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Thursday, September 25
Irish economy goes into recession
by
bewarethesharks
on Thu 25 Sep 2008 13:38 BST
The Irish Republic's economy has fallen into recession after shrinking for a second quarter in succession. The Central Statistics Office (CSO) said gross domestic product (GDP) had contracted by 0.5% in the three months to the end of June. The economy had shrunk by 0.3% in the first quarter of ... more » Tuesday, September 23
Dominic Farrell: Shares or Property and 30% Yearly Returns?
by
bewarethesharks
on Tue 23 Sep 2008 10:45 BST
Dear Investor,
Last week was a good reminder of the long-term benefits of investing in property and the disadvantages of relying upon the stock market to increase your wealth. In 1997, the FTSE 100 stood at 6150 whilst today at the time of writing (and after an 8.8% rise on ... more » Thursday, September 11
US mortgage rates weekly drop most in over 28 yrs
by
bewarethesharks
on Thu 11 Sep 2008 15:41 BST
Interest rates on U.S. 30-year fixed-rate mortgages fell by 0.42 percentage point in the latest week, the biggest weekly drop in more than 28 years, according to a survey released on Thursday by home funding company Freddie Mac. The drop, which drove 30-year fixed rates to an almost five-month low, ... more » Tuesday, September 9
Dominic Farrell: Duncan Bannatyne, Entrepreneurship and Construction of The Grove Begins
by
bewarethesharks
on Tue 09 Sep 2008 10:51 BST
Dear Investor,
I am now back after an extended summer break, refreshed and looking forward to an exciting final quarter of 2008. I would like to welcome two new members of staff. Alun Jones, a former Royal Marines Commando who has served in operations worldwide, has joined Henry’s team at ... more » Monday, September 8
Lender HSBC cuts mortgage rates
by
bewarethesharks
on Mon 08 Sep 2008 10:49 BST
Bank HSBC said it is lowering interest rates for its fixed-rate mortgage loans in response to a fall in funding costs. HSBC, the country's biggest bank by market capitalisation, is from Monday cutting its standard two, three and five year fixed-rate loans by 0.56 percentage point to 6.27 percent. The ... more » Monday, September 1
Accountants confirm effect of UK economic downturn
by
bewarethesharks
on Mon 01 Sep 2008 17:55 BST
One in five UK accountants have confirmed that their clients have been refused credit or had funding restrictions imposed in the light of the credit crunch. The findings, from a survey conducted by Invoice and Asset Based Lender, Venture Finance, provide the first real evidence that UK SMEs are starting ... more »
Recession fears push pound down
by
bewarethesharks
on Mon 01 Sep 2008 16:45 BST
The pound has hit a record low against the euro and a two-year low against the dollar amid fresh fears about the UK sliding into recession. Gloomy housing and manufacturing data and comments from the Chancellor about the UK's economic woes are to blame for the pound's decline, traders said. ... more » Wednesday, August 27
Mortgage lending figures give some hope
by
bewarethesharks
on Wed 27 Aug 2008 16:29 BST
The number of new mortgages agreed by leading banks edged higher last month, raising hopes that the worst of the drought in the home-loans market may have passed. A total of 22,448 loans for house purchase, rather than remortgaging, were approved by banks during July. Although this was still a ... more » Saturday, August 23
Buildings razed turning British cities into 'bombsites'
by
bewarethesharks
on Sat 23 Aug 2008 16:17 BST
The levy on empty shops, offices and warehouses, which was introduced in April, is aimed at landlords who left buildings deliberately empty as they waited for rents to rise. It intended to reduce rents, raise property supply and earn the Treasury almost £1 billion in tax. Opponents of the tax ... more » Friday, August 22
Persimmon fury at stamp duty delay
by
bewarethesharks
on Fri 22 Aug 2008 16:08 BST
HOUSEBUILDER Persimmon yesterday blamed Government dithering over stamp duty for the creation of more confusion in the now stagnant housing market. Chief executive Mike Farley said the failure of the Government to announce firm plans for deferring stamp duty had “caused further delay and uncertainty” in a market suffering the ... more » Wednesday, August 20
Cities best for student landlords
by
bewarethesharks
on Wed 20 Aug 2008 16:04 BST
The city of Durham offers the best returns to landlords investing in student property with annual yields of nearly 14 per cent, research showed today. Despite Durham having one of the smallest student populations in the UK, the city's relatively low house prices combined with its high rents enables landlords ... more » Monday, August 18
Overseas buyers eye London office bargains
by
bewarethesharks
on Mon 18 Aug 2008 15:53 BST
Cash-rich international property investors are flocking to London to snap up discounted office buildings in deals that could plumb new depths for Britain's stricken property market, sources told Reuters on Monday.
