08/02/2012 00:00:00
Looking for the best cities for buy to let property investment opportunities? The Global Property Guide has highlighted 20 of the world’s best buy to let cities. Forget the usual suspects of London property and Paris property. This list is full of not-so-little surprises including Jakarta in Indonesia and Managua in Nicaragua.
Without further ado, here are the world’s top 20 cities for buy to let property...
- Lima, Peru
- Panama City, Panama 2
- Amman, Jordan 3
- Bogota, Columbia 4
- Montevideo, Uruguay 5
- Skopje, Macedonia 6
- Sao Paulo, Brazil 7
- Budapest, Hungary 8
- Santiago, Chile 9
- Bahamas 10
- Kuala Lumpur, Malaysia 11
- Marrakesh, Morocco (12)
- Bangkok, Thailand (13)
- Managua, Nicaragua (14
- Grand Cayman, Cayman Islands
- Auckland, New Zealand
- Istanbul, Turkey
- Amsterdam, The Netherlands
- Chinisau, Moldova
- Jakarta, Indonesia
As you can see from the list above, some of the worlds best buy to let property is not located in Europe. Apart from Amsterdam property, Istanbul property and Budapest property, the list is dominated by non-European locations. Sao Paolo in particular is regarded as one to watch for the future. This Brazilian city is fast becoming a cultural and shopping destination giving Dubai a run for her money. Istanbul property is also enjoying a renaissance.
Redevelopment projects are being implemented that are sympathetic to the rich history and heritage of old Constantinople. Here, you’ll find everything from trendy rooftop bars and chi-chi clubs and restaurants to awe-inspiring mosques, Byzantine cisterns and fabulous bazaars. Property prices haven’t hit the highs just yet so now could be a good time to invest in a second pad in Istanbul.
Browse the My Homes Unlimited listings for property investment opportunities abroad.
08/02/2012 00:00:00
Are we about to see the return of 100% mortgages? Over the past few weeks, there have been a couple of reports of lenders slowly starting to reintroduce higher loan to value products. Most of these have been 80 and 90% mortgages but Aldermore is currently leading the pack with a proposed new 100% LTV mortgage.
The news will be welcomed by those currently priced out of the London property market, where high deposit requirements mean most are stuck with renting.
However, it appears there’s a twist to this particular 100% mortgage, the second Aldermore has launched over the past year. It’s still not as easy as it was back in 2005 to secure a high loan to value mortgage! There are conditions in place that make this parent-based mortgage unique. It’s essentially their Family Guarantee Mortgage with a twist.
The potential borrower’s parent or guardian must deposit savings with Aldermore instead of accepting a charge on their property. Aldermore has confirmed that it will pay a competitive rate of interest on the savings. When the mortgage LTV falls to a specified amount (probably around 75%) the money will be transferred back to the guarantor.
Charles Haresnape, managing director of residential mortgages at Aldermore remarked:
“We see this as giving parents another option, so if they don’t want to gift a deposit to their child or put a charge on their property, they can put their savings with us in lieu of a deposit and still retain ownership of them.
This is Aldermore looking at different options for first time buyers and doing its bit to send out a positive message to consumers and help revive the first time buyer market.”
Applicants must produce two months’ bank statements, have a clean credit history and complete an assets and liabilities statement.
Sources: Mortgage Strategy, Aldermore.
08/02/2012 00:00:00
Searching for flats to buy in Ilfracombe? This North Devon Victorian coastal town combines all the appeal of living by the sea with reasonable property prices. Ilfracombe may not be as popular as its sister town of Woolacombe but you’ll get more for your money here and the area is highly likely to become a full-blown property hotspot if the redevelopment and gentrification plans come to fruition.
If you’re interested in up-and-coming locations, flats to buy in Ilfracombe are well worth a look.
The vast majority of flats to buy in Ilfracombe are period conversions and those situated in purpose built blocks.
There are currently flats to buy in Ilfracombe to suit wide range of budgets. The town is dominated by Victorian and Edwardian terraces, so you can expect high ceilings and period features.
