Estate Agents are Open to Offers Summer 2008

Estate Agents offices and showrooms up and down the UK are close to empty as the majority of the nation feels the effect of the credit crunch. Indeed, whilst at this time last year (at the peak of the boom) agents were reluctant to meet and greet property investors (probably because they always knew we offer low!) - the tide has changed leaving investors in a better bargaining position and being able pick up good property deals - particularly over the last few months.

Some tips on approaching Estate Agents:

(a) Take your time and nurture a relationship with the Agent. They want to know that you are serious. You should have a good understanding of your chosen area, what prices/rents are doing (head to Rightmove / Zoopla / Net House Prices) and show estate agents you have done your research. Explain the fact that you can move fast and can help fix ‘chains’ where a buyer has dropped out of a sale by completing quick.

(b) At the moment Estate Agents are not busy so it is highly likely that they would be more than willing to show you around some properties on their books. Ask them to email you the details prior to your visit and undertake as much due diligence as possible such as verifying the open market value (have their been any recent sales in the last three months?) as well as referring to our rates table via our website which is updated daily with new products on the market (what would this property need to value up to in order to get it to stack?);

(c) Dress professionally and take a tick sheet which could point out any potential issues with the property which could help you negotiate your offer price further;

(d) Act friendly and courteously whilst doing your very best to find out what is the situation that the vendor is facing. Property acquisition is a numbers game and you should be prepared to deal with the fact that most owners, even in the current climate, are not willing to accept Below Market Value (BMV) offers. However, do not let this dishearten you - once you have found a potential deal, it’ll all be worth it!

(e) At the end, thank them for their time; leave your card and explain that you will take your notes and head back to your office to do some further research;

(f) If the Agent is close to you, pop in the next day arming yourself with as much information as possible - perhaps a recent Hometrack report; some evidence of visible house price drops in your area and examples of what you will be able to achieve in rent for the property you have viewed. The key here is not to not act too bullish and confrontational and have a frank and open discussion with the Agent about why you have come to your given purchase price;

* Make lots of offers. The worst that can happen is that the vendor will say no!
* If you are polite and come across as professional the Agent will have no reason to feel ‘offended’ by your low offer;
* You must learn to develop a thick skin; and lastly
* Keep Asking!

Be Fearful When People Are Greedy, Be Greedy When People Are Fearful

So why do so many property investors run the other way when the opportunity to "buy low" finally comes around?


The Answer Is Simple.

Most people follow what everybody else is doing. Psychologists

call this the "herd instinct".



For the most part, the herd instinct serves us well. For

example if you are swimming in the ocean and somebody shouted

'SHARK!' you'd be wise to follow the herd back to shore.



When it comes to investing however, the herd are almost always

going in the wrong direction. They tend to do whatever the

newspapers tell them to do or not to do, not realising that

millions of other people are going to be doing the same thing

in the same way!



Ordinary people follow the herd and invest when prices are

already too high. Then they get disillusioned and sell when

prices are low, vowing to never again waste their money

in the stock/property market.



Smart investors go against the grain. They buy solid assets

at knock down prices when others need to sell. They make shrewd

decisions based on sound investment principles and do very

well for themselves over the long term. That is why only 3% of

the population are considered truly 'wealthy'.



To do really well out of the current property climate, you

need to educate yourself on the things other investors have done

when previous property booms came to an end...



- How did they raise finance?



- How did they find great deals in superb locations?



- What strategies did they follow for profiting from a downward

or stable market?



- How did they maximise the cashflow form their properties?



I will be sharing all of these concepts and much more with

you on Saturday the 5th of July at Heathrow, London. That is

where I will be holding a workshop titled "Proven Time Tested

Strategies For Profiting From A Downturn In The Property

Market".



I will be sharing strategies with you that have worked for

shrewd property investors during previous downturns in the

property market - these are the investors who came out the other

end smelling of roses while so many around them lost their

shirts.



These are the classic 'defensive strategies' that you need to

be putting in place now so that you can produce superior returns

over everyone else in the next 3-5 years.



Don't miss out. Book your place today before the event sells

out (all of our workshop tickets always sell out within a few

days of them going up for sale).



