Look4aProperty Blog

Blundells to launch interest free loans with the man who Caan

Blundells Estate Agents

Leading Sheffield estate agent Blundells is the first in the North of England to launch ‘Dragon’ James Caan’s interest-free loan scheme for buyers and sellers.

Look4aProperty.com | Money is a fund of more than £1billion which will be used to finance interest-free loans. These can be used to help buyers and sellers cover unavoidable costs like estate agent fees, stamp duty, legal fees and HIPs*.

The loans are only available through selected estate agents, and Blundells is the first in Yorkshire to sign-up.

Steve Hinshelwood, Blundells Director says he is delighted to be launching the partnership.

“This initiative gives home buyers and sellers another way of getting on to the property ladder,” says Hinshelwood.

“It will stimulate the housing marking across Sheffield and North Derbyshire, which will be a great boost to the sector.

“To be the first agent to launch this scheme in Yorkshire is a great honour for us and we are looking forward to developing our relationship with Look4aProperty.com | Money.”

James Caan, chairman of Look4aProperty.com | Money will be announcing further initiatives to get the market moving in early 2010.

James Caan and Aaron Turner

“We are delighted to start rolling out our Money product and to get the cheques written,” says Caan.

“This product will help buyers and sellers all over the UK to finally move into the home they want – and that will help stimulate our struggling economy.”

Aaron Turner, CEO of Look4aProperty.com | Money says the loans will give real hope to hundreds of thousands of people.

“Regulations are so tight now that people need to save huge sums just to cover their deposits,” says Turner.

“That leaves very little leftover for additional and unavoidable costs. This initiative will give people the flexibility to move now, and pay later on an interest-free basis.”

ENDS

*The HIP loan is a deferred loan over a 10 (ten) month period. The principle sum and the interest will be payable in one payment at the end of the term.

About Look4aProperty.com | Money

Look4aProperty.com | Money allows potential buyers or tenants to search for the right home, using properties submitted by estate agents up and down the country. The site features over 200,000 UK sale and rental properties as well as properties from Overseas. Unlike similar sites, Look4AProperty.com is not tied to, owned or affiliated with any estate agency company, or any other property company or media group.

James Caan launches Look4AProperty|Money to boost business for estate agents

One of the country’s leading entrepreneurs has launched a multi-million pound initiative to kick-start the housing market.

Dragon’s Den star, James Caan, famous for using his own money to give fledgling businesses a foothold onto the first rungs of commercial life, now wants to help ordinary people climb the property ladder.

Caan is backing an unprecedented package to take the pain out of buying and selling a home. The initiative will offer interest-free loans to cover unavoidable costs such as stamp duty and legal fees, which is a multi billion pound market.

Access to the loans will be through a network of carefully selected estate agents across the UK. Caan says the scheme is all about getting liquidity back into the property market.

“A healthy housing market is the lifeblood of the UK economy,” says Caan. “This country needs sound initiatives to get things moving again – so we have launched Look4AProperty|Money.”

James Caan and Aaron Turner

From now on, every home buyer in the UK is entitled to apply for an interest free loan (subject to status). All buyers need to do is to ask their local estate agent to arrange it for them as part of the offer they make on the property they wish to buy.

Loans can be spread over two or three years – interest free. Look4AProperty|Money will also offer a 10-month loan to cover the cost of a HIP*.

“This scheme gets rid of those financial obstacles which are holding up the housing market. This means that thousands of people who have been putting off moving or buying their first home can now climb up the property ladder without further delays,” says Caan.

Caan and his business partner in the venture, Aaron Turner, began negotiating for the initiative last year after Caan bought a 25 per cent stake in Turner’s online property portal, Look4AProperty.com.

According to Turner the stress of finding the money to pay stamp duty is a major reason why many people aren’t moving house.

“Because stamp duty must be paid by house buyers to HM Treasury on contract completion it cannot be bundled into a home loan,” says Turner.

“It is one expense too far for many people. This initiative is an excellent way to help people; it creates a comfort zone which gives them room to move.

“The benefits of this simple scheme are two-fold. Home buyers will have less pain and something to gain from not having to worry about finding the costs involved with moving.

“The interest free loan will allow people to use the cash they save to pay for vital items for their new homes – and that will help the struggling high street.” Read the rest of this entry »