Lane & Bennetts are pleased to offer this quite delightful original early garden city cottage

 

Improving your buying power has never been more important. With the increase in the cost-of-living, fluctuating interest rates, and high inflation, you need to pay attention to the details that can counteract these current challenges. A new home could be more affordable than you realise. With that in mind, here are a few things you can do that may put you in a much better position to buy the home you desire.

Pay your bills on time
Reduce any debts, from credit cards to monthly insurance payments to car loans, if you can. Late payments can reduce your credit score, so ensure you don’t miss any payments.

Build up your credit

 It’s important to use your credit card or have some borrowing history because this shows your potential mortgage provider that you have the ability to pay back debts.

Access your credit report

Keep an eye on your report, checking details such as your address history, payment history, settled accounts, and whether you are on the electoral register. Any errors should be corrected immediately, as they could affect your ability to borrow.

Reduce your debt-to-income ratio
Lenders closely examine your monthly outgoings in comparison to your earnings. So, if possible, pay off any existing debts and do not take out any more new loans. It’s equally important to be disciplined and monitor your spending.

Get in touch with a good mortgage advisor
Good estate agents will put you in touch with a good mortgage advisor. There are many options when it comes to mortgages today that help counteract the effects of high interest rates.

Porting your mortgage

This means if you are an existing homeowner, you could move home without needing a new mortgage. If you are currently paying a more favourable interest rate, then this could save you significantly in costs.

Longer mortgage terms

Lenders are now offering much longer-term mortgages, which means you will pay more interest overall, and also it will reduce your monthly payments.

Interest only

Instead of paying a capital and interest mortgage, you could opt to buy the home you want with an interest-only mortgage, which costs far less per month. Then, in a few years, if you decide to remortgage, you could change your mortgage product.

Increase the size of your deposit
It’s a bit cheeky, but there is always the bank of mum and dad to help increase the size of your deposit. This reduces the amount you need to borrow, but it’s also often one of the biggest hurdles to getting your first or even second home. Create a savings plan and stick to it. You can save money by being savvy with food shopping and socialising at home.

Earn more money
It may be worth considering taking on a second job or negotiating a pay raise. The more you earn, the better. It’s important to be realistic; don’t overdo it. Your earnings have to be sustainable, and your well-being comes first.

Be resilient and resourceful
Don’t give up. Keep searching for the home you want. There is plenty of room for negotiation right now. Sometimes you have to be patient. Your agent will have a deep understanding of your local property market and can put you in touch with a good mortgage advisor.. Sometimes they will be aware of properties about to arrive on the market before they are advertised.

Talk to your agent
Your agent will have a deep understanding of your local property market, be able to put you in touch with a good mortgage advisor, give you the right valuation for your home, and help you find the home of your dreams in the right location by making good use of the equity in your property.

Contact us today for all your home moving needs.

 

Today, estate agents offer the best of both worlds with an online presence. This allows you to view properties and seek information on all aspects of moving. You then get the advantage of a team of experienced and dedicated agents who share your property dreams, become your go-to guides for your moving journey, and will value your home in person. Online-only estate agents have made their presence felt, but it seems most home movers still prefer a traditional agent that offers a hybrid service.

Payment in advance
Online estate agencies ask for payment in advance. There is no guarantee that you will make a successful sale. Traditional agents typically take a commission on sales completion, and naturally, this feels like a better deal. Some might argue that an online estate agent could be potentially cheaper, but if you do not achieve the true value of your property, then you have not saved money. Without expert guidance, an incorrectly priced home may not sell at all.

Less time
Conducting your own viewings is time-consuming. We all live busy lives, and there is precious little time to wait around for a potential buyer. Dealing with offers well below the asking price from strangers in the home where you've made so many happy memories can be uncomfortable . With a trained expert taking care of all of this for you, you are free to get on with your work or enjoy life as you see fit.

It’s hard work
From taking your own pictures of your property to learning aspects of the complexities of your entire moving process, life without an in-person agent can become difficult. It’s no secret that moving is stressful at the best of times. This is one of many reasons why the vast majority of homeowners still choose to buy their properties with a traditional agent. It’s better to save your energy for moving day and fully focus on the home you want to buy.

You may miss your friendly expert
Communication is key to achieving success in most aspects of life, and moving home is no exception. A friendly-faced, helpful agent who can take care of viewings, prepare your home for sale, and liaise with buyers on a daily basis will be highly motivated to sell your home and is worth every penny of their commission. When you consider the necessary checks, paperwork, and legislative requirements, it soon becomes clear that agents are invaluable to home movers.