To find out more about the "Proven Time tested Strategies For

Profiting From A Downturn In The Property Market" workshop or

to book your tickets visit:



>> http://www.property-system.com/ProvenStrategies.htm



As you might expect from me, this workshop is fully covered

by my usual quality guarantee - great value or you can ask

for your money back at any time during the event. I'm also

going to be giving away £1,800 worth of bonus gifts to ALL the

attendees as my way of giving you over the top value for money.



Tickets will be completely sold out within a few days. Don't

miss out if you want to learn how to adapt your strategy to the

current climate. The link again for more information is:



>> http://www.property-system.com/ProvenStrategies.htm



Please feel free to contact me if I can help you in any way.



Kind regards



Parmdeep Vadesha

Managing Director, Vadesha Properties Ltd

www.property-system.com

Tel: 0116 2460205

Vadesha Properties Ltd



314 Uppingham Road

Leicester, Leicestershire

LE5 2BE

UK

TOMORROW: Berkshire Property Meet & details of the prize draw

We looking forward to seeing you tomorrow night for another great evening of networking at the UKs Leading Property Networking Event, the Berkshire Property Meet! This is your best opportunity to network with up to 200 property investors, property experts and property professionals (250 in May), so it really is a MUST attend event.

Holiday Inn
Manor Lane
Maidenhead, SL6 2RA

Starts 7pm

£10 on the door

We are honoured once again to have a premier speaker - Rob Moore from Progressive Properties - at your meet tomorrow. Rob will start speaking at 8pm.

Who is Rob Moore?



Rob is a self made businessman, Full time Property Investor & Best selling Author of "The 44 Most Closely Guarded Property Secrets" and "Make Cash in a Property Crash".

Rob Moore & his business partner Mark Homer have been regularly buying below-market-value property with great success for themselves and fellow investors. They share what their experiences are of the current market and how they are turning this to their advantage.
Win 20 copies of "The 44 Most Closely Guarded Property Secrets" and "Make Cash in a Property Crash" and an IPOD Nano packed with great audios to help you succeed.
http://www.progressiveproperty.co.uk/landing/property-book-set-video-launch


Some of the regular experts who attend the Berkshire Property Meet:-
Glenn Armstrong - Bought and traded nearly 500 properties
Barry Danser - Finance / Rent Rescue
David Lee - Cash Flow Investor
Richard Sheppard - Property Tutor / Investor
Abdul Malik - Lease Options
Nick Pedrithes - BMV / HMO Expert / Finance
Sonny Walia - Meet the Surveyor
Darren Hunt - Property Sourcer / Investor
Simon Zutshi - Property Investor Network
Jim Haliburton - HMO Daddy
Kevan Keegan - Rent Back Charter Association
Anthony Lyons - Editor, Your Property Network
Plus many many more active investors, experts & professionals



BMV Clinic
There is also the regular BMV clinic run by our good friend and everyone's mentor, Nick Pedrithes. This is very informal and runs from 5pm until 6:45pm ish. Come along with any questions you may have Sylvia and Nick will gladly discuss your options with you.


Just follow the link to enter the DRAW:-
http://www.progressiveproperty.co.uk/landing/property-book-set-video-launch

Florida or Bust

People have flocked to the 'sunshine state' for years attracted by the climate, the proximity to the coast and numerous theme parks. Most of all by the fact that they could buy a large property with a garden and a swimming pool for half the price of a considerably smaller house in the UK.

And if you bought your retirement house or holiday home back then, it is still doing exactly what you bought it for. Giving you a nice retirement lifestyle or somewhere to take the grandchildren to see Mickey.

The value of your house is irrelevant if you do not need to sell. In the long term, property will always be a sound investment.

"Most people bought as a mid to long term investment, to live in, have as a second home or as a retirement fund", says Lee Weaver, director of the British Homes Group in Kissimmee, "Unless you really have to sell, the advice is 100% to sit tight."

For those who have to sell their homes however, the situation is bleak. The slump caused by the US sub prime crisis has sent repossessions soaring and prices dropping.

For the investor this presents an opportunity.

A 3 bedroom home in Kissimmee that sold for $240,000 a year ago can now be snapped up for $198,000, a 17.5% decrease. And in Miami, where prices were rising by more than 20% annually as recently as 2005, house prices showed a 19.3% decline last year, according to the Case-Shiller home price index.

In parts of southern and central Florida particularly near Orlando, there are many vacant properties available.

So will the Florida market recover?

