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  • Northumberland | Red Hot Property
    tremendous event last year this year s event is gearing up to be superb The positive feedback from artists and visitors last year has attracted much wider interest and this year s varied menu of talented artists is impressive The performers are available to view in the Artist Profiles section of the events website allenvalleysfolkfestival co uk In order to accommodate all the fresh talent who will be performing another large venue has been introduced the Allendale Primary School and there are now three stages for young musicians the school St Cuthbert s Church Hall and Deneholme The school will also host a traditional family ceilidh on Saturday afternoon Last year s visitors enjoyed fantastic catering provided by the Allendale Bakery Pop up Café The Mill Tandoori Allendale Tea Rooms The Forge Café and the three local pubs The Golden Lion The Allendale Inn and The King s Head These offerings will also be complimented by a hog roast in the village square courtesy of WMH Meats For those living outside the Allen Valleys the festival website provides information on travel and accommodation meaning there really is no excuse to enjoy a unique weekend away To keep up to date with developments simply visit the website or follow The Allen Valley Folk Festival on Facebook and Twitter The weekend begins on October 3rd and continues through the 4th and 5th The ticket office is now open and we hope everyone has a truly Red Hot occasion Hot Topics Red Hot Property Supports The 1st Allen Valleys Folk Festival On Mon 29 09 2014 14 59 Posted In Northumberland Red Hot Property is delighted to provide sponsorship to the 1st Allen Valleys Folk Festival which takes place on the 3rd 4th 5th of October this year The festival is a three

    Original URL path: http://www.redhotproperty.co.uk/tags/northumberland (2016-02-08)
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  • Property Marketing | Red Hot Property
    in mind our objective is simple we aim to leave every client delighted because it brings us further business To make our success your success contact Red Hot Property for your free market appraisal As agents we certainly make the most moves Hot Topics It is Important to Remain Open Minded and View Properties On Mon 16 01 2012 15 05 Posted In Property Marketing Buying Property In a crowded buyers market it may be tempting to hang back and not appear too keen However my advice to buyers is to actually do the opposite Although you do have the upper hand complacency should be avoided if you are to strike the best deal By best deal I not only imply financially but also infer how closely a particular property matches your requirements Because there are so many homes for sale I would recommend that you allocate a healthy amount of time to viewings I strongly believe a property cannot be fairly judged unless it is viewed As an agent I get often get invited to homes that are already on the market with another firm in order to reappraise a sale Often I find that my perceived idea of the property which I had gained from the available marketing literature is not in line with the reality Therefore I would recommend you remain open minded as a buyer and assume the details you are reading may not be allowing you the correct insight With this approach you are likely to view homes that with a normal approach would have been discounted but I bet you will thank me Currently you probably spend your time trawling websites in pursuit of your perfect home With so much choice available your approach may be to quickly narrow this list down to 3 or 4 worthy candidates You then view this handful and settle on the nearest match but is it your perfect home When I visit a clients home to provide a market appraisal I often ask what made you buy or what attracted you to this property A high proportion of these vendors then actually inform me that they had discounted that particular property initially They instead viewed all other available homes only to discover that they were not quite right Then having exhausted all other options they returned to their discounted list as a last resort only to find that their first impressions were indeed wrong When they finally viewed these other properties with an open mind they fell in love and bought Red Hot Property average six viewings per sale each of which last approximately 15 minutes an amazing fact considering a property is usually your largest purchase and most valuable asset Remain open minded with regard to location and view anything that has a basic fit to your budget and criteria Viewings expose greater options Often a property can be adapted reconfigured or even extended but you will never know unless you view Some of the best property developers I know are the most open minded and will view what on paper may seem like a non starter Finally if agents are aware you are viewing lots of homes they will be keen to keep you informed They will also pass this fact on to any vendor who receives your offer which is likely to prompt a considered decision in case they lose you Good luck with your house hunting Hot Topics 10 Crucial Property Selling Tips On Thu 24 11 2011 15 05 Posted In Selling Property Property Marketing The relationship between a vendor and their selling agent is often paramount to the success of a property sale however there are many intricacies that are simply overlooked or forgotten often to the detriment of the sale Having sold a variety of properties in differing market conditions and for a range of clients with very individual needs and circumstances I have shortlisted a handful of tips which although subtle are often crucial for success They go beyond the