Sunday, 6 November 2011

Duke and Duchess of Cambridge to move into Kensington Palace!!!


After a personal intervention from the Queen to ensure that they were able to move into Princess Margaret's former apartment, Prince William and Princess Catherine are to make Kensington Palace their family home.

An estimated £1 million is said to being spent on renovating the luxurious four-story apartment which consists of 20-room complete with its own private walled garden. However the couple are not expected to move in officially until the work is complete in 2013.

In order to be able to get on with redecorating, as many of the rooms remain pink and turquoise (Princess Margaret’s favourite colours) extensive work will be carried out to rewire the electrics install new plumbing and remove asbestos.

The cost of the renovations will be met by a mix of contributions from the Royal Family’s own fortune as well as public grants.

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40% of people with a mortgage do not have life insurance...



According to a recent study carried out by Sainsbury's Life Insurance, four out of ten people living in the UK who possess a mortgage have no life insurance protection for their mortgage.

The research showed that one in three people aged between 35 and 44 years old do not have cover. This age range represents the age group which are most likely to have dependents, and arguably are possibly most in need of life insurance due to their dependents.

Helen Williams, head of Sainsbury's Life Insurance, said: "Mortgage repayments are one of the biggest financial commitments in many peoples' lives but, as our research shows, unfortunately it is not something that enough mortgage holders have taken steps to protect."

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Lord Lloyd-Webber fears for the loss of heritage and English countryside....

Lord Lloyd-Webber has expressed his fears for our beautiful British countryside suffering a similar fate to the countryside in Southern Ireland and becoming a victim of uncontrolled planning.

He stated that, “The English Countryside is pretty much at saturation point now in development terms. If you want a reasonable tourism you have to have something for tourists to see – to attract them. They are not going to want to to see a whole load of semi-detached buildings or bungalows – which is what you get in Ireland,”

The new plans that are currently being considered by the Government involve reforms to the current planning system which could make it easier to build on the countryside.

The National Planning Policy Framework (NPPF) would introduce a presumption in favour of “sustainable development” and remove the presumption that ‘brown field sites’ should be built on first.



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Friday, 4 November 2011

Shelter estimates 35,000 could lose their homes in run up to Christmas!!!

According to the homelessness charity Shelter, in the run up to Christmas one Briton every two minutes (roughly 35,000) faces losing their home due rent being in arrears or to falling behind on mortgage repayments.

Shelter has stated that between now and the Christmas Day, 630 people per day will receive a letter that will treaten the loss of their home, either due to repossession, landlords selling their properties, sun-standard housing conditions or rent increases.

This research implies that of the stress caused by threat of homelessness is directly related to stress related illness. Of those who have experiences a threat of homelessness, 61% endured a stress related illness, while 70% claimed that it was a constant worry and was always at the forefront of their mind.

Not only that, but those when asked to rank their primary stress-causing worries in a graduating order, they placed the stress caused by a threat of homelessness as higher than being assulted, burgles and even a battle of custody for their children!!

 

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Taxman comes down hard on overseas property-owners!!!

A new HM Revenue & Customs unit has been set up to tackle 'affluent' people who have been avoiding the taxman for a number of years. The Britons who are wealthy enough to possess land or properties abrouad are among the first to be hit by this new unit.

The unit is made up of a team of over 200 specialists and investigators who have been given the task of locating wealthy individuals who have been and continue to evade and avoid duties and taxes.

Some of the first to be 'put under the microscope' are those who own properties abroad, following those will be the UK-based comodity traders who have come under scrutiny for helping to drive up food prices by anti-poverty campaigners. Next in the firing line will be those living in the UK who hold offshore bank accounts.
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Wednesday, 2 November 2011

"The murky world of estate agent fees"


The partners will share a bonus pot of £73m after the firm reported profits up by 10% in the year to March. Knight Frank no longer discloses how many partners it has, although in 2010 the bonuses were reported to be worth £600,000 a head.
It comes at a time when the number of properties sold in the UK is running at less than half the peak level in 2007; when properties are taking longer and longer to sell; and when first timers are being squeezed out of the market by landlords. The average flat in London now goes for £237,000 in a city where average wages are a fraction of that. As campaigners at PricedOut point out, that means a deposit in the region of £25,000 and a mortgage of about six times a typical London salary. Little wonder so few young adults are getting on the property ladder.
But Knight Frank doesn't sell the type of property you and I live in. Along with Savills it is an agent to the rich, marketing the likes of this £75m 12-bed pad in Holland Park. Property experts are fond of saying there are thousands of mini-property markets across the UK, but in reality there now seem to be just two: London, and the rest of the country.
One of the odder features of the capital's property market is that some agents have been raising their fees since the onset of the financial crisis. Foxtons won't negotiate below 2.5%. The likes of Knight Frank and Savills don't disclose their fees, but it is likely to be close to that, or more. ....."
Posted by Simon Bayliss. at Thursday, October 27, 2011 at oxfordhomesdirect.blogspot.com

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Increasing debt is decreasing younger generations chances of owning their own home!!!


According to one of the leading debt counseling charities, debt problems at a young age, such as the debt incurred by University fees, are becoming increasingly likely to inhibit the younger generations of Britons to be able to purchase their own homes, as well as other assets like their parents and grandparents were able to do at the same respective age.

The report by the Consumer Counselling Credit Service has predicted a less than bright future a large percentage of those under the age of forty as real incomes decline, debts continue to increase and saving for retirement turns into more of a dream than a reality.

However, while the research for the charity showed that debt levels tend to peak when people are aged around 35-45years old, they found that over 1m households in the UK where those inhabiting the property are aged between 18 and 39 are already struggling financially. This research then indicates that another 893,000 are at risk of struggling with financial issues..

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