• Increased profit: if your payments are lower, there is far greater scope to make a profit from your buy-to-let business. This also gives you stability and lowers the price of your overheads, which could be less than half of that when repaying a capital and interest mortgage.
• Overpaying: while it’s possible to make overpayments on an interest-only mortgage, this will typically only reduce the amount of interest outstanding on the mortgage. If you choose to do this, your profit will increase further, giving you more options to expand your portfolio.
• Your property’s value: in the long term, property increases in value. It’s not an absolute guarantee, but if you look into the past, despite short-term rises and falls, property values have significantly increased. This is not expected to change in the future. Therefore, it is reasonable to assume that at the end of the term of your mortgage (or if you sell up half or part way through your investment), there will be a profit between the capital outstanding balance on the amount you owe your lender and the selling price of your property.
• You can develop and improve the property: with more profit to plough back into your property, you can develop it. This will add to its value, ultimately increasing how much rent you can charge. And when it’s time to sell up and move on to bigger and better things, you will achieve a greater return on investment. The greener you make your property, the more rent it could fetch while future-proofing your investment.
• Security: preparing for the unexpected is a sure way to protect your investment. And by choosing an interest-only mortgage with fewer outgoings, you are already in a better position should the unexpected occur.
• You can always change mortgages in the future: as you become more seasoned as a landlord, you may devise a strategy so that you own your buy-to-let property outright. There is nothing stopping you from changing your mortgage type after a few years. And in the meantime, use the profit you make with an interest-only mortgage to use as a deposit, reducing the cost of a capital and interest mortgage.

• The Mortgage Guarantee Scheme: extended until the end of December 2023, this government-backed scheme has helped over 24,000 households get on the property ladder.** Its aim is to help people with a 5% deposit, and it was launched in April 2021. Aimed at first-time buyers, it’s similar to the government’s Help to Buy scheme, which ended earlier this year. So, if you want to take advantage of it, you need to be quick.
• 35-year mortgage deals: increasing the term of your mortgage could bring down the cost of your monthly mortgage payments. You may pay more interest because you are taking longer to pay for the home you want, but a property that may have been out of reach may suddenly be in your grasp.
• 100% mortgages: saving your deposit is often the biggest challenge to getting a footing on the property ladder. With the return of 100% mortgages, you no longer have this hurdle, and that will save you a lot of time, meaning you can start paying off your mortgage sooner rather than later.
• Interest only mortgages: another option to consider is an interest only mortgage, which could lead to much lower payments. If you have a lot of equity in your home, this could stand you in good stead when it comes to buying the home you want now.
• Green mortgages: many mortgage lenders now offer more competitive mortgage interest rates for greener, more energy-efficient homes. This, combined with lower energy bills, means that you could save significantly on your monthly outgoings. This means that the EPC rating of your home has never been more important.
• Consider porting your mortgage: porting allows you to move home with your existing mortgage. So, if you are happy with the terms of your current deal and it’s not about to end any time soon, then this could be a cost-saving solution. You may be able to borrow more, as many high-street lenders offer top-up mortgages. Speaking with your broker is important, as some lenders’ rules may differ.
• There is always a way: it could be that you are in the fortunate position of not needing to borrow or are on a fixed-rate interest deal. With the huge number of mortgage deals available and inspiring choices in properties, it’s worth talking to your agent if you are determined to make your move now.

It took an average of 37 days to sell a property in December last year, compared with 60 to 71 days for various regions throughout England.* And the Scottish property market has it all. Whether you are in the market for an island, coastal cottage, castle, or a characterful, modern, and energy-efficient apartment, buying and living in Scotland is simply magical. But there is a long list of pragmatic reasons that make moving in or to Scotland a better experience, and perhaps these are keeping the Scottish property market ahead of the rest of the UK. So, what are they?

A better buying process Buying is less stressful in Scotland, and getting gazumped is extremely rare. When an offer is accepted on a property, it’s taken off the market. So, the chances of somebody else sneaking in to make a higher offer are drastically reduced. Before a property is listed on the Scottish property market, the seller must provide a survey beforehand. In England and Wales, a home survey is carried out after an offer has been accepted. This more sensible approach could be a keystone to the success of the Scottish market

Serenity in spades 
Even if you have lived in Scotland for your entire life, it’s hard to take for granted the ubiquitous beauty that offers so much variety. Wherever your preferred location is, you are never far from somewhere special. Views from the Highlands, forests, mountains, lochs, and beaches are as enticing as the vibrant city life and culture that improve with every passing season.Good affordability and exceptional value for money  
Your money goes further in Scotland. The average price of property is considerably lower than that in England. And with affordability levels remaining good, the market is robust. With a number of finished properties ready for you to move into and a choice of projects waiting for you to put your mark on, your options are endless. From holiday homes to perfect places to raise a family and sound buy-to-let investments. It’s little wonder urban flights to Scotland from London and other areas in the UK is so appealing.

A change of lifestyle
With so many people leaving the city behind in all locations because they can work from home, suddenly what was once impractical is an idyllic and ideal way to live. Your options are opening, and many home movers are now making the most of the opportunity to create their property dreams. This helps keep the Scottish property market buoyant, which means your home is in demand.

Strong demand
The level of demand for high-end homes is outperforming the rest of the UK, and why not? For the price of a London flat, you could purchase an island. But it’s also the healthy economy and good demand for family homes or something more modest in town, city, or rural locations that anchor the market. And at the dawn of a new year, with better interest rates, there is a feeling of rejuvenation in the air. This will cause a flurry of new interest from far and wide, helping to keep the market in a healthy spot.

You can move quickly
Homes placed on the UK property market took an average of 34 days to sell in 2023*, this is a little longer than the ferocious pace of previous years. But currently, sales completions are taking less time due to conveyancers and removal companies not being backlogged. A nicely paced market without stupendous levels of competition from other buyers means that you can move to the home you want in good time. This year looks set to improve on all fronts, so you could find the right property and move quickly.

Renewed and optimistic interest
January and the build-up to spring bring an influx of homes to the property market. Many people who hesitated in 2023 because of a bleak outlook ringing in their ears, which never materialised, are now getting on with their moves. The outlook for 2024 appears increasingly promising as banks offer better interest rates. This pent-up demand helps in the negotiation of a fair price for the home you want to buy or sell. More and more homes enter the market, giving you greater choice. From cottages to castles, combining modernity with timeless character, greener homes, homes in need of modernisation, and rental-ready buy-to-let investments.

It's a mover’s market
Your home’s value is unique. With so many towns and cities still developing and positive influences on the market occurring, it can get confusing when it’s time to value your home. This makes your agent’s skills invaluable. Prices have both increased and decreased marginally; however, while they have been fluctuating, they have stopped rising at a rapid rate. This leaves you in a good position; you will get a good price for your current home due to rapid rises in recent years and recent renewed demand, but you will also pay a reasonable price as opposed to an overinflated price for your new home.

The advantages of higher interest rates    
You can’t be blamed for hating higher interest rates! The banks seem to win every time. However, if you are waiting for interest rates to fall so you can save money on your property purchase, then don’t. As interest rates fall, property prices will most likely rise, so your mortgage will essentially cost you the same amount. Mortgage providers are competing and offering an increasing number of products at more affordable rates. Products such as offset mortgages and porting (moving home with your existing mortgage) to longer repayment terms mean the banks aren’t all bad! And with higher interest rates, property prices don’t spiral out of control, and you get a better property for a cheaper purchase price in a more stable market. 

Your local agent makes moving easy
At a competitive price, your local agent is worth every penny in today's market. The fragmented and resilient UK property market is more complex than ever, so agents are vital for valuing your home correctly. This, combined with guidance in negotiation, means you will most likely save money and time. Agents want to keep the momentum in your home move as much as you do. But it’s their connections and market knowledge that can transform your move. Guidance and advice bring about emotional support and potentially a cheaper mortgage.

The journey to your ideal home is often not a short one, and if you’re contemplating taking the plunge into homeownership, you may consider renting first to test the waters. Renting provides the unique opportunity to ‘try before you buy’ and comes with a range of benefits that might just make it the perfect first move.

Here are some of the advantages to renting before you buy:

Flexibility and freedom
Renting allows a level of flexibility that buying a property does not. If you’re unsure about your long-term plans or if you’re keen on trying out a few different locations before laying down roots, renting allows you to relocate easily without being tied to a mortgage or any of the other commitments that come with owning a property.

Try out different areas
If you haven’t lived alone yet, it can be difficult to know what surroundings would best suit your lifestyle. Renting first means you can live in and explore an area before having to commit to it. It’s a great way to experience a different walk of life, try out local amenities, plan your commute, and get a feel for the community.

Maintenance and peace of mind
One of the perks of renting is that you aren’t responsible for major property repairs or maintenance, allowing you to save both time and money. This is a great way to ease yourself into homeownership, as you can focus on gaining your independence without feeling like you’ve been thrown into the deep end on your own.

Gain experience
Being a reliable tenant is a great responsibility to take on before homeownership. You can learn how to budget around bills, how to take care of a home, and what it means to live independently. This experience will be invaluable when you buy your first home, as it will enable you to hit the ground running.

Build your credit score
Being a responsible tenant can also positively impact your credit score, which might make it easier for you to secure favourable mortgage terms when you decide to buy a home later. If you pay your rent on time consistently, this will demonstrate your financial responsibility to mortgage lenders.

Learn more about yourself
Renting a home allows you to experiment and figure out what works for you long term. This is a valuable opportunity to understand what your home requirements are in terms of size and layout, which will help you make a more informed decision when the time comes to buy your own place.

Simplify your transition
Renting puts less pressure on the transition into independent living, especially if you’re going to be living with a partner for the first time. Living in a rental home first allows time to adjust to the responsibilities of maintaining a household and to experience cohabiting with another person without the immediate commitment of ownership.

Contact us today to explore the exciting possibilities that renting can bring to your property journey

With 2024 in full swing, the Scottish rental market is looking particularly lucrative for landlords. Whether you’re looking to enter the buy-to-let market for the first time or you’re a seasoned investor, now is an exciting time for landlords. Let’s look at three reasons why this is the case.

Rents have increased
According to an official publication from Rent Service Scotland, rental prices increased significantly last year. The average rent increases in Scotland during the 12 months leading up to September 2023 are as follows:

• 11.7% for 1-bedroom properties, reaching £648 per month
• 14.3% for 2-bedroom properties, reaching £841 per month
• 13.3% for 3-bedroom properties, reaching £1,026 per month
• 13.4% for 4-bedroom properties, reaching £1,656 per month*

These are very positive figures for landlords, as they will see their rental income grow, therefore giving them a greater return on investment. This money can then be re-invested to either purchase further buy-to-let properties, which will further increase their rental income, or to upgrade their existing properties, which could lead to an increase in market value.

Demand is high
Another reason landlords should be optimistic this year is that demand for rental properties is continuing to grow. Zoopla's most recent study discovered a 10% increase in demand for rental properties over a 12-month period.**

There are several reasons for this, including the fact that renting a home is easier for young people than accessing the property ladder. The fact that 46% of students in Scotland rely on the PRS sector for accommodation is a huge benefit to landlords because it significantly increases demand, lowering the risk of a decrease in rental income due to vacant properties.***

The supply of properties is set to continue increasing
The number of Private Rented Sector (PRS) households has grown significantly since the turn of the century, with the latest Scottish Housing Market Review revealing a 132% increase in PRS properties in that time.**** There are also a further 17,000 Build-To-Rent (BTR) properties scheduled in the near future in Scotland.

The fact that the supply of rental properties is consistently increasing is great news for landlords, as there will be a wider range of buy-to-let properties available to invest in. These purpose-built properties should attract tenants willing to pay slightly higher prices for an improved rental experience. The tenants who rent these properties are likely to be looking for long-term tenancies, which will benefit landlords as vacancy periods should therefore be reduced.

Final thoughts
There are several reasons why landlords are set to benefit from the Scottish rental market in 2024. Rental prices have increased significantly, allowing landlords to earn a higher return on investment, and the demand for rental properties is growing, particularly among young people and students. The supply of rental properties is also increasing, providing landlords with more options for investment and attracting tenants looking for long-term tenancies. 

With the help of a reliable estate agent, you can capitalise on the strength of the Scottish rental market and optimise your return on investment in 2024.

With the sea, sunshine, and happy holiday memories just around the corner, it’s time to prepare your property with a pillow of protection for when it stands empty. As a landlord, your property can sometimes be empty, leaving it exposed to more danger and the possibility of a break-in. For landlords, it’s important to keep the property looking alive in between tenants. So, here’s some advice on how to keep the property looking alive when you’re on holiday or when it’s standing empty.

Postal deliveries 

When your property is standing empty or you’re on holiday, it is common that post and parcels can pile up outside, creating the impression of an empty property. To prevent this appearance, it’s important to ensure your post is either redirected to your neighbours or that a close friend or relative collects your post regularly. Leaving post and parcels to pile up can give burglars a clear target.

