Personal Money Management 101 Blog

Making an Offer

After viewing a property that you decide you’d like to own, the next step is to make a formal offer to the seller. If you’re using a realtor they should be able to help with this. Basically the offer says how much you’re willing to pay for the property and the dates on which you wish to complete the transaction and obtain possession (NB the possession date is usually one day after completion). Read the rest of this entry »

Why Buy in Canada?

Canada is probably the most beautiful country in the world and frequently nears the top of the UN quality of life tables (Human Development Index). Aside from that, Canada is a major destination for immigrants. All of these highly skilled and qualified people need accommodation when they land, thus the demand for good quality rental housing is high and likely to remain so well into the future. Read the rest of this entry »

Chains

A chain is where you wish to buy a house from Mr A, but Mr A is waiting to buy a house from Mr B, and Mr B is waiting to buy a house from Mr C etc. In view of the late stage of fixing a completion date chains occur all too frequently in English real estate transactions. Read the rest of this entry »

Renovation (Fixer-Uppers)

Be aware that builders and engineers in England don’t come cheap, and are of variable quality and efficiency. If you do decide on professional renovation be sure to get several detailed quotes for each task. Don’t necessarily take the cheapest, instead select the one that will do the best job for the money. Go for an established and experienced tradesman, preferably one that has been personally recommended. Don’t entertain unsolicited canvassers. Read the rest of this entry »

Arranging Finance

The UK has no shortage of choice of mortgage deals, including a wide variety of investor mortgages (known as “buy to let”). A properly qualified and licensed independent mortgage broker should be able to guide you through the maze.

Before consulting a broker it helps to make some decisions regarding the kind of mortgage you require, eg fixed or variable rate, special features like early repayment or overpayment facility etc. Read the rest of this entry »