MORTGAGE PRODUCT OF THE WEEK

Author: JoeOT - Date: 14th July 2015

Development Finance:-

Do you know we can arrange Development Finance?

Know any developers requiring Development Finance?

Loans available from £500,000 - £15,000,000

Up to 60% of GDV (Gross Development Value) PLUS 100% of construction costs

2% arrangement fee

1% exit fee of GDV

Terms up to 18 months

MUST have a track record

Exit route can be sale of development or we can re-finance on to a Commercial Mortgage

Also:-

Bridging Loans available from 0.59%pm

NO maximum loan

2% arrangement fee

NO exit fees


Mortgage Product of the Week

Author: JoeOT - Date: 23rd June 2015

80% Buy to Let:-

Precise Mortgages

Lifetime Tracker

4.51%

 

USP’s:-

No minimum income requirements (clients have to be earning but no minimum)

Rental income is calculated on pay rate (ie 4.51%) NOT nominal 5% as per other lenders (meaning case may fit on lower rental yields)

Will lend on ex-local authority flats up to 15 storeys


Primrose Hill Festival- Sunday 17th May 2015- 11am to 5pm

Author: JoeOT - Date: 11th May 2015

Primrose hill 73

Sunday 17th May 2015

11am – 5pm

 

The colourful and lively Primrose Hill Festival will take place again right up our street! So, if you live near Primrose Hill or will be in the area be sure to come to the biggest NW1 event. The event takes place on Regents Park Road on Sunday 17th May 2015 from 11am to 5pm.

The festival will include local businesses in and around Primrose Hill and as always, the organisers are planning lots of fun games to suit the whole family. Oliver’s Estate Agents look forward to some delicious home-made food, locally made crafts, second hand book stalls and children’s entertainment.

 

Come along to Oliver’s stall where the children can take home a free balloon and be creative with edible sherbet sand. There will also be a raffle with prizes including an iPad, a bicycle and a Carluccio’s food hamper by simply inviting us to give you a free sales or lettings market appraisal of your home from any of our three local offices in Primrose Hill, Hampstead and Kentish Town.

 

For more information please call Oliver’s Estate Agents on 020 7722 5054.


Red vs Blue - which party will make Londoners most house-proud?

Author: JoeOT - Date: 7th May 2015

Housing is a key concern for Londoners. Which party is taking a stand?

The YouSpotProperty.com founders examine the evidence Ask your average Londoner what the biggest single pre-election issue they want tackled is. Bet you, it’s not immigration, fracking, or even education. It’s affordable housing. This issue stands out like a sore thumb. Thirty years ago, one third of under 24-year-olds could afford their own home. Nationally, and particularly in London that’s wishful thinking by today’s standards. What makes the problem worse is that there are fewer new homes under construction nationally – only 100 000 per year - which is the lowest rate for almost a century. The demand for new homes and the ongoing lack of social housing has pumped London’s private rental market. Great news for landlords, but a costly blow for social housing benefit recipients. Of our two main political parties, whose housing election manifestos might make a difference to Londoners?

Labour

Cons: Labour’s latest housing pledge is to scrap stamp duty for properties under £300k. With the average house cost around London and the South East at around £330,000 this policy’s benefit will have negligible benefits in the capital where there is a tiny selection of housing stock for under this threshold. And then there’s Labour’s controversial mansion tax, whereby houses valued over £2m would be taxed 1% annually. Yes, this benefits other parts of the country as it goes into a national housing pot, but we know London’s bustling economy is driven by what goes on at the top end of the market. If this slows down, it’s a double-edged sword for the economy and country as a whole. From an empty home perspective we’re all too familiar with many large wrecks of homes which might be worth £2m as they are simply located in an area of increased value which may stay that way if owners are obliged to pay this Robin Hood-style penalty.

Pros: For all the marginal benefits these two housing measures bring, we also know Labour are willing to tackle a major issue for Londoners. We await the party’s pledges to give private tenants a new raft of rights. This is absolutely crucial for Londoners, and once we know the measures, this could help affordable accommodation more so than long-term housing.

 

Conservatives

Cons: The Conservatives ‘right to buy’ for housing association tenants detracts from alleviating the ever-increasing waiting list for social housing in the capital. The priority is wrong. The government needs to prioritise housing needs before incentivising those benefiting from existing secure tenancy. This policy inflames the need for social housing and we may see councils part with their most valuable properties. This removes London’s diversity if affluent areas cannot accommodate a balanced sample of the nation.

