Tag Archives: property valuation

Putting it all together – The what, the why part 2 Guest Columns

Read part one of the what the why

Armed with your investment budget you are ready to go in search of property bargains. You must look for areas of value where price corrections have been overdone, areas where prices have been dragged down by a greater number of bank repossession properties. Today such areas mainly occur in greater numbers in the North.

Property value is best illustrated by looking at The Nationwide first time buyer gross house price to earnings ratios. Continue reading Putting it all together – The what, the why part 2

Judge Hits Out at Buy to Let Lender’s Poor Underwriting Buy to Let News, Latest Articles, Property Market News

A buy to let lender was slammed for a landlord mortgage of £166,500 without carrying out proper income checks in a negligence case at the High Court.

GMAC-RFC – now trading as Paratus-AMC – agreed the 90% loan-to-value advance on a £185,000 property valuation from Countrywide in 2004. Continue reading Judge Hits Out at Buy to Let Lender’s Poor Underwriting

Housing Market Boosted by Surge in Buy to Let Buy to Let News, Latest Articles, Mortgage News, Property Market News

Rising Blue Arrow

"85% more Buy to let valuations than August 2010"

Surging buy to let mortgage applications have boosted mortgage valuations to record summer levels, according to surveyors.

Property valuations for landlords were up 85 per cent in August on figures of 12 months ago, according to Connells Survey and Valuation.

The total number of valuations in August was just 4 per cent lower than July, but the number of valuations grew by 49 per cent year on year.

“We’ve had our strongest August since 2007 and the expected August dip hasn’t really materialised. Valuation activity was 96 per cent of the level in July, and with the summer holidays coming to a close, we expect it to pick up pace as September progresses.” said John Bagshaw, corporate services director of Connells Survey and Valuation. Continue reading Housing Market Boosted by Surge in Buy to Let

Property fraudsters to pay £200,000 or face longer in jail Cautionary Tales, Latest Articles

rustic looking Gavel

"More property frauds"

Crooked property investors who lied on mortgage applications to finance 19 buy to let homes have to pay back £200,000 of rents in six months or face longer in jail.

John and Helen Rose, 45, from Doncaster, were sentenced in February last year, for fraud following an 18 month investigation by South Yorkshire Police.

They admitted telling lies on mortgage applications and receiving rental income from the homes they bought by fraud.

Now, police are pursuing a confiscation inquiry under proceeds of crime laws.

At Sheffield Crown Court, the criminal gains the couple made were calculated as £1,280,000.00.

The Rose’s have been ordered to pay £200,000 in the next six months. Failure to hand over the cash will result in longer prison sentences.

Police and courts will monitor their finances to recover the remaining cash over the next six years, with any property or assets seized to pay back the amount they owe.

Temporary Detective Inspector Steve Leach said: “This sends out a clear message that any gains made from crime, at some point, will all have to be paid back.

“I would always ask the public to report people who are committing crimes and living above their lawful means, and to not let them get away with it.”

Mortgage scam valuer jailed for taking £1 million in gifts

Surveyor Mary-Jane Rathie, who accepted £1 million of cars and cash for taking part in a £10 million mortgage fraud, has been jailed for six years at The Old Bailey.

Rathie, 45, who worked for valuers Ashdown Lyons, was found guilty of five charges of fraud and concealing criminal property in a trial last month.

She artificially inflated luxury property valuations in London for clients who fraudulently obtained mortgages.

Quick guide to property surveys and valuations Latest Articles, Property Investment Strategies

subsidence crack in brick wallBuying a home or investing in a letting property are important financial decisions, but many buyers fall in to the trap of relying on the wrong information that could cost them dear.
Findings from the Royal Institution of Chartered Surveyors (RICS) revealed around one in four homebuyers picked up bills averaging £1,800 for unplanned building work after picking up the keys to their new property.
This quick guide looks at the main points to consider about property surveys and valuations: Continue reading Quick guide to property surveys and valuations

Loophole that beats HMRC’s IHT tax grab Latest Articles, Property Investment News, Tax News

House on CalculatorTaxpayers who have fallen foul of HM Revenue and Customs policy of checking out property valuations targeting larger inheritance tax payments from estates can fight back with a little known loophole.

Refunds on overpaid inheritance tax (IHT) can be claimed for homes that are worth less than the value on the deceased owner’s date of death. Continue reading Loophole that beats HMRC’s IHT tax grab

IHT simplification results in 80 pages of guidance! Estate Planning, Financial Advice, Latest Articles

An effort by the taxman to simplify inheritance tax valuations and forms has resulted in the publication of 80 pages of guidance notes.

Solicitors and estate planners specialising in IHT have seen a number of changes from HM Revenue and Customs in recent months – including a new online self-assessment system for dealing with tax returns for trusts and revision of many IHT forms. Continue reading IHT simplification results in 80 pages of guidance!

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