Property Rescue Blog

The government started to roll out Home Information Packs, or HIPS, earlier this year and from 14 December the HIP will be compulsory for every home owner who wants to sell, regardless of the size of property or number of bedrooms.

The idea behind HIPS is that prospective buyers will have a degree of information at their finger-tips before they make an offer, but the scheme has been criticised heavily by many in the industry as being expensive, cumbersome and responsible for slowing down an already depressed market.  There is also concern that various aspects of the information provided in HIPS, such as local searches, will be out of date by the time the property is actually sold and will, therefore, have to be re-done by the purchaser’s solicitor.  Mortgage lenders and lawyers are unlikely to place reliance on information that might be several months or even close on a year old.

Nevertheless, the law is the law and sellers will have no choice but to comply with the regulations.  In brief, the Home Information Pack will contain the following:

• An energy performance certificate that will rate your property from A to G
• A statement of the terms of the sale
• Copies of the title deeds and any planning and building regulations consents
• Local authority searches, plus those relating to drainage and water

It is difficult to give an accurate indication of what a HIP will cost as they are still in their infancy and therefore subject to market forces.  Realistically however, home owners should expect to pay between £250 and £700 for a HIP to be prepared on their behalf.  One of the main problems seems to be finding an assessor to rate the property’s energy efficiency, as to date few assessors have been accredited in this relatively new specialism. 

Selling your home through Property Rescue will avoid the need to prepare HIPS as the sale will be classified as private.  This could save you up to £700 as well as avoid the necessity of getting solicitors involved before you even put your house up for sale. 
 
Property Rescue quote a price for your home that is the price you will receive; no deductions are made other than repayment of your outstanding mortgage or any loans you may have on your property.  There are no hidden fees, no legal fees on the sale, and no HIPS. 

Give Property Rescue a call to find out more.  They explain everything to you in clear detail and take care of the paperwork and legal necessities.  If at

With the property boom having come to a grinding halt, there has been a continual decline in inflated prices. From Newcastle to Manchester, and Birmingham to London, it seems no-one is clear from this slump.

Rumours have been circulating for a while now over the prospect of either selling your property to rent it back, or selling to move in to rented accommodation.

With the property market fluctuating, it seems smart to sell when the market is riding a wave, and buy once this boom has crashed. However, this takes serious knowledge of the property market and strong forecasting. Something perhaps better left to the experts.

This is because; you have to take in to account, the cost of moving (transportation / fees, etc) and the monthly rental fee. It is normally the case that a mortgage payment is lower than a rental payment, not to mention the fact that property prices will have to drop a reported 4% to make selling and renting worthwhile.

The gains from selling to rent can be huge, and have proven to save buyers around 30%. How? As the market has begun to fall, house owners have sold their property, moved in to rented accommodation, only to emerge back on the property ladder a few months later at a ‘discounted’ rate of around 30%.

Genius. Well it can be. The market can be futile, and unpredictable. For all the ups and downs we are subject to, property is genuinely a sound investment in the long term. Sit there long enough and you should be seeing a handsome profit. Nonetheless, I think we would all be happier if there were a way to lower our mortgage, move in to a bigger property, or simply increase the figure in the bank.

Selling and renting is building up quite a reputation for itself, and rightly so. There are however, some pitfalls of which you must be aware. Renting normally requires signing a minimum 6-month contract. If the market does suddenly rise, you may be a few months behind watching prices rise whilst you are contracted to rented accommodation. Naturally if you have the means to support both payments, then you could always rent whilst looking for a ‘bargain’ knowing that once one comes along, the deposit is happily waiting for you in your bank account.

Not only this, but we never truly know how long the slump will last, or whether it is actually a slump or just a slow down. As a result of this, it is important to understand the elements before subjecting yourself to them.

Buying and selling property involves a major decision, and for many of us it will be the biggest decision we ever make. If you see moving as an annoyance, and are not particularly optimistic about property prices, then perhaps think of other solutions – if you can find one. But, if you don’t mind the thought of moving twice, and have a view about where the property market will go, then perhaps selling and renting is for you.

It’s the question on every homeowners’ lips.  Just how far, and how fast, will property values fall and when will it all come to an end?   Let’s begin by taking a look back at the staggering change in the market we’ve seen over the past year or so.

