PROPERTY NEWS

Buy to Let Market Shows Signs of Recovery.. at last!
There are encouraging signs that the buy-to-let market is beginning to find its feet, after the decline in new lending slowed in the second quarter of the year.
Latest figures from the Council of Mortgage Lenders showed 21,600 new buy-to-let loans were advanced in the three months to the end of June, just 4% down on the 22,400 reported in the first quarter.
Meanwhile, the number of buy-to-let mortgaged properties in arrears fell 17 per cent on the previous quarter. The number taken into possession remained unchanged.
The news will be welcomed by tenants who are at risk of being evicted at short notice from the property they are renting because their landlord has defaulted on mortgage repayments.
Read more here


Letting Agents WANTED!
There are a growing number of tenants and landlords who are dissatisfied with the services provided by Letting Agents.
On Monday evening, I had a conversation with a Letting Agent who regaled me with the sorry tale of two tenants who appeared at her office that morning, full of woes about the property they were renting... house full of dampness with mould growing everywhere... no EPC... no Gas Safety Cert...no Repairing Standard Letter an obnoxious landlord to deal with who paid no attention to their requests for urgent repairs and their current Letting Agents were being dismissive, so they were looking to move.
This particular couple are unemployed and relying on DSS for their rent but had paid a month's rent in advance, and seem like decent people. Getting nowhere with the Letting Agent (who are certainly not living in THIS century), they were shocked to learn what the landlord's responsibilities were and that he, and the agents, were clearly flouting the law!

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My youngest son Nash is getting ready to start his second year at University in Edinburgh and has been searching for accommodation with two of his friends.
I contacted a very well-known Letting Agency in Edinburgh about one particular property and noted that it took 3 days for the Property Manager to get back to me.
After several phone calls to the office, I managed to speak to the person who looked after the property Nash was interested in.
I was pleased when she confirmed that the landlord accepted students but disappointed to learn that he did not have an HMO licence - it was a 3 bed property!
Fortunately, my son has now found the perfect property but the Lease Agreement is flawed with no Repairing Standard Letter attached.
The whole arrangement with the landlord seems very loose and I am keeping a close eye on how things progress.

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QUESTION... Do you have a great letting agent who takes care of your investment portfolio?...if you are getting good service from either a private individual or an established Letting Agent, then why notrecommend them to others.
We are all very quick to complain, but rather than be inundated with a barrage of negative comments, why not simply promote the person or company who provides a good service for a change.
I will be happy to post your recommendations here.
email: clare@richbrits.co.uk

WEALTH AWARENESS EVENT - Monday 7th September 7-9pm

Next month's event will take place on Monday 7th September, when we will be joined by Motivational Speaker, Andy Fergusion
www.t9rcoach.com and Bloodline Planning Experts Chris Smith and Michael McCready www.countrywidegroupni.co.uk

Please send an email to clare@richbrits.co.uk ,lorraine@richbrits.co.uk or laura@richbrits.co.uk to book your ticket.

ENTRY FEE: £10 - Refreshments served on arrival

Click here for a MAP and directions to the event

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Scottish Association of Landlords

Extra Portable Appliance Testing (PAT) training date announced.

Further to the huge response this week from members booking the new PAT training courses, SAL have added another Glasgow date for this training as below. The first two Edinburgh and Glasgow courses are now fully booked. There are still a few spaces left on the 11th November in Edinburgh and the 10th November in Glasgow.

For those who are further away from Edinburgh and Glasgow – please let SAL know if you are interested in this training locally. They will look into other areas if there is enough demand.

To deliver the courses SAL have engaged specialist trainer Neil Turnbull from PAT Training Services Ltd. The courses will run in both Glasgow and Edinburgh from 9.30am to 5.00pm on the dates listed below:

10th November 2009 - Ramada Glasgow City, 201 Ingram Street, G1 1DQ - SPACES AVAILABLE

11th November 2009 - the Conference Room, SAL, 16 Forth Street, Edinburgh EH1 3LH – SPACES
AVAILABLE

Further dates will be added until everyone interested in this training has a chance to attend. To help gauge demand and plan dates - please do let SAL know on info@scottishlandlords.com if you would like to attend these courses but cannot make the dates above for any reason.

