CD Fairfield Secures Major £2M Partnership with Move With Us

CD Fairfield Capital, one of the UK’s leading Non-Statutory and Statutory property debt specialists, has secured an exclusive two year rolling contract with Move With Us to be the sole approved provider of debt services to its group. Move With Us is the UK’s largest network of independent estate agents (with over 1200 high street locations) and is owned by London private equity investors Palamon Capital Partners. This new relationship will see CD Fairfield Capital create 25 new jobs over the next 18 months, 21 in Belfast and 4 in Cambridge.

Speaking on the announcement, Phil Davison, Managing Director at CD Fairfield Capital said: “This is a great result for all involved in CD Fairfield. It has taken over a year to deliver what is a hugely exciting development for the company. This allows us to bring our expertise to the widest possible UK market; becoming a partner with a company of Move With Us’s size and scope can only be a validation of five years of hard work.

“The property market in mainland GB is experiencing a downturn with property still 20% below peak 2008 price levels in parts of the North of England and Wales and prices falling in London and the South. With interest rates expected to rise and the Bank of England warnings around house prices in the last week; we are posed to bring our specialist expertise to beleaguered buy-to-let landlords and those requiring property debt advice.

“With our experience and growth in this specialist area of debt management, coupled with the economic and fiscal outlook over the coming years looking less favourable for landlords in particular, we expect to see the number of Clients CD Fairfield are helping grow exponentially, thanks to this exclusive partnership with Move With Us.”

Speaking on the decision to partner with CD Fairfield Capital, Ben Greco, Managing Director at Move With Us says: “Move With Us started working with CD Fairfield last year when some of its NI property-debt cases required properties to be managed and sold in England and Wales. Being a leading residential asset manager, Move With Us were a good fit.

“CD Fairfield brings bespoke help to a range of property-linked debt problems for investors, accidental landlords or actual homeowners. Its case studies really are testament to the help it gives and what can be achieved to mutually benefit all parties involved in those issues. With interest rates likely to rise further, property prices flat at best, landlord tax breaks being squeezed, and the wider market suffering from Brexit-based uncertainty, I think the number of property owners that may need this sort of individually tailored help with their debt and property situation will rise steadily in coming months.

Ben continues: “Our job is to bring the best processes and agent partners to the table to achieve the optimum sale results for all involved. All in all, I expect our relationship with CD Fairfield to grow closer and stronger as case numbers rise steadily and consistently. I am looking forward to developing this new partnership over the months to come.”

Founded in 2013 by Directors Philip Davison and Tom Cardwell, this is a significant development for the business, that currently has over 650 retained clients and is regarded as the best specialist property debt company in the UK. Settling over 500 cases with an average debt write down of £57,000 for buy to let landlords and homeowners.

CD Fairfield, Director, Tom Cardwell adds: “This collaboration marks an exciting time for CD Fairfield and sees significant financial development in our NI base. It will see the expansion of our team and the investment in new offices to house the increased capacity required.

“At CD Fairfield we have a unique service and the only company of our type to currently offer clients the full suite of potential property debt resolutions under one roof. By partnering exclusively with MWU and extending our reach as a company, this can only be good for the UK consumers.

“From day one our focus has been on our clients and as we continue to grow that will remain the cornerstone of our company philosophy.”

CD Fairfield Capital operate in the UK under the trading styles Landlord Debt Advisory and Negative Equity UK, In NI under the trading styles Negative Equity NI and Get Help With Debt.

UK house price growth to remain flat in 2018.

House price growth across is to remain essentially flat in 2018, according to the latest Nationwide House Price Index, which predicts growth of only 1%.

According to the report, modest annual growth in the wider economy of 1-1.5%, combined with stagnating household finances will act as a drag on house prices, holding down growth and keeping activity in the housing market subdued over the next 12 months.

The report also notes that house price growth already slowed over the last year, with prices up by only 2.6% annually in 2017, compared to 4.5% in 2016.

Despite this modest growth in 2017, property prices ended the year down slightly month on month, recording a fall of 0.6%, according to the Halifax.Robert Gardner, chief economist at Nationwide, said; “Low mortgage rates and healthy employment growth continued to support demand in 2017, while supply constraints provided support for house prices. However, this was offset by mounting pressure on household incomes, which exerted an increasing drag on consumer confidence as the year progressed.

