Quick Move Blog

Tuesday, 31 January 2012

Hometrack Forecasts Further House Price Falls as Buyers Stay Away

The property analyst, Hometrack, forecast further house price falls in 2012, with the weak economy and the squeeze on household budgets limiting the number of new buyers in the property market.

2012 has started slowly, with 10.5% fewer new buyers registering with agents compared with December, 5.4% fewer properties listed and 14.3% fewer sales agreed.

House prices have remained flat in January, following a decrease of 0.2% in December and November. London appears to be bucking the trend, with prices up 0.1%, and with properties selling far more quickly than the rest of the country, with the average property being on the market for 6.5 weeks vs 12 weeks for the North, Midlands and Wales.

Looking at agreed sale price, on average sellers are agreeing prices that are 92.5% of the asking price.

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Wednesday, 25 January 2012

Worry for Home Sellers and Home Buyers

2012 has so far brought little comfort for homeowners, let alone for homeowners trying to sell their property. It would appear that the housing market is under attack from all angles (from house sales, to house prices, to problems within the economy) and predictions for the short and long-term do not alleviate any of the anxiety and worry home sellers and home buyers are feeling.

House sales in the United Kingdom recorded an 11% drop in 2011 and fell to just 869,000. These statistics confirm fears that sales are continuing to run at approximately half the levels recorded before the banking crisis in 2007. It is likely that home sales will remain low over the coming year. The worst news would be if sales were set to follow the pattern of last year and fall even further.Unfortunately, the story is similar for house prices. The value of property is expected to tumble in 2012; some voices within the property industry feel that the value could fall by as much as 10%. Home buyers would then negotiate accordingly and even more heavily than before. 2012 is set to remain a buyers’ market.

Over the last few years, the gap between homeowners’ asking prices and actual selling prices has been widening. The figures suggest that many homes have been overpriced by as much as 40% which means extra delays, more uncertainty and extended difficulty on the market for those trying to sell their homes. Overpricing as well as declining house values will cause an escalating imbalance and further trouble for homeowners.

A recent survey undertaken by zoopla.co.uk revealed that 48% of people believe the housing market can only recover when mortgage availability improves. However, 89% of people surveyed feel that it is now harder to obtain mortgage funding than it was three months ago. The proposed mortgage ruling devised by the Financial Services Authority and to be implemented by 2013 would place further restrictions on lending and could suffocate the already struggling housing market.

In such an unpredictable and unstable market, vendors are becoming increasingly frustrated at the lack of certainty and promise where their property, area and future are concerned. The difficulties within the housing market and economy could upset the dreams and aspirations of many homeowners and make 2012 another challenging year.

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Tuesday, 24 January 2012

UK House Sales Down 11% in 2011

UK house sales fell by 11% in 2011 to 869,000, one of the lowest levels of sales on record, with sales almost half of what they were in 2007. This compares with the recent record low of 848,000 sales in 2009.

This fall off in house sales is a combinaiton of a number of factors, including economic uncertainty and a lack of availability of credit finance.

The Council of Mortgage Lenders has forecast that total lending will fall again this year, suggesting that house sales are unlikely recover from these current low levels.

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Monday, 9 January 2012

2012 Brings More Mortgage Concerns for Homeowners

It seems that 2012 is going to bring more concerns over mortgage lending and the Financial Services Authority (FSA) believes the “real danger” is that bigger problems are being stored away for the future. Attempts to rescue the mortgage market have so far been unsuccessful and the worry is that ‘fire-fighting’ measures will not provide long-term stability.

As a result of the difficult economic conditions, lending criteria is set to become tougher. The FSA’s Mortgage Market Review states that loans should only be granted where there is reasonable expectation that the customer can repay the loan without relying on “uncertain” future house price rises. Furthermore, income will have to be verified in every application and lenders are being told to place greater emphasis on other regular outgoings. Potential borrowers will be scrutinised and their financial situation will be studied in even more depth. Changes also include the abandoning of “fast-tracked” mortgages (an accelerated approval process) and the removal of self-certification mortgages often used by self-employed borrowers.

In addition to these stricter rules, new stipulations mean that borrowers hoping to obtain mortgage lending which stretches past retirement age will be subject to extra “prudent and proportionate” checks. The FSA’s proposals intend to block any return to the risky mortgage lending of previous years and they come following whole sector analysis in which they found that: almost 1 in 10 mortgage holders struggles to pay their monthly bill; up to 9.2% of all home loans have payments overdue; in the next 10 years, 1.5 million interest-only mortgages worth around £120 billion will be due for repayment but 78% of all interest-only mortgages had no reported plan for repayment. These statistics are troubling and spell further difficulties for the mortgage and property markets.
Stricter controls on lending and more defaults on mortgage payments will mean that less people are able to buy and confidence in the market will be even lower. In a falling market already characterised by uncertainty, having even less buyers will lead to longer periods of time spent on the market, decreasing asking prices and a much higher risk of a sale falling through.

If homeowners wish to avoid the hassle and unpredictable nature of trying to sell on the open market and would like a guaranteed sale not reliant on mortgage finance, they can explore the service provided by Quick Move Now. We buy directly from homeowners with no “middle-men” or investors and can offer an assured sale within the timescales required. The service Quick Move Now offers is second to none, leaving homeowners without a chain and in a strong position for their onward move, whatever it may be. Established in 1998 and specialists in home purchase, we buy every property using cash funds and guarantee to buy.

For a free, no obligation offer or more information, homeowners can contact Quick Move Now on 0800 068 3366.

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Thursday, 22 December 2011

Home Sales Halved

With so many economic factors combining to challenge the housing market, it is no wonder that we have experienced increasingly difficult market conditions throughout 2011. The level of home sales is currently running at half that recorded a few years ago before the onset of the banking crisis. Some industry experts are blaming the stricter mortgage criteria for these drastically reduced levels but the truth is that the troubles within the housing sector have not been caused by one factor alone; on the contrary, the housing market difficulties have been fuelled by a combination of obstacles ranging from a lack of buyer confidence, wary mortgage lenders and restricted lending to a supply-demand imbalance, unmanageable inflation and job uncertainty.

