Pimlico Flats & Houses For Sale & Rent

UK House Prices Summary for 2011

noreply@blogger.com (London Estate Agents) — Fri, 13 Jan 2012 13:19:00 +0000

A slight drop in house prices in December of 0.9 per cent took the overall drop across 2011 to 1.3 per cent, according to data from Halifax.

The bank's property index suggested that the housing market had remained surprisingly resilient in the past year and hinted at a broadly stable 2012 ahead.

The average house price at the end of 2011 stood at £160,063.

"If the UK can avoid recession, we expect broad stability in house prices in 2012," said Halifax housing economist Martin Ellis.

"There is, however, considerable uncertainty regarding the prospects for the UK economy, which will, to a large extent, depend on how events in the eurozone unfold."

While Halifax's data shows a drop in house prices across 2011 a similar report from Nationwide suggested they had increased by one per cent, highlighting just how resilient the market was in the past 12 months.

Nationwide placed the average house price at the end of 2011 at £165,798.

London Property News

London Buy to Let Lettings News

noreply@blogger.com (London Estate Agents) — Tue, 27 Dec 2011 10:15:00 +0000

Figures released today by the Council of Mortgage Lenders (CML) show that the buy to let market is still strong.According to the body, mortgage loans to landlords increased by 16 per cent in the third quarter of this year.

Over the same three-month period, the amount of money loaned by financial institutions for property investment rose by 19 per cent, showing that banks and building societies are regaining their confidence in the buy to let sector.

A total of 34,500 buy to let mortgage advances were made in the quarter totalling an incredible £3.2 billion. It is the highest buy to let lending as stood since the onset of the credit crunch in 2008.

CML director general, Paul Smee, stated: "With tenant demand remaining strong in the rental sector, some existing buy-to-let landlords have been expanding their portfolios and the growth that returned to the sector in the preceding quarter has continued.”

Mark Durban, senior lettings agent at Paramount, said recently that at present the demand for rental property is so high that it exceeds the number of homes available.

Buy to Let Investment News

Mortgage Rate & Home Loan News: Mortgage market is still strong says John Charcol

noreply@blogger.com (London Estate Agents) — Thu, 15 Dec 2011 14:21:00 +0000

It’s not all doom and gloomy in the mortgage market says leading broker John Charcol.

The mortgage advisory firm says that despite media reports of a subdued market place, purchase business for residential property and buy to lets is actually performing quite well and there is a glut of suitable products available.

Simon Collins, product and technical manager at John Charcol, said that it saw a ten per cent increase in the amount of mortgages agreed during October compared with the same month in 2010.

“Despite the approaching festive season, we have seen the number of good quality purchase enquiries hold up very well, so whilst the market’s not great, it’s not as bad as it’s being painted,” he stated.

Last week, the latest Mortgage Monitor from chartered surveyors e.surv found that mortgage approvals for property purchases during November reached its highest number since December 2009 and were up some 15 per cent on November 2010.

Mortgage Rate and Home Loan News

More Buy to Let Landlords Using Bridging Loans

noreply@blogger.com (London Estate Agents) — Tue, 29 Nov 2011 08:35:00 +0000

Gross lending in bridging finance is set to reach £800m for the first time this year, driven by a big increase in landlords who cannot raise money on the high street reports the RLA.

According to new projections provided by bridging lender West One Loans, the bridging industry has expanded rapidly to fill the gap left by traditional lenders.

The volume of loans advanced has risen 26% year on year as an increasing number of residential property investors have turned to the sector to finance their projects.

In 2009, 70% of loans were granted to the residential sector. Last year, this had risen to more than three-quarters. So far in 2011, 82% of all bridging loans by volume are to residential property investors.

The average loan term now stands at just under eight months, and the average LTV now is 48.4%, up from 42.5% a year ago.

Duncan Kreeger of West One said: “Having a clear exit strategy is the most important consideration when taking out bridging finance. The strong demand for accommodation means investors can be confident they can refinance easily when they are ready to rent.”

