The Office of Fair Trading has set down new rules which will change the way Estate Agents go about selling their houses. While it might make life harder for them, they should mean less disappointed for prospective property buyers. Some common practices could now contravene consumer protection law and put agents at risk of serious [...]
Monthly Archives: September 2011
Office of Fair Trading cracking down on Estate Agents’ shady practices
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Buying is cheaper than renting but first-time buyers are struggling to benefit
A combination of low interest rates and a depressed housing market means that the cost of renting is now greater than that of buying a property. Research carried out by Halifax showed that a first-time buyer will repay their mortgagee around £567 a month for a two-bedroom flat, which is over £100 less than they [...]
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Can I be my own conveyancer?
While it is certainly true that the vast majority of buyers and sellers contract a conveyancer to carry out the various necessary processes of a transaction, there is absolutely no legal requirement to do so. You can be your own conveyancer, but is it worthwhile? A site like ours is first and foremost designed to [...]
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More bad news for first time buyers: rents hit a record high
The difficulty first-time buyers are experiencing in buying a property is fuelling a steep rise in rents. Figures released in August showed that the average rent in June 2011 stood at £876, the highest on record, as people either chose or were forced to continue renting as a result of the difficulties many face securing [...]
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New 100% mortgage deal launched
The 100% mortgage is back for the first time since the credit crunch. Aldermore look set to become the first lender to offer a deposit-free mortgage since they were heavily criticised as exactly the type of irresponsible lending that helped generate 2008’s economic crisis. So are we back to the bad old days? No. Aldermore, [...]
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Rocketing deposit amounts highlight first-time buyers’ plight
The average deposit needed for a house is ten times the amount required 20 years ago, showing just how hard it has become for people to get on the property ladder. In 1990 the average deposit was £6,973 but that has now jumped to £65,924. Research by mortgage lender First Direct shows that, over the [...]
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Shared ownership conveyancing
What is shared ownership? Shared ownership is a UK government backed scheme to help people get onto the property ladder by sharing the cost of the mortgage with other people. This enables people to buy a house that otherwise would not be able to afford it. Purchasing a shared property This type of home purchase [...]
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Leasehold conveyancing
Leasehold conveyancing is very often more expensive than regular freehold conveyancing because of the extra work that is involved from the solicitor. Here are some reasons for this price hike: Your chosen conveyancing company must check your lease has been written correctly so that you do not suffer in any way legally and do not [...]
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