Tag Archives: House Prices

House Prices
Contractors can look at house prices and then get specialist contractor mortgages offers of up to about 95% of the house prices.

Recent initiatives by the Government, like Help to Buy and Buy To Let, have boosted the housing market.

Before this the market was in decline as lenders were insisting of deposits of 25% or more.

However, the Government’s Help to By programme, where they guaranteed 20% of the mortgage, kickstarted the market.

It meant first time buyers were able to get back into the market again.

All they needed was a deposit of 5%.

[caption id="attachment_616" align="alignnone" width="259"] House Prices Rising for Contractors due to Buy to Let and Help to Buy[/caption]

Tory Election Win Good for Specialist Contractor Mortgages Market

Posted on May 25, 2015 by admin

Tory Election Win Good for Market

Whether, you voted Tory, Labour, Liberal Democrat, SNP, UKIP, Green Party or you voted for no party at all, it can’t be denied that a Tory Election Win is going to be good for the Housing Market.

As that will be the case, a Tory election win will also be good for the Contractor Mortgages Market too.

Firstly, Labour’s Mansion Tax on properties over £2m will not now be implemented.

You may think that this won’t affect contractors too much. However, the price of houses and flats have gone through the roof in London, This is where a large percentage of contractors live and work.

London has become very much an international city and foreign buyers are pushing house prices higher there.

Supply and Demand for Property

Secondly, the Conservatives won’t be going on any public housing building programme that Labour might have done. This would have boosted the supply of houses and flats on the market.

As those who know their economics know there is the Laws of Supply and Demand. This says that if you increase the supply of a commodity then the price will fall.

There are also no plans by the Conservatives to give planning permission for houses on green belt sites or even in brown field sites in major cities.

This will keep the supply of houses down as the population rises. This is mainly based on heavy immigration which is mainly in the London area.

So, in the next few years, the factors will not be in place for a major increase in the supply of housing to the market.

Therefore, as the demand for housing is increasing, the price of housing should increase too as the supply of housing is rising at a slower rate.

Specialist Contractor Mortgages

The Tory election win will have a knock-on effect on the specialist contractor mortgages market.

This has been healthy for some time now. There seems to be no reason to expect that to change in the ear future.

To find out more information about Specialist Contractor Mortgages brokers, or to apply, click on Specialist Contractor Mortgages

Contractor Mortgages Market Boom – Best Places for Contractors to Buy

Posted on February 20, 2015 by admin

Contractor Mortgages Market Boom

There is a Contractor Mortgages Market boom, according to specialist contractor mortgages broker Tony Harris.

London has seen massive rises in the price of houses and apartments. With London becoming, more and more, an international city, the contractor mortgages market is set to continue in its upward path.

The best value in the next few years, though, could be in cities and areas who have more recently started rising in price.

Property Mortgages Market Boom Moving North

Every property market boom starts, firstly, in the south and gradually spreads throughout the country. It moves north generally.

The current contractor mortgages market boom is going that way.

This means that cities like Sheffield, Liverpool and Glasgow are likely to rise more than southern cities in he next few years. The contractor mortgages market is likely to increase significantly in those cities.

Property experts say that London house prices will continue to rise – but at a slower rate than northern cities.

Buy a House up North

Indeed, if a contractor from London got an extended contract in a northern city, like Liverpool or Glasgow, it might be a good idea to sell up in London and buy a house in Liverpool or Glasgow.

Firstly, it would be an absolutely palatial place you could get there just by selling a flat in a decent area of London.

Secondly, when it was time to go back down south again the contractor would get an even better property in London after selling his, or her, northern house for more than his previous place in London was now worth.

Your house could make more for you than your contract.

Average Annual Earnings

House prices in London are now 12 times Londoners average annual earnings. For the UK as a whole it is 6.3 times annual earnings.

Average house prices in both London and Oxford were now so high that they were more than 12 times local annual earnings – almost double the UK average of 6.3 times wages.