Landlords and Tenants Relationships in Private Residential Renting Sector

noreply@blogger.com (London Estate Agents) — Wed, 16 Nov 2011 09:58:00 +0000

As an increasing number of people turn to the private rented sector in search of accommodation, landlords are finding themselves under ever more scrutiny. While bad landlord practices make it into the press more often than good, that does not mean to say that the majority of the industry is less than scrupulous, far from it in fact. Spokesman for the Tenancy Deposit Scheme Malcolm Harrison stressed that there are "a small number of bad eggs", both among landlords and tenants.

He noted there are certain things property owners and renters can do to help ensure a tenancy runs smoothly.Making sure there is a good inventory, that any deposit is properly protected and that the terms of the lease -and monthly rent - are clear are just some of the steps that should be taken, he advised. "It is not rocket science, but you do need to pay attention to detail so things don't just slip through," Mr Harrison added. His comments are echoed by advice provided by the National Landlords Association (NLA).

The organisation has outlined some examples of good practice that those renting out homes would do well to follow. In addition to the suggestions made by Mr Harrison, landlords should also ensure that an official assured shorthold tenancy agreement is drawn up and signed by all parties, as well as providing a gas safety record for the premises and its appliances. It can also be helpful to send tenants a copy of the property's energy performance certificate, as this may be of use when they are budgeting for their utility bills.

Another recommendation from the NLA is to keep in regular contact with tenants throughout the time they are renting a property, as this makes it much easier for them to get in touch when there is a problem. However, many landlords choose to use the services of a lettings agency, with owners advised to select a firm that is registered with a professional organisation.

Mr Harrison highlighted the Royal Institution of Chartered Surveyors and the Association of Residential Lettings Agents as two such bodies that oversee the industry. Meanwhile, the NLA runs its own accreditation scheme, with the organisation's chairman David Salusbury commenting that it "provides landlords with a clear way of demonstrating that they are professional by understanding their obligations, as well as the extensive legislation governing the letting of private residential property".

However, despite the best efforts of many landlords and national organisations that promote responsible rental practices, there are always some property owners who give the whole sector a bad name. In a bid to clamp down on unscrupulous landlords, Shelter has launched its own campaign - Evict Rogue Landlords. The charity hopes to draw attention to persistent offenders and wants to see more people prosecuted for the mistreatment of tenants.

Among the practices that Shelter is trying to stamp out are scams where renters are asked to pay more rent each month in place of a deposit, with the promise that this extra money will be returned provided there is no damage to the property at the end of the tenancy and landlords demanding extra money for things such as a tenancy inspection, which renters are not legally obliged to pay.

One of the most common worries for tenants is how their deposit is looked after - in the UK it is now a legal requirement that all such funds are placed in a registered scheme specifically for this purpose. Mr Harrison explained that one of the main advantages to using a tenancy deposit scheme is that, in the event of a dispute, an impartial person will be able to arbitrate between the two parties and come to an agreement.

Although bad landlords may engage in shady practices, tenants have a responsibility to be aware of their rights and to make sure that any individual or agency they rent a home from complies with the law. Shelter pointed out that if tenants are unaware of their rights and obligations, it makes it much easier for a dishonest landlord to take advantage of them. Understanding the ins and outs of the process of renting a property may prove to be increasingly important, with many experts predicting that the private rented sector in the UK will continue to grow over the coming years.

Overall, it appears that the relationship between landlord and tenant is a strong one in the majority of cases. Figures published by the NLA in August revealed that 61 per cent of landlords described their interactions with their renters as "very good", with a further 34 per cent stating theirs are "good". At the other end of the scale, less than one per cent of those questioned said they had a "poor" relationship with tenants and just three per cent described it as "adequate".

Pimlico Riverside Apartment for Rent

noreply@blogger.com (London Estate Agents) — Tue, 01 Nov 2011 10:25:00 +0000

Grosvenor Road, Pimlico, London, SW1V £1350pw

2 Bedrooms
1 Reception Room
1 Bathroom

A stunning two double bedroom apartment set on the second floor of this prestigious riverside building. This newly refurbished apartment offers a modern fitted open plan kitchen, two double bedrooms with fitted wardrobes and ensuite bathrooms, large terrace with stunning river views over London's most sought after vista, office/study, parking space for one car, furnished to a very high specification, available NOW!

