Sell Your Property Quickly to Get Rid of Financial Difficulties

The tough economic conditions, rising unemployment level and increasing debt has put a number of property owners in a financial mess. This is especially true in the case of first time home buyers. Now, if you are caught in a similar situation and are facing severe financial difficulties, then it is time that you searched for reputed property buyers who are best positioned to offer a quick property sale.

You need to understand that it is not easy to sell your property, specifically when you need a fast home sale. While you do have the option of hiring an estate agent, there is a very high chance that the agent would demand a hefty price for selling your property. This could upset your entire plan of getting a quick property sale as you would not be able to save enough money for yourself after paying the due mortgage repayments amount and settling all your other debts. This is precisely why you need to identify professional property buyers who can instantly hand over cash to you. The biggest advantage of contacting these property buyers is that they will pay you a decent price for your property i.e. in accordance with the prevailing market price. Besides, when there is a very high chance of your house being repossessed, then no other individual or entity can provide you with quick cash, but solely the property buying companies.

Property purchasing companies are registered with the Financial Services Authority and also sign a code of conduct with the government agencies. What this means is that if you deal with them, then your property is completely safe and they wouldn't be able to mishandle either your property or related transactions in any which way. Now, doesn't that sound nice especially when you have always wanted a fast home sale.

Once you have consulted a reputed property buyer, the first thing that they would do is send a local expert to visit your house and carry out a free property appraisal. Post the appraisal, they will discuss a suitable value/price for your property and then either purchase your property instantly or identify potential home buyers who are in a position to invest in your house instantly.

Remember, once all the legal formalities are over and contracts have been duly signed, you will get enough cash in your hand that will help you get rid of your financial difficulties. So, if you really want to put an end to your finance related miseries, then it's about time that you consulted a good property buying company.

Factors Affecting UK Property Market - Think Before You Sell

Everything that is related to the property market is in a state of mess currently. Whether it is figures pertaining to new home building or mortgage lending or even property sale, almost everything is on the decline. The soaring property prices are making things all the more difficult for property buyers. In fact, according to the latest figures shared by property experts and analysts, the average property price now stands at £204,981. In the wake of economic instability, it will only get difficult to hunt for potential property buyers. Read further to find out what has caused the property market to turn gloomy and why you shouldn't consider a quick property sale at the moment.

Rising Unemployment

As far as the UK unemployment level is concerned, it is at an all time high. The unemployment figure in the UK has increased from 2.57 to 2.6 million for the months of October to December 2011. The fact that people are not sure whether their job is secured or not and it is further causing them to lose their self-confidence. This in turn is affecting their buying decision as they do not know whether they can afford to buy a house or not. Therefore, if you are looking for a quick property sale, you will have to wait for the right time or sell your property for a lesser value that the prevailing market price. Those who need a fast home sale are not finding the right kind of buyers and the couple of buyers who are showing a certain amount of interest are not committing when it comes to buying property. More and more property buyers are claiming for job seeker's allowance and this year will be no different as it will bring more financial concerns along with it.

Uncertain Mortgage Outlook

People who are buying property for the first time are not getting mortgage from lenders. In fact UK's gross mortgage lending stood at £11.7bn in the month of December 2011. Given that a mortgage is not available easily, even home builders are finding it difficult to construct new homes and buildings. On the other hand, even the scenario around mortgage payment is not too good. More and more people are facing problems in paying their monthly bills, simply because they have lost their jobs or their financial position is not too good. Therefore, unless home builders, mortgage lenders and government do not come together to devise an insurance scheme, the existing mortgage situation will only discourage buyers and those who need a fast home sale.

The best way in which you can achieve a quick property sale is by consulting professional and expert property dealers and estate agents. They can offer assistance, guidance, advice and can consultation that will give you the perfect opportunity to garner the best price for your property.

UK Property Market Is On The Rise, But Is Now The Time To Be A First Time Buyer?

Although the housing market remains a little sluggish, to say the least, a report by the Royal Chartered Institute of Surveyors (RICS) suggests that 2013 is showing signs of a little movement in the right direction. If you're considering moving in a new direction yourself this year, what are the prospects and is 2013 a good year in which to become a homeowner for the first time?

The Big Deposit and the New Buy Scheme

For most first time buyers the biggest problem is finding the deposit. The government has introduced a number of schemes to help in recent months aimed at stimulating growth in both the housing and construction industries which are both considered vital to a more robust economic recovery. The additional help now available could make 2013 an excellent time in which to get your foot on that well-known ladder. The latest scheme, the New Buy Scheme, is designed to help those buying newly built homes. However, the terms of the scheme mean that not only will the property itself have to fit into the right category but you'll need to find a lender who is currently part of the scheme. Currently these include Nationwide, NatWest and Barclays, although more big names are due to join soon.

Who Does the Scheme Really Help?

