Property Booking Process

3 Important Benefits Of Property Booking

Are you planning to sell your residential property? Or maybe you are thinking about renting it out in order to generate a steady stream of income? Regardless of what you want to do, there are numerous reasons why you should avoid exclusively relying on traditional marketing techniques. Sending out flyers and posting banners may still work, but there is a much more effective technique to increase the exposure of your property. In this resource, you will learn the three most important benefits of property booking and why you should consider it right now.

Laser Targeted Traffic

The first thing you need to understand is that online listing websites already enjoy a stable stream of targeted visitors each month. Some of the biggest websites get hundreds of thousands of online visitors. Just imagine how much this can benefit you, whether you plan on selling or renting your property.

Even if you have already taken the time to set up a website for your property, it’s still worth using listing websites as they make things so much easier. You no longer have to worry about your own traffic generation methods. You simply have to list your property on their site and benefit from instant exposure to potential buyers.

Ease of Use

There is also no learning curve involved when using these websites. Even a complete beginner can use these platforms to list any property, whether for rent or for sale. In general, most of these websites function the same. All you have to do is to list your property and fill in the necessary information. You need to verify this information with the website. You also get the option of uploading photos of your property, which helps in engaging potential investors or tenants.

Small Investment

You need to understand that there is a small price to pay when using listing websites. In most cases, you will pay a small commission when somebody finds your listing and buys or rents your property. This might sound costly, but in reality, it is well worth the money. It’s similar to asking a real estate agent to deal with everything for you, only this time, you are using a powerful online platform to get the job done.

Property booking offers a lot of benefits whether you want to rent your property or sell it. Take your time in researching the best platforms to use, focusing on ones that attract the highest number of local traffic.

Shared Ownership Greenwich

Want To Learn About Shared Ownership Greenwich

Shared Ownership Greenwich

Shared ownership means that you get to own a share of the property but will pay rent for the remaining share; you will be able to buy a larger share of the property at a later date. Shared ownership Greenwich is a government-backed initiative which allows people to get onto the property ladder, it is mostly aimed at first time buyers. Moat Homes is a leading housing association which employs over 300 people and provides homes in communities throughout South East England and has been doing this for over forty years. They have properties available in many different counties such as Essex, Kent and South East London, and also Boroughs such as Greenwich and Maidstone. Shared ownership Greenwich means that you do have the option to purchase further shares into the property. You can buy as little as a 10% share per transaction, the only problem is you’re limited to no more than three transactions, this means that must achieve 100% ownership by your third transaction. You will purchase each share at the current market value. With each share that you purchase, the rent that you pay reduces according to the new percentage owned. When you reach 100% ownership, you will no longer have to pay any rent on the property. You will need to contact your mortgage advisor, if you’re increasing your mortgage by stair casing.

It may work out that your rent and mortgage is cheaper for you rather than buying out right. You may want to spend some time working out comparisons with prices and any other details, an independent mortgage advisor could help with this. You will be required to pay a deposit for your mortgage, as well as other costs will include legal fees and mortgage arrangement fees, make sure to consider these when working out costs. To be eligible for shared ownership, you will have to be at least 18 years old, a first time buyer; although there are some other circumstances which housing associations will allow depending on your situation. Also you mustn’t be able to purchase a home which is suitable for your needs on the open market and you must have a household income of less than £80,000 or £90,000 in the London Borough..

The process of shared ownership Greenwich would start with you registering your interest with a housing association. This means you will be added to their mailing list so they can notify you of any properties that you may be interested in which have recently become available. Then if you manage to find a property which you’re interested in and it meets your needs then you will go on to view the property and from there if you choose if you would like to reserve it. The final step of this process is the purchase process; this means that if you manage to successfully be allocated with a home to purchase, then you should appoint a solicitor to arrange a mortgage. If you’re successfully allocated a home to rent, then you will be notified of your tenancy start date.