As we move towards 2012, improvement is not expected. The Council of Mortgage Lenders warns that the “mortgage drought” may become even worse and banks will find it harder to lend. Unfortunately, there aren’t any signs of economic recovery, or renewed stability within the job market. More properties are set to remain on the market extended lengths of time and asking prices are doomed to drop.

For certainty, a guaranteed cash sale and peace of mind, homeowners can call Quick Move Now which purchase property using their own cash funds, non-reliant on a mortgage or investors. The service Quick Move offer not only comes with no obligation and at no cost, it allows sellers to sidestep the hassle, worry and unpredictability of marketing for a buyer conventionally. Established in 1998 and having purchased in excess of 4,000 properties across the UK, Quick Move are able to provide the support needed by homeowners trying to sell and have developed a professional and efficient service many sellers have benefited from.

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Britain’s Two-Tier Property Market Creates Wider Gap Between Homeowners

Despite the average property value falling throughout 2011, the number of property millionaires grew. This irregularity serves to widen the gap between the average homeowner and the very wealthy and means that the highest end of the market is booming while the rest struggles. 26,744 new British property millionaires were created in 2011; there is a great demand for top-end homes which has pushed up the average price up for equity-rich buyers. Currently, 253,118 British properties are valued over £1 million which equates to 1 in every 108 homes.

At present, the average home is valued at £221,128 which is 3% lower than in December 2010. In contrast, the average value of properties costing over £1 million is £1, 688,379 which is a rise of 2% since this time last year. A large proportion of the high value properties are in London, Surrey and counties in the South East. As a result of their financial positions, cash buyers or high-end purchasers are benefiting from low mortgage rates and strong demand from overseas buyers means boosted prices, especially in the Capital.

These statistics show just how differently the top of the market is performing compared to mainstream Britain. One area of the market flourishes while the other is struggling; inflation, interest rates, deposits, stagnant wages, redundancies, unemployment and limited mortgage finance are all contributing to the awkward market conditions for the average homeowner. With Britain’s wealthy stoking an already prospering market, the gap between them and the rest of Britain will widen and the market conditions for those with properties costing below £1 million could worsen. Even tougher conditions would wreak havoc in an already unstable, falling and slow market: there would be more properties on the market, less buyers available and asking prices would fall and fall.

Whichever rung of the property ladder you are on, whatever your situation and whatever your timescales, Quick Move Now is uniquely placed to provide a formal cash offer, guarantee the purchase and tailor our service to suit you. We cover solicitor’s costs and survey fees, estate agency fees will be avoided and there is no cost involved to obtain a no-obligation offer which means that you can take charge of the sale and avoid the difficult conditions on the market. We buy directly from the vendor, do not need a mortgage and do not rely on investor buyers, thus separating ourselves from the services provided by and problems associated with estate agents or other quick sale companies. For flexibility, reliability and an assured sale, contact Quick Move Now on 0800 068 3366.

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Wednesday, 21 December 2011

Unsuccessful Estate Agent Experience

Quick Move Now was approached last week by a gentleman who had been trying to sell his semi-detached house in Bedfordshire on the open market. After six months of marketing without any luck, he found a bungalow which he wished to purchase but was reliant on selling his current property first. Afraid of losing out on the bungalow and despondent at the lack of interest in his house, he took his estate agent’s advice and allowed them to conduct an open house.

The open house was scheduled for the second weekend of the following month. The gentleman was wary of the process but needed to secure a sale on the house so thought it was his only option. When speaking to us, he reported that he had felt uncomfortable with so many people entering his home and felt that there wasn’t any real control over what was going on. He found that most of the viewers were nosey neighbours who wanted a casual look at his home, fellow marketers trying to suss out the competition and time-wasting investors who had no intention of buying. Predictably, no offers were made and the inconvenience and worry had been for nothing.

Many people have shared similar open house experiences, declaring that they were pointless, awkward and, ultimately, unsuccessful. Some homeowners have even found that their open house was just an excuse for the estate agents to increase the number of people on their books and a chance for them to advertise themselves rather than the property. Furthermore, a study published on smartmoney.com reveals that the success rate for open houses is a mere 2%.

Our client need not have felt that an open house was his only option following ineffective marketing. Indeed, it wasn’t his only option, as he found when he contacted us for an offer. We completed on the purchase of his house today which meant that he secured his dream bungalow. The service Quick Move Now offer is second to none, leaving homeowners without a chain and in a strong position for their onward move, whatever it may be. Established in 1998 and specialists in home purchase, we buy every property using cash funds: mortgages are not required and investors are not relied on because we buy directly from the vendor. Avoiding the hassle and cost of marketing a property conventionally is easy as our offers are provided at no cost and with no obligation, timescales are set by the homeowner and Quick Move guarantee to buy.

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Homeowners Struggle as Repossessions are set to Rise

Reports from the Council of Mortgage Lenders (CML) warn that higher unemployment in 2012 is likely to lead to a rise in house repossession. As unemployment levels grow and redundancy numbers increase, the housing market will suffer more and more. In an already unstable market, further problems within the economy would mean disaster for all homeowners, especially those trying to sell. The CML predicts that repossessions will total 45,000 next year compared to 37,000 this year. This prediction, coupled with the forecast that property sales in 2012 will be at their lowest since modern records began in 1978, spells further difficulty for the housing market which is likely to last well into the New Year. Higher levels of repossession will mean more properties on the market but lower levels of buyers so many people will find themselves unable to sell and move on.

If homeowners would like the assurance of a sale and the guarantee that they can avoid the cost, hassle and uncertainty associated with the often lengthy process of selling on the open market, Quick Move Now provides a free, no obligation service and can make a formal offer within 7 days. Whether you are facing repossession, struggling to sell due to the current lack of buyers or keen to avoid the difficulties involved in selling conventionally, Quick Move Now can help: we can complete on a sale using cash funds within 24 hours if necessary and tailor our service to suit the wishes of the seller. In order to discuss the benefits of the service in more detail and obtain an offer, Quick Move can be contacted on freephone 0800 068 3366.