Social media

We get it. When you’re having a blast while away from home, it’s easy to share all your fun on social media. But by posting pictures and updates on social media, you can inform burglars that you aren’t on the property. This can make your home an easy target, so it is best to delay your social media posts until you return to the safety of your home. It is common for thieves to use social media as a tool to help them decide when to target properties, so try not to make this mistake.

Home security

By increasing your home security, you'll be able to keep track of your home 24/7 when you're away. By having security cameras, or even a live-monitoring doorbell, you can know if any movement is happening in or near your property. Through having a home alarm inside your property, you can allow the alarm company to register any movement, and then they can inform the police if there is no answer to alert them that it was you. There are also apps that allow you to monitor your property through cameras and turn your lights on and off.

Minimise valuables in sight

When you're away from your property, you want to make sure it looks alive and liveable. This can be done by placing timers on lights and lampshades or by having someone live on the property (house sit) while you’re away.  However, be careful you don’t accidentally advertise your belongings in the windows, as this can encourage burglars and make your property a potential target. Don’t give burglars motivation; move your valuables out of sight before leaving your property.

Emergency contacts

When you are not always going to be around to protect your property, it is important to ensure your neighbours have your back. By getting to know your community, they can easily spot strangers wandering and identify burglars ahead of time. Having an emergency contact in place with a spare key allows the police to know who to contact if there are any issues when you aren’t near. Additionally, knowing you have a trustworthy emergency contact in place allows you to relax when you are away from your property.

Summer is the peak time for crime rates in the UK, with an increase occurring each year. Just implementing one of these suggestions could potentially deter burglars, reducing the chances of your property becoming a target. Ensure you have protected your property as a landlord or tenant, so you can feel relaxed when leaving your property behind.

Whether you’re a landlord or a tenant, insurance is an important consideration that shouldn’t be overlooked. Let’s look at the essentials of landlord and tenant insurance, why it’s important, and which types of coverage are available for your tenancy.

Do tenants need home insurance?

There is no legal obligation to take out tenants’ insurance unless it’s a requirement in your tenancy agreement, but this doesn’t negate its importance.  

While it can be tempting to avoid the extra cost of insurance, you could lose valuable protection if you opt out of coverage for your home. 

Landlords are responsible for insuring the property itself, but tenants are responsible for insuring their personal belongings. Here's what tenants should consider:

Contents insurance

Just like landlords, tenants can benefit from contents insurance to protect their possessions against risks like theft, fire, or damage.

Tenants' liability insurance

This covers your liability for accidental damage to the landlord's property. It's usually included as part of contents insurance, but it’s worth double-checking.

Tenant’s improvements insurance

If you've made improvements to the property with the landlord's permission, such as installing a new kitchen or bathroom, this insurance can cover the cost of repairing or replacing these improvements, in case of damage.

Do landlords need insurance?

Landlord insurance is also not legally mandatory unless stated in the conditions of your buy-to-let mortgage, but it is highly advisable for many reasons. Owning a rental property comes with the risk of financial setbacks, both minor and major, so insurance is a vital safeguard that is well worth the extra cost.

Building insurance

This covers the structure of the property against risks like fire, flood, storm damage, and vandalism. It’s essential to ensure your policy covers the cost of rebuilding, not just the market value.

Contents insurance (furnished properties)

If you rent out a furnished property, contents insurance can cover the cost of replacing or repairing items like furniture, appliances, and fixtures in case of damage or theft.

Liability insurance

This protects you from legal claims made by tenants or visitors for injury or damage to their property due to negligence on your part as the landlord.

Loss of rent insurance

In the unfortunate event that your property becomes uninhabitable due to damage covered by your policy, loss of rent insurance can provide compensation for the rental income you lose out on during the repairs.

Legal expenses cover

This can cover legal costs associated with disputes with tenants, such as eviction proceedings or rent arrears recovery.

Shared responsibilities

Landlords and tenants have different insurance responsibilities, and the extent of coverage is at their individual discretion depending on either mortgage terms or the terms in the tenancy agreement. Effective communication is crucial for ensuring adequate protection for all parties involved. Landlords should clearly communicate what is covered by their insurance policy and any expectations they have of the tenant regarding insurance. Tenants, on the other hand, should inform landlords of any changes or improvements they make to the property to ensure they are adequately covered.

The rental market is continuing to look strong for landlords as we head into summer, with Zoopla reporting a 7.8% increase in rental prices between March 2023 and March 2024.* Let’s explore how this increase benefits landlords and how a letting agent can help you increase rental prices correctly.

Benefits for landlords

Increased rental income

As inflation drives up expenses such as property taxes, maintenance, and insurance, landlords often adjust rental prices to maintain profitability and cover their investment costs. By making sure you don’t exceed inflation rates, you can remain competitive while still covering your expenses and improving your return on investment.

Financing property renovations

The additional rent income you earn from rental prices increasing can be allocated towards funding renovation projects aimed at enhancing the property’s overall value. These improvements could include upgrading appliances, improving energy efficiency, and modernising interior spaces, all of which can help you command higher rent prices and increase the property’s value to boost long-term profitability.

Mitigating financial risks

Increased rental prices also help you protect your finances and reduce the impact of unforeseen expenses, such as vacancy periods. Additionally, as you can allocate more funds to maintenance and repairs, you are less likely to encounter issues with your property in the future, further stabilising your income.

Why it’s important to set a realistic rental price

Tenant affordability

Although it may be tempting to significantly increase rent, it is important to keep any increases to a sensible level. Setting rental prices too high can outprice tenants and reduce the amount of interest in your property, potentially leading to costly vacancy periods. 

Tenant retention

Rental prices directly impact tenant satisfaction, so your current occupants are much more likely to stay in the rental property if they feel that they are receiving fair value for the rent they pay. If the rental price is too high, tenants could seek alternative housing options.

Market competition

An accurately priced rental property is a key component of remaining competitive in the market, as overpricing your property can deter potential tenants and lead to prolonged vacancy periods. Overall, setting a realistic rental price is essential to effectively navigate market competition, attract tenants, and optimise your property’s profitability.

How a letting agent can help you increase rent fairly

A letting agent can play a crucial role in helping you increase rent fairly by providing valuable market insights, professional guidance, and effective negotiation strategies. Using their expertise in the local rental market, letting agents can conduct in-depth analysis to guarantee that any proposed rent increase aligns with the current market conditions. 

Additionally, letting agents can advise you on the best timing and rate of rent adjustments to maximise rental income while remaining competitive and fair to tenants. By setting a realistic rental price that aligns with rental inflation, comparable rates in the area, and the property’s value, you can ensure that your property remains accessible and affordable for a broader range of tenants.

Let’s take a look into what Rent Guarantee is, how it works, and why you might need it for your property.

What is Rent Guarantee?

Rent Guarantee is an essential type of insurance if you rely on rental payments as a form of income. Typically added as an extra on a landlord policy, it covers you financially should your tenants fail to pay their rent.

In the event that your tenant falls behind on their rental payments, the insurance provider will reimburse you for the lost rental income, typically up to a specified limit and for a certain period.

What does Rent Guarantee cover?

Rent Guarantee can cover your monthly rental income by up to £2,500 for a maximum of 12 months if the following applies:

• Your tenant has fallen at least a month behind on rent
• Your tenant is refusing to leave the property following an eviction notice
• Your tenant has deliberately caused damage to the property
• You are in a dispute with your tenant over repairs or renovations to the property

Most policies will cover around 50% of your rental income while you search for new tenants and will continue to pay out up to three months after the previous tenant has been evicted. 

Do I need Rent Guarantee?

Rent Guarantee insurance protects you against the financial implications of rental arrears caused by tenant default, legal expenses incurred in evicting tenants, and sometimes the cost of property damage caused by tenants. 

If you are financially dependent on your rental income, then rent guarantee coverage is a must. However, if your tenants have been through a thorough screening process, then the risk of tenant default may be lower.

Assessing risks and requirements

Evaluate the risks associated with your rental property and tenants to determine the level of coverage needed. Factors to consider include the reliability of tenants, the local rental market conditions, and the financial implications of potential rental arrears. Additionally, familiarise yourself with the eligibility criteria and requirements set by insurance providers, such as tenant referencing checks and minimum tenancy periods.

Choosing the right policy

Research and compare rent guarantee insurance policies from different providers to find the best fit for your specific circumstances. Consider factors such as coverage limits, excess amounts, premium costs, and any additional benefits or exclusions. 

Tenant screening

While Rent Guarantee insurance provides financial protection, proactive tenant screening and due diligence remain crucial in minimising risks and ensuring a stable tenancy. You have poured a great deal of time and money into your buy-to-let property, and therefore you need to know that it is in safe hands.

Your agent can conduct thorough tenant referencing checks, including credit checks, employment verification, and previous landlord references, to assess the reliability and financial stability of prospective tenants. 

Maintaining the right balance of your income spent on rent is crucial when getting involved in the rental market. By sustaining this balance, you have a better chance of creating financial stability and retaining a comfortable way of living. One-in-five of the UK's residing tenants spend more than half of their income on rent, reducing their overall financial freedom dramatically.* Renting a home allows you to have a freer, enhanced lifestyle; it's not meant to burden you financially.

Why should you rent?

Renting is a great way to create your own safe space from the outside world without becoming permanently tied down. When renting, there are some well-known guidelines to help steer people in the correct direction on how much of your income should be spent on housing per month. There is no one-size-fits-all situation when it comes to your home, you should rent whatever property suits you and your lifestyle.

What affects the price of rent?

Multiple surrounding factors of the property affect the price of rent, and you need to ensure that these align with your lifestyle and overall budget. Considering these important factors can help you navigate through the rental market and discover what price and property is right for you.

Location – When choosing your new home, location will always have the largest impact on the price. Choosing to live in a city increases the monthly rental cost because the property will be close to a variety of shops, activities, and opportunities.

Type of property – More space leads to a higher price, so deciding how many bedrooms and bathrooms you require can help you discover a perfect budget. Having access to certain amenities, such as the rental property being furnished, or parking can also influence the price. It is important to recognise your needs in a property before committing to your new home.

Rental market trends – Local and national trends easily influence the cost of rent, especially supply and demand. It is important to observe all rental market trends constantly, allowing you to stay in the loop and enter the market at the right time. Renting through a letting agent can help you identify good opportunities in the market and make well-informed decisions.

The infamous rental guidelines

Finding a place to call home can sometimes feel overwhelming, but proactively planning your income with one of these guidelines can help you feel confident about how much you can afford. These are some well-known rules to help guide you to the correct cost you should potentially be spending on housing.

30% rent rule – This renting rule has been a very popular model since its establishment in 1981. This rule suggests spending 30% of your gross income (before tax) on housing costs, as over 30% could create a strain on your monthly finances.  This is the best guideline to use when starting out in the rental market, as it helps you identify an affordable budget.

Under 30% rent rule – Commonly used, this rule is for people able to live in more affordable areas, allowing a larger increase in financial flexibility. This rule is in place to show people that they don’t have to spend the full 30% of their income on rent and still get their desired home. This allows you to save and live a more luxurious lifestyle.

50/30/20 rent rule – This rule is a great guide to use when you begin to have a steady monthly income and allows you to maintain a stable budget. 50% of your income should be spent on your needs, which would include rent, bills, and any constant outgoing monthly costs. 30% can be spent on your wants, allowing you to continue to enjoy life outside of work hours, and 20% should be placed in savings for a potential house deposit or any debt that needs to be covered. 

What’s your end renting goal?

When renting a property, you want to ensure that it is the right property for you. It is a personal decision based on your individual preferences and needs. These rules have been put in place to provide vague guidelines, ensuring that no one becomes lost when entering the rental market. Make sure you have identified your budget, monthly expenses, and what kind of lifestyle you want to lead, before entering the rental market.

Moving home is about getting the numbers right and, of course, finding the right property. The good news is that on both counts, things are getting better, with home moving numbers on the up. But this is only part of the story of moving. As estate agents compete for your business, their levels of expertise and service improve, which is more good news for you.

Prop-Tech

Like most industries, the benefits of rapidly improving technology makes it easier to connect people to your property. Thanks to improved property technology or ‘prop-tech’, agents can present your home to a vastly higher number of buyers in more efficient ways. You are constantly informed about the latest market updates or potential homes through emails, e-zines, 3D tours, hosted videos, social media, and live chats to answer your burning questions day or night, not to mention automated searches and instant valuations. These tools all help in showcasing properties to a wider audience.  

Attention to detail

Through utilising your estate agents’ expertise, such as their experience, market knowledge and property intellect, you can rest assured knowing the utmost attention to detail is being paid. Place your mind at ease knowing your property is being positioned in the market relative to local activity and using market insights. Furthermore, your estate agent will endeavour to add a human touch and use their in-depth knowledge to aid with face-to-face valuations and accompanied viewings in order to find you the home which you truly connect with.

Placing the right value on your home

While today’s market is looking good with buyer and seller activity improving, it’s never been more important to place the right value on your home. It’s tempting to go with the agent who places the highest value on your property. Some homemovers will accept the first-highest valuation from an agent, only to sell later with another agent for a more realistic price. Today, good agents can place the correct valuation on your home derived from a combination of solid data, experience and their understanding of the market. The UK property market is more complex and differs from one region to another, making the insight of a good local agent imperative. 