A lack of local market knowledge
Agents are well-connected into your local property market. Having expert knowledge of the properties in your area and familiarity with its location is a huge plus. With an online agent, you're on your own. Buying a home is as much about people as it is about property. From buyers and sellers to teams of people such as mortgage advisers to your friendly agent who can manage a property portfolio or value your home.

Contact us to see how we can help with every aspect of your home-moving aspirations

 

 

 

The demand for rental homes is incredibly strong, with national average asking rents outside of London reaching a new record of £1,231 per calendar month in the second quarter of 2023.* More people are renting than ever before, so your property won’t stay vacant for long when you are in between tenants. In fact, if you use a letting agent, they likely have a list of prospective tenants ready to move in. This means that if your property is in need of redecorating, you don’t have much time.

Inspect your property
Before your tenants move out, inspect your property. Document any pressing issues with notes or photographs using your phone. Planning is crucial and will save you time. Therefore, it's always advisable to have your team prepared well in advance of your tenant's move-out date. This proactive approach ensures you won't be delayed while waiting for highly sought-after tradespeople.

Choose a neutral colour palette
Opting for a neutral colour palette doesn't have to be dull. Neutral colours tend to create a sense of light and space, making it easier for your tenants to coordinate their furniture with your property. If your property is furnished, adopting the same neutral approach is advisable, as it broadens your property's appeal.

Be practical
It might be tempting to cut costs by using budget-friendly products, selecting high-quality paint and materials ensures the longevity of your hard work. Fixtures and fittings that are of good quality will make your property more appealing and increase its desirability. This helps to attract responsible tenants who are more likely to care for their home.

Functionality
Put yourself in your tenant's shoes. Consider how you can make the property more user-friendly whether it's improving storage, enhancing the kitchen or bathroom, or adding modern, energy-efficient appliances and lighting. Sometimes, small changes can make a significant impact.

Less is more
Create space with ample lighting, bright neutral colours, and minimal clutter. A good deep cleaning and fresh paint can make your property appear spacious and modern. This allows your tenants to personalise each room. Well-presented flooring, perhaps refreshed to remove imperfections, and attractive blinds all contribute to making your property a more inviting home.

Improvements
Time is of the essence, but if you choose to make improvements, they will add to the value of your property. Focus on key areas like the kitchen and bathroom, as these have the most significant impact. Whether you decide on a total refit or simply choose to paint the tiles to give them a new lease on life, it all contributes to a happy home and more content tenants.

Don’t overlook the outdoors
Outdoor areas have become increasingly important for many people. Elevating an outdoor space can significantly boost your property's demand. Painting the decking or adding a covered, all-year weather-proof seating area is like adding another room to the house. Keep the garden simple but well-maintained to make a positive first impression and enhance the property's curb appeal.

Consider a managed letting service
A fully managed letting service handles tenant placement, deposit management, references, and, after your property's redecoration, ongoing maintenance. This helps to protect your hard work and investment in both the long and short term. Being a landlord today is demanding, and it’s becoming increasingly important to follow new legislation. A managed service frees up your time and ensures your property investment remains on track.

Interested in optimising your property investment with a managed letting service? Contact us today.

Rightmove*

 

 

 

 

 

Much of September is warm and sunny, and why wouldn’t it be? It is technically summer for most of the month. However, time passes quickly, and sometimes it is good to have a plan to get your home winter-ready sooner rather than later.

Get cosy and decorate
Painting and decorating your home will not only make it more appealing to buyers but will also cheer up its mood and add light. If you have a fire or log burner, get it serviced and cleaned. Buyers can then see themselves sitting by the fire during viewings. Bring in the warmth and cosiness of Autumn by decorating your home with soft throws, plush rugs, and warm lighting.

Insulate your home
Draughts and poor insulation can make your home feel chilly and drive up your heating costs. Inspect your doors, windows, and any other potential areas where cold air might seep in, and apply weather stripping, caulk, or insulation as needed.. Think about adding more insulation to your attic to prevent heat from escaping through the roof.

Protect your plumbing
Frozen pipes can lead to expensive damage. Insulate exposed pipes, especially in unheated areas like the garage. It’s also important to get your boiler serviced regularly and bleed your radiators. Regular servicing and checks will be so much cheaper than expensive repairs. And a well-cared-for home that is well-heated will not encourage any winter scars, which can deter buyers.

Energy performance certificate
Having a good energy rating can add value to your home. An EPC provides an indication of how much it will cost to heat your home and how much CO2 it emits. It also gives recommendations for energy-efficient power improvements and the costs and savings that they could generate. Ratings range from A to G, with A being the most efficient home and G being the least efficient.

