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12 posts from February 2008

February 27, 2008

Swissport to provide services at 2 Cyprus airports

Swissport to provide services at 2 Cyprus airports

4wallsandaceiling.com Newsletter

I found this document on the internet yesterday, again it really lends creadence to the islands USP's for investment.

For those of you who have not yet invested in Cyprus but are thinking about it, why not give me a call on 0800 0141859 and I'll talk you through it.

Alternatively we have produced an e-book which will guide you through the ins and outs.

Ebookbrochurecypruslarg_3 Click here to get your up-dated 2008 guide to investing in Cyprus

Swissport International has obtained the licences (for a period of 7 years) to provide ground services at Larnaca and Paphos airports on Cyprus, together with its partners G.A.P. Vassilopoulos and Cyprus Airways. The new operations are scheduled to commence on May 15. Swissport continues to expand. The world’s leading provider of airport ground handling services will soon be adding two new stations on Cyprus to its global operating network. The island is a leading tourist destination that receives over ten million air travellers a year. Around 40 per cent of the flights concerned are charter services, while the remaining 60 per cent are scheduled services operated by various international airlines.

Swissport is now teaming up with two strong local partners – G.A.P. Vassilopoulos and Cyprus Airways – to enter the Cyprus ground handling market, share in the recent substantial growth in travel volumes and position itself as the island’s leading ground services provider. The requisite licences were obtained through an international tender process under which airport authority Hermes Airports Ltd. has enabled two providers to benefit from the liberalisation of the local ground handling market. The total market volume for these two Airports is in the range of some 20’000 flights a year.

The G.A.P. Vassilopoulos Group is already well known to Swissport: the partners have been collaborating since 2005 under a joint venture offering ground handling services in the executive aviation sector together with certain GSA and ticketing functions. G.A.P. Vassilopoulos is a stock exchange-listed firm that is active in the cargo, shipping, hotel and insurance sectors. The company has earned itself a particularly impressive reputation in logistics and tourism, and is greatly looking forward to these new partnership activities.

With home carrier Cyprus Airways as its third member, the new partnership has even brighter prospects of success. While Swissport, as the industry leader, brings its professional ground handling expertise and its extensive international contacts to the venture, G.A.P. Vassilopoulos and Cyprus Airways will contribute their strong local roots.

The new ground handling operations are scheduled to commence at both Larnaca and Paphos airports on May 15, in good time for the peak tourist season. The new operation will be headed by Christian Draeger, who will perform this function in parallel to his duties as CEO of Swissport Bulgaria; and its Chief Operating Officer will be Chris Christopoulos, who joins the local management team from Swissport Corporate Development.

Juan Jose Andres Alvez, Senior Vice President and Head of Swissport’s European Ground Handling unit is delighted about this important decision: “ We are very happy about the ground handling liberalization process in Cyprus as well as with the strong partnership, allowing us to further strengthen our position in the South Eastern European market. This important step will enable our customer Airlines to get an excellent and competitive ground handling service for the upcoming summer period.”

Swissport International Ltd., which is owned by Ferrovial, a European infrastructure and service corporation based in Spain, provides ground services for over 70 million passengers and 3.2 million tonnes of cargo a year on behalf of some 650 client companies. With its workforce of around 30 000 personnel, Swissport is active at 187 airports in 43 countries on five continents, and generated consolidated operating revenue of CHF 1.9 billion (EUR 1 266 million or USD 1 583 million) last year.

February 26, 2008

Renting your computers evening, wednesday 27th Holiday Inn Ariel, Heathrow


Dear All,

Here are the venue details for the “Renting your computers” evening Wednesday 27th Feb 2008.

Holiday Inn Ariel (Heathrow)

Click here to go-to the Hotel web-page.

Click here for the "multi map" web-page.

We will be there between 7-9ish, the guys from Phoenix will be bringing along some stuff for you to look at, plus a chart so you can see the comparable savings you will make by renting as opposed to buying.

