October 2024 - Property Articles

October 2024 - Property Articles




A short-term or long-term tenancy – which is right for you?

 
Whether you are renting or letting a property, you have probably at some point had to decide which route to take. Perhaps you are still making up your mind and are not sure which road you want to go down. Let's start by taking a closer look at the pros and cons of both short-term and long-term tenancies for landlords and tenants.

What is a short-term tenancy?
Typically, a short-term tenancy is a tenancy that is less than six months. Holiday lets are usually up to 31 days.

Advantages of a short-term tenancy for landlords
As a landlord, you can enjoy more flexibility, perhaps choosing to let your property to holidaymakers for some of the year while at other times letting it on a short-term basis. If your tenants become problematic, then at least you are not tied into a long-term contract. Typically, you can charge a little more for a short-term let and more again for a holiday let.

Advantages of a short-term tenancy for tenants
If you are a tenant, then you are not tied into a long-term agreement, which, if you work on short-term contracts in various locations, may suit you perfectly. For some people, the principle of being restricted to one property for a long period of time is not appealing. The overall cost of renting for the duration of the contract will be less than renting for longer. That said, you will then need to find another place to rent at the end of the term of the tenancy.

Disadvantages of a short-term tenancy for landlords
You may find that your property stands vacant, which means that you could reduce the profitability of your investment. Your property may require more attention and time in terms of maintenance, advertising, and the time it takes to find new tenants. In some cases, mortgage providers may choose not to lend to you as your rental income may be considered less stable than that of a long-term tenancy.

Disadvantages of a short-term tenancy for tenants
Lack of long-term stability can be unsettling and stressful, and taking time out to find your next home can be time-consuming. Added to this, the higher costs of short-term lets plus the shortage of rental properties currently available makes acquiring a long-term tenancy a more attractive option.

What is a long-term tenancy?
A long-term tenancy is usually based on an annual tenancy, is a fixed-term contract, and is the most common form of renting.

Advantages of a long-term tenancy for landlords
This is a much more stable and predictable way to let your property, with better long-term stability and less time-consuming work when it comes to finding tenants. Banks will see you as less of a risk, which could increase access to funds. This means you could expand your portfolio more rapidly or buy a more valuable property, ultimately leading to a better return on investment.

Advantages of a long-term tenancy for tenants
Greater stability means it’s easier to plan your future. Putting down roots is important and is much better for all those practical things in life, including socialising and financial planning. Feeling settled is an innate human desire and leads to a more stress-free life.

Disadvantages of a long-term tenancy for landlords
Having less flexibility means that you have fewer options when it comes to diversifying into other markets. You may have to charge less than if you were renting your property as a holiday let, and if issues or repairs occur, you will need to fix them sooner rather than later.

Disadvantages of a long-term tenancy for tenants
Tenants renting on a long-term tenancy will not endure many disadvantages; even if you have to move before the end of your contract, in most cases, as long as you provide the correct level of notice, there are no financial implications.

Conclusion
Each person has different needs. However, it seems that unless you know for certain that you only need to rent on a short-term basis due to contract work, perhaps study or training, a house renovation, or holidays, a long-term tenancy is a more stable and predictable choice for both tenants and landlords.

Are you looking for a property to rent, or are you a landlord looking to let your property?

Get in touch to see how we can help.



Are you interested in inviting nature into your garden this summer?

 
This time of year is perfect for unwinding in the garden. So many people like to make the most of their outdoor living spaces by sharing them with their friends and family. Having a few extra guests around to make it more of a social occasion is always a good idea. But don’t forget to invite a bit of wildlife, which adds a touch of magic to your garden during these wonderful summer months.

Pick the right flowers
Flowers produce pollen for the birds, bees, and butterflies, which adds an orchestral soundtrack to your garden. Birds and butterflies are a spectacular sight to behold as you unwind in the garden with loved ones after a hard day’s work. And thanks to their hard work, the birds, butterflies and bees encourage more flowers to grow in your garden as they fulfil their role of fertilisation. Choose the flowers you love, adding the colours that make you happy, then let nature take its course.

Trees and shrubs
Whether bushes, hedges, trees, or shrubs are your thing, again, grow whatever you are most passionate about. Each will provide a great home for various forms of wildlife, from birds to insects. Growing a good amount of these things will create a better visual appeal for your garden and give the wildlife more choice when it comes to finding their nesting place of choice.

Build a pond
Building a pond can be great fun and is a relatively inexpensive way to add a whole new dimension to your garden. Buy a prefabricated pond and put it in the ground, or use a liner; either way, you are in for a little digging. All the hard work is worth it though, if you do it yourself. You will be able to sit back and drink your morning coffee while watching the birds, possibly even a toad, wash themselves before singing their morning songs. A good tip is to build a sloping side, almost like a beach, so that wildlife can get in and out of your pond. Perhaps fish are more your thing; either way, add some flowers to your pond, such as waterlilies, and watch them blossom.

Grow a meadow
Scatter flower seeds and create a meadow. Don’t worry if you don’t have the space to do this; you could grow small areas of long grass. These will also add to the visual appeal of your garden. Making it unique and different. This can encourage voles and caterpillars, and wildflowers have a unique beauty that is another feast for your eyes.

Create a rock garden
If you have areas in your garden that have poor soil quality, rock gardens are an ideal solution and don’t cost a lot to build. In fact, you may be able to build it for free. Build it next to your pond or wherever you feel it makes the biggest impact, and you will encourage pollinators and other forms of wildlife to thrive.

Added value to your home
While having more wildlife in your garden will not directly add value to your home it will enrich your garden, making it more attractive. This will add value to your home, and a well-presented garden with various features, flowers, trees, and shrubs will be far more appealing to buyers than a property with less visual appeal. Combined with the right outdoor living space; the perfect viewing point to appreciate all your hard work, you will have undoubtedly added significantly to the value of your property.

Are you looking for a home with an idyllic garden this summer?

Get in touch to see how we can help.



Are you preparing your property for a summer sale?

 
Summer is the perfect time to prepare your home for a speedy sale. Homes seem to blossom at this time of year, and when all your hard work is done, the sun illuminates and makes your home look like a picture. Sometimes it’s a question of having the time to get all those little jobs done. For others, it’s knowing when to stop. So, wherever you are on the spectrum, here are a few ideas to consider that will help add to the value of your home.

Increase the kerb appeal of your home
The front of your home is what will welcome your buyers, and many people make a big part of their buying decision on first glance. Does it look welcoming and in good order? Get rid of any weeds on the paths. Clean the windows and the front door. Consider replacing it if it’s a cost-effective move to make. Add some flowers, mow the lawn, and give it a lick of paint if it’s needed.

The garden and outdoor living spaces
Take a good look at your garden; it’s considered by many buyers to be as important as any room in the house. Keep it trim and in order, and make the most of those finishing touches, such as solar lighting or cushions for the garden furniture. Does the patio need weeding, or the decking need re-staining? Arrange your furniture, flowerboxes, or outdoor space so that it looks welcoming and ready to be lived in while decluttering any unnecessaries like the kids’ toys or football!

A splash of paint
Inside your home, a splash of paint adds a new lease on life to your walls and can be mood-altering, putting your buyers in the mood to move. It could be that you only need the odd splash here and there to get rid of any blemishes. If you are painting entire rooms, think neutral colours that will add light and a feeling of space. Remember the golden rule: If it’s not needed, don’t waste your money.

Clean and declutter
Your home needs to look like the best version of itself. A cost-free way of doing this is to simply give your home a good cleaning. Have a good sort-out; it will stand to you when it comes to moving. Pay particular attention to the kitchen work surfaces, the bathroom, and the sitting room. This will create a nice feeling of space.

Let the light in
Draw back the curtains, let in as much light as possible, and hang a few mirrors to create an allusion of space. Add some flowers and dial your home into the summer season. A few brightly coloured cushions or plants can add some vibrancy to your cleaner and brighter home, making it more appealing.

Small repairs
Now is the time to get all those niggling issues sorted, from the cracked skirting board to the scorched tap. A few new seals in the bathroom, or better yet, regrouting or resealing around the tiles, can add a new lease of life to your bathroom or kitchen and make a big impact for not a lot of money.

Bigger ideas
Perhaps your garden could be transformed by adding decking; suddenly you will have added an outdoor living space. Consider installing new windows or a revamped porch. Perhaps, after careful consideration of costs, you could make the kitchen and dining room open-plan? Talk to your agent if you think you will get more than the cost of completing the work when it comes to selling; maybe it’s worth doing. The choice is yours, and the possibilities are endless. A good chat with your local agent is always a good place to start.

Get in touch today to see how we can help you achieve a great asking price for your home this summer.



First impressions last! Top tips on increasing your home's kerb appeal

 
You want your home to stand out, whether it’s first seen by your buyers in an image or from the kerb. That first glance is important. If the rest of your home is in great condition, the last thing you want to do is alienate potential buyers by neglecting the front of your home and creating the wrong impression.

The front door
If it’s wooden, give it a coat of paint and polish the metal work. If it’s really worn and damaged, consider replacing it. Sometimes darker colours will make your front door pop, so that when your home is viewed and welcomes potential buyers, they immediately feel good before entering your home.

The front lawn
Make sure the grass is green and trim. Use grass feed if there are any patches. Sweep and weed any paths or patio areas. If possible, use a jet wash to make your paving look like new again.

Clean your widows
Get your window cleaner to give your windows a good clean in time for viewings and pictures for your agent. Don’t forget your window frames; make the front of your house pop with the right colours; and repair any blemishes.

Add some paint
The front of your home will benefit from a coat of good paint. Check the pointing. Perhaps your home does not need any paint; don’t forget gates, fences, walls, and guttering. The little things all add up to make a big impact.

Flowers and plants
At this time of year, adding some vibrancy with a dash of colour will really help your home stand out. Less is more, and not everyone is passionate about the same flowers and plants, so be subtle and keep what you have in pristine order.

Furniture
Even if you have a small, terraced house with little space out the front, a small seating area can add to its appeal. For larger homes, create a vision of outdoor living that is just a taste of the splendour that will later appear, perhaps in the outdoor living space located at the rear of your property.

Conceal wiring or utility boxes
If possible, don’t allow all your hard work to be affected by unsightly wiring or an electrical, gas, or rusty mailbox. Get in touch with your energy supplier if it needs replacing, or simply give it a good cleaning.

Summer symmetry
Some things work best in pairs, and when it comes to making an entrance, a pair of ornamental flowerpots on each side of the door can do the trick. Lighting can also have the same effect as flower boxes.

Finishing touches
Hanging a summer wreath can really add some colour and show your new buyers that you love your home.

Will all of this add value to your home?
Yes. Anything that makes your home appear cared for and loved will help other people fall in love with it. While it will not drastically increase the value of your home, you may be pleasantly surprised.

Contact us today so we can guide you to the front door of your happy place.



Home sales figures are looking strong for summer 2023

 
You are relaxing with a drink in the garden, and the summer scent of flowers and sweet grass mingles with whatever you are cooking on the barbeque. You take a long sigh and feel so happy that you have made the effort to move. Perhaps you have not experienced this feeling for a while. It could be that you are a first-time buyer and are eagerly awaiting this special and unique feeling. As the market stands, there is more than just nice weather and pretty houses to tempt you into moving.

Strong sales
With the UK housing market currently sitting at 500,000 sales, many analysts expect to see these figures rise to more than one million by the end of the year.* This is good news; it means that your home will sell quickly if you put it on the market. And is more proof that the property market is vibrant and far more resilient than the gloomy picture painted by the mainstream media.

The summer rush
Many people are hastily getting on the move in time for summer, not wanting to move during the colder months of winter. Summer is a beautiful time of year to move to your ideal home and is traditionally a busy time of year. For sale signs start appearing as quickly as summer flowers, giving you more choice. But it’s best not to wait for a sign to go up; keep in touch with your friendly agent, as homes can disappear from the market as quickly as they appear. Your agent will alert you the moment the right property for you becomes available.

Surging choice of homes
With 65% more choice in homes than this time last year.* The buying process today is far more enjoyable. You no longer have to worry about making offers over the asking price. From large and small energy-efficient homes that ooze character to new builds, and interesting period properties in a multitude of rural and urban locations, the choice on today’s market is more varied than ever. Homes across the market have undergone a massive amount of improvement during the home improvement boom of recent years. That said, there are plenty of projects waiting for you to put your mark on.

Summer is a great time of year to move
The kids are off school, the days are longer, the weather is not as harsh, and moving your belongings in more clement weather is a nicer experience. It’s also a great time to meet the new neighbours for a drink in the garden or a barbeque after you move in.

Good timing
Timing counts for a lot when it comes to selling your home, and right now the market is a hive of activity. A good agent will have their finger on the pulse and have a buyer waiting for your home to make its appearance on the market.

A vision of summer living
Bright and breezy rooms with seasonal flowers, drinks on the decking as the sun goes down, or the smell of something delicious cooking on the barbeque, or a simple, more compact space with a few candles and soft music soothing you after a hard day’s work are worth making the effort for.

Don’t waste any more time and make your move this summer?

Get in touch to see how we can help.

Zoopla*



How to evoke emotion with your home's colour palette 

 
Perhaps you have just moved, or maybe you are thinking about moving. It could be that you are decorating a recently acquired buy-to-let property. Whatever your reason for decorating, sometimes the hardest decision to make is deciding on colour schemes. There is an eternal spectrum to choose from, and matching and creating rooms that are visually what you were hoping for is no easy task.

Did you know?
Some research suggests that we associate certain colours of inanimate objects with certain emotions. Here are a few examples: orange: happiness or energy, yellow: cheerfulness, red: love, passion, or danger and blue: relaxation, to mention but a few.

Are you selling your home or letting your home?
If you are renting out your home, neutral, warm colours are the best. That way, you can play it safe and not run the risk of decorating to your tastes and alienating potential tenants or buyers. Paler, softer colours that encourage as much light as possible will make your home appear larger. While it is tempting to opt for two-tone effects, do so in a conservative manner, if at all.

Do what makes you happy
If you are decorating for your own home, then this is a different matter. When it’s time to sell up and move, the chances are that your buyer will have their own ideas and tastes when it comes to decorating. Instead, have faith in your own tastes. Learn to trust yourself while seeking the right advice. Experiment with colours, and don’t buy until you try. Use the samples you are provided with and paint until you are happy. If you are not happy, today any colour can be matched with some clever mixing technology. So, if you can’t find the right colour, you can have it made.

Soothing spaces
Bathrooms, bedrooms, and sitting rooms are often places where feelings of tranquilly are at the top of the pecking order of desired emotions. Shades of blue and green can be useful in creating such feelings. The softer the shades, the less impact they will have. A good way to make these themes work well is by adding the right complementary furniture. In the case of a bathroom, a contrasting suit will accentuate these emotions and may distract your eye from the intensity of large painted areas. A good tip is to break up walls with mirrors, plants, pictures, shelves, or tiles to create a greater sense of serenity.

Furniture and finishing touches
A great way to add colour to create your desired mood is by not paying too much attention to the walls and focusing more on your furniture, features, and finishing touches. Gone are the days when it was all about wallpaper and paint, with furniture being a simple afterthought.

Neutral and darker colours are great for a feeling of cosiness. Then, if you want to add a dash of colour with yet more cosiness built in, use mustard shades or whatever colour you love. Neutral colours work with everything, and when you get to the end of your decorating expedition, the impact of small plants on a simple, free-standing table can be pleasantly surprising. So, when it comes to creating the perfect mood for each room in the house, start with your furniture.

Browse our properties today to find a home that matches the life you want perfectly.



It’s a buyer’s and a seller’s market

 
The property market always has a good deal for everyone, and right now, this has never been truer. The news tends to paint a bleak picture; however, on closer examination, it’s clear to see that the moving market is well balanced. If you are selling, buying, or both, then you are sure to find what you are looking for at the right price.

If you are selling
The property market is still benefiting from the rapid growth in prices over the past few years. With UK house prices rising on average by 3% in the year to May 2023, there is no doubt that things have returned to a healthier state.* Steady, solid growth creates confidence and stability. This means if you are selling, you are going to get a good price for your home, and if you move, you most likely have great levels of equity.

Buyer demand
Demand from buyers is up by 14% compared to 2019 and is 42% lower than a year ago.* It’s completely unfair and unrealistic to get downhearted by comparing today’s figures with those of last year. This was an exceptional year due to the hyperinflated market caused by COVID and other factors. The figure to concentrate on is that of 2019, which was a more realistic market, and with the increase in demand this year, you will sell your home quickly.

If you are buying
The property market is not exclusively a buyer’s market, as perhaps it has been in past years. But there is definitely a lot of scope for haggling, making an offer, or getting a good deal. Whatever your preferred term for saving money is, the trick is not to overdo it. You don’t want to miss out on the home you love by making too low an offer. This is where a good estate agent can help guide you through what can be a nerve-racking time.

A friendly face
Moving home is becoming more of a seamless experience. But having the right agent helps with this process. There is no substitute for a living, breathing person who spends day in and day out dealing with virtually all that is property related. Estate agents tend to know what is going on in your local market, can answer all your burning questions, put you in touch with anyone else you may need, and often have a list of buyers ready and waiting. Buying a home is an emotional experience, and when you are making big life-changing decisions, you don’t want to deal with a robot!

Beautiful buying weather
This time of year is perfect for moving. The birds are singing in the trees; it’s warm, and the prospect of being moved in time to enjoy the summer tempts many home movers into selling and buying. As a result, prices stay buoyant, and the choice of property flourishes. It’s a busy time of year, which adds vibrancy to an already good market.

Happy homes
Many homeowners keep their homes in tip-top shape during the summer. The result is that homes become happier places. Whether you are relocating to the countryside or to a new street, this time of year lends itself well to making some everlasting memories.

Browse our properties to take a glimpse inside your future happy home.

Zoopla*



Landlords, here are some top tips on finding and keeping great tenants

 
The demand for your rental property is huge right now, having increased by 10% again this year on the back of years of soaring demand.* As a landlord, you want to maximise your return on investment by achieving the best possible rent for your property. You also want to secure your investment and build a good relationship with tenants.

Location
Before buying, think about your potential tenants. Proximity to hospitals, schools, transport links, or universities may help define your target tenant. If you have already bought, remember that location is a great plus when attracting tenants.

The nicer your property the nicer your tenants
Decorate your property to the highest possible standard. Keep a neutral theme using safe colours. If there is room in your budget to improve the kitchen, flooring, and bathroom, do so. Just be careful not to overspend. A well-presented property in good condition will fetch more than a less well-prepared property. Typically, a nicer property will attract better tenants who will look after it if it’s in great condition.

Make your property as attractive as possible
When it comes to advertising your property, make sure it is clean and in tip-top shape, with all issues that need addressing sorted. Good pictures of beautiful properties will help you find great tenants quickly and fetch a better rent, while most likely creating a home that your tenants will want to keep renting. This ensures your investment.

Move with the times
Install USB sockets, energy-efficient appliances, and LED lighting. Smart meters, good insulation. Anything you can do to improve the energy efficiency of your property are in everybody’s interest. Many tenants are concerned about the cost of bills at the end of each month and will pay more in rent for a more efficient home.

The value of a great letting agent
A good letting agent will find the right tenants for your property. Whether you are renting one home or have a large property portfolio, a managed service is a smart move to make. You can choose what level of managed service you want. Finding good tenants and taking care of references, deposits, and everything from maintenance to inspections is no easy task. With a managed letting service, your investment is in safe hands, leaving you with more time for the more important things in life.

A managed letting service is the best way to move forward
As the Renters Reform Bill passes through Parliament, the future of letting your property will improve. The entire industry is being overhauled, making life easier for good tenants and good landlords. Bad landlords will find themselves forced to improve their practises. By using a managed letting service, you are already halfway to achieving great returns while minimising risk. Meeting all the current legislative changes is not something to be feared. Having an expert on your side so you can make the most of these changes ensures that your investment will thrive.

Are you a landlord, or do you want to take your first steps on the buy-to-let ladder?

Contact us today so your investment can flourish.

Zoopla*



Landlords, do you want to know how to rapidly expand your property portfolio?

 
The demand for your rental property is huge right now, with demand per available property spiking last year by 250% above the 5-year average, while the demand for rented homes remains 10% higher than this time last year.* Interestingly, many landlords who have reached retirement age are selling part or all of their portfolios, giving you the chance to rapidly expand your portfolio with rental-ready properties.

Rents are increasing
Your investment is secure. Rents have increased by 20% in the past three years, increasing by 11.1% in the past twelve months to March 2023.* This means you have the financial means to reinvest in your portfolio, finance improvements, and meet legislative changes. With such great returns on investment, you are a safe bet for banks.

New opportunities
Smaller, more energy-efficient homes are in demand; increasing numbers of students are looking for accommodation; and a widening demographic of people are renting for longer. With larger homes arriving on the market with good scope for negotiation and development, the opportunities are endless. It’s no secret that larger homes are selling a little more slowly than those in the first-time buyer market. The opportunity to buy a larger property and transform it into multiple lets is, provided you get the numbers right, a fantastic way to increase your rental yield.

More buy-to-let mortgage choice
There are over 2,400 different mortgage deals available if you are buying a property to let.* If you are buying an existing portfolio or an existing rental property, then you are far more bankable than starting from scratch. This will mean you can rapidly expand your portfolio without hesitation and established rental properties may have tenants living in them already.

Buy rental-ready properties
Some landlords who are retiring or have not done their research have been scared by legislative changes. Choosing to sell their rental-ready, buy-to-let properties gives you the opportunity to rapidly expand your portfolio. Every industry goes through big changes at some point. The Renters Reform Bill is currently passing through Parliament, and though it will not become law for some time, some less informed landlords are exiting the market, citing this and other legislative changes as the reason. The reality is that if you do your research, all these changes will protect your investment and create more opportunities for you to prosper.

Talk to your agent
Knowledge is the key to unlocking the secrets of success in the buy-to-let market. This is imperative in today’s reforming rental market. With so many changes taking place and so much to think about the right agent can guide you along the right road. A great investment starts with finding the right property, and that starts with the right agent. Managing your property and placing good tenants, which is becoming increasingly important, is something a good agent prides themselves on, not to mention local market knowledge and a vast database of buyers, sellers, and tenants.

Get in touch today to see how we can help take your property portfolio to the next level.

Zoopla*



Preparing your holiday home for the summer season

 
If you let a holiday home, you may already be fully booked for the summer. Holiday homes are in big demand, both to buy and rent. Perhaps you are in the fortunate position of owning a holiday home for your own personal use, or maybe you do both. Holiday homes, like any other home, should be special places where happy everlasting memories are made, but unlike your private dwelling you can’t put repairs or maintenance on hold. You want to make sure everything is in tip-top shape to get those glowing reviews, which will help fill your diary far into the future.

Create a check list
It pays to be organised when it comes to property. Inspect your property regularly. Start with the basics and create a to-do list. Using your phone is a good tip because you can take pictures of repairs or issues that need addressing to accompany your notes. If you need to hire help, this saves a lot of time if you live a good distance from the property’s location. Whether you keep notes on your phone or on paper, create sections. Needless to say, you want everything to be as perfect as you can get it. Check everything, from the garden to the bathroom. It’s most likely that you will employ a cleaner. Remember to listen to the feedback of your guests, perhaps by reading the comments book.

Safety checks and insurance
It’s really important to keep on top of any safety checks and to have the correct certification, from gas safety certificates to electrical testing. You want your guests to have a great time, but their safety is paramount. It’s important to take out the right level of cover. From public liability insurance to building and contents cover, you don’t want to invalidate your policy by not keeping up to date with safety checks.

Make your guests feel welcome
Making a good first impression immediately puts your guest in a great mood. Chocolates and a bottle of wine or champagne, depending on what level of the holiday market you are entering, are always a great way to make your guests feel welcome. Simply paying attention to detail and keeping your holiday home in good order is equally important. A good play area for young families, polished glasses, or a hamper when everything is spotlessly clean, drawers full of good cooking utensils, and a nice corkscrew all add up to make your holiday home sublime.

A managed holiday let service
Holiday lets can be extremely lucrative. At the height of the season and in many locations, all-year-round revenue can be very strong. You can charge significantly more for a holiday let compared with letting a rental property. This could leave room in your budget to use a managed service, which could take care of everything from bookings to maintenance, cleaning, and gardening. Holiday homes involve more work with your guests changing so frequently, so for many, this service is a must-have.

Finding the right holiday home
Finding the right holiday home for business purposes or for you and your family to enjoy starts with a good agent. Holiday homes today are not always idyllic cottages peering over the deep blue sea. From urban locations in the form of flats, apartments, and houses to country retreats, the right homes appear in all shapes and sizes. The sky is the limit when it comes to choosing a property, and that sky does not always have to be blue. Probably a good thing!

Browse our properties to find your holiday home this summer.



Summer loving for your rental home. Here’s how, with some TLC tips

 
Making a house your home is important and the great advantage of renting is that you will never be asked to fork out thousands on costly home renovations. Often, it’s the little things that you can do that will make a big difference. The number of people choosing to rent is increasing, and today there are so many affordable and interesting ways to make the most of your home.

Talk to your agent
A good first step is to talk to your agent or landlord. Many will be perfectly happy for you to paint or change wallpaper, so long as the work is carried out to a good standard. Others may not permit this but allow you to add shelving or improve the garden. It’s always best to check specifically on whatever it is you have in mind to improve.

Flowers, plants, and herbs
Keeping your home in good order, keeping it clean, and paying your rent on time will keep your landlord on side. In time, that could lead to more freedom to make the changes you desire. Adding a few plants to your sitting room and bathroom or your favourite flowers to the redundant fireplace at this time of year will add vibrancy. Why not grow some of your preferred fresh herbs in the kitchen or a tomato plant and fill your home with delightful scents?

Lighting
The choice of lighting available on the market today is endless. From outdoor solar lanterns and free-standing table lights for inside, to scented candles for either. Get creative and let your imagination run wild; use lighting to create mood and atmosphere for relaxation or task lighting for when you need to focus.

Garden
Perhaps it is stated in your contract that you are responsible for the garden. If so, you may have more room for creativity. Plant your favourite plants and add some sculptures of pieces that you love. Hang some lanterns or grow some of your favourite fruits in pots so you can take them with you if you decide to move.

Create an outdoor living space
If you have a balcony, backyard, or substantial garden, add vertical gardens filled with the flowers, fruits, herbs, or plants you love. Add some candles, outdoor furniture, a pizza oven, a firepit, or a barbeque. Perhaps yoga is your thing, and you want to add a small portable water feature to complement the sound of relaxing music.

Furniture
If you are buying furniture for your home, it’s always a good idea to think about how adaptable it is. Neutrally coloured, modular furniture that can easily be rearranged for your next move or to simply change with the seasons when you fancy moving things around for summer.

Wallpaper panels and wall hangings
If you can’t change the wallpaper, then simply make or buy some wallpaper panels or wall hangings. Decorated to your design and tastes, they will make a big impact and are a cunning way to hide any imperfections.

Prints and pictures
Hanging photographs of special moments or places you are passionate about is a relatively inexpensive way to add something special to your home. A perfect sunset in a place that you love, captured in a photograph, will brighten up your walls. When combined with the right lighting, such details add serenity to your mood and increase your feelings of well-being.

Mirrors and murals
Mirrors will add light and space to your rooms, making them appear larger. Experiment with the various styles of mirrors now available or place them on opposite walls and enjoy the effect! Murals work well in children’s rooms, making a big impact without any permanent changes.

Add a bit of you
This is really important; your home, whether it’s rented or owned by you, should tell the story of your life. Display your passions, collectible pieces from your travels, and the flowers and colours you love. There is no right or wrong when it comes to decorating; simply make it work for you, and others will most likely love it too.

Renting a new property does not take long.

Browse our properties to find your perfect place today.



Thinking about adding an outdoor kitchen or dining area to your home?

 
There is no doubt that even in this sometimes-rainy climate, alfresco dining has increased. Outdoor living spaces are what you make them, and today, the scope for creating your perfect outdoor space is limitless. An outdoor kitchen makes a lot of sense for a UK-based property because it creates a sheltered area for you to enjoy even if the weather is changeable.

Add a pergola
A good move is to build a pergola to shelter your kitchen; that way, you could potentially use it all year. Place your kitchen against your garden wall or simply arrange it however it feels comfortable for you, but keep in mind that you want your outdoor kitchen to be a sociable space so you and your guests, family, or friends can chat and get involved in your evening.

The size of your space is not important
You don’t need to have a vast outdoor space to build an outdoor kitchen; in fact, sometimes the more compact the space, the better. There are a huge variety of ovens, barbecues, and electric hobs to choose from. Anything goes, so design it your own way. If pizza and wood are your preferences, consider building your kitchen with wood, leaving space for a pizza oven.

Build around the barbeque
Perhaps you like a traditional, real charcoal barbecue. Build your own barbeque using bricks and match them with some walls that will support your food preparation areas. You may decide to make your work surfaces moveable so that they can be stored in the shed during the winter months. On the other hand, you may own a feature barbeque, and that could be the centrepiece of your kitchen.

Make it a moveable feast
Using free-standing tables or wheeled furniture is ideal if you are planning on setting up your kitchen for a few months, a few hours, or forever. If you love tiles, then tile a table or source one. There are plenty of furnishing options that can complement your dining table.

Two in one
If you have always liked the idea of having a bar in your garden or outdoor living space, consider building it large enough so that it could also serve as a kitchen. That way, you will have solved two problems with one simple solution. Build it yourself or buy it, then stain it, and it will last for years. Add some bar stools to make it a social hub for your friends and family.

If you build, do you need planning permission?
The short answer to this question is no, as long as you don’t exceed 2.5 metres in height and your structure is less than 2 metres from your property. The positive aspect of building something more solid is its durability and all-year-round usability. Add an outdoor heater or log burner, and you could feast even when it snows!

Will an outdoor kitchen add value to your home?
Any improvements you make to the outdoor living spaces of your home will most definitely add to its value. Creating outdoor spaces that seamlessly flow from your home's indoor living spaces is becoming a must have. No longer an unattainable luxury, making them highly desirable and sought-after.

Browse our properties to find a home with the perfect indoor and outdoor living spaces for you.



Average seller asking prices fell by £82 this month – is this a good thing?

 
In June, average new seller asking prices fell by £82 (-0.0%).* The summer property market always heats up and then takes a little sidestep as the holiday season kicks in. However, the average price of a property coming to the market jumped in May by +1.8%, which was higher than expected.* This is yet another sign the summer property market is performing well, and now is still a good time to choose the home you want. But how does this act as a breather and benefit the market?

Buyer demand
During the first two weeks in June, buyer demand was 6% higher than the same period in 2019’s pre-pandemic market.* So if you are thinking about putting your home on the market, now is a great time to do it. Prices are still strong, and your property will have increased rapidly and significantly in value over the past few years, so you will achieve a great price.

The property market takes care of itself
It’s not always healthy for asking prices to constantly grow month after month. The summer property market is hot enough, and it’s better for it to be stable rather than overheat. A little splash of modesty reassures the market and simply brings it back to where it should be if the market gets ahead of itself.

The property market takes care of you
The market has had a lot of challenges, yet it remains resilient. As it slows in pace, this creates a much more predictable environment. This means sudden changes are unlikely, meaning you will not get caught out when achieving a good selling and asking price when you are in between homes.

Better negotiating power
When the market pauses and it’s time to make an offer, you have a better chance of getting well-calculated offers accepted. Your agent will know the market inside and out and can advise you on an up-to-the-minute pricing strategy.

Does the price really matter?
Price and affordability are very important when considering which home to buy, particularly if you are taking out a mortgage. The value of property increases and decreases slightly in the short term but always rises significantly in the long term. So in many ways, it’s about affordability, not property price rises.

Can you put a price on happiness?
Finding the right home that suits your needs and desires is important. You will most likely spend many years of your life in your new home. Your property is more than bricks and mortar or an investment; it’s a living, breathing part of the family.

The law of averages
You are not a number, and neither is your home. Each person’s home is as unique as they are. It could be that you surpass all your property expectations. Whether this is from achieving a great asking price or simply finding a home that fulfils your dreams for a lot less than you imagined. As the market stands, it’s not about making quick money but rather buying an awesome property and making the most of it.

Browse our properties to view the homes you could be missing out on.

Rightmove*



Could waiting to buy your new home cost you money?

 
Making decisions can be difficult at the best of times. Buying a home is a big decision, so you can’t be blamed for becoming a little pensive or perhaps even anxious about making your move. Deciding whether you are going to move now or wait and see what happens is a dichotomy for some buyers. As soon as you turn on the news, you will no doubt be bombarded with the cost-of-living crisis, another interest rate rise, or another reason to worry. It’s little wonder some people decide to sit on the fence. But could doing that cost you more money?

Waiting for interest rates to fall may not save you money
There is little doubt that we have been spoiled in the past with ultra-low mortgage interest rates, and many analysts argue that they will never fall to this low level again. Inflation is falling, which will lead to a reduction in interest rates in the near future as the Bank of England expects inflation to fall to 5% by the end of this year.* In the meantime, as interest rates increase by small amounts, if you are not on a fixed-interest deal, your mortgage will increase. But while these small increases may feel unfair and, for some people, mean squeezing their budget, they could be insignificant in the face of rising house prices. Interest rates are also peaking, which means in the not-too-distant future they will come down.

Rising house prices balances your budget in the long run
Most people who buy a home in the UK will keep it for many years. House prices may fluctuate just as interest rates do. Despite the numerous recent rises in interest rates, average asking prices in May this year increased by 1.8%.** Interest rates are peaking, which means they will shortly begin to decrease. As interest rates and inflation continue to fall, house prices will ascend again. So, if you are waiting to see what happens, you run the risk of paying more for the home you want in the future. In February 2013, the average UK house price was £167,682 in February 2023, that figure stood at £288,000. *** Set against this longer-term perspective, if there are sudden and significant changes in the market, the reality for most homeowners is that their properties' value in the long run will cover the cost of these short-term increases in interest rates.

