Paying your mortgage off early – the pros, cons and pitfalls

Paying your mortgage off earlier than expected could be one of the biggest investments you ever make. You can be rid of your biggest debt fast, free yourself from ties to the mercy of the varying property market and put all the money you are no longer paying out to better use. With inflation and the base rate both low, we reveal why you should be thinking about overpaying on your mortgage obligations…
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New proposals made by the Bank of England aim to prevent housing boom

Proposals made by the Bank of England, including a cap of 15% on the number of mortgages that lenders can give to people who want more than 4.5 times their salary, are being recommended to prevent another housing crisis…

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Local Authorities Escape Hefty Resource Drain as Court of Appeal rules on Homelessness

The Court of Appeal have provided an important ruling in the case referenced above, in which the appellant applied for protection under Part VII of the Housing Act 1996 as homeless and was granted it, without priority status. When appealing the priority aspect, Hackney declared that the appellant was no longer homeless – a decision which she has taken all the way to the Court of Appeal…

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Supreme Court gives Preliminary Ruling on Monk Evictions

The Supreme Court is reputedly set to reject a challenge to the rule in Monk on notices to quit given by joint periodic tenants. The case referenced above saw a seven-judge panel hear a challenge to the 1992 ruling from a man left stranded in a property after his wife terminated the joint tenancy and left him. We look at the challenge, which asked what impact, if any, the European Convention on Human Rights might have…

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The Property Market Monthly Fact File – July 2014

The property market fact file is a collection of data compiled each month by our Chartered Surveyors and the propertysurveying.co.uk team; collating survey data, statistics, trends and information from the property market. This aims to provide a single place where anyone with an interest in UK property can find the information they need.

To read the monthly fact file, click here.

A Tale of Two Countries

There has been much publicity over the last month regarding the state of the booming Luton Bedfordshirehousing market. When closely analysed, however, the housing market itself has seen remarkable internal differences; with mild to modest increases in the vast majority of the country and the affluent South East surging ahead. The differences are sufficiently pronounced almost to suggest a tale of two different countries, rather than different areas within the same economy. What then can be done to rebalance this differential and bring the two halves of a broken country back into a single whole?

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Rejuvenating Britain’s High Streets – What is the secret?

The state of Britain’s High Streets and their recent trend towards decline has been a topic of concern for many British stakeholders over the last few years. Whilst economic fortunes are improving, the success of the internet and out of town shopping centres are Cardiff - Keith Battenstill major threats. We look at a report which has recently identified the secret to rejuvenating a British high street and the views of expert Mary Portas following her recent study into the area…
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Whole idyllic village in South Devon put up for sale for £11.5m

After a year of speculation, the idyllic village of Bantham, South Devon has been put on the market for offers in excess of £11.5 million, causing many residents to fear for its future. With a price tag that high, it seems unlikely that too many British buyers will be interested…

Kingsbridge, Devon
Kingsbridge, Devon.

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In case you missed it…..

In case you missed it: Two Stars anger neighbours by carrying out works that are often regarded as needing no planning permission.

Yorkshire - Cottage

Planning permission is often misconstrued as only being associated with buildings and houses, but as an ex-Bond girl and current England footballer found out it can include the felling of trees and play areas for kids…
To read the whole article, click here.

Not the best news for property buyers..

Recent figures have shown that you will need a salary of nearly £40,000 to be able to afford a mortgage.

The average person takes out a mortgage loan of £119,000 and if you consider that the national average salary is only £26,000, repayments can cause financial difficulties.

This isn’t great news for first time buyers and people who want to get themselves onto the property ladder. Looking at how the economy is at the moment where you can’t even live on the national minimum wage, getting a mortgage is looking impossible.

However, there are certain schemes like the Help To Buy Scheme which has been highly credited recently as this is helping a lot of first time buyers step onto the property ladder. With a deposit of 5% this is perfect for everyone who is struggling to make that step.

‘The Government has created the Help to Buy scheme to help hard-working people like you take steps to buy your own home. Whether you want to get onto the housing ladder or move up it, Help to Buy makes it possible to buy a new-build or existing home priced up to £600,000 with as little as a 5% deposit’. – See more at: http://www.helptobuy.org.uk/#sthash.0QIuZcrG.dpuf/

If you are a first time buyer and are looking for a surveyor, please have a look at our website and find your local surveyor – www.propertysurveying.co.uk