“The impact of previous policy changes, including additional stamp duty on second homes, changes to tax deductibility of landlord expenses and lending criteria, meant that demand from buy to let investors remained subdued in 2017.”

In 2017, London house prices were hit hardest by the slowing market, falling by 0.5% over the year.

We can help.

These figures will be worrying for homeowners already struggling with negative equity. With prices stagnant across the UK and some areas even seeing prices fall, mortgage borrowers with negative equity will have no hope of seeing their property gain enough value to overtake the shortfall.

So, if you’re struggling to sell a home you can’t afford, or you’re trapped in arrears or negative equity on your property, then we can help.

At Negative Equity UK, our team of property debt specialists offers a range of possible solutions based on your individual situation. Whatever your circumstances, the process starts with a case review. We will obtain all of the original documentation on your mortgage from your lender so we can assess your needs and work out the best way for us to help you.

We don’t adopt a one size fits all approach to helping our clients. Instead, we offer bespoke solutions based on your specific needs and circumstances.Many people need to sell their house in order to deal with their debt. In this case, we can arrange a shortfall sale and negotiate with your lender in order to write off as much of the remaining debt as possible, leaving you with a much smaller amount left to pay.

If you’re in arrears on your mortgage, or you’re trapped in a property in negative equity and you need to move on take a look at our reviews and contact us on 0161 631 2727 or fill out a contact form on our website and we will arrange a call back and start the process of dealing with your property debt.

More than a third of house sellers cutting asking price.

According to the latest housing market data published by Rightmove, 37% of sellers with properties already on the market have reduced their asking price since first listing, the highest rate in five years for this time of year.

Sellers are reducing asking prices by 0.8% on average, but Rightmove suggests that these reductions may still be too optimistic and many sellers will be forced to continue lowering their asking price in order to complete the sale.

Miles Shipside, Rightmove director, said; “Given that the market has been price-sensitive for a while and a five-year high proportion of sellers are slashing their prices, some sellers and their agents are over-pricing. These sellers may well be asking themselves if they could have saved some time and stress by pricing a lot more conservatively than an average of more than six percent ahead of what the market subsequently proved it could sustain.

“The danger of going too high at the outset is that you jeopardise that vital initial three week period, and may have to start on a series of price reductions while potential buyers watch and assume that no-one is buying your property because something is wrong with it other than the price.”

The rise in the number of house sellers cutting their asking price is going to add to worries for homeowners struggling with negative equity and other property debt problems.

The news follows the decision by the Bank of England’s Monetary Policy Committee to raise interest rates from 0.25% to 0.5%, putting up monthly repayments for many borrowers, and data from the Royal Institute of Chartered Surveyors showing that house prices are falling in areas across the country.

We can help.

Falling house prices will leave many homeowners with outstanding mortgage debt worried about negative equity.

Negative equity describes a situation where the value of a property is less than the amount still owed on the mortgage on that property. This can make it impossible for people to sell their property if they need to move on, or if their repayments become unaffordable, as the sale of the house will not raise enough to pay off the remaining debt, leaving the borrower still owing the shortfall.

At Negative Equity UK, we offer bespoke solutions to help our clients deal with their property debt.

If you are worried about the impact the rise in interest rates will have on your finances, take a look at our reviews and contact us on 0161 631 2727 or online at negativeequityuk.com to arrange an initial free, no obligation consultation.

Buying a house? Here’s our guide to the different types of mortgage.

Buying a house can be a complicated process, with borrowers having to make decisions about their budget, the type of property they want, their solicitor and more.

One of the most important decisions you’ll have to make is deciding what type of mortgage you want to take. This isn’t helped by the fact that the mortgage products which are available can change.

So, whether you’re a first time buyer, buying to let, or planning on downsizing, here’s our guide to the different types of mortgages available.

Fixed Rate.

Fixed rate mortgages have become increasingly popular with homebuyers. As the name suggests, the interest rate on these mortgages is fixed for an initial term when you take it out. This term can be two, five, or sometimes as much as ten years. A fixed rate mortgage ensures that your monthly repayments will stay the same over this initial period.