Flats to buy in Ilfracombe under £100k
Here’s the good news – prices start at around £60k for one bedroom properties. There are currently a number of one bedroom flats to buy in Ilfracombe that are well appointed and conveniently located.
Many flats are in buildings along the High Street but there are also plenty in the streets towards the seafront. Wilder Road is a good place to start if you want a flat overlooking the ocean. Prices are a little higher here – around £75k.
However, you’ll be a stone’s throw from the sea, the excellent theatre and some fabulous pubs and remarkably good restaurants.
Fore Street is another popular area of town. If you’re looking for flats to buy in Ilfracombe and have around £80k to spend start your search here. Torrs Park is ideal if you want a quiet, convenient location and parking.
Two bedroom flats start at around £75k. There are a number of brilliant period conversions for sale at the moment. Check out Highfield Road for starters.
A little further down the road you have Hele Bay, which is great for those looking for beauty and seclusion.
Browse the My Homes Unlimited listings for a variety of flats to buy in Ilfracombe.
08/02/2012 00:00:00
Hunting for two bedroom flats to buy in Cardiff? The capital of Wales is also her largest city and is famous for everything from the university to rugby and Doctor Who. It’s also considered one of the world’s most attractive tourist destinations.
Here, you’ll find everything from the ancient Cardiff Castle to super trendy bars, clubs and restaurants.
Two bedroom flats to buy in Cardiff come in all sorts of shapes, sizes and styles and suit a variety of budgets.
Prices start at around £70k. It’s a city of contrasts. On one hand there are economically disadvantaged areas such as Elyand Llandaff. On the other, there are super desirable areas such as Cardiff Bay and Culverhouse Cross.
Two Bedroom Flats to Buy in Cardiff under £100k
If you’re in search of two beds priced under £100k there are quite a number to choose from.
The least expensive two bed flats are situated in areas such as Riverside, St Mellon and Pentwyn and start at around £70k.
Moving up a level you have areas such as Grangetown, more desirable but not on a par with the aforementioned Culverhouse Cross. Here, you’ll find spacious period conversions for around £87k.
Grangetown is also well worth a look if you’re looking for two bedroom flats to buy in Cardiff for around £90k.
New Builds
There are a number of new builds for sale. If you want to live in Cardiff Bay, you can expect to pay at least £125k for a two bed new build. For a new build flat overlooking Mermaid Quay, prices start at around £150k. Those interested in living in Cardiff city centre can also expect to pay £150k for a two bed flat in a converted building.
Browse the My Homes Unlimited listings for two bedroom flats to buy in Cardiff that suit a wide range of budgets.
08/02/2012 00:00:00
Looking for property to rent in Exeter? Devon’s capital is a cathedral city that balances history and heritage with more modern amenities and attractions. Here, high street shops sit alongside art house cinemas and theatres. It’s a diverse and lively place that blends city and country life very well. Thanks to the university, there’s plenty of student friendly property to rent in Exeter. However, that’s not to say the city is dominated by student accommodation.
Choose between new builds, period properties, cottages and former local authority homes. Prices start at around £350pcm for a one bedroom property to rent in Exeter.
Student Property to rent in Exeter
Thanks to the city’s profusion of large terraced properties, there are plenty of house shares available. King Edward Street and Portland Street are both popular locations. Here, you’ll find a room to rent for around £75 per week.
Period property to rent in Exeter
There are plenty of period conversions to choose from, including Victorian terraces and Art Deco conversions. The St Anne’s Well Brewery is a brilliant place to start. There are fabulous four bedroom flats to rent in this gorgeous Grade II listed building. You may also want to consider a one bedroom cottage or a fabulous flat in the village of Kenn for around £500pcm. If you want property to rent in Exeter close to the main railway station, you can expect to pay around £550pcm for a one bedroom flat.
Two bedroom properties
There are plenty of two bed terraced houses to rent. You can expect to pay £700pcm for a spacious two bed Victorian terrace a mile from Exeter Central station. Check out May Street and Linden Vale for starters.
