Home Move: property forum

Home Move: property forum http://www.homemove.co.uk/forums/ UK Housing Markets discussion forums en Wed, 22 May 2013 19:04:12 GMT vBulletin 60 http://www.homemove.co.uk/forums/images/misc/rss.jpg Home Move: property forum http://www.homemove.co.uk/forums/ 3 bed terrace for swap Nottingham - swap for Fife, Scotland http://www.homemove.co.uk/forums/3-bed-terrace-for-swap-nottingham-swap-for-fife-scotland-6918.html Wed, 22 May 2013 12:30:41 GMT Hi, I am looking for a house exchange for my 3 bed terraced in Nottingham for a property in Fife, Scotland. I already have listed the advert... Hi,

I am looking for a house exchange for my 3 bed terraced in Nottingham for a property in Fife, Scotland.

I already have listed the advert on the obvious places (e.g gumtree, fridayads, preloved etc), can anyone else help me out in regards to where to advertise the property?

Thanks ]]> Selling Property bampoisongirl http://www.homemove.co.uk/forums/3-bed-terrace-for-swap-nottingham-swap-for-fife-scotland-6918.html Hi Everyone ! http://www.homemove.co.uk/forums/hi-everyone-6916.html Wed, 22 May 2013 06:56:15 GMT Hi! How are you all members? My name is Thomas Jacusy and I am 25 years of age. I belong from USA and live in New York....... This is my first post... Hi! How are you all members?
My name is Thomas Jacusy and I am 25 years of age. I belong from USA and live in New York....... This is my first post to this board and I hope that would be really helpful for me to be in this board. Thank you and regards. ]]> General Chat Thomas Jacusy http://www.homemove.co.uk/forums/hi-everyone-6916.html Does real estate investing really make people rich? http://www.homemove.co.uk/forums/does-real-estate-investing-really-make-people-rich-6915.html Wed, 22 May 2013 04:37:12 GMT There are some people who get incredibly wealthy through stocks and some other people who do not. For the people who don’t succeed, is it that ... There are some people who get incredibly wealthy through stocks and some other people who do not. For the people who don’t succeed, is it that stocks don’t work or that the people using them don’t all possess the right knowledge and skills?

It’s funny because every man is a “self made man,” it’s just only the rich who admit to it. The wealthy are what they are because they have applied knowledge that works. Studies repeatedly conclude that over 90% of wealthy
individuals have become wealthy through real estate. Does it really work? It works better than any other system of business to produce wealth with the right knowledge and skills. ]]> Property Development renatusus http://www.homemove.co.uk/forums/does-real-estate-investing-really-make-people-rich-6915.html Self Employed Mortgages 2013 http://www.homemove.co.uk/forums/self-employed-mortgages-2013-a-6914.html Tue, 21 May 2013 22:36:50 GMT I come across a lot of clients who are self employed and are struggling to obtain a mortgage in 2013. Here are a list of the typical issues they... I come across a lot of clients who are self employed and are struggling to obtain a mortgage in 2013.

Here are a list of the typical issues they face:
- self employed for less than one year
- self employed for just one year

- do not have an accountant
- can only provide an accountants letter

- have been trading for years but only there last year shows a decent profit

The list goes on and on.

The thing is - there are several lenders out there who are able to support the self employed and provide mortgages at very competitive rates and fees.

This is a very important topic - and one which I'm afraid is not well publicised or understood by the self employed.

Due to these hard economic times the number of self employed are growing - and I believe that it's important that they are well supported. ]]> Mortgages Sean. http://www.homemove.co.uk/forums/self-employed-mortgages-2013-a-6914.html Self cert mortgages 2013 http://www.homemove.co.uk/forums/self-cert-mortgages-2013-a-6913.html Tue, 21 May 2013 22:27:31 GMT I come across a lot of clients who believe they need a self cert mortgage in 2013.

Now it's no secret that self cert mortgages have been removed for the residential market - although there are a couple of self cert lenders left in the buy to let mortgage market.

That said, in most we are able to assist clients who believe they need a self cert mortgage when in fact they do not.

Examples include -
- being self employed for less than 1 year
- being self employed with no accounts
- only having an accountant's certificate to prove income
- only having benefit income
- only having pension income
- having an income where no UK tax in paid

There are many more examples of where we can assist.