Communication and support 

Agents have learnt, as perhaps we all have, that communication is key to making most things in life go smoothly. You do not want to be left wondering about how your sale is progressing. Often, agents get blamed for a slow solicitor or a break further down in the chain. A good agent will constantly update you, keeping you firmly in control of your move. As you move through the property-buying or selling process, your mind can be full of what-ifs and worries. Modern estate agents have the right people in the right places so that you get the best and latest advice to keep you from feeling anxious. Teams made up of valuation experts and seasoned mortgage advisors are complemented by recommended  conveyancers who will not want to keep clients waiting around where possible. 

Final thoughts  

Ultimately, you want to ensure that the right value is placed on your home, with an attention to detail paid and experience expert communication throughout your journey. Thankfully, estate agents today have the skills and tools necessary to ensure this is possible like never before. 

So many of us love nothing more than to get out in our gardens at this time of the year, and rightfully so. A garden can be an area to socialise, to take in nature and a safe space to unwind and relax. The question remains, what do you want from your outdoor space this summer?

Entertaining spaces

With the longer, warmer days of summer, your garden can be a space to entertain. The choice of how you do this is yours. If feeling connected to nature is important to you, placing outdoor furniture centrally, immersed in nature could prove to be worthwhile. Additionally, if you wish to host and entertain into the evening, installing a firepit can allow you to stay warm once the summer sun goes down. British weather can be unpredictable, installing a pergola could provide shelter for the wetter days, while also providing shade when the sun is at its brightest. 

A place to invite nature

Nature can add a certain magic to an outdoor space, and it doesn’t have to be solely in the form of flowers and shrubbery. Creating a space which invites wildlife can allow you to re-connect with nature, through seeing plants, animals and birds thrive in a space you have created. There are a variety of ways to do this, whether it be planting wildflowers to encourage butterfly and bee visits, placing birdfeeders to attract an assortment of birds, or purchasing hedgehog feed from a local garden centre. These are a few examples of what can be done to attract wildlife; and it’s important to remember to have appropriate ‘viewing points’ to appreciate your new guests’ company. 

Sunset seating

Watching the sunset can provide a variety of health benefits, including stress reduction, improved sleep quality and a boost in mood. This is why it is important to note where the sun sets in your garden. If possible, creating a space where you are able to enjoy the sunset can provide you with an activity to look forward to everyday and boost the secretion of melatonin and serotonin- our feel-good hormones. Building an area to relax in the evenings, perhaps one where you’re able to enjoy a well-deserved drink from an outdoor seating area could provide to be a worthy investment. 

Makeover or make a move? 

An effective method to get garden ideas and inspiration is to seek inspiration from other properties. This can be done through browsing magazines, TV programmes and social media in order to stay in the loop of gardening trends. If you do find yourself looking, and feel a strong connection to a specific garden, it may be worth exploring possibilities with your local estate agent, particularly if it’s a garden which is unfeasible in your current space. With the property market performing well, a great level of choice, and reasonable pricing, you could purchase a home with the garden that you have always wanted.

loveproperty*

• The gross rental yield is the total amount of money your property makes before expenses. This is calculated using the price of the property and the income generated by the property.
• The net rental yield is everything you make after expenses. You can calculate this by adding the price of the property to the income generated through rent, and then subtracting the associated fees and costs of owning the property.

1. Multiply your monthly rental income by 12 to get the annual figure
2. Divide that figure by the property’s purchase price
3. Multiply that figure by 100 to get your gross rental yield percentage

• Local government services
• Education
• Social care
• Waste collection and recycling
• Transportation
• Public safety
• Parks and leisure facilities
• Housing services
• Emergency services

Your home is your most valuable asset, and while the market is in a good position, it could be tempting to place your own price tag on it and try your luck. However, the reality is that you can’t rely on guesswork when it comes to determining your home’s true value. Let’s explore why.

While the UK average asking price can give you a rough idea of how the market is holding up, local factors are more significant to the true value of your home. Factors such as proximity to amenities, school catchment areas, local crime rates, and quality of transport links all hold weight in the overall value of the property.

2.You could set an unrealistic price

Setting an unrealistic price could be more detrimental to your sale than you might think. For starters, many buyers use online filters to find suitable properties. So, if you’re asking price is too high, your home won’t land on their search page. 

Secondly, your home’s asking price should be competitive. If similar homes in your local area are asking for much less, they’re likely to secure a buyer before you do.

Lastly, overpricing your home takes away some of your power to negotiate. An outlandishly high asking price can put off potential buyers, leaving you having to settle for an inferior offer. You could also be at risk of ‘gazundering’ or down-valuing later in the process, where your options could be limited, and again, you might have to settle for a much lower offer than you hoped for.

Conversely, even a well-informed guess could have you selling yourself short. Without expert insight, you may miss current local trends that have caused your home to spike in value. Underselling your home is another example of setting an unrealistic figure, leaving you in a poor position to negotiate with the buyer and could cause you to settle on a lower price than your home deserves. 

Accurate property valuations are important to most major banks and lenders, and your buyer will most likely have one carried out early into the sales process. Guessing your home’s value is risky business when it comes to securing your next mortgage, as overestimating can leave you in a tricky position once your buyer has their valuation carried out. 

You’ll need clarity on your borrowing capacity from the get-go before you can apply for a loan, as this could save you a great deal of time and uncertainty when applying for your next mortgage deal.

Market averages are important, but they aren’t everything. Unlike online assessments or guesses based on similar properties, an expert valuer will consider your home’s specific characteristics and overall condition before they settle on a figure. This includes things such as layout, repairs and renovations, building age, and anything that makes your home unique and enticing to today’s buyers. 

As we head into the summer months, the property market is continuing to bolster as an increase in market activity continues to benefit home movers. Let’s take a look at recent property market data and how the current market conditions benefit sellers and buyers alike.

Recent market data

According to Zoopla's house price index, there were 20% more properties for sale in March 2024 than the previous year.* There was also a 9% rise in sales agreed during this time period.*

This rise in market activity is partly due to an increase in the average working wage and an overall robust job market, both of which boost consumer confidence. In fact, confidence in personal finances has reached the highest level in more than two years, according to GFK's Consumer Confidence Barometer.** This made homeowners considerably more interested in buying a new home, therefore increasing market activity.

Benefits for buyers

More choice

An increase in market activity leads to a wider range of choices available for buyers to consider. This improved choice empowers buyers to explore various properties, compare features and prices, and ultimately make more informed decisions that align with their preferences and needs.

Price stability

The market remains well balanced as the demand for properties and the supply of homes for sale have equally increased. Because of this, prices are less likely to fluctuate, potentially making for a more stable investment. Increased market activity also helps to create a clearer picture of the true value of properties, further contributing to stable pricing.

More negotiating power

Due to increased confidence, buyers have the opportunity to be more assertive when negotiating a price for a property. Since the supply of properties is so high, buyers are less desperate to secure a particular property and can carefully consider their options.

More opportunity for investment

For those looking to invest in property, the increased supply increases their options massively. In a busy market, investors can buy a property, make renovations, and sell for a profit in a shorter timeframe.

Benefits for sellers

Increased demand

With more people in the market for a new home, sellers can command higher sale prices for their properties as buyers engage in bidding wars. By achieving a higher sale price, sellers can then look for a higher-value property than they previously considered possible.

Faster sales

The increased level of demand makes it easier for sellers to find potential buyers, which can lead to faster sales and less problematic property chains. Additionally, if a buyer is particularly interested in a property, they may be willing to pay a slightly higher price to secure a quick sale.

Flexible terms

Strong demand can give sellers the upper hand in negotiating certain terms. For example, if the seller needs to close the sale quickly, they can choose the buyer who is in the best position to complete the transaction as soon as possible.

Less pressure

In a balanced and active market, sellers may experience less pressure to accept lower offers or make compromises that they're uncomfortable with. They can feel confident that a more suitable buyer will soon show interest and make a better offer.

How an estate agent can help

Estate agents use their in-depth knowledge of the property market to assist buyers and sellers alike in taking advantage of summer 2024’s active market. They have access to a wide range of property listings and can help movers identify suitable properties that match their needs and preferences. They are also skilled negotiators who can secure favourable terms and prices while guiding movers through every step of the process.

Buying a first home is no easy feat, which is why many first-time buyers turn to the Bank of Mum and Dad for that extra bit of help. If you’re eager to help get your adult children on the property ladder, let’s take a look at ways you can help them take their first step.

How can I help my child buy a home?

The term ‘Bank of Mum and Dad’ refers to parents who offer financial support for their children’s major life expenses, such as buying a house. This is usually through a gifted deposit or a loan, but if you can’t afford to gift a large sum of money, there are mortgage options available to help them buy their first home:

• Retirement interest-only mortgages
• Guarantor mortgages
• Family offset mortgages
• Joint mortgages
• Joint Borrower, Sole Proprietor mortgages

• Your photo ID and proof of address
• How much you’re gifting
• Your relation to the mortgage applicant
• Where the funds are currently
• Confirmation that it is a gift and that you won’t have any financial or commercial stake in the property (usually a written statement)
• Proof that you are in a financial position to gift a deposit.

As summer rapidly approaches, on the back of a more than buoyant spring, homemovers are achieving good asking prices and getting offers accepted on their new homes. House prices are firming up, instead of rapidly rising, due to sensibly paced house price inflation. This creates good buying and selling conditions; however, it’s as important as ever to price your home correctly, so you can ‘mind the gap’.

What does ‘mind the gap’ mean? 

‘Minding the gap’ refers to the difference between the asking price a vendor is willing to accept and the agreed selling price of a home. The good news is the gap is narrowing, with the average difference between the asking price and the agreed sale price growing smaller, with average discounts at 3.9% in March, falling from 4.5% in November 2023.* These figures are yet more proof of an improving market. In some cases, this gap may not exist and it’s also worth remembering that homes are usually priced knowing that there will be room for negotiation. 

The art of negotiation

When an agent places a value on your home, they will do so knowing that buyers, will more often than not, try to negotiate on price, so they will take this into account. As a seller, you want to achieve the best possible price for your home and as a buyer, you want to get a lower than asking price offer accepted. Your agent or agents, if you are selling with one and buying with another, are working in your best interests. So, when it’s time to negotiate, even though it’s completely up to you what price you want to offer or accept, listening carefully to your agent's advice is crucial. 

Your home and your position in the market are unique 

Your home is as unique as you are, and may achieve more than the asking price, if it gets a lot of buyer interest. This could bring about a sealed bid. Even if this does not happen, you may not have a gap between your asking price and the agreed selling price of your home. On the other hand, if a cash buyer makes an offer below your asking price, then you may decide to accept the offer so you can make your move more quickly. Setting the asking price correctly in the first place should mean you will not have to reduce your price by too much. But, that does not mean you should simply choose the agent who places the highest value on your home.

The best valuations are not always the highest 

A good agent will value your home thoroughly, which is what you want. This is because they will find the features and positives of your home, its location, and the local market, so you can achieve a good selling price. It may be tempting to choose the agent who places the highest value on your home; however, it’s not always a good idea. Overvaluing your home can lead to your sale becoming stale. Some homemovers have found that they sell with a second agent, after not selling with their first choice, because the asking price was set too high.

Know your market 

In March, the percentage of asking prices achieved in the UK stood at 96.1% and with a 9% increase in sales agreed, the market is getting stronger.** However, your local estate agent will be an expert in your local market and in advising you on how to prepare your home for sale. They will also put local market analysis and a database of buyers to good use which will help your home find the right buyer at the right price. It’s good to keep track of the market yourself, by checking out recently sold prices, and comparing the condition of other similar properties. Then you can come up with the right pricing strategy with your agent, that gets you to where you want to be, without a big gap.

Zoopla*
hometrack**

Applying for a mortgage can be a daunting and scary experience, especially if it’s your first time. We are here for you throughout your application process, ensuring that you are fully prepared. We’ve created a simple checklist to ensure you have the best chance at securing a good mortgage offer.

Register to vote

Any lender is likely to turn you away immediately if you haven't registered to vote. Now this may seem confusing at first, as what does voting have to do with buying a home? If you have registered to vote, it provides the lender with background information and allows for a trusted confirmation of your current address and grants the lender access to your credit history. 

Prepare proof of your income and deposit

Providing proof of income is important to lenders as it allows them to see your reliability with past repayments. The lender may want you to supply evidence of your payslips for the past three months to prove your income and that you can afford the mortgage you are applying for. They will also want to receive evidence of your deposit and that it is easily disposable to the bank after the mortgage approval. By having these documents prepared, you can show that you are organised and reliable, placing confidence in the lender.

Double-check your credit history

When applying for a mortgage, it is imperative to check your credit history. A bad credit score is one of the largest factors that will influence a lender to reject you onto a mortgage programme. It is essential to double-check your credit history to ensure that it is all correct, as if not, you allow yourself sufficient time to dispute this prior to the lender checking your credit history.

Furthermore, it is important to improve your credit score as much as possible in the six months leading up to your application. This will aid in you showing the lender that you are reliable with repayments since lenders will be evaluating your repayment reliability and overall credit responsibility. 