Attending the one day course will give members the required knowledge to carry out their own PAT testing and, depending on the number of properties you have, for some this could mean an opportunity to make considerable cost savings. Please do bear in mind when costing this for your own business that you would still need to either buy (approx £300) or hire (approx £60 per week) a PAT testing machine to carry out the tests on your appliances.

This course is designed for landlords, letting agents, hotel and B&B owners. SAL members attend at the cost price of £150 per person. The arrangement we have negotiated with PAT Training Services represents a discount for SAL members of £95 off the normal price of the course which is £245.

The £150 fee includes refreshments and sandwich lunch plus course notes and a Code of Practice worth £35. On successful completion of the course you will also receive a certificate from the trainer.

Limited places - please do email: info@scottishlandlords.com if you need any more information or you can book online now with this link www.scottishlandlords.com/courses.aspx

More information about the course can be seen on the PAT Training Services website here - but bookings for these dates can only be made via SAL. NB The courses will run subject to demand (as we must cover the cost of the trainer on each date)

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Feedback from the August event!! VIDEO TESTIMONIALS

Our desire is to inspire you to become Financially Independent. "When your income from what you own exceeds your expenses... ...you no longer need to work for a living and you could retire." We will empower you to take your first steps towards Financial Freedom TICN in association with Richbrits invite you to a FREE Money Talks Presentation Friday 28th August 6-7pm Zero Cost Trades - Learn how to trade the market successfully and profitably. Explanation and Demonstration byOwen O'Malley Location: Marriott Hotel, Glasgow Rd, Edinburgh please ring Clare on 07803 135 693 Cost: FREE!!!!!!

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Please feel free to Forward this email to a friend. If you know anyone who would like to be added to our database please send an email to laura@richbrits.co.uk

British entrepreneur aims to crack 400mph barrier (and raise $1 BILLION in the process) Ron G Holland is aiming to shatter the motorbike land speed world record, which stands at 360mph, on his 30-foot cigar-shaped V8 super bike at Bonneville Salt Flats in Utah, USA. He'll make his attempt sometime in 2010. The sixty-year-old author and entrepreneur says riding at half the speed of sound holds no fear compared to the prospect of his wife Elisabeth rumbling how much he's spent on his land speed bid. Read more here

Patrick Henry Hughes - Inspirational Story

What an in incredible story and what an amazing father this young man has... this is so humbling!

http://www.youtube.com/watch?v=-qTiYA1WiY8

Monday 3rd August

Born in Limerick in 1970, Pat grew up in the city’s north side in Moyross, known as one of Limericks toughest neighbourhoods, where opportunities are few and far between. Leaving school at 14 years old he went to work in the hotel industry, at 15 he moved on and began working in the security industry from where he built one of Irelands largest companies in this field. Pat went on to mentor referral and business groups through the country. Name: Email: Pat is, nationally, a known lecturer and consultant in personal and business development; he has worked with government agencies, colleges, companies and non-profit organisations in the areas of training, counselling, mentoring, motivation and communication. He is a frequent communicator on radio, business magazines and other media sources, he has conducted seminars and workshops on various aspects of personal and business development which have been attended by thousands of people throughout Ireland and the UK

PROPERTY NEWS Bank of China starts to offer mortgages in the UK Bank of China has begun offering mortgages to British borrowers, who are finding it difficult to get loans from leading UK lenders. The world’s third-largest bank is lending at lower rates than many of the deals available from more established UK lenders. It has previously focused on lending to the Chinese community within the UK. With rates from 2.5 per cent over base, it is targeting homeowners and buy-to-let landlords who are struggling to get credit. It is marketing deals via four brokers, including Savills and Legal & General Mortgage Club. Bank of China’s approach will differ in several ways from its British peers. It will insist in meeting each borrower face-to-face before deciding to offer a loan, and will fund them from its own capital reserves, a more conservative approach than that of many UK lenders in the years of the housing boom. Although home loans jumped 17 per cent in June, with gross mortgage lending at a six-month high of £12.3 billion, from May’s £10.5 billion, the CML says it is 48 per cent down on June 2008. Read more...