London Riverside Apartment for Rent

Overseas Investors in London Property

noreply@blogger.com (London Estate Agents) — Tue, 25 Oct 2011 11:06:00 +0000

With their own economy continuing to flatline, growing numbers of Greek nationals are opting to put their money into London property investments, it has been reported.

Over the past couple of years, property industry experts have noted a marked rise in the number of cash-rich foreigners snapping up assets in the capital, for example UAE residents purchasing flats and houses for sale in Maida Vale and Belsize Park.

Now, the Evening Standard has revealed that Greeks are the latest group to join in the rush for homes in the city, citing Knight Frank figures that show they have invested a collective £250 million in the residential property sector over the last 12 months alone.

Furthermore, this trend is set to continue as wealthy Greeks look to move their money so as to avoid ongoing efforts to boost the national coffers through higher taxes.

Meanwhile, Australian action man Hugh Jackman has become the latest big-name celebrity to be linked with a new London home after he told the website findaproperty.com that he regrets giving up the property he once owned in Pimlico.

London Property Market News

Pimlico Pub Shortlisted

noreply@blogger.com (London Estate Agents) — Sat, 22 Oct 2011 15:37:00 +0000

The Cask pub, in Charlwood Street, has been named one of the best pubs in London by fancyapint.comwebsite.

The pub was shortlisted in the Visitors' Award category, but just missed out on the top spot which went to the Southampton Arms in Kentish Town.

Judges from the fancyapint.com review team based their decision on pubs they had visited and reviewed over the past 12 months.

They took into account the most popular reviews on the website, the number of visits to pubs arranged through the website and pubs which had received the most positive feedback.

Other categories included best newcomer and most improved.

Paramount Lettings: 2011 International Residential Property Awards

noreply@blogger.com (London Estate Agents) — Thu, 20 Oct 2011 12:33:00 +0000

Leading estate agents from across the length and breadth of the United Kingdom have been notified that they have become shortlisted in the region’s most prestigious property competition in association with Google and Bloomberg Television. Paramount Lettings Limited is delighted to learn that it is one of the finalists that may win a highly commended or five-star award.

The gala awards presentation will take place on October 28th at the London Lancaster hotel near Hyde Park. The event is part of the International Property Awards, which is now in its 17th year and has become recognised as the highest standard of excellence throughout the global industry. Attaining one of these coveted awards is evidence that Paramount Lettings Limited is capable of excelling over some very strong contenders within the highly competitive UK property arena.

Later this year, the highest scoring winners from the UK Property Awards will compete against other winning companies from Asia Pacific, Africa, Arabia, the Americas and Europe to determine the ultimate World’s Best in each category.

The judging panel consists of more than 80 professionals whose collective knowledge of the property industry is unsurpassed by any other property awards. This year’s judges include James Bacon, UK account manager of Google; Peter Bolton King, group chief executive of the National Federation of Property professionals; David Dalby of the Royal Institute of Chartered Surveyors (RICS); and Mike McNamara of the Royal Bank of Scotland (RBS).

Spencer Lawrence, Lettings Director of Paramount Lettings Limited said of the award, “We are very proud to be short listed for this prestigious award; I believe this is testament to our work ethic and our commitment to providing exceptional customer service.”

Pre Let Maintenance and Makeover for Residential Letting

noreply@blogger.com (London Estate Agents) — Wed, 12 Oct 2011 12:26:00 +0000

Pre Sale or End of Tenancy Property Maintenance & Makeovers

Paramount Maintenance Sevices offers a pre sale or end of tenancy maintenance and makeover service with specialists covering all trades. Whether it is your own home or a number of properties you manage, our professional multi-skilled maintenance team can save you time, money and the need to hire a range of different building and maintenance contractors.

As our client, you will receive professional, yet friendly & courteous service. Your perception of our performance is always the reality and we will communicate with you frequently to meet your expectations. We believe first and last impressions count. This means we’ll turn up on time and clean up on the way out.