Eventually yes, because the sun still shines, the beaches await, they have great healthcare and Mickey Mouse is alive and well. It's those good old fundamentals again!

"When the pendulum swings that far to the right, it has to swing that much more to the left to even things out again" according to Kimberley Kirschner, chair of the Realtor Association of Greater Miami and the Beaches, "Prices went much higher than expected and although the drop is significant they're getting back close to normal".

She believes that parts of the Miami housing market are already on the road to recovery, helped by overseas buyers taking advantage of the weak US dollar.


In good times or bad, there's always a property deal to be found somewhere!

How can I make money in a falling market?

In the good times everything is rosy in the garden. Your chosen asset or investment is steadily increasing in value and all is well with the world. Even if you do nothing you will still make money.

But life isn't like that all the time and the value of most investments, as we are constantly reminded in the small print, can go down as well as up.

For the long-term investor, it is the long-term performance that counts. You will sit tight, secure in the knowledge that eventually your capital gain will appear (a capital gain that is taxed these days at just 18% with a tax free element of £9600).

In the short term though, how do you make money in a falling market?

The first way is that falling markets produce motivated sellers.

There are always reasons for people to move, some good some bad; relocation due to promotion or new jobs, growing families requiring more space, splitting families and mortgage difficulties. Some sellers have to move and need to move quickly.

They need to sell and you can offer to buy - at a discount of course.

Boo you say, taking advantage of others' misfortune!

Well first of all let us remind ourselves that we are in the property business to make money. That's a cold hard fact and you may have to harden your heart a little along the way. But second, let's remember that they want to sell at the best deal for them and you want to buy at the best deal for you. It cuts both ways. They would drop your offer in an instant if a better one came along.

Your finance is in place, there is no chain or complications and you can complete quickly. You are exactly the sort of buyer they were hoping for. Your appearance on the scene will save them time and the money involved in aborted transactions. Yes, you will offer a lower price because you have these advantages.

The other way to make money in a falling market is to buy at the bottom. Really? You would have to be a genius to call the bottom of a market but the good news is you don't have to be that precise, it's fine to buy just before or just after that point.

Let's call it a zone of opportunity.

How to spot that? - research, research, research, good estate agency contacts and knowing if the area you are considering is, in the mid to long term, always going to be a good bet. In other words, that the fundamentals are still in place.

Are the factors that made the investment a good one in the first place, still relevant and more importantly, still there?

As promised, here is the link to see the photos of the recent
Berkshire Property Meet on 17th September. It was a phenomenal
evening with over 100 people and next month is going to be even
better so keep Monday 15th October free! Our guest Speaker will be
announced shortly.

We would like to give special thanks to Belinda, Hus and Darren
Hunt for their help during the evening.

There's a lot to tell you in this email in direct response to your
questions following Monday nights' Berkshire Property Meet, so I
hope you find this informative.



1) We were very fortunate to have a friend of ours, Brian
Ollivierre, come and take some great snaps for us. Please go to the
following link to view the pictures:

http://picasaweb.google.co.uk/mrandmrsrai/BerkshirePropertyMeetSeptember2007



2) Huge thanks to Glenn Armstrong for taking the time to come down
and talk at the Berkshire Property Meet. Also thank you to Barry
Danser, Nick Pedrithes and Jason Bonner for ensuring the evening
ran smoothly. For those of you who asked for more information on
how Glenn built his property portfolio of 150+ properties please
see the following link:

http://tinyurl.com/3yx5sp



3) Many people ask how and why we do what we do. Where do we find
the time and energy and still work full-time as well? One of the
driving forces behind this was an amazing event we attended last year.
Again, we have been asked for more details which you can find at:

http://www.mrandmrsrai.com/chrishoward.htm

Thank you & Additional Information.

THANK YOU all for attending our 7th BPM last night to see and hear
our Guest Speaker - Glenn Armstrong! What a night it was - lots of
new faces, many familiar faces and an evening with over 110 people!
Hope you all left with many new contacts, some nuggets of
invaluable information from Glenn and the promise to yourself that
you will be back for Monday 15th October!


Our good friend Glenn Armstrong is a property investor who
specialises in doing no money down property deals. As he has
purchased over 150 properties since June 2004 and is speaking at
this years property investor show you could say that he walks the
walk and talks the talk. He spoke at last years property investor
shows at GMax, NEC and Excel and is a regular speaker at many other
events.