U.S investment manager Atlantic Property Partners has offered around 190 million pounds to buy 88 Wood Street in the ... more » Friday, August 15
Councils push to become mortgage lenders
by
bewarethesharks
on Fri 15 Aug 2008 15:50 BST
NLGN has been campaigning for local authorities to be able to offer financial support to those affected by the credit crunch. It hopes this would stave off repossessions and evictions, prop up the housing market to prevent remortgage difficulties and support first-time buyers to buy locally. Currently, the NLGN is ... more »
Tenants sitting pretty as rents fall
by
bewarethesharks
on Fri 15 Aug 2008 15:44 BST
Rents will fall by up to 10% this year, according to some of Britain's biggest letting agents, as a wave of properties that owners and developers can't sell have started to flood the rental market. The fall in rents will bring welcome relief to tenants but will squeeze buy-to-let landlords ... more » Wednesday, August 13
Credit crisis halfway over "at best"
by
bewarethesharks
on Wed 13 Aug 2008 15:18 BST
A year-long credit crisis may be only halfway over and defaults of prime mortgages and problems at U.S. bond insurers are expected to exert a drag on future bank earnings, Standard & Poor's said on Wednesday.
Defaults and late payments for mortgages known as Alt-A securities and prime mortgages are ... more » Monday, August 11
Student rents rise by a fifth
by
bewarethesharks
on Mon 11 Aug 2008 15:11 BST
Experts have blamed the credit crisis for the market's woes, saying many landlords are now opting to rent to young professionals who cannot afford to get on the property ladder. The capital remains the most expensive place to live, while the best value towns are Middlesbrough, Stoke, Wolverhampton, Crewe and ... more » Saturday, August 9
Sales halted by uncertainty, say estate agents
by
bewarethesharks
on Sat 09 Aug 2008 15:04 BST
Estate agents have warned that the government's refusal to commit to suspension of stamp duty on house purchases is leading to a freeze in house sales as potential buyers hesitate until any tax changes are announced. But ministers and Whitehall officials yesterday closed ranks against calls for a stamp duty ... more » Friday, August 8
Repossessions rise by 41%
by
bewarethesharks
on Fri 08 Aug 2008 14:56 BST
The number of homeowners having their properties repossessed jumped by 41% in the first half of this year to its highest level in 12 years, figures showed today. The Council of Mortgage Lenders (CML) said 18,900 properties had been taken into possession by lenders over the six months to June, ... more » Wednesday, August 6
Fast not slow at Northern Rock
by
bewarethesharks
on Wed 06 Aug 2008 14:51 BST
February 2008 was a bad month to buy a bank, even if the purchase price was zero and you had £27bn of loans to protect. Given the slump in the housing market, the government's "investment" in Northern Rock, the mortgage lender it had to nationalise after a depositor run last ... more »
Dominic Farrell: Investor Weekends and Holidays – See You in September
by
bewarethesharks
on Wed 06 Aug 2008 10:55 BST
Dear Investor Our hectic half year comes to an end this week as we wind down for the summer break and look forward across the Group to a well deserved rest. The team was in London and Surrey for 4 days last week and spoke with over 130 new investors ... more » Tuesday, August 5
Chancellor considering stamp duty deferment plan
by
bewarethesharks
on Tue 05 Aug 2008 14:30 BST
Alistair Darling, the chancellor, is considering a plan to allow people to defer paying stamp duty when they buy a home. He is committed to bringing forward proposals later this year to kick-start the flagging housing market, and one option would be to allow buyers to put off paying stamp ... more » Friday, August 1
Picturesque second homes come onto market as property prices fall
by
bewarethesharks
on Fri 01 Aug 2008 13:32 BST
Slumping house prices are rejuvenating the property market in picturesque locations as city dwellers sell off their second homes, according to estate agents. In recent years houses in many fashionable rural and coastal areas have become so popular as investments that very few changed hands. But the economic downturn over ... more » Wednesday, July 30
HSBC latest to cut mortgage rates
by
bewarethesharks