Three bedroom property to rent in Exeter starts at around £850pcm. Browse the My Homes Unlimited listings for property to rent in Exeter to suit a wide range of budgets.
06/02/2012 00:00:00
The Nationwide made a bold claim on Monday January 30th. The high street building society claimed it was ‘serious’ and supporting first time buyers who are looking to purchase UK property.
Furthermore, the lender said that it’s currently doing more for FTBs than any other mortgage lender.
Today (Feb 1st), The Nationwide will launch a huge advertising campaign to cover TV, radio, print and online. Their aim is apparently to make lending more accessible by linking savings to borrowing, supporting affordable housing schemes and guiding first time buyers through the entire mortgage process.
Martyn Dyson, head of mortgages at Nationwide, commented:
“We are serious about supporting the housing market and a key part of this is helping new home owners realise their dreams by getting their foot on the housing ladder.
From our unique Save to Buy and limited liability guarantor mortgages to our online guides, we really are doing more than any other lender to support first time buyers through discounted fees and active support for affordable housing schemes. In fact, once every six minutes we help someone buy their first home.
With the launch of these new commitments we hope more people will be aware of the opportunities out there for good quality buyers who are able to save at least a 5% deposit, although there is plenty of doom and gloom around in the housing and mortgage market.”
According to Your Mortgage, this is the first time in five years that Nationwide has advertised its mortgage products on TV. The aim of the campaign is to raise awareness and inform first time buyers about their options for purchasing a first home.
Sources: Property Wire, Nationwide, Your Mortgage.
06/02/2012 00:00:00
Surrey property is generally regarded as highly desirable. However, there are always a couple of exceptions to the general rule. In this case it’s the Windlesham property Updown Court, dubbed the ‘tackiest house’ in Britain and ‘the house of horrors’. Located around five miles from Ascot, it certainly makes an impression!
Updown Court is a Surrey property that’s larger than most – it beats Buckingham Palace and Hampton Court in the size stakes – and boasts 50,000 square feet of floor space. It’s a 103-room, 27-bathroom mansion that carries the description; ‘a touch of California in the rolling fields of Surrey’. It comes complete with heated marble driveway, 24 carat gold mosaics, a banqueting hall, a panic room, an underground squash court, a bowling alley, ancillary air conditioning and 58 acres of landscaped gardens.
The property’s many smart features can be controlled via laptop from literally anywhere in the world.
However, the crowning glory has to be the indoor pool – located in the master bedroom. Where else?
Updown Court has been on the market for a whopping six years. Unlike most luxury Surrey property, it attracted a number of buyers but none were willing to take the plunge and buy Britain’s most expensive property. It was originally on the market for a cool £70m. Since 2008, the price has been reduced to £53million, then £40m. The original owner reportedly couldn’t afford to fund the debt to the lender, Irish Nationwide.
In the end, it sold through auction for a mere £36million, just over half its original selling price. The buyer is thought to be a Middle Eastern businessman.
According to The Telegraph, the Surrey property has appeared in the film Green Zone and an episode of BBC spy drama series Spooks.
When all was said and done, Britain’s most expensive home turned into Britain’s biggest repossessed property. Oh, the irony!
Source: Telegraph.
06/02/2012 00:00:00
According to reports in The Guardian, the UK housing market was sluggish in January. With the exception of the London property market, house prices were flat. November and December saw a decline of 0.2% according to figures collected by Hometrack. Furthermore, the property analysis firm has confirmed that national prices have not increased on a monthly basis for 18 months. Their research was based on information supplied by 1,500 estate agents and surveyors.
The London property market recorded small overall rise in house prices. However, it could be argued that this was simply a consequence of rising prices in the luxury London property market rather than a rise across all areas of the capital. However, it is hoped that the 2012 Olympics will continue to attract international investors looking for alternatives to the stock markets.
Richard Donnell, director of research at Hometrack, told The Guardian that the UK property market is currently “dogged by uncertainty”.