obvious tips like cleanliness pet issues and unwelcoming smells and are as follows 1 Don t take things personally Selling your home can be a stressful experience A property is often the vendor s largest asset and their proud home Unwinding this home set up to re establish elsewhere can naturally be an emotional and often intrusive upheaval When emotions are high nerves can certainly be jangled particularly if somebody is critical of your most prized possession The key is simply to detach your emotions from the situation Upon point of sale your property ceases to be your home instead becoming a product in which somebody else will establish their home Because everyone s tastes and requirements differ their feedback following a viewing will also vary Remember there will always be more people who view than people who buy 2 Be available and accommodating The economic climate remains challenging for anyone attempting to sell their property There are few ready willing and able buyers Therefore it is crucially important that when a buyer presents themselves you remain available to accommodate and enable the viewing Ensure your phones are kept on are close by and your answer phone messages are checked regularly after all it may be a while before a similar opportunity to sell appears A missed phone call or a knocked back viewing can often be a lost sale 3 Don t pre judge buyers One of the most fatal mistakes when selling is to prejudge a buyer It is a costly pitfall that even the most experienced sales people can make Keep an open mind and an open door policy to buyers including those who don t have their house on the market I have seen many deals result from this type of viewing 4 Take advice carefully We are often reassured by kind advice and well meaning support However advice relating to the sale of your largest asset shouldn t be taken lightly Many decisions are mistakenly

    Original URL path: http://www.redhotproperty.co.uk/tags/property-marketing (2016-02-08)
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  • Selling Property | Red Hot Property
    Topics A busy property market in the first half of 2014 will it continue On Sat 02 08 2014 15 04 Posted In Selling Property Property Market Buying Property The ripple effect has certainly been felt in the first half of 2014 From the very start of this year the pace of activity within the housing market has been notably different to previous years post Northern Rock crash The reality though is that nothing has changed fundamentally in economic terms and all the key factors that have been in place since the crash and throughout the recession periods remain the same The only factor that has improved and perhaps the most critical is simply market confidence or the mood The media hype so far this year has been far more positive and helpful which has brought about greater feelings of optimism and security amongst buyers Talk of price rises has been wide spread and the help to buy scheme has fuelled the critical first time buyer element With this renewed confidence many buyers have also been taking advantage of the extremely low interest rates and securing 3 5 year fixed term mortgages to see themselves through any remaining period of uncertainty Far more buyers have been coming forward viewing making offers and ultimately buying homes Despite the Southern boom however the reality is that prices within the North East have remained stable Because this market is more mortgage dependant prices are more lender controlled and the banks appear reluctant to allow significant rises On a positive note though the increased activity levels have reduced the time taken to agree a sale and indeed the gap between asking and selling prices has closed To date we have recorded 55 of our sales this year at asking price Whilst we have certainly seen more pace to the transaction phase of a purchase the actual processing stage is now frustratingly much slower Lenders are far more pernickety and do scrutinise each and every purchase in an attempt to eliminate risk Anyone wishing to purchase right now should establish their funding early on if they are to avoid disruptive delays So what will happen in the second half of 2014 Well with a positive first half to the year under our belts we are now left to ponder the impact of recent announcements by Mark Carney the Governor of the Bank of England namely He wants to cool the housing market He forewarned us of interest rate rises His messages were not specific and like many other announcements designed to have gradual impact rather than alarm and scare Ultimately he doesn t want to spook the market and cause a crash His problem however is that he is actually targeting the London market which is fuelled by large volumes of cash and can t be controlled by any mortgage valuer We are always the last to benefit from the ripple effect and we are usually the first to feel a slow down My feeling is that we are sitting at a junction in the property market Interest rates are very low and prices have remained stable for some 7 years now Buyers therefore have a choice Buy now and take advantage of the cheap money and accept you may have to jump through hoops to obtain it Hang fire and see what effect on prices if any the Governors cooling strategy has While you make up your mind allow me to add a little perspective Generally moving home is a circumstance driven event and ever changing market forces do usually affect us all simultaneously So with this in mind I suppose ultimately the best time to move is whenever it suits you If that happens to be the second half of 2014 we re here to help and advise you Hot Topics Red Hot Property Becomes A Licenced Member Of The NAEA On Mon 17 03 2014 15 05 Posted In Selling Property Buying