This week's headline grabbing news of Britain's first property rental ASBO being issued to a landlord in Plymouth highlights to potential landlords and tenants that the days of Dickensian slum landlords are numbered. Mr David McCabe recently appeared before Plymouth Magistrates' Court after Plymouth City Council launched pioneering legal action against him. Having 'specialised' in slum accommodation...
2012
As we enter the festive period of merriment, eating, drinking, dancing and carousing (and being immortalised on somebody's mobile phone in a compromising position with the new girl from Accounts), I am led to reminisce about various experiences that I have had over the years in the property business. From the mundane; people not turning up for their viewings, people cancelling sales because the cat has...
Whether you are selling or letting a property, choosing the right agent is vital. So, bypass the glossy brochures, look past the glib, slick presentation and in the famous words of Janet Jackson ask, "What have you done for me lately?". You must be prepared to ask the difficult questions; because it isn't what they say that is important, it is what they don't say. As a rough guide, try asking these...
In the current property market, agents have to face the uncomfortable reality that they need to take steps in order to keep thier good tenants who can no longer be viewed as a predictable cash cow who can be left alone to keep producing. The steps that agents need to take to keep tenants are often blindingly obvious. Ths most important step is good communication. The agent should keep regular contact...
In one of my rare quieter moments, I often question myself as to why anybody buying or selling a property would use a packaged solicitor recommended by a corporate estate agent. Let me explain. I recently went to a valuation in Cwmbran where the vendor had sensibly asked more than one estate agent to value their property and explain their services with a view to putting it on the market. One of the...
.... and the small print taketh away... It is interesting to note that the quality housebuilding company Persimmon released a statement this week confirming something that we blogged about a few weeks ago. Chief executive Mike Farley said that, lending was still, "the number one issue in the industry". The Government New Buy Programme which requires only a 5% deposit, has helped Persimmon attract...
In the modern age that we live in we are just about getting used to LOL, TMI, BRB and NSA but even I am surprised by more jargon on the property market. Everybody know what constitutes a first time buyer but today I have come across a rare species known as a "second stepper"; which after a WTF moment, I realised was the new jargon for someone who is a second time buyer. The actual article where the...
According to the latest research carried out by Ipsos MORI on behalf of Halifax, who are part of the Lloyds TSB group; 35% of home owners asked said that they anticipated an increase in house prices next year. This was markedly higher than the 20% who predicted a decline. My question is: what did the other 45% think or were they simply, 'don't knows'? Although one may be cynical and say that 35% of...
Could you imagine coming out with something such as the statement above to a certain Mr Gordon Ramsay - award-winning chef extraordinaire - when dining at one of his world famous eateries? Somewhat unsurprisingly, it would be met by a mouthful of expletives that would have Mary Whitehouse doing a barrel roll in her grave. And it would be justified - the sentiment expressed - if not the languauge used. ...
So spoke Martin Wheatley, currently managing director of the FSA (Financial Services Authority) and chief executive designate of the FCA (Financial Conduct Authority). This was a comment he made as part of an interview (one of several that he has given over the past few days) about a report published by the FSA that revealed that many people who took out interest-only mortgages may never be able to repay...