Follow the link for more information on Paramount's Property Maintenance Services

London Property Market Bucks the UK Trend

noreply@blogger.com (London Estate Agents) — Tue, 27 Sep 2011 16:13:00 +0000

UK Property Investors seeking a potentially lucrative investment might wish to consider residential property in London, after it was revealed to have held its value in difficult circumstances, reports UK Business Property

London Central Portfolio has revealed that prices in the capital have risen in recent months, bucking the nationwide trend of declining values.

Indeed, some spots are particularly well off, with the boroughs of Kensington and Chelsea and the City of Westminster enjoying property price hikes of 26 per cent since February 2009.

"The world's super rich are viewing prime London residential property in much the same way as they do gold and there is limited supply of both," stated Naomi Heaton, chief executive officer at the organisation.

She added that there is significant demand from buyers in Hong Kong, Malaysia, Singapore, the Middle East and India.

Savills recently named London as one of ten worldwide locations that are particularly popular with billionaire property investors.

Refurbished Flat for Rent, Pimlico

noreply@blogger.com (London Estate Agents) — Tue, 13 Sep 2011 12:07:00 +0000

Pimlico Flat For Rent

A beautiful one double bedroom first floor apartment within this prestigious riverside building situated in Pimlico. This newly refurbished property offers a spacious reception room, fully fitted kitchen with all appliances, tiled bathroom with shower and wc, dressing room with ample fitted storage and balcony with views over the River Thames towards Battersea, unfurnished/furnished, available NOW!

Grosvenor Road, Pimlico, London, SW1V

Property Beats Money as Top Inheritance

noreply@blogger.com (London Estate Agents) — Wed, 07 Sep 2011 08:12:00 +0000

Parents living in the capital city appear to want their children to have the option to have London property to rent.

New research by LV= has revealed that property is the asset parents most want to be able to pass on to their children. This was narrowly followed by money.

The survey also found that 25 per cent of people in Britain do not expect to receive any financial inheritance, while 42 per cent are not banking on inheritance to help bolster their financial situation.

John Perks, managing director of Retirement Solutions at the insurance firm, said: "This research highlights a disparity between the number of Brits who are planning to leave some kind of financial asset behind for their family and those who believe there will anything left for them to inherit - this suggests that many may be pleasantly surprised."

However, he warned that it is important for people planning to leave inheritance to seek expert advice on the relevant financial products that can help, while making a will "as early as possible".

London Rental Property News

Buy to Let and Rental Sector Conference Tickets

noreply@blogger.com (London Estate Agents) — Tue, 21 Jun 2011 09:19:00 +0000

Final bookings are now being taken for our forthcoming annual buy-to-let and private rented sector conference, being held at the Earls Court Conference Centre, London, on 22 June.

With first-time buyers struggling to secure a mortgage, demand for rented property continues to grow strongly. So, what are the prospects for the sector? Will there be enough buy-to-let finance to allow landlords to meet the extra demand? And how is the industry responding to government threats to bring buy-to-let lending into the regulated mortgage regime unless the industry does more to help landlords raise standards?

After an introduction by John Heron, managing director of the Paragon Group, who is chairing the conference, delegates will hear an overview of the buy-to-let market from Michael Ball, professor of urban and property economics at the school of real estate and planning at Reading university.

The conference will also have an opportunity to debate whether government concerns about the private rented sector should be addressed by an industry statement of practice for lenders as a marker of good practice and transparency.

Later in the day, the conference will hear a presentation on investment in buy-to-let by Jennet Siebrits, formerly of the CML and now head of residential research at CB Richard Ellis.

A busy conference agenda will also feature sessions covering:

risks to lenders;
bond investors’ views of the buy-to-let market;
opportunities for new lenders; and
intermediary distribution of buy-to-let lending.

Last bookings for the conference are now being taken.

Mortgage Capping With Help for First Time Buyers Proposed

noreply@blogger.com (London Estate Agents) — Sat, 04 Jun 2011 15:11:00 +0000

First time buyers may face an even harder struggle to secure UK mortgage lending if proposals put forward by the Institute for Public Policy Research (IPPR) are implemented.

