Richard Butler Creagh blog

Richard Butler Creagh: Shared Ownership to get on the property ladder

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Richard Butler Creagh on an affordable way for first-time buyers to get on the property ladder

Welcome to the Richard Butler Creagh blog. Despite a high percentage of London’s house prices being some of the lowest performers in the country for growth, the average house price is still far higher than the rest of the country, at roughly £490,000 According to Richard Butler Creagh. The daunting figure of a 10% deposit is still seen as being largely unaffordable for most first-time buyers and young professionals looking to get a foot in the door in the UK’s capital. Therefore, most millennials and young professionals have turned to rent. However, the average rental price in London is currently around £650 a week and can be considerably higher depending on location, number of bedrooms and a number of other variables. All this means that potential first-time buyers are taking longer and longer to save up for a deposit.

Although the Help to Buy Scheme provides a chance to gain a new build property for the fraction of the price, it still has its critics and many still feel uncomfortable taking this option due to the lending restrictions. As a consequence of this many young professionals are put off buying altogether, unless they are lucky enough to get a loan from the bank of Mum and Dad.

A little-known alternative to this problem is Shared Ownership. Shared Ownership gives first-time buyers the chance to buy a share of their home (between 25% and 75%) and pay a reduced rent on the remaining share. It is available to you if you earn £80,000 a year or less outside of London, or £90,000 a year or less in London. It is available on both newly built homes and an existing property through resale. The idea behind the scheme is that you only pay a percentage (however large or small) of the property, then buy bigger shares as and when you can afford it. Thus allowing first-time buyers a chance to get a start on the property ladder without having to pay the deposit on a full price house, something not many in their 20s can afford.

Watch the video below to learn more.

At Henley Finance, we encourage any inventive and new schemes to get onto the property ladder. With RichardButler Creagh once being a first-time buyer we understand first-hand the difficulties with getting a foot in the door and making that step. The new schemes in place are evidence that, although it is hard, it’s not impossible to buy.

bridging loan

Richard Butler Creagh: Guide to Bridging Loans

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Richard Butler Creagh Shares Pointers before Applying for a Bridging Loan

Welcome to the Richard Butler Creagh blog. Richard Butler-Creagh founded Henley Finance in 2013. After a successful career in property development, he understood the needs of the professional and their requirements in short-term bridging finance and devised a way that they could be better met in Henley Finance. Bridging loans are short-term loans, usually high-interest ones too, that can be used to get access to funds quickly. Most clients that take out this type of loan often have a need to get their hands on funds quite quickly. It is most useful for people involved in real estate especially in instances when they may need some funds to complete the purchase of a real estate and other property. Below are some tips that you should remember if you are considering the possibility of taking advantage of a bridging loan.

Know the costs involved

While it may sound simple, always make sure to be clear when it comes to the full amount of the loan and the specific portion of that amount that will have to go to interest rates and fees. It is also important to remember that the short-term loan is attached to high fees and interest rates. Among the fees that you are likely going to need to cover when taking advantage of this loan include the facility fee, the exit or prepayment fee, valuation fee, the legal fees, legal fees for the lender along with disbursements, fees for the broker, as well as bank transfer fees.

Find out about the security that is being given too

One of the most common conditions that you as a borrower will be asked for when getting the loan is to provide a certain security or leverage to the lender. This usually comes in the form of a charge against the property involved. There are also other types of security that can be used for this purpose. Make it a point to comply with the conditions attached to the loan though to make sure that there will b no unnecessary legal implications as a result.

Know about the pre-loan requirement

If you want to get a much better chance at getting approved for the loan, then be sure to know about the pre-loan requirements first. Different loan providers have their own different standards as far as pre-loan inquiries are involved. Do due diligence to make sure that you have all the documents needed. Be aware that the costs are likely going to be yours to shoulder so, be prepared for that. Make sure to provide the lender with the necessary explanation too on how you are going to fully repay the amount that you are borrowing. Ensure that you will have sufficient funds that should help you do this.

