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5 tips on how to stay on top of your finance & mortgage

Knowledge is power – People are living increasingly hectic lifestyles and this lack of spare time means many mortgage-holders put reviewing their finances and mortgage. Keeping on top of your money matters should be a priority and doesn’t necessarily have to be a laborious, time consuming task. And, the reality is that circumstances change – interest rates fluctuate, commodity prices fluctuates, our personal situations change, such as jobs and family affairs – so being equipped with knowledge about the health of your finances and planning ahead is a necessity to overcome most financial challenges in life.

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How to review your finance and mortgage

  1. Check your current statement(s) – to see what you’re paying, when any special deal or contract ends, what happens at the end of your deal or contract and the balance left to pay.
  2. Check if you’re still on a good deal – compare like for like current market deals or contracts.
  3. Check if and when you can switch – to get a better deal if available.  It makes sense to start shopping around a few months before any special deals ends. Switching can cut down your monthly payments but you’ll need to weigh up theses monthly savings or other benefits against the costs of making the switch.
  4. Make a list of all your incomes and expenses – prioritise your mandatory expenses and work on maximising your disposable income by reducing where necessary your lifestyle expenses.
  5. Make saving a habit – save as much as you can not just money but energy and the environment. Remember the saying ‘if you fail to plan, you have already plan to fail’.

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Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

HMRC: UK residential property transactions rise by over 6%

The number of residential property transactions rose by 6.2% from November to December, HMRC’s Property Transactions Statistics have shown.

There were 104,670 residential property transactions last month which is up 6.8% year-on-year.

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Similarly, the number of non-residential transactions increased by 13.4% from November and 0.8% from December 2018.

Gareth Lewis, commercial director or property lender MT Finance, said: “The back-end of the year saw an increase in activity and purchases after the general election as a lot of transactional flow held off until after the result was known.

“Estate agents and lenders were extremely busy as people were keen to get on with things.

“There is a positivity around transactions and market sentiment that we haven’t seen for a while – maybe we are seeing the green shoots of spring appear a little earlier than usual.”

Source: Mortgage Introducer

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Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

How to identify a cowboy builder

One of the most important decision you are likely to make when undertaking a building project of any size is that of employing the services of a builder or contractor. These decisions can be narrow down by making the right enquiries and only inviting appropriate  builders or contractors to quote in the first place.

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Before making the all-important decision of awarding the contract to a specific builder, it would not be unreasonable to ask to see work on which they are currently engaged. Seeing at first hand how they treat the client’s property and how they work will give you an idea of what to expect if you do decide to employ them. See the source image

Some tell-tale signs of bad building practice and irresponsible behaviours would be:

  • Untidy site
  • materials poorly stacked and unprotected
  • lack of signs generally
  • loud radios
  • poor site facilities
  • workers not wearing Personal Protective Equipment
  • poor standards of work
  • signs of burning material on-site
  • inadequate security, e.g. no fencing (if appropriate).

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Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

BT pension scheme MEPC property developer sold to Hermes

Hermes Investment Management has acquired MEPC, the UK property developer owned by the BT Pension Scheme (BTPS).

Hermes, which was formerly owned by BTPS, and GE Real Estate took MEPC private in 2000 as each acquired 50% of the company. Three years later, Hermes bought GE’s stake.

 

In April 2018, Federated Investors acquired a majority interest in Hermes from BTPS.

Hermes said today it is acquiring MEPC in a deal that “enhances Hermes Real Estate’s proposition by adding specialist asset and development management expertise to its existing capabilities”.

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Chris Taylor, CEO of Hermes Real Estate, said: “There are many synergies between the two brands and an already long-lasting and successful relationship, which can now be built upon further.”

James Dipple, CEO of MEPC, said: “This is an exciting transaction for MEPC, allowing us to combine our long track record of success with a leading real estate investment manager.

“Our strategic ambitions for the future are fully aligned with those of Hermes and, therefore, a strong basis for the growth of MEPC.”

A spokesperson for Hermes and MEPC said: “Having Hermes as MEPC’s parent company provides a long-term basis for its future growth with little disruption to day-to-day business. Certain investments processes are already integrated with those of Hermes.

“This acquisition greatly enhances our real estate proposition by adding specialist asset and development management expertise.

“In particular, it supports our core strategy of creating urban regeneration schemes, which not only deliver attractive financial returns but will have a positive impact on the environment and communities in which they are located – a key market differentiator for the business ahead.”

Source: IPE Real Asset

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Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

UK Property fraudster set to payback £5.3m

Edwin McLaren, of Bridge of Weir, was jailed alongside his wife Lorraine in 2017 for £1.6m fraud scheme.

Prosecutors are seeking more than £5 million from a fraudster who was convicted after Scotland’s longest ever criminal trial.

Edwin McLaren , 54, now faces the prospect of having to hand over more than £5.3 million to the Crown under proceeds of crime legislation.

Prosecutors previously sought £1 million and then £3 million from McLaren, of Bridge of Weir.

But now the Crown has revised the figure being sought from McLaren.

The dad of two, who was jailed alongside his wife Lorraine, accused prosecutors of incompetence during a hearing at the High Court in Edinburgh yesterday.

He said: “The figure has now reached £5 million.

“When I was convicted, it was £1 million.

“Then it was £3 million and it was £3 million a few weeks back.

“It’s now £5 million – the Crown seem to be in disarray.

“The people who are doing this don’t know what they’re doing.”

McLaren was jailed for 11 years in 2017 for his involvement in a £1.6 million property fraud scheme.

He was found guilty of 29 charges after a trial at the High Court in Glasgow that began in September 2015 and heard evidence over 320 days.

His 54-year-old wife Lorraine was found guilty of two charges involving a fraudulent mortgage application on their own home and money laundering involving a sum of £128,000.

During his trial, a court heard how McLaren preyed on vulnerable people by arranging for their title deeds of their homes to be transferred to his associates without the victims’ knowledge.

The estimated cost of the 20-month trial was £7.5 million.

Jurors heard of the couple’s lavish lifestyle which included luxury holidays in Dubai and spending £100,000 on a ring and private schools for their children.

McLaren, who drove a Bentley, was described by trial judge Lord Stewart as showing “breathtaking dishonesty”.

The fraudster left victims out of pocket and in some cases homeless.

At a hearing last month, McLaren told Lord Arthurson that prosecutors were seeking to seize his £800,000 home in Bridge of Weir.

Source: BBC News

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New Year Eve warning by UK police

Police are warning people not to attend New Year celebrations on the River Thames in London without a ticket, as the UK prepares to usher in 2020.

More than 100,000 tickets have been bought for Tuesday night’s sold-out fireworks display.

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The Metropolitan Police urged those without tickets to watch from home or attend other events in the city.

Firework shows are also to be held in cities including Manchester, Cardiff, Newcastle, Inverness and Nottingham.

And in Edinburgh, the streets of Edinburgh are filling up as an estimated 100,000 Hogmanay revellers prepare to welcome in the start of a new decade.

Celebrations began on Monday evening with thousands taking part in a pre-Hogmanay torchlight procession.

In a statement to those visiting London for the celebrations, the Met said it wanted “everyone who comes to London for New Year’s Eve to have a good time”.

However, referencing the fireworks on the Thames, the force added: “If visitors do not have a ticket, entry will not be permitted to the event, so the advice from the Met is to watch the fireworks from the comfort of your home.”

Source: BBC News

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Thinking of buying a property?

Need help with property purchase in the UK from start to finish, Please Contact me

Selling or renting your property in Greater Manchester? Get same day EPC for £45 only

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk