Using the Internet to Find a Home.
Just a few years ago estate agents used to be the custodians of the property market, putting it bluntly you employed an agent because there was no other way of doing it!
Only estate agents knew exactly what was for sale, what price they had sold for and they had a long list of buyers and prospective tenants. Read more
Pensioners in Debt.
According to the English Housing survey by the Department of Communities and Local Government (DCLG) nearly 250,000 people over the state pension age have unpaid mortgage debt.
More than 1.3 million households aged 55 or over are still paying off their mortgage, which is the equivalent of 6 per cent of all households. Read more
Help to Buy Scheme Could be Exploited.
The new help to buy scheme is designed to help those who are unable to raise the large deposits that are now required to buy a property.
George Osborne, Chancellor of the Exchequer, says “the intention of the scheme is absolutely clear, which is that it is for people who want to get their first home, or for those who have a home and want to move to a bigger home”. Read more
A Lack of House Building.
Critics have claimed that this years budget lacks any real commitment to boost house building.
Dr. Neil Blake,head of EMEA and UK research at CBRE, a leading commercial property and real estate services adviser, said “what the economy needs is a new way of getting funds in to residential development, not just ownership”. Read more
Lenders U-Turn on Buy to let Benefit Stance.
It seems that recent restrictions enforced by some lenders on not lending to landlords in the private sector who let to people dependant on housing benefits will mean that these people will then need to turn to their local authorities in ever increasing numbers.
Therefore we can expect more stories of families being put up in hotels and bed & breakfasts for even longer periods all at a great cost and the taxpayer will increasingly be picking up the bill for this. Read more
Equity Release in 2013.
An industry report has recently warned that pension saving may need to be made compulsory in the near future.
The government are trying to stop people relying on the state to support them in retirement. Read more