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Frustrated First Time Buyers

Within the current market in particular, any problems experienced are exacerbated by the difficult predicament of first time buyers. Many property journalists and industry experts believe that the only chance the housing market overall has of recovery is if first time buyers can manage to get a rung on the ladder: unfortunately, this chance is slim. There are currently around 200,000 first time buyers in the UK a year compared to approximately 500,000 before 2008. Not only are there less first time buyers, the average age of first time buyers is creeping up and stands at 33 years of age at present.

Rightmove has even gone so far as to suggest that those stepping onto the property ladder will be “endangered species” in 2012. For those aged below 30, just 22% of first time buyers entered the housing market under their own financial steam. The percentage is around 8% for those aged under 25. The table below (care of http://www.bbc.co.uk/news/business-16183341) shows the change in levels of unassisted first time buyers over the last 6 years.

Unassisted first-time buyers
Region	2005	2011
Source: CML
North	73%	39%
Yorkshire and Humberside	71%	39%
North West	71%	41%
East Anglia	66%	33%
East Midlands	71%	38%
West Midlands	69%	36%
South West	66%	30%
South East	67%	32%
Greater London	68%	29%
Scotland	69%	33%
Wales	72%	38%
Northern Ireland	68%	44%
UK	69%	35%

First time buyers face many obstacles when trying to purchase a property including raising a deposit, stagnating wages, high levels of redundancy and unemployment, high interest rates, disproportionate inflation and limited mortgage lending. If the number of first time buyers able to proceed with purchases continues to decrease, the market will become weaker and weaker: the buyer-seller imbalance will become steeper and less homeowners will be able to make the onward move they aspire to.

In a housing market characterised by anxiety and unsteadiness, homeowners can explore the service of Quick Move Now who eliminate the stress and hassle of waiting on the market for a buyer. As well as covering vendor’s legal fees and survey costs, we use cash funds to buy and do not need to obtain a mortgage. As a result, we can buy property efficiently, offering the certainty which the market cannot. An offer from Quick Move Now is free and comes with no obligation, which means that homeowners gain the control over their future which is unavailable on the open market and can make the fresh start they desire for the New Year.

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Monday, 19 December 2011

Stricter Mortgage Rules Likely

The FSA has proposed new affordability rules to stop irresponsible lending. The proposals will tighten up lender credit checks on mortgage applications, effectively signalling an end to 'self-cert' mortgages, where people were able to get mortgages with few checks on their actual income levels or ability to repay their mortgage.

Interest-only mortgages will still be offered but only if there is a 'credible' plan to repay the loan, with applicants no longer able to assume rising house prices will repay the mortgage balance.

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The Housing Market of 2012: Flat or Falling?

Previous predictions for a flat housing and mortgage market in 2012 now look optimistic; the likelihood is that lending will slide and the housing market will suffer another dip. Worryingly, the rate at which banks lend to each other – LIBOR – is creeping upwards towards 1.05%: banks will look to pass these costs on to consumers and, thus, mortgage rates will rise and loan-to-value lending will fall. Come the New Year, banks will find it difficult to increase their loan books.

Unfortunately, in a concerning cycle, instability breeds a lack of confidence and a lack of confidence means a weaker market. If the struggle to obtain mortgage lending continues and worsens as experts predict, we will see a floundering housing market moving through 2012. House price reductions will persist, people will spend longer waiting on the market and potential buyers will be wary of committing to a purchase. With investors dominating the mortgage market and rents increasing, many people will be priced out of both sectors of the housing market.

Amidst the gloomy predictions for next year, Quick Move Now are in the unique position of being able to offer a guaranteed sale. In order to avoid the uncertainties and instabilities of the current market, homeowners can explore Quick Move’s service confident in the knowledge that we use cash funds to buy, do not charge fees or oblige you to accept an offer and can complete when you need us to. There is nothing to lose in requesting an offer and everything to gain from accepting one. For a secure, guaranteed and hassle-free sale, contact Quick Move Now for more information on freephone 0800 068 3366.

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Thursday, 15 December 2011

Understanding The Various Kinds Of Mortgage Loans In The UK

Mortgages are secured loans that use your home as collateral; inability to repay the loan will certainly lead to the repossession of your house. You have to shop around and take out a home mortgage loan so that you don’t settle with a loan that is beyond your affordability. Defaulting on loans not only has the risk of making the homeowner lose his homeownership rights but he also trashes his credit score in the long run. If you want to avoid taking out a mortgage refinance loan in the near future, you have to educate yourself on the types of mortgage loans that are available in the market. Check some out.

Fixed rate mortgage loans - The most common mortgage loan type is the fixed rate mortgage loan. As the name suggests, the interest rate on this loan will be fixed throughout the repayment term of the loan and therefore the monthly payments will also be fixed till you repay the loan and own your house. This is ideal for all those who are not good at managing their personal finances as you can stay sure about the exact amount to keep aside for your monthly mortgage installment.

Tracker mortgage - Tracker mortgages track the Bank Of England base rate, usually at a few percentage point above it. Could be considered a questionable option for mortgages at the moment, due to the fact that interest rates are very low (0.5%), and can only go up. Another potential downside of a tracker mortgage is the uncertainty of the changing rate, meaning that the monthly repayment amount can vary with interest rates. This means tracker mortgages offer less stability as fixed rate mortgages.

Variable rate loan - This mortgage is also based on tracking the base rate, as it is a rate that can vary during the mortgage term.

Interest-only mortgage - When you take out the interest-only loan in the UK, you only pay back the interest rate and not the principal amount. However, at the end of the term you’re supposed to repay the outstanding balance. How you’ll manage the payments depends on you. However, when you take out such a loan you should always consider whether you’ll be able to repay the entire balance at the end and if this will hurt your finances at the end.

Capped rate mortgage - With such mortgage loans, the rates are fixed but if the rates suddenly fall, you have to pay the lower rate and this kind of loan is good for those who follow a strict budget throughout the month.