RICHBRITS UPDATE - Tuesday 21st July, 09

RICHBRITS UPDATE - Tuesday 21st July, 09

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UPCOMING EVENTS... A number of events are taking place over the next few weeks. If you are looking for inspiration or tips on how to move your life or your business forward, then get yourself along to one of these events. Type: Public Event - Money Matters "We Will Demistify The Stock Market For You" When: Thursday, 23 July 2009 - 6:30pm to 7:30pm Where: 207 Providence Square Millstreet, London, SE1 2EW Map Organizer: Owen O'Malley Ticket Price: FREE Click here to register ---------------------------------------------------------------------------------------------- Want to become Your Own Best Publicist and build instant rapport and credibility and discover how to get enthusiastic applause and even a standing ovation every time you speak and leave audiences speechless? Here’s why you should jump at the opportunity! ***Save €500 by Acting Now!*** Type: One Day Workshop ’66 Secrets ‘Performance’ Explosion One Day Workshop’ When: Saturday, August 1st - 9am to 5pm Where: D4 Hotel Ballsbridge Dublin 4 (formerly Jury’s) Map Organizer: Marie O’Riordan Ticket Price: Just €497 (inc VAT) if booked and paid in full by July 31st. Normal price €997 (inc VAT). Register here... Price on the day and from August 1st: €997 (inc VAT) If you’re in a hurry to find out what I’m talking about then go ahead and call Marie O'Riordan right now on +353 86 8119066 and in just one comprehensive day you can avoid the cash burning, time wasting, energy draining mistakes costing you and people in business serious amounts of money in lost turnover and lost profits and lost personal cash! ---------------------------------------------------------------------------------------------- Type: Public Event When: Saturday, August 8th - 9am to 4pm Where: The Crowne Plaza Hotel, NEC, Birmingham Map Organizer: Neil Hewitt Ticket Price: Just £95 Featuring an all British Cast describing in detail how they have come through at least one recession and how it was their mindset that got them through it. They will be sharing their story with you, together with a "call for action" to ensure you come through this current economic "crisis" in the best posible state! RichBrits Founder, Clare Darwish opens the event with her keynote address – “From Welfare to Millionaire”. The heartfelt story of this one-woman crusade to financial freedom is sure to inspire you. Listen as Clare shares her whole story for the very FIRST time. Ron G Holland “The Billionaire Biker” introduces ideas from his latest book “The Eureka! Enigma, Seven keys to realising your dreams” which is being billed as the next step to The Secret! Andy Ferguson will be closing the event with an invigorating talk on “Passion, Purpose and Process” and a call for everyone to take action, find their true purpose and put in place the process that will take them to their true destiny. For more information and reservations go to: www.winningwaystowealth.co.uk …and ensure your seat at this unique event where you really will learn from the Masters! ---------------------------------------------------------------------------------------------- Type: Workshop – Property Basics When: Sunday 2nd August – 10am – 12noon Where: The Elphinstone Hotel, High Street, Biggar Map Organizer: Clare Darwish Ticket Price: £49 pp - £80 per couple (saving of £18) BOOK NOW... Refreshments served on arrival In this programme you will learn : • Where do I start? The basic steps required to become a 'successful' property investor. • How to identify and clarify a strategy that suits YOUR needs. • The downside to property investing (yes there’s always a down side!) • Confronting your fears around property investing and setting your goals • Maximising 'cashflow' and releasing equity In the current climate, the biggest obstacle is raising funds...agreed? Learn negotiation techniques that will have lenders queuing up to fund YOUR deals! ----------------------------------------------------------------------------------------------

PROPERTY NEWS RICS publishes new valuation guidance The RICS has published new guidance on valuing property in the prevailing market. The new guidance recognises that there may be a need for valuers to provide advice on the outlook for a property’s value as well as establishing its current market value. A copy of the full valuation information alert “Guidance to Lenders and Valuers when conducting Loan Security Reviews” can be found on the RICS website accessible here. Planning Circular 12/96 Review: Planning Agreements The Scottish Property Federation has now submitted comments to the Scottish Government on the consultation issued on Planning Circular 12/96 Review: Planning Agreements. The comments are contained in a SPF Policy Statement which is available on its website accessible here. Review of fees for planning applications The Scottish Government is looking into the existing methodology employed to calculate planning fee increases to establish if this methodology remains appropriate. Details of the enquiry can be found on the Scottish Government’s website accessible here.

Don't break the elastic!

In April, Maya Angelou was interviewed by Oprah on her 70+ birthday.. Oprah asked her what she thought of growing older.

