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Thursday, November 20
Dominic Farrell: Opportunities Are Everywhere - Become A Property Entrepreneur Now
by
Jet-to-Let Magazine
on Thu 20 Nov 2008 17:55 GMT
Dear Investor, I am now back in the UK and coming to terms with the weather! You should have now received Issue 6 of Jet-to-Let Magazine, unless you live in a remote part of the world, where I am told by subscribers that it can take up to a month ... more » Friday, November 14
London house prices to fall from 2007 peak
by
Jet-to-Let Magazine
on Fri 14 Nov 2008 14:47 GMT
LONDON (Reuters) - Prime central London house prices will fall 30 percent from peak 2007 levels before mounting a recovery in 2010 as economic sentiment and job security in the UK capital plunges, consultant Savills said on Friday. In a bearish revision on earlier estimates, Savills said London's prime house ... more »
Big fall in Scottish house prices
by
Jet-to-Let Magazine
on Fri 14 Nov 2008 14:38 GMT
Scottish house prices have suffered their biggest quarterly fall for at least 16 years, according to research by Lloyds TSB. The bank's Scottish House Price Monitor showed the average domestic property dropped in value by 4% in the three months to 31 October. It said the fall was the largest ... more »
The good news - house prices will rise again (and then they'll fall)
by
Jet-to-Let Magazine
on Fri 14 Nov 2008 10:50 GMT
In the mid-19th century, big names in the building business were failing. Developers on the Grosvenor Estate in Belgravia, London, such as Thomas Cubitt were in financial trouble and Thomas and Joseph Cundy went bankrupt. A speculative bubble in railway stocks burst in 1847, causing a great slump. No doubt, ... more » Wednesday, November 12
World's most mortgaged town: U.S. town where 90 per cent of homeowners owe £80,000 more than their houses are worth
by
Jet-to-Let Magazine
on Wed 12 Nov 2008 14:09 GMT
Mountain House in California has become the world capital of the credit-crunch – a town where 90 per cent of people live in properties with mortgages bigger than the value of their homes.
US eases loan repayment terms for homeowners
by
Jet-to-Let Magazine
on Wed 12 Nov 2008 12:15 GMT
Hundreds of thousands of American homeowners are to make lower mortgage repayments under a sweeping programme of loan renegotiations brokered by the US government to slow down the rate of property repossessions. Treasury officials yesterday announced a programme restricting repayments to 38% of household income for many borrowers. The arrangement ... more »
Squillionaires' Row defies the squeeze
by
Jet-to-Let Magazine
on Wed 12 Nov 2008 12:04 GMT
Prepare to be amazed. Three enormous houses in Hampstead with billionaire price-tags are being launched in London's depleted and depressed property market with as much chutzpah as if there had been no recession at all. Jersey House in The Bishops Avenue at £40 million, The Mansion and The Villa, both ... more »
New deal to bring property investors and struggling landlords together
by
Jet-to-Let Magazine
on Wed 12 Nov 2008 10:41 GMT
Buy-to-let landlords in the UK are being offered an escape plan from investments if they are struggling to cover their mortgage repayments. It comes after the latest Financial Stability Report from the Bank of England highlighted the threat to buy-to-let investors and suggested they were likely to face higher levels ... more » Tuesday, November 11
Housebuilder's sales plunge by 27%
by
Jet-to-Let Magazine
on Tue 11 Nov 2008 10:30 GMT
HOUSEBUILDER Taylor Wimpey today reported a 27 per cent plunge in house sales since the summer and warned there was no immediate end in sight for the UK property slump. The group said net reservations averaged 165 a week since July 1. Britain's biggest housebuilder - which owns the George ... more » Monday, November 10
Dominic Farrell: Bulgarian Property Prices Collapse As Investors Run For The Exit
by
Jet-to-Let Magazine
on Mon 10 Nov 2008 17:47 GMT
Dear Investor, I am writing this at 33,000 ft above the Mediterranean on my way back to Cyprus after a 1 day visit to London. The very noticeable change in temperature on arriving in the UK had me running to Marks and Spencer for a pullover and thermals after the ... more »
Fannie Mae posts record $29 billion loss in 3rd-qtr
by
Jet-to-Let Magazine
on Mon 10 Nov 2008 11:48 GMT
NEW YORK, Nov 10 (Reuters) - Fannie Mae, the largest provider of funding for U.S. residential mortgages, on Monday said it lost a record $29 billion in the third quarter as the company wrote down a tax-related asset that has buoyed capital and the housing slump deepened. The quarterly loss ... more »
Lenders could sidestep repossession rules
by
Jet-to-Let Magazine
on Mon 10 Nov 2008 11:44 GMT
Debt charities have criticised a High Court ruling, which has given mortgage lenders the green light to repossess homes of customers without needing to apply for a court order. The High Court supported a decision by GMAC-RFC, the mortgage lender owned by troubled US car giant General Motors, to take ... more »
Property in Yorkshire: A property game of two halves
by
Jet-to-Let Magazine
on Mon 10 Nov 2008 10:18 GMT
Hull and Beverley lie just seven miles apart in Yorkshire's East Riding, but they could be different worlds. While beverley was recently rated Britain's best place to live, Hull has been called the 'forgotten city'. But with Hull City rising to sixth in the Premier League and new partments sprining ... more » Saturday, November 8
UK landlords seeking to buy to take advantage of bargain property prices
by
Jet-to-Let Magazine
on Sat 08 Nov 2008 10:08 GMT
One in five landlords in the UK expects to buy more properties in the coming months, taking advantage of bargain prices, according to a survey. Although the current credit crisis has hit landlords in all kinds of ways including increased mortgage rates and falling prices, they are still generally optimistic ... more » Friday, November 7