The main selling point for fixed rate mortgages is that it offers certainty about what your mortgage costs will be, allowing you to plan your finances more effectively. With speculation mounting that an interest rate rise may be imminent, many mortgage experts are advising customers to fix their mortgage for as long as possible to avoid any unexpected rate rises that may be coming.

One possible downside of opting for a fixed rate mortgage is that you will probably miss out on a more competitive deal if your lender’s standard variable rate (SVR) is lower than the fixed rate, or falls below it.

Standard Variable Rate.

The standard variable rate is set by your lender and varies from one lender to the next, though the average rate is currently around 4.5%. This rate is influenced by the Bank of England’s base rate, but isn’t directly tied to it and the lender can increase or cut this rate at any time.

With the base rate currently low, opting for an SVR can be good value, however, sooner or later this rate will go up and you have no control over when or by how much it increases, so it offers less certainty and security.

Tracker.

Another type of variable rate loan is a tracker mortgage. As the name suggests, a tracker mortgage tracks the Bank of England’s base rate, rising or falling as it does.

Typically a tracker mortgage will follow the base rate at a given margin above or below it. So, if your tracker mortgage were to be base rate plus 1%, that would mean your current interest rate would be 1.25%. Longer term tracker mortgages will usually have a larger margin, for example base rate plus 3.5%.

Tracker mortgages can either be taken as an introductory rate, usually for a period of one to five years, or they can cover the whole life of the mortgage.

With interest rates having been kept at historically low levels for years, tracker mortgages have offered some very good deals, however, interest rates can’t really fall any further and, as we noted above,
speculation is mounting that a rise in the base rate will happen quite soon, so these mortgages may lose their appeal for many borrowers.

Interest Only.

All of the loans we’ve talked about have been repayment have been repayment mortgages, where you pay off the loan itself, plus some interest, every month. You can, however, also take out an interest only mortgage, where you only pay the interest on the loan every month.

This has the advantage of keeping your monthly repayments down, but does mean that you will need to have a repayment vehicle in place so that you can repay the full value of the loan when the term ends.

Interest only mortgages are popular with landlords who want to keep their monthly repayments down in order to maximise their rental yield. For other borrowers, taking out an interest only mortgage can be a risky strategy, as you may find you can’t afford to repay the capital on the loan at the end of the term, which could lead to your home being repossessed.

Contact Us.

With so much to do and so many costs to meet when buying a house, you need an estate agent who will make the process as easy as possible for you. So, if you’re looking for a new home, take a look at our website or visit us in one of our branches in Templepatrick or on the Lisburn Road in Belfast and find out how we can help you find the perfect home.

I’m Divorced & Need To Sell My House Quickly

I’m Divorced & Need To Sell My House Quickly

‘My divorce is dragging out due to a shared mortgage, can you sell my house quickly?’

So your marriage has ended and now you want to sort out your affairs, put the past behind you, plan your future and move on.

Okay.

But there is a problem. There is a house to be sold and in view of all the other important issues to be resolved, the traditional estate agent/surveyor/solicitor route – which can be ponderous, tedious, expensive and prone to setbacks at any of the many stages involved – may not best serve your purposes .

So is there an alternative? Mercifully, yes.

Fast House Sale NI recognise that divorcing is a difficult enough process. They’re often asked, ‘can you sell my house quickly?’

They know it can be very painful and that it may turn nasty, sometimes descending  into something rather spiteful and vengeful where the emotion-charged desire for retribution begins to override the need for composure and a common sense approach in everyone’s best interests.

Experience has taught Fast House Sale NI that divorce is one of the principal reasons for enquiries about their service.

There is nothing complex about the procedure. The name is self-explanatory; Fast House Sale NI do what they say. They buy for-sale houses in Northern Ireland – quickly.

How? By cutting out as many as possible of the steps which slow the process down. And it is remarkable how much time and money – your money – can be saved by doing away with middle men.

So as well as being fast, it can be cost-effective. In other words, ideal for anyone who is divorcing.

Examples of some of those intermediate steps you avoid? Here is a list – and it’s not even exhaustive  – of a solicitor’s tasks ahead of completion:

Preparing and sending a sale contract with the ownership documents on loan to the buyer’s solicitor.