Timing is important too

While it is known for loans like these to be expedited at a much faster rate, they may take longer than what you expected if you are unable to do things the right way. This is also why it is highly suggested that you should find the right solicitor to guide you along the way, one who knows all the legalities involved and one who has been processing these kinds of loans before will be able to extend to you some very effective practical tips to speed up your application.

Watch the video below to learn more.

Learn about bridging finance and how it can benefit you by reading about Richard Butler Creagh online. You can also follow Richard Butler Creagh on Twitter here.

bridging loan

Understanding the Need for a Proper Exit Strategy when Getting a Bridge Loan

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Richard Butler Creagh Shares Important Exit Strategy when Taking Advantage of Bridging Loans

Welcome to the Richard Butler Creagh. Richard Butler Creagh founded Henley Finance in 2013. After a successful career in property development, he understood the needs of the professional and their requirements in short-term bridging finance and devised a way that they could be better met in Henley Finance. If you are thinking of getting a bridge loan, you are going to need an exit strategy. It is a plan that you will need to put in place which should help you repay the loan when it comes to the time for you to pay it.

Bridging loans are specifically designed as short-term finance solutions. While it is true that they can be quite useful when they are needed, they do tend to be a little more expensive when compared to long-term debts. This is the reason why it is important for you to get them repaid on time or you will end up getting slapped with interest rates that would only increase the debt even further.

The moment that you hit the end of a loan term, you will need to get the loan repaid in full. Being unable to do this would mean that your account will have to be in default. Since a situation like this is certainly going to have a negative effect on your credit file, the best thing to do is to get the situation resolved as quickly as possible.

You will usually have the option to extend the loan or to get it refinanced. Extending the loan would mean that you may no longer be able to keep rolling the interest up. Also, lenders may refuse to get the loan renewed. There are others that will likely increase the interest rate too. If you will go the refinance route, it can get quite expensive. Most of the time, you are just delaying what is inevitable- which is to pay the loan back- when you take this road.

There is a number of exit strategies that lenders may consider taking in the event that you are unable to pay the monthly fees back. They may sell the primary property, sell some other investments, refinance to a mortgage that is set for a longer-term, sell the secondary property, or sell shares.

Borrowers should always consider an exit strategy against whatever available timescale you have. Remember that it is better to have to extend the borrowing period longer than to actually run out of paying time. Most lenders that offer bridging finance will usually not charge fees for early repayment if you will choose to get the funds paid earlier than what was agreed.

If you are trying to sell a property, other investments, or shares, always check the market liquidity first as well as the likely length of time that the transaction is going to be completed. Property sales often take longer to get expedited even longer than what was initially expected. It is important to know the risks of possible buyers dropping out, failing their mortgage applications, as well as taking too long a time to get the process completed. Remember that buyers will usually not be sympathetic to the situation and will often take their sweet time and their own pace before pursuing the purchase.

Watch Richard Butler Creagh's video below.

It helps to get a good understanding of the options available to you so you know that you will be able to meet your financial obligations out of taking advantage of a bridge loan. Learn more about how you can get the most out of a bridge financing by reading about Richard Butler Creagh online.

Business Finance

Richard Butler Creagh: Buying Property Tips

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Richard Butler Creagh Shares Buying Property Tips for First-Time Home Buyers

Welcome to the Richard Butler Creagh blog. Buying a home for the very first time is not always an easy experience. The fact that it is one purchase that will have a really huge impact on your finances makes it a confusing and daunting task. There is also the fact that there are a lot of pitfalls that can be involved in the decision.

With a few easy steps though, preparing yourself financially to make the purchase is going to be possible. You want lenders to see you positively in order to get the financing you need. Read on and learn about how you can approach the whole buying process with more confidence even if this is the very first time that you will do so.

Show proof that you can manage your credit

You want to be attractive to lenders. They just need to see evidence that you are going to be one reliable and responsible borrower. Among the things that you will want to ensure is that you are up to date on your credit payments. Show too your total credit level and how much of it you are using. Show to your lenders that you know how to better manage your mobile phone contracts, your credit cards, as well as your utility services and it will truly help your case.

