existence 72 months (6 existence 84 months (7 existence 96 months (8 existence 108 months (9 existence 120 months (10 existencePlease select a type of cover Life cover Home and contents automobile Breakdown services Health - medical Health - dental Travel Pet - dog Pet - cat GOThinking about investing in property This is Money has the best information and recommendation.
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House prices will fall in 2007, says expert - Published:15/01/07
House prices are set to drop during the coming year due to an increase in the number of properties obtainable for purchase, according to the creator of property website PrimeMoveHenry Prior told BBC Radio 4's Today agenda that record house prices will result in more people trade their homes which in turn will denote there are more options available to buyers so prices will fallHe spoke in the wake of research undertaken by Halifax that shows house prices cut down by one per cent during December last day - the first occasion this has happened since JuneMr Prior remarked: "We monitor the total number of properties that are on the marketplace and we're seeing that total supply is at an significant near to the ground - an all time near to the ground as far as we can work out But we are seeing record numbers of new properties pending onto the market"Overall, property prices rose by 99 per cent in 2006 says Halifax and the bank also announced that it believes house prices will add to this year.
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House Prices Will Fall In 2007, Says Expert >>