Behind the news: The Bank of England statement in full
by
Jet-to-Let Magazine
on Fri 07 Nov 2008 11:31 GMT
The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 1.5 percentage points to 3 per cent. The past two months have seen a substantial downward shift in the prospects for inflation in the United Kingdom. There has been ... more »
Massive interest rate cut fails to lift stock market
by
Jet-to-Let Magazine
on Fri 07 Nov 2008 10:59 GMT
The largest interest rate cut for more than 25 years failed to prevent yet another sell-off by stock market investors yesterday, as the dramatic impact of a 1.5 percentage point reduction from the Bank of England was undermined by the worst housing market figures in living memory and a disastrous ... more »
New York: go downtown in the downturn
by
Jet-to-Let Magazine
on Fri 07 Nov 2008 09:45 GMT
The change promised by the new presidency cannot come too soon for the US housing market, which has been assailed by the sub-prime mortgage scandal and the bank failures and financial market storms that ensued from it. New York may not have suffered the same degree of catastrophic property falls ... more »
Housing market downturn likely to accelerate in 2009 says professor
by
Jet-to-Let Magazine
on Fri 07 Nov 2008 09:40 GMT
Investment landlords, the overall shortage of housing supply and the numbers now believed to be renting but waiting to buy, all suggest that there would be a fast recovery in the housing market. However, prospects for the recovery look grim. This is the view of Peter Bolton King, Chief Executive ... more » Thursday, November 6
Base rate cut shows complexity of modern economy is lost on Brown
by
Jet-to-Let Magazine
on Thu 06 Nov 2008 17:01 GMT
It's been forgotten in the ensuing credit crisis, but as recently as July last year Gordon Brown was calling for more long-term fixed rate mortgages as a way of controlling house prices. If he’d taken his own advice and bought a 25-year fixed rate loan, the sort of thing he ... more »
European Central Bank Lowers Benchmark Interest Rate to 3.25%
by
Jet-to-Let Magazine
on Thu 06 Nov 2008 09:27 GMT
The ECB cut rates by 50 bp, with the key refi rate now at 3.25%. This was in line with consensus expectations, but there had been some speculation of a bolder move, especially after the BoE cut rates by a massive 150 bp earlier today. As usual there was no ... more »
Property lobby groups welcome Planning Bill rethink
by
Jet-to-Let Magazine
on Thu 06 Nov 2008 09:20 GMT
Lobby groups have today welcomed a change to the Planning Bill that removes a link between the level of the new community infrastructure levy (CIL) and the increase in land value once planning permission has been granted. The link had been opposed by the likes of the British Property Federation, ... more » Wednesday, November 5
First-time buyers 'benefiting from more affordable housing market'
by
Jet-to-Let Magazine
on Wed 05 Nov 2008 17:15 GMT
The number of people on modest incomes buying their first home has jumped by 16% during the past four months, figures showed today. Spicerhaart Financial Services said the increase in purchases by first-time buyers earning less than £40,000 suggested property was becoming more attainable at the lower end of the ... more » Tuesday, November 4
UK construction sector shrinks at record pace in Oct
by
Jet-to-Let Magazine
on Tue 04 Nov 2008 17:08 GMT
LONDON (Reuters) - Britain's construction sector shrank last month at its fastest pace since records began more than a decade ago after falling house prices and tight credit took their toll, a survey showed on Tuesday. The Chartered Institute of Purchasing and Supply/Markit construction index fell to 35.1 from 38.8 ... more » Monday, November 3
Property sales slump by 50pc
by
Jet-to-Let Magazine
on Mon 03 Nov 2008 17:06 GMT
The number of property sales recorded by HM Revenue & Customs in September plunged to just 59,000 from 126,000 last year. The figures cover property sales across the UK worth £40,000 or more. "September was the first month following the Chancellor's change to the stamp duty threshold," said Henry Pryor, ... more »
HBOS takes 5.2 billion pound hit
by
Jet-to-Let Magazine
on Mon 03 Nov 2008 16:39 GMT
LONDON (Reuters) - Home lender HBOS Plc doubled its hit from toxic assets and bad loans to over 5 billion pounds on Monday and its takeover partner Lloyds TSB warned of a sharp fall in profits. Lloyds also said it plans to writedown assets held by takeover target HBOS by ... more » Sunday, November 2
Want to avoid the negative equity trap? Build your own home
by
Jet-to-Let Magazine
on Sun 02 Nov 2008 15:54 GMT
For years, the term "negative equity" barely featured in the vocabulary of the modern homeowner. But things have changed. The Bank of England revealed last week that 1.2 million homeowners are likely to find themselves trapped in a home worth less than the mortgage secured against it as prices continue ... more »
Gazundering is back With prices plunging,it's a buyer's market and the gazunderers are out in force
by
Jet-to-Let Magazine
on Sun 02 Nov 2008 13:39 GMT
Rick and Carrie Horne had it all planned. He had just accepted a promotion in Plymouth, another baby was on the way, and they were moving to a perfect family home in Newton Abbot, 35 miles away. Then everything came crashing down: the day the couple were due to exchange ... more » Saturday, November 1
Supply of properties to let in London starting to outweigh demand from tenants
by
Jet-to-Let Magazine
on Sat 01 Nov 2008 16:52 GMT
The London lettings market will remain fragile in 2009 and it is inevitable that more tenants will default. This is the view of Judienne Wood, lettings director at Kinleigh Folkard & Hayward, who on the plus side also believes that London investments are likely to perform better. She said: “In ... more » |
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