Are IT Contractors Eyeing Up The Property Market Again?
OnTax Accountants In Dunfermline has worked with many IT contractors over the years and has seen that investing in property has always been a favourite for IT Contractors particularly as the market is looking good for them again. OnTax Accountants In Dunfermline has learned that the latest house price index from Nationwide showed that prices rose in February 2013 by 0.2% month-on-month. OnTax Accountants In Dunfermline also observed that this is an annual rate of 2.4%, it's nothing to party about but at least going in the right direction.
Whether it is the stock market or the property market you seldom get in at the bottom and get out of the top. As long as you make money along the way you should be satisfied. OnTax Accountants In Dunfermline however, thinks that it looks as good a chance as any to get in now as prices surely cannot drop much further. Unlike some accountants who know more about using their surplus cash to start other opportunities, IT Contractors seem to invest in the share market and in new properties. OnTax Accountants In Dunfermline have analysed the last few years data and seen that the prices have already fallen a lot. Even if they don’t soar straight away they are unlikely to lose much more. This justifies the increased interest in the property market. After all, land is land! And money is money!
IT Contractors Are On The Rampage To Buy Property!
It is understood that surplus cash that IT contractors have made is funding a mini boom in property purchasing at rock bottom prices. The "funding for lending" scheme has made more money available and also pushed down interest rates.
OnTax Accountants In Dunfermline is of view that the main problem that buyers are having is finding large deposits. OnTax Accountants In Dunfermline has also found that bank loans and other sources of funds are available, it's just the qualifying that is the hard bit!
London Is The Prime Place For IT Contractors To Invest In
Buy Property Now, It Wont Get Any Cheaper!
Our advice to IT contractors is to buy property now, but negotiate hard as it really is a buyers market. Another developing issue for IT Contractors is that they have to ensure that they don't have any pending tax returns and that you have provable earnings.
OnTax Accountants In Dunfermline believes that it helps to understand a bank's position in giving loans to IT contractors. Banks are in a dilemma when having to prove a person earnings, particularly those running their own limited companies. OnTax Accountants In Dunfermline suggests that a balance is obtained between using every legal method possible to lower your profit but retaining a profit level sufficient to support a loan application.
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