Pros: In the last budget the new lower stamp duty threshold made a difference to Londoners. At the lower end of the spectrum it became advantageous and at the higher end of the market it is more costly, but this represents a system which is better aligned, comparatively, to all other taxation policies.

Do our empty homes have a role to play?

London has 22,000 long-term empty properties out of England’s 660,000 and there are no robust plans, from any of the political parties, to tackle the issue. The government’s only measures on this front, which is to grant small incentives of up to £25,000, is of negligible benefit when complete renovation is required to get these houses to habitable status. If councils had the support of the government, whereby significant funds could be allocated to help develop otherwise uninhabitable or long-term empty homes, it would ease the waiting list for social housing and would improve many neighbourhoods around the capital, avoiding majorly disruptive building projects. The stark reality in London, is that many of its properties have been earning more than their inhabitants. There is no silver bullet solution for a city which contributes to the UK being a world economic power and a country which has emerged from the financial crises better than most. Finding the right balance to be fair to aspiring homeowners around the UK, and to Londoners, is difficult. Our message is for all the parties to unite in their commitment to build, relax red tape around planning permission, and from our perspective, instill robust plans for dealing with our empty homes crisis.


The transformation of Archway: why this north London suburb is set to soar

Author: JoeOT - Date: 7th May 2015

620-archway publicrea House prices in Archway are a comparative steal compared to its north London neighbours. But plans to replace a gyratory system with two-way traffic, cycle lanes and a central piazza are set to change that... A hideous Seventies gyratory system was the blight that brought down Archway, which can boast nothing more than a line of tatty shops at its heart. But Transport for London is riding in to rip up the hated one-way system and replace it with two-way streets, cycle lanes and a central piazza. Work is expected to start next year and will be completed by 2017. Then Archway can finally blossom. At present, house prices are a comparative steal compared to its neighbours at an average of £622,753, up 7.93 per cent in the past year, according to Zoopla Half a mile up the hill in Highgate, the average house price is £1.32 million, up 9.85 per cent in the past 12 months, while homes in Kentish Town cost an average of £783,948, up 4.8 per cent in the same period. The project is being carried out as part of TfL’s £4 billion road modernisation plan and will also involve improvements to Archway Tube station. Meanwhile, Islington council plans to invest in improving shop fronts in the area. “The Archway gyratory is a notorious, badly designed relic that residents, businesses and road users have long wanted overhauled,” says London Mayor Boris Johnson. Once the gyratory has been swept away, Archway’s fine stock of Victorian terraces will be an attractive buy, says Gary Rosenthal, managing director of estate agent Whitehalls. “It is a mess down there presently. I think this will be an improvement for pedestrians and cyclists,” he adds. “The general perception is that this is an improvement that will make Archway a nicer place to live — and that should impact on house prices.” Adding to the appeal of the area, St Aloysius’ College for boys is rated “outstanding” by Ofsted, while Mount Carmel Catholic College for Girls has a “good” rating. But there could be a fatal flaw in the plans for Archway. Rosenthal fears the new road layout may turn some streets into rat runs, and says the area’s reputation as a rather shabby place to live will be hard to sweep away. He suggests it should follow in the footsteps of Staines, now renamed Staines-upon-Thames, and call itself Whitehall Park in honour of the conservation area close to Highgate, where Archway’s smartest houses and highest prices can be found.

