Eurozone interest rates cut to 1%

FRANKFURT - THE European Central Bank cut its main interest rate on Thursday for the seventh and probably last time to a record low of 1.0 per cent to boost activity in the slumping 16-nation euro zone.

In London, the Bank of England left its main rate stable at a record low of 0.50 per cent but said it would pump more cash into the feeble British economy.

In Frankfurt, economists wanted to know how the ECB and its president Jean-Claude Trichet can boost bank lending further amid a deep recession.

'Eurozone interest rates might well have reached their trough, but further unconventional policy support should be announced later today,' Capital Economics economist Jennifer McKeown said after the decision was announced.

'After last month's hints that a decision on such measures would be made at this meeting, all eyes will be on president Trichet' at a press briefing 'to see just how bold (or not) the bank will be,' she added.

The decrease of 0.25 percentage points made for a combined cut of 3.25 points since early October to the lowest level in the bank's more than 10-year history.

In London, the Bank of England said it would pump out another 50 billion pounds (S$110.6 billion) of new money into the economy as Britain battled its own recession.

Other central banks cut interest rates in the Czech Republic and Iceland, following decreases on Wednesday by peers in Norway and Romania.

Eurozone economists turned quickly to what Mr Trichet might announce within a framework of so-called quantitative easing.

QE amounts to a central bank creating money to buy government or corporate debt with the goal of easing a dogged credit squeeze and spurring growth. The measure most likely to be announced is an extension of the ECB's unlimited cash loans to commercial banks beyond the current limit of six months, to nine or 12.

An expanded range of collateral accepted in exchange for ECB funds is another move mooted by many, but UBS economist Stephane Deo said such measures 'represent more of a prolongation of the past strategy than a step change.' Mr Trichet could also tell markets the new low rate will be maintained for some time, which would mark a sharp departure from previous refusals to 'pre-commit' on rate policy.

Tate Properties Tenerife.

Your First Steps to Relocation

If you have watched the news lately, you will see the increasing demand for relocation. The first destination being Australia, the second Spain. Relocation to Australia, is a mamouth task, flights are so long, and the possibility of family visits, far and few between. Thats fine if your looking for a good excuse to stay away from the mother in law. But if you have close family ties, its just not an option. Starting a new life so far from home can be a scary thought, but what about rethinking the second option, relocation to Spain.
The Canary Islands are only 4 hours from the UK, and offer eternal summers, with low cost living. Fuel is cheap, energy is cheap and rates are low, based on property size and location. The average wage maybe slightly lower, but the reduction in everyday living really does tip the scale. Income tax is lower than the UK at 15%, against the UK 40%, and your social security contributions are paid by your employer. This makes up for the lower wage, and leaves you with much more to spend on living. The Spanish, and Canarian motto's are simply "we work to live, not live to work".
With the location of the islands just off the coast of Morocco the islands are blessed with sunshine 356 days a year. Yes we do experience the rain, around Febuary, when for once in your life you can say your glad to see it. Then from around March to January, the climate stays around 24 degrees, a perfect living climate, according to the UK National Health Institute. Afternoons can be spent lazing around the pleasant beeches, or mixing with the locals experiencing the Canarian traditions. Fiestas are a must for Spanish culture, and living Spain means becoming involved with your village days of rest, streets fill themselves with decorations, and laughter is heard from the young and old. Children play happily, and are not wrapped in cotton wool or imprisoned from the rain.
Relocating is now a simple process, the Islands are part of the EU citizenship, making emigration here a breeze. A visit to the local town hall once your settled will provide you with a temporary residency, this is adequate for your first few months whilst you are building your new lifestyle. The main thing you will need is an NIE number, which is easily obtained from the local police stations. These numbers are your Spanish Identity, and you will need to produce it on many occasions when making purchases on property, cars, or anything that needs are registration certificate. You can get settled before worrying about tax, and treat your first few months as a trial and error situation. Its not so much making the right decisions, as finding the right people to help you. There are many people claiming they know the laws of the land, as they have been residing in the Canary islands for over 20years, problem is it was 20 years ago when they filled any paperwork in for themselves. The best advice is to find established companies, who can offer you the correct advice. If you are purchasing property, you should receive all the help you need from the estate agents. They will take your hand and make the experience of relocation a breeze.
Property in Tenerife, is very reasonable, and you will find you can get alot for your money, especially in the local villages, out of the main towns. We carry an extensive collection of properties for sale, and can also walk you through the whole process from your door in England, to your new life in the Canary islands. We will take all of your essential requirements into consideration when searching for properties in Tenerife, or the Canary islands. If you have family, we will find suitable properties and help enroll your children into local schools. We can recommend translators, banks, lawyers and also put you in direct contact with future employers.
If you have worked in the property industry, you could even explore the option of joining our team.
Relocation to the Canary Islands, is not such a huge move, its only 4 hours away from your family,leaving the options open for family visits every month. If you have close family ties, you may even find, like us, your family decide to make the move with you. Once you have experienced life in Spain, its hard to imagine ever moving back to the UK, and helping the government survive.