The cities where house prices have been rising for 6 years are as follows. They are Aberdeen, Bristol, Cardiff, London, Cambridge, Birmingham, Oxford and Manchester.

Contractor Mortgages Market Best Areas to Buy

Although property prices will continue to rise in those cities, it will be at a slower rate than the following cities which have only started to recover in the past two years.

They are Glasgow, Edinburgh, Liverpool, Newcastle, Sheffield and Leeds. Belfast has only started recovering in the past 18 months and houses there are at real bargain prices.

House Prices in those cities are only between 3 and 6 times local annual salaries. This makes them most affordable. There’s more room for property price rises in those cities.

London Property Boom

In the last 6 years the average property price in London has risen from £144,278 to £405,500. That’s astonishing. Part of that is due to London’s status as an international city.

The Government’s Help to Buy scheme has given a massive boost to the contractor mortgages market. It means that first time buyers could enter the housing market again.

They can get 95% mortgages now compared to 75% to 80% mortgages before.

Contractor Mortgages Maximum Offers

Low rates are also sending the market higher. These are the lowest rates that contractors have ever had – and many of the are taking fixed rate mortgages to lock in those low rates.

A contractor mortgages lenders war has intensified this year leading to some great bargains for contractors as regards mortgage rates.

Banks and building societies ask contractors for three years worth of accounts. Contractor mortgage brokers need just a copy of the contract.

High street banks and building societies base their offers on the contractor’s director’s salary. Contractor mortgage brokers base it on a contractors daily rate annualised – which is much more.

This has led to the current contractor mortgages market boom.

To find our more click on Specialist Contractor Mortgages

Contractor Crowdfunding Club

To learn more, or to join, our Contractor Crowdfunding Club click on Contractor Crowdfunding Opportunities

You’ll hear first about great crowdfunding opportunities and get in ahead of the crowd. Often these opportunities disappear in hours.

First Time Buyers Property Boom on back of Help to Buy

Posted on February 19, 2015 by admin

First Time Buyers Property Boom

A first time buyers property boom has sent the property market soaring. Prior to the Help to Buy scheme being brought in by the Government, contractors were having to stump up 20% to 25% deposits if they wanted to buy a house or apartment. As you can imagine, most first time buyers could not afford that.

Therefore, these high deposits pretty much excluded first time buyers from the market and they are normally the lifeblood of the property market.

Laws of Supply and Demand

If you cut the demand for a commodity then, if the supply stays the same, the price decreases. Equally, according to the economic Laws of Supply and Demand, if you increase the demand for a commodity, and the supply remains the same, then the price goes up.

That is why house prices were previously falling and now they are rising.

With the addition of first time buyers to the market the demand has increased and so the prices have been rising. This has been because of a first time buyers property boom.

House Prices Rising

Recent figures from the Office for National Statistics (ONS) have shown that house prices rose by 9.% in 2014.

Mortgage lenders have reported that this first time buyers property boom has led to a record level of mortgages sold to first time buyers.

The average house price is now £272,000 – up £22,000 in just a year.

Specialist Contractor Mortgages Market

There’s also a first time buyers property boom in the specialist contractor mortgages market, according to specialist contractor mortgages broker Tony Harris.

He has been getting contractors mortgages for years. You are always better to use a specialist contractor mortgages broker. They can get contractors the best deals.

He can get contractors mortgages based on their daily rate annualised times 4. All they have to do is produce a copy of their contract.

If contractors went to a high street bank or building society they would ask them for 3 years worth of accounts. Any offer would be based on their Director’s Salary too.

To find our more click on Specialist Contractor Mortgages

Contractor Crowdfunding Club

To learn more or to join our Contractor Crowdfunding Club click on Contractor Crowdfunding Opportunities

You’ll hear first about great crowdfunding opportunities and get in ahead of the crowd. Often these opportunities disappear in hours.

Help to Buy Property Boom sends Housing Market Soaring

Posted on February 16, 2015 by admin

Help to Buy Property Boom

House Prices soared by £6,000 just last month in England and Wales boosted by a Help to Buy Property Boom.

