How to find ideal house to buy in UK?

You may need to purchase a new home or invest in one or two properties for long term or you may need property for its rental yield and there is no better place for you to do this than in UK. There are properties for any type of people and according to their needs and preferences. For instance you may wish to have a full house in the midst of a city or a slightly secluded place while others may want an apartment so that they can have a bird’s eye view of a city. Again, there are people who want homes to make it their residence while there are others who wish to have a yield from it in the form of rent. The best way to decide is to visit some of the below given online platforms according to your needs.

Online websites for house hunters

  • findukproperty.com – This is a unique platform for those who wish to have homes from 55 K pounds upwards and they have numerous such homes if you simply click with your mouse. They mainly cater to overseas investors who wish to invest in properties in the long run and also earn rentals on them. You may simply enter your price range and with the help of a map pinpoint the location that is mainly for London.
  • rightmove.co.uk – These are among the top market leaders in UK as far as properties are concerned. You get numerous choices here as they cater to almost anybody and from anywhere.
  • zoopla.co.uk – Like the right move the zoopla too are market leaders having thousands of homes and apartments for outright sale purchase or rentals. They have numerous choice of locations and you may simply contact them for your need for a home of your dream
  • primelocation.com – If you want a decent looking home and in a prime location then you may choose this site for your house hunting. The site has numerous pictures of homes and you may either purchase or sell with ease.
  • findhood.com – This is yet another wonderful site and unlike the top ones you will not find hundreds and thousands of properties, but you may choose them expecting personalized service. You will not have to wait in queue for long here.
  • peropertynetwork.com – This website may be accessed through Facebook and there are several unique properties that you may like as well as the usual likes and dislikes from Facebook users. The website uses your information via Facebook and perhaps establishes the authenticity of the source and analyzing future prospects.
  • watersideproperty.com – This site is especially for people who love to reside near to sea, lakes, river and canals. The site has pictures of affordable to expensive homes that you may purchase as a long term investment option or for giving it for rent.
  • propertysnake.com – This is a unique site and largely meant for clients who want to purchase properties that have had their rates cut in different areas or regions in UK.

Buy-to-let Property Investment

Looking for an investment method better than a bank saving? You should give a try to buy-to-let investment method. In simple it is the process of buying a property with the sole motivation of renting it or letting it out. In United Kingdom buy to let rate stands around 5 to 10 percent depending on the location and the property type. There has been a dramatic increase in the rent pries due to the flat rates of the average properties. As a result of that many investors have recognized buy to let as a beneficiary investment and the number of investors in the property sector have also increased.

In the past people planned to a buy a small house for a payment scheme of 25 years. After 25 years they tend to rent it out and use that money as a pension plan. This trend has changed in the past few years due to the emergence of private landlords. These landlords tend to rent out properties in large scale. However the buy to let trend has not changed drastically. If you intend to invest in such buy to let property you don’t need to have a large sum of money. If you are tactical, you will find ways to invest in this sector without having a large sum of money in hand.

You can borrow money and invest in a buy to let property. This is a riskier approach in many ways. Even though the mortgage rates have recorded an all-time low, it is likely to rise in the upcoming years at a considerable pace. Rents are already at a higher level and this makes it tough to raise the rent even if there is a rise in the mortgage rates. If you are not careful you will be suffering a huge loss from borrowing and investing. It is essential to make sure that there are sufficient provisions to cover up the mortgages without raising the rent if you are desperate in borrowing money for investing in such a property.

If you have a benchmarked price in your mind for the rent, you must wait until the rent prices reach that target level. Don’t be in a hurry and rent your property at a lower rate. You won’t be able to raise the rents as soon as there is an increase of overall rent rates. It all depends on your timing. If you time well, you will earn profits and if you mistime, you definitely will suffer a loss. Don’t count too much on the chances of raising your rent as soon as there is a price fluctuation. Instead wait till the price rises up to your margin and then rent your property out. In order to have the maximum yield you need to dedicate some of your valuable time. Keep your property renovated, refurbished and add value to your property. All these will definitely increase the rent of your property.

Properly insuring the property is also a must for landlords, otherwise it will lead you to disastrous situations like property destruction. It is not a new thing. That has happened in the past. So make sure that you insure your property and comply with the legal requirements.

This investment method is risky. If you find the correct path, you will definitely gain the benefits. So make sure that you consider all the aspects properly before stepping in to buy to let investing.