Helping the seller complete detailed disclosure questionnaires.

Applying for property certificates from the Department of the Environment and local council.

Applying for Bankruptcy and Court Judgement searches against the seller.

Applying to the Land Registers for searches against the seller to make sure all outstanding mortgages or registered debts are taken into account.

Then there is having the seller complete and settle detailed lists of fixtures, fittings and contents included or excluded from the deal.

Ensuring the seller has an Energy Performance Certificate.

Obtaining exact details of debts owed to the lender, estate agent, ground landlord and others in preparation for discharge on completion.

Considering any amendments to the contract after the buyer has signed once the contract has been received back from the buyer’s solicitor and settling any problems which have arisen.

Having the contract countersigned by the seller and put into legal effect by faxing a copy of the contract to the buyer’s solicitor.

Having the seller sign transfer documents in preparation for completion.

Then on completion day paying off all mortgages and charges against the property and applying for release documentation.

Informing the Rates Office of the buyer’s name and forwarding any refund to the seller.

Accounting to the seller for the net proceeds of the sale after debts and expenses are paid off.

Completing the registration of release documentation to free the property from previous debts.

And, finally, closing the solicitor’s file and storing it for 12 years in case of future disputes.

Phew!

With Fast House Sale NI there are no such delays. Because it’s Fast House who buy the property, there is no waiting for a would-be buyer to sell their home before being able to complete the process. And with no estate agents involved there are no advertising costs, fees or commission to be paid.

Typically, Fast House Sales NI offer up to 80% of the current market value, though on occasions offers in the region of 85% have been made. This makes it a very good option for somebody who wants their cash quickly. Like a divorcee.

No delays, no viewings, no outlay, no hassle and a guaranteed 80% in your pocket right now.

It’s quick, it’s easy and there are no hidden costs.

Fast House Sale NI make an offer and pay all the other bills relating to the house sale.

With no legal fees and no estate agent’s costs, that’s all money saved.

And while it’s usually a six-eight weeks process, there have been examples of completion within four weeks.

And with no For Sale boards or adverts, discretion is guaranteed.

When the deal is done and the handshakes exchanged the cash is lodged in your bank account. Worst case scenario? Eight weeks.

So, ‘can you sell my house quickly?’ Yes, they can!

So if you are divorcing and need to sell your house quickly and discreetly, contact Fast House Sale NI. Now.

Is A Shark Promising To Sell My House?

‘Is A Shark Promising To Sell My House?’

There are all manner of reasons which can prevent or delay the sale of a property.

The state of the market, the preponderance of similar properties, the availability or cost of mortgages, the price you are asking and the condition of what you are trying to sell are just a few of them.

At this stage, the cost of mortgages ought not to be an issue. With the base interest rate continuing to creep along the fiscal ocean bed at an all-time low, mortgages have never been more affordable.

Currently the property market is stable, albeit that no-one is quite sure of what the future may hold in the wake of the Brexit vote. Meanwhile houses continue to sell.

So if you cannot attract a buyer, you have got to ask yourself why that might be? Is your asking price unrealistically high? Has it been marketed properly? Is the property in a bad state of repair? Could location be an issue? Honest answers will serve your purpose best at this stage….

If you are divorcing, emigrating, need to clear debts or have inherited a property, you could benefit from selling quickly rather than via the normal estate agent, surveyor, bank/building society, solicitor, route.

A Fast House Sale is carried out much more quickly than that, not least because it is guaranteed to be problem-free.

How?

Simply because the process entails removing all of the intermediary steps and players, thereby enabling a smooth, swift, start-to-finish transaction.

A Fast House Sale minimises the stages at which things can become ground down. The roles of surveyors, lenders and solicitors are eradicated, making for a totally straightforward process.

So for anyone who needs to sell quickly, this could be just the solution for which they have been searching.

Put simply, Fast House Sales respond to your invitation to view the property you wish/need to sell. Having done so – at no cost to you – they will then make you an offer.

Normally this will be in the region of 80% of current market value of comparable nature in the same location. On occasions, however, the offer can be as high as 90%.

That offer price is guaranteed. Fast House Sales pride themselves on their reputation for integrity. That being the case, there are no last-minute subtractions in lieu of previously unmentioned ‘outgoings’ on their part.