It really makes sense to do it this way, so I'll look forward to seeing you all then.

ALSO I've got some more interesting information about holiday letting in the UK. You remember the property down in Camber I told you about, we'll since telling you we have done some more work on it and come up with an ingenious plan that will put in some ingenius "hooks" to enable more letting traffic. I'll tell you more on Wednesday.

See you then

February 25, 2008

Mortgage Fraud...

Mortgage Fraud...

4wallsandaceiling.com Newsletter

You must read this article I found on the Financial Times web-site, Click here. It illustrates why you should ALWAYS obey the law when it comes to finance... and for that matter anything in my mind.

Ironically enough this is something that we covered, in depth, last weekend (17th Feb 2008) by Andrew Callen our favoured Solicitor at our networking event.

The problem with mortgage fraud is deeper than the initial fraud itself. Not only does it ruin peoples lives (by selling property to people on the grounds that it is a "no money down deal", only to hang these people out to dry because they have no business acumen to cope with the acquisition - thus causing reposession). This is morally wrong. Finally as and when the lenders/FSA clamp down on the situation, which they will do,  it makes our (you and me as professional landlords) lives harder... and that annoys me!

The only person that gets "stitched up" in a fraudulent transaction is the one you see in the mirror!

You can make a good living out of property without "dodgy" transactions.

This is why it is so important to understand what you are stepping into. All these property clubs that sell all those wonderful deals: the first thing you need to understand is how are they doing the finance or writing the contracts... if you don't know how to do this it is tantamount to buying a formula 1 car when you don't have a driving licence!

Ignorance is not an excuse in a court of law. You have to take responsibility for what you are doing, even if you are paying someone else to do it for you.

If you want to know more about the legal aspects of finance then please stay in touch. As I said earlier, last weekend we had a whole section on the Law Society and The Council of Mortgage Lenders Hand Book. By understanding this (and it's not rocket science) you will understand what you can and can't do.

Come along to our networking events, we tend to cover most topics that have relevance to lives as a landlord and usually more besides... you can never learn less!

Click here to attend our next networking event 16-3-08

February 22, 2008

Revealed: the best places in the world for retirement

Revealed: the best places in the world for retirement

4wallsandaceiling.com Newsletter

Do you feel you’ve had enough of the rat race and want to jet off to a life in the sun? Here are your options

RECORD numbers of Britons are fleeing the country for more appealing climates, lower taxes, more affordable property and fewer traffic jams.

Latest figures from the Office for National Statistics show that 200,000 people left Britain for good last year, and the majority of them were retirees.

However, many of those who live the dream underestimate the financial implications. Many couples retiring to Spain, for example, think they will pay lower tax, only to be hit by a wealth tax of 0.2% to 0.5% of their worldwide assets.

And many couples fail to realise that in Spain and France, unlike in Britain, inheritance tax can be levied on assets passed between a husband and wife – and the rate is 30% on average.
Related Links

    * Pensioners prove it is never too late to emigrate

Today, we reveal the best places in the world to retire, based on eight key financial categories – income tax, inheritance tax, property tax, property costs, ease of gaining residency, healthcare, climate and culture.

The comprehensive research, conducted by the Homebuyer and Property Investor Show, gave the 10 most popular retirement countries a mark out of 10 in each category, to come up with an overall score out of 80.

Cyprus tops the list of destinations because it has an income-tax rate of just 5% on pensions for retired residents, as well as low property prices and no inheritance tax. It also scores highly on related issues such as ease of gaining residency, low property buying and selling costs and benefits for pensioners.

Nick Clark, managing director of Homebuyer Events, said: “Not only does Cyprus offer a warm, sunny climate, it also benefits from favourable taxation and healthcare policies.”

Panama, now infamously the chosen destination of “back from the dead” canoeist John Darwin and his wife Anne, comes a close second. This is largely thanks to its pensionado scheme, which offers attractive discounts for pensioners (see below).


