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Property auctions often sell unusual properties. In 2016, a World War One sea fort was sold for £500,000, but for that price, it needed a lot spending on renovation. A village hall in Terrington St Clement, Norfolk was converted into an indoor skate park and offered for sale to (more…)
The British parliament has been looking at allowing the use of cannabis oil for medical purposes. In Canada, Bill C-45 was recently given Royal Assent, which means that cannabis producers and retailers can be licenced to legally sell cannabis for recreational use. One of the leading businesses involved in (more…)
A business model used by many buy to let landlords is to purchase rundown property at low prices in property auctions, then refurbishing for rental with a short a turnarounds as possible.
Because of stricter affordability rules, some larger landlords are finding it more difficult to (more…)
Most bridging finance lenders are reliant on brokers for their business. Many borrowers who need a bridging loan use a broker. This is partly because most deals that require a bridging loan have tight deadlines. A broker can quickly find a bridging lender and make sure that (more…)
At a London dinner on 7th June 2018, over 600 members of bridging, commercial, development and alternative finance lenders came together to celebrate the success of the sector. The occasion was the Bridging and Commercial Awards 2018.
The reason to celebrate was because figures from the Association of Short Term Lenders (ASTL) revealed that short term lending is worth (more…)
In some areas, there are more people looking to purchase a home than properties for sale. It can be time consuming to buy a home and this makes purchasing a home difficult for busy people, more so if they live outside the area. A buying agent finds a suitable home for homebuyers.
A buyer’s agent is like an estate agent that works for (more…)
The first step to applying for a bridging loan is usually to talk to a broker. Their job is to assess the loan application and then get an initial approval from a lender. Many borrowers are looking for a speedy bridging loan. It can happen that after the initial yes decision the lender turns it down. The borrower sees this as a waste of (more…)
Property auctions are attracting many types of buyers because the image of auctions has changed.
In the past property auctions mainly sold properties in poor condition at cheap prices. These properties still appear in auctions, but many buildings for sale are in (more…)
Property auctions are moving away from traditional auctions held in a room, to online auctions. The result is that commercial and residential property available for sale can reach a worldwide audience. This makes them popular with sellers as they can access a wider range of potential buyers.
The founder of online auction house LetsBid, Milton Rodosthenous, said that: (more…)
The financial crisis of 2008 has made banks wary about property lending. EU regulations have put limits on the level of risk that banks can have on their lending books. Property investors are increasingly turning to alternative banks for cash. Bridging loans are a way for investors to finance property deals quickly to see a return on their investments.
Large banks still provide bridging loans but are reluctant to give loans for (more…)
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