You must be aware of the fact that getting a mortgage loan is the biggest responsibility on your shoulders and until you repay the entire amount that you’ve borrowed on your mortgage loan, you must keep on managing your finances in the most effective manner. If you think you may default on the payments, you can opt for a mortgage refinance only after considering the pros and cons.

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Thursday, 8 December 2011

Sellers in House Price Denial

Amidst economic disorder and uncertainty, many people have been shocked that asking prices have registered such a slow decline. Research conducted by Rightmove goes some way to explaining why: despite troubles within the economy, asking prices are actually up by 1.2% on last year and are around £70,000 ahead of ‘actual’ prices reported by the Land Registry. It would be tough enough to sell a property if priced accurately on the market, let alone if priced too high.

Rightmove director Miles Shipside attributes the unrealistic asking prices and lack of necessary reductions to “the public’s belief [that] the value of bricks and mortar… def[ies] the deteriorating economic situation.” Indeed, Rightmove’s survey shows that more than one in five homeowners confidently expects prices to rise. Of the 26,300 consumers surveyed, 63% do not believe that house prices will be lower in a year’s time than they are now. 22% even believe that prices will be higher!

Miles Shipside added: “It should be remembered that in spite of the overall confidence expressed in this survey for property prices, transactions volumes are still well down on historic norms. Economic stability in the UK and Eurozone will be needed before many are willing or able to re-engage with the property market.” Unrealistic asking prices will create even more delays and instability within the already turbulent housing market. Finding a buyer is proving to be increasingly more difficult so inaccurate pricing can only lead to extended periods of time trying to sell and, ultimately, disappointment.

In order to avoid the confusion of the open market, homeowners can explore the efficient, hassle-free service of Quick Move Now at no charge and with no obligation. Control over timescales is given back to the homeowner as Quick Move purchases using their own cash funds and work with a dedicated legal team who ensure that completion dates are met. There is nothing to lose in obtaining an offer; a guaranteed sale will put you in a unique, strong position within a weak and falling market.

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Tuesday, 6 December 2011

House Prices Fall in November

The Halifax today reported a fall in average house prices in November, by 0.9%.

The average house price is now £161,731, marginally lower than at the end of 2010.

Martin Ellis of the Halifax commented: "House prices have remained remarkably stable in 2011 despite the difficult economic climate and pressure on household finances."

He went on to say that he expects prices, and the number of sales, to remain broadly unchanged over the coming few months as demand and supply change little.

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Wednesday, 30 November 2011

Poor Mortgage Deals: Less Home Buyers

In October, lending conditions were at their tightest since February and unfortunately we have seen no improvement throughout November. Only 1 in every 100 loans were to borrowers with a deposit of 10% or under, compared to 13 in every 100 in 2007. Higher deposits are needed in order to obtain a mortgage at all, let alone obtain a mortgage on a good deal. Most buyers are unable to raise large deposits and find themselves unable to get on or move up the property ladder. The better deals and affordable mortgages are available more so for buy-to-let investors and therefore other buyers are being pushed out.

Richard Sexton, director of e-surv chartered surveyors commented “The truth is the mortgage market is fighting an uphill battle. Insipid economic growth, and restricted supply of credit, are sapping the life from the market and forcing banks to target wealthier borrowers and professional buy-to-let investors. They are in no position to increase their lending. Unless the economic gets moving, and the crisis wreaking havoc in the Eurozone dissipates, there is a very real chance the first time buyer market will enter a state of near paralysis.”

With lending levels low and investor buyers able to exploit the situation, we are experiencing increasingly difficult market conditions. If these problems continue, less buyers will be able to secure mortgage funding and thus more people will be unsuccessful when trying to sell and may spend even longer on the market. There are so many knock-on effects! For a fast, reliable and secure sale, sellers can approach Quick Move Now who use their cash funds and years of experience to provide a professional service tailored to suit individual needs and situations. There are no charges, no obligations and no uncertainties. Quick Move Now don’t need a mortgage so can offer a guaranteed sale with flexible timescales.

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Tuesday, 29 November 2011

Housing Related Details from Chancellor's Autumn Statement

As was widely leaked, the Chancellor announced a few key measures to try to kickstart the housing market and to stimulate house building including:

Mortgage indemnity scheme to help up to 100,000 people buy homes with 5% deposit
£400m scheme to kick-start stalled construction projects in England
50% discount for social tenants wanting to buy their own homes in England

However, it was also confirmed that the stamp duty holiday for first time buyers, where stamp duty is waived for first time buyers buying a property priced between £125,000 and £250,000, will not be extended beyond the end of March 2012, as the Treasury doesn't think it has been helpful to many first time byers.

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Nationwide Reports 0.4% rise in House Prices

Nationwide today reported a 0.4% rise in house prices in November, up 1.6% year on year.

The Nationwide's figures are contrary to the Land Registry's showing a slight fall in prices over 12 months.

Unsurprisingly, Nationwide predicts prices to be static or lower over the coming 12 months, with only a lack of supply proping up prices.

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Thursday, 24 November 2011

Tips For Buying A Property Abroad

Millions of Britons dream of buying a property abroad, often to escape from the monotony of everyday life and to find a country with more opportunities and a better standard of living. Low prices, cheap flights and the globalisation of the property market have enabled many Britons to purchase their dream properties in Spain, France or Dubai in recent years. While the economic recession has affected this trend negatively, especially when it comes to investment and buy to let properties, the appeal of owning a property abroad is stronger than ever.

Whether it's a holiday home, a new home after moving abroad, or a buy-to-let property, millions of Britons will consider purchasing a property abroad at some point in their lives. If you are thinking of buying a property abroad for any of these reasons, read out tips for buying a property abroad.

1.   Do Your Research

While this may seem obvious, it is essential that you devote enough time to the research phase before buying a property abroad. This involves researching where you want to buy your property, which might in turn depend on a number of other factors, including property prices, living standards, local culture and economy.