This is the opinion of Catherine Hearnden, director at Mymortgagedirect, who said plans to cap UK mortgage offers at three and a half times household income are "ridiculous" as every household has different expenditure.

"To some people, three and a half times £80,000 [income] could be £80,000 on one person, and with somebody else it could be £40,000 each. Affordability calculators are the way that you should asses the affordability on a mortgage, not a set limit of three and a half times [income] because some people can afford more," she advised.

Ms Hearnden conceded that the IPPR's suggestion to cap mortgages at 90 per cent loan to value is "not necessarily a bad thing" as long as there are still schemes in place to help first time property buyers.

First Time Property Buyers News

Harry Hill launches online conveyancer

noreply@blogger.com (London Estate Agents) — Fri, 20 May 2011 09:23:00 +0000

Former Countrywide chairman, Harry Hill, has launched an online conveyancing service that pledges to communicate with clients every two days.

Called In-deed, the service will over conveyancing for a fixed fee of £200 per case via a panel of three solicitors based in Stockford, Stoke and Bishop's Stortford respectively.

Hill, who launched Countywide’s conveyancing service, says: “In my experience, people don’t want to ring their lawyer; they want to be kept abreast of developments.”

He adds: “Our market research on customer complaints shows that they were misled on price, and that a lot of prices came along afterwards, and a failure to communicate, which is the main thrust of our service, a well as transparency and openness.”

London Estate Agents First Time Buyer Registrations Rise

noreply@blogger.com (London Estate Agents) — Fri, 06 May 2011 12:34:00 +0000

More people might have been looking for flats and houses for sale in Queen Park, London, and other parts of the country last month, according to research.Figures published by the National Association of Estate Agents highlighted an increase in the number of individuals searching for new homes in March, rising from an average of 268 new registrations per estate agency branch in February to 290 last month.

First time property buyers fell slightly in the same period, with the percentage of sales to such buyers decreasing from a quarter of the market share to 23 per cent.

President of the association Michael Jones commented: "We are very pleased to see that the market has remained relatively stable despite the continued economic pressures that are making life very difficult for homeowners and those looking to enter the property market.

"The significant growth in demand for homes reported by our agents suggests that house-hunters are searching for a good deal on property before the traditional spike in activity over the Easter holidays," he added.

London Estate Agents News

London Flats & Apartments For Rent: London Relocation Property To Let Search Made Easi...

noreply@blogger.com (London Estate Agents) — Tue, 03 May 2011 09:00:00 +0000

London Flats & Apartments For Rent: London Relocation Property To Let Search Made Easi...: "When marketing property, whether it be for sale or rent, most estate agents provide information about the property they are selling should ver more than the number of bedrooms and the dimensions of the kitchen diner. Agents provide photos, a local map, sometimes offer information on schools in the area, transport system, and you will definitely know if the area is ‘much sought after’."

Living in Pimlico; Postcode Guide to Local Services

noreply@blogger.com (London Estate Agents) — Fri, 29 Apr 2011 15:43:00 +0000

When moving into an area there are a number of local services you need to know about. Below you can access local authority information and services; we have chosen the most frequently asked information. Just put in your postcode and find out information on;

Bin Collection, Council Tax, Parking Permits, Recycling centres,Electoral roll registration, School and Term Dates and your local councillor for your new area.

London Property News

Buy to Let Landlords Face Competition from Reluctant Landlords

noreply@blogger.com (London Estate Agents) — Fri, 15 Apr 2011 14:20:00 +0000

Buy-to-let investors are facing increased competition in the rental market from homeowners who are choosing to rent their properties out rather than sell them.

The Association of Rental Lettings Agents (ARLA) produced figures showing that the rented property market experienced an increase in the number of higher value homes becoming available to let at the start of the year as the number of family-sized homes on the market increased amid the uncertain economic conditions gripping the nation.

The average capital value of rental houses shot up by 11.6% from £401,400 to £447,900, according to first quarter figures from the ARLA. The last time the market peaked at such levels in 2007, when the average capital value reached £442,600, there followed a sustained period of decline.

