In a move that will have surprised many market analysts the major UK back HSBC has announced plans to increase its mortgage lending in 2009. Despite the current downtrend in both lending and housing sales the bank clearly sees an opportunity to be exploited, and it could be that this speck of light at the end of the tunnel may spur other lenders into looking at the future with renewed optimism.
HSBC bucks the lending trend
December 13th, 2008 HIP-Consultant.co.uk Posted in Mortgages, Property Market | 3 Comments »
Reduce your bills as energy prices rise
December 12th, 2008 HIP-Consultant.co.uk Posted in Energy Saving | Comments Off on Reduce your bills as energy prices rise
Our daily lives are dominated by the necessary use of energy; gas and electric are a vital part of every day life. Both are expensive, and seemingly increasing with no signs of halting; we find ourselves evermore needing to look for ways of finding cheaper energy prices, or reducing our energy consumption.
Last week energy companies were threatened with possible legal action due to not passing on wholesale cuts in oil prices to consumers, which are linked to gas and electric prices.
Zero carbon homes, the future?
December 5th, 2008 HIP-Consultant.co.uk Posted in Energy Saving | 2 Comments »
It has been very difficult of late to pick up a newspaper, or turn on the news without hearing further of the fate of the world thanks to climate change. We are being told that we need to reduce our ‘carbon footprint’, in order to help bring down the damaging levels of carbon dioxide, the most prevalent ‘greenhouse gas’, that is gathering in our atmosphere.
Recently a number of ‘zero carbon’ homes have appeared on the market – but are they a genuine step forward, or simply a neat and timely sales pitch?
Looking to re-mortgage?
December 3rd, 2008 HIP-Consultant.co.uk Posted in Financial Products, Mortgages, Property Market | 3 Comments »
Many people are reluctant to consider the option of re-mortgaging given the current financial crisis, but it is something that everyone should keep in mind as there can be considerable savings to be made. Here are some thoughts when considering re-mortgaging:
1: Plan ahead – for those on a fixed term deal, keep in mind when your current package comes to an end and begin looking for alternatives a few months in advance. Securing a mortgage can be a lengthy process and making tracks in advance can be advantageous in making sure you get the right deal and at the right time.
2: Shop around for the right deal – The rise of comparison websites allows easy access to view a large number of varying types of mortgages and their specific terms and conditions. Remember that what looks like a very small percentage difference can amount to a very large monetary difference over the term of the loan – make sure all the information is given to you in plain and simple, and easy to understand, terms.
3: Once you find the right deal, make sure you secure it as the recent turmoil in the financial industry has seen lenders resort to withdrawing deals at very short notice.
Mortgages with a bad credit rating
December 1st, 2008 HIP-Consultant.co.uk Posted in Mortgages, Property Market | 6 Comments »
A poor credit record and rating can be a millstone around ones neck for a long time and a serious stumbling block when looking for a mortgage.The current economic crisis has not been an assistance to those with a poor credit rating; lenders who were once willing to lend to those with an adverse credit rating are becoming more difficult to find.
Perseverance is the key. It is by no means impossible for someone with a poor rating to secure a mortgage – there are a few things one can do to help the process.
The first, and most important point to think about when looking for a mortgage is the deposit you are able to put down. Having a poor credit rating can be as a result of circumstances that are long in the past and you may have managed to save a sizeable nest egg with which to apply leverage to the lender.
It is vital to stress just how beneficial this is, as a large deposit may open doors that may remain locked to those with little to offer.
Lenders will be more willing to negotiate with a potential buyer on a sliding scale that measures how much, or little of the capital they are needed to advance – the less the better, especially in the current climate of tightened financial belts.
A further factor to take into account is the lender itself: there are many lenders on the market who specialise in adverse credit mortgages and loans; whilst these companies were once viewed as unscrupulous traders all mortgage lenders must be and are now fully licensed.
What is Continuing Professional Development (CPD) for Domestic Energy Assessors?