Pay your bills on time

When possible, you should strive to pay bills in a timely manner. Overdue payments can tarnish your credit score, however like all credit issues lose impact the older they get. In most cases, lenders will primarily focus on the six months leading up to your application. Due to this, it is important to be cautious of your repayments, especially in the build-up of a mortgage application.

Reduce your debt-to-income ratio

Your debt-to-income ratio is the proportion of debt you have, in your name, compared to the amount of income you are earning. The higher this number, the more debt you have in proportion to your income. Lenders favour applicants with a lower ratio, as this provides lender confidence in your ability to reliably pay timely mortgage repayments.

Joint mortgage?

If you are applying for a joint mortgage, then it's vital that you also check this list with all applying, as if one of you doesn’t match the lenders criterion, you will be turned away. Don’t let this be you and get ahead of the mortgage game by getting prepared; you’ve got this!

With the seasons changing, the UK property market is beginning to heat up. In light of the current economic climate, you can be excused thinking the housing market may be in decline, however this is not the case. Here are a few reasons to be optimistic with an increasingly bright property market. 

New normal

In the past, accepting increased mortgage interest rates was something the consensus of the general public was not willing to do; however there has been a shift in mindset as this is beginning to be considered the ‘new-normal’. Buyers have accepted paying slightly more interest in return for a house which is less prone to rapid pricing changes and instability. Good levels of affordability increase the palatability of the so-called ‘new-normal’ as home movers are no longer waiting for sudden changes in the market. 

Improving market conditions 

The number of sellers coming to the market was 12% higher than last year, with the number of sales agreed up by 13%.* And with over 96% of asking prices being achieved, moving conditions are more than good.** Other positives, such as 0% stamp duty up to £250,000, (£425,000 for first-time buyers) until March, 2025, and increasing mortgage choice are bringing more buyers to the market. Reasonable pricing, thanks to house price inflation remaining under control, means you can achieve a good asking price, while not overpaying for your next home, and is a win-win situation for home buyers and sellers.  

Pricing in perspective  

House prices are settling rather than rapidly growing.  You may say ‘house prices feel high’, however it’s important to put higher interest rates in perspective and the same goes for house prices. Inflation can blur the reality of house prices. Simply put, houses are not as expensive as you may think, when you compare how inflation has increased the prices of goods and services generally. Interest rates in years past have been three times higher than today's level. The bottom line is mortgage rates and house prices can represent good value for money.

The advent of 1% deposit mortgages 

If 1% mortgages become more popular, it will have a lot of positives for the market. Allowing first-time buyers to get on the ladder for a fraction of the deposit normally required, makes buying a first home much easier. Some lenders may require a minimum deposit of £5,000. However, compared with, by way of example, £12,500 or a 5% deposit traditionally needed to buy a home valued at £250,000, means first homes are suddenly more accessible. This could have positive ripple effects for the entire market as demand for second-stepper homes increases. This is because starter homeowners will achieve good selling prices thanks to increased demand, and then use the extra gained equity to move on. 

Your agent’s skills have never been more important 

The market may be heating up but that’s no reason to be complacent. As the housing market becomes more realistic and stable, it requires greater attention to detail, and smaller gains have a bigger impact. The market is still erring on the side of caution, hence you don’t want to do anything that upsets your home’s sale. This is especially true when it comes to pricing and marketing your property. However, with all that the market has going for it, moving for most people is about buying a home they love. Achieving the right price and making the process as straightforward as possible are important, but nothing compares to the emotional impact the right home brings. 

Rightmove April House Price Index*
hometrack March House Price Index**

With the property market heating up as we head into summer, it’s a great time to start looking for a new home to buy. To do this, it is crucial to understand the mortgage options that are available to you, so let’s take a look at the different types of mortgages on offer in Scotland.

Fixed-rate mortgage

The interest rate on a fixed-rate mortgage remains unchanged for the duration of the loan, which is usually two to five years. This is appropriate for you if you want the security of knowing the exact payment amount each month, however it does prevent you from accessing lower interest rates if they fall during your fixed-rate period.

Variable-rate mortgage

A variable-rate mortgage can change at any time depending on the fluctuation of the Bank of England base rate. This means that your monthly payments will fluctuate based on updated interest rates, which can allow you to benefit from falling interest rates. However, it is important to prepare yourself for the potential of an increase in monthly payments if rates go up.

Guarantor mortgage

A guarantor mortgage is an arrangement in which a third party, typically a family member or close relative, agrees to guarantee the mortgage repayments on the borrower's behalf. The lender typically uses this arrangement when the borrower, often a first-time buyer or someone with a limited credit history, does not meet the lender's eligibility criteria.

Essentially, the guarantor pledges their own assets or income as security for the mortgage, assuring the lender that they will receive the repayments in the event of a borrower default.

First-time buyer mortgage schemes

In 2023, the Help to Buy scheme was replaced by the LIFT scheme, a shared equity plan designed to assist individuals in buying their first property in Scotland. The LIFT plan is divided into two very similar sub-schemes, but only the New Supply Shared Equity (NSSE) scheme is accepting new applications currently.

The NSSE scheme allows first-time buyers to purchase a new-build property from a council or housing association. This scheme requires you to cover just 60 to 80% of the property’s cost, while the Scottish government holds the remaining share. You will then have the option to purchase a larger share of your home further down the line, at a rate of 5% per year.

The shared ownership scheme

Through the shared ownership scheme, first-time buyers and individuals on lower incomes can own a portion of a property and rent the remaining amount. Your stake can range from 10% to 75%, and this can be increased in the future if you wish. This scheme offers an affordable way for you to step onto the property ladder and eventually reach full ownership in the future.

Second home mortgages

A second home mortgage is a loan taken out to finance the purchase of a second property that is not your primary residence. You typically need a 25% deposit for a second home mortgage, and you must have enough income to pay off your existing mortgage in addition to this. A 3% Land and Buildings Transaction Tax is applicable to all second homes in Scotland, regardless of their value.

As a landlord, it is important to be aware of the legislations regarding EPCs as its significance continues to grow with time. Currently in Scotland, to let out a property, you are required to meet a minimum EPC rating of D. The Energy Performance of Buildings Scotland regulations were set in 2008, and if not met, you could receive a minimum fine of £500.*

What is an EPC rating?

EPC stands for Energy Performance Certificate, which rates the efficiency of energy within the property. This is ranked on a scale from A (most efficient) to G (least efficient), and the certificate stays valid for a period of ten years. The EPC certificate will also provide you with ways to improve your home's efficiency to boost your rating for your next assessment. 

Why do we have EPC ratings?

The EPC rating has been put in place to reduce carbon emissions from homes, creating a positive impact on the environment in the future. As a landlord, your EPC rating certificate should be available for current and prospective tenants to view at any time, and you are required to advertise your letting property with a clear EPC rating.

How is my EPC rating calculated?

Numerous property-related factors are taken into consideration when grading your property’s EPC rating. An energy assessor will conduct an assessment and study the contributing factors in your home, which are your overall energy costs, your property’s internal layout, the boiler, insulation, windows, your central heating system, and any hot water tanks.

Why is it important to have a high EPC rating?

This can be used as a unique selling point and help attract more tenants to your properties, as people become more aware of their environmental impact. This can also lead to an overall reduction in property maintenance, which would result in fewer costs.

How can I improve my EPC rating?

When you have your EPC assessment, you will be granted a certificate, which will advise you on ways in which you can improve your rating. The most common methods for improving your EPC rating are; installing insulation within the home and surrounding pipes, light bulb replacement with energy-saving bulbs, upgrading your boiler and heating system, installing solar panels, a smart meter, and double or triple-glazed windows. 

What does the future look like for EPC ratings in Scotland?

Before March 31, 2025, landlords in Scotland will be required to have an EPC rating of a D or above to be able to continue to let properties. If this requirement is not met, it could result in a fine. In 2025, the Scottish government plans to potentially introduce a deadline for your EPC ratings to be calculated above a C, which most likely won’t need to be met until 2028.**

It is clear the required EPC ratings will continue to rise. So, as a landlord, it is important to stay ahead of the game and keep that rating high to continue to have success in the Scottish rental market.

Gov.scot*
Yateshellier**

When buying a property, there are several additional costs you pay as well as the home’s actual price. These can range from legal fees, surveyor fees, moving costs, and Stamp Duty. In this article, we discuss the UK's infamous Stamp Duty, exploring its definition, introduction, and evolution over the years.

What is Stamp Duty?

Stamp Duty is a tax you pay when buying land or a freehold or leasehold property over a certain value. The amount of Stamp Duty payable is determined by the price of the asset, how it will be utilised, and whether you own any other property. If you're a first-time buyer, you're currently exempt from paying Stamp Duty on your first property purchase for up to £425,000.

Why was Stamp Duty introduced?

In 1694, Stamp Duty was originally introduced to England as a transaction tax to raise money for the war against France. It first appeared on documents required to sell land, properties, and any other legal transactions. If documents did not have this ‘stamp’, they were not legally valid, which made sure everyone paid Stamp Duty. 

The money raised by Stamp Duty tax was used to fund goods throughout the war, such as newspapers, clothes, hats, patent medicines, and much more. This tax was originally intended to only last for four years, but since then, Stamp Duty has remained present in English society to current day.

Stamp Duty in the past

1765 - Stamp Duty was introduced to the British-American colonies. This tax began to rise, triggering the start of the American War of Independence.

1808 - Originally a fixed amount, Stamp Duty became introduced as a percentage of the value on transfers of properties, land, and shares of what was being transferred.

1950 - If you bought a property with a higher value of £30,000, you would only need to pay one percent of Stamp Duty.

1991 - Due to the major recession in 1991, Chancellor Nigel Lawson increased the Stamp Duty threshold to stimulate demand in the property market.

1992 - As demand grew, the rates were reverted to their original state (£30,000) in 1992. Over the years, the rates steadily increased, matching inflation and the rise in the cost of living.

1997 - In 1997, Chancellor Gordon Brown introduced two different bands of Stamp Duty tax: a lower and higher threshold. These responded and increased due to the rise in house prices.

2014 - Fast forward to the 2000s, when progressive charges were introduced. First-time buyers were announced to be exempt from Stamp Duty on properties up to £500,000.

2020 - A worldwide pandemic hit, and the UK government decided to introduce a Stamp Duty tax holiday to boost property purchases. This allowed all property purchases up to a limit of £500,000 to be Stamp Duty tax free.

Stamp Duty in the present

Currently, Stamp Duty is payable on all property purchases. The amount payable is all dependent on the value of the property. A property valued up to £250,000 has 0% Stamp Duty payable, as well as first-time buyers being able to buy a property with a value of up to £425,000 and pay 0% Stamp Duty.

If you purchase a property between £250,001 and £925,000, you will have to pay 5% Stamp Duty and if the property is valued between £925,001 and £1,500,000, you will pay 10% Stamp Duty. Finally, any property above £1,500,001 has 12% Stamp Duty payable.

Stamp Duty in the future

So, as you can see, Stamp Duty has been around for over 329 years! And it shows no sign of going away. With a change of election having occurred in July 2024, the future of Stamp Duty is most likely going to change. The main change that has been announced to occur under the new government is first-time buyer relief.

Currently, the first-time buyer relief is set at £425,000, but the new Labour government plans to reduce this to £300,000 in April 2025. Labour have also decided to introduce an extra 1% raise on Stamp Duty for non-UK residents, meaning the surcharge will increase to an extra 3% when they purchase a residential property in the UK.

The past of Stamp Duty

TheStandard*

StampDutyRates*

Napb*

The present of Stamp Duty

GovUK*

The future of Stamp Duty

TheNegotiator*

LimeProperty*

Whether you decide to release equity in your home largely depends on your individual circumstances. Whether you are looking to increase the size of your pension pot or simply want to make some home improvements, you have a lot of options. We can’t advise you, but we take a closer look at some of those options.

What is equity release?

Equity is the amount of value you own in your home after you have subtracted any borrowings, such as mortgages on your property. Releasing equity from your home, in the simplest terms, means using some of that value in exchange for cash. There are a number of different ways to release equity depending on your needs.

Ways of releasing equity

Re-mortgaging 

If you are interested in borrowing more money against the value of your home to make home improvements or even for debt consolidation, this may be an option. If you use your existing mortgage provider, then you may be eligible for additional borrowing. This allows you to borrow more money with your current mortgage. This means if your mortgage is on a better rate currently, you may end up paying more interest. On the other hand, you may choose to find a new mortgage provider in order to get a better mortgage interest rate. 

Lifetime mortgages

Aimed at homeowners aged 55+, this type of mortgage allows you to borrow a proportion of your home’s equity. You could do this in one or a series of lump sums, while drawdown allows you to take equity as and when you need it. Interest will then be charged on the amount you borrow, which will be repaid when your home is sold. Most mortgage providers will allow you to repay up to 10% each year on the loan amount you borrow as equity from your home. It’s important to check that the scheme you choose comes with a no-negative equity guarantee in case mounting interest exceeds the value of the property in future years.

