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With the average house price in the UK being £254,000 and £500,000 in London, the average salary of £26,500 isn’t anywhere near enough to cover buying a home. Even if you go in with a partner earning the same, there is still around a £50,000 deposit required get a mortgage. Many find it hard to scrape together living costs, let alone save for a deposit when living away from the parental home. Thankfully the bank of Mum and Dad is there for many. Around 80% of first time buyers under 30 get financial assistance from their parents according to the Council of Mortgage Lenders. That’s a...
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In 2013, just under 40,000 tenants were evicted from their homes by court appointed bailiffs according to the Ministry of Justice. This is the highest number since records began and is exasperated in London where rents are rising faster than wages. If people lose their jobs or their unsustainable lifestyles catch up with them when their credit supply stops, how can you protect against loss of rent? The simple answer is landlord insurance. Before the tenants even sign a tenancy agreement, a comprehensive reference check should be carried out looking into their last tenancy to see if they paid...
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With just under 8.2 million people squeezed into 606 square miles, London is one of the most populous places in the UK and 24th in the world. All these people need a place to live. London is often in the top 5 of the world’s most expensive cities to buy property and in 2013 it was number 2 just behind Monaco. Why are London prices so expensive and tipped to continue rising? The simple answer is that it is the financial capital of Europe and quite possibly the world. From the City of London to Canary Wharf, vast sums of money exchange hands each day with bankers, insurance brokers and lawyers...
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The London estate agent Homefinders has been named amongst the best in London by industry experts AllAgents.
The largest directory and review website for the property industry, AllAgents is a professional rating engine. It has named two of the Homefinders branches as being amongst the best in their area for 2013. The accolade comes as the family run company, which has a number of locations throughout East and North London, continues to garner five star reviews from clients.The two branches recognised as being one of the top three in the area were the Homefinders Hackney office in the E8...
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A property consultant called CBRE has recently published a report listing London's property hotspots for investment. Factors such as population increase, new infrastructure projects and regeneration were taken into consideration to work out which areas would offer the best return. Top of the list is our very own Hackney. Having seen house prices double in the past decade, it is home to many entrepreneurs, creatives and those priced out of the city. The area has seen vast regeneration across its borders with new transport links such as the east London line improving access to the rest of...