Southern Cyprus is a four-and-a-half hour flight from Britain. It is favoured by retirees because of its hot, dry summers and mild winters – not to mention its preferential 5% tax rate on pensions.

English is widely spoken and they even drive on the same side of the road as in the UK.


Retired residents from overseas are taxed on their pensions at the rate of 5% above about €3,417 (£2,554) a year, whether it is a state, company or personal pension. To qualify for the low rate, you must have lived in the country for at least 183 days.

Alternatively, you can pay the normal rates, in which case the first €19,500 is tax free, rising to 30% on €36,301. So the smaller your income, the better off you are under the normal system.

Remember that if you continue to have assets in Britain, such as bank accounts or an investment portfolio, you will still be liable for UK tax on any income, even if you are resident in Cyprus. Many retirees therefore move their assets offshore, and then bring the income into Cyprus, in which case there would be no tax to pay, according to Jonathan Spring-Rice of adviser Towry Law.

British retirees will also be attracted by the fact that Cyprus abolished inheritance tax in 2000. However, to benefit from this, expatriates will have to prove they have severed all links with Britain – and this may not be as easy as you think.

It can take more than five years and involves closing down all accounts and selling all UK property, and cancelling your registration with your doctor and dentist, among other things.

Property costs

Property prices in Cyprus start from about £77,000 – although the island is rapidly catching up with prices in more established retirement hotspots such as France and Spain.

Stamp duty is 0.15% for properties worth up to about £130,000 and 0.2% on more expensive homes, compared with 1% to 4% in Britain.

However, there may be property transfer fees of 3% of the first £65,000 or so, 5% on homes worth between £65,000 and £130,000 and 8% on those valued at more than £130,000.

Ease of gaining residency

Retired EU nationals do not require a visa to move to southern Cyprus, but they do need a temporary residence employment permit that should be applied for on arrival.

Those wanting to buy property must also prove they have adequate income or financial resources to live without working. The minimum requirement is about £8,000 a year.


Now that southern Cyprus has joined the European Union, pensioners from other EU countries are entitled to use the public health system.

However, there are few state residential nursing homes or hospices for the terminally ill on the island, so many people needing long-term care simply return home to Britain.

Ebookbrochurecypruslarg_3 Click here to get your up-dated 2008 guide to investing in Cyprus

February 21, 2008

Renting your computer equipment


Dear All,

Remember at the weekend (if you were there that is) that I spoke briefly about renting your technology/computer equipment as it is tax deductable and you can keep up-grading to the latest technology?

Well, I’ve had a number of people contact me to find out more on this subject.

I have therefore had a chat with “Phoenix”, the company that does ours, and they have offered to do an informal evening next Wednesday  (27th February - venue to be confirmed) after work between 7ish – 9ish to explain the ins and outs PLUS show you how much more cost effective it is to do.

We can only take about 20 and some places have gone already.  Could you let me know if this would be of interest to you?  This will be a very informal evening where you can see if this might be cost effective for you, and get all your questions answered by the experts.  I’ll get them to bring along a couple of Macs so that you can all have a “fiddle” with them ... If you get my meaning!

Let me know your thoughts as I need to know numbers ....

February 19, 2008

4walls_live_pic Thank you to everyone who attended our event yesterday.  It was great to see some old friends, and also to greet some new faces.  The turn-out was even better than last time, so we are going to have to look into hiring a larger room for our next event!

First of all, special mentions to delegates who travelled from as far away as Norfolk, Manchester, and Nottingham to attend.  We salute you and everyone else who gave up their Sunday to join us!

Nick Tadd opened the proceedings with a market up-date and property briefing for 2008, with all the latest information you need to be aware of.   This included the “heads up” on Efficiency Performance Packs which become mandatory for all properties being let and sold from October 2008.  Nick also advised of the coming roll-out of digital television which all Landlords need to be aware of.

