There is little doubt that there are very real problems in the UK property market right now. Property investing specialist, Rick Otton, has just released a ‘no holds barred’ report on how, with some strategic thinking, smart investors are getting ahead in this volatile market.
A new free report by property investing expert, Rick Otton, has identified some innovative solutions for people looking at UK property investing in what is acknowledged to be a very difficult market.
It has been reported that because of falling property prices, almost 4 million UK home owners are in a state of negative equity -- their properties are worth less than their mortgages.
The National Housing Federation (NHF) reports that in 2007 the average home buyer in England paid almost £217,000 for a home. Current estimates suggest that it will not be until 2014 that prices will recover enough to see them in a situation where their properties will be worth more than they paid.
Otton believes that following conventional bank/deposit/mortgage traditions, home owners and investors are putting themselves at a massive disadvantage.
“For too long we have been told by the big end of town that the only way to buy a home is to work hard, save, and use up our life savings as a deposit,” explained Mr Otton.
“And then we are made to jump through endless hoops before we are deemed acceptable to borrow their money. Those with no credit history, or who are self-employed, are really challenged when looking to borrow to buy a home,” he said.
2011 and Beyond
The NHF reports that house prices in England are expected to fall by a further 3% in 2011, which will further exacerbate the negative-equity situation. Home owners wanting to sell their properties, because meeting repayments has become impossible, are the ones who are in particularly desperate situations.
PricewaterhouseCoopers has warned that prices may not reach the levels of the property peak for another decade.
The British government as well has done its bit worsen the situation with its decision to withdraw affordable housing funding and to do away with regional house-building targets.
David Orr, NHF chief executive recently told the BBC that “Proposed caps on housing benefit payments could also put nearly a million people on low incomes at risk of losing their home.”
The Alternatives are Here, Now
Mr Otton, in his free report “The Big Property Lie!” discusses some of the ways that he has, by ‘buying a house for £1’, gone from £0 to £1.7 million in just 17 months, during very difficult economic times. He is teaching others now to do the same, and the report includes some very real case studies from the UK.
Otton believes that by ‘thinking outside the box’ home ownership is within reach of everyone, and that there has perhaps never been a better time to invest in UK property - if you are prepared to embrace the alternatives to the work-save-deposit-debt system.
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