Property Gareth Jones owner of Red Hot Property is delighted to have received a licence from the National Association of Estate Agents NAEA for his Hexham office Any NAEA licensed estate agency branch provides consumers with the guarantee that at least one agent within that branch is qualified in residential property sales This qualification requirement is unique to NAEA licensed estate agents the only licence of its kind in the UK property industry At its launch in the House of Commons in November 2011 the licensing scheme was given the backing of Grant Shapps Housing Minister and Shadow Housing Minister Alison Seabeck Peter Bolton King chief executive of the NAEA said I am delighted to confirm that Red Hot Property s Hexham Branch is now fully licensed We would like all sellers and buyers to ask their prospective agents Do you have an NAEA licence If they don t they should ask themselves whether that s the agent from whom they will get the best service when marketing their property No one would knowingly use an unlicensed taxi driver Neither should they use an unlicensed estate agent In a difficult economic time it is important for anyone placing a home on the market to use a professional knowledgeable agent NAEA members know their local area and know their local market That is very important to consumers On receiving his licence Gareth said Being a licenced member of the NAEA adds further credibility to our firm and the practises within it We have operated as the market leader for some five years now within the Tyne valley and the Hexham staff are highly experienced professionals with fantastic market knowledge As award winning agents we continually seek to refine and improve our approach and this platform provides our clients with huge confidence that our firm has to conform to this high standard The new licence also requires the agency to be covered by the required amount of Professional Indemnity Insurance and to undertake a minimum of 12 hours of Continuing Professional Development every year They also have to remain up to date with industry developments and be bound by the NAEA s Rules of Conduct Hot Topics Increased Activity and a Positive Mood throughout the 2013 Property Market On Mon 23 12 2013 15 05 Posted In Selling Property Property Market Wow 2013 has been busy a point highlighted by the recent lack of blogs The peculiar thing is that economically nothing fundamental has changed or can be pinpointed as the core reason for this upsurge in activity within the property market All core factors have remained much the same for some time Interest rates inflation levels government policy etc The only significant change I can identify is simply the mood People appear to be feeling more positive and are now confident enough to forward plan The Olympics certainly provided a huge lift to the nation and imbued people with belief and optimism This was followed by more positive messages in the media and the appointment of a fresh and confident Mark Carney as Governor of the Bank of England This allowed a feeling of greater security to those with mortgages or who were considering a move because of the suggestion that interest rates may remain stable Finally the help to buy scheme then offered hope to first time buyers All of these elements amongst others played a part in contributing towards a belief in a firmer economic platform for the public to move forward from This increased feeling of security has undoubtedly resulted in more buyers and sellers coming forward in 2013 For those genuinely wishing to buy or sell the present market still offers the best opportunity for a move Buyers can still take advantage of low interest rates securing a fixed rate mortgage to see themselves through the last of these challenging times and hopefully enjoy the benefits of capital growth before their next move For sellers it has been a long time since buyers were so forthcoming When properties are pitched at the right price and supported by a full and targeted marketing campaign there really is no reason why you should not agree a sale within ten weeks However this opportunity may not continue as long as some might hope We are warned that the Bank of England s decision to scrap the Funding for Lending Scheme FLS could quickly force up mortgage rates in an attempt to avoid another housing bubble Some brokers have warned that mortgage rates could start rising in the New Year and that lending could be cut back as well I can certainly vouch for the fact that mortgage surveyors are still maintaining a frustratingly conservative approach to valuing and will quite happily down value a property if they see fit or if they are unable to match the sale against their considered comparables Does this suggest that we are not out of the woods In the worst case an interest rate rise may cause more homes to be put up for sale it may force more repossession s there may well be less mortgage approvals and of course we may see downward pressure on house prices Ultimately reluctance from sellers to reduce prices accordingly may then cause further stagnation My conclusion get moving now is a most certainly a great time to buy and sell v Hot Topics Red Hot Property Launches their Prudhoe Office with Huge Success On Mon 17 06 2013 15 05 Posted In Selling Property News Red Hot Property is delighted with the response we have received from the local market following the successful launch of our new Prudhoe office Based in the new Spetchells Centre on Prudhoe Front Street we have already listed and agreed sales on a large number of homes in the area Red Hot Property takes pride in our fresh and highly innovative approach to estate agency and in our proven ability to sell homes The huge success of the market leading Hexham