What are the top 5 sought after towns in the UK?
In today’s economic climate where jobs are becoming progressively scarcer, a major factor that is driving people to move to new places is the rate of growth and levels of high employment. A recent survey has revealed the fastest growing and sought after towns in the UK.
Aldershot in Hampshire was once known mainly for its army barracks but today it is home to a set of
thriving companies that are generating wealth and jobs. As a result there is a massive housing estate being developed and it is anticipated that over the coming years the population of the town will grow from its current one of 33,000 to around 42,000, a 25% increase.
Cambridge is the centre of expansion for many high-tech firms and many companies are desperate to find the right sort of person. One centre of this growth is the Cambridge Science Park which is the oldest science park in the UK. The majority of the firms are in the bio-medical sector followed by IT and telecoms, though many other sectors are also represented.
Aberdeen thrives on its oil wealth and attracts workers eager to capitalise on the huge salaries that can be earned there. As well as working offshore, there are many opportunities in the rapidly growing oil and gas sector support companies. That the town is not the prettiest in the UK, and is cold and often clouded in sea mist does nothing to prevent it being one of the most sugh after towns in the UK.
Reading is only 25 minutes by train from Paddington Station and the house prices are very much lower than in London, so there are thousands of commuters who make the daily commute to the capital. But Reading is also a thriving and prosperous town in its own right, and many companies have chosen to locate their HQs there. It is a very attractive town too, and boasts many new top class restaurants with London prices.
The fastest growing town in the UK is Corby in Northamptonshire. Between 2007 and 2010, the number of council tax payers grew by 9%. It is expected that the population will double by 2030. The town has received substantial funding for regeneration and boasts a new swimming pool, a civic centre and a railway station. 640 new homes are under construction and you can find details on findaproperty.com/.
Tips for Buying a Second Home
There are many people who search property for sale in order to buy a second home. Each person that buys a second home has different reasons, ranging from wanting a home for when the children grow up to a perfect vacation home.
Why Buy Another House?
Many are buying a second home for a holiday retreat. In this case, if a person buys a house to cut down on the holiday expenses on the long term, it may prove to be a very profitable investment.
Another reason someone would buy a second home is for future investment. Even though the real estate prices have gone down, a person who buys a house for the purpose of selling it later may prove to have made a very good investment.
Retirement income is another reason a person would buy another house. Even if the value of the house is not as high as a person has hoped for when selling, with some renovation the value will increase.
What to Look For?
There are some factors that should be taken into consideration when you want to buy a new house. Maybe when a person searches for available properties they should look for a property that is close to his own house so the real estate agent cannot deceive you regarding the value of the house. Also look for people who are interested in a quick sell and maybe then you can buy the house at a lower price. Auctions are also a good place to look for bargains.
If a person buys a house and lends it out for the duration of holidays, but the house is empty for at least three months a year, then that person does not have to pay council tax.
Income can also be made from renting the new house to cover some of the expenses of the loan for it. Also, if a house is being rented for a longer period of time, the tenants may take very good care of it.
You can also search property for sale online, at on of the many real estate agencies sites.
More Mortgage Tips for Home Buyers
Mortgage deals are certainly perfect, especially when used properly. You are buying an asset using mortgage as the source of financing, so the money you invested on mortgage payments each month will certainly be worth every penny. There are several tips you can apply if you want to make the use of mortgage even more beneficial, and we are going to discuss them in this article.
First of all, make sure you look into the prepayment penalty attached to your mortgage deal. If possible, ask for no prepayment penalty or make sure the penalty is affordable. You never know when you will get a windfall that allows you to pay your mortgage off even sooner, and having no prepayment penalty will certainly be beneficial.
Don’t add items that don’t increase the value of your property in general. If you want to spend any extra money on your property, make sure you invest on home improvements. Home improvements tend to add values to the property in general, so the end value of your property can be higher than the overall costs of mortgage you have to pay in order to complete the purchase.
If you are having trouble keeping up with the monthly payment of your mortgage, contact your lender immediately and try to negotiate better mortgage deal. Explain the situation so that your lender can help you find better solutions for your problems. Avoiding your lender in the event of a financial difficulty will only lead to even more serious issues in the future.
Never the less the most important thing when buying a house is content insurance, to find out more about home contents insurance
click here.
Choosing a Mortgage Term
Depending on the situation you are dealing with, certain mortgage term can actually work better to your benefits. In order to enjoy the most benefits out of your mortgage, you must first understand how you choose a mortgage term correctly. That is exactly what we are going to discuss in this article.
A mortgage term can be anything from 10 to 30 years. Some mortgage deals are even set for 5-year mortgage term, allowing the property buyer to complete the mortgage payment and own the house even sooner. Naturally, the longer the mortgage term the lower monthly payment you will have to cope with each month.
Instead of going straight away for the longer mortgage term, you need to carefully assess the state of your personal finance and choose the mortgage term carefully. Look into the amount of money you can assign for mortgage payment and pick the right mortgage term accordingly.
If you opt for the longest possible mortgage term even if you can afford to pay more each month, you will end up paying more on interest and other charges. The difference can be as high as a couple of thousands each year, which means the overall costs of purchase for the property you are buying will be substantially higher.
The approach can be different if you are thinking of renting the purchased property out. You can simply calculate the amount of money you can get from the rent and pick the right mortgage term so that you don’t have to spend too much of your money in the process.