Since engaging with the Twittersphere back in early February 2009 I have been amazed at how far it has come and the amount of people I have conversed with. True, it took me a long time to get to grips with and to understand how it can be used properly for business purposes, but a bit of perseverance is now paying off.
Of course there have been many detractors, the piss-takers and technologically inept who continue to see social media as a waste of time.
Not much to report after a slow news week driven by two long bank holidays; apparently a celebrity couple got hitched and some bloke got knocked off by the Americans but I think that was it.
First-Time buyers have been in the news as ever with further reports of the difficulties faced with getting onto the property ladder. In fact, as our own research suggests, the average deposit now stands at £54,923 and a whopping £138,624 in London, property ownership may seem to be becoming the preserve of the “haves” rather than the “have nots”.
The other night I watched the excellent “Wonders of The Universe” with Prof. Brian Cox, (the thinking woman’s crumpet), and learnt a new term that I thought was apt; Entropy.
This is especially important, as I am sure you all know, in the 2nd Law of Thermodynamics that crudely speaking suggests that time moves on in one direction and change is inevitable. These processes reduce the state of order of the initial systems, and therefore entropy is an expression of disorder or randomness.
Last week was a mish-mash of contrasting news headlines that look like continuing into this week. Whilst events in the Middle East and talk of an oil crises overshadows much of the news, the revelation that the UK economy actually performed even worse than first thought in the last quarter may delay the impending rate rise by one month, at least until the next quarters figures are released.
I’m still betting on a rise by May and happy to take wagers!
This week we shall undoubtedly see the thorny subject of bankers bonuses raising its head again, especially as Barclays are due to be the first bank to reveal its bonus figures on Tuesday. Whilst this is a cue for Vince Cable to stomp down the well-trodden warpath, the property market is usually a beneficiary of this.
Already this year we have seen the number of enquiries for large mortgage loans on £1m plus properties increase dramatically as many traditionally cash-buyers look to take advantage of low mortgage rates and property prices that in a few years time will look like a very good deal as the economy improves.
Andrew Montlake, Communications Director at Coreco and ‘Mortgage Personality of the Year 2008’, gives his views — honest and no holds barred — on the latest developments within the mortgage and property markets.A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £495.
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