office has provided a strong launch platform and we intend to emulate this success in Prudhoe The office is being managed by Diane Burdess herself a resident of Prudhoe with over 20 years of estate agency knowledge and experience behind her The majority of our property listings in Hexham come through word of mouth and client recommendations As a result we have every intention of delivering in the same way for our valued clients in Prudhoe We are absolutely confident that our clients will experience for themselves the absolute contrast to the Red Hot Approach when compared to the service levels usually experienced when dealing with the more traditional high street estate agents Our choice of office location is also significant As a modern and efficient firm the newly built Spetchells Centre is a fine example of how modern thinking can combine sympathetically with traditional surroundings As a firm we are aware that over 90 of our enquiries now come via websites and the shop front environment is simply no longer required in property sales The central location however does allow our clients easy access to our offices should they need to call in and we are available by phone from 9am to 9pm The Spetchells Centre was designed for the benefit of the community and as its name suggests is an ideal meeting place Within it is the local library ISOS housing and the Council offices As a firm which genuinely believes in investing for the future Red Hot Property feels very much at home here Hot Topics A Staggering Property Sales Performance in Movember On Wed 12 12 2012 15 05 Posted In Selling Property News It has been a busy and eventful year for Red Hot the result of which has been a gap in blog for a few weeks Despite the challenges of the current economic climate Red Hot Property has continued a forward drive throughout 2012 and delivered a staggering sales performance throughout November Results through Vizzihome research show that we sold an amazing 50 of the NE46 NE47 NE48 NE49 post code sectors during this period 2012 has been a highly positive year for Red Hot Property the highlight of which saw our team win a coveted Award for Excellence at The International Property Awards in London as seen in our home page web promo In fact we were the only Estate Agent in the north east to receive such an award On the back of this we look forward to building on our success into 2013 We also welcome to our team two new members of staff Dawn Elliot and Diane Burdess Both ladies bring with them over 20 years of valuable Estate Agency experience each having worked for well respected and established north east firms Red Hot Property take the responsibility for selling most people largest asset very seriously This ethos is reflected in our strict recruitment selection process Ultimately many of the resources we use are available to any agent that wishes to use them however they don t employ our quality of staff or harness our attitude towards selling the proof of which is shown in our performance As estate agents we continue to make the most moves Hot Topics Should Estate Agents Review Their Fees On Wed 06 06 2012 15 05 Posted In Selling Property Property Marketing Estate Agent Fees I will always be in favour of a free market economy and therefore I would never advocate only one approach to business Competition and alternative methods are a healthy way of ensuring optimum performance and client focus However I do feel that the estate agency profession is ripe for review reassessment and even stricter regulation First and foremost estate agents are responsible for selling most people s largest asset On this basis my primary concerns whilst choosing an agent would include That my chosen agents attitude and approach were focused on my best interests I would also be keen to hire the sales agent with the most proven and successful record of success I would expect value for money and to be charged a fair and justifiable fee Agent property magazine The Negotiator printed an article in their March 2012 edition titled Agency Fees Top Cost of Moving It highlighted a recent survey conducted by RBS discovered that agent s fees had increased by a staggering 69 in the last 10 years which rather interestingly coincides with a 64 increase in house prices during the same period It is worth noting that agents operating costs certainly didn t increase by a similar figure during this same period In fact by contrast the surge in dominance of website portals as a marketing media have enabled reduced operating costs I am therefore forced to wonder whether an agent who insists on hanging firmly to these accidently gained profit margins can simultaneously claim that they act in their client s best interest ahead of their own This extraordinary rise in agent s fees has created a protective blanket for some agents enabling them to appear bullet proof in light of the rapid decline in the number of property sales and mortgages being agreed in the current market I would sincerely hope that their existence is the result of their sales skills and business acumen rather than through the subsidies unwittingly gained from hefty fees Interestingly in my experience increased fees do not usually increase an agent s desire or ability to sell Most employed estate agents work for a company who pay a basic salary plus a small bonus As a result their gross earnings fluctuate very little alongside increased sales results It is only the minority who rely on large commission payments Secondly because the transaction time from listing to completion can be several months agents are often involved in a lot of work without any tangible or immediate feeling of financial return As a result usually money hungry sales people sell products with a quick transaction