Wednesday, 7 May 2014

3D Printing a Full Sized House!

Believe it or not 3D printing of a full sized house is currently being worked on by Architects in Amsterdam taking property construction to another level! Could this be the next step to creating an Eco-friendly home? 

The material used is a plastic containing plant oil which contributes to 75% of the mixture. The structure itself is printed in sections inside a shipping container, one room can require six to ten blocks. Once all the pieces are ready they will be fitted together to form a detached house with an estimated construction time of 3 years. A company in China is also putting the idea into practice taking it a step further by using recycled materials to build each structure, they claim to print bungalows for less than £3000.

So if we look at this realistically this is not a project that will make any changes in the way property is built but if you want a space which you can claim to be Eco-friendly then this is for you. After all it is important to take care of our planet and recycling is an important contribution. Creative people out there have already assembled or are creating their own Eco-living space from converting shipping containers to making the most of used vehicle tires, the possibilities are endless! We would all love to have our own little space to escape.

Beth Alexandra Property Specialists 

Thursday, 1 May 2014

Mortgage Rule Changes and Decrease in Lending

As released last week mortgage rules have changed, making it tougher for buyers to secure a mortgage. Lenders now take into account all outgoings of each applicant from how much you spend on a regular food shop to asking if you gamble. The interviews carried out by the lenders such as Santander, Nationwide, Natwest, Halifax, Yorkshire Building Society and Lloyds Bank, can range between one and a half to two and a half hours long. You may say this is a step too far but 1 in 5 first-time buyers regret not purchasing a cheaper property because they underestimated the costs involved in owning a property on top of all other spends. 

Prices are increasing throughout the UK, some areas more rapidly than others but now mortgage lenders have become more stringent, means it is less likely the hiking property prices will create a bubble and the system is more controlled. 

In the last 2 months mortgage approvals have fallen by 11.9%, it is too soon to say whether this is because of the new rules but it will certainly in the near future make an impact. Other factors could be the absence in property on the market so people are resistant to move. Howard Archer, the chief UK economist at IHS Global Insight has said ''it is likely that the further easing back in mortgage activity in March from January's peak level reflected some banks raising their mortgage lending standards before the new regulations''.
Whatever the reason may be it is a measurement we could be thanking in time to come.

Beth Alexandra Property Specialists