London

 

Photo source: Geograph http://bit.ly/2BYpnxr

  • South Woodford lies in the north-east corner of London, minutes away from the border of Essex. In fact Woodford and Woodford Green are both located in Essex.
  • E18 is leafy and suburban; it’s popular with commuters who love the convenience of being less than 30 minutes away from the West End.
  • The high street contains your usual, basic convenience chain stores but is broken up by boutiques, gastro pubs and a local cinema.
  • If you like weekend walks, then this is the place for you, as Epping Forest is on the borders of this area.
  • The area is reasonably small and quiet, but with that comes a sense of living in safe surroundings.

South Woodford’s retail and business area is centred on George Lane, the location of South Woodford tube station, and Woodford Green High Road. There are several leading chain store shops, such as Sainsbury, Marks & Spencer, Waitrose and Boots and a number of smaller shops, restaurants and cafes. There is a crown post office and Royal Mail sorting office.

There is a seven screen Odeon cinema, which opened in 1934 as a Majestic and is the only cinema in the area. As of November 2017, its freehold is for sale. Next door, The George pub, an 18th-century building on the site of an earlier inn, was originally a stopping point for stagecoaches, with several bars. The George once had a fine dining area on the first floor and then later a pizzeria in the basement, with a large spiral staircase between the floors. Other amenities include a number of green areas, many of which form part of Epping Forest.

There are numerous churches and chapels representing various Christian denominations, several synagogues and a mosque.

The area is served by South Woodford tube station in Travel card Zone 4 on the Central line of the London Underground.

South Woodford has a good selection of schools including Nightingale Primary, Snaresbrook Primary, Churchfields which has a junior and infant department, as well as Oakdale. There is also Snaresbrook Preparatory, St Josephs’ Convent voluntary maintained school, and Woodbridge Secondary School.

Forest School is an independent school, within close proximity to South Woodford, in that the playing fields are arguably in South Woodford.

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Photo source: Business Insider http://read.bi/2ipsgP4

Traffic is an important criteria when choosing a place to live. Spending lots of time in the car or other means of transport will cause a lot of frustration for the inhabitants. 

Latest studies upon the traffic in some of the worlds metropolises show that people have to face a lot of hustle to travel from one place to another.

A top was made by the mapping company TomTom with the worst cities to live in because of the traffic. Two entries of the 13 cities that ranked in this top are from England. London and Manchester are the places with the worst traffic in the UK.

The entire top was detailed and explained in this article on Business Insider:

The 13 European cities with the worst traffic

However, some big cities municipalities invested in programs for eliminating traffic jams and hot-spots and it seems to be working out. One example is actually London that made some improvements from one year to another.

Ranking number one in what stressful traffic is Bucharest, Romania – one of the smallest cities on the list, actually.

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The UK property market does not seem to have a clear path for its development and will be easily influenced by a lot of factors (stamp duty, Brexit). It is hard for anyone trying to draw conclusions and anticipate the future of the sales and lettings market in England.

However, this week we found a couple of information that can form a image of how the United Kingdom’s property market looks now and a bit about how it will look in the future.

Photo source: http://www.propertyreporter.co.uk/property/what-if-the-population-of-the-uk-lived-on-one-street.html

First of all, we have the current image of the typical English street. It is formed mainly of semi-detached houses (32%), detached houses (25%), terraces (26%), and flats (14%). We can anticipate that these structures of houses will be those used for future developments.

Secondly, we know that England tops as one of the most peaceful country around the globe. This should be an important criteria for students, investors and anybody else looking to relocate.

Photo source: http://www.propertywire.com/news/uk/biggest-build-rent-development-uk-gets-65-million-government-boost

When it comes to how the country will look in a couple of years, we now have some idea of the projects that will change the entire property market. One example are the recently financed by the Government Build-to-Rent developments that are supposed to create over one million new homes in the future years.

These are some main factors to influence the future of the UK. Keep them in mind when making any decisions in the real estate field.

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England ranks ‘high’ on the peace map of the world.

Vision of Humanity released the new map of the most dangerous countries in the world. Luckily, the UK is at the other end, being ranked as one of the most peaceful in the world.

The entire map is based on three main criteria:

  • the level of safety and security in society
  • the extent of domestic and international conflict
  • the degree of militarization.

United Kingdom is on the 122 spot, from 163 countries in the analysis, far away from the top 20 most dangerous. More details in the article on Atlas and Boots.

 

Source of photo: Vision of Humanity.

Sources:

Most dangerous countries in the world 2017 – ranked

Global Peace Index

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The mortgage market is in continuous move and it can affect you as well.

If you’re one of those shopping for a house soon and you are considering a mortgage, you should carefully analyse a couple of factors before making a decision. The location, the time you are going to spend in your new home (if it is temporary or, hopefully, for the rest of your life), the purpose of the investment (for your own living or if it is a buy to let), and other life circumstances should be considered when choosing a type of mortgage.

However, even with all these cleared up, there is still one more factor that might influence your decision. The mortgage market is in continuous move and it can affect you as well.

The analysis after the first quarter of 2017 proves that some types of mortgages are increasing, while other products for loans are remaining unchanged. For example, the number of contracted mortgages rose in the first three months. These are bank products offered for self-employed people, people with complex incomes or other underserved segments of the buyers’ market. Looking closely upon the offer of bank products, you may see that banks will speculate this moment and will come with new and improved offers. You will just have to pick the most advantageous for you.

The mortgage market also seems to be improving since the number of completed applications  for first time buyers is rising. 67% of first time mortgage applications were completed in the first quarter of 2017, up substantially from 48% in the same period of 2016. Intermediaries have eased up the applications because of the struggle to obtain a mortgage that was intensely publicised last year.

And one of the most important news that the mortgage market received at the beginning of this month is that the lending rates reached their lowest point. The figures from the Bank of England showed that this year’s borrowers received the lowest mortgage rates ever.

These effects are sometimes connected and influence one another, but paying enough attention to the movements of the market might pay off eventually.

Sources:

http://www.propertywire.com/news/uk/brokers-see-demand-specialist-mortgages-less-buy-let-forecast/

http://www.propertywire.com/news/uk/uk-mortgage-applications-intermediaries-successful-year-ago/

http://www.propertywire.com/news/uk/mortgage-lending-rates-uk-reaching-lowest-rates-ever/

 

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Buying a home for the first time is one of the biggest decisions you will make.

You will need to choose what mortgage company is best for you and what kind of deposit you will need to have. There are quite a few choices out there now though that can help you.

Here is a list of things you should look into:

  • How much can you borrow?

Before you jump in and start looking for your home, check your credit and speak to a mortgage adviser to find out how much you may be able to borrow and if you can afford the monthly payments. Don’t forget to put some money aside for legal fees to. Always ask your lender if they cover mortgages above a commercial property as some lender may not.

  • Decide what you’re looking for and where

Once you have either got a mortgage agreement in place or you know what you are able to borrow then you can start looking into what type of property you are looking for, how many bedrooms, is a garden important to you and how far is the transport. When looking at a area check what

  • Start house hunting

When looking for a property the first step is to look on your local estate agent’s website. You may look at quite a few places before you find the right property for you. When you see a property that you want to view, look around for any signs of dump, is the building structure sound, how old is the roof, how much storage space.

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The first 100 residents move in to the first set of glamorous flats as the huge £9bn development starts to rise at the south London landmark.

A few celebrities and 1,400 Apple office workers will soon be living and working next to each other at Battersea Power Station.

This project to refurbish the Grade II Listed building cost a staggering £9bn which is more than it cost to build the stadiums as well as staging the 2012 London Olympics. This building is the centrepiece of many developments of offices and apartment towers on the south bank of the Thames.

The development has been under construction for four years and has now started to take shape and the first 100 residents have moved in to a lavish apartment. After 90 years, the power station’s riverfront, with a new piazza and parkland is now accessible to everyone.

The power plant will not be opening its doors to the public for shopping and leisure until the new tube station, called Battersea Power station, comes online which will be in 2020. This station will allow residents to get to the City within 15 minutes.

A glass lift will also be built to take visitors to a viewing platform on top of the power station’s landmark white chimneys, where they will have extensive views across the river from a height of more than 100m.

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Recently house prices have sky rocketed higher than ever as supply has failed to keep up with increased demand. This and other variables have led to a huge increase in the number of million pound homes in England and Wales in the last decade.

The latest research from Lloyds Private Banking has revealed that the number of million pound apartment sales has grown by 196% since 2006, up from 1,002 sales to 2,967 in 2016. Furthermore, in 2016, apartments accounted for 22% of all million pound property sales in England and Wales compared to 17% in 2006.

As you might expect, the vast majority of million pound plus apartments are found in London, with a huge 96% of sales made in the capital. The number of apartment sales in London has also increased considerably in the last decade rising by 196% since 2006, up from 973 to 2,853. This has coincided with a big increase in the number of luxury apartments and penthouses popping up across the capital and a rise in overseas investment from wealthy foreign buyers, as London has become one of the go-to property capitals of the world.

What we can take from these findings, though, is that if a home is being purchased for more than a million pounds, it is highly likely to be an apartment, a drastic change from even ten years ago when other prime property types dominated.

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As house prices are increasing, first time buyers are struggling to save a deposit that qualifies for a mortgage loan.  They have no choice but to rely on their Mum and Dad or family members to assist with finance and help them get on the property ladder.

New research shows that this year alone, parents are expected to lend £6.5 billion, contributing to more than 298,000 mortgages and accounting for 26% of all property transactions. Compared to 2016 this is a 30% increase.

In the past, owning your own home as a young adult wasn’t the struggle it appears to be now. There was a time when they could buy a family home for a realistic amount that was reasonable to salaries, at least in comparison to today’s prices.

The average of borrowing from the bank of mum and dad in the country stands at £21,600, with London being much higher at £29,400. Of those buyers that receive help from their family and friends, 57% receive it in the form of a gift, 18% were given it as a loan with no interest and 5% as a loan with interest. Research also found that 19% admit that their parents also help them to carry out DIY.

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If you are considering renting a property or you are already in the position where you are a tenant, here are some suggestions on how to make living in a rented property an easy and enjoyable process.

Get Tenants insurance. Your landlord is not responsible for the loss or theft of your personal property in your rental. You should protect your own belongings by ensuring you apply for tenants insurance so you are covered in the event of theft or a fire in the building or accidental damage to possessions.

Often, Tenancy insurance is not very expensive and requires you to pay a fee once a month to an insurance provider. Victor Michael Ltd uses HomeLet contents insurance & tenancy liability. Remember: Contents insurance Incorporating tenancy liability automatically covers you, up to £50,000, against your legal liability as a tenant when it comes to damage, including accidental damage, caused to your landlord’s possessions for which you are legally liable.

Treat the property as if it’s your own.  Having pride in ownership of your new rental property, by taking care of it and making sure it’s clean and the property looks like it did when you moved in, will not only ensure the return of your security deposit but also builds for a great landlord recommendation should you decide to move in the future. Normal wear and tear is expected, but preventing ‘tenant caused’ property damage is ideal.

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