Home reversion 

Targeted at homeowners aged 60+ this scheme involves selling part of your home to the lender for a lump sum or an agreed income for a percentage of its market value. For example, you may sell 50% of your home for 30% of what it’s worth. While you can carry on living in the home, you will only receive a percentage of the market value for the share of your home you sell to them. This makes this scheme less popular than a lifetime mortgage due to its costly nature. When the home is sold, the revenue from the sale is divided according to the percentage each party owns, which includes any increases in value. 

Could downsizing be a better move?

If you need to fund your retirement and find yourself in a position where you have too much space, downsizing could be a better option. Most people are not best pleased about taking equity out of their homes. It can be a complicated and confusing process, which could erode any inheritance you leave for loved ones. Most people prefer the idea of owning their homes outright. Moving to a smaller, more energy-efficient property could give you a lump sum to fund your future plans without relinquishing any part of your home ownership. 

Discuss your property options with a good agent 

Sometimes properties themselves can hold the key to new opportunities and the solution to a better future. So, whether you want to downsize and use the profit from selling your old property to start a property portfolio, help family get on the ladder or to retire, it’s worth talking to your agent. Maybe you are making home improvements and want to know how much value you can add to your home. Perhaps you have hatched an ingenious plan that could involve letting part of your property to build a nest egg. Whatever your plans are, it's important to seek the right advice.

Even if you have not found your perfect property yet, you know that you don’t want your move to be a long-drawn-out affair. Having the right team in place to guide you really does make a big difference. So, here’s a few things to bear in mind that could help to speed up the sale of your home.

Create killer kerb appeal

From windows to weed-free paths and a nicely presented front door, your home’s kerb appeal is the face of your home. It’s most likely the first thing your potential buyer will see online and in person. Check the guttering, mow the lawn, and give that area of your home a good brush. It’s often the combined effect of these basics that makes the biggest impact. Don’t forget your garden and other outdoor spaces; they are just as important as any other room in the house.

Good first impressions matter

Making your home look pretty is a surefire way to attract buyers. Arranging furniture in a way that creates a feeling of space will make it more appealing to buyers. Clean, decluttered spaces with small elements of staging show your home’s features off in the best possible light. Set the scene by dressing your home and setting the table nicely or arranging cushions on beds but remember to be subtle.

Ask for the right asking price

Homes that are set at the right price will sell more quickly than homes that need to be reduced later. In fact, if you overprice your home and then reduce the price later, it can put buyers off. Consulting your agent so that you can get the price right in the first place is important. That said, the market is in a good place and many buyers are achieving their asking prices, so leaving room for a little negotiation is not a bad thing.

Choose the right conveyancer 

One of the biggest delays in sales completions can be caused by waiting for your conveyancer or that of your buyers’. Before you move, try and find a good conveyancer; they will handle the legal process of buying your home. While this can take time, some are far more efficient than others.

Place importance on your paperwork

Gas certificates, building control certificates, EPC ratings—any paperwork that you need to progress your sale should be close to hand. Not having the right documentation can slow your home sale or, worse still, put buyers off. If more than one home sale slows in the chain, then delays become compounded. So, it pays to be organised.

Make your home appealing to cash buyers

Whether you are selling to a cash buyer or a buyer who is taking out a mortgage to buy your home, addressing structural issues or repairs can be beneficial. If you are interested in selling as quickly as possible, then pricing your home to make it appealing to cash buyers could significantly speed up your sale.

Communication is key 

Finding a good agent and keeping in touch throughout the selling process will give you a heads up on how best to prepare for the expected and the unexpected. Agents are eager to advise you on preparing your home and can introduce it to buyers from a database of hungry homemovers. They can also recommend good conveyancers, mortgage advisors, and other property professionals that could help speed up your sale.

Choosing the right home to rent can be a decision influenced by many variables. One of these variables will be the type of tenancy rent agreement the landlord offers. Your tenancy agreement is the most important document throughout your entire renting process, so it’s crucial to get this right. Let us help you understand the difference between an inclusive and non-inclusive rent agreement.

What is a tenancy agreement?

A tenancy agreement is a legally binding contract between the tenant and landlord outlining all the responsibilities and rights throughout the renting period. It highlights your right to let the property out as long as certain requirements are met for the duration of the tenancy. There are many different tenancy agreements available to suit different tenant and landlord needs. Your landlord has the responsibility of organising the tenancy agreement and choosing the desired requirements.

What is a non-inclusive rent agreement?

A non-inclusive rent agreement is where the landlord will not take any responsibility for the bills. Tenants must organise their own bills by communicating with providers. These bills can include utilities such as electric and water, a TV license, broadband, council tax, and any other monthly outgoings related to the property.

What are the benefits of a non-inclusive rent agreement?

As a landlord, choosing this type of tenancy agreement will allow you to have less responsibility throughout the tenancy, meaning you only need to calculate the rent costs. If you’re a landlord with a large portfolio of properties, a non-inclusive rent agreement could be a good option.

As a tenant, a non-inclusive rent agreement allows you to secure the best deals for your bills, as you will be responsible for choosing the providers and negotiating the costs. This allows you to manage your own bills effectively and provide a peace of mind.

What is an inclusive rent agreement?

An inclusive rent agreement is where the monthly payments also include and cover a predefined set of household bills. This is usually more common in short-period tenancies such as student housing, allowing tenants to hold fewer responsibilities for the tenancy.

What are the benefits of an inclusive rent agreement?

As a landlord, you can discuss deals with providers and ensure that all the bills are in order and paid for. This type of tenancy agreement opens your property to a wider range of tenants, creating a higher demand and leading to shorter vacancy periods between tenants. 

As a tenant, this agreement allows you to place trust in your landlord that all your bills are being sufficiently funded through your monthly payments, creating less hassle. It allows you to have more flexibility, as utility bills are commonly done yearly for the best deals.

What are the benefits of using a letting agent and management service throughout your tenancy?

As a landlord or tenant, ensuring you have the right contract in place is crucial. By utilising the support of a letting agent, you are guaranteeing that the correct practices will be put in place. As a landlord, a letting agent will help you every step of the way. From finding the right tenant to managing the tenancy contract correctly, we know exactly what needs to be done.

Consider outsourcing property management with the help of a letting agent; this allows you to make sure all your affairs are in order and allows you to grow your property portfolio.

It should not be the case but sadly for many tenants, winter will be a bigger ordeal than it should be thanks to unscrupulous landlords. Feeling cosy in a nice home for winter is simply magical and very important. 

A good EPC rating

EPC certificates show how energy efficient a property is and are graded from A to G, with A being the most energy efficient and G the least. So, it’s in your interests to choose a property with a higher rating. It’s been a legal requirement since 2018 for rented properties in the UK to have a minimum energy rating of E. EPC recommendations can include improving floor insulation, replacing boilers, and fitting LED light bulbs. So, picking a property with a good EPC rating will insulate you from the winter months.

Inspect the property thoroughly 

Don’t underestimate yourself when it comes to carrying out a visual inspection of the property when you are viewing it. The property description will specify its features and EPC rating. But it’s comforting to check for yourself. So, take a look at the windows, the location of the boiler, and the condition of the appliances to get a feel for how well-insulated the property is. If the property appears and feels fresh and well-maintained, then chances are it is.

Ask the right questions

Good agents are a fountain of knowledge, so use it. The more information you can find out about your potential new home, the better. You want to feel as settled and as happy as possible with your new home. This comes with the peace of mind a property expert can bring to the table. From understanding your lease to protecting your deposit, and all the other details of your tenancy that matter to you. Then you will feel more relaxed in your home when it’s time to snuggle up for the winter.

Rent with support

Property maintenance should never be overlooked. Sometimes renting can lead to tenants finding themselves in a property with a myriad of maintenance issues. Renting through an agent could provide you with the opportunity to choose a fully managed property. This will offer 24/7 maintenance support, meaning issues get addressed quickly. But there is more to a home than maintaining it. Finding a home in the right location so that you are close to the people or the things you love all makes for a happier life.

Enlist the help of a good agent 

It’s certainly not impossible to find a good property independently but using an agent will make it easier. Having a third party that ensures your home is compliant and is just a phone call away has a lot of benefits. A good letting agent will be there to represent you throughout your tenancy. Yes, agents also represent the interests of landlords but because of this, tenants benefit from living in properties of a higher standard, which is ideal for keeping the winter at bay.

Moving into a new home is a huge life event for anyone. But for children in particular, it can stir up a mix of emotions, both positive and negative. As parents, it’s essential to recognise these emotions and consider how you can make moving less daunting for your little ones.

Let’s take a look at how moving can affect children emotionally, what signs to look out for, and how to make them feel more positive about the big change.

Why moving can be hard for kids

Moving can be a challenging experience for kids because it disrupts their sense of security and familiarity. Leaving behind a home where they've built memories, made friends, and settled into routines can feel overwhelming. The uncertainty of a new environment can also make them feel anxious.

Signs your child might be struggling with the idea of moving

When children are struggling with the idea of moving, their emotions can manifest in different ways. You might notice your child becoming less interested in activities they usually enjoy or more irritable than usual. They may become clingier as they seek reassurance on the move. Additionally, sleeping patterns might be disrupted, and nightmares may become more common.

Preparing your kids for the big move

Preparing your kids for the big move is all about open communication and reassurance. You should talk to them about the move well in advance, explaining why it's happening and what they can expect. Address any concerns they might have, whether it's about leaving friends behind or starting at a new school. By making them feel understood and heard, you can ease their anxiety and help them approach the change with a more positive mindset.

If your child is still feeling negative about the move, don’t be too concerned. According to a study from Zoopla, 77% of kids say they prefer their new home once they’ve moved. *

Involving your children in the moving process

Involving your children in the moving process can help ease their anxiety and give them a sense of control during this big life change. Let them participate in tasks like packing their own belongings or choosing the colour for their new bedroom walls. Framing the move as an exciting adventure where they can make their own decisions can change how they view the experience.

You could even make it fun by letting them decorate moving boxes or creating a moving-day playlist together. The more engaged they feel, the smoother the transition will be for everyone.

Helping your child adjust to their new home

Once you’ve moved into your new home, it’s important to create a sense of familiarity and comfort in the new environment. Giving them some freedom and choice over how they want their room set up can make them feel more involved and in control. Making their first week in the new home fun is also crucial, as making happy memories early on could quickly alleviate any anxiety they may have.

Supporting your child after the move

After the move, it’s important to encourage open conversations where they can express any concerns or negative feelings they may have. Keeping familiar routines in place wherever possible can provide a sense of stability, as it keeps overall change to a minimum. Taking them to local parks or clubs where they can start forming friendships can help them acclimatise. But remember, every child adapts at their own pace.

Whether you're a long-time homeowner or you’re thinking about selling, keeping energy costs low not only saves you money but can also increase the appeal of your home to potential buyers.

Here are some practical tips to help you save on energy bills and enhance the overall energy efficiency of your home.

Unplug your devices

‘Phantom electricity’ is the energy that your electronics consume while they’re on turned off, but still plugged in. While unplugging might seem like an unnecessary measure, phantom power is estimated to account for almost a quarter of an average energy bill! *

Unplug your devices and appliances at night or before you leave the house, and you’ll notice the benefits when your next energy bill comes in.

Draught-proof windows and doors

Unless your home is brand-new, it’s easy for heat to escape through draughts around windows and doors, gaps in the floor, or through the chimney. Professional draught-proofing is a fairly affordable investment which will certainly save you money in the long run. However, if you’re happy carrying out a few DIY tasks, you can still see great results from DIY draught-proofing. Methods include:

• Self-adhesive foam strips for windows
• Letterbox flaps and brushes
• Chimney draught-excluders
• Flexible fillers for floorboards

Install a smart meter

A smart meter can help you both monitor and reduce the energy you’re using at home. They offer real-time data on energy usage and costs and send readings automatically to your supplier, meaning there’s no need for estimated bills.

Some smart metres also have settings that can reduce energy consumption when the house is empty or during peak hours.

Invest in insulation

One of the most effective ways to reduce your energy bills is by improving your home’s insulation. Poorly insulated homes lose a significant amount of heat through the walls, roof, and floors. While there is an upfront cost, the long-term savings on heating bills can be substantial, and the improved Energy Performance Certificate (EPC) rating could make your property more attractive to buyers. 

Loft insulation is quick and easy to install, and the benefits are endless. It’s estimated that a quarter of heat is lost through the roof of an uninsulated home, and if installed correctly, lost insulation should pay for itself many times over its 40-year lifespan. *

Upgrade your boiler

An old, inefficient boiler can be a significant drain on your energy resources. Modern condensing boilers are much more energy-efficient and can save you hundreds of pounds a year in heating costs. If your boiler is more than 10 years old, it might be worth considering an upgrade. Some homeowners may also qualify for grants or subsidies to help with the cost of a new boiler, so it’s worth exploring your options.

Consider an energy supplier switch

Don’t just accept the energy tariff you’re currently on – shopping around could save you a lot of money. Use comparison websites to check if there are better deals available and consider switching to a fixed-rate tariff to protect yourself against future price hikes. Many energy companies also offer green energy tariffs, which could align with your sustainability goal and make your home more appealing to eco-minded buyers.