Towards the end of 2007 only a tiny minority of financial commentators were forecasting a slump in the value of property but the New Year brought with it pessimism and – for the first time in many years – predictions that prices would fall.  At that time the fall was described as a mere levelling off, perhaps a 5% reduction; a theme that continued into the Spring.  But as Summer arrived that percentage became higher, with many banks, lenders and experts saying that the average home would drop in value by between 10% and 15%.  Bad enough, but still far from today’s forecasts of a 25% to 30% drop.

Respected property giant, Savills, is sticking with its analysis that property will have slumped by 25% from its peak at the end of 2009.  They point out, however, that in central London falls could be up to 30%.  On a brighter note, they do predict a slow recovery, which – they say – will be strongest in the South East and will begin in 2010. 

Nationwide Building Society confirms these fears, stating that it too expects house prices to continue to fall over the next two years.  The lender has greatly reduced the number of available mortgages as its pre-tax profits drop 18% over the six months to 30 September. 

It would seem, therefore, that there is little chance of imminent recovery and all the indicators point to the fact that house prices have yet to bottom out.  Whilst this remains the case, first time buyers are hesitant, waiting to see if they can get a better deal and negotiating hard with lenders for the few available mortgages.  Those most vulnerable are those who have bought over the past two to five years when prices were high and lending was lax.  Mortgages of many multiples of salary can spell disaster in a falling market as negative equity comes knocking at the door and job security is threatened.

In an uncertain market there is a certain way to avoid your home being repossessed and that is to sell to Property Rescue.  Their experts will give you a no obligation valuation for your home and although this will be below the current market value, it will – if you accept the offer – guarantee a sale.  If you delay, the value of your home is likely to fall further, so the loss you make on the sale needs to be weighed against the consequences of putting off your decision.  Anyone facing the threat of repossession will not have the luxury of time on their side and will need to act quickly. 

Property Rescue talk to their clients in complete confidence.  They recognise the stress that financial hardship engenders and will explain the process of buying your home in a straightforward way.  Remember, there is no obligation to proceed if you are not completely happy with the service they are offering.  Call Property Rescue today to find out more.

It’s the question on every homeowners’ lips.  Just how far, and how fast, will property values fall and when will it all come to an end?   Let’s begin by taking a look back at the staggering change in the market we’ve seen over the past year or so.

Towards the end of 2007 only a tiny minority of financial commentators were forecasting a slump in the value of property but the New Year brought with it pessimism and – for the first time in many years – predictions that prices would fall.  At that time the fall was described as a mere levelling off, perhaps a 5% reduction; a theme that continued into the Spring.  But as Summer arrived that percentage became higher, with many banks, lenders and experts saying that the average home would drop in value by between 10% and 15%.  Bad enough, but still far from today’s forecasts of a 25% to 30% drop.

Respected property giant, Savills, is sticking with its analysis that property will have slumped by 25% from its peak at the end of 2009.  They point out, however, that in central London falls could be up to 30%.  On a brighter note, they do predict a slow recovery, which – they say – will be strongest in the South East and will begin in 2010. 

Nationwide Building Society confirms these fears, stating that it too expects house prices to continue to fall over the next two years.  The lender has greatly reduced the number of available mortgages as its pre-tax profits drop 18% over the six months to 30 September. 

It would seem, therefore, that there is little chance of imminent recovery and all the indicators point to the fact that house prices have yet to bottom out.  Whilst this remains the case, first time buyers are hesitant, waiting to see if they can get a better deal and negotiating hard with lenders for the few available mortgages.  Those most vulnerable are those who have bought over the past two to five years when prices were high and lending was lax.  Mortgages of many multiples of salary can spell disaster in a falling market as negative equity comes knocking at the door and job security is threatened.

In an uncertain market there is a certain way to avoid your home being repossessed and that is to sell to Property Rescue.  Their experts will give you a no obligation valuation for your home and although this will be below the current market value, it will – if you accept the offer – guarantee a sale.  If you delay, the value of your home is likely to fall further, so the loss you make on the sale needs to be weighed against the consequences of putting off your decision.  Anyone facing the threat of repossession will not have the luxury of time on their side and will need to act quickly. 

Property Rescue talk to their clients in complete confidence.  They recognise the stress that financial hardship engenders and will explain the process of buying your home in a straightforward way.  Remember, there is no obligation to proceed if you are not completely happy with the service they are offering.  Call Property Rescue today to find out more.

It’s the question on every homeowners’ lips.  Just how far, and how fast, will property values fall and when will it all come to an end?   Let’s begin by taking a look back at the staggering change in the market we’ve seen over the past year or so.

Towards the end of 2007 only a tiny minority of financial commentators were forecasting a slump in the value of property but the New Year brought with it pessimism and – for the first time in many years – predictions that prices would fall.  At that time the fall was described as a mere levelling off, perhaps a 5% reduction; a theme that continued into the Spring.  But as Summer arrived that percentage became higher, with many banks, lenders and experts saying that the average home would drop in value by between 10% and 15%.  Bad enough, but still far from today’s forecasts of a 25% to 30% drop.

Respected property giant, Savills, is sticking with its analysis that property will have slumped by 25% from its peak at the end of 2009.  They point out, however, that in central London falls could be up to 30%.  On a brighter note, they do predict a slow recovery, which – they say – will be strongest in the South East and will begin in 2010. 

Nationwide Building Society confirms these fears, stating that it too expects house prices to continue to fall over the next two years.  The lender has greatly reduced the number of available mortgages as its pre-tax profits drop 18% over the six months to 30 September. 

It would seem, therefore, that there is little chance of imminent recovery and all the indicators point to the fact that house prices have yet to bottom out.  Whilst this remains the case, first time buyers are hesitant, waiting to see if they can get a better deal and negotiating hard with lenders for the few available mortgages.  Those most vulnerable are those who have bought over the past two to five years when prices were high and lending was lax.  Mortgages of many multiples of salary can spell disaster in a falling market as negative equity comes knocking at the door and job security is threatened.

In an uncertain market there is a certain way to avoid your home being repossessed and that is to sell to Property Rescue.  Their experts will give you a no obligation valuation for your home and although this will be below the current market value, it will – if you accept the offer – guarantee a sale.  If you delay, the value of your home is likely to fall further, so the loss you make on the sale needs to be weighed against the consequences of putting off your decision.  Anyone facing the threat of repossession will not have the luxury of time on their side and will need to act quickly. 

Property Rescue talk to their clients in complete confidence.  They recognise the stress that financial hardship engenders and will explain the process of buying your home in a straightforward way.  Remember, there is no obligation to proceed if you are not completely happy with the service they are offering.  Call Property Rescue today to find out more.

It’s the question on every homeowners’ lips.  Just how far, and how fast, will property values fall and when will it all come to an end?   Let’s begin by taking a look back at the staggering change in the market we’ve seen over the past year or so.

Towards the end of 2007 only a tiny minority of financial commentators were forecasting a slump in the value of property but the New Year brought with it pessimism and – for the first time in many years – predictions that prices would fall.  At that time the fall was described as a mere levelling off, perhaps a 5% reduction; a theme that continued into the Spring.  But as Summer arrived that percentage became higher, with many banks, lenders and experts saying that the average home would drop in value by between 10% and 15%.  Bad enough, but still far from today’s forecasts of a 25% to 30% drop.

Respected property giant, Savills, is sticking with its analysis that property will have slumped by 25% from its peak at the end of 2009.  They point out, however, that in central London falls could be up to 30%.  On a brighter note, they do predict a slow recovery, which – they say – will be strongest in the South East and will begin in 2010. 

Nationwide Building Society confirms these fears, stating that it too expects house prices to continue to fall over the next two years.  The lender has greatly reduced the number of available mortgages as its pre-tax profits drop 18% over the six months to 30 September. 

It would seem, therefore, that there is little chance of imminent recovery and all the indicators point to the fact that house prices have yet to bottom out.  Whilst this remains the case, first time buyers are hesitant, waiting to see if they can get a better deal and negotiating hard with lenders for the few available mortgages.  Those most vulnerable are those who have bought over the past two to five years when prices were high and lending was lax.  Mortgages of many multiples of salary can spell disaster in a falling market as negative equity comes knocking at the door and job security is threatened.

