Thousands of homeowners are beginning to realise that they are sitting on a pile of cash, which is their home and are releasing this to either fund retirement, help younger members of their family. Figures reveal that a massive £1.4billion has been released through the equity release scheme, using the money to bulk up pensions, or to give money to children and grandchildren rather than wait for inheritance.
A new survey by a leading UK bathroom retailer has found that black mould in the bathroom is enough to put some potential home buyers off a property. 50% of those questioned said that black mould would be enough to put them off buying a property, with out-dated or old bathrooms also high on people’s list.
Just because a boiler is old it does not necessarily need replacing. We are “bombarded” by government and industry telling us that we should all fit condensing boilers, why? Many older boilers are far superior to modern ones. They feature cast-iron heat exchangers, and few moving parts, the exception being the pump, but this is not always a feature of a boiler anyway and can be external to it. (more…)
At one time the best way to get a healthy return from a buy to let property was to buy a large family home and chop it up and make it into bedsits, they were known as houses of multiple occupation or (HMO) but his is no longer the case.
Parenting brings a lot of joy to many, but it can also be one of the most stressful times for parents. Research by an online blind retailer looking into the home lives of families has found that bedtime comes top of the most stressful times of the day for many parents.
Fears of higher interest rates among would-be property buyers, has dropped a bit in the third quarter of the year from around 19% being concerned about a rate hike to the latest figure of 14%. It is the deposit which is causing the greatest concern from would be house buyers, now about 61% claim that they could not raise the necessary amount. Mortgage costs, already low due to years of rock bottom interest rates and government measures to drive them lower, have dropped further in the last six months.
If you are a first time buyer and looking for a mortgage, you may struggle; figures show that lending to first-time buyers was 3pc down on the year before. However the same cannot be same for BTL landlords and it is this group that is the only group borrowing more than a year ago.
It seems almost too good to be true, but a conflict has broken out on the high street which has led to Barclays undercutting the previous low that was being offered by TSB and Santander.
Barclays have said that they will cut the rate on a 10-year mortgage deal it is offering from 3.45% to 2.99%. That sound pretty good but to qualify you must provide equity or have a deposit of a minimum of 40% and also pay a fee of £999. Looking at the financial site records of Moneyfacts, over a period of 21 years, this is the lowest rate ever seen for a ten year fix. (more…)
There is much talk about rent controls suggested by the think tank Civitas and whilst tenants may be rubbing their hands at the thought, will it be a good thing in the long run? In spite of landlords getting some juicy benefits such as a form of tax relief on interest payments, many are not even meeting their costs with the income they are receiving and should interest rates rise they could be in serious trouble.
This is the third month that the construction industry has reported a slowdown in growth, but despite that, it has had a bumper year, the reason for this, the best year for builders since as far back as 1997, is that UK’s booming property market has at its heart house building, which is the strongest sector in the industry.
Merry Christmas from all the team here at LetMeBuildIt. We hope that all of your home improvement dreams have come true! (more…)