With Fast House Sales, what you see is what you get and what you get is what you were offered and promised at the outset. If there are any late extra costs, those will come out of their pockets, not yours.

You may at some stage have had the misfortune of seeing a sale fall through as a result of a would-be buyer having themselves been let down by someone to whom they had been expecting to sell their home.

Again, that does not happen with a Fast House Sale. And that, too, is guaranteed.

The reasons for them being able to offer that assurance are: (a) they are not dependent on money from the sale of something else to finance the purchase of your home, and (b) there is no delay while they await the mortgage application approval of a bank or building society.

Thus, with a Fast House Sale there are no disappointments. They are not required to sell anything prior to buying from you, nor are they dependent on lenders advancing them money to finance the purchase of your property.

Nor will you be required to spend anything on refurbishing and redecorating the home you wish to sell. Since they operate a buy-as-seen policy,  if there is work to be done ahead of them putting the property on the open market at some future date, they – not you – will pay for that.

So, no monetary hiccups, no reliance on anyone else and no make-overs in readiness for viewings as there are no viewings. The only ‘viewers’ will be Fast House Sales team, with whom you are dealing directly each step of the way.

The decorative state of the property is not an issue. If they buy a home in need of substantial repair and upgrading, it will be because they recognise that, with their work and their money, it can become attractive further down the line.

Fast House Sales’ money will be in your account within weeks. In the interim, there will be no adverts or For Sale boards regarding the property, thereby providing you with total discretion. No-one will know you are selling. Nor will they know the price involved.

In keeping with their name, it’s all fast, easy, secure and guaranteed.

So if, for whatever reason, you want money quickly for your property, contact Fast House Sales and let them solve your problem.

Should I Sell My House Fast?

Should I Sell My House Fast?

Some house sales drag on for months. Sometimes the process can take years.

So where does that leave the seller who can’t afford to hang about waiting for completion of a sale which may – or may not – materialise?

Fast House Sale NI came into being to help those who want or need to sell quickly, quietly, no overheads, no fuss, deal done, money banked, moving on thank you very much.
The reasons for fast sales are many and varied. But for the individual, couple, family or group intent on selling, the need to do so promptly and discretely is the priority.

They are aware of cases where it has taken forever and they have no wish to become another anxious, frustrated, disappointed would-be seller being charged by agents and advertising outlets and who, despite having forked out good money, cannot get over the line in terms of completion.

Who needs to sell quickly? And why? All sorts of people for all sorts of reasons.
People who are emigrating and just want the whole house-selling issue done and dusted before they leave. A quick sale would be very welcome.

People to whom property may have been left following the death of a relative. They have a home of their own so they don’t need this other one as a residence, particularly as it might need to have work done before they could move in; redecoration at least, but quite possibly something a lot more substantial – and expensive.

It may be a case of a relationship breakdown which has seen both halves of a couple going their separate ways. They don’t want to spend time and money on the traditional house sale route involving estate agents, solicitors and a spruce-up or overhaul in readiness for visits by a stream of viewers, particularly as there is no guarantee of an offer at the end of it all that time, trouble and outlay.

Perhaps they have lost your job and, as a result of being unemployed, they need to get rid of everything they can no longer afford. Top of the list? The house. A quick sale is exactly what they require.

But how do you sell your home quickly? What does a quick house sale involve? Are there hidden costs? And how much could you expect to receive if you chose to follow the fast house sale road? And if you were happy with the price, how quickly could you expect to see the money for the sale?

Fast House Sale NI’s way of doing things is a clear case of ‘what it says on the tin’. It’s a quick sale which means you will not get full market value on the property in the same way you would if you were to go through the normal channels. But it’s a genuine option for somebody who wants good cash quickly.

Typically, Fast House Sale NI will offer up to 80% of the current full market value, though on occasions offers in the region of 85% have been made.And as all of those to have availed of its services decided, better the guarantee of £8 in your pocket right now than the mere dream or vague hope of a full £10 at some undefined point down the line, particularly as you may be substantially out of said-pocket between now and then.

All in all, it’s a quick, easy, no-hidden-costs transaction. An offer is made – and, significantly, it is one which includes Fast House Sale NI picking up all the other tabs normally associated with a house sale.