Nick then continued with a well-received presentation on U.K. holiday lets for cash-flow.  He talked about his latest deal of a 2 bed holiday cottage on Camber Sands in East Sussex.  Nick explained how he intends to market this property to windsurfers, kite surfers, golfers, and kite buggy enthusiasts using the internet, specialist magazines, social networking, and clubs.  Many delegates found this presentation very thought-provoking, as the thinking behind the marketing can be adjusted for any property, and applied to holiday lets abroad.

Solicitor Andrew Callen then presented his “Guide to using Bridging Finance”.   Andrew’s message was that all transactions must comply with The Council of Mortgage Lenders and the Law Society guidelines.  Closed bridging is currently only viable on second hand properties but it is our belief that this creative finance technique will return to the market for new build at some point in the future.  Andrew was able to offer free bridging finance to all at our event.   Andrew would like to clarify that the free bridging is provided by a separate company and is an unregulated product and therefore meets with Law Society guidelines.

Nick then talked briefly (can Nick ever talk briefly?!?!?) about the importance of time management in your property business.  Most of us can find more money, but what none of us can find more of is more time!  Therefore, it is vital to recognise that time is more important than money!  To that end, 4 Walls and a Ceiling have produced the “Investor’s Kit” to help you to be efficient with your time.

Please click here for further details about our Investor’s Kit and what it contains.

Carlo Cavey, who purchased the Kit yesterday, called this morning with some instant positive feedback:  “I needed a Rent Guarantor’s Letter for one of my tenants and found it in the kit.  It was a simple case of cutting and pasting the template onto my own headed paper and filling in the appropriate details.  It saved me a lot of time and effort and I know the letter is professionally written and will stand up to scrutiny from a legal point of view”.

We actually sold out of our Kits on the day, but can supply them via the post.
Click here to order yours

Next up, Adam Demetri of Jewel of Cyprus talked about financing a property in Cyprus.  He also presented a new development in the beautiful village of Pervolia, near Larnaca, that was available with a 10% assisted deposit, so only 10% total financial input.  Cyprus has recently been voted the No. 1 retirement destination in the world, meaning that it will attract more and more people wanting to retire there to enjoy the benefits of low taxation on their pension, a more peaceful and healthier way of life, and the lower cost of living.  This is great news for investors as it will reaffirm that there is another “exit strategy” for your money.  With 30% capital growth predicted in Cyprus this year, following their entry into the Euro currency, there has never been a better time to get involved with the island.

Vanessa then presented on behalf of Jane Hughes of All Set To Let who was unable to attend due to a family illness.  Jane’s message was to keep in touch with your broker at all times to keep up-dated on the latest products, as the market is changing constantly.  Jane also suggested that a way forward in the current challenging conditions was to use a draw-down facility on your own residential mortgage.
Along with these great educational presentations, delegates were able to network with a large variety of investors at different levels, and share experiences.

Many people came up to Nick after he mentioned renting your IT/computer equipment is not only cost-effective (tax deductable) but effective as you can up-grade it as and when newer technology is available.   We have a recommended supplier, please call us on 0800 0411859 for their details.

Our next networking event is scheduled for: Sunday 16th March.
Please put a date in your diary now.

After Nick’s extensive explanation of holiday lets, and due to the overwhelming interest in the room to cover HMO’s, we will be presenting another session dealing with this cashflow rich strategy. Plus all the pro’s and con’s associated with it.  THIS WILL BE A MUST-SEE PRESENTATION as it has the potential to generate significant income for you.

We are lining up a presentation from Life Coach, Zara Tippey, who will be talking about how to overcome fear and procrastination to move yourself forwards in 2008.  This presentation will be particularly valuable for people who have been “thinking” about getting involved in property or those who are feeling a bit fed up with the current challenges in getting a deal through.  Remember, to get to your “yes” you have to go through a lot of “no’s”.  So every time you get a “no”, you are one step closer to getting that fantastic deal!   Zara will also be working with delegates and coaching them from the front of the room, as well as doing some actual practical exercises to help improve your communication skills.