The great news is that he is running his very popular and highly
praised property course on how to buy property below market value
(see http://tinyurl.com/3yx5sp) in Milton Keynes on

Saturday 29th September at £500 plus vat this represents amazing
value.

On Sunday the 30th he is also running the 3rd in a series of ten
more in depth courses. This months event is all about negotiating
(see http://tinyurl.com/3yx5sp)

There are three additional guest speakers, Mark Harrison on
negotiating Caroline Hume a Partner in Neves Solicitors who is
talking about the conveyancing process in relation to no money down
property deals and John Goodinson an accountant who specialises in
property tax matters and is an expert on NLP will be talking on
body language and the advantages in understanding body language
when negotiating.

At £250 plus vat this represents amazing value however I have
negotiated an extra £50 off if you book via me.

So if you are serious about doing no money down property deals,
building a property portfolio fast and you would like to learn from
an expert you cannot afford to miss these two days with Glenn Armstrong

G&A Property
Unit 3 Heathfield
Stacey Bushes
Milton Keynes
MK12 6HP
01908-423700
07768-594949
http://tinyurl.com/3yx5sp


Remember you can also connect with Berkshire Property Meet members
on facebook. It's free to register and use.

See photo's from last meeting:-
http://picasaweb.google.co.uk/mrandmrsrai/BerkshirePropertyMeetSeptember2007

Join the Berkshire Property Meet group
http://groups.to/berkshirepropertymeet/


If you are one of the nearly 300 guests we have registered for
Breakthrough to Success see who else is going join the facebook
group http://groups.to/breakthroughtosuccess/

Berkshire Property Meet's 1st Speaker by Popular Demand is...

We are very pleased to announce BPMs first speaker. We have listened
to our members and gone for the best!

Our speaker will be GLENN ARMSTRONG.

Who is Glenn?

Glenn Armstrong started buying houses in June 2004. He bought 6 and
then ran out of money...

Faced with a dilemma that most of us have, he would have given up
a long time ago - however Glenn decided to continue on with a new
strategy. He implemented a way to buy lots of properties without ever
running out of money, and has gone on to achieve incredible success.

Since then he has bought OVER 100 properties (no. 100 and no. 101
were purchased on 11th and 12th of January 2007).

During his journey he found that people started asking for his
advice including questions on how to find reliable support such as
solicitors, accountants and mortgage brokers, and just how to find
properties that could be bought at such huge discounts to enable
them to be purchased for no money down, while still generating
positive cashflow.

To date, Glenn has an unrivalled reputation for being the key
property investor who continues to walk the talk, while others
simply talk the talk.

Make a COMMITMENT in your diary for this one, now!
Monday 17th September 2007 - doors open at 7pm.

There are limited spaces, so please arrive prompt at 7pm to secure
your seat. There will be a charge of £10 on the door to cover our
costs for the new venue.

See you at the Berkshire Property Meet tomorrow

The very successful and vibrant Berkshire Property Meet is on again
tomorrow. We look forward to seeing you there for another great
evening of lively discussion with people who are passionate about
making a success out of property investing.

The meeting starts at 7pm and goes on until the venue switches off the
lights and pushes us out the door!



Please forward this onto anyone else you know is interested in
getting started in property investing or is already active.

We look forward to seeing you there.

Berkshire Property Meet on Facebook

We hope you're enjoying your weekend and making the most of the Sun
while it lasts!

A question we often get asked is "Can we give out contacts details of
people who attend the BPM?". As many of you know Data Protections
rules will not allow us to pass on e-mail addresses and we take your
privacy very seriously.

However we have come up with a solution ! Have you heard of
Facebook.com? It's simple, Free and very easy to use. We have created
a group called Berkshire Property Meet within Facebook and would
encourage all BPM members to sign up to Facebook if you haven't
already joined.

Facebook.com is a fantastic way of keeping in touch and improving your
network. So, you can also contact any BPM member you want and we
don't have to bend any rules! Now that's what we call simple a
win-win scenario!!

If you're already a member of facebook.com just click on this link to
join the Berkshire Property Meet group:

http://groups.to/berkshirepropertymeet/

We have found this very useful. We look forward to seeing you on
Facebook and at the next BPM on 20th August 2007!