Make sure that you don't rush the process, as buying international property will always require more time and attention than buying in the UK, and ensure that you know what your objectives are. If you are buying the property as your new home abroad for example, the property purchase will only be a small part of your moving process, so it is recommended to start your research as soon as possible.

2.   Find An Ideal Location

As you will probably not know your chosen country as you know your own neighbourhood or other UK locations, it is essential that you take your time to research possible property locations thoroughly. This is a crucial step whether you are buying a holiday home, an investment property or a new home abroad.
Here are some basic points you should consider when choosing the location:

•   Do you know the local property market and average property prices in the area?
•   Do you want to buy the property in a city, town or village?
•   Are there good local amenities?
•   Is there good public transport in the area?
•   Do you know enough about the neighbourhood, and if you are buying the property as your new home, would you like to live in this community?
•   Is the area stable economically?

3.   Get professional advice

If you use reliable professionals to assist you in buying the property and to look after your interests, you can ensure a stress-free purchase process. Choose an experienced and reliable estate agent abroad, or a UK agent that also specialises in overseas property. You should also get legal advice, making sure that you have chosen a truly independent lawyer, with a thorough knowledge of the local property market and a good command of English. All countries will have slightly different regulations for foreign property purchases, but the right professional can certainly help you make sense of these differences.

4.   Stay On Top Of Your Finances

Start researching local property prices well ahead of buying the property. Prices will differ greatly even within the EU, and between different areas in a single country, so make sure that you are fully aware of possible costs. If you can afford it, the best option is to buy with cash, which means that you'll own the property without increasing your mortgage debt. If you need a mortgage, research the local mortgage market. Make sure to be aware of any additional legal costs and taxes to be paid as well.

This post was written by Britannia Movers International, one of the UK's largest removal groups offering UK removals, international removals, storage and business removal services.

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Monday, 21 November 2011

House Sales - Asking Price Negotiations

It is not only falling house prices which homeowners have to be wary of. Even in a stable market, negotiations take place and buyers rarely pay the full asking price for properties. Naturally, in an uncertain and declining market, buyers are even less inclined to pay the asking price and, in most cases, negotiate very heavily. Again, the problems stem from the buyers’ market; with a lack of buyers, those who are able to follow through with a purchase are in a strong position and are able to make low offers in order to take advantage of the situation.

As Hometrack’s graph shows, the percentage of asking price being paid has been decreasing recently and we are lucky if buyers are paying more than 92%. Homeowners who have been given inflated figures by Estate Agents face steeper drops and even more disappointment as unrealistic starting figures need to be adjusted and even then achieving the full asking price is virtually impossible. It is predicted that the recent sharp declines in the percentage of asking price being paid are only the first wave of decreases which are to characterise the latter part of 2011 moving into 2012. Those lucky enough to find a sale may be seeing even lower offers, reluctant buyers, longer timescales for sale and a higher risk of sale abortions.

The UK’s leading home purchase specialist, Quick Move Now, is in the unique position of being able to offer vendors a cash sale without the frustrations and delays often experienced on the open market or via other routes such as auction. Having cash funds means that we do not need mortgage funding and do not rely on investor buyers: we are the cash buyers purchasing directly from clients. Whatever the situation, Quick Move Now can help and offer a flexible, professional service which is unrivalled.

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Government to Help First Time buyers

As a means of boosting the house building sector, the Government is to underwrite the mortgage borrowing of first time buyers with small deposits. The scheme aims to help 100,000 people.

The basis of the scheme is an indemnity scheme to underwrite loans made by lenders. This will enable lenders to provide mortgages of up to 95% of the value of newly built homes to buyers.

The scheme also includes £400m to help developers restart housing schemes that have stalled through lack of available funding, as well as the sale of government land for development and making is easier for people to buy their council houses.

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House Sale Asking Prices Lowest for Four Years

House sellers have cut their asking prices by the largest amount for 4 years, as the lack of confidence in the economy continues.

Asking prices have fallen by 3.1% on last month, amounting to a typical fall of £7,528 as sellers try to attract buyers.

The number of hosues for sale is also at a 3 year low. New listings were down by 11% compared with this time last year, with the weekly rate of 21,375 new properties being listed the lowest since the start of the credit crunch. Even London, which has been bouyed by overseas buyers, has seen a fall asking prices of 1.2%.

A fall in properties for sale would usually result in falling prices, but a lack of buyers and economic uncertainty means that this is not the case. The latest Rightmove Consumer Confidence Survey shows that 70% of home movers feel that this is currently a bad time to sell their home.

If you need to move, buy are struggling to find a proceedable buyer, then call Quick Move Now, the UK's leading house buyer. We buy houses for cash and can act fast, guaranteeing you a quick and certain house sale. Call us on 0800 068 3366 for details.

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Thursday, 17 November 2011

Why Are Many First-time Buyers Unable to Purchase?

Statistics reveal that the average age of first-time buyers is 31! Even more shocking is the news that the average age of first-time buyers purchasing without financial backing from relatives has increased from 33 to 37 over the last 2 years. In the current economic climate, it is proving more and more difficult for older generations to aid younger generations financially and so increasing numbers of people are finding themselves in the aforementioned 37 year age bracket when they are finally able to afford a home.

The cost of living has increased while wages, in general, have remained the same and unemployment levels are on the up. These conditions make it very difficult for first-time buyers to save for a deposit. In addition, the deposit levels required have rocketed and mortgages are tougher to obtain. In many cases, buyers need 35-40% deposits in order to find mortgage deals which are affordable with manageable interest rates and repayments. With a smaller deposit, buyers will struggle to gain lending even if they have an excellent credit rating and, if they do manage to secure a mortgage, interest rates will not be favourable.

In May 2009, first-time buyers accounted for 45% of agreed sales. By November 2009, this percentage had dropped to just 19% and now we are lucky if first-time buyers make up 15% of the sales. With no signs of recovery within the economy or the housing market, concerns are that this situation will continue well into 2012 and could get worse: many people fear that a whole generation is being cut out of the market.