Th secret history of Kentish Town’s piano factories

Author: JoeOT - Date: 7th May 2015

Imperial-works

On the tiny cul-de-sac of Perren Street, just off Prince of Wales Road, stands what was once an important part of the London piano and organ industry. Imperial Works was home to the Imperial Piano and Organ Company, exporting goods around the world. The company was established in 1902 at Mare Street and Ellingford Road, but those Hackney premises were destroyed by fire in February 1919 and Imperial Piano moved to Kentish Town. This is how Camden Council describes the building in its Conservation Area statement: The ‘Imperial Works’, a former organ works in Perren Street, is an attractive late Victorian building, in Gothic style, occupying the north west corner of the street. The façade has three gables with a varied outline, although upper and lower windows are generally aligned. The brick walls are patterned with dark red brick in polychromatic style and the wooden sash single bays and tripartite windows are set under segmental heads with keystone feature, also in dark red brick. Sadly, the dark red bricks have been painted over. Behind Imperial Works runs an alleyway, with steel tracks laid into the cobbles and complete with its own turning circle. Pianos and organs would have been lowered onto trolleys from the works above and rolled along to the northern end, where another alley joins Ryland Road. From there the goods could be transferred to carts or lorries for transport to their final destination. Camden Town established itself as a major piano manufacturing centre in the nineteenth century, drawing industry away from Fitzrovia, because of the ease of transporting timber by canal, rail and road. It was said that every street in north London contained a piano works, and in many parts of Camden this was literally true. Between 1870 and 1914 Camden was the centre of the world’s manufacture of pianos which were sent around the globe. There were around one-hundred in total. None now remain, although Heckscher & Company – which only in recent months moved out of 75 Bayham Street in Camden – has been supplying piano parts since 1883 and still does. The most magnificent piano warehouse is to be seen at 12 Oval Road. It is the circular building constructed for Collard & Collard in 1852. This building replaced a similarly shaped one, which was destroyed by fire a year after it was built. With fifty-two bays, it was built around a central open well, to allow pianos to be hoisted from floor to floor during manufacture. The lowest floor was used for drying, the next for upright pianos, the second floor for cleaning, the third for polishing the cases and those above for ‘belly’ manufacture and finishing off. Collard & Collard were the oldest of the piano manufacturing firms of the St Pancras area, having patented a form of upright ‘square’ piano in 1811. Today their former manufactory houses offices.


Iconic Kentish Town clothes shop Blustons to close after more than 80 years

Author: JoeOT - Date: 7th May 2015

Image An iconic women’s clothes shop that has been serving customers for more than 80 years is set to close. Blustons in Kentish Town will shut its doors in the next six weeks having been run by the same family since 1931. Now coming up to retirement he is now closing the shop. He told the Ham&High: “My wife has been nagging me for a few years to retire and my children are doing other things so can’t take over the business. We’ll have a final closing down sale and will probably shut within six weeks. “I’ve been working here since I was 16, six days a week. It’s an end of an era and I will certainly miss it – it has become my life. “For my retirement, I will look into doing a bit of charity work and will spend more time with my grandchildren, wife and family. “I would like to thank all our customers and clients for their continued support and we wish them the best for the future.” The family-run business has become known for the classic styles it sold and built up a catalogue of frequent clients. Despite fashion changing over the decades, the women’s clothes shop has stayed true to its own style for more than 80 years. It was opened by Jane and Samuel Bluston who were sent to London from Russia by their parents.

Telford Homes’ first residential development in Kentish Town, The Town Apartments, NW5

Author: JoeOT - Date: 13th February 2015

Cgi of the town apartments by telford homes plc

London House Prices, the latest stats and research

Author: Admin - Date: 16th July 2014

Olivers sales kentish town prince of wales road reception

Annual London house price inflation hit 20.1% in May 2014, according to the Office for National Statistics (ONS).
But, excluding London and the South East, prices rose by a much more modest 6.4% across the UK.  In England, prices rose by 11%, in Wales prices were up by 6.5%, and in Scotland they rose by 3.6%.
According to the ONS index, the average price of a house across the UK is now £262,000.
At the same time a research by Experian claims that the number of homes entering the market at above £500,000 rose by almost 30 per cent in the UK and 50 per cent in London in the last 12 months.


To find out what’s available to buy in Camden and surrounding areas (NW1, NW3, NW5, N7 & N19) covered by Oliver’s Sales contact our team : info@oliverstown.com or call us on 020 7284 1222 for the most recent sales list.


UK Housing News

Author: Admin - Date: 11th July 2014

Olivers estate agents sales arlington road nw1

Britain’s house price boom slowed down in June but mortgage lending growth is still firm despite new regulations - according to fresh industry comments published this week.
According to the latest from Halifax, the UK's largest provider of residential mortgages and savings accounts,  prices jumped 8.8 per cent across the country in the 12 months to June.  However, in June alone prices slid 0.6 per cent.
The RICS (Royal Institution of Chartered Surveyors) said that the London house prices rose in May but at the lowest level recorded since March 2013, adding that “the edge has been taken off the booming market as demand growth slows down.  The new buyer enquiries are up by eight per cent in the month, the slowest rate in 18 months which could point at the limits of buyers’ resources”.  The RICS is also reporting a fresh surge in buyers taking out big loans. It recorded 10,898 mortgages where the deposit was worth less than 15 per cent of the house price, a jump of 52 per cent on the year.  The RICS is finding that the number of the riskier loans is to its highest level since April 2008.  As a result, one-fifth of house purchases in the month used a high loan-to-value (LTV) mortgage.

For the latest sales houses, apartments and flats available to buy via Oliver's Estate Agents please call us on: 020 7284 1222 or email info@oliverstown.com.


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