The EPC is Closing In On Landlords

With yet another new piece of legislation looming and so many special offers the EPC (Energy Performance Certificate) is closing in on landlords. From October 1st 2008 all serious prospective tenants must be given a copy of the EPC either prior to or at the viewing of the property.

As a student landlord the logistics of handing out this piece of paper to any student who wants to view or is viewing a property could be potentially challenging.

Once properties are released around January 1st each year in our neck of the woods, students charge through available properties seeking the best accommodation in the area. Nearly all viewings by students are unaccompanied. The whole process from telephoning the landlord, contacting the existing tenants and viewing the property is pretty quick, often involving only a few hours or, in one case this year, a few minutes.

Student property details are published by letting agents and on County Council accreditation lists, so many students are now cold calling and missing out the contact with agent or private landlord. What if a student cold calls, without the landlord's knowledge and they didn't get an EPC?

The Government has not thought through very carefully the practicalities of this legislation. A better solution would be if an EPC were available for viewing only at the property by prospective tenants. They cannot take away a copy of the Landlord's Gas Certificate, Student Accreditation Certificate, PAT Certificate, 5 Year Electrical Certificate, Insurance Certificate etc, so why the need to take away an EPC?

When new tenants view their tenancy agreement and before signing, it is at this point that the EPC could be attached to the tenancy agreement. If the detail of the EPC, when viewed again, is a major priority for the student then it is not too late to back out before signing the contract.

Do you remember when school reports became more sophisticated? No longer just a grade C, but a long explanation on targets, ways to improve and progress. Despite this improvement to the report the parent usually looks at the grade first, not the comment. The EPC will go the same way. A much simpler solution would be to include an EPC rating in all written tenancy contracts. No written contract? Then provide a copy of the EPC before the tenancy begins.

EPC ratings are appearing in adverts - not yet compulsory. It's difficult to understand why a landlord would want to advertise that their property has an EPC rating of F, however a recent advert voluntarily displayed this information to all prospective tenants!

My solution is to leave a pile of certificates in the property and to ask the existing tenants to offer serious prospective tenants a copy of the EPC at the time of viewing. Scanning the certificate, as an email attachment to prospective tenants is another way to be explored. Any other ideas out there?

Are landlords rushing out to upgrade their old gas boiler to improve their EPC rating? The EPC could potentially discourage landlords from making upgrades to their property. The certificate lasts for 10 years, however landlords will need a new certificate and further expense, every time they make a significant energy improvement.

The location of the property - nearness to shops, pubs, nightlife, bus stops and quality of furnishings and furniture will probably feature more highly in the student's list of priorities, rather than an EPC, for a long time to come.

Interest rates kept on hold at 5%

UK interest rates have been left unchanged at 5% following the latest meeting of the Bank of England's Monetary Policy Committee (MPC).

The decision to hold rates had been widely expected amid concerns about the pace of inflation.

Rising food and fuel prices pushed inflation to 3% in April, well above the government target of 2%.

The MPC has already cut interest rates three times since December 2007 in an attempt to help the slowing economy.

However, the economic slowdown and falling house prices had led some to call for another cut in rates to boost spending.

Businesses squeezed

Many economists feel that the MPC needs to wait and see whether higher food and fuel prices lead to higher wages or lower spending in other areas before changing rates.


The necessity to write a letter to the chancellor should not be the overriding consideration for the MPC
David Kern, British Chambers of Commerce

If inflation rises above 3% then Bank of England governor Mervyn King must write to the chancellor to explain why.

At the MPC's last meeting in May, only one of its nine members voted to cut rates.

"The Bank had little option this month other than to leave interest rates on hold," said Ian McCafferty, chief economic adviser to the employers' group, the CBI.

"Oil and commodity prices are still of great concern and businesses are having to raise prices as profit margins get squeezed further."

Slowdown predicted

House prices are falling as the credit crunch makes lenders reluctant to provide mortgages.

The latest figures from the biggest mortgage lender, the Halifax, showed a 2.4% fall in house prices during May.

This week, the Organisation for Economic Co-operation and Development predicted that UK growth would slow to 1.8% this year and to 1.4% in 2009. It said the global credit crisis, the high costs of commodities such as oil and slowing property markets were all hurting the UK economy.