That’s up 2.4% in just a month.

There was a fall of 4% in the number of new sellers.

Everyone knows that, according to the Economic Laws of Supply and Demand, if the Demand remains the same and the Supply (of housing) decreases then the price of that commodity (houses) will rise.

So, that’s what has been happening.

Buy To Let Property Owners

It seems that Buy to Let property owners are hanging onto their properties. It also seems that Buy to Let investors are long-term investors and are less likely to sell than other property owners.

With more Buy to Let property owners about, that is decreasing the supply of properties for sale even further and pushing up the price.

With mortgage rates at record lows and the Government helping new property owners to get 95% mortgages, there is a Help to Buy property boom on full flow.

Many people’s houses are earning more than the people who live in them.

Lenders Competing for Customers

Estate Agents are saying that they are seeing the lowest ever level of quality properties on the market. No one is selling except those who have to, as they watch their house prices rise and rise.

Lenders are now having to compete aggressively for customers and UK Contractors are taking advantage and sealing in these great rates. There’s a mortgage war happening at the moment and a Help to Buy Property boom.

Specialist contractor mortgage brokers are getting contractors fantastic rates, at the moment, based on just the production of their contract. They are also getting them 95% Help to Buy mortgage offers based on their daily rate annualised.

For more information see Specialist Contractor Mortgages

Contractor Mortgages market boost from Help to Buy

Posted on January 14, 2015 by admin

Contractor Mortgages Market Boost

There has been a major contractor mortgages market boost from the new Help To Buy programme implemented by the Government.

Of course, we all know that Help to Buy was brought in by the Government to raise the price of houses so that there would be a feel good factor at the next election. People would feel a bit better off if their houses were rising in price.

However, the contractor mortgages market boost that the Help to Buy scheme has produced has been positive for contractors. It has especially allowed new contractors to get on the property ladder.

Banks and Building Societies

Previously banks and building societies were demanding a 20% deposit from those seeking loans. That was keeping first time buyers out of the market. It is first time buyers who are the lifeblood of the market.

The economic Laws of Supply and Demand kick in here. If there are fewer people competing to buy houses then the price will fall. If there are more people competing for houses then the price will rise. Those first time buyers will become second house buyers at some point.

Average house prices for first time buyers rose by 11% last year compared to 9.5% for existing owners.

Help to Buy Scheme

The Government’s Help to Buy scheme has caused this contractor mortgages market boost. Now, new buyers only have to come up with a 5% deposit instead of a 20% deposit. That makes a huge difference and has brought plenty of people into the market.

First time buyers last year paid an average Â£208,000 for their first homes. A 5% deposit would have come to an average of Â£10,400 which is easily payable by a contractor. A 20% deposit would come to Â£41,600. Even contractors would have to wait a while to gather that deposit.

UK House Prices

Existing owners paid an average of Â£312,000 for a house. UK house prices rose 10% overall last year. With a rise of 10% last year that gives a rise of 21% in two years.

Contractors would be much better to get their contractor mortgages through specialist contractor mortgage brokers as they get better rates and better offers and don’t have to show accounts.

To find out more, or to apply, you should click on Specialist Contractor Mortgages

Best Contractor Mortgages Rates & Offers

House Prices to Rise by 30%

Posted on October 12, 2014 by admin

House Prices to Rise

House prices to rise by 30% according to a new survey due to greater demand.

They are expected to rise by 30% over the next 5 years in the UK according to Rightmove, an online property portal.

House prices in London are expected to rise by 33% over the next 5 years despite signs of a recent cooling.

In the South East, house prices are predicted to rise by 37%. This will be caused by people moving out of the capital into commutable areas where the house prices are less onerous.

For instance, house prices in Southampton and Luton are expected to rise by 43% and 41%. They will rise in Brighton by 41% and Swindon by 40%.

The North West will see the slowest house price rises. However, they will still be up by 24%.