In other words, the seller does not have to pay for legal fees or foot the bill for an estate agent’s costs. Ordinarily it’s a six-eight weeks start-to-finish process, though there have been examples of completion within four weeks.

In addition to having all the extra costs looked after, further attractions of any such sale include the certainty that it will go through and that the seller is assured of complete discretion. There are no For Sale boards, no adverts and nobody else will be aware of the fact that you are selling, or have sold, or to whom or for how much. All such information is strictly confidential.

Once the deal is done and the handshakes are exchanged, the cash will be in your bank within weeks. Worst case scenario? Eight weeks.

Not only are Fast House Sale the biggest such company in Northern Ireland; they are part of a much bigger entity, namely CD Fairfield Capital, a Belfast-based group of companies who are both proud and protective of their reputation for ethics, integrity and transparency.

Fast House Sale NI guarantee an open market valuation of the property. Nor are they put off by its state of repair or the standard to which it has been maintained.

Even if it has been so poorly looked after that it has reached the point of not being mortgageable, they will welcome the opportunity to take a look with a view to buying it.

If you’re interested in a quick sale – be it residential, commercial property or land – Fast House Sale NI want to hear from you.

Can I Sell My House Quickly?

Can I Sell My House Quickly?

SOME house sales drag on for months. Sometimes the process can take years.

So where does that leave the seller who can’t afford to hang about waiting for completion of a sale which may – or may not – materialise

Fast House Sale NI came into being to help those who want or need to sell quickly, quietly, no overheads, no fuss, deal done, money banked, moving on thank you very much. The reasons for fast sales are many and varied. But for the individual, couple, family or group intent on selling, the need to do so promptly and discretely is the priority. They are aware of cases where it has taken forever and they have no wish to become another anxious, frustrated, disappointed would-be seller being charged by agents and advertising outlets and who, despite having forked out good money, cannot get over the line in terms of completion.

Who needs to sell quickly? And why? All sorts of people for all sorts of reasons.

People who are emigrating and just want the whole house-selling issue done and dusted before they leave. A quick sale would be very welcome.

People to whom property may have been left following the death of a relative. They have a home of their own so they don’t need this other one as a residence, particularly as it might need to have work done before they could move in; redecoration at least, but quite possibly something a lot more substantial – and expensive.

It may be a case of a relationship breakdown which has seen both halves of a couple going their separate ways. They don’t want to spend time and money on the traditional house sale route involving estate agents, solicitors and a spruce-up or overhaul in readiness for visits by a stream of viewers, particularly as there is no guarantee of an offer at the end of it all that time, trouble and outlay.

Perhaps they have lost your job and, as a result of being unemployed, they need to get rid of everything they can no longer afford. Top of the list? The house. A quick sale is exactly what they require.

But how do you sell your home quickly? What does a quick house sale involve? Are there hidden costs? And how much could you expect to receive if you chose to follow the fast house sale road? And if you were happy with the price, how quickly could you expect to see the money for the sale?

Fast House Sale NI’s way of doing things is a clear case of ‘what it says on the tin’.

It’s a quick sale which means you will not get full market value on the property in the same way you would if you were to go through the normal channels. But it’s a genuine option for somebody who wants good cash quickly.

Typically, Fast House Sales NI will offer up to 80% of the current full market value, though on occasions offers in the region of 85% have been made.

And as all of those to have availed of its services decided, better the guarantee of £8 in your pocket right now than the mere dream or vague hope of a full £10 at some undefined point down the line, particularly as you may be substantially out of said-pocket between now and then.

All in all, it’s a quick, easy, no-hidden-costs transaction. An offer is made – and, significantly, it is one which includes Fast House Sales NI picking up all the other tabs normally associated with a house sale.

In other words, the seller does not have to pay for legal fees or foot the bill for an estate agent’s costs.

Ordinarily it’s a six-eight weeks start-to-finish process, though there have been examples of completion within four weeks.

In addition to having all the extra costs looked after, further attractions of any such sale include the certainty that it will go through and that the seller is assured of complete discretion. There are no For Sale boards, no adverts and nobody else will be aware of the fact that you are selling, or have sold, or to whom or for how much. All such information is strictly confidential.

