House
sale does not always include everything!
February 28th, 2008
Home owners are increasingly stripping their properties
of the fixtures and fittings when they sell up, especially
if they accept a lower price than they wanted to.
Sellers have drastically reduced what they are prepared
to include in a house sale in recent months, a study
by online conveyancers Convex.net showed.
Fixtures and fittings such as curtains and lights are
either being taken away, or charged separately, while
fewer house-sellers are prepared to include white goods
such as fridges, freezers, cookers etc in the advertised
sale price. Sellers are also likely to take away garden
sheds, greenhouses, plants and even tree houses, according
to the study of 430 transactions.
The managing director of Convex.net said “We are finding
that people will declare that they are taking everything
possible and then try to squeeze more money out of the
buyer by asking for extra to leave them.”
Article courtesy of Your Money, Yorkshire Post
Are you obsessed with your
credit cards?
February 28th, 2008
Britons are twice as likely to have a credit card as
people in any other country in Western Europe. The average
Briton had 1.4 credit cards in their wallet at the end
of 2007, twice as many as second place Norway, where
people had an average of just 0.7 of the cards each,
according to market analyst Datamonitor.
At the other end of the scale only 1 in every 16 cards
in Germany is a credit card, rising only slightly to
1 in 10 in Sweden, Denmark and France. Britons’ extensive
use of credit cards has seen them collectively run up
£54.93bn in plastic debt at the end of 2007, according
to Bank of England figures.
Article courtesy of Your Money, Yorkshire Post
Home repossessions to increase
in 2008
February 22nd, 2008
Experts believe that the figure for home repossessions
in 2007, when 27,100 homes were reclaimed by lenders,
will simply prove to be the calm before the storm. It
is expected that the figure for 2008 will be significantly
higher.
The Council of Mortgage Lenders had previously forecasted
that the number of properties taken back by lenders
would soar by 50% this year to reach 45,000. However,
the group said recently that it was difficult to forecast
what the likely level of arrears and repossessions would
now be. It added that a fall in interest rates may help
some people who previously would have found themselves
overstretched, particularly those coming off fixed rate
deals that were taken out a few years ago when the rates
were much lower.
Article courtesy of NEWS, Yorkshire Post
How safe is your home?
February 22nd, 2008
The number of homes repossessed soared by a massive
21 per cent last year to reach an eight-year high, and
experts warned the situation was likely to get worse.
A total of 27,100 homes were taken back by lenders
in 2007 after their owners failed to keep up with mortgage
repayments, more than triple the number three years
ago, according to the Council of Mortgage Lenders.
The group warned that the situation was likely to worsen
during 2008 as mortgage lenders tightened their lending
criteria amid the global credit crunch. Further, the
number of mortgages that were in arrears of more than
three months rose by nearly 9 per cent during 2007 to
an astonishing 129,800.
Article courtesy of NEWS, Yorkshire Post
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