NEWS & SPEAKERS
In our news section, read articles and blog posts from our past speakers and from West London Property Networking members.
There is no doubt in my mind that, unfortunately, the UK is going to slip into recession. This means that businesses will close and people will lose their jobs. As a result, the property market will see a fall in prices.
Personally, I don’t think it will be a crash as big as the 2008/2009 property crash. Let’s be honest, no one really knows what will happen to property prices. But if I had to take a guess, I would say that I think it could be an average of 15% reduction in values. Some areas may be more and some areas may be less.
So what makes me say 15%? Well the Bank of England have said, they think this could be the drop in house prices. I think many property surveyors have taken this on board.
I am in the process of re-mortgaging a number of my properties, one of which is a large house in Halifax. I converted this into 7 apartments about 6 years ago.
Powering up your Investing with Contribution Compass
You will have heard the phrase that property is a people business, but what does that mean?
I’d like to share some thoughts around this topic that hopefully will give you a new perspective on how you can make this work for you.
I started my property journey proper back in 2011 after running the New York Marathon. That was quite a pivotal time for me as there were many changes in my life. In the intervening years I have had many learning experiences, some of which were quite extreme. This has made me stronger and more resilient but also better equipped to help others achieve success.
My first speaking engagement since returning from 6 months in Australia was in Kensington, London. The West London Property Network was welcoming and offered food and drink in the ticket price too.
If you couldn’t make it, don’t worry, here’s some of the key points to help you.
Education: When starting out make sure you learn with someone who is also investing and who’s values you relate to. Check them out on social media, look for reviews and speak to people who are learning with them.
Peer-to-peer lending (P2P) – sometimes referred to as crowdfunding – is not quite as old as the century, but has already shown that it’s a compelling proposition for borrowers and lenders alike and therefore a hot topic.
P2P took off in the UK with the launch of Zopa in 2004, offering loans to individuals, and was shortly joined by business lending specialist Funding Circle. While these remain the two best-known operations in the market, the sector mushroomed in the wake of the financial crisis, driven by a combination of banks’ restricting lending – a credit crunch that keeps on crunching for many – and the rapid development of the underlying financial technology that has enabled the efficient matching of lender and borrower, and the tracking of their loans.
“The UK online alternative finance industry market volume grew by 35% year-on-year to reach £6.19 billion in 2017,” according to The Cambridge Centre for Alternative Finance in their last full-year figures (2017) – that’s almost ten-fold the £667m in 2013 (P2P grows quicker than its analysts can gather data on it, it seems). Globally, it’s expected to be worth $898bn by 2024. Not exactly ‘alternative’ finance.
Jackie Tomes of Tomes Homes says ‘I bang on so much about the difference between a Strategy & a Business Model… so I thought it was time I brought ours to life!’
We buy blocks of flats. Exclusively.
Why do we do that?
For us it is the right Balance of Risk vs. Reward.
We buy existing blocks of flats, we don’t do the conversion.
Some blocks we buy in good condition and they are let from day one that we purchase them, others are in poor condition and we complete a full refurbishment before they are let.
– If it’s the former, we are able to be on buy-to-let style finance from day-1, which greatly reduces the risk when compared with a conversion or development opportunity
– if it’s the latter, the refurbishment works are purely cosmetic so they are quick – so you can get onto a low interest rate, long term finance product within 3-6 months of purchase.
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What a better start to the West London Property Networking blog than an interview to its founder: Pelin Martin? Pelin is a Property Manager and the owner of Blue Crystal Property Management. Actually, she defines herself as a "Property Mother", as she's been called by...