Select the right mortgage

Decide between a variable or a fixed one. Determine whether you would prefer an interest-only or a repayment type. Your type of mortgage is going to make a difference when it comes to the repayment amount that you need to cover every month. So, carefully think it through. Find out what are the specific choices that are available for a first-time buyer like you to select the best and most ideal arrangement.

Check out affordable schemes for buying a home

One way to lessen the costs that you need to cover when buying a home is to engage in shared ownership. This is where you will buy your share of a house with the minimum usually at 25%. You will then pay rent to a housing association for the rest of the costs of the property. This means that you will only need to secure a mortgage for the value of the share of the house that you are buying. Once you get more established financially, you can buy more shares of the house until you finally reach full ownership.

Check your credit report and get it in shape

Check your credit report before you submit any mortgage application. Check if the information listed there is correct. In the event that you have a rather abysmally low credit rating, take the necessary steps to get it in shape so when you will start submitting mortgage applications, you get a good chance of getting approved.

Learn more tips on buying a house for the first time from Richard Butler Creagh. More property buying tips can be found at Richard Butler Creagh Facebook and follow Richard Butler Creagh on Twitter.

henley finance

Richard Butler-Creagh - Pillars of Property Investments

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Pillars of Property Investments

Richard Butler Creagh is an financial consultant who founded Henley Finance which provides short-term bridging finance to property development sector. Here is Richard Butler-Creagh advise on pillars of property investments:

Just because you have taken the rocket from landlord to property investor, does not mean you future financial fortune is assured. The fact is it doesn’t even mean that you can start making profits in the short term or that you are already on your way to owning a sizeable portfolio. The reality is at only around 20% of those who got involved in property investments sold up within the first year and close to half sell their property within 5 years. Of those who stay in the business, around 90% never get past their second property. There is no shortcut to success, but the property investment road is worth the ups and downs if you stick around long enough to get to the good part.Here are your guidelines to having a successful property investment career.

Think Strategically

We all know the saying “Fail to plan and you plan to fail.” Wise investors take this catchphrase seriously. Investors already know exactly what they want to achieve and ensure their investment decisions are working towards that particular goal. For a sophisticated type of investor to bite, each property they buy has to fulfill the standards they have set through their chosen strategy. It must also get them one step closer to their end goal.

Manages risks

A savvy investor knows that good finance strategy is just as vital as good property strategy. This includes ensuring they don’t over-leverage as well as building in ample financial buffers in the lines of credit. Smart investors not only manage the money risks that come with the investment, but also work at minimizing their risks. They seek great advices for the best ownership structures for the protection of their assets and to legally minimize their tax.

Invest against the grain

A smart investor understands that the property market is moving in cycles and appreciates the power of counter cyclical investing and this is why they don’t usually follow the crowd. They don’t pay attention to the current hype in the markets of overnight get-rich-instantly property schemes. They don’t get caught up in the next hotspot to buy property even if all the flock seems to be gathering in that direction. Instead, a sophisticated investor is contented to sticking to their tried and tested strategy knowing that the crowd is usually late for the party.

Investors are building their success under the guidance of their advisors and are very ruthless in making sure they have the best people in the business on their side. Now that you know what it takes to become a successful investor, become what you always wanted to be. Put in some extra effort and go the extra distance.

Know more about becoming a good investor from Richard Butler Creagh and come up with your plan for success today. Know more about Richard Butler Creagh through his Crunchbase page here and read Richard Butler-Creagh news here.

Watch Richard Butler-Creagh video here:

Business Finance

Richard Butler Creagh Tips on the Lettings Market for Autumn

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It is kind of lonely that the summer is well and over behind us. But looking at the bright side, this can pose as a great opportunity for property investors.

Richard Butler Creagh gives us tips on how to excel on the property market this autumn.

The summer holidays are over

With a lot of people back from their summer trips in the autumn, tenants will likely start searching for new home again. This means that if you suffered a low-down during the summer, you are likely see a rise in demand during the cold months. This is a great news if you are planning to get a property let.

People wants to move in

Tenants will also be more eager to move into new properties in the autumn because this means that they will be settled into their new homes by Christmas. As a result, property investors will be sure that this fact, accompanied with an increase in demand, will lead to more properties being sold up as quickly as possible. A fast move-in will also prevent you from long void periods, which can have a hazardous effect on your finances.