I just wanted to make it clear that whilst the self cert mortgage no longer exists - there are still plenty of options where we can make full use of the lender's flexible approach to income requirements.

Proof of income is always required and our mortgage brokers will always act responsibly in ensuring that your mortgage is affordable bases upon your income. ]]> Mortgages Sean. http://www.homemove.co.uk/forums/self-cert-mortgages-2013-a-6913.html Raising cash http://www.homemove.co.uk/forums/raising-cash-6910.html Mon, 20 May 2013 14:52:32 GMT Hi This is my first post so be gentle with me! I am mortgage free on my current home, I want to buy another house and at some point sell my... Hi
This is my first post so be gentle with me!
I am mortgage free on my current home, I want to buy another house and at some point sell my current home to pay off the outstanding debt
Is there any scheme, mechanism where I can raise money based on the combined value of the two properties, preferably interest only, the house I want to buy is approximately 40% of the combined total

dohuk1 ]]> Mortgages dohuk1 http://www.homemove.co.uk/forums/raising-cash-6910.html Crawley – Connells mortgage or no sale! Extreme Lying Caught Out! http://www.homemove.co.uk/forums/crawley-connells-mortgage-or-no-sale-extreme-lying-caught-out-6909.html Sun, 19 May 2013 20:29:17 GMT I just want to share my shocking experience with the estate agents Connells Crawley branch. Basically, myself and my husband viewed a property and... I just want to share my shocking experience with the estate agents Connells Crawley branch. Basically, myself and my husband viewed a property and put in an offer of the asking price. We were told by Connells that this was the price the seller wanted, they would not take a lower offer and were not interested in asking for a higher offer as they did not want to mess around, they really wanted a quick sale. Connells pressured us to try to talk to their in house financial advisor to obtain a mortgage from Connells; we refused and were told we could “lose the house” if we did not attend. We said that we were happy with our own financial advisor. We had various telephone calls with Connells that day, in which the estate agent we were dealing with (initials AP) said he really wanted us to get the house and wished us all the best but we HAD to attend and speak to Connells Mortgage advisor. Connells again called and confirmed that the seller was happy to accept our offer, and refuse any more viewings on the property, but we needed to attend the office to have our financial information verified. My husband was at work all week, so offered to take a day off work to attend Connells to do so. Connells said they didn’t have any appointments for a week although when they thought we would take a mortgage with them we could go in the next day or whenever we were in the area. I spoke to the in house financial advisor over the telephone and asked for his email address so I could send over all the documents needed to confirm our financial viability, so the seller could be assured of our viability to proceed with the purchase. I sent this email, and was happy that the seller would be provided with the required reassurance.

Four days later the property we were supposedly buying was newly listed on the Connells website for sale, I was assured this was a formality and nothing untoward was going on.

The day before we were due to attend Connells to finalise the paper work AP called me to inform me that a cousin of the seller wanted to purchase the house and the seller wanted to sell to their cousin and not to us. AP specifically said he could not proceed with selling the house to us under the seller’s wishes. I was informed that the cousin would be attending Connells 5 days later to see if they could get a mortgage with them, if not then we could buy the property. I suspected this was a lie and asked AP if he was delaying my purchase so someone taking a mortgage with Connells could buy the property, to which he replied “not at all”. My husband spoke to the manager of Connells Crawley (initials JS) who confirmed what AP had told me even adding a few extra details (cousin wanted the house as a buy to let). Due to the fact I suspected Connells were lying to me, with a bit of internet research I managed to find out the name and number of the seller who we contacted and confirmed Connells had LIED, their cousin was not interested in buying the property and did not exist! The seller contacted Connells the next day and spoke to JS who admitted he had lied and did not know why he lied! Although, when AP called us he said he got the property mixed up with another one! It just so happened that there was another offer made 13 days after our initial formal offer, which the buyer accepted in the end, I suspect with the full backing of Connells. I am glad we caught Connells out, and were able to confront them (albeit over the telephone). I just want to warn anyone who is thinking of buying a property with Connells, please be aware of their bad practices. Connells obviously give incentives to estate agents to sell Connells mortgages, and it seemed that was the only way possible to buy a house Connells were selling, was to obtain a Connells mortgage. Connells are run by a mortgage company with only 15 mortgage providers available. They may be able to offer a competitive mortgage but you would be a fool to discount the numerous other mortgage deals elsewhere. Do not be bullied by Connells hard selling tactics to get the house you want as you may end up paying thousands more on top of the selling price for the privilege. We were told that the property was as good as ours and were left very disappointed. But my biggest disappointment is being deceived in such a dishonest and devious way.

