The New Planning Permission Rules in the UK

There are now new planning permission rules in the UK and if you haven’t heard about them yet, it’s time to get informed. Planning permission is no longer needed for a great number of homeowners for things such as loft conversions and rear extensions. This eliminates a great number of all planning applications from the system. Non-overbearing loft conversions can receive automatic permission. Rear extensions don’t have a cap on volume now. But this is just the beginning of the changes that are taking place.

To fully understand the new planning permission rules, it helps to know why the rules have changed. The new rules are intended to cut out planning permissions for nearly 80,000 households each year. This could save as much as £1,000 for many cases which is extremely helpful to families in need that may already be stretched for cash.

The new planning permission rules will make home improvements easier and more affordable. This will improve the quality of the housing market by a great deal which benefits both individuals as well as property investors.

Planning permission rules have been in place for some time and for good reasons. The laws regarding existing buildings or existing settlement areas usually pertain to the neighborliness of the design and how it will be accepted by the occupants of the building as well as the neighborhood.

When seeking planning permission, there are different things that will be looked at such as:

These are just the basics for most areas. There are some specific areas that have more restrictions or regulations on them such as a conservation area and if you plan to build or renovate on such areas, different regulations may apply which is why planning permissions are required first.

Permitted development is a set legislative agreement regarding development that can be done without planning permission. As long as development falls within the parameters and equations of permitted development, there are no restrictions or planning permissions necessary.

Here are some basic guidelines regarding the new planning permission rules. Remember that these are subject to change and subject to your particular residential area and these are just meant to be guidelines.

Basic Guidelines

Roof: you generally do not need planning permissions to renovate or replace your roofing, add skylights or make other improvements to the roof of your home.

Chimney: Provided the proper rules are adhered to, you typically do not need permission to replace, alter or improve your chimney, flue, or soil and vent pipe.

Extensions and additions: As of October 1, 2008, you generally do not need planning permission first to extend or add to your home (such as an extra room) provided you follow the existing rules and regulations to residential extensions.

Sheds and storage: Generally, you do not need to get planning permission before adding sheds and other storage areas to your property (such as in the garden or back yard) provided you follow the proper regulations.

This is just a brief look at the many new planning permission rules designed to make it easier for people to build on, add to, renovate and improve their homes and properties. You can use these new rules to your advantage.

Some useful sites for more information

Planning Portal

About Property UK

How to Get a Better Price for Your Property

Are you planning to sell a property and want to ensure you get the best price possible? Well, you’re not alone. Everyone wants to get as much as they can when selling a property whether it be their own personal property or an investment property.

There are three main areas that you can focus on when it comes to fixing up your home to sell:

These are some of the most often used areas of the home and they are things that can make a big impression on a buyer if you take even just a little time and investment to fix them up. Let’s take a look at each one individually.

Kitchen

Think of how much time is spent in the kitchen. Families must cook meals here and most eat here. It is often the part of the home that guests see and it is most often one of the most used rooms in the home. Because it is so often used, there is a great deal of wear and tear that can go on in the kitchen.

Even just the smallest of upgrades and improvements in the kitchen can help you get a better price on your property. Upgrading appliances, wallpaper, flooring or even re-facing cabinets can go a long way toward improving the appearance and functionality of the kitchen. Potential buyers will see this and it will greatly affect how much they are willing to pay for your property.

Bathroom

How many does the home have? How important is the bathroom? This is the most used room in the home. People who live there use it, guests use it and it’s often the room that guests are alone in for the most time while visiting. This means the bathroom (s) in a home can say a lot about the property itself.

When you take the time to upgrade the bathroom, even small details can make a big difference. Upgrading the fixtures and replacing the toilet and sink, adding energy saving water options and light options, professionally cleaning or removing soap scum, water stains and other ugliness are all worth the investments involved when it comes to getting more for your property at sale.

Take the time to show that you care about the bathroom and it shows that you care about the property and its value. When you go to sell, you can ask for more because you’ve invested into these small but important details.

Fixtures and fittings

It’s true that the small things can make a big statement and this is true for the fixtures and fittings in the home as well. The fixtures and fittings of the home are a bit like the icing on a cake. They really finish off the whole look and make it more appetizing.

You can obtain new fixtures and fittings for the home at really low prices. In fact, it’s often possible to buy bulk and get a big discount. Light switch faceplates, cabinet door knobs and regular door knobs throughout the home can be replaced with new, fixed if broken or even all installed to match or go along with a theme.