Properties are unique
There are no hard-and-fast rules. Local property markets are layered with unique and differing qualities. Whatever the national economic conditions are, the potential to gain equity in a home due to its condition, location, or potential can secure your investment in the face of challenging times. The possibilities are endless, and there is always room to buck the trend in a big way. The only limit is your imagination.

Mortgages
There is a huge choice of mortgages available on the market. Knowing that you can change your deal or re-mortgage when interest rates fall again has made some buyers think outside the box. Options such as porting, 35-year mortgage deals, green mortgages, 100% mortgages, and interest-only mortgage deals could decrease your monthly outgoings - if that is a factor when it comes to buying the home you want now. In the grand scheme of owning your home, high interest rate costs will essentially evaporate over time.

Are you fed up with waiting to make your big move? Browse our properties today.

Bank of England*
Rightmove**
Office for National Statistics***



Demand for apartments and flats is reaching new heights!

 
With fantastic views, minimal effort, and trendy, modern, and classical designs, apartments and flats are as appealing as ever when it comes to buying a place to live. So, it’s little wonder urban areas and remote locations are seeing healthy levels of interest in this convenient way of living.

Demand for one- and two-bedroom flats across the UK increased from 22% to 27% in the year to February 2023, while one- and two-bedroom flats for the same period in London accounted for 49% of demand.* There are a number of reasons for this. Easy living
If you don’t want to be weighed down by a big mortgage or large monthly bills, flats are the way forward. Often located near good transport links, shops, and amenities, adding to a potentially great social life with bars, pubs, and other apartment owners on your doorstep, life can be easier and potentially more fun than living in other forms of property.

Low maintenance
It’s most likely you will not have a garden to worry about, and if you do, it could be maintained for you. Alternatively, you may enjoy a balcony as an outdoor space, in which case you can enjoy the novelty of good views and a different perspective on things. It’s easier to keep on top of cleaning with little or no maintenance involved.

Cost of living
As interest rates rise and the cost of energy soars, although right now some of these expenses are at last reducing, simply heating a flat often costs much less than even a modest terraced house. Decorating and revamping an apartment is most likely to be more affordable.

First steps and more
Typically the domain of first-time buyers or perhaps individuals who have chosen to retire, apartments are becoming increasingly popular with a broader demographic as they improve in size, quality, and location.

A great investment
The demand for flats and apartments is always high. If one day you wake up and decide you want to rent it out, you are guaranteed to get a good income without facing costly maintenance bills. And because of this rental and buyer demand for properties of this type represent a stable investment.

Energy-efficiency
Consuming less energy for heating and lighting thanks to good insulation and proximity to other buildings makes flats more energy efficient. And if they need updating to improve this, then those costs are also significantly less than for larger properties.

Downsizing
Many people are downsizing. Perhaps the family has flocked the nest. An increasing number of people choose to live life as an experience, want to spend more time and money travelling, have hobbies or work in many locations throughout the world, and don’t want to be tied down.

Outlook for the future
The UK property market is proving resilient and offers a huge diversity of architecture and property options for you to choose from and enjoy. Whether you buy a flat as a buy-to-let, as a private dwelling, or both. Demand is expected to grow solidly well into the future.

Looking for a house or an apartment? Browse our properties to find the one you want to buy.

Zoopla*



Ever dreamed of living the fairy-tale in your own castle?

 
Dreams can come true. It does not have to be a winning lottery ticket, a phenomenally successful business, or making it as a world-famous actor, artist, or athlete that provides the means of living a fairy-tale life in the castle of your dreams. The UK is a land full of castles and magical homes that are the envy of the world. With that in mind, here are a few ideas to make your dreams of owning a castle a reality.

Buy with others
With some castles on the market in the UK hovering around £1 million, it’s a tempting idea to buy with a selection of family or friends. Sharing the costs, particularly those associated with repairs and maintenance, could be achievable with the right approach. There is scope to become self-sufficient when producing energy, and the more people that share the costs, the less the financial burden. Creating a strong, legally binding contract between those you trust will allow you to live an enchanted lifestyle without any worries haunting you at night.

Create the ultimate holiday destination
Indoor and outdoor space are not going to be in short supply. You could create holiday apartments and rooms and develop a hotel or guest dwelling. Outside lodges and camping may be a possibility, as may purpose-built holiday lets. The revenue created from these is always in demand and can be very lucrative all-year-round.

Create a spectacular place to live
Many castles have a vast number of bedrooms; some of these could be converted into flats or apartments, which would provide you with an exceptional level of income as you could share the dream with people who do not or can’t afford to buy a castle. Many people love the idea of living in a piece of history, with all the accompanying grandeur, without the fear of living in such a vast property, especially at night when it’s time to switch off the lights.

Become a food supplier
The UK is a world-leading producer of artisan food, from beer to bread, berries to beef, sweets to savouries, and vegetables to vegan products. What better way to become self-sufficient while supplying fresh and healthy food to domestic and overseas markets while making highly lucrative returns?

Create a day out
The possibilities are endless. From historical tours and outdoor activities to hosting sporting events, ghost hunts, and artists’ weekends to facilitating conferences and the events of organisations and clubs. Wedding venues, nature walks, health retreats, fishing weekends, to murder mystery weekends. Create a diary of events and make your castle earn its keep.

Find an investor
Having a strong vision for your castle is everything when it comes to finding an investor. The more detail you can provide with projected income leading to profits, the more likely you are to find an investor. As time goes on and a business is born, banks are more likely to get on board, which will allow you to take full control of your destiny.

Whether you want a cottage, a castle, or something in between, find your dream home by browsing our properties.



How do the summer holidays affect the property market?

 
The early summer months are traditionally a busy period for the UK property market. It’s a gorgeous time of year to view an abundance of beautiful properties. Many people are on the move. While it’s still a hive of activity with a huge choice of homes, the property market takes a little summer siesta as homeowners take a holiday. This gives you a chance to make your move. But don’t be fooled into thinking it will last for long, so if you want to take advantage of it, you need to be quick.

The summer property market is resilient
The summer market is vibrant, with the average new seller asking price falling by just £82 (-0.0%) in June to £372,812.* Despite the various challenges, including rising interest rates and the cost of living, the property market is resilient and in good shape. This change in prices is negligible in percentage terms, and a side-step can be a healthy pressure release that allows the property market to cool off.

View your ideal home from the beach
Sometimes getting away from it all can help bring about clarity of mind, which is very useful when you are making big decisions. Perhaps the beach or poolside is the perfect place to peruse your potential properties. And a good time to discuss your big move with your partner while you are away from the hustle and bustle of everyday life.

Enjoy quieter roads to your new home
With schools closed for the summer, the roads become quieter, and you can drive to viewings with less stress. This means you can relax a little more and take a bit more time to enjoy your viewings. With an increased sense of calm, talk to your agent, who will expertly guide you through your potential new home and anything that helps you with your home move.

Leave your agent to sell your home while you take a holiday
Hop on a plane, boat, or if you’re jumping in the car to drive to your holiday, whatever you are doing if you have made the decision to sell, leave it with your agent and enjoy your holiday. Perhaps by the time you return, your house will be sold.

Make an offer with less competition
With fewer people around, you may be able to open the door to making an offer below the asking price and getting it accepted before others have even viewed the property in question.

It’s the perfect moving season
With more family members to assist your big move and longer, warmer days to enjoy once you are settled in, the summer is perhaps the best time of year to move. And you may be able to save some money on home removal costs with more hands to help. If you hire a removal company, you may find it easier to find the right help.

Enjoy your new home
When you have finally moved into your new home, you may still have time to make the most of it during the warmer months of the year, when utility bills are a little lower. Any outdoor improvements, from weeding the garden to adding to your outdoor spaces and simple maintenance, can become a joy rather than a chore.

Take advantage of the summer holidays and find the home you love. Browse our properties.

Rightmove*



Interest-only mortgages are a good move to make for landlords

 
If you are a landlord and are frustrated by the continuous rise in interest rates when all you want to do is start or expand your property portfolio, taking out an interest-only mortgage could be the answer. Many seasoned landlords choose this option when investing in property, even during the good times when mortgage interest rates were ultra-low.

Demand is incredibly strong
A survey conducted by paragon of 700 buy-to-let landlords found that 67% reported tenant demand over the first three months of 2023, up from 65% for quarter four of 2022.* Rents are increasing all the time, and one of the main reasons for this is rising interest rates. As a landlord, this will most likely be your biggest expense.

What is an interest-only mortgage?
Just as the title suggests, you only pay the interest and not the capital on an interest-only mortgage. At the end of the agreed-upon term, you must pay off the entire balance owed. Because you are only paying interest, your payments will be much cheaper compared with a capital repayment mortgage. Some landlords choose to sell their property to repay the outstanding balance.

So why choose an interest-only mortgage?
  • 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.
Browse our properties and create the buy-to-let portfolio you have always wanted.

Paragon*



The benefits of renting with a letting agent

 
Finding the right property is so important. You want to feel happy, content, and safe in the place you call home. And sometimes it’s not easy to find everything you're looking for under one roof.

A greater choice of properties
A good chat with your agent is always a great way to start your search. When all is said and done, it all starts with finding the right home for you. Agents often know about properties that are coming on the market before they are advertised. This means you can get an early notification on a property that could be ideally suited to you before it’s snapped up. And by telling your agent what you are looking for, they become another pair of eyes in your search. If you do all of this yourself, you may miss an opportunity, and agents are good at pointing out something you may have missed. Or opening your mind to a property that you may not have considered.

A friendly and supportive team
It’s good to have an ally when renting a home. Agents only use good, law-abiding landlords, and it’s a comforting feeling knowing that there is someone else on your side. Often with an entire team of people who have your best interests at heart. It means you never have to worry about getting in touch with your landlord; simply call or get in touch with your agent, who will have a dedicated team to take care of everything for you. From protecting your deposits, the health and safety of the property, and maintenance to understanding your rights and responsibilities, your agent will have your back.

Letting agents have to be compliant
Like so much in life today, there are lots of checks that need to be carried out. And using an agent ensures that all necessary checks on the property you want to rent have been carried out. From gas certificates to smoke alarms and references to your deposit, all other checks will be carried out to a high standard, so you don’t have any sleepless nights.

A good tenancy agreement
Knowing your rights is important and having them backed up with the right contract is imperative. Sometimes contracts can be confusing and cryptic. Good agents will explain your rights and make sure that your contract is in your best interests. And if you have any worries or concerns, they are just a phone call away.

Maintenance issues will be solved quickly
If your property is managed by your agent, then when it comes to repairs or emergencies, a good letting agent will most likely prevent these things from happening in the first place. But if unforeseen repairs come about, you can rely on them to take care of things for you instead of trying to get in touch with your landlord.

Agents keep up with trends and legislation
Not many things in life stay the same, and with the Renters Reform Bill on its way, understanding your rights has never been more important. It’s one thing to understand them, and it’s another to implement them. Agents are aware of constantly evolving legislation when it comes to energy efficiency as well as new trends, and all these things add to the quality of your life.

Accompanied viewings with an expert
Many good agents will accompany you on viewings, and this is the length to which agents will go to make you feel happy about your choice of property. You can explore your new home while asking as many questions as you like. This gives you a chance to get to know your potential new home in detail before making a decision. It’s this dedication to detail and personal service that, for many, makes a good agent a must-have.

Get in touch with our team of property experts today to see how we can help you find the best version of your home.



The virtues of virtual house viewings

 
No matter how advanced technology becomes, there is nothing quite like face-to-face property viewings. This is particularly true because you can get a sense of how you feel about the property, and when you are investing a lot of money in bricks and mortar, you can’t be blamed for wanting to get up close and personal with it as much as possible. But with all that said, virtual viewings have many great benefits and can enhance your home-hunting experience.

There are a few ways you can conduct virtual viewings
Virtual tours are an established part of viewing properties online, and you can easily move about inside your potential new home online with most agents offering 3D viewings. Thanks to WhatsApp, Facetime, and Zoom, bespoke real-time video tours with your agent can easily be arranged, with the advantage of being able to talk to your agent as you view the property. You can ask as many questions as you like and direct your agent to certain features of the property.

You can conduct virtual viewings from anywhere
It could be that you are just on the other side of the city or that you are too busy to stop everything to attend a viewing. Wherever you are in the world or whatever you are doing, you can explore your potential new home or investment, and that saves you a lot of time and money if you are working or located overseas. Gone are the days when you had to fly home before you made a decision or an offer.

Virtual viewings when you are selling
If you are selling up and you don’t like the idea of lots of people coming to your house to view, then virtual viewings can help. And if you are conducting your own viewings, you will not have to be home quite as much, so you can get on with life more easily.

Virtual viewings can give you more time
By arranging a virtual viewing, you are giving yourself a chance to quickly get to know your potential new property. This then gives you a little breathing room to think and compare your choices.

You don’t have to wait before you make an offer
If you love what you see and want to make an offer on a property, you can do it there and then. If you are in competition with other buyers, this can be helpful in getting to the front of the queue. Your agent, solicitor, or conveyancer can take care of the rest.

Virtual viewings can be used in conjunction with face-to-face viewings
You may view many properties virtually until you find what you are looking for. And if nothing else, virtual viewings help you narrow down the final contenders for the big decision. There is nothing to stop you from conducting a face-to-face viewing before you make an offer.

Contact us if you would like to arrange a face-to-face or virtual viewing with one of our agents today.



Top tips on preparing your house for sale during the school holidays

 
Preparing your home so that you can create priceless happy memories during the summer months ensures all members of the family are free to roam and play in a safe and fun environment. It also reduces stress levels when younger members of the family spend more time at home and can become a rowdy bunch when not at school. And if, like many people, you are considering moving to a better home, keeping it in order will help you achieve your moving goals. So, here are a few tips to help you make life easier.

Create some space
A change is as good as a rest, and moving and rearranging the furniture in your home to make it safer for your little ones to play will also showcase your indoor spaces for potential buyers. It may also give you some ideas on how to make better use of the rooms in your home while clearing out any no longer needed or tired furniture and other items.

Clean and de-clutter
It’s incredible and sometimes hard to believe how much space the little things in life take up. From bottles to utensils on kitchen worktops—things that you want to be out of reach of curious children—to old mail and the never-played-with-any-more toys. Cleaning is something you will be doing a lot of at this time of year, so why not go to town and clear out the closets and give everything a good clean? This will make it easier to maintain levels of hygiene, and cleaning up after the kids will be much easier. Your home will also look and feel more appealing during viewings.

Create a list of activities
By being organised, you can plan your day to fit around viewings. This will help prevent boredom for you and your family! It also gives you the means to plan your day and break different activities into manageable chunks, giving you all something to look forward to.

Sort your outdoor spaces
These are hugely important to buyers, and they need to be safe with no sharp edges for your buyer’s family as well as yours. Creating a perfectly amenable family dining area will give you a great place to enjoy happy alfresco memories. Outdoor spaces should naturally create a seamless flow from the indoors to the outdoors. If your home is very much a family home, perhaps a tree house could mean the new owners bought two homes for the price of one.

Make the most of your garden
There is little chance the children will want to help you these days! But if they do, what a bonus! That said, even if you are not a keen gardener, you could inspire younger members of the family with interesting flowers or fruit trees. Weeding and lawn cutting are a must to make the most of your garden’s appearance, but no prizes for guessing who will get that responsibility.

Will all this help you sell your home?
Absolutely; it’s all about achieving your asking price. And the numbers in property are big, so every little thing you do adds up to make a big difference.

Get in touch to see how we can help your family create a thousand wonderful memories by finding your perfect house.



Why buying a bigger home could be better

 
Perhaps you need more space for your dogs, horses, or hobbies, and you want a house in the country. It could be that you are moving to the suburbs or need more space for your growing family. Whatever your reasons for buying a bigger property, now could be a good time to take the plunge so you can upgrade your home and enhance the quality of your life.

You could get more house for the same money
If you decide to move from an urban area to a more rural location, then you may be able to get the house you have always wanted for the same price as your current home. At the very least, your money should go further.

You could get a bigger discount
Demand for bigger homes in May was 1% lower than it was in 2019, compared with first-time buyer homes at 6%, and homes that fall between these sectors at 3% above 2019 levels.* Larger homes have always had greater scope for bigger discounts on asking prices. But right now, with the market favouring smaller homes and larger homes selling a little more slowly, you may have quite a lot more haggling power when it’s time for you and your agent to make an offer below the asking price.

Larger homes can be very energy efficient
Modern homes have become so much more energy efficient. With better insulation and the potential to create self-sufficient energy sources, you no longer have to dread monthly bills. So, running a bigger home is not as expensive as in years past.

Bigger rooms and more of them
You will have more space for friends and family to stay over. You could get a lodger to provide another stream of income or if you need extra space for new additions to the family. Maybe you want a gym or a hobby room or are looking to create the perfect work-from-home space with an awesome view.

