Zoopla property auction underway.

The latest Zoopla online property auction gets under way.

Those in the market to buy and invest might want to check it out.

Just a word of advice.  Take the guide price with a pinch of salt.  It is what it says...not a likely selling price.

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Interest rates kept on hold

No real surprise, was it?

Read more on the no surprise here -

from the BBC
from the Telegraph


Free property management software, Free tenancy agreements

Property price twitter - changeable

Still sunny out there, but is the rain on its way?

Why house price slump could pick up speed - Guardian
House prices to fall for five years - Cityam
Longest house price slump for a lifetime forecast - Mail
Sharp drop in Welsh house prices - BBC
UK house prices remain static - BBC
April house prices fall 0.2 according to Nationwide - Reuters
Big fall in Scottish house sales - BBC


See all the property price tweets

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Landlord gets suspended sentence

A Nuneaton landlord has been given a suspended sentence for failing to keep his rental property up to basic health and safety standards.

The rental property in Coventry had no hot water, no heating, faulty electrics and gas appliances, rising damp and mould throughout, leaks to plumbing and collapsed ceilings for more than 2 years.

The landlord Steven Boote received a six-month prison sentence suspended for a year, £30,000 in costs and 200 hours of community service.

Read more in this BBC article

Trapped homeowners doing DIY on credit

British homeowners who are unable to sell their home are taking out loans and spending large amounts on credit cards to make improvements to their properties. According to research from price comparison website moneysupermarket.com, one in five Brits have borrowed money to fund home improvements, with the average resulting debt totalling £14,037.

The poll also revealed that 16 per cent of Brits planned to take advantage of April’s bank holiday weekends by embarking on some home improvements and a further one in five plan to take out a loan in the near future in order to make home adjustments.

Although some owners have no doubt caught the DIY bug, experts suggest that the slow property market has been a factor in many people’s decisions to launch into home-based projects and in turn borrow money.

Tim Moss, head of loans and debt at moneysupermarket, said: "Following the drop in house prices, many people may be left in negative equity and unable to sell their property. Therefore homeowners who had been looking to move may be forced to spend money to improve the value of their property, or simply make changes to ensure they can live happily in their home for an extended period.”

With the housing market remaining difficult due to lack of mortgage approvals combined with rising house prices, the outlook for those currently struggling to sell their homes is problematic. However, not all property owners have access to credit to improve their homes. For those who would prefer not to borrow or are unable to do so, or owners who are experiencing pressures which mean they require a quick sale, there are other options. Gateway Homes are specialist property buyers who offer homeowners quick sales on their properties, whatever the location or condition of their homes. If you think you may benefit from their help, take a look at their website at www.gateway-homes.co.uk.

Buy-to-let stabbing

This sad story just shows how badly things can spiral down when the buy-to-let bubble bursts.
A middle aged couple fell for the dream of financial security from property investing, they invested in a portfolio of new build apartments, most likely over priced, resulting in their dream of security crashing around them.

The unfortunate couple were apparently left with a rental loss of £4000 a month. I must admit in the current rental market if their portfolio of 20 apartments were fully let I find that hard to work out unless the reversion rates on their buy to let mortgages were very high, but this is what the Daily Mail claims.

A drunken argument over their desperate financial situation lead Jennifer Parkinson to stab her husband, Michael to death.

This tale does highlight the risks involved in heavily leveraged property investment.

Make sure you understand the risks that this strategy involves before you start risking everything!

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