Dwindling levels of first-time buyers able to proceed is bad news for homeowners trying to sell. Without first-time buyers stoking the market at the bottom end, homeowners across the board are finding that they are unable to move up the property ladder or are unable to sell and make the move they desire, be it relocation, a move into rented accommodation, a move in with family or even a move abroad. The healthy cycle within society of sales and purchases has been lost and may take years to regain.

Amongst all the tribulations and uneasiness, there is hope for homeowners looking to sell as they are offered a secure, guaranteed sale when they use Quick MoveNow’s unique home purchase service. Cash funds mean: flexible timescales, certainty of sale, ease of sale. With survey and Solicitors’ costs covered, no Estate Agency fees to pay and guaranteed funds, homeowners can move with confidence. Quick Move Now provides offers at no cost and with no obligation which means that the vendor has control over the process throughout, with none of the hassle or delay usually associated with selling.

For more information, visit the Quick Move Now website or call us on 0800 068 3366.

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Tuesday, 15 November 2011

Could buying a property in the north of England be the best way to get your foot on the ladder?

Purchasing property for development as well as acquiring buy to let properties is a route often taken by people starting a business with the aim of gaining financial independence. Many people see the process of buying a property and then reselling it at a higher price as a way to raise enough funds to gain a position on the property ladder or obtain their dream home.

For many people who are considering buying their first property, they may be surprised at the deposits that are required. With property prices being a lot higher in the south compared to the midlands and the north, a 15% deposit can mean two very different figures and often one is much higher than the other. In the South of England where housing is at a much higher price than other parts of the country, you will need much more cash to get an equal rate of your borrowings.

The north of England has historically enjoyed much lower property prices than the south. This significant difference is fuelled by numerous factors. For starters, employees in the south enjoy a much higher wage bracket than there northern counterparts. Secondly, there is a much higher density of people located in the main cities, especially in London so the demand has led to property sellers being offered much higher prices on their property because people are willing to pay more to make sure they win there dream home.

So if the thought of paying over the odd on a average property in the south makes you want to run a mile. Why not consider the purchase of property in the north. The north presents a great opportunity for starting a business in buy to let properties. The rental market is buoyant in the north for two main reasons:

1 - Lack of First-time Buyers - As stricter lending criteria has been introduced since the banking crisis of 2008 there are far fewer buyers getting on the property ladder so rental demand has increased.

2 - Renting by Choice - Many people who could purchase choose renting rather than commit to the financial burden of a mortgage. The flexibility of long term renting allows them to relocate for work or change property quickly when their circumstances alter.

For a south of England based individual it is still a possibility to release enough equity from your existing home or use savings to finance a property purchase in the north. Lower house prices mean you'll generally require lower deposits. Also, don't worry about living and working so far away from the areas you are considering to buy. There is an established structure of leasing agents and estate agents all accessible online to arrange purchase and manage properties for you as well as actual estate agents working late nights and weekends to accompany busy professionals.

This guest post was written by business blogger Roxi B who writes for Smarta.com, a site that offers a range of tips and advice for individuals who are considering starting a business for the first time.

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Monday, 14 November 2011

Sell Your House At Auction - Will You Achieve a Quick House Sale at The Price You Want?

Quick Move Now speaks to hundreds of vendors every day, all experiencing different problems and all selling for different reasons. There is no set formula which will suit every client which is why we tailor our service to suit each individual. As it becomes more difficult to sell property, we are hearing many stories from clients about their experiences at auction.

One client called Quick Move this month following an unsuccessful auction attempt. Her property had been valued at £155,000 and the auction house she approached recommended that she place it with them at a guide price of £100,000 with the hope of much higher bids. The client wouldn’t have been happy to accept such a low price so they set a reserve of £120,000. Her property was advertised online for two months prior to the auction date and the auctioneer advised her that there had been no interest and they would need to drop the guide price. When the property finally went to auction, a few bids came in below £100,000 but ultimately the property went unsold. Precious time had been wasted and the vendor had to pay an auction insertion fee of £500 even though they had not secured a sale (fees would have been £500 plus 1.5% of the sale price if a buyer had been found).

Another client contacted us recently with more bad news concerning auction experience. He and his wife had been marketing their property in Leicester at £275,000 for four months. Circumstances changed suddenly and they needed to secure a sale as soon as possible. They saw little chance of speed on the open market and so turned to a local auctioneer, described their predicament and were advised that the only way of achieving a sale within three months was to go to auction within four weeks at £185,000. Thinking a certain sale would ensue, they signed up and paid the insertion fee. Unfortunately, no one placed an offer. The couple were then left without a buyer and their property had been advertised at £185,000 which would set the bench mark for any future marketing or offers.

Lots of people see auctions as a speedy, certain way of selling whereas in actual fact control is not with the vendor, the price can be driven down significantly and many lots pass through unsold. Buyers at an auction have to be cash buyers or have a mortgage offer in place ready to buy; in the current climate, this kind of buyer is rare and those who do attend auctions are often reluctant to pay the guide price, let alone the reserve, because of the competition across the board. Many homeowners find that the next auction is a long time away, property needs to be priced very cheaply, bidding wars are now less frequent and they have less say over the outcome and process than they would like. In reality, there is no certainty of selling.

In order to achieve a guaranteed sale, vendors can use the professional, efficient service provided by Quick Move Now. With over thirteen years’ experience in buying and selling property and a team of skilled and knowledgeable staff, Quick Move are well placed to offer homeowners a unique, personalised approach to selling. All offers are cash, are made at no cost and with no obligation. We cover Solicitors’ fees and survey costs, leaving vendors not only hassle-free but also chain-free and able to make their onward move, whatever the situation.

For more information visit Quick Move Now or call us free on 0800 068 3366.

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How to Move Up the Property Ladder

It is widely accepted that property is a good investment and can be a good way to keep your money as safe as houses. However, profitable and reliable property investments are rarely based on just one property, and aren’t usually achieved by buying and holding just one property. Instead, most of us aim to move up the property ladder, whether to diversify our investment, increase our profit or increase the size of our properties to accommodate pets, children, aging parents or all of the above.

