BUsINEss
Edinburgh networking
A new networking group, Edinburgh Property Professionals (EPP), was successfully launched at
an extremely well attended event in Edinburgh. Over 130 of Edinburgh’s leading property professionals attended the launch at LuLu in George Street, where guests enjoyed a cocktail reception and an introduction presentation from the company’s Founder, Mark Antscherl and Chief Operating Officer, Belinda Roberts. Amongst the guests were
a number of EPP’s Founder Members, including Malcolm Cannon, CEO, ESPC, Steven Currie, Director, Murray & Currie, Brian Johnstone, Senior Partner, Clydesdale Bank and Iain McLean, Property Partner, Biggart Baillie. Full details of the EPP forum are now online at: www.edinburgh property
professionals.com. For the EPP Launch period,
annual membership is only £125.00 plus VAT. EPP is the first of a network of city specific groups that will be established by UK Property Professionals Ltd. “The response to EPP has been
extremely positive and we are delighted to launch our first city group.” Commented Mark Antscherl, Founder, UKPP. He went on, “There has never been a more important time for professionals and companies to communicate and collaborate. We have launched this network to support the property industry and give our members a really effective and unique way to connect.”
FINANCE
Mortgage flow starts to ease
The number of mortgages available to property buyers is at its highest
Crowd control at London auction AUCTIONs
Staff at Andrews and Robertson had to work to control the crowds after attendance at its Grand Connaught Room auction rocketed. Sales totalled over £12m
after 60 out of 93 properties sold at the sale with success rates peaking at 65 per cent. Post sales pushed the total revenues up to almost £13m and 70 per cent. Robin Cripp, auctioneer, said
buyer thirst for vacant flats and houses as well as tenanted residential properties was “extremely keen”. “We had to manage how many bidders were in the room at any one time and filter them in when the lots they were chasing
rEwArds Spicerhaart stars’ World Cup trip
Hundreds of Spicerhaart employees from across the UK were linking up online at the end of May to witness a draw to win a World Cup trip-of-a-lifetime, as part of a reward scheme to recognise excellence. Those who gained the best results in sales, lettings and financial services over the past three months will net an all-expenses paid trip to the World Cup 2010 in South Africa. Spicerhaart will be whisking off over 100 people to the event. Russell Jervis, MDof Spicerhaart,
said, “We are committed to offering excellent incentives in order to reward those employees who achieve top results. “Staff have been rewarded after
reaching certain targets, with more accolades given for further successes. Now, each of their names will be entered into the draw where we will pick the
were looming. It was an exceptionally busy room. We are seeing that well priced property, particularly in London and the South-East of England is being actively chased by bidders.” One big winner was Lot 34,
a substantial corner building in London SE23. The opening bid was £330,000 but after a lot of enthusiastic bidding it sold for £527,500. Other particluar successes were cottages in Ramsgate and Newmarket. Cripp added: “We have a
number of offers in hand for some of the unsold lots and are confident of seeing our total rising to more than £13 million and the success rate in excess of 70 per cent.”
level since 2008, particularly for those who do not have a large deposit such as first time buyers, research shows. Analysis by comparison site,
moneysupermarket.com, shows the number of mortgages available at 85 per cent LTV is at its highest since October 2008 and the number of mortgages available at 90 per cent LTV is at its highest since December 2008. “These are positive signs for
people who can only muster a small deposit, or have little equity built up in their home. For too long the supply of mortgages to this group of people has been too limited,” said Hannah-Mercedes Skenfield, mortgages channel manager at
moneysupermarket.com. She welcomed the launch
Spicerhaart MD Russell Jervis (left) and CEO Paul Smith will pick the winning names in its special World Cup draw.
winning employees at random.” The draw will be undertaken by
Russell Jervis and CEO Paul Smith, who added, “Our staff are our best asset and the competition is a great way to reward all the hard work achieved over the past few months. We are now embarking on an exciting programme of expansion, with even more rewards to come.”
of a new range of 85 per cent and 90 per cent deals from the Post Office offering a two year fixed rate at 5.45 per cent with a £999 fee. “This should really help stimulate competition and get this market moving again. One of the most telling trends of the last two years has been lenders’ obsession with equity. The simple fact is that plenty of people can afford mortgage repayments but struggle to save the many thousands of pounds usually required for a 20 to 30 per cent deposit. This means people have been needlessly locked out of the mortgage market,” she added.
New buy to let mortgage
products recently released onto the UK market indicate that lenders are easing up on landlords and that the lettings market could be on the up. The buy to let market has stalled but it now looks as though things may change, as The Mortgage Works has launched a range of fixed rate and tracker BTL mortgages for 80 per cent LTV.
PROPERTYdrum JUNE 2010 7
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