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Have you received an email from ‘propertyfinder.com’ asking for funds to be transferred by MoneyGram?

A company or individual is fraudulently using our name and logo to email people seeking rental properties in the Middle East. The company or individual asks prospective tenants to transfer money via ‘MoneyGram’ to secure a rental property.

THESE EMAILS ARE A SCAM.

The emails have nothing to do with propertyfinder.com. We are taking appropriate action in an attempt to stop the emails.

Propertyfinder.com deals only with estate agents and does not act on behalf of landlords or vendors. We will never ask for money on behalf of a landlord or act as an agent for a property.

Do not send money to anyone representing themselves as being from propertyfinder.com and acting on behalf of a landlord or vendor or as agent for a property.

IF YOU ARE IN ANY WAY SUSPICIOUS OF FRAUD PLEASE CONTACT KYRENIA GROSS ON +44 (0)844 502 1000.

Posted by Danielle Candler at 08:47 AM | Permalink | Comments (0)

18 months of dropping house prices mean many more homes are now worth less than their mortgages, research reveals.

Up to 900,000 homeowners are facing negative equity as plummeting house prices take their toll on the UK property

Read the full story.

Posted by Danielle Candler at 03:26 PM | Permalink | Comments (0)

Homeowners at risk of repossession can rest a little easier now after the government announced that it is to roll out a mortgage rescue scheme across England.

The move is part of a £200 million scheme that, the government claims, will ensure that repossession is always a last resort for householders in financial trouble.

Households with incomes under £60,000 a year and which contain vulnerable individuals including those with children and the elderly or disabled, will be eligible for help from the scheme.

Homeowners facing repossession can either sell a share of their home to a housing association, enabling their monthly mortgage payments to be significantly reduced, or they can sell the entire property to a housing association and remain in the property as tenants – and pay a subsidised rent.

The government says that the scheme will help up to 6,000 households avoid repossession over the next two years, and has been expanded after being trialled by 80 fast-track councils in December.

Also, anyone facing repossession now needs to only wait 13 weeks instead of 39 weeks after losing their job before receiving financial help from the government, and a Homeowner Mortgage Support Scheme is also to be introduced in partnership with lenders to enable borrowers to defer part of their mortgage payments for up to two years after being made redundant.

“We know that some families are worried about their mortgage payments right now, and we are determined to do everything possible to ensure repossession is always a last resort,� says housing minister Margaret Beckett. “Whatever the situation, the clear message for households struggling with their payments is to speak to their lender as soon as possible.�

For a full list of fast track councils offering the mortgage rescue plan visit www.communities.gov.uk/housing/buyingselling/mortgagerescuemeasures/

Posted by Danielle Candler at 12:35 PM | Permalink | Comments (0)

As returns on property investment dip during the credit crunch the Land Registry is warning investors not to plough their cash into the many so-called land banking schemes, many of which claim to offer attractive profits to investors.

The move is unprecedented in the Land Regsitry's history as it has rarely given advice on property investments such as land banking schemes - but after nearly a decade of the schemes running, it has decided to act.

Most land banking companies offer small plots of land for sale within fields that they say are soon to be granted planning permission when usually, the Land Registry says, the likelihood of permission being given to build on the land is almost zero.

The first sign that a land banking company is up and running on a field comes when paint or poles are used to identify the ‘plots’.

These strips of land are offered for sale, often online, and sometimes with the claim that there will be huge returns when planning permission is obtained for housing or other development – all for just a couple of thousand pounds.

But the land is usually in areas near or within green belts protected from development by planning law, and those offering the schemes often boost their credibility by claiming that major banks and developers back their schemes, when in reality this is ‘not the case’, the Land Registry says.

“In some extreme cases forged Land Registry letters have been produced to suggest that there is official Land Registry planning approval,� says Mike Westcott Rudd, head of corporate legal affairs at the Land Registry. “However, we play no part in the planning process.�

Posted by Danielle Candler at 12:29 PM | Permalink | Comments (0)

It’s official – when children finally leave home the couples left behind enjoy happier marriages, researchers at a US university have revealed.

A hundred women were interviewed at regular intervals between the ages of 18 and 61 as they passed through marriage, child-rearing and finally empty-nester life stages, and many of them reported that they were more happily married after their children left home.

Spending more quality time with their spouses was said to be the main reason for their increased marital bliss – as the benefits of fewer parenting responsibilities and less stress kicked in.

And while being interviewed by researchers from the University of California, the empty-nesters were keen to show their relief: “Twenty years ago, we were in the battle of the children – today, we can enjoy one another for who we are,� one woman said. “Once the kids grow up some of that stress – and responsibility – is removed so things are a little more relaxed.�

Researcher Sarah Gorchoff, who headed up the study, told The Times newspaper: “There is this idea that women are bereft when the children leave, but our data suggest that in fact they are happier�. She also added that “the take-home message for couples with young children is ‘hang in there’.

