The reports say that this surge in house prices is helping fuel UK’s economic recovery.
(PRWEB) September 20, 2014
The average cost for UK real estate is now at £272,000, while London real estate hit a record high at £500,000, the Guardian reported on 16 September 2014.
In light of this property news, RickOtton, highly respected property coach, reveals some secrets on how UK residents could buy houses for sale at more affordable terms through seller finance.
“Official data states that UK house prices experienced an 11 per cent surge over the past 12 months, while London property prices jumped 19.1 per cent in the same period. The Office of National Statistics also revealed that the surge in prices is also hitting first home buyers hard as properties sold to new entrants were 13.5 per cent more expensive this year compared to those sold a year ago. Home owner occupants, on the other hand, were also subjected to a 10.9 per cent increase during that period,” he shared.
“The reports say that this surge in house prices is helping fuel UK’s economic recovery. However, the flip side of this story is the struggle of regular folks to pay the deposit fee or qualify for new mortgages because of the increasing rates. These days, qualifying for a mortgage is becoming difficult, due to banks tightening up their lending. That’s why there’s a big need to find alternative ways to enter the property market without experiencing the financial struggles attached with the traditional process,” Mr. Otton added.
Mr. Otton then said in a recent interview for RickOtton.co.uk that seller finance strategies offer regular folks the power to buy houses for sale without worrying about high deposit fees or new mortgages.
“For example, rather than take out a new bank loan, an investor may negotiate to assume the existing loan and pay the remaining equity in increments. This helps the buyer minimise upfront costs. The seller, on the other hand, will be able to move away from unwanted debt quickly and create passive income in the process. It is a win-win for both parties,” Mr. Otton explained.
“When you eliminate the usual obstacles in traditional property deals a house becomes easier to buy, and when you make something easier to buy it becomes easier to sell, since more people would be able to afford to get in the property for sale without waiting for a few years just to save up enough cash,” according to Mr. Otton.
Visit http://www.rickotton.co.uk/ today to get more information about creative seller finance strategies and how these strategies can be applied in changing market conditions.
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.