News Review - February 4th 2009

Hope you had an enjoyable weekend.

An extremely good way to inform yourself about the different elements of the property market is through the well established online network of property blogs. We have provided you with some of our picks below.

This week gone has given us very little hope in terms of seeing a recovery in the property market but so much the better for picking up some bargain properties!

Press and Journal: Probably the mortgage deal of the century!

Over 1,000 homeowners could be left paying interest of just 8p a month on their mortgage if the Bank of England base rate is cut again this week, it emerged yesterday.

"At a rate of 0.001%, people with a £100,000 mortgage would be paying just 8p interest a month, while a full repayment mortgage on a loan of this size would cost around £333 a month."

Estate Agent Today: The cost of HIPs where personal searches are included is likely to rise from April 6, says HIP provider Peter Ambrose.
This, according the story, is due to the fact that from that date search companies will no longer be insured for incomplete information.

Estate Agent Today: A case at Leeds County Court has highlighted that letting agents may face proceedings over tenancy deposits.
Compulsory tenancy deposit protection makes it illegal for any letting agent or landlord to take a tenant’s deposit unless it is protected in one of three Government-approved schemes. Whoever takes the deposit must also tell give the tenant certain information within 14 days, including details of the scheme, address of the rental property, and address and name of the landlord. Failure to do so could lead to tough penalties.

Wales Online: David Williamson from the Western Mail reveals how housing associations in Wales are seeing today's prices as a great opportunity to increase housing stock.
The Assembley Government have unlocked 15 million pounds to buy up discounted houses. The scheme is targeting unsold homes and plots from private contractors.

Telegraph: Scottish Widows, which is owned by Lloyds Banking Group, has become the latest institution to halt withdrawals from a property fund.
A 180-day delay period will be enforced on its £596m Life Property Fund over concerns that policyholders could look to pull out because of the dramatic slump in the commercial property market.

In other breaking news:

C4 property guru hit by crunch

The Location, Location, Location expert, 39, admitted Garrington Home Finders had suffered from the "rapid downturn" in the property market.

"We're working hard to put together a viable solution and hope any potential redundancies can be kept to a minimum," he said.

Also capturing today's sports pages is news that Cristiano Ronaldo is aiming his sights on becoming a property tycoon! At a time when property values are decreasing, he apparently sees buying up a portfolio as a very sensible long-term investment.

Today's Average rental yields for London Properties

These figures come to us daily from London Property Watch.

Top 4 London Post codes for 1 Bedroom Flats

Top 4 London post codes for 2 Bedroom Flats

Top 4 London post codes for 3 Bedroom Flats

Our pick of the blogs

The Rat and MouseThe best British property blog out there, whether your interest in property is recreational or obsessional.

HousepricecrashNo prizes for guessing the slant of this blog. There is a veritable mountain of information and news as it breaks updated throughout the day.

Property FinderA comprehensive blog with just the right balance of humour, debate and advice. There is a section for CEOs, property market commentary, and stories of strange happenings in the world of property.

Landlord Law Low on entertainment, but high on enlightenment. All buy-to-let landlords should make this a regular read.

Lettings News One of the UK’s most popular letting only property portal. Whether you’re searching for the perfect property to rent, have a property you need to let or just want to find the best letting agents in your area – they’ve got it covered.

Mortgage.blog Based upon educating people on financing properties; equipping them with a better understanding of how the system works so they may have more control.

If you have something to say about any of this week's articles, click here to comment. The more controversial the better!

That's it for this week

Kind Regards,

James
Director | Complete Property Investment
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Phone: 0207 193 4799
Skype: jnashcpi
www.completepropertyinvestment.com