Wednesday, October 26, 2005

Rent to Buy

A number of our clients have said to me that they really want to buy a retirement property in Spain but are having problems selling their homes in the UK so they are unable to move.
Following on from my last post, a slow market is a great time to buy as some good deals are available - but what do you do if you can't sell your property in the UK?
I have said to clients that are looking to move to Spain, why not rent out your UK property and use the rental income to pay for a mortgage in Spain. The rental demand is always good in a slow market and when prices start to rise again it will be easier to sell and probably you will get a higher price for home in the UK. You can get a good deal on a property in Spain and Spanish mortgages are available for 3% interest or less.
Rent to Buy is a great option in a slow market, it can help you move when you think you are stuck and can even make you some extra cash.

Wednesday, October 12, 2005

Property Bargains Available Now

The property prices in Spain and the UK was reported rising at the slowest rate for a number of years. The average UK property price increased by just £1 between July and August to £186,208. First time buyers in the UK are continuing to wait and the average price paid by UK first time buyers was £153,285 in August up just 0.1% on July.

With a cut in interest rates planned for early next year the market is likely to take an up turn early next year. Once first time buyers start to buy again in the UK prices will start to rise again and the Spanish Market will follow.

Between now and the end of the year will be a great time to buy. Because things have been slow this year there are plenty of people who have had their properties on the market for nearly a year. Some of these people will be desperate to sell and be willing to take a below market price offer.

So, find yourself a desperate seller, make a cut down offer and pick yourself up bargain.