Getting an affordable property for sale shouldn’t be based on current interest rates, since they constantly fluctuate. True affordability comes in the terms of the transaction.
(PRWEB) December 22, 2013
A new survey from the Building Societies Association is warning Britons that interest rate hikes threaten the stability of the housing market in 2014, ([Moneyfacts.co.uk reported on December 16, 2013).
The report added that 46 percent of respondents are afraid that repayment of mortgages will become unaffordable once interest rates in the UK go back up, and this may prevent them from purchasing a house for sale.
“Housing affordability is a big issue for many Britons right now, so people take advantage of favourable buying conditions, like low interest rates, in order to structure a property that’s affordable,” according to Mr. Otton in a press interview for his Free Property Ebook.
“This practice, however, is a big mistake. Getting an affordable property for sale shouldn’t be based on current interest rates, since they constantly fluctuate. True affordability comes in the terms of the transaction, and flexible terms give homebuyers the best chance to find an affordable home without saving up for a large deposit or applying for new mortgages,” he explained.
Mr. Otton then shared an example of how flexible payment terms can help people create truly affordable deals on both old and new homes.
“If someone says they want £200,000 for their house. I’ll insist to give them £220,000 instead. Many People believe that an affordably priced house is the one where 50 per cent have been slashed off the original price. When, in truth, the real bargains have to made by structuring the payment terms between the buyers and sellers - so each can benefit from the transaction,” Mr. Otton said.
You can log on to http://www.rickotton.co.uk/ now to get more information about Rick Otton and his creative strategies.
About Rick Otton
Rick Otton is a property investment professional who, over the last 23 years, has introduced innovative real estate strategies to the UK, Australian and the United States. His creative ‘low-risk, high-reward’ approach to buying and selling houses is exemplified in his own business, We Buy Houses.
This year marks the 10-year anniversary of Mr. Otton introducing his strategies to the UK, and the 5 year anniversary of his innovative ‘Buy A House For A Pound’ process – one that attempted to be emulated by others. His constant process of strategy refinement, and adapting to the ever-changing real estate market, continues to place him at the forefront of property investment education.
In 2012 Rick Otton published his Australian book ‘How To Buy A House For A Dollar’ which was named in the list of Top 10 Most Popular Finance Titles for 2013. A UK version is on the drawing board for publication in 2014.
Mr. Otton freely shares insights into his non-bank-loan strategies that have allowed everyday UK men and women to beat the rental cycle and have their own homes. He coaches others on how to build profitable businesses by facilitating transactions that focus on the needs of potential buyers and motivated sellers.
Access his Free Report at http://www.rickotton.co.uk/freereport, as are the details of early bird pricing for his next UK 3-day real estate training conference in March 2014. Phone enquiries in the UK are welcome on 0207 000 1027.