“London looks set to buck the national trend again in 2012, thanks to overseas buyers providing a boost to prices in London’s prime areas. Elsewhere, demand seems constrained by the uncertain economic outlook. Some agents have reported an increase in down-valuations as surveyors exercise growing caution.”
The London property market is currently performing better than anywhere else but Southern England reportedly saw the biggest decline in demand during the last six months of 2011.
Hometrack’s figures also revealed the length of time a property typically remains on the market in different regions. Guildford is doing well at 5.2 weeks, along with Bristol at 5.9 weeks. London property typically sells after 6.5 weeks. Stoke property and homes located in Newport, Carlisle and Lincoln all take around three months to sell.
Source: The Guardian.
06/02/2012 00:00:00
According to reports on The Guardian website, around 200,000 homes in England and Wales could have problems getting decent flood insurance after June 2013. Owners (and potential owners) of Boston property and Skegness property are being warned to be particularly careful when it comes to flood insurance. Around 7,550 homes are apparently under threat in these areas.
However, Boston property and Skegness property aren’t the only homes at significant risk of flooding. According to the latest figures, Folkestone and Hythe property, Windsor property and Vale of Clwyd property is also at risk.
In June 2013, the insurance industry’s voluntary flood agreement with the government will come to a close. Data from the Environment Agency has led the Association of British Insurers to confirm that 1,000 homes will be at high flood risk.
The agreement between insurers and the government has been in place since 1961. Now, an argument is raging over who is responsible for funding the flood defences to protect the UK’s 5million homes at risk. After June 2013, owners of Boston property, Skegness property and other areas at risk may find it incredibly difficult to get cover.
Andrew Webb of Esure told The Guardian:
“The government of the time (1961) said government would be responsible for flood defences and in turn the insurance industry would include flood cover as standard. At the end of the 1990s it was becoming clear that the government’s side of the equation was not being met – and will not be met in future.”
At present, insurers are obliged to include flood cover as standard for homes built before 1 January 2009 with a low risk of flooding. They must also allow households at risk who already have flood cover to renew it with the same insurer – on the condition that flood defences are planned to be in place within five years. As of June 2013, it looks like that condition is highly unlikely to be in place.
Source: The Guardian.
06/02/2012 00:00:00
Hunting for flats to buy in Luton? This Bedfordshire town combines excellent travel links with reasonable monthly rents.
Luton may not exactly be bursting with charm but it’s a good choice for those who need easy access to the capital and are interested in amenities and convenience.
The vast majority of flats to buy in Luton are new builds, ex-local authority homes and Victorian houses. There are flats to buy in Milton Keynes to suit a wide range of budgets.
Flats to Buy in Luton under £100k
If you’re in search of flats priced under £100k, there are a number to choose from. Prices are higher here than in some other areas of Bedfordshire because of the travel links. However, there are some bargains waiting to be snapped up, including a one bedroom flat converted from an old pub for around £65k. There’s also currently a spacious two bedroom flat for sale for £100k that’s under half a mile from Luton rail station.
New Build Flats to Buy in Luton
There’s a good selection of new build and converted flats to buy in Luton.
If you want to purchase a property outright be prepared to pay at least £115k. If you want to live in a new development with interesting features, take a look at Hatton Place in the town centre. Two bedroom flats boast exposed brick walls, open plan spaces, in-built kitchen appliances and a sun terrace for £115k.
You may also want to consider a mews property. There’s currently a great little two bedroom mews for sale located just off Old Bedford Road for £124k.
The amenities are excellent. You certainly won’t want for shopping and leisure facilities. There’s also an amazing selection of restaurants offering English, Italian, Caribbean, Chinese, Malaysian and Thai cuisine thanks to the town’s diverse ethnic population. Luton airport offers international flights and the rail service to London is fast and frequent. You’ll also enjoy easy access to Bedfordshire’s green spaces, such as the Chiltern Hills and Wardown Park.
Take a look at the My Homes Unlimited listings for flats to buy in Luton.