time and fast pay out in order to gain their commission fix And finally if a sale falls they get nothing for their work So actually increased fees can subsidise a business and allow an agent to become complacent As an agent I charge ½ vat as my standard sales fee I run a market leading business which is selling the majority of properties in our chosen post code sector My service extends beyond the norm including business hours of 9 9 7 days a week the employment of high calibre staff free accompanied viewings no contractual tie in or withdrawal fee and 75 of my property listings are the result of a recommendation My fee structure represents a simple formula Agents Fee Agents Cost Profit Therefore a large fee can only mean an agent has unnecessary costs or unnecessary profits Or both My advice to the public therefore is simple don t be fooled In my opinion Estate Agents who charge a fee of 1 or above are making huge and unnecessary profit margins It is true that gone are the boom years yet the inefficient ineffective and outclassed agents managed to survive How Have their inflated and unjustifiable fees allow them to Ultimately the future path of our profession is in the hands of vendors and they will no doubt decide whether they are willing to pay over the odds for the unclear benefits of a glossy and reassuringly expensive agent Hot Topics We Make The Most Property Moves On Thu 12 04 2012 15 05 Posted In Selling Property Property Marketing Red Hot Property continues to produce extraordinary results for our clients despite the challenging market We sold more homes than any other agent in the Tyne valley throughout 2009 2010 and 2011 and we have now Between January and March this year we sold an outstanding 46 of available homes in postcodes NE46 to NE49 Our extensive use of essential marketing resources guarantees our clients homes obtain the maximum exposure to active buyers Our links to all the major

    Original URL path: http://www.redhotproperty.co.uk/tags/selling-property (2016-02-08)
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  • Estate Agent Fees | Red Hot Property
    individual approach has been independently recognised by the International Property Awards Our instinct is that most vendors who opt for an online sell it yourself approach may not wish to repeat the experience once they have had a taste of exactly what is involved in selling a property They will however seek out the agents who offer a fairer deal the next time around particularly given that online marketing has obliterated the necessity of restricting their choice to local agents At Red Hot Property we believe that selling your largest asset requires a professional who has a proven record of success in achieving the maximum sale price for their clients within the desired timescale and with minimal stress The same principal could be applied to writing your will drawing up your company s accounts and more In this day and age it is possible to do most things yourself but whilst it may appear to save you money in the short term the end result can ultimately be more costly You have to factor in the cost of your time and the impact on your own professional and family life and your willingness to gamble on achieving the desired outcome And when you relate this fact to property the difference in the end result could be worth thousands We live in interesting times Innovation and evolving technologies have enabled us a range of exciting options and thankfully we do have choice Hot Topics Should Estate Agents Review Their Fees On Wed 06 06 2012 15 05 Posted In Selling Property Property Marketing Estate Agent Fees I will always be in favour of a free market economy and therefore I would never advocate only one approach to business Competition and alternative methods are a healthy way of ensuring optimum performance and client focus However I do feel that the estate agency profession is ripe for review reassessment and even stricter regulation First and foremost estate agents are responsible for selling most people s largest asset On this basis my primary concerns whilst choosing an agent would include That my chosen agents attitude and approach were focused on my best interests I would also be keen to hire the sales agent with the most proven and successful record of success I would expect value for money and to be charged a fair and justifiable fee Agent property magazine The Negotiator printed an article in their March 2012 edition titled Agency Fees Top Cost of Moving It highlighted a recent survey conducted by RBS discovered that agent s fees had increased by a staggering 69 in the last 10 years which rather interestingly coincides with a 64 increase in house prices during the same period It is worth noting that agents operating costs certainly didn t increase by a similar figure during this same period In fact by contrast the surge in dominance of website portals as a marketing media have enabled reduced operating costs I am therefore forced to wonder whether an

    Original URL path: http://www.redhotproperty.co.uk/tags/estate-agent-fees (2016-02-08)
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  • Stamp Duty | Red Hot Property