Energy saving trust*

Many homemovers in Scotland are on the move thanks to its vibrant market. It takes an average of 31 days to sell a property in Scotland.* That’s about half the amount of time it takes to sell in most of the rest of the UK. Many people who had made up their minds to move during the summer have now settled into their new homes.

Good weather for moving 

There is always enough good weather left in autumn to move. But even if you are just starting your move with selling times being so strong, you could be moved-in more quickly than you think. This time of year also gives you good conditions to prepare your home for sale by carrying out any repairs and good viewing weather to get a feel for your next property.

The season of change and a fresh start

Autumn is the season of change and change is hardwired into many of us. A fresh start is appealing to many, whether that’s in the autumn, the new year, or the spring. Moving does not have to be a rushed process; you may begin your search now with a view to moving in the spring. It’s important to find the right property, achieve a good asking price for your current home and feel assured and comfortable with guidance a good agent can provide. 

It's a little less frantic 

The market is in a good place, but you may find that there is a little less competition if you are starting your search in autumn. This could mean a quicker conveyancing process and removal firms’ books may be a little less full. Properties have their own personalities, and your needs will differ from those of the next person. However, this time of year may give you a bit more breathing space.  

A better home for the festivities 

Perhaps you want more space for a bigger dining room table or simply love the idea of being in a new home to enjoy Christmas or the December break. Even if you are not moved in to enjoy the festivities, it’s knowing that it’s only a matter of time. This year many families will be enjoying their first Christmas in a property with the features they love. 

Moving to Scotland 

Many homemovers are drawn to Scotland from elsewhere in the UK or further afield by the stunning scenery, rich culture, the vibrant nightlife, and affordable prices. If you are

interested in purchasing a second home, perhaps as a holiday let or as an investment, some choose to buy in autumn to take advantage of the good market conditions.

The right time is your time 

The best time to move is the time that suits you. So, in many ways, there is no such thing as the right time to move. It’s more important to feel confident and happy about taking your next step. You may want to take your time and having the right team on your side is important. On the other hand, yesterday might not be soon enough. Taking advantage of your agent’s in-depth knowledge will help you to achieve your property goals.

While interest rates are becoming more competitive, they are still not at the ultra-low levels of the past. If you are a property investor, there is no doubt that this will increase your costs. However, the good news is that despite the higher cost of borrowing, rental yields are higher.

More rental homes are needed 

According to an analysis conducted by Rightmove, 120,000 rental properties are needed, helping to increase average rents in the UK by 7% on average compared to last year outside of London.* There are no quick fixes to this level of demand, and even if there were, there would still be a demand growth level of 2%.*      

What are rental yields?

Rental yields help you calculate your return on investment (ROI) by giving you the percentage annual return your property generates against its purchase price.

Gross rental yield 

To calculate gross rental yield, simply divide annual rental income by the purchase price of the property and multiply by 100.  

Net rental yield 

To calculate this, simply subtract expenses such as mortgage payments or maintenance costs from your annual rental income and divide by the purchase price of the property, then multiply by 100.

Increasing rental yields 

According to Zoopla, the average rental yield in the UK sat at 5.60% based on the average purchase price of a buy-to-let property of £261,897, with an average monthly rent of £1223.** According to Fleet Mortgages, average rental yields for 2024 Q2 stood at 7.6%, which is an increase of 1% compared with the same time last year.***  

More competitive interest rates and the ‘new normal’ 

With a new government helping to breathe more certainty into the UK property market and inflationary targets being met, there are expectations of more competitive buy-to-let mortgages appearing. There is also a sentiment that interest rates are now at a ‘new normal’. Perhaps they were too low for too long, and because of this, buyers and investors became accustomed to unsustainably low interest rates. If you go further back in time, interest rates could reach double figures, so in the grand scheme of things todays rates represent good value. However, existing landlords may benefit from greater levels of equity, reducing their mortgage costs. 

Take the long-term view

Taking a long-term approach to investing in the buy-to-let market throws up a lot of potential advantages. As you gain equity in your property as your buy-to-let mortgage balance reduces, while your property’s value potentially increases, you could enjoy the benefits of a solid investment. Investing in fixer-upper properties and making savvy investments in up-and-coming areas are ways of potentially increasing your ROI more rapidly.

Void periods are spells of time when a rental property is left unoccupied and is therefore not generating income. Naturally, void periods are something you want to avoid as a landlord, and while some instances are unpreventable, there are a few ways you can protect yourself against the impact of lengthy void periods.

Set a competitive rent

Your pricing is one of the most critical factors in attracting and maintaining tenants. Make sure to research the local market to get a better understanding of the going rates for properties similar to yours, as this will help you set a competitive rent. Offering a fair rental price that aligns with the local market can make your property more appealing and reduce the time it sits empty between tenancies. 

Maintain the property

A well-maintained property not only attracts tenants but also encourages them to stay longer. A letting agent can take care of regular property inspections and on-call maintenance to ensure everything is in good working order. Addressing maintenance issues promptly can prevent them from becoming more significant problems that might deter prospective tenants or lead to longer void periods due to extensive repairs.

Know your demographic

When your property is vacant, you’ll need to act fast to find your next tenant. It’s important to know what kind of tenant is best suited to your rental property, as you’ll need to be able to highlight exactly what you’re looking for. This will help your letting agent narrow down the search and find new tenants more efficiently. Your agent can also filter out anyone who does not meet your criteria, reducing the amount of time wasted on failed applications.

HMOs

Choosing to invest in a House in Multiple Occupation (HMO) could make sense if you need to rely on your rental income to pay off the property’s mortgage. Void periods can be more manageable with HMOs, as letting out your property by the room means if one renter leaves, you still have others in place.

Effective marketing and advertising

When a tenancy ends, effective marketing is crucial to secure your next tenant. Our letting agents use multiple channels such as online property portals, social media, and local advertising to reach potential tenants. We also offer high-quality photos and detailed descriptions highlighting the property's key features to generate more interest and reduce the time it takes to find new tenants when a property becomes vacant.

Build positive relationships with tenants

Happy tenants are more likely to stay put, so make sure to foster positive relationships by maintaining an open line of communication and addressing maintenance issues promptly. This is no easy task, especially if you have your own home and job to attend to. A fully managed letting service can ensure that your tenants are well-looked-after, which can reduce void periods without interrupting your schedule.

Shorter days, falling leaves, and the beginning of colder weather all signify the arrival of autumn. Whether you love it or loathe it, adding a few nice touches to your home can make you feel more connected or, if you prefer, insulated from it. Here are a few tips to give you a head start, so you are ready for its arrival.

Warm up your home with textiles 

Throw a few cushions down or add a throw to your sofa and snuggle up to a cosier way of life with a variety of sumptuous materials. Whether you love wool, velvet, or leather, you can make comfort appear aesthetically appealing, which will freshen up your rooms. Warm colours, when the fire is lit, will warm you from the inside out. Luxury can become a feeling that can make your living spaces seem wonderful, so take some time to make the most of your surroundings. 

Invite nature indoors 

If you are in the mood for cosying up by the fire and you like celebrating the seasons, adding some leaves, chestnuts, dried flowers, or pinecones to your fireplace will help make it centre stage. An inviting rug in blazing autumnal colours or simply some logs piled next to the fire will set the scene for cosy nights while reinvigorating your interior. Creating an indoor garden is a good hobby to keep you busy during colder months and can fill your home with beautiful scents. 

Bring your indoors outdoors

Preparing your outdoor areas is important because it allows you to enjoy them all year-round. Making an early start by making the most of warmer September days to maintain your garden is always a good idea. Whether you are building an outdoor room from scratch or simply preparing it for the changing seasons, add throws, blankets, and cushions here too. Completing it with candles and other creature comforts that add some autumnal ambiences will allow you to enjoy a different perspective of your home. 

Don’t forget your bedrooms

If nothing else, the changing seasons are a great excuse to refresh your home's appearance, and sometimes it’s all too easy to neglect your bedrooms. They, too, will benefit from some new cushions, rugs, and blankets. A new bedspread can make a big impact but if you want more, consider redecorating by using autumnal-inspired paint. Autumn’s colour palette also offers huge inspiration for year-round decorating ideas and furnishings. 

Make your rooms glow with light   

Light a path to your home, then adorn each room with nice lighting to allow them to look beautiful. Play with light and add and take it away when and where you feel is best by using different light sources. You can do this with lanterns, candles, lamps, and ambient lighting which partners well with natural light, in conjunction with all the other decorative details you have added, including any mirrors. Then you can switch up or play down light levels to suit your mood, perhaps to relax after a tough day at work.

Even if it’s been a good few years since you last moved, you may already be aware that deeds are transferred and held electronically by the Land Registry and if you didn’t know that, you do now. Most properties are registered with the Land Registry and if your property is one of them, you don’t need to panic because you will not need a paper copy of your original deeds. If your property is not registered with the Land Registry, then things are a little more complicated. 

What are deeds?   

The title deeds of your property prove that you are the legal owner of your home, so they are extremely important when buying or selling.

Do you need deeds to sell your home?

When it’s time to sell your home, you will not need your original paper deeds if your home is registered with the Land Registry. It has been compulsory for any transfer of land or property to be registered with the Land Registry since 1990. So, unless you moved or remortgaged before this, then your home will be registered. If your property is not registered with the Land Registry, you will need your deeds. If you have searched your home thoroughly for your original paper deeds, and can’t find them, there are a few places you should look. 

Places where you may find your deeds other than your home 

If you need to find the deeds of your property because it is not registered with the Land Registry and you have searched every nook and cranny of your home, your mortgage provider or solicitor may have them. It could also be worth checking with the previous owner or their solicitor. However, finding the original paper deeds to a property is no easy task, as often they can be quite old. This is where you will need the help of a conveyancer or solicitor. 

How can a conveyancer or solicitor help?

So, if you can’t find your deeds and your property is not registered with the Land Registry, it’s time to contact your conveyancer or solicitor. The Land Registry does not store original paper deeds so you will have to apply to the Land Registry for a first registration. Your solicitor can help you with this process. You will need to provide information such as when the original deeds were lost or destroyed, how this occurred, identify the property in detail and whether you had a mortgage at the time the deeds were misplaced. The Land Registry will consider each case individually so seeking the guidance of a good solicitor or conveyancer is a wise move. 

Great properties and property professionals

It’s easy to become disheartened if a few obstacles stand in the way between you and your dream home. When you find the home you want and are organised, moving is a straight-forward process. However, from time to time, a few problems may need the attention of experts. That’s why it’s important to surround yourself with the right team who can guide you through the moving process. From finding the home you love, a good mortgage advisor and conveyancer, a great agent will give you all the support you need.

Ensuring the full return of your deposit is one of your most important considerations as a tenant. With care, preparation, and a proactive approach, you can significantly increase your chances of reclaiming the full amount. Let’s take a look at everything you can do to maximise your chances of receiving your full deposit back at the end of your tenancy.

How are deposits protected?

Deposits are protected under the Tenancy Deposit Protection (TDP) scheme, a legal requirement for landlords and letting agents. This scheme applies to assured shorthold tenancies and ensures that tenants' deposits are safeguarded throughout their tenancy. 

Within 30 days of receiving the deposit, landlords must place it in one of these schemes and provide the tenant with all the necessary information, including details about the scheme used, how the deposit is protected, and the procedure for reclaiming it at the end of the tenancy.

Take photos of the property

One of the first things you should do after moving into a new property is take photos of every room. It’s particularly crucial to photograph any damage to walls, furniture, flooring, and white goods that was already present before you moved in.

It’s a good idea to send these photos to your landlord or agent to confirm that all parties are satisfied for them to be used as a record of the property’s condition.

When moving out at the end of your tenancy, you should also take photos so that you can prove the state you left the property in if any disputes arise.

Check the tenancy agreement

If you’ve rented before, you’re probably tired of hearing about the importance of thoroughly reading your tenancy agreement. However, making sure you’re familiar with every section of the agreement is crucial to making sure you don’t accidentally do anything that breaks the tenancy's terms.

Just because you read the agreement in your previous tenancy doesn’t mean you don’t need to read the new one. Each agreement can differ between landlords, agents, and properties. An agreement should list all of your responsibilities and what you have to do before vacating the property in order to receive your full deposit back.

Ask for the inventory

Everything that was already in the property at the start of your tenancy should be listed in the inventory. On the first day of tenancy, the landlord or agent must prepare the inventory so everyone can agree on the property's condition.

If you disagree with the deposit amount you receive after the tenancy, the inventory is the best piece of evidence you can provide when disputing it.

Reduce the risk of damp

Reducing the risk of damp is crucial for maintaining the property's condition and ensuring the full return of your deposit. Damp can cause significant damage to walls, ceilings, and floors, leading to costly repairs for the landlord.

To prevent damp, ensure that the property is well-ventilated by regularly opening windows and using extractor fans in kitchens and bathrooms. Keeping humidity levels low and taking preventative measures can help maintain the property in good condition, making it more likely that you will receive your full deposit back.