On Wednesday, the Home Builders Federation called for a half-point cut in interest rates 4.5%, saying a cut was "imperative" to avoid a severe housing market slowdown.

Also on Wednesday, figures from the Chartered Institute for Purchasing and Supply indicated that the UK service sector shrank in May for the first time in five years, as costs rose and confidence in business prospects fell.

Threats to growth

The British Chambers of Commerce (BCC) said that the MPC should be considering the whole economic outlook and not just inflation.

"We understand the critical need for the MPC to maintain credibility, but the MPC cannot disregard the worsening threats to growth," said BCC economic adviser David Kern.

"The necessity to write a letter to the chancellor should not be the overriding consideration for the MPC."

But the British Retail Consortium supported the decision to keep rates unchanged.

"Struggling customers and retailers certainly need a boost but, with rising oil and commodity prices stoking inflation to well above the 2% target, leaving rates unchanged was the wise option," said its director general Stephen Robertson.

Sale and rent back schemes 'desperately need regulating'

The sale and rent back sector in the UK housing market "desperately needs regulating", a charity has claimed. The Office of Fair Trading (OFT) is currently conducting a market study into sale and rent back schemes, whereby homeowners sell their property at a discount in return for the option to remain in their home as a tenant.

Controversy has surrounded the schemes with consumer groups cautioning that some homeowners who take up the offer are offered little protection from rent increases and the prospect of being effectively forced out by their landlord.

Responding to developments, the Homeowners Advice Centre welcomed the OFT probe which it claims is required in part because the number of people opting for the scheme has increased "steeply in the last few months" thus leaving many more homeowners vulnerable to unscrupulous investors.

A spokesman said: "I estimate 95 per cent of all companies advertising on the internet and the classifieds are individual landlords or small companies looking to build a cheap buy-to-let portfolio quickly as opposed to organisations that have set out to provide long-term lets and debt relief. "I suspect that most of the smaller providers would close down or stop advertising if the OFT ensured that the lease was a minimum of 20 years and they had to have £1million in equity or liquidable assets before trading."

Thank your customer, tell them how valuable they are to you, but don't go overboard. Insincerity is easy to spot.

Mortgage approvals hit 15-year low

Mortgage approvals for house purchase dropped to the lowest level since 1993 during April. According to new data from the Bank of England, some 58,000 home loans were granted by lenders in April. This compares to a figure of 113,000 for the same month last year and is the lowest figure recorded since the Bank began compiling housing market data. The overall value of mortgages approved was £23.8 billion - £2.3 billion below the average lent by mortgage providers in the previous six months.

This highlights very clearly the real problem facing not just the property market but also the wider economy. A collapse in transactions of this magnitude has major implications both for consumer spending and a wide range of ancillary industries.

Lenders are continuing to tighten up on the conditions accompanying new loans making it hard for first-time buyers to take advantage of the modest fall in house prices seen over the part few months.

Base rate 'to hit 4% by end of next year'

The key base rate of interest could come down to around four per cent by 2009. Relief is on the way for beleaguered homeowners but they should not expect dramatic cuts of the kind imposed by the Federal Reserve in the near term.

The extended muted economic activity will eventually markedly dilute underlying inflationary pressures and lead the Bank of England to cut interest rates further.
.
The benchmark rate of interest currently stands at five per cent.

Repossessions crisis 'could be worse than 1992'

More homebuyers are at risk of losing their homes than during the property bust of 1992, new research says. As many as 1.8 million buyers will be struggling to cover monthly repayments by the end of this year.

The figure is 200,000 higher than in 1992, when the country was gripped by recession, rising unemployment and mortgage interest rates of 15 per cent. There are now 11.82 million mortgages in Britain, 2 million more than in 1992, meaning there is a larger pool of borrowers vulnerable to missing their repayments if, for example, they are made redundant.

The research suggests that if the percentage of mortgage arrears by the end of this year is even half what it was in 1992 then that period's grim total of 75,000 homes being repossessed in a year could be repeated. Many homeowners are stretched to the limit already to meet mortgage repayments, so would struggle if they were suddenly unable to work.

At the end of 2007 the number of mortgages more than 6 months in arrears was 0.48 per cent or 56,800, well below the 3.54 per cent recorded at the end of 1992.