]]> Estate Agents bektin http://www.homemove.co.uk/forums/crawley-connells-mortgage-or-no-sale-extreme-lying-caught-out-6909.html buying property with damp? http://www.homemove.co.uk/forums/buying-property-with-damp-6908.html Sat, 18 May 2013 21:19:00 GMT Hi,

I'm planning to buy a property but that house has damp. any suggestions on following photos? what are the potential problems?

Thanks,

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]]> Buying Property londonuser http://www.homemove.co.uk/forums/buying-property-with-damp-6908.html Letting Agent Applicant Fee http://www.homemove.co.uk/forums/letting-agent-applicant-fee-6907.html Sat, 18 May 2013 21:09:12 GMT I currently live at home with my parents and I'm going to view a flat soon and I already know I want it but the letting agent has told me there will be a £260 application fee for 2 of us. From what I understand it is for them do do credit checks and other paperwork? My biggest worry is paying out that money and get turned down.

I have just gone full time at work but my employer isn't changing my contract until the beginning of June so i'm worried they will think I won't be earning enough to pay the rent even though I will be. Will they contact my employer who will be able to tell them the situation or will they just want to see my paychecks that only show that i work part time right now? Also, I've gone slightly into my planned overdraft towards the end of the month in the past, will this go against me?

Another thing is my partner is at University right now and has been in his overdraft for a couple of years.

Are these all things that could make them turn us down? I emailed the letting agent asking and the response was:

"The only reasons you wouldn’t get this back is if you have bad credit like a CCJ, IVA or bankruptcy or your previous landlord gives you a bad reference or your employer says you are not permanent/ not earning the required salary for our requirements."

Sorry about the long post, just want some advice before I hand over the money :) ]]> Renting Property Zero774 http://www.homemove.co.uk/forums/letting-agent-applicant-fee-6907.html Need help? http://www.homemove.co.uk/forums/need-help-6906.html Sat, 18 May 2013 05:57:43 GMT My father living in another state because he is working there and he also buy property there.After the death of my father i am entitle for their... My father living in another state because he is working there and he also buy property there.After the death of my father i am entitle for their property in that state.Can i hire a solicitor in my own state even the laws are different from that state? ]]> Solicitors and Legal Edwin http://www.homemove.co.uk/forums/need-help-6906.html Change of title on freehold http://www.homemove.co.uk/forums/change-of-title-on-freehold-6905.html Sat, 18 May 2013 05:20:53 GMT Good morning, Any advise on this matter would be fantastic. I am in the process of selling my flat and am currently under offer. The... Good morning,

Any advise on this matter would be fantastic.

I am in the process of selling my flat and am currently under offer.

The freehold to the property is held by two brothers. One passed away eight years ago and the other passed away about four weeks after we accepted an offer.

I have been in touch with the freeholders sons who will be managing the ground rent on behalf of their elderly mothers.

My question is,

I was contacted yesterday by the buyers solicitor asking for a £3000 retention so that they can change the title to the wives of the freeholders on the lease.

How much should this cost, and should I be expected to do this?

Thanks for reading ]]> Solicitors and Legal K3v http://www.homemove.co.uk/forums/change-of-title-on-freehold-6905.html The Worst Real Estate Investments. http://www.homemove.co.uk/forums/the-worst-real-estate-investments-6904.html Fri, 17 May 2013 02:49:01 GMT Here are a few things to think about and properties to avoid when you are ready to invest your hard-earned cash equity capital. 1. Anything that... Here are a few things to think about and properties to avoid when you are ready to invest your hard-earned cash equity capital.

1. Anything that doesn’t generate rental income
These include second homes and land investments. Too many people invest in properties hoping that they will go up in value. But there is an opportunity cost to having money sit in real estate that doesn’t pay any income. Even if the property goes up in value, you’ve got to reconcile and account for all the money you would have earned if your money had instead been in the bank or in stocks and/or bonds.