If you have already bought your first property, you’ll still vividly remember how difficult it was to get up onto that first rung, however, the hard part isn’t over. It can often be just as difficult to move up to the next rung on the property ladder as it was to get up onto the first one, which is why you need to keep these tips in mind.

Buying and Selling at the Same Time in the Same Price Bracket

Property prices are fluid across time and across different sectors of the market – where the first home market may be experiencing a boom and properties in this price bracket are in high demand (and therefore highly priced) premium properties may be getting heavily discounted. Therefore, if you are looking to move up the property ladder, you have to keep in mind that if you are buying and selling at the same time, in the same price bracket that you are going to be experiencing both the good and the bad of the market at the same time too.

For example, if you are looking to sell your property which has gone up in price 10% in the last 12 months, that is great news as a seller. However, all the other properties in your price range have likely gone up 10% in the last 12 months too, so if you are looking to buy in the same bracket, your equity will have evened out. Luckily, when you are looking at moving up the property ladder, you are also usually looking to move up in the price bracket too so those differences and movements can work in your favour if you look for them.

Value Versus Costs

The value you would get from moving up the property ladder also has to outweigh the costs of that move, either now or in the future. Therefore, start by having your current property valued so you know the exact amount you have to work with in equity, and whether you can find the next property on the ladder which will truly increase your net worth. Unfortunately you may be unpleasantly surprised by the valuation of your current property as some areas of the market are still experiencing a downturn, so you may find a better path up the ladder if you wait out the downturn in your market.

When adding a new property to your portfolio there are also a number of fees and charges to consider, such as:

Stamp duty. Can be a percentage of the purchase price or a set amount depending on your state or territory and your price range.

Mortgage fees. When you buy a new property you’ll need a new mortgage which will come with new valuation fees, application fees, administration fees, legal fees and probably even some ongoing fees.

Deposit. Whether you use your own cash or the equity in another property, your deposit is going to cost you around 10% of the purchase price of the property. Remember that the larger your deposit, the lower your loan to value ratio and if you are able to drop your LVR to 80% or less, you can usually avoid paying lender’s mortgage insurance.

Repayments. Your move to a bigger and better property to move you up the ladder will likely also mean bigger repayments so make sure that your budget allows you to maintain your new position on the ladder, and that you don’t come crashing back down.

Interest. You also need to make sure that your new loan is affordable now and into the future because while interest rates are low while the economy recovers, you need to stress test your loan too, so see whether you’ll still be able to afford your new repayments if interest rates were to go up one to two percent.

Long Term Goals

Moving up the property ladder is not something you should try and do too fast, and you should set long term milestones to achieve in your path to the top. Therefore, remember that if you are already on the first rung of the ladder, you are well on your way, so be patient and don’t worry if your valuation hasn’t come back as high as you would have liked.

In the meantime keep saving and maintaining your current loan. This means keeping current on your repayments and paying more than the minimum where you can to increase the equity in your property. A great way to save when you have a home loan is an offset account, as you’re unlikely to earn more interest in a traditional savings account than you are paying on your home loan, but the funds in an offset account directly reduce the amount of interest you pay on your home loan at the same time.

Alban has written a large range of articles on real estate and property investment.Amongst all topics, Alban loves writing about personal loans

This link was included for the portion of our clients who are selling their home to us in order to move abroad.

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Friday, 11 November 2011

Savills Forecasts House Prices to Fall to 2002 Levels

The property company, Savills, has forecast that in real terms, house prices are set to fall by 11% in real terms (when adjusted for inflation) over the next five years.

According to Savills, prices will be kept low by a weak economy and lack of mortgage finance. While headline house prices falls may not happen, beacuse inflation is rising and currently stands around 5%, when inflation is factored in, house prices will be eroded over the next 5 years.

Savills forecast the average house price will be £170,000 in 2016, compared with £161,000 today and £184,000 in 2007.

They also forecast that the number of house sales will remain low, with 7 million fewer homes being sold over the next 10 years than would be expected.

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Trapped by Online Estate Agents

An increasing number of clients are calling Quick Move Now because they have been let down by online Estate Agents. Hearing about their experiences is concerning and adds even more meaning to the fact that we are true cash buyers who do not need a mortgage and do not rely on third parties to purchase.

In October of this year, we offered one of our clients £70,000 for his property in South Wales. He had been on the market for nine months with a traditional Estate Agent without an offer and was keen to buy a property he had seen on the market nearer to his family. Before he approached us, he took the property off the market with the existing Agent and signed a contract with an Online Estate Agent. Unfortunately, when reading the small print of the contract, he realised that it prohibited him from selling to anyone other than a buyer the Agent found. He was 12 weeks into the 18 week contract and his hands were tied.

The plot thickened when he recounted that the company had suggested putting the property on the market at £60,000 in order to spark a bidding war and achieve offers of £75,000. The client told us “it all sounded so perfect but only now have I realised that it was too good to be true and I was misled. I have only had one viewing in the12 weeks and that viewer offered £57,000”. Such a low offer, especially since, on top of that, the Online Estate Agent charges double the fees of a traditional Estate Agent and charges for surveys and legal costs, would have meant that the client could not afford his onward move. As a result, he was forced to reject the offer and now has to wait until the contract expires so that he has control again; the contract takes him well into the New Year, by which time the market could have fallen again and the property he wants may not be available.

In reality, the benefits, timescales and price the Online Estate Agent had promised were not achievable and their contract meant that the vendor was trapped for 18 weeks, unable to sell and without control over his own property and future. Some clients have even reported that they were signed up to 6 month contracts! In such a tough and unpredictable market, finding a buyer is difficult and so the few buyers who are in a position to proceed are able to negotiate heavily. Consequently, it is highly unlikely that buyers who are in a position to buy will be willing to pay over and above the price stipulated and advertised by the Online Agent. The process wastes homeowners’ time and money and leaves them without a say.

Quick Move Now are unique in the market place, providing genuine cash offers, allowing vendors to set the timescales and be involved in the sale process and taking on the stress and hassle of the tough, falling market. In addition, we cover survey costs and legal fees so the offer we make is the full sum received. There is also no cost or obligation to explore the service and obtain a firm offer. We pride ourselves on transparency so there are no hidden costs, no small print and no false hope.

