After the strong price rises in the first half of 2014, investing in central London property started to look less appealing for many investors. Popular areas like Pimlico, Westminster and The City saw yields drop sharply as purchase prices continued to increase and rents fell by up to 10%.
The difference between success and failure in securing a great London property is sometimes due to doing the smallest of things. Doing the following, if you have not done so already, should at the very least put you in the strongest position possible to find a great property.
If you are buying a property in London, the likelihood of you bidding against multiple buyers on the same property is high. Sometimes as many as five or six other parties – especially when stock levels are low and the number of buyers high – which tends to be majority of the time.
In April this year the government launched part one of the Help to Buy scheme, which aims to assist buyers purchase a new-build property by boosting their deposit by as much as 20% of the property value.
Whereas previous schemes assisted first time buyers, this scheme is open to current homeowners,
The Bank of England (BOE) interest rate has been set at 0.5% since March 2009. Borrowers have become accustomed to low-rates – which are great if you have a mortgage or want to get one.
With the average mortgage product hovering around 3% (2.5% above base rate), there is a concern
Residential property investment for the part-time investor has grown exponentially since the Housing Act of 1988 and arrival of Assured Shorthold Tenancies (AST’s). Without getting into the boring technicalities, AST’s allowed property owners to evict tenants. Before this, tenants had the right to stay