A beautiful garden with more potential
Finally, you can have the garden you have always wanted, and this is where your only limitation will be your imagination. Inspiration is everywhere, and there is so much more you can do with more space. From creating great outdoor spaces and dining areas to tropical gardens.

Larger entertaining spaces
When it comes to those special times of the year—indoor and outdoor parties—the options larger homes offer are endless. You may want to create a games room, a bar, or an awesome indoor entertaining area that effortlessly flows to a magical outdoor area.

The garage or workshop
If working from home involves more than a computer screen and a phone and you need a workshop or a garage for your classic car or hobbies, then your budget could allow you to enjoy more scope for outdoor buildings.

Create multiple dwelling places
Bigger properties can easily be divided up into smaller properties. Whether you are creating a space for a teenager or an elderly relative. Perhaps you are interested in letting a room or creating flats for a buy-to-let business.

Browse our properties to find the home that fits your requirements perfectly.

Rightmove*



Why letting agents could hold the keys to success for landlords

 
The buy-to-let market is undergoing many changes. Demand and rental prices continue to grow, with average asking rents outside of London rising for 13 consecutive quarters at £1,190 per calendar month, for new tenants during the first quarter of 2023. * This is good news for landlords because the increasing costs of interest rates and energy efficiency reforms are covered, and profits remain strong. Many of these changes and reforms can feel unsettling for landlords, which is why a good letting agent has never been more important. This is because, in order to protect your rights as a landlord, your property needs to be managed properly.

The Renters Reform Bill
This is on most landlords’ minds now and a cause for concern, but it needn’t be. Introduced to Parliament on May 17, 2023, but not expected to become law until October 2024. Its aim is to improve the lives of 2.3 million landlords. ** Section 8 will be strengthened, which allows landlords to end tenancy agreements early if they have good reason to do so. Despite the fears some have expressed about abolishing Section 21 "no fault" evictions, the reality is that it will make it easier for landlords to evict tenants for anti-social behaviour and repeated missed rent payments. And with the new legislation in place, landlords can insist on their tenants' pets having pet insurance, certificates, and, in the case of dogs, being microchipped. Landlords will be able to increase rents after a notice period. To make the most of this reform, landlords need to be compliant. By staying on the right side of the law, the law will protect you, ultimately helping you thrive as a landlord.

Referencing tenants
Agents have a database of tenants waiting to rent your property. But they will not do so unless the right screening process has been followed. Placing good tenants in your property is imperative and reduces the risk of any tenants who could act unlawfully while renting your property.

Experts on the property market
Agents know how to maximise your rent by understanding the market. From knowing which areas to invest to tips on making the most of your property. Expert agents who deal with tenants every day can protect your investment by understanding the competition and the latest trends.

Maintaining your property
Your property will be kept in tip-top shape by a team of reputable contractors who have a long-established relationship with your agent. Arranging inspections will give you peace of mind, and keeping your tenants happy will save you time and money by preventing costly repairs.

Preventing and sorting any disputes
By using an agent, your property, contract, and tenant placement processes will be kept compliant on all levels. This reduces the potential for any disputes, and if they do arise with an agent’s team behind you, any conflicts will be resolved quickly.

Time management
Managing property can feel like a full-time job; perhaps it is. From marketing to maintenance, contracts to conflicts, agents will save you time, stress, and worry. This frees up your time so you can concentrate on other aspects of your life, such as expanding your property portfolio while protecting your investment.

Excel as a landlord and embrace the changes that open doors of opportunity by contacting us today.

Rightmove*
GOV.UK**



Worried about rising interest rates? Here are a few things you can do

 
Many people are on fixed-rate mortgages right now, and with the current rise in the base rate, it’s a good thing because it means your mortgage will not increase. But what if you want to move now and take advantage of the huge choice of inspiring homes available, and your mortgage deal is coming to an end?

Why another increase in the base rate?
The Bank of England raises the base interest rate to curb inflation. Inflation is the increase in the cost of goods and services, or the cost of living. The idea is that an increase in interest rates means more people will save instead of spending, which reduces inflation as there is less demand for goods and services. The rate of inflation is still way short of the Bank of England’s 2% target, but the bank expects inflation to fall to 5% by the end of this year.* There are a few reasons for this. Wholesale energy prices have fallen, and the price of imported goods is expected to fall as production issues are resolved and there is less demand for goods and services in the UK.

Here are a few things you can do now:
Interest rates may be a little on the high side now, so if you take out a mortgage now, there is nothing to stop you from changing your deal in a couple of years when rates are more favourable. In the meantime, here are a few options for you to consider:
  • 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.
Browse our website if you are looking for the right home with the best possible team to guide you in any way we can.

Bank of England*
GOV.UK**



Buyer demand remains strong this summer

 
Buyer demand in July was 3% higher than in 2019, but the number of available properties for sale was 12% lower than the same period in 2019.* This means that your home is in demand. While there is a healthier choice of properties than in recent years, demand still exceeds supply.

The housing crisis
There is a backlog of 4.3 million homes that are missing from the national housing market because they were never built.** With so much talk of high interest rates and the cost of living, it’s easy to forget that the housing crisis has not gone away.

Some good news about inflation
Inflation is finally falling, as it dropped to 7.9% in the year to June.*** This is the lowest level for over a year and will impact the base rate, meaning lower mortgage interest rates should follow. As this happens, the property market will revitalise, but without the sudden upsurges of the past.

First-time buyer homes
The national average asking price for these types of homes decreased by -0.4% from June to July, with an annual change of +0.3%.* The demand for first-time buyer-type properties is high, with many people still managing to get a footing on the ladder despite all the challenges. The mortgage guarantee scheme, which ends in December, has helped, as has a competitive range of mortgages from high-street lenders.

Second-steppers homes
The national average asking price for these types of homes decreased by -0.5% from June to July, with an annual change of +0.6%.* With many home movers getting a good price for their first-time buyer-type homes, they are taking advantage of good levels of equity and moving to something bigger. Whether it’s a house in the suburbs or a townhouse, the figures show that these types of houses have increased in value over the past year.

Homes at the top of the ladder
The national average asking price for these types of homes decreased by -0.1% from June to July, with an annual change of +0.8%.* Homes at this end of the market had not been quite as buoyant in terms of sales as those in the first-time buyer market. However, overall, as with all house types, the value of these types of properties looks healthy on an annual basis.

Spend some time with your agent
It’s easy to listen to the news or look at average house prices and arrive at the wrong conclusion. Agents know your local market intimately. Better still, they have the right approach when it comes to pricing your home at the correct level. Properties that need a reduction in asking price are 10% less likely to find a buyer compared to a property that was priced correctly in the first place.* Your situation will differ from that of the next person. You may have high levels of equity in your home, but even if you don't, agents today can put you in touch with mortgage providers and advisors who will create a solution that is right for you.

Get in touch today for advice on all aspects of your move

Rightmove*
centreforcities**
Office for National Statistics***



Dream homes: What does yours look like?

 
Everybody's house dreams are different. You might just be dreaming of buying a humble terrace house as your first property. On the other hand, maybe you are an experienced property investor and are thinking about something a little more grand. Whether you are renting and want a view of the sea from your perfect cottage or want a large Victorian townhouse, there are many ways to live the dream today. But often, it’s a whole set of reasons that make your dream home just that.

Architecture
Classical design and features found in a Victorian townhouse are always going to be very different from a contemporary design full of light and glazed walls. Perhaps you want to create a perfectly self-sufficient home that can source all its own energy using solar panels and wind power. That said, these days, you can have both. Taking a classical, older home and transforming it into something special with modern design while paying respect to its original features means you can enjoy the best of both worlds.

Location
A view of the mountains or a sun-kissed cityscape? Maybe you prefer the sea? If you are raising a family, then your proximity to great schools will be at the top of your priority list.

Many home buyers love the idea of living in a quiet English village with the perfect pub within walking distance. Perhaps you want all these things within driving distance of your perfect property?

Interior design
It all depends on your personal taste, but there is no shortage of inspiration and help, from furniture suppliers to interior designers, to inspire you and help you find your niche. If money is not an obstacle, marble is always beautiful and timeless. Real wood can create sophistication, but it is also a safe choice when it is time to sell.

Bedrooms
Whichever you choose—a ten-bedroom country home or a two-bedroom terraced house—it's your dream. When it comes to creating the perfect bedrooms, you will want each of them to be unique. And just because you buy a three-bedroom home does not mean it has to stop you from converting one of the bedrooms into a walk-in wardrobe. Perhaps you want the ultimate in comfort by buying a property with a master bedroom complete with an ensuite bathroom.

Bathrooms
Whether you want a wet room or a jacuzzi, the infinite number of colour schemes and designs to choose from will keep you busy if you decide to start from scratch. Or you simply love the idea of incorporating some technology into an already stunning bathroom. Sometimes, when you view your perfect home, you instantly know that your personal items and some plants are enough for you to be really happy.

Outdoor spaces
For many home buyers, having a large garden is an integral part of owning their dream property. And if you have enough space, there is very little you can’t do. From adding a gazebo, work-from-home space, and a hot tub to the little things like nice lighting, they all add up to make your dream home something magical.

Personal touches
Your dream home is not yet fully yours until you add your own personality and interests to it. Whether that is a fine art collection, a wine cellar, a gym, or simply nice flowers, plants, and pictures, it’s only when you have added these elements that you have truly moved in.

Contact us to find your dream home today



Eight great things about being a tenant

 
Being a tenant has a lot of advantages. In the UK, 36% of households rent, 35% of households own their house outright, and 30% of households are mortgage holders.* This technically means that the UK is now a nation of renters. It’s a good time to look at some of the great reasons to rent in the UK.

It’s easier to move
Once you find your perfect place, it’s relatively easy to make your move. With no selling or buying involved, you have a lot more flexibility to find something bigger or somewhere in a different location with speed and convenience, and your agent will take care of everything for you.

Fewer financial commitments
With an initial deposit for a rented property being a fraction of the amount needed for a deposit for a mortgage, you are already saving before you move in. Then, if there are any maintenance issues, you are not liable for the costs. You may find that bills are included in your rent, and this allows you to budget for the more fun things in life.

Less responsibility
With less responsibility for repairs, all you will most likely need to do if something needs fixing is call your agent, who will have a dedicated maintenance team. This, combined with a lower financial commitment and the legal responsibilities of home ownership, means you are not tied down.

You don’t have to worry about rising interest rates
Many homeowners are currently worried about increasing interest rates and paying their mortgages in the current cost-of-living crisis. When you rent, you don’t have to think about this, nor will you need to borrow or become tied down with a mortgage.

Social opportunities
Whether you are renting in the suburbs or a city apartment, because of the ease of moving, you can find a place near the social scene or amenities that most interest you. Whether you are addicted to travelling and want proximity to the airport, or you simply want to be near a decent gym, living close to good restaurants and bars will save you time and add to the quality of your life.

You can focus on other investments and goals
With fewer financial commitments, you could choose to invest in the stock exchange or perhaps properties in locations that are more affordable. You may have a retirement plan, a hobby, or a business you would rather develop. Perhaps you have other passions you want to pursue.

Greater freedom to explore
If you are developing your career and, as a result, may move abroad or change your job roles regularly and don't want the financial commitment of a mortgage, then renting can be the perfect solution. Renting also allows you to explore different living arrangements, from sharing to city life and then, in no time at all, country living.

Try out different properties
There are so many different property types you can enjoy renting. From a flat in the city to luxury homes, humble terraced homes to rural retreats. Whatever you are looking for, from a quaint village to a place in the leafy suburbs, it’s always worth talking to a good agent to help you in your search.

Contact us today to discuss your rental requirements

 
English Housing Survey*



Great news! Mortgage interest rates are falling

 
There is nothing better than good news, and while the UK property market is resilient with plenty of buyer demand and many home movers getting on with finding their dream homes. There is much to feel positive about thanks to lowering inflation and falling mortgage interest rates.

Falling mortgage interest rates
Mortgage interest rates are finally falling as the rate of inflation slowed to 7.9% in the 12 months to June.* This means that two and five-year fixed-interest rate deals have been reduced. According to Moneyfacts, the average two-year fixed interest rate deal fell from 6.81% to 6.79% in July.** While this is not a significant reduction, it is a good sign of things to come. With inflation now at its lowest level for more than a year. Many analysts now expect the Bank of England not to raise the base rate by quite as much due to slowing inflation.

Cost of living support
More good news is that lenders are now offering you the chance to extend the term of your mortgage or pay interest only for up to six months. This gives you a breather and will reduce your monthly outgoings. This was instigated by the government and aims to help people who are feeling the pinch of high interest rates.

First-time buyers
The Mortgage Guarantee Scheme was extended until the end of December 2023. The 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, you still have time to take advantage of it.

Increase the term of your mortgage
With mortgage providers now offering longer-term mortgage deals, in some cases up to 35-year terms, you can get on the move now as your mortgage will be more affordable. This could also be a short-term solution to buying the home you want now, as there is nothing to stop you from getting a new deal in a few years.

Have you considered porting your mortgage?
If you are currently locked into a favourable fixed interest rate deal but really want to move home, then porting your mortgage is the perfect solution. Some lenders will allow you to keep your existing mortgage to buy your new property. So, you can move home without changing your mortgage.

Talk to an expert
Your agent will put you in touch with a mortgage advisor who will be able to find a solution that works best for you. In June 2023, there were 5,000 mortgage products available on the market.****

Whether you are a first-time buyer, have a lot of equity in your home, or are downsizing and want to invest in a second property, there are many ways to go about financing a home you can cherish.

Get in touch with our dedicated team today to discuss your property aspirations

 
BBC*
Moneyfacts**
GOV.UK***
Zoopla****



Great properties are the foundation of a greater future for landlords and tenants

 
With 36% of all households in the UK renting*, the rental market is a vital part of the economy and vital for the population to thrive. When landlords provide great properties for tenants to live in, it creates a mutually beneficial and stable landlord-tenant relationship, but that is not all.

A happy tenant
Good landlords who maintain their property to the highest standards, whether with the help of a letting agent or not, are much more likely to have satisfied tenants. This means tenants will renew their tenancy agreements and feel secure in their homes. The landlord has an uninterrupted source of income.

Building a good reputation
A good landlord will gain a good reputation, and this means the potential to make more profit as tenants will be more attracted to your property portfolio.

Higher property value
Well-looked-after properties hold and gain value more rapidly than properties of a lower standard, which leads to greater opportunities to expand your portfolio as a landlord.

Lower vacancy rates
There's a significant demand for rental properties, and the demand for high-quality rental homes is even greater

Good properties always find good tenants; this means that, as a landlord, your property will not sit unoccupied.

Lower maintenance costs
Properties that are well cared for will cost less to maintain because any issues will most likely be prevented. A fully managed letting service can take care of your property, so whether you are a tenant or a landlord, you don’t have to worry.

Greater compliance
From gas safety certificates to tenancy agreements, a well-maintained property let through a good letting agent will take care of all of this for you. And with the Renters Reform Bill on its way, landlords and tenants need to be compliant to make the most of their rights.

More financial options
Great properties lead to great returns on investment, which means banks will back you when it's time to expand your property portfolio. Stability is the key to securing your investment.

A positive effect on the market and wider community
Good properties that are maintained well and have good tenants placed within them are good for the local community and the wider economy.

A fully managed letting service
This is one of the best ways to make sure your property is up to scratch in every possible aspect. From tenancy agreements to property maintenance, a fully managed letting service will give you more time for your life.

It can be time-consuming, from finding tenants to seeking references to sorting a blocked drain. But if you do enjoy being hands-on, you can choose the level of managed service you want. And if you are a tenant and you rent through a letting agent, then you know the entire process will be easier. If you have any maintenance issues, help is just a phone call away.

Contact us today for all your property needs, whether you are a tenant or a landlord

 
English Housing Survey*



Investing in the UK property market? Here’s a guide for overseas investors

 
The UK has a rich and diverse selection of properties in equally amazing areas and regions. From castles to cottages and terraced homes to modern apartments, whatever you are looking for, you will find it.

The UK property market can be a lucrative venture for overseas investors, but it's important to go about things the right way to make the most of your investment or slice of English country or city life. Here are a few things to consider:

Get to know the UK property market
Browsing property portals and talking to good agents who know local and national property markets inside and out is a great way to get the right information so you can make a sound investment. Or if it's a home by the sea or a city apartment to use as a second home, understanding that certain regions may stretch your currency will help you achieve your goals.

Legal aspects
A good solicitor or legal firm will be able to advise you on all legal regulations and tax implications for you as an overseas investor.

Many agents can connect you with excellent solicitors, conveyancers, and mortgage advisors who can make the purchase of your property a seamless experience.

Locations with huge rental demand
From the coast to the city, a quintessential village to amazing nightlife, or buy-to-let investments in the form of townhouses or apartments, the UK market is stable and strong, and the demand for rental accommodation is huge.

Finance
The UK is the centre and a focal point for world finance; there is a solution for practically any investment opportunity for you, wherever or however you want to go about building your portfolio or living a dream lifestyle. An expert financial adviser will be able to implement the perfect strategy to suit your property goals.

