sale-and-lease-back guide

Sale-and-lease-back property schemes are 'a disaster waiting to happen' according to Citizens Advice Bureau

We've got people who are vulnerable trying to stay in their home being enticed into an industry that has no controls on it at all at the moment and that is a disaster waiting to happen, says Peter Tutton, of Citizens Advice Bureau


At it's best, it offers a lifeline for people having to leave their homes because they can't keep up with mortgage re-payments.

Operators buy houses below market value and lease the back to owners, who might otherwise face repossession. Giving homeowners a quick sale and the opportunity to stay in their homes while they sort their finances out.

Sale-and-lease-back is important because thousands are facing repossession as the mortgage bills rise beyond their means. The government has mentioned it is a possible short-term solution for those facing eviction.

There are some sharp operators in the market. All too often, excessive rents, long contracts and missleading advice from unscrupulous firms can cause hard-ship.

People are being ripped off. We are seeing people who are getting only 50% or 60% of the value of their homes instead of the 70% to 90% they should be getting, says Adam Sampson of housing charity Shelter

In the current economic climate The Office of Fair Trading wants the FSA to introduce statutory regulation. Until there is proper regulation, it is a case of seller beware.

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UK Fractional Ownership

Fractional Ownership is not timeshare. Fractional ownership is the legal division of the property title or deed into shares. These shares can be purchased and owned by more than one person.

Each person can sell or rent out their time of ownership. The main difference with fractional ownership is that the buyer owns part of the title not simply units of "time".

Fractional ownership / sharing possession of a holiday home, popular in Europe is taking off over here. Some fractional ownership deals operate very simply. You, along with several complete strangers, buy a long, eg 999 year, lease for a percentage of a given property, while the freehold is held by the management company.

Buying a part-share in a holiday home abroad is simple, stress-free and profitable, says Chris Wilson. Just don't call it timeshare.

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Top 5 UK Holiday Destinations

Our Top 5 Holiday Destinations for UK Holidaymakers compiled with a little help from Wikipedia, the free encyclopedia, British Tourist Authority and generous contributions from fellow bloggers (you know who you are ;-) We've compiled a shortlist of the UKs top 5 holiday destinations for UK holidaymakers. If you have a favourite spot in Britain, post your top 5 here and let everyone know your 'UK Top 5 Holiday Destinations'.

For Beefeaters, Big Ben, Madam Tussuad's, Hyde Park, Notting Hill Carnival, Buckingham Palace, Houses of Parliament, London Bridge, Tower of London, London Dungeons, the London Eye and Princess Diana's memorial visit London. The city is a major tourist destination both for domestic and overseas visitors. Tourist attractions include Hyde Park, Notting Hill Carnival, Changing of the Guard, Buckingham Palace, Tower Bridge, St Paul's Cathedral, Houses of Parliament, The National Gallery, Tate Modern, Red Double Decker Buses, Oxford Street, Harvey Nicks, Camden market, Leicester Square, Covent Garden market and Kew Garden - Phew! For more info click londoncabby.blogspot.com and diamondgeezer.blogspot.com

For amazing architecture, monuments, nooks, crannies and well kept secrets visit Edinburgh. The city is one of Europe's major tourist destinations, attracting 1 million visitors a year. Tourist attractions include Edinburgh Castle, St. Andrews Square, Rose Street, Edinburgh Dungeon, Fruitmarket Gallery, St. Giles Cathedral, Scotch Whisky Experience, Greyfriars Bobby, The West End and Princes Street. For more info click Edinburgh.org and theedinburghblog.co.uk

For world class rugby, 2000-year old castle, stunning Millennium Centre, amazing country side and National Park visit Cardiff. Tourist attractions include Millennium Stadium, Wales Millennium Centre, City Hall, Llandaff Cathedral, Castell Coch, National Museum and Art Gallery, Cardiff Castle, National History Museum and Roath Park. For more info click travel.aol.com and visitbritian.com

For wonderful coast or countryside walks and some of the best beaches in Britain visit North Norfolk. Tourist attractions include National Trust Houses, Holkham beach, Royal Sandringham, Cley windmill, Langham Glass, Pensthorpe Waterfowl Park & Gardens, Seal Trips to Blakeney Point, The Muckleburgh Collection, Sheringham Park and famous bird reserves. For more info click waveneyvalleyblog.com and bbc.co.uk/norfolk

For cream teas, Jane Austen, coastal scenery, sandy beaches visit Bath. Tourist attractions include Popham Beach, Robinhood Marina, Reid State Park, the Studio Theatre, Chocolate Church Performing Arts Center, Morse Mountain Conservation Area, Bath's Maine Maritime Museum and Bath farmers market. For more info click lonelyplanet.com and visitbath.com

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Is now the time to rent?

Thousands of Buy-to-let landlords face negative equity
It's common knowledge amongst estate agents, that First Time Buyers fuel the real estate market. With mortgage providers tightening their lending restrictions, Buy-To-Let investors who purchased residential property in the last few years are seeing Capital Growth & Rental Yield plummet as rental income falls and mortgage rates rise.

Private landlords consider increasing their potential market
More than 23,200 people with 100% mortgages could owe more than their home is worth, the BBC learns. But the forecast isn't all doom & gloom. Smarter investors are looking at multi-lets as a way of increasing rental yield and reducing vacant periods. Whilst Buy-to-let landlords in suburbia are considering niche property markets such as 'pet-friendly-rentals' which increases your potential market.

Landlords search for tenants
The smartwaytorent.com recently reported a strong increase in demand for rental property in the Thanet area of Kent, which is an encouraging sign for landlords with property to rent in Thanet

Whilst demand is still strong in The City
With all the national news focusing on the downturn in the property market, London Property Consultants, Callum Roberts are finding an unexpected upturn in rentals in The City and The City fringe areas of London.

*Source: hotpropertywebsites.co.uk/propertynews...

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