And, there on television, she said it was 'exciting.'

Regarding body changes, she said there were many, occurring every day...like her breasts. They seem to be in a race to see which will reach her waist, first.

The audience laughed so hard they cried. She is such a simple and honest woman, with so much wisdom in her words!

Maya Angelou said this:

'I've learned that no matter what happens, or how bad it seems today, life does go on, and it will be better tomorrow.'

'I've learned that you can tell a lot about a person by the way he/she handles these three things: a rainy day, lost luggage, and tangled Christmas tree lights.'

'I've learned that regardless of your relationship with your parents, you'll miss them when they're gone from your life.'

'I've learned that making a 'living' is not the same thing as 'making a life'

'I've learned that life sometimes gives you a second chance.'

'I've learned that you shouldn't go through life with a catcher's mitt on both hands; you need to be able to throw some things back..'

'I've learned that whenever I decide something with an open heart, I usually make the right decision.'

'I've learned that even when I have pains, I don't have to be one.'

'I've learned that every day you should reach out and touch someone. People love a warm hug, or just a friendly pat on the back.'

'I've learned that I still have a lot to learn.'

'I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.'

1,343 new council homes

Council homes across Scotland

More than 1,343 new council homes will be built in Scotland this year backed by £26 million from the Scottish Government.

Seventeen councils across Scotland will share the money to create a new generation of council houses for rent as part of the largest council house building programme for 30 years and is expected to support 3,000 jobs.

Details can be accessed on the Scottish Government’s website accessible here

(This will go a long way towards the 3,000,000 new homes actually needed in the UK right now! Gordon's target to fill this quota by 2020 is a long way off which creates a huge opportunity for the Private Rented Sector...if you can find the dosh to buy up all the empty houses scattered about!)

RICHBRITS UPDATE - Sunday 5th July, 09

Last Chance to book online... The Richbrits Networking Event is happening tomorrow Monday 6th July... so purchase your tickets TODAY! 6th July 2009 start time 19:00 to 21:00 MARRIOTT HOTEL, GLASGOW ROAD, EDINBURGH (just off the bypass) Paypal link If you are unable to use paypal, you can of course pay at the door. However, please confirm your attendance prior to the event, to help us with catering and seating arrangements. Contact Laura or myself to reserve your place laura@richbrits.co.uk

SUNDAY MORNING HUMOUR... It is the month of July; a seaside town sits and looks out over the North Sea. It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody lives on credit. Suddenly, a rich tourist comes to town. He enters the only hotel, lays a £100 note on the reception counter, and goes to inspect the rooms upstairs in order to pick one. The hotel proprietor takes the £100 note and runs to pay his debt to the butcher. The Butcher takes the £100 note and runs to pay his debt to his pig farmer. The pig farmer takes the £100 note and runs to pay his debt to the supplier of his feed and fuel. The supplier of feed and fuel takes the £100 note and runs to pay his debt to the town's prostitute who, in these hard times, gave her "services" on credit. The prostitute runs to the hotel and pays off her debt with the £100 note to the hotel proprietor, for the rooms that she rented when she brought her clients there. The hotel proprietor then lays the £100 note back on the counter so that the rich tourist will not suspect anything. At that moment, the rich tourist comes down after inspecting the rooms, and takes his £100 note, after saying that he did not like any of the rooms, and leaves town. No one earned anything. However, the whole town is now without debt, and looks to the future with a lot of optimism. And that, ladies and gentlemen, is how the British Government is doing business today.

Buy-to-let landlords have been hard hit by the property crash, along with private homeowners. But one small silver lining in the generally gloomy outlook is that, with property prices coming down faster than rental values, yields are actually rising for many purchasers of rental property.

With the help of PropertyEarth.net, Times Money has compiled a list of the ten towns or boroughs with the highest yields for buy-to-let investors.They are spread right aross the country, from Scotland to Shropshire and from Newcastle to Neath, in Wales.

1. Glasgow

Average Yield: 12 per cent.

Typical property: A one bedroom first floor flat in Rutherglen, Glasgow. Price: £32,000. Monthly Rental: £350.

2. Houghton Le Spring, Tyne and Wear

Average Yield: 10 per cent

Typical property. A two bedroom terraced house five minutes walk from the town centre. Price: £46,500. Monthly Rental: £400.