Even these small things go a long way when it comes to your property and how to get a better price for your property. Buyers today are looking for quality and that personal touch. Show them that you care about your property and you will make a sale- for the price you want!

Thinking Rich Can Make You Rich

Do you think rich? How often have you thought about what it would be like to be rich? How seriously do you want to achieve riches? If you ask, nearly anyone will admit that they would like to have more money. Most will also agree that they would like to be rich. But how many people really achieve these goals? How many people take it seriously enough to begin thinking rich and believing rich?

There are few who do but of those who do, it greatly increases their chances of achieving these goals of becoming rich. The power of the mind may be greater than you think.

The mindset of the wealthy is a serious thing. Developing a rich mindset can actually help you become rich. While you can’t just think it and make it so, there are many ways that thinking rich can ultimately help you achieve your goals of riches.

Here’s how:

As you can see, thinking rich can make you rich, if not immediately, than in time and in combination with other tactics and techniques. When you want to find riches and success, your first step needs to be to get your mindset in order.

Make a plan for why you deserve to be rich. Write it down or type it up but keep it in written form so you can refer to it often. List things you want to do once you become rich and goals you want to accomplish.

Next you also want to create a plan to get there. Write down things you can do each and every day to help you grow closer to your goal of becoming rich. Look at them every day. Read it aloud to yourself. Start thinking like you are rich and you just might wake up one day to find yourself there.

The Top 10 Countries to Buy Property in 2008

Where was the hottest spot to buy property in 2008? As 2008 has just ended, that makes us wonder where the year has taken the property investing world. There have been a great number of ups and downs and 2008 has been financially challenging for many countries. So where have the Brits been buying when buying abroad? Is it worth it to invest in countries that are showing economic hardship?

Could this be an opportunity to take advantage of and get a good market deal? So many questions arise when you begin to talk of such topics. Europe has some great countries for investing and if you’re looking to broaden your portfolio with some new properties, here are 10 countries to consider:

These are a great pick for the top 10 countries to buy property in 2008. It’s not too late to invest your money in a smart choice that will bring in profits for 2009 and the years to come.

Investing in Property in 2009

Property investors may be wondering where 2009 will take them. Are you ready for the New Year? Do you know why property is still a good investment both at home and abroad for 2009? There are many opportunities awaiting the savvy investor who will stick it out in the New Year.

Here are some reasons to invest in ’09:

Here are the house price predictions for 2009 which show you why property investing is still a good market to pursue:

Property and housing prices are predicted and expected to fall even further with the New Year. For those who have enjoyed the dropping prices in ’08, you have even more to look forward to in ’09. Experts believe that prices won’t yet re-stabilize themselves with the coming year and that in fact, they may continue to drop even more.

This makes 2009 a great year for buyers and investors. The economy is showing us this will be the case. Britain is entering its steepest recession since the early 80’s and shows no signs of pulling out of it right away. If it continues, it can be the worst recession since the 30’s. Unemployment has reached an all-time high with over 1 million jobless and Britain isn’t alone in this recession.

All over the globe finances are suffering and this makes the prices in the housing and property market low. This is an excellent time to buy in investment properties while the house market continues to fall.

The problem with housing in the UK, as well as other countries, was not a shortage of housing but instead a shortage of affordable housing. You can look around at newly built, empty housing developments and partially built houses that have halted in production to see that there is no shortage of houses to choose from. The problem is that no one could afford to buy them!

Now many of these newly built or developed properties are standing vacant waiting for someone to snatch them up and turn them around for a profit and that someone could be you in the New Year. 

The state of the market

As 2008 draws to a close, we look back on the housing market and the economy and many of us might be thinking, “Wow, what happened?” 2008 was a very eventful year indeed. It was a year in which the global banking system fell and problems that began as a US economical issue became or worldwide, international crisis.

The financial problems split from the banking sector to virtually all economic sectors and then across the globe. The UK began seeing problems in early 2008 with signs that things would only get worse. For property investors, it was hard to judge if this was just another slump or the beginning of a devastating recession that could easily lead to a depression.

By April, most UK property investors knew the smart move was to steer clear of new property investments in the UK and many began to look abroad to strengthen their portfolios. Property in the UK went from bad to worse with many homes and developments left unfinished, sitting as a constant reminder of the condition of the market.

