Helping Innovate Property (HIP) – Blog, Housing Market News and Articles

Repaying your mortgage early can save you substantial amounts in interest payments and could be a great financial investment at present. With interest rates at their lowest in decades now maybe the time to increase your mortgage repayments or consider paying off a lump sum.

Before you arrange to make overpayments it is important to check a few details, do your homework and understand the pros and cons whichever type of mortgage you have and/or are considering.
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Shocking research has shown gas and electric prices could rise to such an extent your energy bills could rise to as high as £5,000 per year.

The research recently published has been carried out by uSwitch.com and forecasters concluded that on current trends that energy bills could reach £4,185 by 2020, in comparison to £1,243 at the moment.

In addition to the above, the Government plan to implement smart meters in homes, which it is anticipated will cost taxpayers an extra £548 a year. Therefore, equating that the cost for gas and electric for each household could be as high as £4,733 within a decade.

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After almost a year since our article ‘Should I train as a domestic energy assessor (DEA)? and the incredible number of responses and strength of feeling expressed from visitors, we felt it would be a good time to review the current situation.

Training as a domestic energy assessor and/or home inspector is still being  ‘sold’ in quite a widespread manner by what appears to be an increasing number of training providers. Is this because there is a need or a shortage within the industry? Or that training is now a growing profitable industry benefitting in these times of recession.

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Mark Goldberg, Head of Residential Sales at the one of the UK’s most prestigious real estates firms, Hamptons International, believes that signs of a dramatic improvement in the UK property market mean those wishing to sell have a chance three times greater than a year ago.

Hamptons report that in 2009 there has been a month-by-month increase in activity across the property sales market, with London and the Central England region performing particular well. Renewed health and confidence in property buying and letting in the some regions is likely to galvanise the broader national market as demand increases.

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So you are about to sell your property and are looking to choose an estate agent. It is imperative that you make use of the services of an informed, professional estate agent to get the best out of your deal and ensure the process is smooth and without problems.

We are all aware of the challenging financial situation most are currently encountering and the negative impact this has had on the property market. It has never been as important to carefully select your estate agent as it has at present.

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Recently it was reported that industry professionals are recognising the benefits of Home Information Packs (HIP). This is against the general negative slant the main stream media seem to want to promote.

HIP-Consultant.co.uk have been providing Home Information Packs for over 18 months and have witnessed numerous situations where Home Information Packs have benefitted the home buyer, home seller and the process itself. Without Home Information Packs; sales would have quite likely fallen through and at best would have held up proceedings to an extent the majority of people would be very unhappy with.

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BoKloK is a new concept of housing, first pioneered in Scandinavia by furniture giant IKEA and construction firm Skanska. In the UK, property company Live Smart @ Home has the exclusive licence to build BoKlok properties and its first development is at St James Village in Gateshead, Tyne & Wear.

This is the first development in the UK of the BoKlok concept which is also currently active in Sweden, Denmark, Norway and Finland. The arrival and development of these exciting properties in Gateshead further enhances the constant improvement and regeneration of the area. The state-of-the-art, Scandinavian-style timber framed properties are aimed at households earning between £15,000 and £35,000 a year and are being sold on a rented, outright sale or shared ownership basis.

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There are a rising number of landlords in the UK today, with reports of considerable numbers of first time landlords entering the market. With interests rates at an all time low, those with savings are now looking at the rental market as a way of generating an income. The rental market is showing good resilience at present as some first time buyers struggle to access a suitable mortgage and look for accomodation.

If you are one of these ‘unplanned’ landlords and are considering this option for the first time, you must be both eager to take advantage of the opportunity and considerate to the possible risks involved. We have produced some handy tips that will help you take this step boldly and confidently.

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Lloyds TSB’s (LON:LLOY) have announced a new 95% LTV mortgage product which requires a 5% deposit. By doing so it has claimed the distinction of being one of the few High Street lenders to offer such a high LTV home loans in these difficult times.

In these hard economic times, with virtually no banks offering a 95% loan to value mortgage, Lloyds TSB’s Lend A Hand mortgage scheme is a crucial step in encouraging other lenders to come out of their shells and will help attract first time buyers back into the marketplace.

For approval of Lloyds TSB’s Lend A Hand mortgage, a pre-requisite is to the holding of 20% of the mortgage value in a fixed savings account with Lloyds TSB. This feature benefits young buyers who can make use of their parent’s or other relatives’ savings to augment their deposit. While the savings will have to remain fixed for three years, Lloyds will maintain a hold on the amount until the homeowner has made enough payments to earn 10% in equity.

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In the last year the economic downturn has changed the face of the mortgage industry some claim for good. Banks and other lenders have cut mortgage lending severely and finding a mortgage is no longer an easy task.

Buying a house is one of the biggest purchases we make in our lives and picking the right mortgage is essential. Here is the conundrum: fewer lenders mean lesser choices, so in these tough economic times how do you still get the best mortgage deal. Below we will provide you with 10 valuable tips that will help guide you to your dream home and help find you a suitable mortgage.

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Home information Packs have received a positive response from associated industry professionals who are utilising and seeing the benefits of the legislation.

A recent poll which comprised of over 150 housing industry professionals, ranging from estate agents to mortgage lenders and property investors voted in favour of the Home Information Pack legislation and continued development at the Land Data Great Housing Market Debate.

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