Property management
If you want to let your property, a good agent can manage the entire process for you, which means everything from screening potential tenants to property maintenance will be taken care of. Wherever you are in the world, you can rest assured that your investment will be in safe hands.

Rental yield and capital growth
Investing in a UK property with good rental yields but also gaining from the increase in value of your property over time, means you can gain a great return on investment in the buy-to-let market, while also benefiting from the increase in value of your property over time.

Have a plan
Think about how much you want to invest and perhaps how long you expect to keep the property for. On the other hand, if you want to buy a castle or country retreat and live like a royal, simply enjoy yourself.

Stay informed
Keep up good communication with your agent, while the UK property market is very stable and can offer excellent long-term investment prospects. It is nonetheless a dynamically paced market, and by communicating with your agent, you will minimise the risk of missing great opportunities.

Get in touch with our expert team today to discuss all your property goals



It’s not all about house prices

 
It’s worth talking to your agent this August as the housing market is in good shape for many reasons. So, whether you are on holiday or looking for a holiday home to buy, downsizing or moving to something better, here are a few good reasons to do so.

Every home is different
The location of your home is important, as is the property type. First-time buyer-type homes, for example, have been selling very well. But with all that said, your individual home stands for a lot too. Every home has its own personality and unique features that make it desirable to a buyer. And the chances are, if your home is in any way attractive to certain buyers, they will not be alone.

Demand for your home is strong
Buyer demand is 3% higher than it was in 2019.* It’s completely unfair to compare these figures to the unsustainable levels during the pandemic. But every cloud has a silver lining, and much of that rapidly gained equity will still be in your home. This means that if there is a crash, you are still in a good place.

Your situation is unique
The number of homeowners who own their homes outright in the UK stands at 35%, while the number of homeowners with mortgages stands at 30%.** If you are one of the majority that does not have a mortgage, you may be less apprehensive about making a move now in the face of fluctuating interest rates.

The long-term view looks good
In the long term, house prices increase, and if you are concerned about the short-term fluctuations in price, they will be absorbed by the long-term increase in the value of your home.

How much time have you invested in your property?
Many homeowners in the UK who buy a home will live in it for well over ten years. So, if you bought your home before the pandemic, you have a double layer of accumulated equity to fall back on. Many people are in this situation, and this, combined with good demand, sures up the property market.

Home movers are on holiday
With so many people enjoying their holidays at this time of year, the market may lose a bit of momentum. So often, these changes in price can come about because of seasonality. Now is a good time to get out and have a good look at the home you may want to move into. There is a lot of choice, and with the market being less frantic, you may have more flexibility when it’s time to make an offer.

Conclusion
So, what does this price change mean? Not a lot, and with years of equity, you are in a good place even if there is a sudden drop in prices. But as things stand, prices are steadily declining only slightly, which means you will not get caught out in the middle of your move. After all, you want to live in the home you want; you are not playing the stock exchange.

Contact us today to see how far your money could go towards buying your property dream

 
Rightmove*
English Housing Survey**



Landlords, are you interested in some tips to reduce your tax bill?

 
Being a landlord today is a business and for any business to succeed, it takes investment and time, but it will need to make a profit in the short or long term. There are many ways to thrive as a landlord, from investing in the right location to adding value to your property. But like any business, reducing your costs will help you make more profit.

A good chat with your accountant
A great place to start if you do not already have one is to talk to your accountant. They will be able to outline the most tax-efficient ways to manage your portfolio, whether it consists of one property or a vastly increasing number of properties. They will be versed in the latest legislative changes that may affect your business.

Form a limited company
Your accountant may advise you to form a limited company. It's not a difficult or timely process, but if you do choose this route, you will need a good accountant. When purchasing your property, you will be able to do so through the company, and as a shareholder or director of the company, you have capped liability for debts, losses, or legal claims.

Claim your expenses
Reducing your tax bill as a landlord is made easier by setting up a limited company, which will allow you to offset costs against profits. The best way to record these is to keep a log of all your expenses and always keep receipts and invoices. Your accountant will be able to advise you on what expenses you can claim.

Letting agent fees are tax-deductible
Keeping track of the small costs is also important, as all these things can add up over the year. Expenses such as phone calls can sometimes get overlooked. It’s also worth noting that if you choose to manage your portfolio through a letting agent, you can deduct their fees from your taxable profit.

Tax bands
Making full use of various tax bands is also a good way to reduce your tax bill. For example, certain tax bands may help reduce Capital Gains Tax. If you sell your properties regularly and they do not gain in value, you will not pay Capital Gains Tax.

Tax relief rules
While landlords can no longer deduct mortgage expenses from their rental income, relief is paid as a tax credit as a percentage of mortgage interest payments. While this is not as generous as the pre-existing system, it is still a good way to reduce your tax bill.

Green home grants
While this is not tax relief, it’s another way to reduce your costs. This can provide funding for landlords who make their properties more energy efficient. So, if you are a landlord and are thinking about improving your property’s insulation or double glazing, you may be eligible for a grant.

Contact us to find your perfect property investment today



Open-plan living or broken-plan living spaces. Do you have a preference?

 
Open-plan living is not for everyone, but with a touch of creativity, you can transform your living spaces into something truly amazing, making your home a delightful place to live. So, if you are unsure which to choose in your property search, here are some ideas that may open your mind.

What is open-plan living?
Open-plan living adds lots of light to your living space and creates a seamless flow between different areas of the house, such as the living room, dining area, and kitchen. This layout creates a sense of spaciousness, makes it easier to interact with others, and can be ideal for families with young children, allowing parents to keep an eye on them while cooking or working.

What is broken-plan living?
Broken-plan living aims to retain openness while also creating a level of definition and division between your living spaces. This is achieved in many ways, from partial walls to furniture arrangements. It provides a balance between open-plan and traditional separate rooms, offering both a sense of connectivity and some degree of privacy.

Do you really have to choose?
It’s all about subtly; there are so many things you can do to take advantage of open-plan living while still creating defined areas that are cosy, private, and full of differing atmospheres as you move to each area of your home.

Add a window
Retain light and create a space within your floor space by adding an internal window. You could do this for the purposes of any function you like, from a play area to a reading space near a fire. This will allow you to have privacy while still being connected to the rest of your living areas.

Create a study
Adding some steps to an elevated study so you can take in the rest of the house while working, reading, or enjoying a hobby is another way to define this space. Use glass, metal, wood, bricks, or plants to create your perfect workspace.

Half-walls
Breakfast bars are nothing unusual, and adding half walls is a blast from the past but still works. Using very small, right-angled half walls made from any material you desire and decorated in interesting colours can have a big impact. Or if you prefer curves or flowing lines, then create those to help divide the areas you feel work. It could be perfect for the kitchen or a great place to watch a movie.

Add a chimney breast
This is a clever way to create cosiness and a classical sitting-by-the-fire feeling while creating privacy. Tall, small, walk-around, or floating fires are brilliant for creating the perfect place to relax while satisfying your desire for more space.

Be creative and be yourself
There is so much you can do to make your broken-plan living space your own. Furniture, whether modern or antique, to trees, sculpture, or a walled wine rack if that’s your thing. Make it your own and experiment. Find inspiration everywhere and own it.

Do you feel inspired? Contact us today to find an amazing home



Six mistakes landlords should avoid making

 
The rental market is highly lucrative and full of opportunity, with soaring demand and lists of people looking to rent. As a landlord, you are set to gain a good return on investment; it’s just a bit more complex than it used to be.

Not conducting tenant screening
It’s vital to carry out the right background checks. The last thing you need is to place a tenant who is problematic when it comes to damage to your property or paying rent. Credit checks and references are good ways to ensure you are letting your property to the right tenants.

Not keeping on top of maintenance
It’s imperative to keep on top of your property. Small issues can very quickly become expensive problems if not dealt with quickly. If tenants live happily in a well-maintained property, then this reduces the risk of accidents, claims, or losses in revenue if your tenant decides to leave.

Not conducting inspections
A great way to prevent expensive repairs is to conduct regular inspections of the property. This will help you identify any potential problems before they become repairs. It's vital that you give your tenants at least 24 hours' notice before conducting viewings. It’s less about checking up on tenants and more about keeping your property in good condition.

Neglecting legal obligations
From the right safety checks to the correct level of insurance, there is a lot to remember. Having the right tenancy agreement is also vital, and you don’t want to skim over the details of this. It’s important to define the cost of rent and what it covers to notice periods. It’s also important to maintain records of rent payments, and while some things may not be a legal requirement, they can help your case if legal disputes arise.

Incorrect pricing
When deciding how much rent to charge, it’s important to strike the right balance. You don’t want to charge too much, which could lead to your property being vacant. On the other hand, you must factor in your maintenance costs and the area where your property is located.

Not using a letting agent
A letting agent can take care of as much or as little of all these processes for you, which helps protect your investment and ensures your rights as a landlord are protected. Managing your own buy-to-let property is a time-consuming business. But more than that, you don't want to get caught out or increase your costs due to poor management.

Contact us today to find your buy-to-let property



Thinking about building your work-from-home space in your garden?

 
Building your work-from-home space in your garden is the dream of many homeowners. There are so many options and materials to choose from, and having it located on your home’s property is close enough for convenience but with enough space from the distractions of home life.

Pick the right spot
Find the best location in your garden that receives good natural light but isn't too exposed to harsh elements like wind or rain. Consider the position of the sun throughout the day to avoid glare on your computer screen. You might want to add an area where you can work outside in the summer.

Silence is golden
Try to create your garden office away from noisy distractions; on the other hand, you may want to be able to keep an eye on what the children are up to when playing in the garden. This separation will help you maintain focus and productivity while working. Soundproofing the space can be beneficial, especially if you live in a noisy neighbourhood.

You need a strong structure
Depending on your budget and needs, you can opt for a pre-built garden office, a custom-designed shed, or even a renovated summerhouse. Ensure it's well insulated for year-round use, and think about issues such as condensation. Hiring a local builder to create the perfect garden office space may be the best option.

Electricity and internet connection
Make sure you have access to electricity to power your devices. Hiring an electrician to install proper wiring is essential for safety and convenience. You don't want to spend hours and thousands on your perfect garden workspace only to find your internet coverage is patchy. Consider using a Wi-Fi extender or a wired connection if your main router is too far away.

Create the right setup
Choose a good desk, chair, and computer that support you. If you create the perfect setup, you will work more efficiently and enjoy each day. Your body will thank you for it, and it will keep you feeling less fatigued.

Make your space your own
Decorate the interior with plants, art, or other personal touches that inspire and motivate you. Make it a space you enjoy spending time in. Think about storage. Keep your workspace organised by incorporating storage options like shelves, drawers, or cabinets for your documents and supplies.

The right temperature
Consider heating for the cold winter months, maybe adding a wood burner or electric fire, and a cooling solution for when those long, hot summer days kick in. Install curtains or blinds to ensure privacy during work hours; these will also insulate you from the elements.

Add a bit of nature
From nice views of the rest of your garden to maybe an eggshell chair for relaxing in. There is so much you can add to your space to make it a place that feels pleasant to work in. From strategically placed trees, plants to flowers with your favourite scents. All of this will add to your sense of well-being while you work.

Will all of this add value to your home?
Adding a garden office space could add up to 5–10% to the value of your home.* Good work-for-home spaces are high up the rankings of what people now want from a home, and a purpose-built garden office space could be considered even more desirable.

Contact us to find your ideal home

 
Gardenofficebuidings*



Top tips on creating key selling points for your home

 
Your home’s location
Location is a key factor in determining the value of your home. So make the most of it. Whether it’s proximity to local transport links, schools, or beautiful countryside.

Kerb appeal
From flowers to fences or widows to door frames. Anything you can add to make your home look attractive at first sight will always help.

Smart technology
There is very little you can’t use smart technology for, whether it’s for entertainment, heating, or security. Make the most of it for a comfortable and modern way of living that will help you relax.

Energy-efficiency
Buyers like cost-saving and environmentally friendly features. Highlight any energy-efficient features, such as energy-rated appliances, LED lighting, smart thermostats, triple-glazed windows, or insulation upgrades.

Build a garden office
The proportion of property listings that now mention a garden office is now 11 times higher.* With so many of us working from home today, this is now high on the list of desirable features for many people.

Add bi-fold doors
By creating space while adding lots of light, you can really alter your indoor and outdoor living spaces as they seamlessly blend, allowing you to add real desirability to your home.

Open-plan living
Open-plan layouts have been on trend for the past few years. By increasing the size of your rooms by physically removing walls, your kitchen and dining area will seem so much bigger, with more light and a better feeling of space.

The kitchen
A new kitchen fitted with energy-efficient appliances is the central hub of any home. Doing this could add up to 15% to the value of your home.*

Create off-street parking
Off-street parking can add up to £50,000 to the value of your home.* So if you can create it where it did not exist before, many more home buyers will want to buy your home.

Does your home have any special features?
Whether we are talking about traditional architectural features such as an original fireplace, staircase, or stone walls, celebrate them. But do so in a respectful, neutral way that does not alienate potential buyers.

Outdoor living space
From great decking to the perfect patio, add lights, candles, an outdoor dining area, and a fire pit. Outdoor spaces, big or small, add to the value of your home and to the quality of your life.

Garden
Making the most of your garden is just as important as making the most of any room in the house. And this can not only add value to your home but also greatly increase its attractiveness to buyers.

Sell your property’s potential
Whether you have planning permission to build an extension or loft conversion, this is always worth mentioning to your agent as it could attract buyers.

Get in touch today to discuss moving to the place you really want to be

 
Zoopla*



Joining the January rush? Here are some top tips


The beginning of a new year often marks the beginning of a new life, and for many, this means moving home. Because of this, January is a significant time in the property market. So, whether you’re planning on buying, selling, or both this year, here are some top tips to help you beat the New Year rush.

For sellers

Preparation is key
Before placing your home on the market, make sure it’s in its best possible condition first. This might mean investing some time into making small repairs, staging, and decluttering to ready it for the eyes of potential buyers. A well-presented home will stand out on a busy market, so don’t forgo a little home improvement!

Set a realistic asking price
Overpricing can deter potential buyers, but under-pricing could mean you’re selling yourself short, so it’s important to strike the right balance. An expert valuation will assess all your home’s unique features, while also taking into account the local market landscape. This produces an accurate and competitive price for your home, allowing you to secure a fast and successful sale.

Show off your home’s best features
High-quality photos, virtual tours and expertly crafted descriptions are all important for showcasing your property online. In today’s digital age, a strong online presence is vital. Without social media reach, your home would not have half as much exposure to potential buyers. Make sure your chosen agent has a solid marketing strategy in place and knows how to utilise online platforms to cast a wide net. 

Choose the right agent
Partnering with a reputable and experienced agent can make all the difference. Your estate agent should be well-versed in your local market and therefore have the expertise to advertise your property effectively, negotiate on your behalf, and guide you through the entire selling process.

Be open and flexible
Selling a home requires a great deal of time and commitment. While the viewing process can be disruptive to your everyday routine, being flexible and accommodating might land you a buyer quicker.
Once you’ve secured your buyer, make sure their timings for completion align with your own, even if this means compromising slightly, as this will help speed up the process and avoid any confusion. 

For buyers
 
Get your finances in order
Before you can get started on the search for your dream home, you’ll need to make sure your finances are in order. The best way to get ahead of the curve is to obtain a mortgage agreement in principle. This will strengthen your position when making an offer, as sellers will view you as a reliable option.

Know your priorities
You should know exactly what your priorities are in terms of location, size, and any other important features. This will streamline your search and help you make informed decisions, rather than wasting any time on homes that aren’t suitable.

Act quickly but thoughtfully
The January rush can be competitive, and a home that you have your eye on may receive multiple offers similar to yours. While it’s important to act fast, you shouldn’t act merely on impulse. Take some time to thoroughly inspect the home and do your due diligence both online and in person before making an offer.

Manage your expectations
Wish lists are essential when it comes to finding your dream home, but it’s equally important to be realistic about what you can afford and what is available on the market. Be open to compromise where necessary, but don’t sacrifice any essential requirements.

Work with an agent
A skilled agent can guide you through the buying process, help you identify suitable homes, and negotiate on your behalf. Having someone who is experienced in the local market on your side is invaluable when it comes to finding a home in a busy market.

If you're ready to take the plunge into the January rush, our experienced team is here to assist you every step of the way
 



How much your low EPC rating could be costing you?


In today’s financial climate, it is as important as ever to understand where your money is being spent. One of the main sources of expenditure is energy, so it is important to fully understand your Energy Performance Certificate (EPC) rating. Let’s take a closer look at EPC ratings and what you can do to make your property more energy efficient. 
 
Understanding EPC ratings
An EPC rating is a measure of a property’s energy efficiency and can vary depending on a range of factors, including insulation, heating systems, and renewable energy usage. The main purpose of an EPC rating is to inform potential buyers or renters about a property's energy efficiency.
 