However, if mortgage arrears at the end of 2008 were only half of that recorded at the end of 1992, then approximately 200,000 more households would be experiencing mortgage payment difficulties, leading potentially to much higher rates of repossessions and bankruptcies. UK homeowners have failed to learn the lessons of 1992, there are more people at risk of falling into mortgage arrears or having their home repossessed, and the vast majority of homeowners have no protection in place to guard against possible financial hardship. The boom of the late 1980s saw lenders offering loans of 100 per cent and more. However rising unemployment and interest rates left thousands unable to make repayments leading to debt and misery.

In 1992, when 75,000 homes were posessed, the average mortgage was a relatively modest 2.5 times salary. A lending boom over the last ten years has seen huge mortgages, worth up to six and seven times income, being handed out. Many of these loans have been made without proper checks on the finances of customers and their ability to make repayments. Now, even small increases in the headline rate of interest means repayments on these mega-loans can generate crippling increases in repayments.

There is a particular concern around so-called sub-prime home loan customers; people who have a black mark on their credit history and typically have to pay higher interest rates. More than a fifth of this group have fallen behind with mortgage repayments. The proportion of borrowers with poor credit histories who are more than 30 days in arrears rose to 21.73 per cent in the first three months of this year.
That is up from 19.41 per cent seen during the previous three months, and compares to 18.11 per cent for the same period last year. Those sub-prime borrowers falling into 'serious delinquency', 90 days or more behind, edged into double figures at 10.6 per cent.

The Council of Mortgage Lenders (CML) is predicting around 45,000 home repossessions this year, however some analysts suggest the figure could top 70,000.

Ministry of Justice data showed that a total of 27,530 mortgage repossession orders were made during the first three months of 2008. That was up 17 per cent on the same period a year ago and the highest level for 16 years.

The economic growth experienced in the UK in the past 15 years has encouraged a short-term view of finances with a buy today and pay tomorrow attitude.

While the current repossession figures are low, people looking to remortgage generally have to switch to a more expensive option. Two years ago those looking to re-finance would have got a better rate from a competitor. But lending criteria has tightened up recently, so that's not so much the case now.

The Berkshire Property Meet News

First of all we must thank all those outstanding people who made it
to the 16th July 2007 BPM. THANK YOU! After a slow start we were
overwhelmed by the number of people that attended.

It's encouraging to hear, from so many of you, how much people are
getting out of this meet. What we observe is all the animated
conversations and smiling faces. People are leaving with new
contacts, ideas and friends.

As stated in our previous e-mails the No.1 request we are getting is
for a speaker. In order to accommodate this we are already looking
for a new venue and talking to a number of speakers, all of whom
will provide beneficial advice helping you move forward in your
business.

The date of the next FREE meeting will be Monday 20th August - same
time, same place. If you have any questions please ask!

Berkshire Property Meet 16th July 2007 - Topics for discussion

Just a quick reminder that the BPM is being held tomorrow night
starting at 7pm as usual.


In direct response to feedback, we are introducing Topics for
Discussion. We have had a number of questions about Redemption
Figures when analysing deals, so the Topics for tomorrow evening are:

"How to find out what the Redemption Figures are on the 1st, 2nd
and subsequent charges on a property"

"How to reduce secured loans - will lenders negotiate?"

Please bring your questions, answers and any creative tips for the
lively discussion that will take place.

Look forward to seeing you there!

Your Feed-back about Berkshire Property Meet

Hope you've had a cracking weekend!

Just dropping you a note to remind you of the next Berkshire
Property Meet which is being held on Monday 16th July 2007 - same
place - same time. As always bring your business cards and any
questions you would like some help with. Please feel free to e-mail
us in advance if you have a burning question and we can try to get
you the answer on the evening.

Thank you all for the great feedback on the BPM. Also thanks for
the overwhelming messages of support and positive responses we have
had. It's good to know people are finding the BPM of benefit.

The number one request was for guest speakers! In order to oblige
we will be looking for a more suitable venue that will accommodate
a speakers needs. We will try and make sure that it lives up to the
benefits of our current location:

- Easily accessible
- FREE parking
- Close to the M4 and M40
- Friendly staff and management
- Liked by all attendees

There have been a few other great suggestions that we are looking
into implementing, all of which will enhance the BPM experience.

We have been to various Networking events, big and small. The most
important thing is to go with an open mind knowing that one brief
conversation with any attendee could be the one idea that elevates
your business to the next level!