The US didn’t fare much better with homes being foreclosed on left and right and people left homeless or unable to purchase new homes. Many were forced to rent and many for sale homes stood vacant and market prices dropped more and more and still no one was able to buy.

Most were denied loans as banks had to scrutinize their deals and loans and those who may have been eligible for a loan became suspicious and untrusting of the banks and financial institutions. The market in the UK continued to drop throughout 2008 and many predictions think it will reach the bottom in ’09. While it’s uncertain how much longer it will last, one thing remains true: there isn’t much further to go to reach the bottom.

What has happened to housing prices in the US and the UK over the past year? It’s hard to sum it all up in one line since these are ever-changing markets. With the economies of both countries facing troubles, it’s easy to say the housing markets have been unstable at best.

Savvy investors do not have to let this be their downfall. While most are cautious about getting into the US or UK markets too soon, there is a wealth of opportunity in other countries. Many investors have used 2008 as an opportunity to create a global portfolio.

I’ve had a lot of emails from people asking about money matters in general so I thought I would show you some of the sites I visit for money advice and tips. Use them to your advantage. If you want to get ahead, it pays to use every opportunity you are given.

These ten websites can help you with your money in many ways from saving to investing and even smart spending and more. If you want to be a smart consumer, a savvy investor or just to stop worrying about living paycheck to paycheck, you can greatly benefit from these website resources.

If you’re thinking about buying overseas or investing in the overseas property market, this could be a great time to get involved if you are a cash buyer. In fact, right now having cash in the bank can greatly benefit you if you are thinking about buying overseas.

 

Why it that cash can be so beneficial at this time and what counties can you hope to find the best deals in right now if you have cash to buy and are not borrowing from the bank?

Credit crunch

 

It has been a gloomy 2008 on the economic front and the property markets have seen the effects of a dropping market in both the US and the UK. Many people are worried over investments that have dropped due to the stock market losses or homes that are being foreclosed upon.

 

While it’s an unfortunate situation for many individuals and families, it can open the doors of opportunity to many property market investors. So what is one of the best ways to make a real profit in the current market? If you have cash, you can buy overseas for an excellent bargain.

Buying with cash

 

Often you can find a property for a fraction of the price is the seller does not have to worry about financing or loan payments. When you can pay cash outright for it, it’s yours for a lot less. You can then turn around and resell or let that same property for a great turnover profit. This is a great opportunity for someone in rental property as many people who have lost their homes or cannot afford to buy will be looking for rental properties.

 

Now has never been a better time to buy as long as you have cash. How can you make it work for you?

 

·         First, determine how much cash you have to invest

·         Next, think about where you want to invest

·         Third, do some research into the market of that area

·         Look at actual homes or real estate that meets your criteria

·         Negotiate a deal with the sellers

·         Buy your property with cash and reap the benefits!

 

For example, you can now buy flats in Los Angeles, California for $280,000 (£170,000) that would have cost $450,000 a year ago. Many big cities in the US and the UK have excellent homes for the taking if you have the cash. Cash really makes all the difference and bumps you up in line when it comes to who gets access to buying these homes. No one wants to have to risk the loan process with these trying economic times so cash is true gold in the property world.

 

But the US isn’t the only place to find great cash deals on properties. Spain is also reported to have great rates and bargains for people who are paying in cash. There are other areas of the world which are considered “high risk” for banks to loan to. In these areas, you can make a cash purchase and get a great deal from someone who has been trying to sell a home in a market that is bad for getting a bank loan.

 

The pound to dollar exchange rate is not that good just  but you can still make a profit buying overseas with cash. The experts predict that this will continue and that if you have the cash to invest, you can get great deals and also “win” high-sought properties from people who need to purchase with a bank loan. If you can avoid it, experts say you should not borrow to purchase property, especially investment real estate. 

Should you Still Invest in Property

I am often asked the question at seminars and speaking engagements ‘Should I still invest in property?’. The answer is not an easy one to answer without knowing your financial circumstances.

With the current trends in house prices in the UK and what many people are calling this another crash in the market, should you still invest in property? Is this a dangerous risk to be a property investor in these trying times? The media may have you thinking you should run away with any profits now and seek a new career for yourself but maybe investing right now isn’t such a terrible idea. How can you know for yourself if it’s the right choice to make?