Her team’s research also revealed how the women, who were all born in the 1930s, faired in life and love – 84 per cent of them married before age 25 and 30 per cent divorced by age 45 which, Gorchoff says, is typical of their generation.

Posted by Danielle Candler at 12:40 PM | Permalink | Comments (0)

Britain’s swankiest addresses are being bought up by an increasingly large army of overseas buyers as both sliding prices and a weakening pound lure investors over, estate agents are reporting.
According to Knight Frank London in particular remains a popular destination with people from overseas and the firm says that the proportion of prime London property being bought by well-heeled overseas house hunters increased by 17 per cent during 2008.
The slide in property prices in famous-name London areas such as Belgravia, Canary Wharf, Chelsea, Hampstead, Kensington, Knightsbridge, Fulham and St John’s Wood is tempting over buyers from Europe, the Middle East and the US who know that much of London’s high-end property now represents a ‘bargain’.
For example, Knight Frank says prime residential prices in central London fell in October 2008 by 3.9 per cent, the fastest rate of decline on record .
“Up until the summer [of 2008] many vendors were holding to their pre-crunch asking prices,� says Liam Bailey, head of residential research at Knight Frank. “After what has taken place in the financial world, an increasing number of vendors have decided to cut prices to achieve a sale. Our index shows this trend clearly – with the rate of month-on-month price drops gathering pace.�
Independent prime London property consultant Charles McDowell says that such rapid price drops are making prime London property attractive to many foreign buyers for the first time.
“Well-heeled buyers from Euro and US dollar-dominated countries are arriving in London by the private planeload, as this is currently the best buying opportunity for them in many years,� he says.
And who would blame them when, he says, “a superb home that may have sold last year for £10 million is now on the market for £8.5 million�.
But it’s not just falling house prices enticing foreign buyers over. For years Brits have been buying up swathes of Spain, France, Italy and the US on the back of a strong pound – but now the parlous state of sterling means buying in the UK is now up to 30 per cent cheaper for anyone using dollars or euros to buy property in the UK.
“This increased foreign interested is not only at the top of the London market – we are also seeing something of a run on London boltholes around the £1 million mark too,� says Charles McDowell.
“For Italians buyers, for example, London now offers an excellent opportunity to escape an unfavourable domestic tax environment, but was until recently not a realistic property option.
“And It will be interesting to see if the capital freed up in London remains here or is moved to the country market.�

Posted by Danielle Candler at 12:44 PM | Permalink | Comments (0)

Before the term “credit crunch” entered the public domain and the market was soaring, most agents experienced a higher than average level of renewals as tenants tried to insulate themselves from escalating rents and increased demand for property. Come renewal time, many tenants found that they had to negotiate their rentals afresh and accept significant increases in order to remain in situ.

Now that conditions have changed dramatically, lettings departments are still presiding over a record number of renewals. This time around, however, everyone involved in the process is increasingly sensitive to increased outgoings. Tenants may be deciding whether or not to downsize as landlords are struggling to make their numbers come right with the higher cost of finance.

That being said, tenants realise that rents have moved on to a higher level generally and that relocating themselves, their families and belongings has its own significant costs. In turn, landlords are reluctant to incur void periods. Furthermore, a good landlord appreciates and respects a good tenant and is usually willing to accommodate them as much as is reasonable.

By way of a fair resolution, we are negotiating an upward adjustment for inflation in line with RPI. This figure (4.2% at time of going to press) is readily available from the Office of National Statistics as well as Lonres, the trade website. As agents, we also benefit from having an objective standard to assist us in carrying out our responsibility to our clients, as well as our duty of care to our customers.

Tessa Lang
Lettings Manager
Des Res Ltd.

Posted by Ben Henzell at 12:09 PM | Permalink | Comments (1)

The terms ‘freehold’, ‘leasehold’ and 'commonhold' refer to the different ways in which properties in England and Wales only can be owned. (Scotland follows separate regulations) 

Property expert Nicholas Leeming provides an overview of the terms...

Continue reading "Q&A What is the difference between freehold and leasehold?" »

Posted by Ben Henzell at 12:05 PM | Permalink | Comments (1)

The credit crunch has had a big impact on the property markets and has created both challenges and opportunities. One of the biggest frustrations which it has resulted in has been the lack of mortgage availability for even buyers with a relatively good financial record.

Property expert Nicholas Leeming gives his advice:

Continue reading "Q&A: How to manage your property finances after the credit crunch" »

Posted by Ben Henzell at 02:32 PM | Permalink | Comments (0)

Property expert Nicholas Leeming of propertyfinder.com answers your questions on stamp duty:

Continue reading "Q & A: Stamp Duty" »

Posted by Ben Henzell at 01:16 PM | Permalink | Comments (6)