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??? So-"Let's panic Mr Mainwaring!" - Whether you are old enough to remember the original "Dad's Army" or young enough to enjoy the repeats - the message is the same. There really is no need to panic! So called "Expert" views range from the near suicidal to the marginally downbeat. Now therefore is a good time to remember the old definition of "An Expert" "X" an unknown quantity and "Spurt" a drip under pressure"!! There are certainly a few of those around - but "the crunch"will pass; confidence will return; our clients are still buying!! The writer is old enough and ugly enough to remember many past "scare mongering" stories - but is it not all to do with supply and demand? Do we still have far too little land on which to build the housing required - nay DEMANDED from increasing numbers of households?? Stop building and rents go up; rents go up too much- people need to buy again. Right now the banks do not have enough confidence to lend money to each other. They are panicking to slow down the number of applications for mortgages they are getting. Recently they were bidding for Bank of England funds of c£25bn - what did the Bank release? - a mere £5bn. Recession or no recession in the States (which sounds far more dramatic than it really is) Banks will return to normal soon be it weeks, months or perhaps many months - in the meantime, just look at the profits they are posting! At Accelerated Mortgages, we are still busy. Many of our clients are picking up good bargains - that are always around if you are a professional and look in the right places. We can help you to do the same - or get ready to do so Please scroll down below
This Landlord is not for Panicking because it's a buyer's market ! As a serious professional landlord, you realise that NOW is always the time to look for properties that are going to keep rising at 29% pa and which "Buck the general trend" But to BUY AT BARGAIN PRICES you do need to Gear up your cash NOW Sellers -Some sellers are very keen to sell to "cash buyers" for all kinds of reasons - Some are desperate to move; others cannot afford their mortgage, or are "Virgin BTLetters" worried about risk. A quick deal is required AND SO IS CASH! If you have it - they will sell PROPERTY is available in a buyers market and ... ... Professional Landlords have "the nose" to spot these opportunities and are willing to take the risk & strike a bargain with sellers who may be faint hearted or who have been too ambitious and overstretched themselves. We are in touch with many landlords who are doing this successfully. They HAVE THE CASH AVAILABLE! DO YOU HAVE THE CASH AVAILABLE - for when you need it?
How do you get the cash? A small minority are fortunate and have cash piles sitting around. Most however need to get it ready at very short notice for when the deal is done, which could be this week, next week or in a few months time. THE EASY WAY is to PREPARE NOW!
THE HARD WAY is to agree a deal say at auction, think about it for a week or so then phone us and ask if we can help to complete in 7 days - yes, it really does happen!! We can still help you of course, but it is an adrenaline drive and it is inevitably more expensive. Generally, the way to run a professional business is "the easy way" as opposed to a part time "Wheeler Dealership way" perhaps using short term bridging loans. However, deals do sometimes arise at short notice and as that infuriating and inaccurate retail slogan says "when it's gone, it's gone! - and with property, it really has! (Another one is not on the shelf next week) So we are very happy to help with any short term solution As property investors ourselves, we try to save you money whenever we can. Everyone has to start somewhere of course, and we have helped out several clients who have been in this unfortunate state - and they have still made money on the deal. REMEMBER - A Professional Landlord will have a plan in place to get hold of his/her cash quickly, know where it is coming from and it will not be dependent on raising money on the property to be purchased. It will be in the form of "ready cash" sometimes or to top up balances - but more normally, it will be in the form of approved offers on one or more properties in the rest of the portfolio. That process will of course have started say 4-6 weeks earlier! Armed with one or more offers, you do not have to "draw down" the money until you are ready to use it on a new purchase. Equally, remember you are not committed to use it at all. As you approach the expiry date of the offer, we will be happy to discuss matters with you and help with trying to get the offer extended or discussing alternatives .
Prices up by only 29%?? Yes! See the Halifax report on price levels for December 2007 and growth over the past year. It makes exceptionally interesting, informed reading Northern Ireland 29.1% Growth in last 12 months Scotland 14.2% Growth in last 12 months Overall 5.2% Growth in last 12 months But Nationwide/The Mortgage Works/UCB - who have dropped their LTV to 75% because they do not have enough money to lend - comment on sucessive monthly falls for a few months and THE REPORTERS FROM THE MEDIA HAVE A "FIELD DAY" They ignore the "GOOD NEWS" that prices have risen consistently for over 120 months, they ignore the positive effects of "GEARING" on an investment (via a mortgage) and that Landlords look for BARGAINS - not average house prices!! SHOW ME A STOCKMARKET INVESTMENT THAT HAS THE SAME RECORD! PROFESSIONAL LANDLORDS ARE STILL INVESTING!! Like most aspects of economics, it is all a question of confidence in the underlying product (or "sentiment" as described so beautifully by "Fortune & Bird!) - do please click on http://break.com/index/how-we-got-into-the-subprime-mess.html (it's a cut and past job until my computer skills improve! - but it is not only very funny - it is SO NEAR THE TRUTH - UNFORTUNATELY!) The crucial question is how will it affect us in a practical sense? Supply and Demand have not been in balance for a long time, and they still are not in balance. Many more people want properties than the number available. Remember - “they stopped making land in GB some time ago!! The Economic & Social Research Council's publicly available figures show that in 2001 we had 25m dwellings housing 23.5m households (+Vacant and holiday homes) A century ago almost 90% of dwellings were rented but by 2001 it had dropped to 31% In the 70's over 400,000 houses were built pa. By the 90's it had dropped to 190,000 pa But growing number of people cannot afford to buy. Yet a growing population and a significant increase in people wanting or needing to live alone as a result of relationship breakdowns - and they all have to live somewhere!! So - This leaves a major imbalance to be plugged by professional landlords Neither the Government nor Housing Associations are going to fill that gap. Every accredited report we have seen still predicts the chronic need for more housing units of almost every type . Undoubtedly there are imbalances, short term difficulties, the pessimistic press reporters (who often seem to have never actually owned a property themselves in their lives-so they SEEM TO write about what they do not understand THIS EVEN APPLIES TO SOME OF THE "SEASONED" REPORTERS "Buy to Let" is a long term professional business opportunity - there will always be imbalances of supply and demand. The secret is to identify these imbalances in your area - buy them and fill the gaps. We can help you do that. The secret is to find out where those imbalances lie and meet the gaps!! We can
Piling Debts - Bridging Finance Secured Loans or even Bankruptcy looming? When you're in a hole - stop digging! Easier said than done of course - but nonetheless, vital. There are plenty of unscrupulous lenders out there who want to "help you" What they really want is to do a very quick deal for you, whilst somehow getting you to take your eye off the ball and end up signing a contract to borrow at truly outrageous rates - please Don't do it! By all means get a quote if you must - but then call us and we will make a professional comparison for you and advise you properly - TO GET YOU OUT OF THAT HOLE FOR THE LEAST COST. There are expensive ways to get out of a hole - read any broadsheet and you'll see plenty of advertisements. There are inexpensive ways - we know where and how to find them Please Call 01628 850 999
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