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  • Where Do We Buy Property?

    People often ask us where exactly do we buy properties. Well following recent expansion and increasing demand for our services, we now buy in every borough in London.

    The majority of our activity is within zones 1, 2, 3 & 4 on the London Underground tube map; though we are increasingly helping people sell property quickly in zones 5 & 6. Please bear in mind that the map on the ‘Where We Buy’ section of this website is currently being updated to reflect this.

    However, feel free to take a look to see graphically what our main areas of focus are. Although we are specialists in the boroughs highlighted, we give cash for homes in any London borough.

    The London Property Buyers are London’s no.1 homebuyer. So call us now on: 0800 879 9889 to find out how best we can help you sell your property today.

    Below is a list of the areas we most commonly buy in:

    • Barnet – including Finchley, East Finchley, Finchley Central, Church End, Fortis Green, Hampstead Garden Suburb, Finsbury Park and Manor House, New Southgate, Friern Barnet, North Finchley, Woodside Park
    • Brent – including Brondesbury, Brondesbury Park, Kensal Rise, Kilburn, Queens Park, Kinsbury, Dollis Hill, Neasden, Church End, Kensal Green, Park Royal and Willesden
    • Camden – including Hampstead, Swiss Cottage, Belsize Park, Primrose Hill, Kentish Town, Chalk Farm, Dartmouth Park, Gospel Oak, West Hampstead, Hampstead Heath, Fortune Green, South Hampstead, St John’s Wood, Kings Cross St Pancras, Bloomsbury and Russell Square, Somers Town, Fitzrovia

    • City of London – including Barbican, Tower Bridge, Whitechapel and Wapping
    • City of Westminster - including Camden Town, Euston, Regent’s Park, Lisson Grove, Marylebone, Baker Street, Kilburn, Soho, Edgware Road, Mayfair, Paddington, Lancaster Gate, Bayswater, Queensway, Notting Hill, Maida Vale, Warwick Avenue, Maida Hill, Little Venice, Victoria, Westminster and Pimlico
    • Hackney - including Shoreditch and Hoxton, Stoke Newington, Dalston,
    • Haringey – including Finsbury Park, Manor House, Highgate, Holloway and Caledonian Road, Stroud Green, Hornsey, Crouch End, Muswell Hill, Bounds Green, Seven Sisters

    • Islington – including Islington, Angel, Barnsbury, Canonbury, Highbury, Holloway, Upper Holloway, Caledonian Road, Archway, Tufnell Park, Old Street, Clerkenwell, Farringdon, Finsbury, Pentonville, De Beauvoir, Hoxton
    • Kensington and Chelsea – including Kensington, South Kensington, Earls Court, Gloucester Road, Knightsbridge and Hammersmith, Holland Park
    • Newham – East Ham, Beckton, Upton Park, Manor Park, Little Ilford, Plaistow, West Ham, Stradford, North Woolwich, Canning Town, Custom House,
    • Southwark – East Dulwich,
    • Tower Hamlets - Whitchapel, Spitalfields, Shadwell, Mile End, Wapping, Bethnal Green, Bow, Poplar, Isle of Dogs, Limehouse, Canary Wharf, Blackwall

    If you are selling your home anywhere in London, contact us now for a quick sale today!

  • How to Avoid Negative Equity and What To Do If You Are Already In It.

    What is negative equity?

    Negative equity occurs when the value of your property is less than the value of your mortgage.

    If there is a significant decrease in the market value of your property, negative equity may result. This is particularly the case if your mortgage is a large proportion of your property’s value. To reduce the risk of negative equity put a larger deposit into the property so that your mortgage is smaller (and so that you can obtain a better borrowing rate).

    Be aware of property market conditions?

    Obviously, it is not always easy to obtain a large deposit, so it is also important to be aware of market conditions when buying. If you bought a property at the peak of the market when the housing bubble burst, the value of your property may well have fallen significantly since, possibly resulting in negative equity. Timing is critical in any market and the housing market is no different. Hence, if you are considering buying a property you should conduct research to assess the trends in local, regional and national house prices.

    What happened to cause negative equity?

    Unfortunately, the housing market is difficult to predict, even for the experts. Few people predicted the US sub-prime crisis and the credit crunch, global recession and housing market crash which consequently followed.

    The UK was not immune from the dodgy lending practices occurring in the US. UK banks practice of lending to people, who they knew were at a high risk of not being able to pay their mortgage, combined with the decline in house prices, led to negative equity affecting around 2m UK households in 2009.

    Financial Services Authority (FSA), The Council of Mortgage Lenders (CML) & Experian credit ratings agency - research on Negative Equity facts and figures

    According to The Financial Services Authority (FSA) in March 2010 there are 500,000 buy-to-let investors and two million homeowners who are in negative equity.

    As a result half of buy-to-let borrowers and one in four homeowners with mortgages are unable to sell their properties or even remortgage until property prices rise again. These figures are unlikely to decrease significantly since – unemployment is still high and the economic recovery is weak.

    The worst prediction is by research company GfK NOP, which believes that 3.8 million borrowers are in negative equity, also a further 1.2 million people will be in the danger zone this year. That's a total of 5 million mortgage borrowers.

    The Council of Mortgage Lenders (CML) suggests the following:

    • An extra 600,000 UK mortgage holders now have less than only 5% equity in their homes.

    • Also a further 500,000 UK mortgage holders now have only 5% to10% equity in their homes.

    In total, around 2 million mortgage borrowers could not raise 10% deposit from the equity in their house if they wanted to sell.

    Recent research carried out by credit ratings agency Experian shows the highest risk of negative equity in England is in the Calderwood Street postal area in Woolwich, London! Where the average mortgage is 91.1 per cent of the property value.

    Within the next 18 months the Financial Services Authority, has issued a warning that more than a million families are now in danger of losing their homes.

    Is negative equity a problem?

    Negative equity is only a problem if you need to sell your property. So the problem is not negative equity - the real problem is divorce, job loss or ill health, these are the main reasons why people need to sell unexpectedly.

    Call your lender urgently

    If you are having trouble with your mortgage repayments and can no longer afford to pay your monthly mortgage payments you should talk to your lender as soon as possible, urge debt advisers.

    Some lenders may allow you to change your mortgage payments to interest only, which lowers your monthly costs. You may find it useful to also talk to your local authority housing department or housing association.

    Of course, you may be able to hang in there – your financial situation may improve and the value of your property may bounce back. However, the housing market is predicted to remain depressed for a long time, so you shouldn’t feel too confident about your property value increasing significantly.

    Negative equity mortgages are available through certain lenders – they allow people to move home despite being in negative equity on their current home. However, the borrowing rates tend to be so high that your debt problems are likely to worsen dramatically.

    Because banks are now tightening their lending criteria, this means that many people cannot switch to another cheap mortgage deal when their fixed-rate term runs out.

    So as a result many people ask The London Property Buyers “how do I get 100% market value for my house?” Well that’s a good question to ask because our service helps many people who want to sell their property fast for the full outstanding mortgage value. So even if your home is in negative equity we can buy it today!

    I'm in negative equity - get me out of here!

    So, how can you sell your negative equity property for the full value and not lose any money?

    If you are in negative equity your property may be referred to as being “underwater”. We can help you reach the surface and relieve the stress by making you a guaranteed cash offer for your home today.

    Even estate agents can’t help you sell your house if you are in negative equity, because your bank will not allow you to sell your property for less than the outstanding mortgage amount.

    If you are in negative equity, and you don’t keep up your mortgage payments you are at risk of your property being repossessed. If this happens and your property is then sold at auction usually for less than your mortgage, then you are still liable for the outstanding amount you owe the bank, which you must pay back even if you are declared bankrupt!

    Whatever your situation maybe The London Property Buyers are confident that we can help you today, because we have helped many people just like you sell their negative equity property quickly (for the full mortgage value). So call us now on: 0800 879 9889.

  • The London Property Buyers launch brand new website

    The London Property Buyers has this week unveiled a brand new and pioneering website.

    The new site designed and developed by award-winning digital agency Cyber-Duck has been designed to maximise customer usability and is a much needed improvement on the old website. The clean and clear interface ensures that users can easily navigate through the site, finding the information they want, when they want.

    The website bares many new features including a ‘valuation calculator,’ which allows the user to compare the amount they would get for their home if they sold it to London Property Buyers as opposed to via an estate agent.

    Another great feature of the new site is that the form on the home page allows the customer to fill out an enquiry form within seconds and then The London Property Buyers will call them back to discuss it further.

    The London Property Buyers is expecting to continue enhancing their website with new interactive functionality and further informative content. Users are encouraged to contact info@thelondonpropertybuyers.co.uk should they have suggestions to further improve the site.