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Property Prices Will Continue to Fall in the UK

Posted by admin in PropertyMar 30th, 2009 | Comments Off

Property prices in the UK are dropping, and some economists predict that property prices will continue to fall for some time. The credit crunch, non availability of mortgages, and pulling out of buy to let speculators, has caused property prices to take a nose dive. This trend in falling property prices has been caused by artificially rising property prices. Mortgage companies added to this artificial rise by offering 100% mortgaging. Now people who want to buy property are finding it hard to find mortgage companies who are ready to offer mortgage loans. Secondly everybody is waiting to see how low the market will go. Investors have stopped buying properties. People who are straddled with debt are finding it increasingly hard to sell their properties. A property is a long term investment, and is not like a share. The prices do not vary daily. The downward trend in property prices is not so acute in Scotland. If you are in dire straits and need to sell your property, then sell it, if you think you are getting a good price. Property prices will only stabilize once the rest of the economy stabilizes, and that may not happen soon.

Selling and Renting Back Your Property - Is It a Good Option

Posted by admin in PropertyFeb 20th, 2009 | Comments Off

Most companies that offer sell and rent back properties are trying to make a fast buck. If you are in debt and are think selling and renting back may be the best option open to you, then think again; you are likely to get ripped off by the company that is offering the deal. You may loose 20% or more in this deal. The buy and rent back company will offer to get a surveyor and pay the surveyor costs and all other legal costs. They are then going to offer a much lower price then you would get on the market. They promise total secrecy and that the deal can be done in less then a week. They will buy your property at less than the market price and rent it back at the market rate. So either way, you are going to loose. When and if they sell the property back to you, it’s going to be at market value. So once again you loose. Also they may evict you after 6 months or a year. So, if you have to sell your house and shift to a cheaper place., then just do that and avoid sell and rent back deals.