Our very own Vanessa Warwick will also be presenting her “Top Tips to improving your performance as an investor”.  Vanessa has pulled together her tops tips from the past four years into one presentation to give you the edge.  Definitely not to be missed!

We would like to challenge you all to bring two people you know who might be interested in property investment.  As we grow the network, we will all benefit and move forwards through the group momentum!
We will be charging £10.00 entry to cover the cost of the room (includes first round of refreshments).  However, if you bring two people with you, you will have free entry to the event.

Thank you again to everyone who supported our event and we hope you got value from it.  Judging by the tremendous feedback, you did!!

Remember – you can never learn less and you can never know it all!

Our thought for the day:
We are what we repeatedly do. Excellence, therefore, is not an act but a habit.

February 15, 2008

If you are SERIOUS about property - you need to read this ...


Time is running out for you to reserve your seat at our fantastic networking day on Sunday 17th February.

We’ve already made the announcement that everyone who attends will be eligible for free bridging finance, saving you ££££’s thousands in bridging loan fees.

However, the benefits of attending our event just got even BIGGER, BETTER, and more BOUNTIFUL!

We’ll be exploring different creative financing techniques that comply with the Council of Mortgage Lenders and Law Society regulations.  If you are struggling to get deals through on new build property with discounts, you NEED to know about this.  It will help you do deals when other people are unable to.  This is a massive advantage to you in the current market place and you should make it your business to find out how to do this.  This new financing strategy that will have a massive impact on how you do deals in the future.

We will also be launching our fantastic new “Investor’s Kit”.  This is a CD-ROM with all the documents you need to deal in property.

It will save you HOURS in time, which is the one thing none of us have more of!  The kit includes:

·         A template of our professionally written offer letter for a house.  There is massive business in this
          letter, as it has helped us secure our fantastic “cash back” deals.  You NEED a copy of this letter to
          move your business forwards.  It has taken us three years to perfect this letter and it always
·         An AST for single occupancy and multi-let.
·         A list of the most valuable websites for property research on the internet.
·         A deal stacking analyser that assesses your deals on both single occupancy and multi-let,
          including accurately calculating your monthly expenses.
·         A “quick stack” calculation to work out the borrowing that a monthly rent will support.
·         A tenant’s particulars form.  (Every personal detail you need to take from a tenant).
·         A rental guarantor’s letter.
·         Portfolio tracking software.
·         Money-off vouchers for products, services, and events.
·         Details of how to vet a letting agent.
·         A list of the major U.K. developer’s websites.
·         Unauthorised occupancy letter.
·         Many other important documents you need to run your business efficiently and manage your time   

The retail cost of this outstanding investor’s tool is £39.99.  However, if you attend on Sunday it will be available for the introductory price of £29.99.

Click here to

How many more reasons do you need to attend our event?!

FREE bridging finance

FREE copy of Property Investor News for everyone attending

FREE and extremely valuable information about a new creative financing technique

The chance to buy our fantastic new CD-Rom Investor’s Kit at a reduced price.

FREE access to experts to get your questions answered.

Andrew Callen – Property Solicitor and serial investor (Powell Callen: www.powellcallen.co.uk)
Nick Tadd – our very own tame property guru and one of the most respected property speakers in the U.K.
Vanessa Warwick – finalist in the Bradford and Bingley Female Investor of the Year Awards.

FANTASTIC networking with investor’s at various different levels.

FANTASTIC opportunity to invest in Cyprus from as little as £10K TOTAL COSTS and extra incentives if you reserve at our event!.

If you are serious about investing in property in 2008, and overcoming the challenging conditions, then this is one event that you cannot afford to miss.

Date:  Sunday 17th February 2008
Time:  12.00 to 17.00
Venue:  Clandon Suite, Holiday Inn, Egerton Road, GUILDFORD.