In an uncertain market there is a certain way to avoid your home being repossessed and that is to sell to Property Rescue.  Their experts will give you a no obligation valuation for your home and although this will be below the current market value, it will – if you accept the offer – guarantee a sale.  If you delay, the value of your home is likely to fall further, so the loss you make on the sale needs to be weighed against the consequences of putting off your decision.  Anyone facing the threat of repossession will not have the luxury of time on their side and will need to act quickly. 

Property Rescue talk to their clients in complete confidence.  They recognise the stress that financial hardship engenders and will explain the process of buying your home in a straightforward way.  Remember, there is no obligation to proceed if you are not completely happy with the service they are offering.  Call Property Rescue today to find out more.

The dramatic 1.5% cut to base rates announced by the Bank of England last week has been welcomed by business, industry and homeowners.  Yet despite this fall in interest rates and the money that has been pumped into the banking system by the government, there is still a shortage of mortgages for first time buyers.

The approval rate for new mortgages has slowed substantially over past months.  Around 57% less mortgages are being approved than at this time last year.  The figures hit rock bottom in August when just £2.1 billion was put into new loans – the lowest amount since 2001.

In the main, banks and building societies appear to be passing on last week’s bank rate cut to its borrowers – at least in part.  But mortgages that benefit from falling rates, such as tracker deals, are in short supply, and new borrowers are expected to find a hefty deposit before lenders will consider their mortgage application.  The nervousness and uncertainty that overshadows the housing market makes it difficult to be optimistic.  Many analysts predict that the next two years will produce further falls in property prices with only a slow recovery in market activity.

Estate agents have borne the brunt of many a sarcastic comment during the rich pickings of recent good times, but they are suffering more than most at present.  The RICS (Royal institution of Chartered Surveyors) reports that on average estate agents sold under 11 homes during the quarter August to October this year – the lowest level since the RICS began keeping statistics back in 1978.  Agencies that expanded to meet the demand of a bullish market are now having to lay off staff or close branches to cope with the sudden downturn.

Anyone wanting to sell their home is at the mercy of what has become a global economic crisis.  An all pervading feeling of helplessness has engulfed vendors as they simply wait, hands tied, to see what the future will bring. 

Property Rescue provides a way of selling up and moving on despite current economic uncertainty.  The offer is simple and straightforward with no hidden extras to pay and no obligation to proceed.  Advice is free and confidential, and you can talk to an expert about your circumstances and your property.  If you accept Property Rescue’s offer for your home, the sale can proceed swiftly without the possibility of collapsing at a later date.  You can be assured that your sale will go through, leaving you free to start planning for the future.

For details and a free, no obligation chat, contact Property Rescue today.

For whatever reason you are renting a property, there still remain criteria for you to follow. Naturally the criteria change depending on the reason behind your decision to rent, whether it be for a home, for an office, or for an investment. None-the-less, before you sign that contract, there are decisions that need to be made.

First and foremost you need to work out a realistic budget. Without a clear budget, you cannot know where to begin, as knowing what you can afford prevents future problems arising. The budget should depend on what you earn as an individual or a collective. Always remember however, that there are additional costs in living, such as bills, that will need to be paid on a monthly basis. Dedicating a proportion of your earnings to these will give you a more realistic idea of what you can afford.

Location, location, location. We have all heard the saying, and to be honest it could not be truer. The perfect property is only perfect if it is in the right location. One’s dream property (physical building) could be severely hampered by the location, for example, local transport, amenities, safety, etc. Depending on your needs, the location of your property can vary whilst renting; schools, transport, shopping, religious buildings, amongst others, are all examples of factors deciding a location.

Parking is another major issue while renting. Commonly, rented accommodation is within blocks of flats or within streets of terraced houses. Similarly, rented accommodation can frequently be close to shopping centres or train stations for example, in which case (free) parking can be limited. Various areas, especially around the London commuter belt, can propose greater problems with restricted parking zones a regular practice.

Another point to remember when renting is your time frame, i.e. when do you want to move in, and what length of contract are you looking for. Rented property can vary in these instances, so as long as you set a realistic time frame (thus expanding your search) you can begin looking. A minimum 6-month contract is the norm in rental agreements, and you can choose between furnished and unfurnished properties.