Just how easy is Relocation

Relocating to another country, can be a daunting subject, one that many people think is just to difficult to comprehend. And if you have enough negative people around you, will never become an option. The problem we all face when considering relocation is we can be too selfish with our own needs, to consider the prospect of moving countries. But as the UK continues to slow into rescission and has no immediate prospects for the future, relocation becomes a more favorable option.

Its not easy to leave everything and everyone behind you, but we don't have to talk about the other side of the world, when the Canary Islands are a paradise in themselves. They offer so much to so many different genres. Family's can settle in rural accommodation and enjoy a traditional family atmosphere. Young couples can find spectacular work prospect and evenings full of excitement. We have good schools and further education as good as anywhere in the world. Exploring the option of relocation to Tenerife really is something to consider. Although the housing market in the UK is struggling, there are still fantastic opportunities to be had in Tenerife. Properties have also declined in value, but only to sensible prices, as the market two years ago over priced itself. Banks are offering mortgages and is some cases we can find you 100%. The Euribor base rate is still lower than the UK, offering mortgages at a more attractive rate. It dose seem to alot easier to obtain mortgages here too, the banks are a little more flexible, and are not facing the problems you have in the UK.
Property here in Tenerife can range vastly, from studio apartments in the middle of Las Americas for as little as 75'000 pounds, to magnificent villas in the rural countryside. Every taste can be catered for, every person accommodated, and lifestyles can change. Traditions are a huge part of society here, remembering why we are all so happy. Fiestas are held almost every weekend in some part of the island, making every weekend a holiday.
Tate properties are relocation experts, and can offer confidential advice on the whole process. The team can talk you through the relocation to Tenerife, and find some excellent opportunities available with property on the island. Tate Properties are a well connected estate agent, and can even offer you help in finding a new career. If you have been in sales before, you may even end up becoming part of the team.
So in answer to the question, relocation can be as easy as Tate properties, thats all you need to change your life, and begin living your dream.

Living Tenerife!

Tenerife has many times been called the island of eternal spring. The weather here never really changes; it is blessed with a never ending summer. This summer feeling is felt drifting through the streets with people smiling and laughing as the sun shines down. A traditional Spanish island mixed with the Canarian culture, offering Spanish fiestas on all most every weekend. Living here, offers a relaxed lifestyle, with a no rush attitude towards anything. Children are able to grow and learn from their childhood, whilst parents can relax and watch them grow. The education facilities are superb, with state schools less demanding than the UK, concentrating on the child's learning abilities, not their attitudes. The younger generation grow with much stronger family values, respecting the old, and learning from them. There are also excellent private schools which will teach an English education, or even mixed. The university in la Laguna is one of the finest in Spain, and is just one of many further education options the island has to offer. The economy has grown strong with the help of the EU, and is still benefiting dramatically from grants to improve the whole infrastructures. This has now spread into the local Spanish villages, which are still brimming with attractive Spanish culture. Living here, can be what you want it to be. If you prefer the more hectic lifestyle of nights out, night clubs, or partying, then the local tourist resorts do not stop, and are alive 24/7. If you are looking for a more relaxed place to reside, the island had some fantastic residential locations, away from the hustle and bustle of the tourist world. We can relocate you to the areas that will benefit you the most. Offering you the lifestyle you are looking for. We can relocate you and your family, seeing your children into the right schools and neighboring facilities. If you have pets we can even help with their relocation too!

Locations in Tenerife

Firstly why are we investing, is it for a new home, or a business venture. Buying to let can be a very profitable business with holiday makers arriving to the island all year round. Although we have seen a decrease in UK tourists, the Eastern Europeans are fast discovering the Canaries, and now the number one visitor to the island. This still keeps our buy to let market very favorable, and the opportunity to cash in on their new found wealth a reality. Property rents are still fetching high returns, paying the mortgage, and returning an exceptional investment.
If you are looking to buy a home, and relocate, then your necessitates will be different. Property in Tenerife can widely vary, and you can find a lot more for your money if you venture out into the local Spanish towns and villages, all brimming with culture, lovable people and great family values. The old are found happily congregating on the village corners and church squares, playing dominoes, laughing and chatting in the sun. The attitude of the young, still care and respect the older generation something we see little of in the UK. Locating a property in these charming villages is very attractive for those looking to start a new life.
If you have a family, then you need to consider the local schools, how far are the hospitals, where are the local amenities? All of these points will have a deciding factor when you are seeking your ideal property. Getting them right will save you thousands, getting them wrong could prove expensive.