It is a legal requirement for all properties available to buy or rent in the United Kingdom to have an EPC rating. An EPC rating lasts for 10 years, and if your EPC is older than this, a new one must be issued before the property can be made available to buy or rent. EPC ratings range from A to G, with the latter suggesting a property’s energy efficiency is poor.  Common causes of a low EPC rating include poor insulation and inadequate heating systems.
 
The cost of a low EPC rating
A significant impact of a low EPC rating is higher energy bills. A property with a low level of energy efficiency will waste more energy, meaning more energy is required to heat the home, therefore resulting in higher bills.
A low EPC rating can hugely affect a property’s market value because it indicates that the home is not energy efficient. Potential buyers and renters tend to favour properties with higher EPC ratings because they are a more cost-effective solution, so a poor rating could make securing a sale at a good price more difficult.
 
How to improve your EPC rating
An energy audit can help you identify areas to improve your property's energy efficiency. A trained professional will give your property a thorough inspection, examining factors such as insulation, heating systems, and appliances. By highlighting potential areas for improvement, an audit can provide you with valuable insights into where energy-saving upgrades can be made.
 
After the energy audit has highlighted how energy efficiency could be improved, you should make the necessary changes to your property. Installing energy-saving technology such as LED lighting, smart thermostats, and energy-efficient appliances can help reduce energy waste and utility expenses. Additionally, improving your property's insulation and fixing any air leaks will enhance thermal efficiency and lessen the need for excessive heating. These energy-saving improvements will increase the market value of your property.
 
Final thoughts
Having a low EPC rating can result in higher energy bills and negatively impact the market value of your property. Improving your property’s EPC rating through energy-saving upgrades and improvements can help reduce energy waste, lower utility expenses, and increase the market value of the property.
 
Are you looking to move to a more energy-efficient home?
 



Good news for landlords thinking of converting homes into two flats

 
A great opportunity appears to be on the horizon for landlords as the government announces plans to make it easier to convert your house into two flats without planning permission. This will reduce the red tape, costs and transform the process of making your property more profitable. But the advantages don’t stop there, and they are not only confined to landlords.
 
A greater return on investment
Whether you are a landlord with an extensive property portfolio or own a home in which you see the advantages of subdividing into flats, you stand to gain. Landlords achieve a greater return on investment by being able to increase rental income and the value of their property. If you are a homeowner, you could benefit from renting one flat out and living in the other when considering downsizing. And, both parties will benefit from an increase in the value of your property assets while providing a more compact, energy-efficient place to live.
 
The process will be faster  
Currently, to undertake such a conversion, you need to seek planning permission, as converting a house into a flat is not defined as a permitted development. The government’s proposal will change this and speed up the process, as you will no longer have to delay work on your property. Listed building consent or conservation area consent may be required if necessary, and the government has stipulated that the permitted development right must not change the external appearance of the building.
 
When will these plans come into place?
The government is already in consultation about the change in 'permitted developments' legislation that will allow homes to become two flats. It is expected to be implemented towards the end of the year. The government, landlords, tenants, and homeowners are eagerly anticipating these changes, and the sooner the government brings them into force, the better, as they will have many positive benefits for all parties and the wider economy.
 
How will this affect the market?
Increasing the supply of energy-efficient and compact flats will provide more high-quality homes for tenants. Landlords will be able to achieve greater rents from the same property. With the outlook for 2024 looking promising, finding funding to convert homes into flats will be easier. The wider economy and communities will thrive as half-empty homes in need of modernization benefit from a makeover. Happy tenants in place will spend money, and the economic spinoffs will help improve many postcodes. This could help to add to the value of property in these areas while curbing spiralling rental inflation.  
 
Communicate with your agent 
Whatever your property plans are, it’s always good to keep in touch with your agent. New opportunities appear daily, sometimes hourly, in all shapes and sizes. Certain houses lend themselves well to conversion into flats. Your agent will be able to inform you when such properties are arriving on the market, connect you to a good mortgage advisor, value your existing property, and manage it if you don’t want the hassle of finding tenants or maintaining your property. It always pays to do your research; a good agent can give you a rental valuation to see how much extra rent you could achieve if you take advantage of the government’s new plans.
 
Contact us to make the most of your property’s opportunities 
 



A great time to buy and a great time to sell


 
Moving to a new home may seem like a daunting prospect, but it’s one of the most exciting things you can do. When you take into account the current market conditions and the wide range of options available to you, there are several reasons why now is the perfect time to make your dream move.
 
Property prices have stabilised
One of the main reasons that now is an excellent time to move to a new home is that property price inflation has stabilised. In the past 12 months, property prices have fallen 1.2% on average, compared to a 7.2% increase the previous year.* This demonstrates that buyer affordability has increased, allowing people to find a home they love at a reasonable price. It also gives buyers renewed confidence, as they can make more informed decisions without fear of a sudden price drop. So, while a slight decrease in prices may appear concerning at first glance, it may actually be viewed as a benefit to those looking to move to a new home.
 
There are plenty of properties available
Another reason why now is a great time to move is because there are a wide variety of properties available on the market. The annual average number of homes for sale is the highest it has been in six years, with 34% more homes available than there were in the previous year. As a result of this, the average estate agency branch now has 31 homes for sale, giving buyers a wide range of choices.* With more options at their disposal, buyers are able to carefully consider the price, location, size, and amenities of a property before making a decision. The increased competition among sellers could potentially result in more competitive pricing, allowing buyers to negotiate prices and find better properties within their budget.
 
Moving doesn’t take long
Many people are put off moving to a new home because they think it will take a long time, but this is not necessarily the case. On average, it takes just 34 days to sell a home in the UK.* This figure shows how high the demand for properties really is, which is great news for sellers, and it also means there is a reduced waiting time for buyers. The amount of time it currently takes to sell a property shows that the market is fast-paced while still remaining stable, which makes now a great time to move.
 
Moving is exciting!
Moving to a new home is an exciting and joyful experience that marks the beginning of a new chapter in your life. It is an opportunity to start over and break old routines in order to live a more varied lifestyle. Whether you’re looking to relocate for a new job opportunity, a change of scenery, or for any other reason, moving is a chance to re-invent yourself and create a new personalised space for you and your loved ones.
 
How your agent can help
An experienced estate agent's expertise makes the home-moving process much more seamless. They will guide you through the moving process and help you make an informed decision by utilising their expertise and knowledge of the local market. They will show you a wide range of available properties and tailor your search to your needs and preferences. They will also assist you in selling your home quickly for a good price, allowing you to kickstart your future in no time. 
 
Are you looking to move to the home of your dreams?
 
Zoopla*



10 questions you should ask your estate agent

 
The property market is a fast-paced and confusing world, so you’ll need a good agent on your side to help you navigate its complexities. Finding the right agent is crucial to the outcome of your sale, so to ensure that you make an informed decision, it’s important to ask all the right questions.
 
Here are 10 key questions you should ask your estate agent before committing to working with them.
 
What is their experience in the local market?
You’ll need to know how much experience your agent has in the local market, as they should be able to provide local market insights such as trends, values and any potential challenges. Don’t settle for the cheaper option, as an experienced agent is better equipped to help you navigate the intricacies of your specific area, enabling a better outcome for your sale.
 
Can they provide any client testimonials?
Reputable agents are proud of their client testimonials and references, so they will be more than happy to share them with you. Customer feedback can give you valuable insight into any business’ reputation, so don’t hesitate to ask for this information or check the customer ratings online.
 
What’s their marketing strategy?
When the market is competitive, a robust marketing strategy is what will make your home stand out to potential buyers. Make sure to enquire about the agent’s approach to marketing, including both online and offline channels, professional photography, and any unique strategies they might use to showcase your property effectively.
 
How will they determine the value of your property?
Receiving a professional valuation is one of the most important steps to selling your home, so you’ll need to know that your agent has a solid and reliable strategy. A good agent will consider a multitude of factors, such as recent sales in the area, the condition and appearance of the property, and current market demand. Using this information to paint a full and accurate picture ensures that your property is competitively priced.
 
Is your property ready to sell?
While selling ‘as-is’ is sometimes a viable option, an agent will be able to assess your home during your valuation and advise you on any necessary repairs or additions. Ask your agent whether your home is ready for the market, or if it could benefit from a spruce-up to bump up its value.
 
How will they communicate with you?
The key to any successful partnership is effective communication, so make sure to discuss your preferred mode of communication with your agent. Whether it’s emails, phone calls, or face-to-face meetings, setting your expectations early on will help to avoid any misunderstandings.
 
How long does it take to sell houses in your area?
Knowing the average time it takes to sell a home in your area will help you manage your expectations and form a realistic plan. It also gives you an idea of how efficiently your agent can sell properties in your location.
 
Do they have experience handling properties similar to yours?
Every home is unique, but some fall into specific categories which require the careful handling of an expert (e.g., period homes and luxury properties), so make sure your agent has had experience selling similar listings. This experience can be invaluable when it comes to finding the right buyer and selling for the right price.
 
How do they handle negotiations?
The skill of negotiation is a crucial one in all areas of the property market. Ask your agent about their approach to negotiations and how they plan to secure the best deal for you while also maintaining a positive relationship with potential buyers.
 
What happens if your property doesn’t sell?
Lastly, it’s important to ask your agent about what their strategy will be if your property doesn’t sell within the agreed timeframe. Whether it involves reevaluating the marketing plan or adjusting the pricing strategy, having a clear plan in place shows that your agent is prepared for any curve balls, allowing you peace of mind throughout your sales journey.
 
For more information, contact our expert team today
 



Colour schemes to chase away the January Blues


As the festive season fades away and the winter chill sets in, January can often bring a sense of gloominess. But if your New Year’s resolution is to attract a buyer, one of the best ways to inject some brightness into your living space is with a punchy, cohesive colour scheme. Ready your home for the market this year with one of these refreshing colour palettes.
 
Soothing greens
Due to its natural connotations, green creates soothing spaces that make us feel better connected to the outside world. As it sits at the centre of the colour wheel, green is a beautiful transition colour which can be paired with both warm and cool tones. If you’re looking for warmth, use touches of yellow, as two colours from the same family can work harmoniously together. For something more modern, try soft tonal shifts in green shades to create a restful yet invigorating space.
 
Daring reds
Red brings a sense of energy into a living space, making it the perfect shade for dreary January. Make a statement with a bold accent wall of maroon or carmine, or bring a muted palette to life with some intense pops of crimson using throw pillows, vases, and canvases. 
 
Dreamy sunset hues
Bring some warmth back into the home by incorporating a timeless sunset colour scheme. Offset the drama of the burnt oranges, reds, and golds with a cooling touch of blue or purple. This will have your home looking bright and sunny year-round.
 
Earthy neutrals
Embrace the natural beauty of earthy neutrals like warm taupe, soft beige and creamy white. These compatible shades create a sophisticated and calming environment, perfect for a minimalist aesthetic. To keep things dynamic, mix and match neutral tones for a classic yet versatile look.
 
Elegant jewel tones
Amp up the elegance in your home with luxurious jewel tones such as sapphire blue, deep burgundy or emerald green. These colours are rich and full of depth, so make sure to use them sparingly against neutral backgrounds to add a touch of opulence, without overwhelming the space.
 
Coastal blues
If you’re yearning for summer, bring it back into your home with tones taken straight from a sea view. Create a cool, coastal feel with refreshing shades of ocean blue, then work in a few eye-catching accents of red, yellow or purple for an element of contrast and warmth.
 
Soft pastels
Pastels are bright colours that have been diluted, making them ideal for the home. Chalky and pale colours give rise to delicate, minimal rooms. Create a relaxing and elegant space with sugary shades of rose, mint, and taupe.  


If you're considering a change of scenery, our team is here to assist you in finding the perfect property. Contact us today to explore the possibilities
 



How do the Chancellor's proposals affect your 2024 property plans?

 
Jeremy Hunt, Chancellor of the Exchequer, made several proposals in his Autumn Statement that will have an impact on the property market in 2024. Whether you're a first-time buyer looking to take your first step onto the property ladder, a homeowner looking to upgrade to a new property, or a landlord looking to expand your portfolio, the Chancellor's proposals will benefit you in some way. Let's take a look at some of the upcoming changes and how they could positively impact your 2024 property plans.
 
National Living Wage up, National Insurance rates down
One of the key announcements the Chancellor made in his autumn statement was that, from January onwards, the National Insurance rate will be cut by 2%, bringing the main rate down from 12% to 10%.* The Chancellor also announced that, from April 2024, the hourly National Living Wage will increase from £10.42 to £11.44, the largest increase seen in over ten years.** These changes will benefit buyer affordability because increased disposable income will allow people to spend more money on buying a home they love or investing in properties to expand their portfolio.
 
Mortgage Guarantee Scheme extended
The Chancellor also announced the extension of the Mortgage Guarantee Scheme until June 2025. The scheme makes it easier for first-time buyers to enter the market by allowing them to secure a mortgage with as little as a 5% deposit. It was originally scheduled to close to new applications on New Year’s Eve 2023, but an unexpected 18-month extension has ensured that first-time buyers can still realistically achieve their dream of owning a home.
 
Properties can be split into flats without planning permission
The Chancellor also announced that property owners no longer require permission to divide a property into flats as long as the exterior of the property remains the same. This should increase the number of available homes on the market, potentially increasing buyer affordability. It will also give landlords greater flexibility in adapting their properties and increasing their rental income.
 
House purchases are to be made simpler and quicker
Jeremy Hunt also announced that £3 million will be spent on implementing a range of measures that will improve the overall home-buying process.** In the hope of speeding things up, experimental projects will be implemented that will digitise property data held by local councils and create property tech solutions. These new projects should hopefully make the buying and selling process much quicker and easier.
 
Final thoughts
Overall, the Chancellor’s Autumn Statement contained plenty of positives for people looking to buy properties in 2024. Buyer affordability is set to improve as a result of the National Living Wage increasing and National Insurance rates decreasing, especially for first-time buyers, who will benefit from the extension of the Mortgage Guarantee Scheme. Landlords will benefit from the announcement that properties can be converted into flats without planning permission, as new opportunities will present themselves. The property market should also benefit from the new pilot projects announced by the Chancellor, as the buying and selling process should become simpler.
 
With the help of a trustworthy estate agent, you can benefit from the changes to the property market to make 2024 a prosperous year for you. The expertise of an agent will give you a competitive edge in the buyer’s market, as they will be able to offer you the best assistance and advice based on the latest updates in the property market.
 
Looking for your next property?
 
GOV.UK*
The Times**



Here’s some good news to guide first-time-buyers


Interest rates are reducing, and lenders are offering increasingly competitive deals, especially to those with good deposits. Both ready-to-move-in homes and homes in need of modernisation are available for you to take your first steps. But even if you don’t have a large deposit, you can still make your first move.
 
Mortgage Guarantee Scheme is extended   
This is great news for those with a 5% deposit. The government-backed Mortgage Guarantee Scheme, which was due to end in December 2023, has been extended until June 2025. Thousands of first-time-buyers have benefited from this scheme, which was introduced in April 2021. If your budget allows, homes with a value of up to £600,000 can benefit from the scheme.

Less competition and lower interest rates 
Higher interest rates have meant some people hoping to get on the property ladder have been priced out of the market. This is good news for you, as you have fewer buyers to compete with, and the bigger your deposit, the smaller your interest mortgage rate will be. Though the first-time buyer market has been outperforming other sectors, a little less competition means house price inflation has reduced. A sure way to get ahead of the competition is by keeping up good communication with your local agent, who will contact you immediately when a suitable home becomes available.
 
Exiting landlords 
With some landlords retiring and others being scared away by imminent legislative changes, more first-time buyer-type homes are entering the market. If you are looking for a flat, apartment, or two-bed terraced home, you may find certain locations offer a little more choice. That said, properties of this type are in high demand, so it pays to be organised. Have your deposit ready and get an agreement in principle from your mortgage adviser so you can get a viewing quickly.

Homeowners ascending the ladder
As homeowners of first-time buyer-type properties put their homes on the market to move to second-stepper homes, you will benefit from increased choice. Lowering interest rates and better deals with an increasing range of mortgage products mean the market is moving again. The beginning of the year is also a time when people begin their search for a new home with a renewed sense of vigour. Some home movers will choose to put their homes on the market, hoping to be chain-free buyers when it’s time to make an offer. This is another advantage of being a first-time buyer: you are chain-free and often the preferred choice of sellers.

 
Trust your agent
Knowing where good starter homes are located, which locations are the best places to buy, and simply finding your potential property makes hunting for a home with your agent the way to go. You could spend hours searching property portals and miss out on what’s under your nose and already listed with your local agent. They are also aware of any properties coming onto the market. If this is your first property purchase, their knowledge and support offer a lot of comfort and reassurance by happily answering the hundreds of questions that will play on your mind. And if you need to source a good mortgage adviser, conveyancer, or other property-related professionals, they will gladly connect you to the right people.
 
 
Get in touch today to see how we can help you take your first steps to home ownership
 



How does using a good agent help avoid gazumping and gazundering?