Students are returning

It is usually on September and October that students start coming back to their respective universities. If you are a new investor in properties, you will soon get used to this cycle. You can even allow short-term lets during the summer to keep your property full.

Target the right tenants

If you have been suffering a slump during the summer, you must take this opportunity to ensure that you are targeting the right kind of tenants and that your property is suitable for them. The most important factor on having a successful lettings business is to have trustworthy tenants in your properties so you must make sure you find the right ones. If you decide to target different tenants, make some changes in your investment like considering adding another bedroom for family tenants.

If you are interested in purchasing a buy-to-let property then contact a reputable bridging finance company like Henley Finance. Follow Richard Butler Creagh on Twitter or watch this video to find out more

Business Finance

Richard Butler Creagh: How to Stop Overspending

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Richard Butler Creagh shares tips on how do you stop yourself from overspending

Welcome to the Richard Butler Creagh blog. Technology has given consumers revolutionary access to shopping opportunities. You can shop at any time of the day, literally! From your phone or tablet, debit, credit, store cards, gift cards and etc. The list is endless. There probably has never been a tougher time to resist the temptation to overspend. A few impulsive clicks and your carefully planned monthly budget is dead. So the immortal question is how can I limit my spending?

Since the root of the problem may be the limitless access to opportunities for spending money, try these following tips from Richard Butler-Creagh – a financial expert:

Focus on savings first

Send direct deposits into a savings account. Most people have their paychecks deposited into a checking account, where their salary becomes immediately available for spending. Instead, have your paycheck go into savings, and transfer only a budgeted amount every month into checking to meet your expenses.

Give yourself a cash allowance

Electronic transactions can be hard to keep track of on the fly, and they don’t give you an instinctive sense of when you have spent too much. Try using cash for daily expenses, subject to a budgeted allowance amount. This will make it more obvious when you have run through your budget for the week.

Dump the cards

Get out of the practice of carrying credit and debit cards with you at all times. Consistent with the idea of doing things more on a cash basis, leave the credit and debit cards in a secure place and take them out only to make budgeted purchases. Consider also dropping time-saving measures like “one-click” shopping where you store all your credit card information with an online retailer. Make shopping online harder to accomplish, not easier.

Compare prices

Don’t buy things until you have three price comparisons. When you do buy something out of the ordinary, make yourself shop around. You might save by finding a better deal, and in any case this discipline may slow you down enough for some spending impulses to wear off. Yes, hunt for the online coupon!

Modern technology allows spending money to occur almost quickly. What the techniques listed above all have in common is that they attempt to slow down the process of spending money. The idea is that with a little more time to think, you might make wiser decisions about how to spend your money.

Learn more about Richard Butler Creagh, the founder of Henley Finance. Read more about Henley Finance which is a bridging lender company that invests in UK property here.

You can also watch Richard Butler Creagh Youtube video here:

Richard Butler Creagh: Shared Ownership to get on the property ladder

Richard Butler Creagh on an affordable way for first-time buyers to get on the property ladder

Richard Butler Creagh: Guide to Bridging Loans

Richard Butler Creagh Shares Pointers before Applying for a Bridging Loan

Understanding the Need for a Proper Exit Strategy when Getting a Bridge Loan

Richard Butler Creagh Shares Important Exit Strategy when Taking Advantage of Bridging Loans

Richard Butler Creagh: Buying Property Tips

Richard Butler Creagh Shares Buying Property Tips for First-Time Home Buyers

Richard Butler-Creagh - Pillars of Property Investments

Pillars of Property Investments

Richard Butler Creagh Tips on the Lettings Market for Autumn

Richard Butler Creagh gives us tips on how to excel on the property market this autumn.

The summer holidays are over

People wants to move in

Students are returning

Target the right tenants

Richard Butler Creagh: How to Stop Overspending

Richard Butler Creagh shares tips on how do you stop yourself from overspending

Focus on savings first

Give yourself a cash allowance

Dump the cards

Compare prices

Richard Butler Creagh About

Richard Butler Creagh Links

Richard Butler Creagh Video

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