Richard Blanco

I’ve found a property I really like.  The figures really stack up and if I could get the funding I could make the deal happen.  But there’s just one problem – it has been underpinned.  That’s right it doesn’t have subsidence.  It did have it, but it’s been sorted out, it’s been underpinned so that’s ok now isn’t it?  No!  It’s the kiss of death.
Why you might think?  Well it’s all down to the great almighty all powerful valuer.  If he/she says that […]

I had a surprisingly fun sunny Saturday afternoon looking at auction properties this weekend.  Subsidence cracks has been the theme of the week.  You know what they say, if it’s gone to auction “there must be trouble.”
The first property I saw was a two bed terrace whose garden wall backed onto a cemetery.  A young couple and their two children who were living there kindly let me in to have look around.   It was extraordinary opening the bathroom window at the rear of the […]

Some lenders are adopting draconian attitudes towards interest only mortgages.  Last month, Santander announced that it was cutting the maximum loan to value it will lend on an interest only basis from 75% to 50%.  This week, Nationwide and Coventry Building Societies have followed suit, cutting their interest only limits to 50%.  New FSA guidance will require greater scrutiny of repayment vehicles such as ISAs and endowments where an interest only mortgage is in place.   It is thought […]