on Wed 30 Jul 2008 13:13 BST
HSBC has become the latest mortgage lender to cut its rates following a drop in wholesale funding costs. The group is reducing its two-year fixed rate mortgage by 0.31%, while longer term fixed rate loans are being cut by 0.16%. It is also cutting the booking fee ... more » Monday, July 28
Spanish house sales dive by 34%
by
bewarethesharks
on Mon 28 Jul 2008 13:05 BST
The value of Spanish coastal properties, home to thousands of British expatriates, are heading for freefall, figures suggestA further nail has been hammered into the coffin of the Spanish property boom as figures revealed a one-third fall in house sales and analysts predicted a slump in prices. The statistics ... more » Saturday, July 26
Rich look abroad for buy-to-let loans
by
bewarethesharks
on Sat 26 Jul 2008 13:16 BST
Wealthy buy-to-let property investors are bypassing mainstream UK lenders to take advantage of the more favourable terms provided by some foreign banks. Mortgage brokers said property buyers were preparing to re-enter the housing market as they felt prices did not have too much further to fall. But investors looking for ... more » Wednesday, July 23
Dominic Farrell: Beat The Credit Crunch - 7% Yield for 9 Years in Booming Marrakech
by
bewarethesharks
on Wed 23 Jul 2008 10:57 BST
Marrakech Investor Weekend Diary “Riads of the Medina” Thursday 17th July 2008 The 6.45am easyJet flight from London Gatwick to Marrakech was all the more pleasant sitting in a great seat with lots of legroom with the aid of “speedy boarding plus”. The flight was full and the cabin staff ... more » Monday, July 14
Dominic Farrell: Investors Shrug Off the Credit Crunch and Buy 61% of The Palm Spa Resort on Release
by
bewarethesharks
on Mon 14 Jul 2008 11:01 BST
Investors have shrugged off concerns about the credit crunch to snap up 5-star properties in the new Palm Spa Resort in Cyprus. Developed by Liverpool-based InvestinCyprus.com Developers, The Palm Spa Resort was launched at a party in The Gallery of The Hard Days Night Hotel in Liverpool to a packed ... more » Wednesday, July 9
Dominic Farrell: Property Entrepreneur Programme and Sell Your Property Quickly
by
bewarethesharks
on Wed 09 Jul 2008 11:03 BST
Dear Investor,
It’s been almost 3 weeks since the last e-newsletter, although we have packed in a lot in that time. The team has been very busy with Investment Strategy Meetings around the UK and Ireland and preparing for the launch of The Palm Spa Resort on Thursday 10th July ... more » Monday, June 23
Property Investors Unfazed By the Credit Crunch & Still Buying Property Abroad
by
bewarethesharks
on Mon 23 Jun 2008 09:15 BST
Experienced investors aren’t fazed by the credit crunch and still intend to buy property, especially in foreign markets, the Jet-to-Let Magazine Annual Conference survey has revealed. The Jet-to-Let Magazine 2008 Annual Conference recently took place at The Hilton Metropole in Thursday, June 19
Dominic Farrell: Beware the inflation risk to cash balances
by
bewarethesharks
on Thu 19 Jun 2008 11:07 BST
Dear Investor
We are all now back after a long weekend of rest which my staff thoroughly deserved after a hectic few months with property sales, strategy meetings and the Jet-to-Let Magazine Annual Conference. I spent a few days in the west of Ireland and am now back in Liverpool ... more » Wednesday, June 11
Dominic Farrell: 48% Capital Growth in 22 months and Jet-to-Let Finance
by
bewarethesharks
on Wed 11 Jun 2008 11:10 BST
Dear Investor
Wow, what a weekend! It was great to see so many familiar as well as new faces at the Jet-to-Let Magazine Annual Conference in London this weekend. The conference provided insight into the credit crunch and how to get around it, the prime investment countries and regions for ... more » Sunday, June 8
Banks are only as safe as houses
by
bewarethesharks
on Sun 08 Jun 2008 16:49 BST
As mortgage lenders struggle to shore up their balance sheets, a new crisis may be on the way from the buy-to-let market House prices are already falling by more than 25 per cent a year. That is the figure the experts at M&G have come up with by extrapolating the ... more » Thursday, June 5
Abbey increases mortgage rates and Egg quits mortgage business
by
bewarethesharks
on Thu 05 Jun 2008 14:44 BST
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