Interview with Royal Institute of Chartered Surveyors (RICS) Economist

May 30th, 2019 by Ruban Selvanayagam

A big thanks to economist Tarrant Parsons from the Royal Institute of Chartered Surveyors (RICS) who kindly took the time to answer some of our questions below. We explored sluggish market growth, regional trends, the impacts of the Brexit delay, advice for property investors, over-inflated estate agency valuations, interest rate rise risks and the future of the buy and build to let sectors… Over the last year or so, the RICS monthly residential reports have consistently shown sluggish growth. Apart from the obvious political uncertainty, are there any other reasons you would attribute to this somewhat subdued market? Alongside political uncertainty, challenges around affordability have, in many parts of the country, also played a significant role in holding back housing market activity over the past year. Strong price growth over previous years has left measures of affordability more stretched than ever... [Read More]

How to Buy Repossessed Houses

May 8th, 2019 by Ruban Selvanayagam

Repossession is essentially when a mortgage lender takes possession of a property after a borrower defaults (i.e. misses payments). In property circles, acquiring repossessed houses is often equated to automatically picking up ‘bargains’. Whilst there may be an element of truth in this, it certainly doesn’t mean that you should overlook the investment credentials and assess the associated risks. Buying Houses Pre-Repossession Acquiring a property prior to the point at which a mortgage lender takes possession is a common strategy adopted by ‘quick house sale’ companies like our own (Property Solvers). Vendors facing the prospect of repossession come to us via our direct marketing efforts in search of a potential solution to what can be a complex predicament. Yet, sadly, there have been a handful of firms in our space that have been known to take advantage of people in such distressed situations.... [Read More]

Property Investor’s FactFile – May 2019

May 1st, 2019 by Ruban Selvanayagam

As we move towards the summer months, the market has been able to take a temporary breath after the Brexit extension. The chances of kicking the proverbial can further down the road are now more limited. It's arguable that it's only once we officially leave the Union that the true impacts on property will be truly felt. In the meantime, although few are envisaging any major downturn, things are clearly showing signs of adjustment as sellers are forced to be more realistic. As the third and penultimate phase of Section 24 of Finance (No. 2) Act 2015 came into force at the start of the new tax year, it's never been more important for landlords to keep tabs on their monthly outgoings. Although a year old, I would encourage you to run through our Section 24 post where 23 professional accountants, mortgage brokers and financial advisors gave their indispensable insights. [Read More]