    to rent and therefore strongly assisting the rental boom this portion of the market has found it near impossible to save the 25 and 30 deposits once required by the banks Now deposit expectations are more reasonable and because of these financial incentives these crucial buyers have returned which in turn has a knock on effect on all price levels within the ladder There is a 10 shortage of property for sale hitting the open market It is this that has provided the balance It seems like a fair market for all right now with neither seller nor buyer having the upper hand With less available property for buyers prices are holding firm and Red Hot Property is seeing more than half of its sales achieving full asking price or more In fact it is unusual to see a sale go for significantly less than the asking price If your agent tries to tell you otherwise be wary So in summary it is definitely a great time to buy and sell If your personal circumstances permit and you are ready to make a move it really doesn t get much better Happy buying and selling Hot Topics Should the current stamp duty land tax be reviewed On Tue 06 03 2012 15 05 Posted In Stamp Duty Buying Property Anyone who buys a residential property in the UK is currently liable to pay stamp duty on their purchase The tax is charged on a slab basis meaning the percentage of tax that is charged applies to the entire amount paid for the property as follows Residential land or property SDLT rates and threshold Purchase price lease premium or transfer value SDLT rate SDLT rate for first time buyers Up to 125 000 Zero Zero Over 125 000 to 250 000 1 Zero Over 250 000 to 500 000 3 3 Over 500 000 to 1 million 4 4 Over 1 million 5 5 Up until 1997 stamp duty had been charged at a fixed rate of 1 on all purchases above 60 000 which brought in around 675m that year for the treasury There then followed a series of tax increases and subsequently the amounts collected rose sharply to 2 15bn by the year end of 2001 3 59bn by 2003 and by a staggering ten fold increase of 6 4billion by 2008 The changes that were introduced to the way stamp duty was administered not only increased the percentages charged but also saw the implementation of duty thresholds These thresholds meant that the higher the value of a property the larger the percentage you would be charged on the purchase This resulted significantly in around 80 5 1bn of the 6 4bn derived from this tax in 2008 being levied from homes worth in excess of 250 000 indicating that the first time buyer or entry level sales have little impact to the overall tax revenue It seems clear that a government strategy such as a stamp duty holiday

    Original URL path: http://www.redhotproperty.co.uk/tags/stamp-duty (2016-02-08)
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  • Buying Property | Red Hot Property
    is whenever it suits you If that happens to be the second half of 2014 we re here to help and advise you Hot Topics Red Hot Property Becomes A Licenced Member Of The NAEA On Mon 17 03 2014 15 05 Posted In Selling Property Buying Property Gareth Jones owner of Red Hot Property is delighted to have received a licence from the National Association of Estate Agents NAEA for his Hexham office Any NAEA licensed estate agency branch provides consumers with the guarantee that at least one agent within that branch is qualified in residential property sales This qualification requirement is unique to NAEA licensed estate agents the only licence of its kind in the UK property industry At its launch in the House of Commons in November 2011 the licensing scheme was given the backing of Grant Shapps Housing Minister and Shadow Housing Minister Alison Seabeck Peter Bolton King chief executive of the NAEA said I am delighted to confirm that Red Hot Property s Hexham Branch is now fully licensed We would like all sellers and buyers to ask their prospective agents Do you have an NAEA licence If they don t they should ask themselves whether that s the agent from whom they will get the best service when marketing their property No one would knowingly use an unlicensed taxi driver Neither should they use an unlicensed estate agent In a difficult economic time it is important for anyone placing a home on the market to use a professional knowledgeable agent NAEA members know their local area and know their local market That is very important to consumers On receiving his licence Gareth said Being a licenced member of the NAEA adds further credibility to our firm and the practises within it We have operated as the market leader for some five years now within the Tyne valley and the Hexham staff are highly experienced professionals with fantastic market knowledge As award winning agents we continually seek to refine and improve our approach and this platform provides our clients with huge confidence that our firm has to conform to this high standard The new licence also requires the agency to be covered by the required amount of Professional Indemnity Insurance and to undertake a minimum of 12 hours of Continuing Professional Development every year They also have to remain up to date with industry developments and be bound by the NAEA s Rules of Conduct Hot Topics Should the current stamp duty land tax be reviewed On Tue 06 03 2012 15 05 Posted In Stamp Duty Buying Property Anyone who buys a residential property in the UK is currently liable to pay stamp duty on their purchase The tax is charged on a slab basis meaning the percentage of tax that is charged applies to the entire amount paid for the property as follows Residential land or property SDLT rates and threshold Purchase price lease premium or transfer value SDLT rate SDLT rate for first time buyers Up to 125 000 Zero Zero Over 125 000 to 250 000 1 Zero Over 250 000 to 500 000 3 3 Over 500 000 to 1 million 4 4 Over 1 million 5 5 Up until 1997 stamp duty had been charged at a fixed rate of 1 on all purchases above 60 000 which brought in around 675m that year for the treasury There then followed a series of tax increases and subsequently the amounts collected rose sharply to 2 15bn by the year end of 2001 3 59bn by 2003 and by a staggering ten fold increase of 6 4billion by 2008 The changes that were introduced to the way stamp duty was administered not only increased the percentages charged but also saw the