Good Time to Buy

This would be a good time to buy before house prices rise any more.

If you are looking to buy, contractors would be best to get quotes from specialist contractor mortgages brokers. Tony Harris has been getting contractors mortgages for over 15 years.

For instance, if you walk into a high street bank or building society they will demand to see three years worth of accounts before they would even think of offering you and contractor mortgages.

Furthermore, they would also base their offer on your Director’s salary, which most contractors like to keep low.

Daily Rate Based Offers

Specialist contractor mortgages brokers can get you quotes based on your daily rate annualised. They would calculate your yearly income as Daily Rate x 5 x 48. Furthermore, they would then make you an offer of around 4 times that depending on circumstances.

With Help to Buy you can now get contractor mortgage offers of up to 95%.

It seems that Tony can get first time contractors contractor mortgages offers on the very first day of their very first day contracting. It seems that they can have the keys to their dream homes in just 4 to 6 weeks after starting their first contract.

To find out more about specialist contractor mortgages or to apply you should click on Specialist Contractor Mortgages

Making money when you are out of work

Posted on August 28, 2014 by admin

Making Money

We advise you on making money when you are out of work.

Booming Houses

The property market is booming in the South of England, and further north as well. This will not last forever. At some point, i.e. when the recovery starts and interest rates rise, property prices, especially in the south, are going to turn downwards.

What can the people who are out of work do about this in terms of benefitting and making money? Well, if they are out of work, there is no reason that they need to continue living where they are currently.

If you are out of work, it might be an idea to sell your house in the South of England. Buy one in Scotland (outside Edinburgh or Glasgow) where the prices haven’t gone up by much so far. It’s a good way of making money.

Buy Value Property

If you had a property worth, say, 400 grand, you might save yourself a drop to 350 grand. You could buy one in Scotland for 400 grand. If you bought in Scotland, you might find, in the next year, that it had increased to 500K. This would mean that you are net 100K richer (less costs).

You would get a fantastic house in Scotland for 400K. Also, your wealth would increase by more than you would earn contracting (without the tax), whilst doing nothing (except a spot of salmon fishing).

Making Money from your House

You would make £100,000 on the house and saved yourself a loss of £50,000 on your previous property. Isn’t that a good way of making money? That’s as while having a holiday in Scotland for a year

When the market picks up next year, sell your house in Scotland and come back south. You would pick up a better house / flat than you had before.

Wouldn’t it be nice to breeze back down to the South of England and back to work after a nice year off, whilst your house in Scotland appreciated, and your house / flat back in the South depreciated?

To assist in this here is how to get in touch with a Specialist Contractor MortgagesÂ Broker

Help to Buy scheme – Can I use it? | Contractor Mortgages

Posted on June 16, 2014 by admin

Help to Buy Scheme

Would I be entitled to use the Help to Buy scheme?

The government has been under increasing pressure recently to review the Help to Buy scheme as it has been brandished as the catalyst for the so-called ‘housing bubble’. It would be quite damaging if the Chancellor was to turn his back on the Help to buy scheme now. This is because so many first time buyers have now got a foot up on to the housing market across the UK.

Official figures from the Department of Communities and Local Government have announced that approximately 74 borrowers are purchasing a house through Help to Buy on a daily basis.

Help to Buy Mortgages for UK Contractors

Specialist Contractor Mortgages

The Help to Buy scheme has enabled many prospective buyers who have been stuck on the sidelines of the property market. This is because they are unable to put together the necessary deposit. The average deposit put down by a borrower on the Help to Buy scheme was £13,031 in April. This compares to the average deposit of £61,325 from a buyer not using the scheme.

As a Contractor you too can benefit from this excellent scheme. There are certain criteria to meet in order to qualify. Equity loans are available to both first time buyers and home movers on new build homes in England. This is for a purchase price up to £600,000.

Who Is Eligible?

However, you would not be eligible if you already own a property. Also, you cannot sub-let the property. You require a 5% deposit. The Government will give you a loan up to 20% of the price. You will need to obtain a mortgage to cover the remaining 75%.