3. Telford, Shropshire

Average Yield: 10 per cent

Typical property: A one bedroom first floor apartment flat Price: £59,950. Monthly Rental: £500

4. London Borough of Lewisham

Average Yield: 8 per cent

Typical property: A one bedroom first floor flat in Lee. Price: £95,000. Monthly Rental: £675

5. MIddleton, Manchester

Average Yield: 8 per cent

Typical Property: A two bedroom middle terraced house in a suburb of Manchester. Price: £64,950. Monthly Rental: £450

6. Barnsley, South Yorkshire

Average Yield: 8 per cent

Typical Property: A three bedroom semi-detached house in the Darton district of Barnsley. Price: £65,000. Monthly Rental: £450

7. London Borough of Newham

Average yield: 8 per cent

Typical Property: A one bedroom flat in East Ham. Price: £104,500. Monthly rental: £700.

8. Burnley, Lancashire

Average Yield: 7 per cent

Typical Property: A three bedroom terraced house in the east Lancashire town of Burnley. Price: £79,500. Monthly Rental: £525

9. Neath, Wales

Average Yield: 7 per cent

Typical Property: A two bedroom semi-detached house in the Neath Abbey part of the town. Price: £69,950. Monthly Rental: £450

10. Newcastle

Average Yield: 7 per cent

Typical Property: A three bedroom semi-cetached house in the Throckley district. Price: £69,950. Monthly Rental: £450

You can find out more information by going to PropertyEarth.net. Pictured: A semi-detached home in Neath, Wales.

What about other Scottish areas... I've seen a few in Lanarkshire recently at 12% or is Glasgow representative of the whole of Scotland?? I'm sure that if you buy in Craigneuk, Wishaw or Forgewood, Motherwell you can still 'Buy One Get One Free'!!

Richbrits Networking Event

RICHBRITS NEWSLETTER UPDATE...

The Richbrits Networking Event is happening on Monday 6th July... so purchase your tickets TODAY! 6th July 2009 start time 19:00 to 21:00 MARRIOTT HOTEL, GLASGOW ROAD, EDINBURGH (just off the bypass) Paypal link (If you have difficulty with paypal then please contact) laura@richbrits.co.uk

Protecting your assets against attack

Many companies when considering Estate Planning Strategies for clients concentrate solely on the effects of Inheritance Tax on the estate of the deceased. Although very important, this is not the only concern that most clients have.

When giving estate planning advice, Countrywide Legal Services Ltd can offer strategies that consider all of the following threats on the deceased’s estate:

1. BloodLine planning i.e. ensuring the deceased assets are not threatened by the following:

• Remarriage of the survivor
• Divorce / Separation within the beneficiaries normally the children
• Bankruptcy of the beneficiaries

2. The effect on the deceased assets if the survivor enters Long Term Care.

3. Protecting assets if the beneficiaries are disabled.

4. Minimising the effects of Inheritance Tax

Inheritance Tax has been described as a 'voluntary levy' - as the late Lord Jenkins once said,

“It is paid by those who distrust their heirs more than they dislike the Inland Revenue.”

Consider no Trust Planning in place, and the potential Inheritance Tax through the family generations...

Assume an estate value of £800,000 for a married couple and no Inheritance Tax planning has taken place for them or their bloodline. After Inheritance Tax paid of £60,000 the children will receive £740,000 from their parents.

If we assume the children already own assets in their own name at, or above the current Inheritance Tax Nil Rate Band then when they pass away the Inheritance Tax payable on the estate left to their children will be 40% of £740,000 i.e. a further £296,000 Inheritance Tax would become due.

The value of the original grandparent’s estate reaching the grandchildren will be £444,000.

In two generations the estate from grandparents has decreased from £800,000 to £444,000. £356,000 has been lost to the Inland Revenue in Inheritance Tax payments.

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Michael McCready and Chris Smith of Countrywide Legal Services will be in Edinburgh tomorrow afternoon (2nd July). If you would like to find out how to protect your assets, drop me an email or pop along to The Marriott Hotel, Glasgow Road, Edinburgh around lunchtime, and I will introduce you to Michael and Chris.

After all the hard work and effort that goes into acquiring assets through property investment, stock market trading, savings etc., you owe it to yourself and your family to PROTECT those assets and mitigate your tax burden efficiently.