For those people who have asked for extra Chris Howard tickets the
easiest thing to do is use this link to register for free tickets
http://www.mrandmrsrai.com/chrishoward.htm

See you there on the 16th July 2007 for the FREE event!

Berkshire Property Meet Feedback

Hope you're having a great weekend, even though it has been raining
non-stop!

Firstly we want to say thanks to all the people that have replied
saying how much they are getting out of the BPM and how informative
and friendly the meetings are! That's excellent!

We've had a good variety of suggestions on how to make it even
BETTER. If you haven't written to us yet and have something to add,
please do it now:

1. What do you like about the event?
2. What do you not like about the event?
3. What one thing could we do next time to improve the event?

One suggestion was to 'move it to Birmingham' so that they could
attend more often! Thanks for the compliment, but we'll be staying
put in Berkshire for now.. :o)

Look forward to hearing from you soon.

Take care,

Can you help improve the Berkshire Property Meet?

It's been a hectic few days since the last BPM. We spent an
OUTSTANDING weekend with 12,000 highly motivated people at
Tony Robbins 'Unleash the Power Within' Event, this weekend! WOW!

The BPM has been running for a few moths now. It's been a great
success due to the quality of people we have been able to attract.
We would like to thank everyone who has been able to make it so far.

We would love to have some feedback from you. Please let us know:

1. What do you like about the event?
2. What do you not like about the event?
3. What one thing could we do next time to improve the event?

Don't worry about how small your comments are, they all help towards
creating better events.

Have a great week!

The next Berkshire Property Meet will be Monday 16th July 2007, same time,

The next Berkshire Property Meet will be Monday 16th July, same time,
same place and it's FREE!



We look forward to seeing you all again.

Thank you for making the Berkshire Property Meet such a success see you Monday!

he Berkshire Property Meet is this Monday 18th June 2007 from
7pm onwards.



We have also been told that Tony Robbins - Ultimate Power Weekend
is currently offering Buy One Get One Free on it's tickets for next
weekend, that's GBP295 + VAT for TWO tickets! Drop us an e-mail if
you are interested.

Please take the time if you are a member of a forum to let people
know about the BPM. The more quality people we can attract the more
you will get out of the BPM.. So get posting, texting and e-mailing!

do you know when the next Berkshire Property Meet is?

The Berkshire Property Meet for June 2007 will held on Monday 18th
June, same time & same place, for a reminder of the details please


We look forward to seeing you there

remember the BPM Monday !!

This is just a quick reminder that the Berkshire Property Meet is
this Monday 21st May 2007 from 7pm onwards.



We look forward to seeing you there. Have a GREAT weekend!

Jim Haliburton's - HMO Course - Are you interested

Have you heard of Jim Haliburton? He has 75 HMO's with over 500
tenants and 20 single-lets! I have spoken to Jim and he has offered
a discount on his one day HMO Course if we can get 10 people together
for the day.

Date: Sunday 27th May 2007

Times: 10am to 5pm

Location: Wednesbury - Junction 9 off the M6

Offer Price for a group of 10 = £165 each

If you're thinking of going down the HMO route this is the guy to
speak to!

If your interested please reply to this e-mail.

Message from Juswant & Sylvia

The next Berkshire Property Meet will be Monday 21st May, same time
and same place.


We look forward to seeing you all again.

Good Evening

Just want to say THANK YOU to all those who attended the Berkshire
Property Meet (BPM) and making it another great success.

The turnout was once again tremendous and everyone's willingness to
share selflessly was noted by all. With your help and support we
will continue to attract the right people and create the right
atmosphere.

Any feedback is greatly appreciated.

Thanks again and have a great long weekend break.

Next BPM details to follow shortly.

3 Days to Go to Next Berkshire Property Meet

This is just a quick reminder that the Berkshire Property Meet is
this Monday 30th April 2007 from 7pm onwards.


We look forward to seeing you there. Have a GREAT weekend!

Berkshire Property Meet

Hello

Just want to say THANK YOU for attending and making our
first Berkshire Property Networking Event such a success.

The turnout was great and, based on feedback so far, we all learnt
something new and/or made new contacts - which is what this is all
about !

There is a definite demand for a regular meet, so we will be in
touch, very soon with dates for your diary.

Thanks again and have a great long weekend break.