Ray Boulger from mortgage broker John Charcol thinks rates have hit their low point.
Certainly in the last couple of weeks, the interbank lending rates in the US have increased by a large percentage, although as its on a small number it doesn’t appear significant. This could well be the start of a climb for interest rates returning to their average (approx 7% in the UK). This is a worry. Too many people (including investors) are unprepared for higher interest rates.


Good article explaining some of the problems that landlords are faced with when faced with non-paying tenants. The Council being a major cause of problems because they encourage tenants to remain in the property until the bailiffs arrive. Good for their homelessness statistics, bad for the tenant (they are breaking the law) and dreadful for the Landlord who is losing a lot of money.


Excellent news. Another Landlord, this time in the town of my birth, Manchester, has been fined more than £3k for repeatedly ignoring requests to complying with the law and get a HMO licence

Whilst its a pathetically low fine given the number of properties and profit he will have made, and the council have been disgracefully slow in getting to court, at least they got there, got a result & the publicity may deter some other rogues.

The article just focuses on the financial aspect, as does the Landlord. This is so wrong. He is running HMOs for 30 students. It’s 30 peoples lives at risk of fire if he hasn’t installed the correct equipment & fire protection! If he can’t afford to pay £300 licence fees (as he claims) then he is cutting corners elsewhere. In the meantime how long will it be before he complies?


It scares me to think parents are inadvertently putting their kid’s lives at risk with these landlords & it should scare the parents too. They need to know what to look for.

My book is on its way. Got to sort out publishing.

Its worth reading this article on the BBC’s website.


Its a field in which I work, so its very relevant. I know there are a lot of “quick sale” businesses out there with very effective marketing that attracts enquirers from all over the country. They don’t even view the properties that they offer to buy, so there is no way that the seller will get a good deal. To take the risk of not viewing somewhere and understanding its true condition can only mean that a very fat margin is built in.

Unfortunately there appear to be many desperate sellers out there who are so fed up that they just want to get rid of the property at virtually any price. Its very sad.

Some of the tactics that are highlighted in the article, like gazundering (lowering the offer price just as exchange is about to take place) are deplorable, and I hope that companies that have used this tactic can somehow be taken to court so that the differential can be reclaimed.

A quick lesson here; keep all your paperwork, whether you are a buyer or a seller. The OFT are certain to try looking into these and other “creative” deals to ensure fairness. Government interference from bureaucratic meddlers invariably results in a blanket-ban (eg Sale and Rent Back), which means that many people no longer benefit because of a very small minority of problems, but there are times when there has to be a structure that protects people from rogues.

Certainly, any company that states that they can complete a property transaction in 7 days is pushing the boundaries of reality. Dont trust them. It CAN be done, but more likely it will take 4 weeks, although this is still quicker than normal conveyances.

What these “quick sale” companies should be doing is offering a profit share if the property is sold above a certain price. Its fair for the seller, it will still enable them to get the rapid sale that they need so they can get on with their life, and there will still be sufficient profit in the deal for the buyer.

I need to emphasise at this point that profit sharing is one of the “creative” deals that I offer.

This isnt a sensationalist article, and I dont agree with everything in it.

As a broad statement, my opinion of economists is very low. They are usually wrong. They seem to me to be make numerical projections based upon historical data, and after-the-event justifications. This should involve an understanding of markets, human nature & psychology. They are clearly lacking in these skills, so I usually ignore those who are quoted in the media.

The reason for posting it is because the article has been written by the Peterson Institute for International Economics and they are a “private, nonprofit, nonpartisan research institution”, and I feel it creates some balance that people should consider before they dive blindly into property investing, as they are offering a contrarian opinion to the mainstream. Balance improves our decision-making.

Give it a read.


ps apparently the article which was authored by Adam Posen (who is President of the Petersen Institute) is also in the FT