Please click on Specialist Contractor Mortgages. Then fill in the contact form for further details of the Help to Buy scheme rates. They’ll give you the current Halifax free valuation offer.

Halifax offer free valuation fees to home buyers – Contractor Mortgages

Posted on June 4, 2014 by admin

Halifax Offer

Contractors can now take an advantage of a Halifax Offer just for them.

House prices are continuing to rise. The average house is now worth 10.9% more than a year ago at £183,577.

The Independent Financial Advisers at ContractorFinancials have noted that all areas of the UK are experiencing this upturn in the housing market. It is not just confined to London and the South East.

According to Nationwide, in April buyer enquiries increased across the UK. Even more notably they also increased outside of London and the South East.

In fact the North West, North, the South West and East Midlands saw the most buyer enquiries. So, irrespective of where you live in the UK, the time is right to move onto or up the property ladder.

Moving House

As there are so many hidden costs involved in moving, can I actually afford to move?

Moving house can be an expensive process. Fortunately the specialist Advisers at ContractorFinancials are able to source which Lenders are offering the best value deals available to Contractors.

Free Valuation Fees

An exciting cost saving currently being offered by the Halifax is free valuation fees to home buyers. This is available to both first time buyers and home movers.

– The free valuation fees applies to all home buyers with a mortgage of £200,000 and above on selected products.
– The Halifax will refund your valuation fee if the initial purchase falls through. You can still complete on another property with the Halifax.
– This offer is for a limited time only.

Save Hundreds of Pounds

This offering by the Halifax can save Contractors hundreds of pounds in free valuation fees. That can make a big difference when you are saving for a deposit.

If you want further information, or want to apply for one of these mortgages with Free Valuation Fees, you should click on Specialist Contractor Mortgages

Contractor Mortgages Booming on Help to Buy

Posted on April 28, 2014 by admin

Specialist Contractor Mortgages Booming

Specialist Contractor Mortgages Brokers are seeing their market for contractor mortgages booming. This is mainly because of the effects of the Government’s Help to Buy scheme.

The average UK house price was up by 0.6% in April. They are now up by 6% in the past year and the rate is accelerating.

In London they were up 0.8% in April.

Record low interest rates are one factor in the rise. The recovery from the downturn is another.

Help to Buy

However, the biggest factor is the Government’s Help to Buy scheme.

Previously, mortgage companies were asking people to put up 25% or 20% deposits. This was keeping the crucial first time buyers out of the property market.

Now the Government’s Help to Buy scheme is allowing people to get 95% contractor mortgages again by guaranteeing 15% of the loan. This is bringing in pent-up demand from first time buyers. They just couldn’t get into the market, previously, but now see contractor mortgages booming.

The Government’s Help to Buy scheme, which started last October for existing houses, is scheduled to last for 3 years. The Government are hoping that rising house prices will create a feelgood factor. They hope this will help them get re-elected next year.

By the end of those 3 years, contractor mortgages booming will mean house prices are likely to be much higher than they are now. The Government hope that a more settled recovery will see banks and building societies in a better position, with healthier balance sheets. This is so they can give out 95% mortgages without any Government intervention.

Contractor Mortgage Market

Specialist Contractor Mortgages broker Tony Harris is seeing a major boost on the Contractor Mortgage market. This is specially from first time contractors.

Tony is able to get contractors mortgages at better rates than the marketplace. This is mainly because of his track record. It’s also because of the track record of the contractors he has got mortgages previously, who have not defaulted on their loans.

High Street banks and Building Societies demand three years worth of accounts. They only give contractors a multiple of their Director’s Salary.

Contract Based

However, Tony can get contractor mortgages based on just the production of their contract. Also, he can get it based on a multiple of their daily rate annualised. This has got contractor mortgages booming.

Indeed he can get new contractors mortgage offers on the very first day of their very first contract.

To find out more or apply you should click on Specialist Contractor Mortgages

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