Gazumping and gazundering are not always carried out intentionally to save money. Sometimes buyers and sellers experience challenges while they are between homes, and a good agent can help you overcome them. 

What is gazumping?
You are elated that your offer on the home you have chosen has been accepted. A few days before completion, the person selling their property accepts an offer from another buyer. Although you may feel furious and a little heartbroken, this is perfectly legal.
 
How can you avoid gazumping?

Get organised 
Don’t delay or waste any time. If you are organised, then you can move quickly. So, communicate with your agent and start the paperwork process as soon as possible.

Sort your mortgage
Working with a good agent helps speed things up, but if you don’t have your mortgage agreement in principle in place, delaying gives your seller more time to consider offers.

Choose your conveyancer or solicitor wisely
You don’t want a slow solicitor or conveyancer. Call them regularly for updates until they get the job done. Your agent could recommend a reputable firm for you.

Negotiate the removal of the property from the market
When making an offer as part of the deal, ask your agent if the seller is willing to remove their property from the market.

A lock-out agreement 
You may be able to draw up a contract that will set out a given period of time in which the buyer has exclusive rights to buy the property.

Gazump your gazumper  
If you really love the property and are determined to buy it, and your finances allow it, you could simply make a higher counter-offer; a small increase can make a big difference.
 
What is gazundering?
The boot is on the other foot in this case, as a buyer of a property lowers their offer, usually at the last minute. Like gazumping, this is perfectly legal until the exchange of contracts.
 
How can you avoid gazundering?
 
Set a date for the exchange of contracts
This is like setting deadlines for solicitors or conveyancers, the buyer, and the seller to work to. This will keep momentum going and reduce the risk of a buyer reducing their offer.
 
Pricing is critical 
Understanding the property market is important. Your agent’s skill and experience in pricing accurately are crucial in valuing your property accurately.
 
Valuing your home 
Good agents conduct face-to-face valuations and will find the right value for your home, and this will help prevent gazundering and gazumping in the first place.
 
Avoid leaving surprises
Hiding issues that may affect the value of your home, which will inevitably be discovered during a survey could encourage gazundering.
 
Consider chain-free buyers 
There is no guarantee that this will prevent getting gazundered, but a chain-free buyer will move more quickly than a buyer in a chain.

Be prepared 
The golden rule when moving home is to be organised. Anything that could delay your move, from paperwork, mortgages, and poor communication to choosing the wrong agent.
 
A good agent is crucial 
An experienced agent could prevent and will certainly minimise the risk of either of these scenarios happening by matching the right buyers with the right homes. But even if these situations do arise, a discerning agent will help manage your situation so that your moving dreams do not become thwarted. Agents do not just sell properties but also represent your best interests and position in the market. They can improve your ability to buy or sell by always presenting you in the best possible light so that your home move is a success.
 
Get in touch today for a successful and smooth home move 
 



How to increase rent the right way?

 
As a landlord, it is important to understand how to increase rent in a fair and reasonable manner. While maximising return on investment may be appealing, you should assess the impact on your tenants and ensure that any rent increases are justified. This guide will help you increase rent the right way while maintaining a positive relationship with tenants.
 
What are the rules surrounding rent increases?
Although landlords are generally allowed to increase rent, there are rules and regulations that must be followed. Rents cannot be raised during a fixed-term tenancy unless there is a clause in the agreement that states a pre-agreed increase. Rents can be raised once a year in a periodic tenancy, as long as the tenant is provided with sufficient notice. 
 
How can landlords increase rent?
Here are the four most common ways landlords can raise rent:
 
Signing a new tenancy agreement
The most common way of increasing rent is by signing a new tenancy agreement with altered rates. This is the most straightforward way of increasing rent because there are fewer regulations to follow, and landlords are free to adjust prices to reflect market value and cover additional costs.
 
Activating the fixed-term increase
If a fixed-term agreement contains a clause allowing the landlord to increase rent at a certain point during the tenancy, a written notice must be issued stating when the increase will take effect. The notice period should ideally be at least two months, and both parties must sign a rent increase agreement.
 
Reaching a mutual agreement
Landlords can contact tenants to discuss potential rent increases. When taking this approach, it is crucial to be honest about the reasons for proposing a rent increase while also considering the impact on the tenant. If a deal is reached, a rent increase agreement must be signed to make it official.
 
Serving a Section 13 notice
If a landlord cannot reach an agreement with a tenant, they may choose to serve a Section 13 notice. This is a more formal method of increasing rent and can only be served in a short-term periodic tenancy. The landlord must fill out ‘form 4’ and serve it to the tenant, who may then accept or challenge the rent increase. If a tenant challenges a rent increase, it will be referred to the first-tier tribunal, which will consider the arguments presented by both parties before deciding whether or not the rent increase is fair.

How much can landlords increase rent by?
There is no specific limit on how much landlords can raise rent. However, the government stipulates that any increases must be fair and realistic based on the local market. A rental charge that significantly exceeds the local average rent of similar properties would not be seen as fair or realistic.
 
How can an estate agent help?
Estate agents play an important role in assisting landlords with increasing rent in a fair and reasonable manner. They research the rental market on behalf of landlords and recommend an appropriate rate to charge, as well as assisting in negotiating with tenants to achieve the best results for both parties while maintaining a positive relationship.
 
Final thoughts
To ensure a stress-free and profitable tenancy, landlords must strike a balance between increasing rental income and maintaining positive relationships with tenants. After all, losing a reliable tenant because of an unreasonable rent increase could cost you more money than it’s worth. Rules and regulations differ depending on the type of tenancy and the method of proposing a rent increase, so it is important to keep up to date with the latest legislation with the help of a trustworthy estate agent. 
 
Looking to maximise your return on investment as a landlord?




Why is the Scottish property market outperforming the rest of the UK?

 

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.

Contact us today for a serene move without stress

Rightmove*



Why is moving home easier in 2024?

 

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.

Contact us for a stress-free and happier home move

Zoopla*



Try before you buy: Why renting could be a good first step


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




3 positive things landlords should be aware of in 2024

 

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.

 

Contact us today to expand your property portfolio

Rent Service Scotland*
Zoopla**
National Student Accommodation Strategy 2023***
Scottish Housing Market Review ****



How to keep your property safe this summer

 

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.

 

Contact us today for more information on how to protect your property



How to prepare your property for the rental market

 

As a landlord, preparing your home for the rental market is crucial to attracting tenants and maximising your rental income. From inspections and maintenance to legal compliance and insurance, let’s take a look at how you can make sure your property is ready for a new tenancy.

Inspect the property

Firstly, you should inspect your property and take note of any areas that require attention or repairs. By taking care of these issues in good time, you can present a well-maintained property to potential tenants, increasing the likelihood of securing tenants. This will also reduce the chances of maintenance issues further down the line, which will reduce your expenses throughout the tenancy period. 

Present the property

Presenting your property well significantly increases its attractiveness to potential tenants, as it showcases your commitment to providing a comfortable and well-maintained living space. You should begin by cleaning and decluttering the space to create a welcoming environment, before staging the property with attractive décor to highlight its full potential. Make sure to capture high-quality photographs to showcase its best angles and features in rental listings.

Decide between furnished and unfurnished

Deciding between offering a furnished or unfurnished rental property is a crucial consideration when preparing it for the market. Furnished rentals appeal to tenants seeking convenience and immediate occupancy, as they come equipped with essential furniture and amenities. This option can command higher rental rates and attract short-term tenants, such as students and young professionals.

On the other hand, unfurnished rentals provide tenants with the flexibility to personalise the space according to their needs and preferences. These properties tend to appeal to long-term tenants looking for a more permanent living situation and often cost landlords less time and money. Ultimately, the decision depends on factors such as your target market, the property’s location, and local market conditions.

Prepare an inventory

Preparing an inventory is crucial as it reduces the likelihood of disputes arising over damages or missing items during a tenancy. You should document every item included in the property, from fixtures and fittings to appliances and decorations. It’s important to take detailed notes and photographs that accurately show the condition of the property. This will not only protect your investment but also provide peace of mind and establish clear expectations and understanding between you and your tenant.

Make sure you’re fully covered

You should ensure you have adequate landlord insurance coverage to protect your investment against potential risks. Landlord insurance typically provides coverage for property damage, liability protection, loss of rental income, and legal expenses. Without the appropriate insurance coverage, you could face significant financial loss in the event of accidents, property damage, or tenant-related issues.

Adhere to safety regulations

Adhering to safety regulations is paramount when preparing a property for the rental market, as it not only ensures the well-being of tenants but also protects you from potential liabilities. By meticulously following safety guidelines and regulations, such as installing smoke detectors, carbon monoxide detectors, and fire extinguishers, you can demonstrate your commitment to providing a secure living environment.

Use a letting agent

Using a letting agent to prepare your property for the rental market can significantly streamline the process and enhance your return on investment. Letting agents possess extensive knowledge of the local rental market, allowing them to advise you on setting an optimal rental price and attracting suitable tenants. 

They handle tasks such as marketing, tenant screening, property viewings, and tenancy agreement drafting, saving you valuable time and effort. Letting agents also have access to professional networks and resources, enabling them to efficiently address any maintenance or repair needs and ensure that your property complies with legal requirements.

By entrusting the preparation of your property to a letting agent, you can benefit from their expertise and industry insights, ultimately maximising your rental income while minimising potential issues and risks.

 

Looking to expand your property portfolio? Contact us today

 



Insurance 101 for landlords and tenants

 

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.

 
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Rental prices have increased - how this benefits landlords

 

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.


Looking to increase your rental income? Contact us today

 

Zoopla*

 



Your guide to Rent Guarantee

 

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. 

Contact us for more letting advice

 

 



How much of my income should I spend on rent?

 

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.

 

Get in touch today and rent right, through us

 

Propertyeye*
 



How is the service that estate agents provide improving in 2024?

 

 

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. 

 


Get in touch with our dedicated team today





Giving your garden a makeover? Here’s some inspiration

 

 

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.

 


Browse our properties to find your perfect garden this summer 



Looking for your perfect home? Here’s some top tips

 
Even perfection can be improved and perhaps it is this that makes you want to move. What was once your ideal home has now become too small, lacking the location you truly love or maybe you just fancy a change for the better.

A word about the market

The good news is that moving conditions are favourable right now, which is why lots of homeowners are getting on the move. According to Rightmove, sales agreed were 13%* higher than the same time last year. Average house prices increased by 1.5% reflecting an 8%* increase in buyer demand compared to last year. With mortgages becoming cheaper, reasonable pricing, and strong equity levels, buying conditions are not imperfect. All of this puts you closer to finding your perfect property.

Is the price right?

For most people, price is one of the biggest determining factors when buying. Combining favourable market conditions with strong levels of equity and homes priced at reasonable levels makes moving now very tempting. House prices are set at more normal levels thanks to the slowdown in the market last year. But this is a good thing because you will get more house for your money while having a great deposit for your perfect home, thanks to all that equity you have gained.

Consider the location carefully

You may already have your heart set on a specific location. The reasons you love it may vary, from the picturesque landscape to being close to family, work or transport links. But it’s important to keep a sense of adventure while searching for your perfect property. For example, being close to cycle paths or rivers and mountains may encourage hobbies you have previously put off pursuing. This is why moving is exciting and can change your life. In this sense, your perfect property can discover you. Looking in new locations can offer many pleasant surprises.

Keep your mind open to potential

Even if you watch all the home improvement programmes or are a well-seasoned property developer, it always pays to consider new ideas. That may involve stepping outside your comfort zone and trying a new buying approach. That could mean moving into a property that does not need a lot of work. Perhaps you want to make your home your own with the little details, or by investing in art, and opulent interiors. Maybe you are planning ahead and want to create a greener, more efficient home.

The importance of viewings

You may get a good feeling from your perfect property from the first kerb view image you see of it. On the other hand, appearances can be deceptive. Some properties can be misleading, like the two-bedroom terraced house with a hugely spacious and stunning garden. You never really know how you truly feel about a property until you step inside. Finding your ‘perfect’ home may involve multiple viewings, and making an inspired choice sometimes involves the input of loved ones and even a good agent.

Get a good agent on your side

Agents are not just there to make a commission, so use them as much as you can. Most pride themselves on providing a service that guides you in every aspect of your move. In many ways, agents are matchmakers, and sometimes a fresh perspective can give you real insights into what you are looking for. Use agents' market knowledge, contacts, experience, and input as much as you can. Ultimately, it’s your decision, but people who are ears deep in the property market year-round can make a massive difference in finding your perfect property.

 
Contact us, and we'll arrange for you to find your perfect property.



Rightmove*



Renovation tips for landlords

 
When you’re a landlord, it can become difficult to make your property stand out in the rental market. This can be achieved by performing unique renovations that will attract more tenants. When considering renovations and improvements, you need to identify your target market. You don’t want to overspend on a renovation project and then rent it out to students. Understanding your costs and return on investment on your property is an important factor.

Plan your renovation ahead

Planning your renovations ahead of time is a crucial element to the entire process, as this allows you to anticipate and prepare for how long your property will stand empty. This will also enable you to determine whether the traders can work in your preferred timeframe, preventing your property from becoming unoccupied longer than expected. Planning ahead allows you to get your property back on the market quicker.

Short-term or long-term?

The first factor that needs to be identified is what type of rental your property will become after the renovation. If you’re a short-term holiday renter, you are more likely to make the property super attractive, colourful, and well-furnished quickly. If you are long-term letting your property, you are likely to achieve more durable, long-lasting renovations, reducing maintenance throughout the long-term letting. Identifying this ahead of time allows you to get your property back on the market quicker.

Check your insurance and warranties

When making certain renovations to your property, it is crucial to check if your home insurance policy covers you while making these changes. Major renovations are typically not covered by most regular insurance policies, so we suggest purchasing a separate policy. When purchasing certain items for your renovation, you will sometimes be offered extra warranties to add on. As a landlord, extended warranties are an excellent idea, as they allow you to have extra coverage in the future. By having different types of tenants, you can’t always guarantee your property will be cared for at the same standard as yourself, so it’s always recommended to have extra protection on purchases.

Kitchens and bathrooms

When planning a property renovation, the kitchen and bathrooms are the two primary rooms where the house can significantly increase in value. They can potentially increase the value of your home by as much as 10%.* This is because they are durable and costly renovations, giving the property a more modern appearance.

Decorating

When decorating a rental property, it is more common to use darker neutral tones. White and cream create a clean appearance but are not long-lasting and realistic colours to maintain. Having darker neutral tones allows the walls to appear newly decorated for longer, disguising scratches and damage a lot easier in the future. When decorating your rental property, we recommend always buying extra paint for the future, as this allows you to make small fixes within your property while maintaining the same colour.

Preventing property maintenance

When renovating, it is a smart idea to think ahead to see what precautions you can take to prevent property problems in the future. One of those would be checking that your property has no underlying damp and installing measures for mould growth prevention. Using laminated flooring and tiles in most rooms is a great way to make easy, cleanable surfaces and reducing carpet cleaning costs in the future. If you address underlying property problems when renovating, you will have a reduction in overall maintenance and problems in the future.

Keep your receipts

Keeping all your receipts when renovating your property allows you to claim back tax. This is because you are a landlord, and this is your business, so you are able to claim the tax back. This will make a difference in your costs, so even if it is the smallest receipt, it is key to keep it.

 
Contact us today if you need help understanding the rental market

 

loveproperty*



Sales agreed and buyer demand spring forward in time for summer

 
The spring 2024 market is running serenely and more smoothly than this time last year, thanks to a more stable market. So, if you decide to move, the question has to be asked; Could it be your easiest move ever?

Homemovers are moving the market forwards
 
This time of year is always busy and 2024 is not disappointing. In fact, the UK property market is moving forward at a better pace than many anticipated. It’s a case of the more, the merrier. When buyers find a new home for sale that they like, it’s another transaction to add to the tally and when their old home is bought by another buyer, this multiplier effect carries on right down the chain. This drives the entire market forward, bringing more buyers to your door and more choices of homes to your inbox.

The market has a lot going for it
 
You could be forgiven for missing the many opportunities that 2024 has to offer homemovers, thanks to the naysayers in the press and social media. But the facts speak for themselves: stamp duty is favourable at 0% for your first £250,000.* Mortgage rates are improving and, in a historical context, are very favourable, and equity levels are strong, yet house prices are at reasonable and affordable levels. Then there is the standard of properties themselves, which have received a lot of love and attention due to the home improvement frenzy that still continues.

Sales agreed are increasing
 
In March, sales agreed were 13% higher than the previous year.** Homes are appearing on the market well-prepared by their eager-to-move owners. Gleaning lots of tips and hints on preparing their homes for sale and benefiting from years of hard work and renovations, as well as paying off the mortgage as the value of their properties increases, means equity levels are good. It’s perfect moving weather for packing up and making a fresh start and this is also true when you are viewing properties.

