When a mortgage becomes a miracle

According to the Council of Mortgage Lenders there are currently six million homeowners who have interest only (IO) mortgages, and are paying only the monthly interest on the loan. Not having to pay down the principal for the first five to ten years can provide enormous benefits. Borrowers can use the extra cash to build savings and reduce debts. Interest only loans can also help you cover a larger mortgage and buy a property you might not have been able to afford otherwise.
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When buying a property to let privately

Many people dream of not having to work and earning from the rent paid on their sublet. It is common belief that becoming a private landlord is an easy way of making money. However, it embeds risk, is complicated and can be time consuming. If you are planning to buy to let, the following guidelines will provide you with enough background to make wise decisions to achieve a successful results. Read more...

Housing boom in central London

15.05.2006 In the past year the price of housing in exclusive parts of London has increased by as much as 14.7 per cent. According to the agent, Knight Frank, the cost of a two-bedroom flat in Chelsea is about £500,000, and the area has seen prices rise by 11.8 per cent in the past four months alone.
According to the agency the balance between supply and demand for London’s most upmarket homes is at its most lopsided in a decade. In the last year supply has fallen by 21 per cent and demand has risen by 43 per cent. The mini-boom has contributed to an overall increase in the average cost of a house in the UK, which has risen by two per cent in the past month according Halifax. Read more...

Value of Houses Expected to Stand Firm in 2006

21.04.2006 The trend for house price inflation cooling off continues. According to Nationwide building society, which produces an index of house prices, the average house price rose by just 3 per cent in 2005. This translated into an average daily increase of £13 per day, or £4,500 over the year. This is more than four times lower than inflation in the previous year, when prices rose by 12.7 per cent. In 2002 house inflation reached a staggering 25 per cent; the highest it had been in 14 years. Since then however, inflation has gone down, and this led some property forecasters to predict a crash in the housing market.
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