About Buy-to-let Mortgages

Buy-to-let mortgages, as the name suggests, are simply mortgages meant for people or landlords who buy a particular property or properties just to rent out. Buy-to-let mortgages are normally more expensive than normal mortgages. They however can help one a great deal in doing property investment and becoming a property investor. However, since investing in property can be risky, so a buy-to –let mortgage is not advisable for risk-averse people. These mortgages are most suitable for people looking at investing in flats and houses. Even if an investor can afford to do an investment in property downright, there are tax advantages available to a landlord using a mortgage, as their interest can be offset against the tax on the rental profits.

How to get a buy-to-let mortgage

Having your self-owned home for getting a buy-to-let mortgage makes the process much easier. Having a good and clean credit record also helps greatly. It is also important to not have too many and too stretched borrowings like an outstanding mortgage or on your credit card. Getting a buy-to-let mortgage with earnings less than £40,000 is also harder. Lenders of buy-to –let mortgages usually have their own upper limits of age. This is usually seventy to seventy five years of age. This is the oldest one can be when the mortgage ends.

How do buy-to-let mortgages work?

Usually buy-to-let mortgages are more or less like any other mortgage. They do, however, have a few main differences:

  • The primary source of income of the lender is usually the rent
  • The interest rates on buy-to-let mortgages are usually higher.
  • The fee on these mortgages is usually also higher.
  • The minimum deposit required to get a buy-to-let mortgage is usually twenty five percent of the property’s value. This can also vary from twenty percent to forty percent, depending upon the lender.

Most of these mortgages are interest-only buy-to-let mortgages, where only an interest is required to be paid and nothing from the lump sum borrowed is required to be paid each month. At the end of the term of the mortgage however, the full capital sum is obviously required to be paid back. The amount that can be borrowed depends upon the lender.

Most of the market for buy-to-let mortgages is unorganized and these mortgages are not regulated by the Financial Conduct Authority. It is advisable to speak to an independent broker while looking for a buy-to-let mortgage. These brokers can provide you the best information on deals available and can also help you choose the one most appropriate for you. One should also, however, do one’s own research beforehand.

Buy-to-let have of course also helped lenders greatly, who have benefitted not only from the growth of house prices, but also from low mortgage and interest rates. This has made financing purchases of property much easier and they are able to earn a good income and also get a good profit from a sale.

Read also this useful article about best mortgage deals.

Some Tips on How to Buy That Dream House

Every man has the dream to buy a house and raise a family in it. While some desire to build it themselves, others would not mind buying the right one on sale. However, to buy the right house at the right price you would need to know the things to do while buying a house. Here are a few things to do before you put the money down for your new house.

Make sure your Credit Rating matches up

If you are going to get a housing loan for the purchase, you have to keep in mind the status of your finances and your credit rating up to a year before you make the purchase. Make sure you keep your credit card balance as clean as possible. If you plan to make a new big ticket purchase, you have to plan it into your budget and finances as early as possible. Also, think about getting pre-approved for the loan and talk to a few potential finance houses. A little work on your part beforehand will make sure you get the desired financial loan when you are buying property.

Read also: London property prices to grow over 20% in 2016

Make sure you know the limitations of the area

Take a closer look at the property and get a property map drawn up. Know the neighbours and if possible any disputes regarding the property before buying property. It is also a very good idea to roam around the neighbourhood and find out what it feels like in the morning, in the evenings and at night. Know the schools nearby and the school bus route. Do the same for a hospital and the grocery stores. It goes a long way in making sure you know the neighbourhood beforehand and have no surprises spring up at you.

Get a professional evaluation of the property

It is also a very good idea to get a third person’s account of the property and I don’t mean a friend. It will cost you few hundred dollars but it will make sure that you get an honest report of the house including the hidden flaws and the problems that you have not been able to find out. Not only it will potentially save you thousands of dollars later, it also will save you from potential trouble later.

Get a property based on your needs

Although everybody likes a big house and big houses do have their advantages, a really big house also may cause trouble later on. A really big house is high on maintenance apart from being hard to resell. The number of potential buyers for a very big house is always less. Also, the re-sell value is also not high compared to a smaller yet reasonably priced house. Also, the sleeper costs of a bigger house will be higher and avoid sleeper costs which will end up from your pocket eventually. Plan it in advance and you will have the dream house which will be cost effective yet easy on you. Do not be emotional, be reasonable.

These house buying tips have been helpful to you, I hope.

How to Make Money by Investing in Properties

Are you planning to make a property investment in the UK? Do you wish to make money by investing on properties? If yes, you are making a wise decision. In the long run, property investments can confer you with better return on investment. In this short write up, you will read on how to make money by investing in properties.

