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As a farmer and a property investor I can see areas I need to develop. Property Mentor has boosted my confidence to a new level and I'm looking forward to my future property deals
Phil Robinson, March 2010 Read More Testimonials -
Having had great concerns about becoming a Property Mentor delegate and attending the Workshop, I now feel much more confident about starting up in property investment and can see that with commitment and effort it could be a very viable business
Steve Dodd, March 2010 Read More Testimonials -
Learning how to research the area(s) I am interested in and how to stack the properties will give me the confidence to know I will be able to afford the deals I go for. This means I will be able to fulfil my dream to invest in property and become financially free.
Lesley Adam, March 2010 Read More Testimonials -
The Workshop covered a much wider spectrum and much more thoroughly than other courses I have attended. It has given me more confidence to invest in property
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This course has been mind opening. I can now see a proven path to becoming wealthy and financially free
Luke Vincent, February 2010 Read More Testimonials -
Before attending Property Mentor I had no idea of the different strategies that are available. I now have a clear strategy to start my journey to financial freedom...Yipee!!
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Knowledge is King and the knowledge I learned would have taken forever without Property Mentor
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I've wanted to invest in property for three years. I now have the knowledge, the confidence, the tools and the Property Mentor support to succeed. My future is mapped out from today. The future is positive
Crookall, February 2010 Read More Testimonials -
A highly rewarding few days where I learnt a lot of new information and skills. I now have the confidence to go forward and take my first steps in property investing, confident that the Property Mentor team will be there to support me
Sean Stabb, February 2010 Read More Testimonials -
I was impressed with the Taster evening and the Property Mentor Workshop was excellent. It opened my mind to a whole new concept of buying property and getting maximum cashflow. Thank you.
Sarah-Jane Rootham, February 2010 Read More Testimonials -
Brilliant! Everything I was looking for to start my life. To free myself and my mind from the illusion that it is impossible and only other people do it!
Mark Williams, January 2010 Read More Testimonials -
I am confident the Workshop weekend will be the catalyst to creating financial freedom. The Property Mentor system is very simple and with a little application it will change my life
Philip Terry, January 2010 Read More Testimonials
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The Bank of Mum and Dad
Investing in property on behalf of your child is the latest craze to rise out of the current economic climate, surveys have revealed.
In a report released by thisismoney.co.uk, they discussed how hundreds of parents are now choosing to take advantage of low house prices in order to help their children get onto the property ladder – some as soon as they go to university.
The Bank of Mum and Dad is alive and well, with estate agents reporting that parents are taking advantage of lower house prices to buy a home for their children.
According to Lloyds Banking Group, a fifth of parents give their children money to help them on to the housing ladder - often when they go away to university. Many have been encouraged to invest in property as a result of paltry interest rates on cash deposits.
But research by online property search engine propertylive.co.uk has found that parents may do better to pay for a two-bedroom flat rather than the usual one-bedroom property.
It found that in 17 out of 20 university towns and cities, including Birmingham, Exeter, Leeds, Liverpool, Reading and Sheffield, the annual income earnt from letting the second bedroom in a two-bedroom flat more than outweighed the additional mortgage repayments.
The calculations assume the buyer has a 15% cash deposit and a three-year fixed-rate repayment mortgage at 5.87%.
For example, on average a one-bedroom flat in Leeds costs £95,500 while a two-bedroom flat costs £137,500. Typical rent for a room in Leeds is £3,678 a year. With the difference in annual mortgage payments between the one and two-bedroom properties being £2,713, this gives £965 profit a year.
'Amid the gloom in the market, there are some great deals for young people wanting to get on the property ladder,' says Charles Smailes, chairman of Propertylive. 'By going for a two-bedroom rather than a onebedroom property, parents should see good returns on their investment.'
An additional benefit of letting a room is that the Revenue allows homeowners to earn £4,250 in rent a year tax-free when letting a furnished room in their home.
Other property search websites include primelocation.com and findaproperty.com, which let househunters scour the market for sales by postcode.
Last month, Lloyds launched its Lend a Hand mortgage deal for first-time buyers. This enables parents to put cash towards a deposit, but with the option to get that money back if the home rises in value.
More about the author of this article
Peter Franklin, Property Mentor Delegate
With 15+ years of property investment experience under his belt and an extensive knowledge of stocks and shares, Peter Franklin has learnt how to make a profit the hard way. If he has learnt anything from his time investing in property in the early 1990’s, right through to the height of the property boom of 2007, it is the importance of using proven investment strategies. Read more
To see a full list of our writers and find out more about them please visit the authors page.
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The strategies that we teach apply to everyone - if you are new to property you need all the advice you can get, and if you are an experienced investor you never stop learning.
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