implementation of duty thresholds These thresholds meant that the higher the value of a property the larger the percentage you would be charged on the purchase This resulted significantly in around 80 5 1bn of the 6 4bn derived from this tax in 2008 being levied from homes worth in excess of 250 000 indicating that the first time buyer or entry level sales have little impact to the overall tax revenue It seems clear that a government strategy such as a stamp duty holiday for first time buyers is an easy and affordable one to make Unfortunately the reality for the first time buyer is the opposite For them stamp duty is a far greater burden than we appreciate The average stamp duty charge in 2007 was 1971 which equated to a whopping 7 of the average full time UK earning that year Removal of such a major obstacle should have a serious impact on a first time buyer s ability to participate within the market Clearly stamp duty is not the only issue to address in order to stimulate the property market However the way in which stamp duty is administered appears to be ripe for review It is important to remember that the huge revenues now generated are not just the result of increases to the percentages charged but more significantly because the actual thresholds have not been realigned to account for house price inflation Had this been done the 3 banding at 250 000 would now apply to homes worth in excess of 750 000 I m not convinced that drastic measures are necessary but perhaps a more steadily progressive banding system which avoids large and sudden jumps to the percentages charged and is focused on easing the burden of tax on the lower and middle markets may stimulate activity Given that the larger proportion of revenue is gained from higher value home purchases the amount of overall revenue achieved in this way should remain largely unchanged With less immediate cost to moving people are left with a higher percentage of disposable income which may be spent on necessary works such as carpets bathroom redecorations etc The table below provides an example of a more progressive

    Original URL path: http://www.redhotproperty.co.uk/tags/buying-property (2016-02-08)
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  • Red Hot Property is Delighted to Sponsor Sport Tynedale’s 2014 Bursary Scholarship… | Red Hot Property
    Property search Home Hot Topics Red Hot Property is Delighted to Sponsor Sport Tynedale s 2014 Bursary Scholarship On Mon 08 12 2014 15 05 Posted In Community Support News Having been invited as Guests to the Sport Tynedale Awards in 2013 Red Hot Property is delighted to now be involved as sponsors for the Stan Calvert Red Hot Property Bursary Business owner Gareth said I was immediately captivated by the outstanding young talent in our region and was also impressed to witness the significant role Sport Tynedale play in supporting encouraging and recognising these young athletes It was therefore an absolute privilege to then be invited to provide our support through sponsorship of the Stan Calvert Bursary and in so doing contribute tangibly to the future development of a sports star in the making Sport Tynedale hold an annual Sports personality of the Year type award ceremony which is sponsored by SCA Prudhoe Mill this year to be held at the Wentworth leisure centre on December 14th The evening will recognise some of the brightest young sporting talents in our region many of whom perform at national and international levels The evening presents prizes to winners within certain categories

    Original URL path: http://www.redhotproperty.co.uk/blog/red-hot-property-delighted-sponsor-sport-tynedale%E2%80%99s-2014-bursary-scholarship%E2%80%A6 (2016-02-08)
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  • Red Hot Property Officially Ranked Among the World’s Best.. | Red Hot Property
    Services About About Us The Red Hot Pledge Regulations Responsibilities Our Awards Our Marketing Team Offices Hot Topics Hot Off The Press Red Hot Tips Awards Contact Contact Us Offices Property Search Property search Home Hot Topics Red Hot Property Officially Ranked Among the World s Best On Mon 08 12 2014 14 45 Posted In Community Support News Red Hot Property has been awarded one of the industry s highest possible honours at a gala dinner held by the International Property Awards in London They are now officially rated as a Five Star Agent and have been included within the prestigious Property Awards publication of the World s Best for 2014 2015 Business Owner Gareth Jones said We work tirelessly to provide our clients with an outstanding sales platform This Five Star rating clearly recognises the quality and commitment of our firm and I am delighted to be ranked alongside the world s best property professionals This year s awards were sponsored by Rolls Royce and Gaggenau two brands strongly associated with quality and distinction The judging was scrutinised over several months by an esteemed panel of some 85 property experts and the presentation was made by Lord Best and Stuart Shield President of the International Property Awards The 500 guests included many of the UK s finest property developers architects interior designers hoteliers and estate agents Stuart Shield President of the International Property Awards said To win one of these awards shows exceptional levels of professionalism and competence The award winner s logo is recognised as a symbol of excellence throughout the global industry and attaining one of these coveted awards is indisputable evidence that Red Hot Property is capable of beating some exceedingly strong contenders within the highly competitive UK arena Gareth concluded We are totally committed

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