ITV are looking for landlords who have invested in property as a way of obtaining a pension. They are looking for guests to interview couples in their mid 50s who are choosing to put their money in property rather than pension companies, banks or stock market.
The programme will be aired in a few weeks and guess what: interest in property will grow even more!
Did you watch Property Watch last night? If there was an advert for property then that was a one hour long infomercial which we paid for!
They stated that we are at stale mate on prices but buyers are back except they simply cannot raise the deposit.
I did a bit of research on first time buyer mortgages and you can get 90% LTV residential mortgages from one of the high street banks which is at 5.99% fixed for 5 years and NO ARRANGEMENT FEE! If that is not reminiscent of a mortgage from 2007 then I do not know what is!
Just watching Sky News as I am writing this article and Barratt Homes have said reservations on their new builds are up 4.4%. I wonder who is buying? Is it the investors or first time buyers?
I think the press have turned now. They think it is good to report Boom & Boom rather than Doom & Gloom. They are just waiting for the stats to catch up now. Official price data from Land Registry will be out in August which will still show negative growth I think but in November it will be a different story.
By that time Nationwide and Halifax would have reported concurrent price rises for each month and then the banks will be back to their 95% mortgages and then the full circle will be complete when the Daily Express run the front page with:
That day will come. It will be available for qualified solicitors doctors and accountants who have the guarantee of mum and dad but nevertheless it will be a 100% mortgage.
So lets watch the property recovery unfold. Property Watch is on BBC2 tonight at 8pm so do not miss it.
PS the results are in for the Ambition Poll
Posted on: 13th May 2009