Long term rental properties can involve lots of upfront investments and cash. However, if you are patient and well-planned, you will witness incredible returns. In fact, successful realtors make more than 20% cash returns in the long run, without equity pay down, appreciation or tax rewards.

Method #1 – Fix & Flips

Fix & flips is an enticing way of making money. Since late 1970s, fix & flips have made many successful realtors. During these sessions, properties are sold to strangers. Most fix & flippers tend to save more by repairing themselves. This saves a lot of money on each property.

Method #2 – Whole Sale Investments

Wholesaling properties is another way of making money from property investments. During wholesale ventures, investors should buy properties/homes under a predestined contract. The home is immediately sold to another buyer or investor without much change. Most investors make lots of money by wholesaling properties.

There is a great eBook on this topic: “How To Wholesaling Properties” written by Smart Lazy Investor.

Method #3 – Through Private Residencies

Do you know that you can make money with your own private residence? Well, this is a tacky way of making cash! For instance, you can buy a property for 50k GPB and sell it for 55k GPB. This will give you a profit of 5k GPB. Conversely, you should pull together a sell property portfolio with a list of all rental assets.

It’s even possible to invest in properties with only £1,000 according to Hugh Hutchinson.

Method #4 – Long Distance Property Investments

Over the past few years, long distance property investments have become a way of making hefty incomes. Long distant property investments are famous amongst UK-based investors and realtor companies. Just like many other techniques, potential realtors invest hundreds to several thousand dollars on properties that are several miles away. However, you should work with the right kind of property managers and people for a sturdy ROI. Likewise, here are few important factors you should focus on for higher returns:

  • The Right Location – Make sure you hand pick the right location. A successful investor would have a flourishing sell property portfolio. He would meet and spend money on an idealistic location.
  • The Right Agent – Sometimes, you should opt for a reliable realtor. Most realtors have successful investment strategies. If you wish to invest on properties that are far away, you must hire a great agent.
  • The Right Property Manager – Thirdly, you must get hold of a good property manager. Skilled property managers know the thin line between disaster and profit.
  • The Right Property – It is quite interesting to note that the right kind of property should be chosen at the right time! And, this is a difficult job that requires practice. While choosing properties you should make sure it meets with the needs of potential buyers and is of great

Read also: How to get your Home Sold off Fast so you get Instant Cash?

How does House Repossession Work?

Are you worried about house repossession? Do you wish to stop repossession in the long run? According to experts, you should understand about house repossession to avoid it! And, if you are totally unsure of its nicks and knacks, you must acquire help from an experienced professional who know how to work on repossession legally. Generally, there are two different ways by which you can handle house repossession. Firstly, you should come in touch with the lender and resolve the entire situation. Or, you must request for more time from the lender. The process is easy said than done. At all times, you should be careful with the total number of arrears you should pay. Also, the step by step routine should be carried out in stages. So, how does the repossession process flow? The next few lines will give you a quick account on this.

Step One – Acquire Help from Lender

As mentioned previously, you must start with the lender. A notice should be obtained from the lender. The notice serves as a legal document that will give you an account of all the arrears you have. It will state how much money has to be paid back to the lender. Usually, the arrears would be a huge amount that should be handled carefully. In case you have existing arrears that are not cleared, your lender would take legal steps on repossession of your property. During this phase, you will require some help from the lender. Always bear in mind that the entire process can get very legal.

Step Two – Obtain the Order

During step two, the order of repossession comes into play. In this legal statement, the lender would request for the repossession plan. This will become extremely important if the lender requires assistance of the court. Conversely, the lender will provide you with house repossession help when you wish to stop repossession. At all times, court orders will aid you in stopping repossession at a better rate.

Step Three – The Hearing Phase

Thirdly, a summon would be sent. You should visit the court to complete the hearing phase. At all times, the hearing date and routine would be announced by the judge involved. You can opt for house repossession assistance even during this stage. However, you must acquire help as early as possible. The hearing will help you learn more about the property’s current status.

Step Four – The Final Stage

Moving on, you should accomplish the final stage of the repossession. If your property is repossessed, you must vacate or leave it before the predestined date. This date is known as the eviction date. During this time, the judge has the required rights to send you out. To avoid such complications, you must work in line with the formal procedures. Meanwhile, you must think several times before coming to this point. When things become extremely critical, you should obtain help from experienced personalities. The professionals will make sure the house repossession process is terminated (or executed) without any glitches.

An Experienced Property Consultant.