Tate Properties relocation experts can help you find the right home or investment. Our customer after sales is renowned for the excellent service we provide. We can even help you into a profitable business, and find your dream home within your budget. Relocation to Tenerife doesn’t have to be a stressful experience. With the right team behind you, you can relax and take comfort knowing your life changing decisions are in safe hands.

Where do I Start?

We believe the Canary Islands are one of the best options, they continue to develop and are economically very stable. The seasons are minimal offering all year round summers and maximum property let potential. Property prices are stable, and although the market has slowed down,(as everywhere in the world has) it is still holding its value. Many of the properties in Tenerife have now been valued sensibly, and people in a position to purchase would find some extremely handsome deals available at this present time.

Mortgage rates remain lower than the UK, and 100% can be arranged. Although these types of mortgages can be more difficult to find they are still offered by high market banks, providing you can meet the set requirements. Interest only mortgages are still largely available, allowing you to settle into your new investment, and place it to let or resale. The property market in the Canary Islands can offer good solid investment with great potential growth.

Finding a well established agent, and building a good working relationship is essential and lots can be said by their websites. A good portfolio of property should be held with user friendly search tools to select possible properties. Building a good list of possibilities with the help of the agent should not be a daunting task. This is part of the relationship building you need in order to trust the working agents.

Tate Properties are only to happy to walk you through this whole process. Our professional sales team will invite you into their property portfolio with the right tools in mind. Understanding the client is essential to us, and aiding in their search, essential to our success.

We have developed the perfect property website, and search tools. Below is a useful tutorial video which will get you started on the road to overseas investment and property success.

Tate Properties talk Tenerife

Purchasing property in Tenerife is as straight forward as the UK, providing you find the right Estate Agent, who's established and has the experience you need. It’s pretty much the same process as the UK, give and take a few rules and regulations.

Firstly you need to decide on the reason you are buying, is it for investment? or a straight forward holiday home? Will you want to rent the property out, or keep it solely for yourself? These questions will certainly effect the location, and type of property you buy. Getting the plan right at an early stage and sticking to it, is a must. Do you intend to relocate or have a management company take care of the property for you? If relocation is the answer, then we also need to look at your necessities, like schools for children, local shops, complex or independent. Again, spending a few hours brainstorming will help tremendously, and save both yours and vendors time when viewing.
Once you have a set plan, and are happy with every angle of it, it’s time to begin your search. Finding the right Estate Agent will benefit you, and ensure your time is well spent looking at properties that fit your criteria. I have met many clients who have spent hours even days with agents, and have not been shown one property that ticked their boxes. If this begins to happen to you, my advice is walk away from them, as they are not interested in helping, only getting a sale. Of course, we all want the sale, but Tate Properties see you as a long standing investment. We want you to be happy with our services, and continue to help you with any other ideas you have. Once you have found a comfortable agent, you can then begin your search. Stick to your plan, and don't be swayed. There are lots of properties out there, and with the slowdown of the world’s economies, this is a buyer’s market. Find the properties that suit you, and your criteria, and get some history on them before you view. Knowing how long it’s been on the market etc, can help you with making good genuine offers. I suggest you view between 3-5 properties that suit your criteria, seeing more than this will often confuse you. Forgetting what was good about one and bad about another. If you get the early planning done as suggested, you will be picking exactly what you want, and have nothing more than taste to consider.
One you have chosen the perfect property, take a second viewing, after all we are purchasing a house not a new set of clothes. It’s ok to take a second look and re tick those boxes.

OK. Happy? Then let’s move onto the offer. As we previously stated, find out the history, knock the neibourgh’s door, they may speak or even be English. This is by far the best way to get the correct information and make some serious decisions. Once you’re happy, and you have the right figure in mind, it’s time to make that offer. I'm sure this will get batted about until both parties are happy, and when you are, its time to put the wheels in motion. This is where your Estate Agent becomes most valuable. If they have, like us, a full in house team, they will take care and explain every detail. Tate Properties prides itself on customers care, after sales, and the assistance of relocation. We can make your move or investment a wise one, hassle free and extremely rewarding.