November 25th, 2008 HIP-Consultant.co.uk Posted in EPC | 1 Comment »
Continuing Professional Development (CPD) is a method of improving your skills and knowledge base by constant development. This is achieved by the individual Domestic Energy Assessor (DEA) setting themselves a target for certain areas of improvement and learning across a given time.
There is not a set route or programme with regard to CPD as different people will begin the process at different levels of experience and knowledge; however, the process follows certain guidelines that allow each to achieve what is planned.
10 Myths of Home Information Packs (HIP)
November 24th, 2008 HIP-Consultant.co.uk Posted in Home Information Packs, Property Conveyancing | 15 Comments »
Home Information Packs (HIP) are becoming more widely accepted since the first date of implementation. However, with the Home Information Pack’s existence also comes some fallacies and myths which have been attached to them. Due to this we have decided to look at a selection of some commonly held misconceptions and some of the more unusual ones we have come across.
1. HIP stands for and is an abbreviation for Home Improvement Pack.
This a common mistake many make and one can certainly be forgiven for holding this belief. This error was recently made by the Communities and Local Government (CLG) when publishing a guidance document on Home Information Packs within their website. It has since been rectified.
Buy to let – a risky business?
November 21st, 2008 HIP-Consultant.co.uk Posted in Financial Products, Mortgages, Property Market | 1 Comment »
The buy to let market in the UK has been the subject of much speculation of late, with the press continuing to announce the premature death of the process. This may be proven to be wide of the mark for future investors with cash in their pockets and a long term view.
Landlords who entered the market in recent times (2006-2007) are likely to be in negative equity and those whom were highly leveraged are going to face challenging times as the mortgage market tightens its belt.
First time buyers – making the most of the financial crisis
November 19th, 2008 HIP-Consultant.co.uk Posted in Financial Products, Property Market | 3 Comments »
The worldwide economic downturn that has swept the financial markets has led to a serious decline in UK house sales and many construction companies have halted exisiting builds and made widespread redundancies.
This trend looks set to continue for the foreseeable future – most news agencies are forecasting a two year slump in sales and new builds – but what does it mean for the first time buyer?
To raise a cliché, there is good news, and there is bad news – which would you like first?
We will start with the bad news.
Finding a mortgage is going to be more difficult than for many a year as banks and lenders tighten their belts. The days of lending freely and willingly, especially loans of five and a half times ones salary are gone.
UK Property investment – what of the future?
November 17th, 2008 HIP-Consultant.co.uk Posted in Financial Products, Property Market | 4 Comments »
For the past ten years UK property has been a certified blue chip investment in the UK. Anybody who put their money into property ten years ago has seen their investment gain in value beyond expectations – until now.
The financial crash that has swept the world in the past few months has exerted an influence on the housing market to an already notable effect as the doom and gloom of predictions in the daily press have risen. Forecasts of a fall in prices over the next two years up to 30% have been popular and has cast a dark cloud over the UK housing market
What is then the truth about the prospects of property investing in the UK – is the market in terminal decline or is there a future in speculation?
While prices are no doubt set to continue to fall, there has to come a point where things level out – bricks and mortar can never be worth nothing after all. Potential investors in the market continue to closely read and follow the property news and analysis in order to determine just when this is likely to happen.
Predicting the trends in the housing market is considered by many to be something of a dark art but that need not be the case. Keeping a close eye on the press and housing prices in the area intended for investment, should give the interested observer an indicator of the severity of the fall to come.
A Twitter on the UK Property Market
November 15th, 2008 HIP-Consultant.co.uk Posted in Property Market | 3 Comments »
I have decided to join in the Twitter revolution on behalf of HIP-Consultant.co.uk. We are probably a little behind the times in utilising this great online information sharing tool but better late than never. Twitter is a free social messaging utility for staying connected in real-time to people you would like to ‘follow’ or allow to ‘follow’ you.
Initially we will be using Twitter to stay informed of updates from sites and blogs we regularlry read. This is already paying dividends allowing us quickly and easily to see and read what is happening and as it is published. So, after the first few days we have gained a few followers and are when time allows looking for others whom participate in our related field to follow.