PropertyClassifieds

Section 21 has long been one of the most divisive elements of the Housing Act 1988 but government proposals to scrap it, as announced in April of 2019, have caused some concern within the property industry in the UK. It was a shock announcement by the government, not one that was expected by landlords and associations that represent them, and much has been made of the possible impacts of Section 21 eviction no longer being on the statute book. With this in mind, we have decided to take a closer look at what these effects might be. But first, here’s a little more background about Section 21. What is Section 21? Introduced as part of the  Housing Act 1988 , a Section 21 notice is usually the first step taken by a landlord to regain possession of their property from a tenant. Over the years it has come to be known as a ‘no fault eviction’ because the landlord does not have to provide a reason for wishing to do so. Changes to the Section 21 laws were made as recently as 2015, which add...

Property investors are worried. It’s not surprising given what is going on in the world right now. But what exactly are they worried about and are these fears justified? Here we take a closer look at the biggest fears of investors in 2020 and try to establish how the UK property market will cope in the coming weeks and months. Is a recession coming? Many investors are still reeling from the shock of the  2007-08  financial crisis . A lot of people were hit badly at this time, a consequence of being overconfident and not being able to see the threat of what was coming. As a result of this, investors are much more cautious about a similar event reoccurring. And given what is happening in the world right now, there are very legitimate fears that another recession is coming. The Covid-19 situation has had, and will continue to have, a huge impact on the UK economy. Jobs have been lost, businesses will be affected, and the overall economy will suffer as a result of this enforced pe...

There’s little doubt that the recent pandemic and ensuing lockdown period is going to have long lasting effects on the economy of the UK. But has the impact of the coronavirus on the property market in the UK really been that bad? Yes, plenty of people have been furloughed, jobs will certainly be lost and there will be an element of uncertainty around until a definitive cure or way out of the pandemic is discovered. But there is some good news. It’s not all doom and gloom. In fact, the latest figures show that the UK property market has already bounced back to pre-Covid levels – and we’re not even totally out of the woods. As reported in The Guardian this week, according to  Zoopla , pent up demand is firming up asking prices, with the average asking prices being up 6% from the same week in June from last year. Prices in London have not caught up at the same level as in other parts of the country, but this merely reflects a trend that was happening before all the virus news hit our...

If you’re in need of selling your home or property fast and have seen one of those ads from a company saying “we pay cash for your home” stop for a minute and read this first, as there are other options available which may be more suitable for your circumstances. Selling a property fast and why you might specifically require a quick sale Everyone’s circumstances are different of course, but there are many reasons why a property owner might be seeking a quick sale. You might be seriously behind on mortgage repayments and not have long before the lender files for eviction. If there’s any equity left in the property after the loan amount you would seriously be risking your chances of salvaging any of the equity remaining in your property by leaving it to the bank to sell on, after all they are only interested in recovering what is owed to them! Either way, it’s going to be best if you try selling your home for a price  you  deem suitable right? Even if it’s to one of those compan...

There are a few things that everybody thinks they know about property investment. One is that you make a lot of money. And two is that anybody can do it. But are these ‘facts’ both true? The answer is partially yes, and partially no. While it is true that you can make money out of property investing, you need to be realistic. The stories you hear about landlords swimming in cash are rarely true. There is money to be made but it involves careful long-term planning, a cautious strategy with risk minimizing and an ability to be patient. So, what about our second ‘fact’? Can anybody invest in property? Well, in short, yes. If you have the required amount of capital to invest or an ability to borrow either privately or through acceptable lending channels, then anyone can invest in property. However, property investing is a skill and involves an ability to emotionally distance yourself. Remember that investing is not the same as buying a home for yourself, and the sooner you realise this the...