Renting can be a great option for anyone. Whether it is short term or long term, renting can provide the independence and flexibility one is craving. Although there are generally factors to consider, and rules to follow, renting can be an exciting solution!

Just remember to set yourself realistic budgets for living, social life, food and transport costs, and enjoy.

The dramatic 1.5% cut to base rates announced by the Bank of England last week has been welcomed by business, industry and homeowners.  Yet despite this fall in interest rates and the money that has been pumped into the banking system by the government, there is still a shortage of mortgages for first time buyers.

The approval rate for new mortgages has slowed substantially over past months.  Around 57% less mortgages are being approved than at this time last year.  The figures hit rock bottom in August when just £2.1 billion was put into new loans – the lowest amount since 2001.

In the main, banks and building societies appear to be passing on last week’s bank rate cut to its borrowers – at least in part.  But mortgages that benefit from falling rates, such as tracker deals, are in short supply, and new borrowers are expected to find a hefty deposit before lenders will consider their mortgage application.  The nervousness and uncertainty that overshadows the housing market makes it difficult to be optimistic.  Many analysts predict that the next two years will produce further falls in property prices with only a slow recovery in market activity.

Estate agents have borne the brunt of many a sarcastic comment during the rich pickings of recent good times, but they are suffering more than most at present.  The RICS (Royal institution of Chartered Surveyors) reports that on average estate agents sold under 11 homes during the quarter August to October this year – the lowest level since the RICS began keeping statistics back in 1978.  Agencies that expanded to meet the demand of a bullish market are now having to lay off staff or close branches to cope with the sudden downturn.

Anyone wanting to sell their home is at the mercy of what has become a global economic crisis.  An all pervading feeling of helplessness has engulfed vendors as they simply wait, hands tied, to see what the future will bring. 

Property Rescue provides a way of selling up and moving on despite current economic uncertainty.  The offer is simple and straightforward with no hidden extras to pay and no obligation to proceed.  Advice is free and confidential, and you can talk to an expert about your circumstances and your property.  If you accept Property Rescue’s offer for your home, the sale can proceed swiftly without the possibility of collapsing at a later date.  You can be assured that your sale will go through, leaving you free to start planning for the future.

For details and a free, no obligation chat, contact Property Rescue today.

The dramatic 1.5% cut to base rates announced by the Bank of England last week has been welcomed by business, industry and homeowners.  Yet despite this fall in interest rates and the money that has been pumped into the banking system by the government, there is still a shortage of mortgages for first time buyers.

The approval rate for new mortgages has slowed substantially over past months.  Around 57% less mortgages are being approved than at this time last year.  The figures hit rock bottom in August when just £2.1 billion was put into new loans – the lowest amount since 2001.

In the main, banks and building societies appear to be passing on last week’s bank rate cut to its borrowers – at least in part.  But mortgages that benefit from falling rates, such as tracker deals, are in short supply, and new borrowers are expected to find a hefty deposit before lenders will consider their mortgage application.  The nervousness and uncertainty that overshadows the housing market makes it difficult to be optimistic.  Many analysts predict that the next two years will produce further falls in property prices with only a slow recovery in market activity.

Estate agents have borne the brunt of many a sarcastic comment during the rich pickings of recent good times, but they are suffering more than most at present.  The RICS (Royal institution of Chartered Surveyors) reports that on average estate agents sold under 11 homes during the quarter August to October this year – the lowest level since the RICS began keeping statistics back in 1978.  Agencies that expanded to meet the demand of a bullish market are now having to lay off staff or close branches to cope with the sudden downturn.

Anyone wanting to sell their home is at the mercy of what has become a global economic crisis.  An all pervading feeling of helplessness has engulfed vendors as they simply wait, hands tied, to see what the future will bring. 

Property Rescue provides a way of selling up and moving on despite current economic uncertainty.  The offer is simple and straightforward with no hidden extras to pay and no obligation to proceed.  Advice is free and confidential, and you can talk to an expert about your circumstances and your property.  If you accept Property Rescue’s offer for your home, the sale can proceed swiftly without the possibility of collapsing at a later date.  You can be assured that your sale will go through, leaving you free to start planning for the future.

For details and a free, no obligation chat, contact Property Rescue today.