2. Anything with negative cash flows
If you buy a “prize property” — such as a fancy downtown fancy condo, beach property or vacation rental — it’s probably going to be 20+ years before you get your first dime of positive cash flow. And that’s just no way to invest your hard-earned money. Pencil out any potential deal ahead of time, and buy properties that pay cash flow from day one — the moderately priced properties in non-prize areas.

3. Tenant-in-common (TIC) investments
These were popular from 2005 to 2007 as a way to diversify a portfolio without having to deal with the hassle of owning and managing real estate. But few people ever earned a dime because of all the costs and fees associated with the agreements.

4. Development deals
Development of land is extremely high risk. There are entitlement, construction and market pricing risks, plus countless others. These investments are best left to the extremely wealthy and experienced investors who can take the chance that they’ll never see their money again.

5. Condo-hotels, intervals & time-shares
These aren’t even investments. There’s no ability to predict cash flows, rental income or future value/sales prices. And they are very hard to resell and typically only at a fraction of the original cost.

6. Foreign real estate
You might be OK buying real estate in Canada or Britain – however don’t forget about the foreign currency risk — but foreign countries generally have different real estate laws, protections and fluctuating currencies, making these properties extremely high risk.
]]> Property Development renatusus http://www.homemove.co.uk/forums/the-worst-real-estate-investments-6904.html Sellier likely to die at any time! http://www.homemove.co.uk/forums/sellier-likely-to-die-at-any-time-6903.html Thu, 16 May 2013 15:21:58 GMT Hello I have been assisting my elderly mother to buy a retirement flat. Due to maintenance issues (technically the responsibility of the... Hello

I have been assisting my elderly mother to buy a retirement flat. Due to maintenance issues (technically the responsibility of the managing agent) there has been a delay in our exchanging. All along, the seller's Power of Attorney has been putting pressure on us to exchange and complete at very short notice (ie 7 days to both exchange and complete). They have never given a reason for this.

We are now being told that the seller (who is in a nursing home) is on his last legs, and that if the flat is not sold before he dies then it will go to probate, which presumably means a long delay before the sale can then take place.

I don't want Mum to lose the flat because of a probate problem. If we go ahead and exchange, can anyone tell me what the implications would be if the seller died before the sale/purchase was completed?

With many thanks, Rebrobin. ]]> Solicitors and Legal Redrobin http://www.homemove.co.uk/forums/sellier-likely-to-die-at-any-time-6903.html Seller likely to die in the next few days! http://www.homemove.co.uk/forums/seller-likely-to-die-in-the-next-few-days-6902.html Thu, 16 May 2013 15:19:19 GMT Hello I have been assisting my elderly mother to buy a retirement flat. Due to maintenance issues (technically the responsibility of the managing... Hello

I have been assisting my elderly mother to buy a retirement flat. Due to maintenance issues (technically the responsibility of the managing agent) there has been a delay in our exchanging. All along, the seller's Power of Attorney has been putting pressure on us to exchange and complete at very short notice (ie 7 days to both exchange and complete). They have never given a reason for this.

We are now being told that the seller (who is in a nursing home) is on his last legs, and that if the flat is not sold before he dies then it will go to probate, which presumably means a long delay before the sale can then take place.

I don't want Mum to lose the flat because of a probate problem. If we go ahead and exchange, can anyone tell me what the implications would be if the seller died before the sale/purchase was completed?

With many thanks, Rebrobin. ]]> Buying Property Redrobin http://www.homemove.co.uk/forums/seller-likely-to-die-in-the-next-few-days-6902.html Hi everyone http://www.homemove.co.uk/forums/hi-everyone-6901.html Thu, 16 May 2013 06:27:19 GMT Hello everyone, My name is Edwin.Hope you all are fine and i am new here.I am working as a Finance manager in a small organization .I have to... Hello everyone,
My name is Edwin.Hope you all are fine and i am new here.I am working as a Finance manager in a small organization .I have to discussed some issues with my property.Hope for a great discussion in this forum. ]]> General Chat Edwin http://www.homemove.co.uk/forums/hi-everyone-6901.html