Part Buy Part Rent Essex

Part Buy Part Rent Essex

Part Buy Part Rent Essex

Shared ownership Essex is a government-backed initiative which helps individual, usually first time buyers to get onto the property ladder. Shared ownership Essex allows individuals to purchase a share of a property ion Essex and pay rent on the remaining share, this means they will own a percentage of the property. This is ideal for first-time buyers and those who are no longer able to purchase a property but have in the past, as they may aren’t able to purchase a home outright. Doing it this way they can purchase further shares of the property at a later date when they can afford to do so and this can result in them owning the whole property. There are certain requirements which will make you eligible for shared ownership and you must meet all if not most of these requirements. You need to be either a first time buyer or someone who has previously owned a property, although there are some other circumstances that are accepted depending on the situation, also you mustn’t be able to purchase a property which is suitable for your needs on the open market. You need to be a minimum of 18 years old, this is very important and your household income needs to be less than £60,000. Read more about Part Buy Part Rent Essex here.

Shared ownership Essex means that you will have the chance to purchase more shares into the property in the future. You are able to purchase as little as a 10% share per transaction, the only problem with this is that with most housing associations you’re normally limited to three transactions, this means that if you want to you must achieve 100% ownership within your three transactions. Each share you buy will be bought at the current market value. With each share that you purchase, the rent that you have to pay will decrease according to the new percentage owned. Once you reach 100% ownership, you will no longer have to pay any rent on the property. Paying for your rent and mortgage could even work out to be cheaper than purchasing a property. This is why it’s important that you to spend time working out different costs before making a decision, an independent mortgage advisor could help you with this. When you are working out calculations and costs of this, make sure that you pay attention to other costs which will be included for example the deposit for your mortgage and legal fees. You will have to sort your mortgage with a high street lender. The process is made up of three easy steps. The first step is to register your interest with a housing association; this is so that they can mail you homes which are have recently come available and are what you’re looking for. Then you would go on to view the property. Then the final step is to appoint a solicitor so that you can arrange a mortgage,

You will have to sort your mortgage with a high street lender. The process is made up of three easy steps. The first step is to register your interest with a housing association; this is so that they can mail you homes which are have recently come available and are what you’re looking for. Then you would go on to view the property. Then the final step is to appoint a solicitor so that you can arrange a mortgage, however if you’re renting at this time you will be notified of the tenancy start date.

 

Property for sale in South East London

Property for sale in South East London

Property for sale in South East London

South East London contains 5 boroughs; these boroughs are Southwark, Lewisham, Greenwich, Bexley, and Bromley. If you’re looking to purchase one of the property for sale in South East London, then there are many fantastic ones to choose from such as small bungalows and cottages, larger family homes, and also your more traditional 3 bedroom family homes. A selection of these homes come with fantastic gardens and pieces of land offering stunning views, then if you choose to purchase one of apartments or penthouses rather than one of the houses for sale south east London, you will still have a stunning view. There is plenty of things to do around the houses in south east London, meaning you’ll never be bored and can have plenty of days out with family and friends.

There are some outstanding houses in south east London which are available through shared ownership. Shared ownership means you will get to own a share of the property and you will need to pay rent for the remaining share of the property. Shared ownership helps individuals to get onto the property ladder; it is mostly aimed at first time buyers. Many people will choose the option of stair casing, this is because it will reduce the rent that they have to pay on a property, another reason is because when it comes to selling your home, the bigger the percentages that you own, the more profit that you will make if the value of your home increases. You can purchase as little as a 10% share per transaction, the downside of this is that with most housing associations you are limited to three transactions. This means that if you want to have complete ownership of your home at some point in the future then you need to gain 100% ownership by your third transaction. Each share that you purchase will mean that the rent that you pay will decrease according to the new percentage which you own. Once you reach 100% ownership, you will no longer have to pay any rent on the property although with some housing associations you may still be eligible for service charges and ground rent if applicable. To be eligible for shared ownership, you will need to be at least 18 years old, a first time buyer or previous home owner who can no longer afford to purchase a property, however there are some other circumstances with certain housing associations that will allow you to go through with shared ownership depending on your situation. Also your current household income must be less than £60,000.

It can work out that paying for your rent and mortgage is cheaper for you rather than purchasing a home outright, this is why it’s important for you to spend time working out all of the separate costs and comparisons. When you’re working out the cost makes sure that you include all of the other costs such as the deposit for your mortgage, legal fees and mortgage arrangement fees.

Shared Ownership

Learn More About Shared Ownership

Shared Ownership

Want to get on to the property ladder but struggling to stack it up financially Shared Ownership could be the answer.

