People’s priorities vs people’s realities

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An article in the Express came to my attention today, interesting reading for first time buyers. In a survey it appears most young people’s priority is to grt on the property ladder by the time they are 30, in fact they may see it as a failure I’d they do not achieve this target.

What is interesting is the national average age for owning your own home for the first time is now 36, meaning that the target is definitely being missed for a lt of people. The reasons for this can be anything from increasing property prices, stricter lending criteria or possibly larger deposits required. Whatever the reason  it means many people are falling short or ‘failing’.

The fact is that it doesn’t have to be this way for people. Offering a rent now buy later service means we have the answer to get young couples and families on the property ladder sooner rather than later.

We offer many bespoke solutions suitable to the individuals needs, so just get in touch with us if you want to know more.

Boom for property owners?

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Latest reports in today’s paper suggest good news for homeowners in the UK, with property prices increasing slightly over the last 4 weeks. This needs to be taken in to account with the previous drop in the market, as is so often seen during the summer months. The time period over the course of the year has shown a more steady increase, but homeowners don’t be too complacent about the rate of increase of equity in your home based on the latest report.

Page link is here for further reading.

Interest rates held for another month

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Latest bank of England rates were confirmed last week, still no rise keeping our current t mortgage rates still at its lowest.

Link here from the Daily Express to read further

The internet helps vendors with realistic valuations at last

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I met a vendor last week who is looking to move on from her house in the eastern district and relocate closer to the town to be near her family. Very sensibly she was weighing up her options for a fast sale, and originally made contact with an Estate Agent based in town. A couple of days later I went round to talk about her circumstances and find a conclusion so she could move. One of the things we discussed was the estate agents valuation of the property.  It was way above the street average and it caused her to question if she could actually achieve this price by researching online. The wonderful thing about selling your house these days is the amount of detail the public are able to obtain on the internet.  Sites like Rightmove and Zoopla offer sold prices down your street, can give you a worked out average value and even find comparable sold houses in similar streets nearby.  In short,  there is no hiding place when it comes to the numbers, and only the naive or dare I say it, dishonest estate agents will attempt to pad the figures in order to secure a listing with a homeowner. She was right to question their valuation, the nearest comparable sold price, which happened to be the next number up the street, went for less than 25% below the price the estate agent told her she would achieve. If she had signed up with this estate agent the property would still be on the market well in to next year, and unlikely to have had any viewings as it was not priced to sell.
Shortly after she got in contact with me, I went in to speak to her openly and honestly about what she could achieve, helped with some logistical issues and questions and we were able to agree a sale between us. This happy vendor will be moving on with her life and settled in her new home before Christmas, and I will be able to provide housing for another family.  It feels great to help people out.

House prices September 2014

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The house price index for last month was published by estate agency your move this week, here it is to keep everyone up to date on prices in the area, interesting reading for average prices in the East Midlands.

House Price Index Infographic – September 2014 [Infographic] by the team at Your Move

Mortgage affordability deteriorates for first time buyers

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I came across this article on the Zoopla blog page earlier today, interesting reading  for those believing the property market is on the increase,  first time buyers are still struggling with lending, showing it’s not so easy to grt on the property ladder just yet.
Here is where it is great that we offer rent now,  buy later options, helping people to move in to their first house right away, without the fear of borrowing from mortgage lenders stopping them from owning their dream home.

Article is below, if you would like to talk more about rent now, buy later, please feel free to get in touch with us. Details are on the ‘contact us’ page.

Amateur Investors

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I attended a local property related event this weekend, and one of the questions that came up was the question of becoming a professional property investor. I was asked about my journey into the business and more importantly what did I do to get started and make it a success.
The key word is professional. If you are treating it like a business you have to think like a business owner. This means making sure you are doing it right first time, making sure you know what you are talking about when people are turning to you for advice, and  you need to be properly educated. Of all the investments I’ve made in my property business, by far the most valuable one was in my education. Once you have the knowledge then you have the most important tool to make your business a success.
A lot of people I come across in the property business often look to ‘dabble’ in the market, to try it out and see how you get on. The dangerous thing here is that property mistakes can be very expensive mistakes. You are safer making sure you know what to do first.

Still helping people in Northamptonshire

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So we’ve been in business here close to 4 years now, and we still find ourselves helping people out in difficult situations with their properties. It’s wonderful to be able to help people out and find a solution to their problems and each time we do its amazing to still discover what passion we have for our work.
Our latest story is one of a lovely family in a house in one of the villages just outside Northampton.  They found themselves ready to move on and had an exciting plan to relocate abroad, after being on the market with a high street estate agent for nearly 5 months, a sale was agreed with someone who already lived in the village. After going through 3 months of the legal process, the buyer pulled out of the sale leaving the homeowners right back at the beginning, losing 8 months in the process.
We were approached through one of our private ads as they were tired of waiting to pursue their dream of moving abroad, and I was glad to say I could help them out. I arranged a quick sale with them and paid all their solicitor fees, while keeping them informed of the developments every step of the way. The great news for them is they will be moving on Friday and off to start their new life, it was just a few weeks ago that dream appeared to be one they couldn’t realise until sometime in 2015.
So roll on Friday then, one family will be ending a chapter in this property, moving on and starting an exciting new life, and we get the keys to a potential new home for another family to begin their story.

Repossessions hit 3 homes a day In Northampton

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Repossession levels hit an average of 3 houses every day in Northampton, with an average of 1 in 70 homes affected in the town in the last year. Signs are that despite the reports that the housing market is on the up, there are still a lot of people unable to meet their repayments and falling in to serious financial difficulty. The article published last month in the Chronicle and Echo states that it is among the worst areas in the East Midlands, but who are people turning to when they are in desperate need of help?
Repossessions should be a last resort, an absolute and final  step for people who have no one to turn to in their hour of need. At I buy houses in Northampton we believe it should never get to this stage, as it not only damages a persons credit for the future, but it causes huge amounts of distress and anxiety for them and their families.
We can help.
There are many solutions for preventing a repossession, and everybody’s situation is unique. What we are able to do is go through your circumstances privately and help you find a quick and easy answer to let you move on from the whole painful experience, even if you are on the brink of repossession.
If you are in a difficult position and are looking for help, or if you just want to know more, give us a call and we will happily talk further.

24 September 2014

You can find the article from the Chronicle and Echo here:

Welcome Back!

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Anna and Drew have been on maternity/paternity leave since the arrival of gorgeous baby Louisa in December 2012. We have had a blast over the last year but it is well and truly time that we appeared back on the property scene again here in Northampton.

What a great way to make our comeback than by having an offer accepted on a b*tch of a property in Far Cotton. It’s a Victorian terrace that has had one room cut out, turned into a one bed flat and sold off, thus making the whole property unmortgageable. Added to that, there are other “perks” such as terrible plumbing running from a ground floor WC, up into the first floor, across the house and back down and out. Or, the garden has been sold off and flats built so the property has no parking or garden. Priceless…

This is exactly the kind of property we love as most investors fall into two categories – “money to burn” investors wanting a ready to go house and happy to pay full market value and “below market value” investors looking for a deal. Neither want to park £100k+ into an unmortgageable property that needs work!

That is where we come in… This property may take some time to come back to us but we’re happy to wait.