If you would like to know move about Quick Move Now and the services we offer, please call us on 0800 068 3366 or visit Quick Move Now.

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Thursday, 10 November 2011

Transforming your Bathroom on a Budget

A guide to transforming your bathroom to make your home sell

Bathrooms can are an incredibly functional room of the house, they’re the room in which personal hygiene and health and beauty routines take place. They’re such a vital room of the house that if a potential buyer is put-off by your bathroom they’re less likely to make an offer. If you fear your bathroom may be holding you back from a quick sale then here are a few simple renovation tips that can be done on a budget, yet make all the difference.

Painting

If your bathroom’s rather old you may notice that your paintwork has become scuffed and flaky. Removing the old paint, sanding the wood work and re-painting can really give your bathroom a facelift which doesn’t cost the earth! Dulux Bathroom+ collection is a popular choice for woodwork and walls in the bathroom as it has been specially designed to prevent mould growth for five years – making your bathroom maintenance even easier!

Renovation cost: Approximately £20.00 for a 2.5 litre can.

Colour Change

If you’re someone who shies away from DIY would but would like to make your bathroom more appealing to viewers, changing your accent colour can give your bathroom a complete overhaul and you won’t even need to get your hands dirty! Simply buy some accessories in a new accent colour, and of course change your towels and bathmats. Go for a colour which really brings your bathroom to life and which viewers can’t resist.

Renovation cost: Approximately £60.00 for a luxurious full set.

Aromas

Bathrooms can be luxurious through aromas and scents, not just through visual aspects. Your viewers won’t want to be greeted by unpleasant smells as they enter the bathroom. Spa collection shampoos and bathing products can leave a pleasant aroma after you’ve washed. Lighting scented candles can not only create a pleasant aroma, they can also be great accessories. Opt for a scented candle in your new accent colour to complement your bathroom’s colour scheme.

Renovation cost: Anything between £10 and £30 depending on the size and brand.

Spoil Prevention

If you have just renovated your bathroom, you’ll want it to stay in pristine condition for as long as possible (at least until your house has sold). Moisture and condensation can ruin the appearance of your new bathroom so it’s essential you keep moisture to a minimum. Using a ventilation fan can help to extract the vapours and prevent mould from developing. If your bathroom doesn’t have an external wall, a ventilation fan can be placed just above the shower. Regular maintenance and cleanliness can also help to keep mould to a minimum – cleanliness of bathroom suites is incredibly important so that discolouring doesn’t occur. Try to wipe bath, showers and toilets down after use to keep them gleaming.
Renovation cost: Between £10 and £70 for an extractor fan.

Improving the appearance of your bathroom doesn’t have to break the bank. Subtle changes can create massive impressions and allow you to appreciate your bathroom once again. Having the same décor for years can really start to bore you, so make sure you keep updating and improving your bathroom.

Written by Stephanie Staszko on behalf of Bathshop321 who are online retailers of bathroom suites. You can follow Steph on Twitter @StephStaz for more home improvement based posts.

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Wednesday, 2 November 2011

House Prices Edge Up, But Set For Further Falls in 2012?

The latest figures from the Nationwide, released yesterday, showed that house prices edged up in October by 0.4%, meaning that prices are 0.8% higher than a year ago. Such a small change does nothing to change our view that house prices will remain subdued and porbably fall further in the short to medium term, particularly considering the on-going economic uncertainty in the UK and in the Eurozone.

Nicholas Ayra of Home Fusion said: "The housing market is hanging on for dear life" and that "the number of sales is paltry and the market is essentailly stagnating."

A Halifax survey, released today, shows weakining consumer confidence, with 30% of those surveyed predicting falling house price in 2012, while among home owners, the figure was 33%.Hamptons International forecasts falls of 2% in house prices next year.

With buyers remaining cautious and with vendors only selling if they really have to, sale volumes will remain at their very low level. And with the continued economic uncertainty, we can't yet see when a revival in the house market will occur.

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Thursday, 20 October 2011

Quick House Sale - Eleven Months Trying To Sell: An Offer from Quick Move in 7 Days

Quick Move Now just made an offer to a vendor who had been trying to sell his property in Doncaster for eleven months. When the open market didn’t provide the hassle-free solution or guaranteed sale he needed, he turned to quick house sale companies for the answer. Unfortunately, the company he initially spoke to charged him £500 up front and tied him in to an agreement for 6 months. When the gentleman approached us in April asking us to buy his house, he realised that the small print in the contract he had already signed prohibited him from selling to whoever he wanted and, therefore, he was unable to explore our service and sell within the timescales he required.

He subsequently contacted us again last week (as the agreement with the initial company had expired) and recounted his story: as well as the £500 start-up fee, he had been charged for legal fees and surveys which he had not had any feedback from, the company kept dropping the agreed price and, eventually, when the agreement was coming to an end, the company told him that they never had the cash funds to buy, had been trying to get a mortgage or find an interested investor and still didn’t have a buyer for his property after all. In the meantime, the gentleman had been unable to move or sell, the market had been falling and he lost valuable time and money.

When the vendor contacted us again last week, we were able to step in and fulfil his original hopes for an efficient, professional and certain sale. Following market research, we provided a likely level of offer for the gentleman on the same day. The next stage was to instruct two local Estate Agents who contacted him to find the most convenient time for them to value. We spoke to these Estate Agents and a number of others in the area and were then able to make a firm offer today, just seven days after we were asked to provide a figure.

The vendor incurred no cost and was not obliged to sell to us at any stage, leaving him free to explore the service and control the situation and timescales.

Quick Move Now covers Solicitor’s fees and vendors can avoid Estate Agent fees. As genuine cash buyers, we can offer an assured sale with flexible completion dates and a personal service tailored to suit each individual customer. If you are looking to sell your property and would like to find out more, Quick Move Now can be contacted on Freephone 0800 068 3366.

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