You'll still need to be able to afford a five per cent deposit on the property and only homes up to a value of £500,000 will be eligible; some lenders have different criteria but this is the maximum. Effectively the government is offering a guarantee to lenders that allows them to offer ninety five per cent mortgages by underwriting the loan, should the purchaser not be able to keep up repayments and the home be repossessed. Many commentators have argued that the scheme benefits lenders far more than would-be homeowners and the important things you should consider before buying under the scheme remain the same as with any house purchase. What will happen if you lose your job, a family member dies, you divorce or will you be able to afford an interest rate rise? Interest rates are at a long term (and notoriously low) rate at the moment, but as we all know, they can very definitely go up, as well as down.

The Verdict

The New Buy Scheme is certainly a useful way to access a ninety five per cent mortgage but offers the lender more security than the buyer. Currently the housing market is sluggish and while prices may not fall much further (they're down by an average of eleven percent on 2008) there is no guarantee they'll rise anytime soon. Ensuring that you are confident that you can continue to make payments on a mortgage is the primary consideration to take if you're buying in 2013. The New Buy Scheme may help, but it doesn't mean you're getting a discount or special price on the property or that you aren't ultimately responsible for keeping up repayments. As with any house purchase, it seems that 'buyer beware' will continue to apply.

What Are Capital Allowances on UK Property?

Both companies and individuals buying, improving or leasing commercial property may be eligible for capital allowances on the aforementioned assets; indeed it is almost impossible that an operational commercial property would not have some claims to make.

To be eligible these must be durable assets (with an expected life of more than two years - or else they qualify as consumables) which are not part of the premises themselves, that is to say they are the tools used to conduct the business rather than the structure housing it. It is important to note that these must actually be used in the business. For instance, if you were to buy a factory with existing refrigeration plant but the business you conducted within the building had no need for it; you would not be able to make a claim against it.

Nevertheless there are many things that are eligible for the allowance, these include...

• Vehicles
• Large tools
• Machinery
• Furnishings
• Furniture
• Electrical goods
• Computing and telecommunications equipment
• Safety and security equipment
• Bathroom equipment (baths/sinks etc.)
• Software with a working life of more than two years
• Swimming pools
• Storage equipment

There is a second category which includes:

• Inefficient cars (160g/km or more CO2 emissions)
• Power supply systems
• Water supply systems
• Lifts, escalators and people movers

With the exception of the cars the things falling into this second category are known as integral features. The difference between these categories shall be explained shortly...

The way that capital allowances work is that once the value of the assets has been quantified then they may be claimed back at the writing down allowance of 20% (falling to 18% from tax year starting April 2012). What this means is 20% of the remaining allowance can be claimed every year. So an allowance of £20,000 would allow you (at the 20% rate) to claim £4,000 the first year, £3,200 (which is 20% of the remaining 16,000) the second year and so on. The aforementioned second category (integral goods and cars) is slightly different in that it qualifies for a lower writing down allowance of 10%(falling to 8% from tax year starting April 2012). The effect of this is that it takes longer to claim the whole allowance.

So to sum up, capital allowances are an easy yet surprisingly little known way to reclaim your money from HMRC. If you think you have some relevant claims then a capital allowance consultancy such as Property Capital Allowances could despatch a qualified surveyor to identify and quantify claims. Then, after contacting your accountant, you would reclaim your money from the treasury.

The Successful Landlord: Analyzing a Rental Application to Choose the Best Renter

While your prospective renter is filling out the application, take a look at their driver's license when they pull it out to write down the number. You want to verify positive identification.

If it's a married couple applying, one application is sufficient. If they are roommates, or relatives, have each person fill out an application so that you can perform independent background checks. Make each person older than 18 sign the lease application.

Review the application while they prospective renter is still there for completeness of information and to identify anything that you might have a question about. The critical information you need is their social security number, birth date, current address with zip code, and permission for a reference and credit check.

You'll need the name and phone number of the current landlord. And it's useful to get the name and phone number of the previous landlord, too. Sometimes a current landlord will give a false-good reference just to get them out of the place! The prior landlord will have no such motivation and will give you an accurate reference.

Make sure that all applicants sign the application. You need this permission to do the background check.

Look for things like more cars than the parking of your home can handle, and so forth.

Do not make any statements that indicate that they can rent the property from you. This is strictly an application. You still have to select the best renter for you.

THE MOST IMPORTANT QUESTION TO ASK

The most important question to ask your prospective renters is, "For what reason are you leaving the home you're in now?"

You'll get lots of answers, some of which are valid, and others will raise a warning flag. I asked one applicant why they were moving. They replied, "We're being evicted."

"Why?"

"Our three-year old kept going to the bathroom out the bedroom window."

INSTANTLY TELL HOW THEY'LL TREAT YOUR PROPERTY

After they've filled out the application, walk them out to the car, and shake their hand as you say good-bye.

Look at their car. You can tell lots about how people will treat your property by how they treat their property.

If their car is well-kept and neat inside, they are very likely to make good renters. If there is trash all over the inside of the car, it's missing hub caps, and so forth, that indicates the condition your house will probably be in when they move out.