A garage in central London could be sold for more than 300,000 this week – at least twice the price of an average first-time buyer home.It is on the market for 300,000 but will go to a sealed bid this week as it has attracted so much attention. This means it is likely to go for higher than the original asking price. The garage in Chelsea is being sold through Cluttons and its price highlights the problems lack of parking space causes in London. James Rodea, commercial director at Cluttons, says: “This just goes to show the premium for parking in Chelsea. But at least buying a garage there is cheaper than buying a football player. “People think property prices are going crazy again but there has never been a ripple in Chelsea. We have arranged three or four loans in that area for over 1m in past two months. There’s a glut of people wanting to buy but a lack of stock.” The shortage of parking space in London has pushed up prices of private garages, with secure garages fetching even more.
London & European, a provider of services and solutions designed to enhance the speed, simplicity and security of property transactions, has unveiled an insurance policy for lenders designed to cover performing loans and guarantee their securitised portfolios.Until now, title insurers have been unable to prove the financial benefits of title insurance, instead focusing on the […]
The latest survey conducted by specialist buy-to-let lender, Mortgage Trust, reveals that the number of buy-to-let landlords buying rental properties is double the number that are considering selling them. Some 25% of buy-to-let landlords surveyed stated that they were actively seeking to purchase new investment property, compared to only 12% who said they were thinking […]
The sub-prime sector has enormous potential to develop not only in this country but also in mortgage markets around the world, says Mike Culhane
Your Move, the UKs fourth largest estate agency, has moved all of its 200+ advisors to Mortgage Brains broker system and Mortgage Trading Exchange.Mortgage Brain says Your Move chose it because for it, the system offers the best point-of-sale and compliance solution from initial enquiry, through fact find, mortgage selection and KFI production. Mark Lofthouse, […]
Jim Grant – Senior Product Insight & Technical Support Analyst There’s sometimes confusion around what triggers the money purchase annual allowance. Find out what does and what doesn’t trigger the MPAA. The money purchase annual allowance (MPAA) is a reduced annual allowance that can apply to contributions to defined contribution (DC) schemes. The following table […]
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