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Monthly Archives: October 2015

Rent A Room For £1 Per Month

Apparently, someone is offering to rent out a room in a property in the East End of London for only £1 per month and, so far, over 1,000 enquiries have been received by this particular landlord. That does seem to be an incredible offer but there are some conditions such as the tenant must have certain IT skills, have a UK driving license and work part-time for the landlord without being paid a salary. The landlord requires a web developer to do some IT work for him. It is estimated that a room in such a property could be let out for more than £600 per month. The tenant will have a double room with brand new furnishings and be able to use the garden. He or she will also have access to the Internet. This sort of arrangement is popular in certain other European countries and is believed to be growing in popularity between a number of landlords and tenants in the UK. Following the above arrangement being publicized so much it could lead to an increase in such lettings. For instance, there are no doubt a number of elderly people who own large properties who would welcome some…

The Importance Of Arranging Your Own Survey

If you are considering becoming a landlord and buying your first investment property to let out or are already in the business and looking to purchase another property then you may require a buy-to-let mortgage towards funding the purchase. If this is the case then the lender will require a valuation report carried out on their behalf to establish the property’s value. It is worth remembering that the valuation report is being carried out for the benefit of the lender – not for the landlord. Therefore, it should not be relied upon by a landlord who should seriously consider having a more detailed survey carried out on the property. A valuation report for mortgage purposes is focusing on establishing how much the property is worth so, if the lender had to repossess the property because the landlord was unable to maintain the monthly mortgage repayments, that there would be sufficient monies available from the sale of the investment property to liquidate the borrowing. Yes, the report may highlight certain works that may need doing to the property but it is no where near as detailed a report as you would get with the likes of a full structural survey. The…

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