Reserve your seat at events@4wallsandaceiling.com

Entry fee:  £10.00 to cover the room hire, pay on the day.  Tea and coffee included.

If you bring two people with you, you have FREE admission.

Come and join the fastest growing event in the South-East and use the group momentum, and our specialist knowledge and support to help you achieve your property goals in 2008!

Places are now limited, so please reserve your seat NOW to avoid disappointment.

February 11, 2008

Due to our FANTASTIC offer that everyone attending will be eligible for FREE bridging finance, places are going fast!


If you have not already registered for our networking event on Sunday, 17th February, then please get your registration in as soon as possible.  Due to our FANTASTIC offer that everyone attending will be eligible for FREE bridging finance, places are going fast!

At our last event in January, the room was filled to capacity with 80 property a-holics and we are expecting a similar response for the 17th.  FREE bridging finance will save you thousands of pounds in bridging loan fees, and with bridging expert Andrew Callen on hand to explain how to use this creative financing method, you have an amazing opportunity to bag a deal in the coming weeks!

All attendees will also receive a FREE copy of Property Investor News.

We at 4 Walls and A Ceiling firmly believe that networking and education are vital components of a successful investment strategy.  So don’t work in isolation – come and join a thriving community of like-minded people, who are all committed to property, and use the group momentum to move yourself forwards.

Please reserve your seat at  events@4wallsandaceiling.com.

We look forward to seeing you on the 17th February for a day of education, networking, and fun that will help you towards your property investment goals in 2008!

Time: 12.00 noon to approx. 5.00 p.m.
Clandon Suite, Holiday Inn
Egerton Road

February 08, 2008

Lenders call for buy-to-let mortgage regulation

Lenders call for buy-to-let mortgage regulation


Source: - Homemove

Nick Says…

This can only be a good thing as this whole market place, in my opinion, needs regulating. However, the regulating should not just be for the mortgage advice it should also cover the advice given by so called “property clubs” and “finders”. The good ones will have no problem but the “sharks” will get a kicking… and that can’t be a bad thing.

According to research by legal firm and repossession specialists, Moore Blatch, almost nine out of ten mortgage lenders want to see regulation introduced specifically for buy-to-let mortgage advice.

The results of a recent survey suggest that some new buy-to-let investors are ill prepared for the financial implications of their investment, prompting lenders to call on the Government to regulate buy-to-let mortgage advice as if it were an investment product.

In its research, Moore Blatch found that 68% of lenders expect buy-to-let repossession to increase, while 50% of respondents thought buy-to-let borrowers were extremely vulnerable to repossession.

Eighty-one per cent of respondents agreed that repossessions will increase overall in 2008, while 31% expect to see shortfalls increase following sales of repossessed properties.

Of the 68% of respondents who agreed that buy-to-let repossessions would increase, 38% expect this to be by up to 10%; a further 31% predicted a rise of between 10% and 15%.

Thirty-five per cent of lenders questioned believe that void periods (periods when a property is unoccupied) will be the most likely reason for repossession; 27% expect the rise to be fuelled by landlords’ inability to subsidise their mortgages.

Finally, the survey found that 54% of lenders expect an increase in litigation against mortgage brokers by landlords claiming they were not given risk-based advice.

The Government, which is responsible for determining the scope of regulation by the Financial Services Authority, has not yet indicated that it will consider regulating buy-to-let mortgage advice.

February 06, 2008

4wallsandaceiling.com Live! Networking Day - 17th Februaury 2008


Following the unprecedented success of our first networking event, which attracted over 80 property-a-holics, we are pleased to announce details of our next networking opportunity.

Please reply to this email with confirmation of attendance and let us know if your bringing anyone with you, we need to know numbers.

Entry:  £10.00 contribution towards the hire of the room.  Refreshments (tea/coffee) included.
Lunch available to purchase.
N.B.  If you bring two other people along, you can attend FREE!

If you want to attend please e-mail me at events@4wallandaceiling.com

Click here for the itinerary.

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