Shared Ownership is where you buy just a share of a property (between 25% and 75%) from one of the UK’s housing associations. You then pay the housing association an ‘affordable rent’ on whatever part you don’t own.

What kind of property can I buy?

This will vary according to the specific housing association. But generally, Shared Ownership schemes can be applied to new-build and existing properties – all of which will be leasehold.

Am I eligible?

You can qualify for the shared ownership scheme if:

  • You are a first-time buyer or non-homeowner (although you may have owned in the past) who cannot afford to buy a home outright.
  • Your household earns £60,000 a year or less. This rises to £71,000 if you’re buying a one or two-bedroom property in London and to £85,000 if you’re buying a three or more bedroom property in London. (Note – from April 2016, these household earnings thresholds will be raised to £90,000 a year in the capital and £80,000 for the rest of the country.)

If you are aged over 55, you may qualify for the Older People’s Shared Ownership scheme. But, unlike the wider Shared Ownership, here you can only ever own a maximum of 75% of your home.

If you have a long-term disability, you can apply for another Shared Ownership scheme, known as Home Ownership for People with Long-Term Disabilities (HOLD).

If you already live in a local authority property, you may be able to apply for Social HomeBuy. This works in the same way as Shared Ownership but offers a discount on the value of your property on the first and any further shares you purchase.

What costs should I expect?

  • Deposit: Typically, you’ll need to raise a deposit of at least 10% of the share of property you are buying. You’ll also need to secure a mortgage for the remainder of that share from a bank or building society.
  • Rent: You’ll then have to pay rent to the respective housing association on whatever the share of the home you don’t own.
  • Fees: All normal house-buying costs will still apply such as mortgage and legal fees, surveys and Stamp Duty.
  • Annual charges: As Shared Ownership properties are leasehold, there will probably be annual service charges to pay to maintain common areas and grounds.

How do I buy more of the property?

Once you’re in, you can buy more shares of the property from the housing association until you own it outright, a process known as ‘staircasing’.

The cost of your additional shares will depend on the value of your home at the time you choose to buy them. So if the value of your property goes up, so will the price of your shares. Likewise, if the value of your home falls, the price of your shares will be cheaper.

Each time you want to buy another share, the housing association will value the property – and you’ll be charged the valuer’s fee.

The greater the share of the property you own, the less you will pay in rent. And once you own the property outright, you will no longer need to pay any rent at all.

What happens when I want to sell?

When it comes to selling, the process will depend on how much of the home you own. If you still own just a share of your home, the housing association has the right to find a buyer for it. The property will be known as a ‘Shared Ownership resale property’.

If you have staircased and now own 100% of your home, you will be able to sell it yourself. However, for 21 years from the date the home became 100% yours, the housing association may have the right to buy it back first – known as ‘first refusal’.

How do I buy a Shared Ownership resale property?

The buying process is almost exactly the same for existing resale properties and new-build Shared Ownership homes. The only difference is that the minimum share a new buyer can purchase will have to be the same or more than the one the current seller owns. Beyond that, buyers can purchase up to 75% of the home, or just whatever share they can afford.

What are the advantages of buying a Shared Ownership property?

It can be a good way (or the only way) to get on to the property ladder – or live in a much bigger home than if you bought outright.

And because you are only buying a share, the mortgage you will need to secure against the home will be significantly smaller than if you were to buy without the scheme.

You may also be able to save extra cash after you’ve paid your rent, which you can invest later on in further shares of your home.

What are the main disadvantages of buying a shared ownership property?

Even if you are eligible for Shared Ownership, not all lenders offer mortgages for Shared Ownership homes.

Once moved in, you won’t be able to make any major changes or improvements unless it’s stated you can in the lease and you have permission from the landlord.

If you decide to sell before owning 100% of a Shared Ownership home, the housing association has the right to find you the buyer. And even once you own 100% of it, you may have to give the housing association first refusal when you come to sell.

Find out more here.

Housing

A Leading Housing Association In South East England

Shared ownership is a government scheme which helps individuals such as first time buyers to get onto the property ladder. Shared ownership allows people to purchase a share of a property, so that they own part of it but pay rent for the remaining share. This is ideal for first time buyers as they may not be able to purchase a home outright and this way they can purchase further shares of the property at a later date to result in possibly owning the whole property. (more…)