Once the deal is done and the handshakes are exchanged, the cash will be in your bank within weeks. Worst case scenario? Eight weeks.

Not only are Fast House Sales the biggest such company in Northern Ireland; they are part of a much bigger entity, namely CD Fairfield Capital, a Belfast-based group of companies who are both proud and protective of their reputation for ethics, integrity and transparency.

Fast House Sales NI guarantee an open market valuation of the property. Nor are they put off by its state of repair or the standard to which it has been maintained.

Even if it has been so poorly looked after that it has reached the point of not being mortgageable, they will welcome the opportunity to take a look with a view to buying it.

If you’re interested in a quick sale – be it residential, commercial property or land – Fast House Sale NI want to hear from you.

Buy-To-Let, Invest With Aria Residential

Not so long ago, buy-to-let was seen to be a sound property investment – a proven, productive and profitable piece of business.

On an industrial scale this entailed super-rich individuals or large consortia buying houses, apartments or flats, if necessary sprucing them up a little and then letting them out to reliable tenants whose rent covered the owner’s or owners’ mortgage repayments as well as providing surplus to be invested in more property or deposited in a pension pot.

Meanwhile, with property prices seemingly destined to go on rising, the landlords’ investment continued to grow in value.

In the vernacular, a nice little earner from whatever angle one viewed it. But at a much more modest level, houses, apartments and flats were bought by ordinary people, too. They included parents who saw the merits of providing affordable accommodation for their offspring who were studying at university. And they, too, saw that as an investment which would continue to increase in value. Others who entered the world of buy-to-let included young couples who, having previously owned two homes, moved into one when they married. They kept the second, however, turning it into a rental property which more than paid for itself whilst also appreciating in worth.

Then there were those who inherited property following the death of an elderly parent. Rather than rushing to sell the home left to them, they kept it on and rent it out.

It remains to be seen how any of those highlighted above will fare now that Chancellor George Osborne appears to declared war on the UK buy-to-let market which has mushroomed in size in recent years.

With speculators buying up swathes of property for rental in London in particular, he is moving to offset that trend, given that it is threatening to destabilise the economy in general and house prices in particular.

To that end he is in step with the Bank of England which also is acting to head off property speculators at the figurative pass. This follows a series of warnings by the BoE’s Monetary Policy Committee about the impact of high levels of mortgage lending to buy-to-let borrowers.

The figures underline the MPC’s concerns; from January 1 to September 30, 2015, buy-to-let lending soared by 10%, compared with a rise of just 0.4% in the owner-occupier sector.

In mid-2015 there were 1.7 million buy-to-let mortgages worth a staggering £201 billion. That translates as 16% of the UK’s residential mortgage market. In 2002 the share was 2%. By 2008 – when things went so disastrously wrong – it had risen to 12%.

As a result of this trend, the Chancellor has signalled his determination to restrict the size of loans to landlords. If he and the Bank of England are united on this one, mortgages advanced to buy-to-let property owners will be assessed strictly in accordance with the value of the property AND rental repayments on it.

That is because a major concern at this stage is that landlords may run into mortgage repayment problems in the not too distant future.  There are reasons for this anxiety, not least because landlords tend to take out interest-only loans. So if, due to them encountering payment difficulties, they chose to sell, that could see the marketplace swamped with for-sale properties, a scenario both George Osborne and BoE governor Mark Carney are very keen to avoid.

Between April 1 and June 30, 2015, a massive 85% of newly-issued buy-to-let loans were of the interest-only variety, so misgivings about that are understandable. Already we have seen the Chancellor make changes which mean less tax relief for buy-to-let property owners. To that he has added an increase in stamp duty, pushing it up by a full 3%.

So banks are becoming noticeably more cautious when it comes to lending for buy-to-let or second property purchases. Again, that is understandable, recent history having shown that buy-to-let mortgages are over two times more likely to end up creating problems for banks than those given to conventional owner-occupiers. To that add the fact bankers believe that landlords will pose a real threat to the economy in the event of a slowdown or downturn in the property market. Why? Because in the bankers’ eyes, when the going gets tough, buy-to-let landlords are much more likely to default than home-owners.