Maintain your garden

Maintaining your garden is another important aspect of fulfilling your tenancy obligations and securing your full deposit. Overgrown lawns, untrimmed hedges, and damage to garden furnishings can negatively impact from the property's appearance and require professional services to fix.

By keeping the garden in the same condition as when you moved in, you demonstrate respect for the property and avoid any potential deductions from your deposit for garden-related issues.

Report problems when they arise

Reporting problems when they arise is essential for preventing minor issues from escalating into significant, costly repairs. If you notice any issues, such as leaks, broken appliances, or structural damage, inform your landlord immediately.

This proactive approach not only helps maintain the property's condition but also shows your responsibility as a tenant. By preventing minor issues from becoming major problems, you reduce the risk of deposit deductions for damages that occurred during your tenancy.

Tidy and clean before you leave

Most tenancy agreements stipulate that the property must be left in a clean and tidy condition, comparable to its state at the start of the tenancy. Conduct a thorough cleaning of all rooms, including kitchens, bathrooms, and living areas, while paying particular attention to overlooked areas like behind appliances, inside cupboards, and under furniture.

Leaving the property in good condition allows you to fulfil your contractual obligations, significantly increasing the likelihood of receiving your full deposit back.

What if you disagree with the amount you get back?

If you disagree with the amount of deposit you get back after a tenancy, you can ask your landlord or letting agent for a detailed breakdown of the deductions made from your deposit. This should include specific reasons for each deduction and any relevant invoices or receipts for repairs or cleaning services.

When it comes to selling your home, first impressions count for a lot. Potential buyers often make quick judgments based on the smallest details, so quick fixes can be just as important as more substantial renovations. Here are six minor yet significant factors that could potentially reduce the value of your home.

Mess and clutter

The first thing buyers notice when entering a home is its cleanliness and tidiness. Mess and clutter can distract from your home’s best qualities, so make sure to spend some time tidying and decluttering before viewings. This can also help to showcase the full potential of your home.

Evidence of pets

The UK is a nation of pet lovers, but buyers aren’t so keen on the smells, hairs, and damage pets tend to leave behind. If you keep pets, it’s important to have a top-to-bottom deep clean before conducting any viewings to remove odours, stains, and fur. You could even arrange for your pet to stay with a loved one during the viewing process to help ease the upkeep. 

An unloved garden

A neglected garden can give the impression of a property that needs additional maintenance, which many buyers can find off-putting. Overgrown plants, weeds, or a lack of landscaping can make the outdoor area seem smaller and less inviting. Simple gardening tasks like mowing the lawn, trimming bushes, and repainting any fencing or railing can significantly enhance its appeal.

Poor lighting

Dimly lit rooms can make a home feel smaller than it actually is, whereas good lighting expands the space. Make sure all light fixtures are working correctly and consider adding lamps or fairy lights to brighten darker areas. Natural light is also ideal for showcasing your home at its finest, so keep curtains and blinds open during viewings.

Damaged windows

Cracked or damaged windows not only detract from the aesthetic appeal of your home but can also raise concerns about insulation and security. Replace any broken or damaged windows and ensure that they open and close smoothly.

An old front door

The front door is the gateway to your interior and sets the tone for the rest of the home. An outdated or worn-out front door can make a negative first impression. Consider painting or replacing it to enhance kerb appeal and give a fresh look to your property’s entrance.

If you’re planning to sell your home in Scotland, an EPC is an important document that can influence potential buyers’ decisions and ensure your property complies with legal regulations. In this article, we’ll take a look at everything there is to know about EPC ratings, why they are required, and what to do if you don’t have a valid one in place.

What is an EPC rating?

EPCs measure a home’s energy efficiency on a scale from A to G, with A being the most efficient and G being the least. EPCs remain valid for 10 years before they need renewing, and they include recommendations for energy-efficient upgrades, the expense of implementing them, and the potential savings from each home improvement. 

An EPC rating can also estimate the overall cost of running the property. Therefore, if you’re selling your home, a valid EPC rating is essential.

Are EPCs required in Scotland?

Yes, if you’re selling a property in Scotland, you will need a valid EPC rating. The certificate must be made available to potential buyers as part of the Home Report, which is mandatory for most residential property sales in Scotland. The Home Report includes three key documents:

1. Single survey – An assessment of the property’s condition, including a valuation.
2. Property questionnaire – Information about the property, such as the council tax band and local authority notices.
3. Energy report – Contains the EPC and recommendations for improving energy efficiency.

How long is an EPC valid for?

Once your home been issued its EPC rating, it will be valid for 10 years. This means that if you have an EPC rating that was issued within the last decade, you can use it to sell your property without needing a new assessment. However, if your EPC is older than 10 years, you’ll need to commission a new one before you can place your home on the market.

Checking your EPC’s validity

You can refer to the certificate itself to check if your EPC is still valid as it should state the date of issue and the expiry date. Additionally, you can look up your property’s EPC through Mygov.scot, where you can download a copy of the certificate and verify its validity. 

When should I get a new EPC?

Even though EPCs have a 10-year life-span, there are circumstances when you might consider getting a new one before selling your home:

How to get a new EPC

You can obtain an up-to-date EPC rating by hiring a qualified Domestic Energy Assessor (DEA) or an accredited Energy Assessor. You can find an accredited assessor through the EPC Register or by consulting local directories. Make sure to schedule the assessment well in advance of listing the property for sale to ensure compliance with legal requirements and to leave some time to make cost-effective improvements.

With autumn on its way, whether you are moving to a new home or staying put, now is a good time to start thinking about ways you could make some savings. The cost of renting in Scotland has increased significantly in recent years. So, here are a few tips that may help.

Plan your energy consumption in advance 

If your energy bills are in your name and you are paying them, then you can choose which energy supplier you use. Planning your energy consumption in advance, by setting thermostats correctly, and getting a smart meter installed where possible will help you reduce your monthly energy bills. LED lightbulbs and smart appliances will also do this. 

Fill your freezer by batch cooking 

One of the biggest expenses today is your food bill. Even if you have no cooking skills or are an advanced cook, there is no end of inspiration and tips online. Batch cooking your favourite recipes will reduce your energy consumption and your food budget as you plan meals. And when you are prepared, with a freezer full of options, it may reduce the temptation to order in after a long day. Cooking with friends and family can make it more sociable and less of a chore.  

Be creative with your social life 

Luckily, Scotland has a vibrant and cultural social scene for you to enjoy. But, having friends or family around for dinner, the match, movies, or game nights are great ways to stay in, maybe save a bit of money, and have some fun. Again, a bit of prior planning makes a big difference and then you might find you have a little more leftover for when you do go out. Some nights out are better when planned and there is always scope for the unexpected.

Get ready to keep the colder weather out 

As autumn arrives, the days and nights will get cooler as we step towards the cold snap of a Scottish winter, so it's best to get prepared now. Is your throw ready to throw over you for cosy nights in? If there are any drafts sneaking in under the doors, consider sourcing some nice draft excluders. They come in many shapes and sizes and if you choose a dog, you will never have to walk it. 

Get your full deposit back  

If you are moving on to a better property, planning the preparation of the home you are moving from, so that your full deposit is returned, could save you time and money. Giving yourself enough time to clean, pack, and get organised before you leave your old home is well worth the effort, and this will allow you to make a greater contribution to the finances of your new home.  

Choose the right property 

A compliant energy-efficient home that is comfortable and reliable should be high on your priority list. You will want to live in the right location and, whether you prefer the city or somewhere more secluded, being happy with your home is important. It is much easier to relax and create a healthier lifestyle when you are settled in your surroundings. In this way, finding the right property can encourage you to spend more time there, enjoying it or its location and however else you want to make the most of it.

Your home is your most valuable asset, so your choice of agent shouldn’t be taken lightly. Working with an expert you can trust is crucial to the outcome of your sale, so you’ll need to conduct some research to ensure your decision is well-informed.

Here are the key indicators of a good agent:

Local presence and experience

A reliable agent will be experienced in selling properties similar to yours and well-versed in the intricacies of your local market. Make sure they can provide you with local insights such as trends, values, and any potential changes. You’ll often find that reputable businesses have a visceral local presence, with ‘SOLD’ boards all around and a comprehensive website full of details about the community.

Integrity

An accurate valuation is the key to a successful sale, so you’ll need an agent with a solid and reliable strategy. Some agents will offer up an unrealistic figure to get you on board, which often results in the home languishing on the market or failing to secure a buyer at all. A good agent will thoroughly assess your home, considering a multitude of factors such as recent sales data, the condition and appearance, and current market demand.
They can use this information to paint a full and accurate picture, ensuring that your property is competitively priced.

A solid marketing strategy

While the market remains competitive, a robust marketing strategy is what will set your sale in motion. It’s important to inquire about your potential agent’s approach to marketing, including both online and offline channels, professional photography, and any special strategies they might use to showcase your home in its best light.

First impressions

Your agent’s style of communication should be apparent from the first meeting. It’s important to set clear expectations on how you hope to be contacted if you work together. Whether it’s emails, phone calls or face-to-face meetings, the right agent will maintain an effective and consistent line of communication from the offset.

Glowing reviews

Reputable businesses are proud of their client testimonials, so it shouldn’t be difficult to find glowing reviews on the website. Customer feedback is the valuable insight you’ll need to get a gauge of the agent’s reputation, so don’t hesitate to do your research first.

How do they handle negotiations?

Having a strong negotiator on your side is crucial when it comes to selling a home. You should ask any potential agents about their approach to negotiations as well as their strategy for securing the best possible deal for you while also maintaining a positive relationship with potential buyers.

If you're considering buying a new home, recent trends suggest that it may be best to act sooner rather than later. The housing market has shown some promising signs that could benefit you as a buyer. Let’s take a look at how the market’s conditions could make your dream move more achievable than you may have thought.

Asking prices dip

Rightmove data shows that new seller asking prices dropped by 0.4% in recent months.* While this may seem like a small change, it signals potential for buyers. With sellers adjusting their asking prices, buyers are gaining more negotiating power. For those who have been waiting for prices to stabilise after years of rapid growth, this dip in asking prices could represent an opportunity to enter the market at a more affordable level.
This is especially positive for first-time buyers who are trying to step onto the property ladder. As prices dip, the market’s conditions may allow them to secure a home without being priced out. It could also be a good time for those looking to upgrade their current homes or invest in additional properties, as sellers become more willing to negotiate.

Prices expected to rise in the future

While asking prices have dropped slightly, overall property prices are still projected to rise by up to 2% by the end of 2024.** This may sound negative at first, but it reinforces the importance of acting sooner rather than later. The recent dip in asking prices could be short-lived, so moving now is crucial.
If you're in a position to buy now, you're not only benefiting from the recent reduction in prices, but also from the potential for future growth. Waiting too long might mean paying more for the same property in a few months’ time, as prices inch back up towards the 2% increase predicted for the end of the year.

Supply is increasing

Another significant change in the market is the improving supply of homes for sale, which increased by 16% compared to July 2023.** This is a crucial factor for buyers, as greater supply means more options and less competition for each property. It offers buyers a better chance of finding a home that meets their needs and preferences.
As well as better choice, increased supply gives buyers more leverage when negotiating prices. Sellers who are competing with more properties on the market may be more open to dropping their asking price in order to secure a buyer. With more homes to choose from and sellers eager to secure buyers, there’s a greater possibility of finding value in the current market.

How we can help

If you’re considering buying a home, our expert team is here to help you take advantage of the market’s conditions and make your move a successful one. With our help, you could not only save money, but also position yourself perfectly to benefit from future increases in property prices.

Obtaining a FENSA Certificate is crucial when it comes to buying or selling a property. But what exactly is a FENSA Certificate, and why is it so important? In this article, we take a look at everything you need to know about them, from what they are to how they impact the selling and buying process.

What is FENSA?

The Fenestration Self-Assessment Scheme (FENSA) regulates the replacement of windows and doors in residential properties. It was established by the government in 2002 when building regulations were amended for double-glazing.

What is a FENSA Certificate?

A FENSA Certificate verifies that a FENSA-registered supplier installed all windows, doors, roofs, and skylights in accordance with building regulations. This verification eliminates the need for local building authorities to inspect the work to ensure that it meets the necessary regulations.

Why do you need a FENSA Certificate?

Without a FENSA Certificate, you are at risk of paying for a service that does not satisfy safety and quality standards. Failure to comply with certain regulations may even result in fines and legal issues.
A FENSA Certificate also ensures that the windows and doors installed in your home meet the required energy efficiency standards, which can help to regulate the temperature inside your home and reduce your energy bills.

How to get a FENSA Certificate

Using a FENSA-registered supplier is the easiest way to ensure you obtain a certificate. These professionals are certified to carry out installations that comply with building regulations.
After the work is complete, the installer may arrange an inspection to verify that the installation adheres to building regulations. They will then send the required paperwork to FENSA, who will issue you the certificate.

How FENSA Certificates affect the selling process

When selling a property, having a valid FENSA Certificate for any replacement windows and doors is essential. It gives any potential buyers peace of mind that the property is safe and secure, which could increase their likelihood of making an offer.
While it is not a legal requirement to have a FENSA Certificate when selling a property, buyers are increasingly savvy when it comes to property purchases. Their solicitor is likely to request to see the certificate before contracts are exchanged, so failing to have one could cause a sale to fall through.

