Items Tagged With valuation

Many housing associations are buying repossessed properties for these very reasons and then renting them out after the necessary works have been done. They have the money in hand to carry out the renovations and are very unlikely to default on the loans. They are therefore considered 'safe' pairs of hands by lenders.

This benefits everyone because the more repossessed properties are taken out of circulation, the more other house prices can rise. The more values rise, the more companies can grow as businessmen can once again secure their loans to expand. The depth of the last recession in the UK was as much to do with credit squeeze (individuals and businesses not being able to borrow) as it was with temporarily high interest rates and a drop in overseas business.

And finally:

• NEVER make your final offer your first one

If you can afford to go higher, don't give the vendor that knowledge. Go LOW to start off with and then see what the counter position is. However, don't be silly with that first offer. The vendors may consider you a time-waster and simply dismiss you out-of-hand. Ask the estate agent what THEY consider a fair valuation and then go below that. You'll all probably end up at their figure anyway, provided there aren't large amounts of extra work that need doing on the building.

Getting the property at the right price is not only important from the point of view of how much you'll pay, it is also vital to whether you'll get a mortgage or not.

I've got to be honest and say that I write much of this with tongue firmly in cheek as our house was a bungalow that had four extra bedrooms, an extra bathoom, large conservatory and very extensive garden works, all done before we moved in 15 years ago. It is certainly not in the best of areas.

However, it is the house that my father built with his own hands for my grandfather, I was born literally across the road in a nursing home and my great-grandfather had a house at the bottom of the road that was probably the best for miles around (it was subsequently torn down by hungry developers for the land). I also have no long term intentions of moving

As someone just about to take on the biggest debt of your life you need to know EXACTLY how to find the best product AND how to apply it to your best advantage. Structuring your mortgage to its optimum cost-effectiveness is ESSENTIAL, IRRESPECTIVE OF HOW GOOD A PRODUCT YOU TAKE ON. The best interest rate applied carelessly will still end up costing you more per month than is absolutely necessary.

There are many ways you can buy potatoes. At the local corner shop or in the out-of-town supermarket. Ready washed in small bags or unwashed by the half-hundredweight. Bakers or roasters. Named or unnamed.

A lot of potential decisions, but often people just "buy a bag of tates whilst they're out shopping". Those in-the-know will buy very specifically because they understand the taste and texture benefits they'll get from a clever purchase. Those who haven't a clue will take what's on the shelf.

There are many reasons why we choose a particular house to be our new home. Some are practical, but in truth it is the emotional ones that have an overriding influence:

• A new job requires a move to a new area
  
  
• Your relations, or your partner's relations, live in a particular area
  
  
• One area has better job prospects than another
  
  
• You need to move to cope with a growing family
  
  
• You want to "trade up" (or "trade down") to a different house, or area
  
  
• You want to retire
  
  
• You want a change