Buyer demand is growing ever stronger
 
In March, buyer demand was 8% above the same time last year,** due to slowing inflation, and increasing wage levels. The UK property market is a rich and textured place. Demand is increasing on all fronts, from first-time buyers taking advantage of up to 0% stamp duty up to £425,000,* and the 5% deposit Mortgage Guarantee Scheme to cash buyers, and home movers at the higher end of the market. Each property has its own personality yet can be adapted to suit yours. From stunning eco-homes to listed properties, homes often choose their owners.

Agents are making moving easier
 
The old saying that moving home is one of the most stressful things you can do is losing some of its street credit. Moving does not have to be stressful, but it can be, if the agent you choose is not up to scratch. Good agents attract good vendors, nice properties, offer great listings and can recommend other property professionals that will make the entire process run smoothly. Sometimes it’s being prepared for the unexpected. If a sale falls through, a good agent’s database of buyers will quickly get your sale moving again.

Contact us today to see if we have the power to move you.

gov.UK*

Rightmove **



Time for your next tenancy? Here's everything you need to consider

 
When it’s time to move on, it pays to be an early bird. So, where do you start? Let’s take a look at a few tips to help you on your way.

Start your search

Finding a letting agent is a good first step. They will be able to advise you on the entire process and keep you on the right path. Finding the right property can be a swift process or may take longer than anticipated. But, when you do find the right place, you will have the option of putting down a holding deposit. This is usually one week's rent and is refundable, and will help you make your move seamless and ensure you get the property you want.

Book some viewings

Getting out and seeing potential properties is important. It’s tempting to rush this process but when you're emailed a potential property, it’s a good idea to be ready to view it. On the other hand, you may decide to clear your calendar to book multiple viewings. Some homes will surpass expectations, while others may not. Calculating potential bills can create some pleasant surprises in more energy-efficient homes, so it is worthwhile checking the energy rating of your potential property.

Moving out and moving in

Communication and planning are key to a smooth move. Setting a moving-out date for your old place and a moving-in date for your new home on the same day is important. You don’t want to leave things to chance. Pin each party down to exact dates and times, then prepare your belongings and organise removal firms or ask your friends to help. Don’t forget to update your new address for the electoral register, your bank, and the DVLA. Then, inform your energy suppliers and take meter readings of what will become your previous address, and any other parties that need to know you are moving.

Checking the inventory

You should do this whether you are moving out or moving in. Paying attention to this process will help you get your deposit returned at the end of your tenancy. Don’t be afraid to be thorough. The inventory will give details on the condition of everything, from walls and ceilings to appliances. You will want to get your entire deposit back so cleaning your old home and leaving it as you found it is important. But, it is also important to check your new property as soon as you move in.

Using an agent makes the paperwork so much easier

The beauty of using an agent is that they can take care of your deposit, reference checks, and give you a clear understanding of your tenancy agreement. You don’t need an agent to place your deposit in a deposit protection scheme; however, having someone to guide you helps make the process more straightforward. Fully managed properties benefit from 24-hour maintenance support should any issues arise. A good lettings team is always easy to get in touch with to guide you before, after, and during your tenancy to help you in any way they can.

Make your new place your own

With a good letting agent on your side, you can concentrate on enjoying your new home. Adding the little details that make a home your own makes a big difference and you may decide to decorate. If you are organised and well ahead of time you can plan your new layout and discuss any plans you have for decorating with your agent before you move in. After you have handed back the keys to your old home and got your new keys, you know because you have used an agent that the property is compliant. When all the necessary paperwork is in order, your home is decorated nicely, and you know you are supported by your agent, you can relax and make the most of your new life.
 
Are you looking for a fresh start? Contact us today



Understanding your rental yields

 
According to Zoopla, Scotland wrapped up 2023 with the best annual rental income potential out of all UK regions, averaging at 6%.* As a property investor in Scotland, you will need to identify what a desirable yield is and be able to calculate it. Let’s take a look at rental yields, what they are, and why they matter.

What is a rental yield?

The term ‘rental yield’ refers to the potential amount of money your property can make through rental income. This is often expressed as a percentage of the market value of the property. While yields can be calculated for any period, annual yields are most commonly used.

Why do rental yields matter?

When it comes to investing in property, obtaining a good return on investment (ROI) is an important objective. Before purchasing a buy-to-let property, you should work out what to charge for rent to make your investment worthwhile.

Working out your potential yields ensures that you aren’t selling yourself short or overpricing your property. For example, if your potential income falls short of your expenditure, or if you only manage to break even, something as seemingly trivial as a boiler repair could leave you out of pocket.

On the other hand, if what you’re charging in rent exceeds the market rate, you may struggle to obtain tenants.

What’s the difference between gross and net rental yield?

Gross and net rental yields might sound like complicated business terms, but the difference between the two is simple:

  • 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.

How to calculate your rental yield?
  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

MONTHLY RENTAL X12 = ANNUAL RENTAL INCOME

(Annual Rental Income/Purchase Price) x 100

= Rental Yield Percentage


If your tenants pay rent weekly, multiply the figure by 52 to get your annual rental income.

If you haven’t bought the property you’re interested in yet, use the current market value and your anticipated rental income to determine the rental yields.

What counts as a good rental yield?

There are no hard and fast rules in what constitutes a ‘good’ rental yield. But generally, if your property pulls in a gross yield of 5-6%, you can consider this a ‘good’ ROI, and anything above 7% is ‘very good’.

How to maximise your rental yield
 
Rental income can vary widely across the board, depending on external factors such as location, the wider economy, and fluctuations in demand. However, there are a few ways to ensure you’re getting the most out of your rental yield:

Adjust the rent

If your tenancy agreement allows it, you may be able to increase your rent if it’s currently less than the local market rate. On the other hand, if you’re charging higher rent than similar properties in your area, lowering it a little bit could boost tenant interest and subsequently lower your void periods.

Adjust your outgoings

You can make significant savings by simply assessing and adjusting your property’s outgoings. From remortgaging and finding a better deal to working with a letting agent who will carry out maintenance for you, identifying and cutting down on unnecessary expenses can make a huge difference in your net rental yield.

Keep on top of regulations

Legal disputes are extremely costly and detrimental to rental income, so it’s vital to keep on top of current health and safety regulations when running a rental property. Our dedicated team are experts in maintaining rental properties, ensuring full legal compliance, a great reputation for your property, and peace of mind for you.
 
Need help managing your investment? Contact our expert lettings team today

 

 
Zoopla*



Your guide to understanding Council Tax bands

 
Council tax bands are used in the United Kingdom to determine how much each household should pay in council tax. Paying your council tax bill is a legal obligation for residents in the United Kingdom, and failure to pay can result in serious consequences. Therefore, it is crucial for every homeowner and tenant to understand the calculation of council tax and the role of council tax bands. Let’s take a look at what council tax is, how it is calculated, and how to pay it.

What are council tax bands?

Council tax bands are categories used to assess the value of residential properties for the purpose of levying council tax. Each property is assigned to one of these bands, ranging from Band A (the lowest value) to Band H (the highest value). Your council tax band is determined by the market value of your property on a specific date. In England, it is based on what the value of your property was on April 1, 1991.

What is council tax used for?

Council tax revenue funds a wide range of public services and infrastructure that benefit residents in the area. Some of the key areas where council tax funds are typically allocated include:
  • Local government services
  • Education
  • Social care
  • Waste collection and recycling
  • Transportation
  • Public safety
  • Parks and leisure facilities
  • Housing services
  • Emergency services

Different council tax bands and their costs

Here are the council tax ranges for England based on your property value*:

A: Up to £40,000
B: £40,000 - £52,000
C: £52,000 - £68,000
D: £68,000 - £88,000
E: £88,000 - £120,000
F: £120,000 - £160,000
G: £160,000 - £320,000
H: More than £320,000

Factors that affect council tax bands

When assigning a property to a council tax band in the United Kingdom, several factors are taken into consideration to determine its assessed value. One of these factors is the location of a property, as those situated in areas with higher property values or better amenities may be assigned to higher bands.

The size and type of the property, including the number of bedrooms, bathrooms, and overall floor space, are also taken into consideration. Larger properties, or those with additional features, such as garages or outbuildings, may be assigned to higher bands.

Additionally, the age and condition of the property can influence its assessed value. Older properties or those in need of significant repairs are typically assigned to lower bands, while newer or well-maintained properties may be assigned to higher bands. Any alterations or improvements made to the property since the valuation date may impact its assessed value and council tax band. Whether the property is used residentially or commercially may also increase its tax band.

Council tax for newer properties

Council tax on newer properties in the United Kingdom is calculated in a manner similar to that of older properties, but with some differences in the assessment process. For newer properties, the valuation date used to determine the council tax band is typically the date of completion. In some cases, comparable properties in the area may be considered to establish an appropriate valuation.

The quality of construction materials and finishes used in newer properties may contribute to their higher assessed value compared to older properties. Features such as high-quality fixtures, fittings, and construction techniques can impact the property's valuation. Properties built by reputable developers known for constructing high-quality homes in desirable locations may command higher market values, affecting their council tax bands.

Paying your council tax bill

Most people pay their council tax in 10 instalments over a 12-month period; however you can pay in fewer instalments or even in one annual lump sum if you wish. There are several ways to pay your council tax, including via direct debit, online payment, or telephone payment. If you prefer to pay by post, you can send a cheque payable to your local council along with the payment slip from your council tax bill. However you pay, make sure you allow enough time for the payment to reach the council before the due date.

There are severe consequences for failing to pay your council tax bill. Your local council may impose additional charges or penalties for late payment, and these charges can accumulate over time, increasing the amount you owe. If you continue to refuse or neglect to pay your council tax, the council may eventually apply for a committal warrant, leading to imprisonment in extreme cases.

If you are struggling to pay your council tax bill, you should openly communicate this with your local council. They may be able to offer support or assistance, such as setting up a payment plan based on your financial circumstances.
 
Looking for a new home? Contact our expert team of agents today

 

GOV.UK*

 

 



5 reasons why you can’t guess your home’s value

 

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.

 

1.Your local market is separate from the wider market

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.

3.You could sell yourself short

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. 

4.You may not fully understand your true borrowing capacity

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.

5.Your home is unique

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. 

 

Don’t wonder about your home’s worth - book a professional face-to-face valuation

 



20% more homes for sale than last year

 

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.

 

Contact us today for help taking advantage of the market’s favourable conditions

 
Zoopla*

GFK**



How to help your children buy a home

 

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

Gifted deposits

If you have the means to gift your child enough money for a deposit, this is the easiest way to help them onto the property ladder. Many mortgage lenders will allow gifted deposits from family members, but you will need to provide a Gifted Deposit Letter and supporting documents confirming the following:

  • 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.

It’s important to note that this lump sum is officially a gifted deposit, therefore you will not have any stake in the home, and it is not a loan.

Tax implications

There won’t be any immediate tax to be paid by you or your child if you opt for a gifted deposit. However, a bill could be due further down the line. In the UK, every individual is allowed to give away up to £3,000 a year with no inheritance tax charge. Your unused allowance can be carried over from the previous year, meaning that two parents could potentially gift their child up to £12,000 without having to pay inheritance tax. Any more than this, and you will likely be liable for inheritance tax.

Guarantor mortgages

This type of mortgage allows you to act as a guarantor for your child by putting up savings or your property as security. If you decide to use savings, you can earn interest on them but they will technically be off-limits for a fixed period or until the amount owed falls below a certain threshold. 

Acting as a guarantor can help your child secure a mortgage, but the risks are significant and shouldn’t be overlooked. If the borrower cannot keep up with their mortgage payments and the home is to be repossessed, you could lose some or all of your savings. If you used your home as security, then you too could lose your home in the worst-case scenario.

Family offset mortgages

Family offset mortgages link the borrower's mortgage deal to a family member’s savings account, resulting in reduced interest rates for the borrower. While this is a great option if you are in a good financial position, you will not earn interest on your savings once linked to a family offset mortgage. Plus, if you wish to withdraw some of the cash in your savings, the borrower’s mortgage payments will increase as a result. 

Joint Borrower, Sole Proprietor mortgages

In a JBSP mortgage, you can join as a borrower along with your child. This means that your income and credit history are considered when determining mortgage eligibility and affordability. This can be particularly helpful if your child's income alone is not sufficient for the desired mortgage amount.

While your child will be the sole owner of the property, all parties are equally responsible for repaying the mortgage. Defaulting on payments can have serious consequences for both the child's and the parent's credit scores and financial stability.

Joint mortgages

As a joint mortgage holder, you'll be equally responsible for repaying the loan along with your child. This means you need to be confident in your collective ability to meet the mortgage payments.

Decide how the mortgage repayments will be handled. Will you and your child split the payments evenly, or will one party be responsible for a larger share? Having clear communication and a written agreement can prevent misunderstandings later.

 

For more advice, contact the dedicated team at [AGENT NAME]

 

 

 



'Mind the gap' with your helpful agent

 

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.

 

Get in touch to get moving this summer

 

Zoopla*
hometrack**

 

 



Your hidden mortgage approval checklist

 

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!

 

Get in contact with us today to view the best properties on the market

 

 

 



The UK property market is getting hotter - Why?

 

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. 

 

Browse our properties to find your hot property today

 

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

 

 



Different types of mortgages available to you

 

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.

 

Looking to buy a new home this summer? Contact us today

 

 

 



Scottish landlords: What does an EPC rating mean to you?

 

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.

 

Contact us for more information on letting your property

 

Gov.scot*
Yateshellier**

 

 



The past, present, and future of Stamp Duty

 

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.

 

Ready to make your move on the property market? Contact us today for more information
 

The past of Stamp Duty

TheStandard*

StampDutyRates*

Napb*

The present of Stamp Duty

GovUK*

The future of Stamp Duty

TheNegotiator*

LimeProperty*

 

 



Equity release: Is it right for you?

 

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.

 

Contact us today to explore your property options

 
 

 

 

 



Speeding up your home sale: Here’s some top tips

 
 

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.

 

Book a valuation today with your local property experts



Inclusive vs. non-inclusive rent agreements


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.

 

If you’re still unsure about the UK letting market and need support, contact us today for more information.



Finding the right home for winter

 

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.

 

Contact us to find your next home for all seasons



Are your children ready for the big move?


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.

 

Contact us today to discover how we could help you with your move

Zoopla*



How can I save money on energy bills?


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.

 

Curious about the value of your home? Book a valuation with our expert team today

Energy saving trust*

 



The advantages of making an autumnal move


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.

Book a valuation to discover your moving options
 
Rightmove July*



Higher rental yields despite higher interest rates for landlords 

 

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.

 

Are you interested in viewing some potential property investment opportunities? Contact us

Rightmove July 2024*
Zoopla April 2024**
Fleet Mortgages***



5 ways to minimise void periods


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.

 

Need help managing your investment? Contact our dedicated lettings
team today



Fight off darker days with these autumnal decorating tips

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.

 

Are you fighting the temptation to move to a better property?



Lost your home’s deeds? Here’s what to do


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.

 

Looking for your perfect property and lost your way? Contact us to see how we can help



Top tips for getting your full deposit back

 

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.

 

Contact us today to find out about our exceptional rental services



6 minor things that reduce the value of your home

 

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.

 

For more advice and guidance, contact our expert team today



Do I need an EPC rating?


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:

  • Renovations – If you have made significant energy efficiency improvements to your home, such as double glazing, installing a new boiler, or insulation, a new EPC could reflect these changes and provide a better rating.
  • Marketing to buyers – If potential buyers express concern about the current EPC rating, an updated assessment might help reassure them of the property’s efficiency.
  • Standing out in a busy market – In a competitive market, having an up-to-date EPC with a good rating can make your property stand out from the rest.

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.

 

Thinking about selling? Book a valuation with our expert team today



A guide to kerbing rental costs


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.

 

If you are looking for the right property, you have found the right agent, so
contact us today
 



How to find the right agent


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.

 

Curious about the value of your home? Book a valuation with our expert team today



Asking prices drop by 0.4%

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.

 

Contact us today to begin your dream move

Rightmove House Price Index*
Zoopla House Price Index**



Everything you need to know about FENSA Certificates


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.

 

Looking to sell your home? Book a valuation today



The benefits of investing in a property with a sitting tenant


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.

 

Contact us today to find out more about our lettings managed services



Everything landlords need to know about fire door responsibilities


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.
Additionally, fire doors must be clearly labelled with appropriate signage indicating that they are fire doors. Signs such as ‘Fire Door – Keep Shut’ should be placed on both sides of the door. This is particularly important in communal areas, where tenants or visitors may not be aware of the door’s importance.

 

Need help managing your buy-to-let property? Contact our dedicated team today



A guide on joint tenancy


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.

 

Is a joint tenancy the right way for you? Contact us for more information.



How to prevent winter damp


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.

How we can help

Our agents play a crucial role in preventing winter damp by acting as an intermediary between landlords and tenants. We can conduct regular property inspections to identify any early signs of damp and ensure that maintenance issues are promptly addressed. Our letting agents can also advise on best practices for managing condensation and humidity within the property, offering guidance to both landlords and tenants on how to prevent damp.

For more advice, contact our expert lettings team today



Our top tips for first-time tenants


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.

 

Ready to begin your rental journey? Contact us today for more information