How FENSA Certificates affect the buying process

On the flip side, when you are buying a property, it is important to check whether there is a valid FENSA Certificate for any replacement windows and doors. This will ensure that the property is compliant with building regulations and that there are no issues with the installation.
If a property does not have a FENSA Certificate for replacement windows and doors, this should raise red flags for you as a potential buyer. Your solicitor might scrutinise the quality of the installations, seek further details, or even request replacements to adhere to building regulations.

Investing in a property with a sitting tenant involves a slightly different process compared to purchasing a vacant property, but it offers unique advantages that can make it worthwhile. Let's look at the key benefits of buying a property with a sitting tenant, as well as why it could be a great way to build your portfolio.

The process of investing in a property with a sitting tenant

Firstly, it’s important to thoroughly assess the property and understand the existing tenancy agreement. This includes reviewing the agreement’s terms, rent details, the duration of the tenancy, and any other obligations the tenant may have. It's also crucial to evaluate the tenant's rental history to ensure they have a strong track record of timely payments and proper maintenance of the property.

Securing financing

Once you've done your due diligence, the next step is securing financing. Lenders often favour properties with sitting tenants because of the existing income stream, which can make it easier to obtain a mortgage. Once completed, the transaction proceeds similarly to any other property purchase. However, as the new landlord, you’ll inherit the existing tenancy agreement, which means you must be prepared to honour its terms.

Immediate rental income

One of the most significant benefits of purchasing a property with a sitting tenant is the immediate rental income. Unlike vacant properties, where you may face months of searching for a suitable tenant, a property with an existing tenant generates income from day one.
This instant cash flow can help offset mortgage payments, maintenance costs, and other expenses associated with property ownership.

Reduce vacancy risk

Vacancy periods are a concern for any landlord, as a vacant property generates no income while still incurring costs. By investing in a property with a sitting tenant, you can minimise the risk of lengthy vacancies.
A sitting tenant ensures continued rental income, provides financial stability, and reduces the time and effort required to find new tenants.

Predictable income

With a sitting tenant, you have a clear understanding of the rental income you can expect, as well as the payment history of the current tenant. This predictability allows for more accurate financial planning and budgeting. It also provides reassurance that the tenant has a history of paying rent on time, lowering the risk of future payment issues.

Potential higher returns

Properties with sitting tenants may be priced slightly lower than vacant properties as not all landlords favour them. Therefore, if you’re willing to take on a sitting tenant, you could be able to buy a property at a discounted price, potentially leading to improved return on investment in the long run.

How your trusted agent can help

If you’re considering investing in a property with a sitting tenant, we will guide you through every step of the process with expertise and care. From the initial assessment of the tenancy agreement to understanding the tenant's rental history, we will make sure that you have a clear picture of the property's situation.

As a landlord, ensuring the safety of your tenants is not only a moral duty but also a legal obligation. Fire doors play a critical role in protecting lives and property; therefore, understanding your responsibilities regarding fire doors is essential to maintaining compliance with the law. Here’s what every landlord needs to know about fire door responsibilities.

What is a fire door?

A fire door acts as a vital safety device in the event of a fire by delaying the spread of both flames and smoke. This gives tenants critical time to get to safety, while also minimising the damage caused to the property.
Fire doors are an integral part of a building’s passive fire protection system and are essential in communal areas and any space where a fire could pose a significant risk. Certified fire doors must be rigorously tested and supported by a safety performance certificate to prove that they have been tested in accordance with British standards.

Who is responsible for fire doors?

While the landlord is responsible for the fire doors in the property, it’s wise to talk to your tenants about the rules regarding fire safety in rental properties. You could also provide them with a handbook which details the rules they will need to follow while living in the property.
For example, propping open a fire door is against the law due to the risk it poses to the tenants and others.

Fire door legislation

In the UK, fire safety regulations are primarily governed by two key pieces of legislation: the Regulatory Reform (Fire Safety) Order 2005 and the Housing Act 2004. The Fire Safety Order applies to all non-domestic premises, including common areas of residential buildings such as blocks of flats or houses in multiple occupation (HMOs). Under this legislation, landlords must carry out regular fire risk assessments, identify fire hazards, and take steps to reduce risks, including installing and maintaining fire doors.

Where should fire doors be installed:

Landlords are responsible for ensuring fire doors are installed in the following areas:

• HMOS and multi-occupancy buildings: Fire doors must be installed in all rooms that lead to communal areas, such as hallways and stairwells. This includes kitchens, living rooms, and bedrooms in HMOs.
• Flats: In blocks of flats, fire doors should be installed at the entrance to each flat and in any communal areas such as corridors and stairwells.
• New builds and renovations: Any new building or renovation must comply with current fire safety standards, including the installation of appropriate fire doors where required.

Maintenance and inspection

Fire doors must be regularly maintained and inspected to ensure they remain effective. Landlords should conduct or arrange for a professional fire risk assessment that includes checking the condition of fire doors. Key things to look for include:

• Door alignment: The door should close properly, without gaps that could allow smoke or fire to pass through.
• Intumescent seals: These seals expand in heat to block gaps around the door, and they should be intact and properly fitted.
• Hinges and closures: Check that all hinges are secure and that the door closer functions correctly, ensuring the door closes automatically.
• No modifications: Any holes, damage, or modifications can compromise the fire door’s integrity.

Joint tenancies are a wonderful introduction to the world of renting. It provides a fun, social way of living while being super affordable. With many different types of letting agreements available, it’s important to understand the tenancy before signing it. In this article, we help you understand the entirety of a joint tenancy.

What is a joint tenancy agreement?

Joint tenancies, most common among students, young professionals, couples, and families, are legal agreements that bind two or more individuals together as equal tenants. It allows you to equally split the costs and responsibilities of renting a property. When involved in a joint tenancy, it’s crucial to have clear communication and organisation to avoid potential disputes.

What are the benefits of a joint tenancy?

Better affordability

A joint tenancy has many appealing benefits, but the biggest one overall is how it makes the costs of renting more affordable. This is because you are able to equally divide the overall expenses of renting, reducing your financial burden and allowing you to save for your own property one day.

Less responsibility

With an equal split in the tenancy, all responsibilities are divided between every party. Whether that's cleaning, cooking, or even simply taking the bins out, it allows you to share all the responsibilities of renting a home.

Create relationships

Being involved in a joint tenancy allows you to create solid friendships you will keep for life. Sharing a home with new people will boost your overall social life and create the perfect scene for anyone who doesn’t want to live alone.

What are my responsibilities as a tenant in a joint tenancy?

All the joint tenants are under one agreement, which means they share all the same responsibilities and face the same challenges as if they were one. Each tenant must follow the terms of the tenancy agreement and look after the property, but if an individual doesn’t comply with the rules of the tenancy, everyone in the joint tenancy is liable.
Joint tenancies usually have one key individual named as the lead tenant who interacts with the landlord or letting agent, making the communication path simpler. If you act as the lead tenant, this allows you to take charge of the tenancy and learn more about responsibility.

How do deposits work in a joint tenancy?

A joint tenancy deposit acts like any other regular deposit. The deposit is collected in separate payments from each tenant but collected and combined, creating one tenancy deposit. A joint tenancy is a joint responsibility with all the parties involved, so when it comes to the return of your full deposit, you will be relying on your housemates to be trustworthy and respectable towards the home.

How do I end my joint tenancy?

Ending a joint tenancy can be seen as a confusing process as it involves multiple tenants. You can’t end a fixed-term tenancy before it expires unless the tenancy agreement has a break clause, or all the joint tenants and landlord agree to end it. If the fixed-term tenancy comes to an end and an individual wants to discontinue their part of the tenancy but the others want to continue, the responsibility will fall on the remaining tenants, either paying the extra rent each month or by identifying a replacement tenant.

As the winter months approach, damp and mould can present serious issues for both landlords and tenants, so it’s important to take preventative action and maintain good habits. Whether you’re a landlord trying to keep your property up and running or a tenant aiming to keep your living space comfortable, preventing winter damp is essential.
Here’s how to stay ahead of this seasonal issue.

Understand the causes of damp

Damp can occur for several reasons, but the most common in winter are:

• Condensation: This happens when warm, moist air meets cold surfaces, like windows or walls, causing water droplets to form.
• Rising damp: Ground moisture rises through the walls due to a lack of a damp-proof course (DPC) or a damaged one.
• Penetrating damp: Water enters the property through external defects, such as a leaky roof, blocked gutters, or poor-quality brickwork.

Preventing damp

Damp and mould are much easier to prevent than to cure, so sticking to healthy practices is the easiest way to make sure your home is properly ventilated and free from moisture.

Keep windows open

Open windows allow moisture to escape rather than settle onto walls or furniture. Make sure to crack open a window if you’re cooking, washing clothes, showering, or using a tumble dryer.

Use extractor fans

Ensure that kitchen and bathroom extractor fans are functioning well to expel moisture-laden air. For landlords, consider installing or upgrading ventilation systems in areas prone to moisture.

Cover up pans when cooking

When cooking, cover pans to reduce the amount of steam released into the air.

Use a dehumidifier

These devices are great for reducing moisture in the air, especially in rooms that are prone to damp. Landlords could also consider providing tenants with dehumidifiers and ensuring that properties have good ventilation to handle excess moisture.

Heat efficiently

Keep your household heating at a low level for longer periods, rather than cranking it high in short bursts. This will heat the home more evenly and effectively, lowering the risk of condensation.

Dry clothes outside

If possible, avoid drying clothes indoors, as this significantly increases indoor moisture. If you must dry indoors, do so in a well-ventilated room with a dehumidifier.

Spotting damp early

Both landlords and tenants should stay vigilant for the early signs of damp:

• Musty smells: A persistent musty smell can indicate hidden damp.
• Mould growth: Black mould spots, especially around windows, in bathrooms, or on walls, are clear signs of damp.
• Peeling paint or wallpaper: If paint or wallpaper starts to peel or bubble, damp might be the cause. If tenants notice these signs, they should inform the landlord or letting agent immediately so that remedial action can be taken.

Moving into your first home, especially when renting, can be a nerve-racking but exciting experience. Whether you’re a student living away from home for the first time or a young professional finally escaping to the city, we have gathered our 10 top tips to ensure you have a smooth move and a harmonious tenancy.

Tip 1 – Understand your rights

When renting a property, you will sign a contracted tenancy agreement that highlights your rights as a tenant. For instance, the landlord or letting agent cannot disturb you in your home without warning. Knowing what you and your landlord can do helps create clear communication and a positive landlord-tenant relationship.

Tip 2 – Identify your responsibilities

As well as knowing what your rights are as a tenant, it’s also key to identify your responsibilities, such as when to pay rent or what your cleaning duties are. Studying your tenancy agreement and understanding your responsibilities early on makes you less likely to breach any agreed-upon obligations in your contract, which could potentially cause friction with your landlord or letting agent.

Tip 3 - Pay your rent on time

The one expectation landlords have from a good tenant is, of course, paying the rent in full and on time each month. If you end up in a situation where you're struggling to meet a rent due date, then clear communication is necessary. By simply being upfront and honest, you can create a good landlord-tenant relationship for the future.

Tip 4 – Put everything in writing

Any communication between you, your landlord, or even the letting agent should always be in writing. This enables you to present proof in the event of any disputes arising. If you have a phone call with them instead of emailing, it’s important to follow up on that call with an email clearly stating the key facts spoken during the call. Always keep records throughout your tenancy.

Tip 5 – Create a good relationship with your landlord

By communicating clearly and effectively with your landlord, you can ensure a good relationship is maintained during and after your tenancy. This will allow you to approach your landlord with any problems or queries throughout the tenancy, reducing the chances of any friction being created in your landlord-tenant relationship.

Tip 6 – Treat the property as your own

Loving and respecting the property as your own home is super important, as once again, it solidifies a superb landlord-tenant relationship. By ensuring that you look after the property, you can guarantee yourself the best chance of receiving the return of your full security deposit and a great tenant reference when renting in the future.

Tip 7 – Having the correct insurance in place

While you may not be responsible for the building’s insurance, you are responsible for the contents of the property. The adequate insurance policy for renting is contents insurance. This policy covers all your belongings inside the building, as the landlord is not responsible for the contents inside the home.

Tip 8 – Always get permission

When renting a home, before making any interior changes, you need to ask the landlord for permission. Most landlords are quite laid back about decorative changes, as there are many things you can do that won’t create damage to the property, but it is always crucial to ask for permission just in case.

Tip 9 – Be a good neighbour

Entering a new community can be difficult, especially when renting, and this can sometimes be your first taste of independent life. By being a good neighbour, minimising noise and any potential disruption, you can ensure the support of your neighbours in the future with any problems.

Tip 10 – Always ask the question

At any point when you are living in your new home and you have a question or query, don’t hesitate and always reach out to your landlord or letting agent. All your rights and responsibilities will be outlined in your tenancy agreement, but if you’re ever unsure, always ask the question.