When you’re trying to decide if you should still invest in property, you should look at past trends in the market to help you make your decision. We can always look to the past and common trends to give us an idea of what might happen in our future. While it’s impossible to completely predict the future of anything, especially the housing market, we can look to past trends to help us guess what could happen in the future and when the best time to invest will be.

Over the past 40-70 years, there have been dips in the UK house prices but the trend has always been up. While things will dip or sloop in the financial market and the housing market, they always come back up again. A great investor will learn how to ride these trend waves and always come out on top. Part of achieving this will depend on your ability to predict the trends and where they will go as well as when there will be highs and when there will be lows.

How can you know how in 2008 and going into 2009 if you should still invest in property? The first thing you need to consider is what type of property you will be investing in. Are you buying to rent, to resell or for some other purpose? Knowing your purpose for investing will greatly help your ability to invest in property successfully even in what may seem uncertain times for the housing market in the UK.

Overall, property investors have actually had it pretty good for the past few years. Almost anyone who wanted to make money buying a property to rent in the country could do so successfully. You could pretty easily make money buying a property to rent as a long-term investment. Even in poor economic times, people need a place to live.

When houses aren’t easy to buy, this means there are more people looking to rent. This means there is a market for you as well. All you need to do is get your priorities in line, research the market properly and pick your target market carefully. When you find a good location, and if you find a great price, you will be on your way to a great investment opportunity.

Rural property is one option that is popular for investors. This is a good time to buy a rural property for less than its market value. You can also find old fashioned homes or homes that need updated which make a great investment property. Many experts in the field believe 2009 will bring an increase in growth of rentals which means good news for property investors but of course, no one can ever be certain what the future holds.

So far it looks like 2009 could be a good time to buy to let or invest in rental properties but ultimately only you can make the final decision of whether or not you should still invest in property at this time. The same basic rules to all types of investing will apply: never invest in what you can’t afford to risk. Just in case things go for better instead of worse, you want to be sure you are protected.

First Time Buyer Help

If you’re looking to buy a house for the first time in the UK, you might have a lot of questions, especially if you are buying right now in a market that is a bit unstable. Lenders are not giving home loans as often as they once did and getting a first time buyer loan can seem even more difficult.

This is an uncertain time for home buyers. Average prices are around £169,000 so are still very high in most parts of the country although we are seeing them dip in many areas. In addition to the high prices, banks don’t want to give out loans and are more restrictive and selective with who they loan to especially if you are a first time buyer.

For many first time buyers, getting a loan is the most difficult part of the process. For others, getting a deposit or handling the legal fees is also a problem. For still others, understanding the paperwork, acquiring the necessary paperwork and understanding contracts is a problem.

Types of Help

So what types of help are out there for people who are trying to buy a home for the first time? One of your first steps should be to obtain as much information as possible, so one type of help is in the form of knowledge. You need to learn as much as possible about the home buying process and how it all works. You should learn about contracts, terms, types of loans, mortgages and more so that when you start the home buying process as a first time buyer, you are more informed.

Next, you need to know how to find a property. Don’t avoid getting help with knowing what type of home you need, how much it should cost and how you can get it. You also need to seek Home Information Packs. The introduction of Home Information Packs (HIP) in the UK helps make the property buying process more transparent, quicker, more efficient and smoother. You should take advantage of this help tool as well.

Other ideas to help you afford your first home include:

The more you learn about the different types of help available, the more you will see that it is possible to purchase your own home.

Help from the Government

Recently the government announced its plan to help first time buyers get into the property market. This means there are even more opportunities available and if you are a first time buyer, you should look into all of these options that might be available to you.

These new measures include £1,500 grants to help qualifying buyers with costs such as solicitors’ charges and furniture, as well as a part-buy scheme offered to key workers and certain first-time buyers. This is all part of a government effort to encourage and assist first time home buyers. You can find out if you qualify before you give up on being able to purchase your first home. Social tenants, key workers and first time buyers can all qualify for the government help.

So far the government said more than £3m has been allocated for the grants – enough for 2,000 people. These grants will be offered to buyers who participate in the government’s Open Market Homebuy Scheme (OMHB). This program helps buyers take out a mortgage for a percentage of their home and then another separate loan, called a shared equity loan, from the government and lenders to pay for the balance. This program helps first time buyers who might not otherwise be able to purchase a home.