The BoE’s end-of-third-quarter 2015 statement confirmed those misgivings, stating: “Since 2010, rates of credit loss on buy-to-let loans in the United Kingdom have been around twice those incurred on lending to owner-occupiers. Assessed against relevant affordability metrics, buy-to-let borrowers appear more vulnerable to an unexpected rise in interest rates or a fall in income.”

With the rental sector growing quickly, first-time buyers are finding it harder to get a foot on the bottom rung of the property ladder. So that’s the circuit; more buy-to-let borrowers snapping up houses, flats and apartments and by so-doing gobbling up an ever-increasing percentage of the mortgage pie, thereby making it harder and harder for young would-be home-owners. But, in the background, the shadow cast by a bad repayment record coupled with vulnerability to changes in property prices or interest rates.

If you are a landlord worried about any of these issues, now is the time to seek help. Contact our team at Aria Residential, Belfast, phone 028 9059 9599

What Should I Look For When Buying A House?

There is no one size fits all answer to the question ‘What should I look for in a property?’

That is because in reality it depends on three key factors – and each of those varies from person to person.

Those factors and the questions arising from what you are looking for in property are:

(a) Are you intent on buying or renting? And if the answer is the former, are you planning to inhabit the property yourself or sub-let it to others?

(b) Your requirements, of course, will be determined by your particular circumstances. In other words, are you single or do you have a partner? If you do, are there young children, teenagers or young adult offspring in your equation? Or an elderly relative? Your answer here will play a big part in deciding how many rooms and how much actual living space you are going to need. Obviously that affects the buying, selling or rental price.

(c) What can you comfortably afford?
That last question applies in every instance, whether you are buying property for your own use or with a view to letting. It is applicable, too, if you wish to rent property as a tenant, for just as owners have a monthly commitment in the form of mortgage repayments to their lender, so too do tenants have a weekly or monthly outgoing in the form of rental payments to their landlord.
Whether you are buying or renting, a good, conscientious, market-informed, on-the-ball estate agent will be fully aware of like-for-like prices in the locality in question. If he/she isn’t, move on and find one who is. Quickly.
Why? Because your estate agent’s ability to value a property at a viable, realistic price and then market it to the appropriate audience is all-important. This is true whatever the nature of the property, because whether it is a house, flat or apartment, the same basic rules apply. Always.

Essential needs and demands vary. A young, single man or woman will have different requirements to a couple with the stereotypical 2.4 children and a dog. And when you then add in two or three ideal-world extras as to what would make their dream home, the buying/renting/letting scenario changes dramatically once again. People differ, ditto the sort of property they want or need.

So as was said at the outset, there is no one size fits all answer to the question. What you are looking for in a property is not necessarily the same as someone else with similar hopes, expectations or means, whether they are buying or renting.

For those attempting to sell – and in our still-uncertain post-Brexit climate that is likely to be more difficult than before – the role and importance of a time-tested and tried estate agent cannot be over-emphasised. Certainly, as things stand in the wake of the UK’s decision to leave the EU, anyone intent on selling is going to need the help of an expert capable of attracting their property’s true sale value.
Currently no-one is quite sure of how things are likely to pan out in the property market.

What is certain, however, is that nobody at this point is suggesting that house, flat or apartment prices are going to rise in the foreseeable future. Indeed, in some areas – notably London and East Anglia – they have been falling steadily in recent weeks.

According to the Royal Institution of Chartered Surveyors’ (RICS) mid-July survey of UK estate agents and surveyors, there is more pessimism about the state of the property market than at any point since the late 1990s.

In June inquiries from would-be buyers were down for the third month running and there was also a sharp decrease in the number of sales agreed.
Some 36% more respondents to the Rics’ survey reported a drop – the lowest reading since the start of traumatic financial downturn in mid-2008.

It was the third successive month of fewer sales, which is a worrying pattern.
And hand in hand with those glum statistics, the supply of properties coming onto the UK market fell in every region – with the notable exception of Northern Ireland.

That Rics survey concluded: “This is the most negative reading for near-term expectations since 1998.”

For good or ill – and that will depend if you are trying to buy, sell or rent at this juncture – clearly all of these imponderables are going to have an impact on house prices and rental charges.

So if you are aiming to buy, sell or rent, contact Aria for help and information on the state of the market and avail of their expertise.