However, the trend is not a national one as the rise was as result of higher value properties going on the rental market in London and the South East. All the other regions experienced an average drop of 5.2%.

The Move Channel

First Time Buyer News: It is 'cheaper to rent' than take out mortgage

noreply@blogger.com (London Estate Agents) — Fri, 01 Apr 2011 15:33:00 +0000

First time property buyers may find it cheaper to rent than take out a loan with low UK mortgage rates.

Lucian Cook, director of residential research at Savills, noted: "For a number of first time buyers, it is still cheaper for them to stay in rented accommodation.
"If you add in job security issues, then clearly there is not going to be a lot of turnover in those lower tiers or lower rungs of the housing ladder," he explained.
Mortgage restrictions are also making it more difficult for first timers to take out home loans.

"If they struggle to raise a deposit - say, they can only put down a ten per cent deposit - then typically where they can get a mortgage, they are paying a much higher interest rate," Mr Cook added.

His comments came after the Council of Mortgage Lenders welcomed measures in the government's Budget to help more people on to the property ladder, but argued these would not kick-start the housing market.

First Time Buyer News

Pimlico Prime Property Values Half of Belgravia Prices

noreply@blogger.com (London Estate Agents) — Thu, 24 Mar 2011 09:04:00 +0000

The Move Channel reports that Pimlico is fast becoming a haven for London buyers seeking centrally located homes for often half the price of those a few minutes away in Belgravia, reports property consultants Cluttons.

With investors and international buyers competing fiercely for the limited property for sale in prime Central London, the increasingly family orientated market in Pimlico is attracting buyers seeking more affordable family homes in the capital with a long term view. They are relaxed about buying as an investment and tend to sell up only when they have children and leave the city.

Houses in Pimlico are selling for approximately £750 - £1,000 per square foot, compared to £2,000 per square foot just a short walk away in sought-after Belgravia, a hotspot for international investors and the ϋber-rich. This equates to around £2.5 million for a good quality family home in Pimlico, compared to £4 - 6 million in Belgravia.

Northern Rock First Time Buyers Mortgage

noreply@blogger.com (London Estate Agents) — Mon, 21 Mar 2011 10:45:00 +0000

First time property buyers could benefit from Northern Rock's 90 per cent loan to value mortgage product, according to Firstrung.

Paul Holmes, chief executive of the website, commented that the bank's announcement could lend a hand to those trying to get on the "fabled" first rung of the property ladder but warned that Northern Rock's UK mortgage lending criteria could be strict.

"The first-time buyer will have to have an impeccable work record, and just as equally, an impeccable credit score. It is only one part of the jigsaw," he explained.

However, coming as it does after the bank's near failure during the credit crunch, the announcement is making headlines.

"Northern Rock aren't doing anything that drastic, it is just that because it is Northern Rock, it has tended to be big news," Mr Holmes added.

The bank is set to lend 90 per cent LTV home loans at a rate of 5.99 per cent for two years with no product fee charge.

First Time Property Buyers News

Bessborough Gardens, Pimlico Town House for Rent

noreply@blogger.com (London Estate Agents) — Sat, 12 Mar 2011 11:16:00 +0000

South London Property for Rent

A three bedroom two bathroom townhouse in this portered development set close to Pimlico and backing the River Thames. Further benefits include access to communal gardens and integral garage, available NOW, unfurnished or part furnished!

Bessborough Gardens, Pimlico, London, SW1V

Apartment for Rent,Grosvenor Road, Pimlico, London, SW1V

noreply@blogger.com (London Estate Agents) — Tue, 08 Mar 2011 11:08:00 +0000

Apartment for Rent in Pimlico Gated Development

A stunning three double bedroom three bathroom second floor apartment within a secure gated development on the banks of the River Thames at Pimlico. The property offers three large bedrooms all with ensuite bathrooms, large fully integrated open plan kitchen, beautiful and spacious reception room, secure gated parking for one car and access to communal riverside area as well as a large private balcony, unfurnished or part furnished, available NOW!

Apartment for Rent Pimlico