Create a winter outdoor space
Outdoor spaces are not only desirable, but they are essentially another room in your home. Homes with good outdoor spaces are highly sought-after. Don’t let the Autumn stop you; add a fire or heater. Create some shelter with your favourite materials. Add a pergola, a winter drape, or build a winter-proof deck with a roof. Then personalise it with your favourite scented candles, herbs, flowers, or winter plants.

Winter cleaning and lighting
Decluttering, cleaning, using candles, incorporating feature lighting, and checking all your bulbs, including LED lighting for better efficiency, will create a sense of space in your home. If potential buyers see that your home is clean, spacious, and attractive, they may not hesitate when it’s time to make an offer.

Do you need the right team of agents to assist you in moving before the cold snap of winter arrives?

 

 

As a landlord, you have an awesome future ahead of you, with the demand for rented accommodation growing ever stronger. But that’s no reason to rest on your laurels. The buy-to-let market is changing, and with that come new opportunities and threats. Using a letting agent to handle the entire process is a shrewd move. They will keep you on the right side of the law and help sustain your rental income while giving you more time to enjoy life. As a landlord, you will want to know how to keep your tenants happy and optimise your investment, so here are a few features many tenants are highly interested in.

Energy efficiency
Many renters have become increasingly cost-conscious, so good energy efficiency is a high priority. Modern, clean living that is kind to the environment and has cheaper energy bills with added character is a win for all concerned. Energy-efficient homes are in high demand and can often achieve a higher rental income than less energy-efficient homes. Little things like LED light bulbs and energy-efficient appliances all add to this.

A well-presented home
Good double or triple-glazed windows trap heat while stopping it from escaping. But they also look good and help to create a nice greeting upon entering the property. If a home looks good, it will feel good, and if it’s in good order, it will attract good tenants. A nicely decorated home that is not in need of repainting or regrouting is often better cared for by its tenant, so it’s in your interest to keep your property in good shape.

A good garden
Good gardens are in high demand, and gardens with good outdoor living spaces are becoming expected. Even if you are letting a smaller property with little scope for a garden, adding a nice outdoor area will increase its desirability. This means more revenue for you and an increased level of demand. This will also encourage a good landlord-tenant relationship, allowing you to benefit from the stability that comes with that.

Your property’s location
Different tenants will have different needs, and your property’s location will have many positive points about it. Whether that’s being within walking distance of a great pub, social scene, shops, or if you have a young family, a good school. Excellent transport links also play a big role. The proximity of your property to the motorway, train station, or airport is important. Whether located near the city centre or in an idyllic country setting, your property’s location is a feature of what makes it great.

Make the most of your property
Adding smart technology to the heating system or security system will make your tenants feel secure. Perhaps a well-maintained parking space makes your property a great place to live. Many tenants also appreciate good storage space, and an open-plan design can often help create space. And where you can’t do this, add some mirrors and good lighting to increase the feeling of space.

Support with convenience
A managed property service makes the entire process of renting, for landlords and tenants, a breeze. Tenants can enjoy a swift and seamless move with everything from references to deposits taken care of. Landlords have their property maintained while being connected to experts who will ensure your property is always compliant with good, reliable tenants in place.

Get in touch today for an expert rental valuation of your property.

There is an art to everything in life, and when most people rehearse something in their heads, it usually goes perfectly. Put this in the cold, hard light of day, and things can go quite differently. When it’s time to make or accept an offer, the help of a trained expert is invaluable.

Your agent has a database of buyers and sellers
Your agent does so much more than list your property on their website and a few property portals, with maybe a picture of your home in the branch window. Armed with a database of buyers and sellers and a list of contacts longer than your arms, it means that agents complimented with their ability to market your home are best placed to meet your new buyer. And because of this, they are the best people to advise you on your asking price in the first place.

Making an offer
When it’s time to make an offer, you will most likely be wearing your negotiating hat. The market today is in a good place, helped by the huge demand for homes. It’s easy to make an offer under the asking price and miss out on the home you love. But you also do not want to pay over the odds. Estate agents are well-versed in this and will guide you. It’s worth remembering that estate agents are legally required to tell you about other offers, but not each offer amount.

Accepting an offer
It’s not unusual to receive multiple offers on your property, and this is where the experience of a good agent earns their money. Not to mention that you have found yourself in this good position thanks to the agent in the first place. Your agent will guide you along the right path, prepare your home for sale, give you tips on optimising its value, and market it to the right buyers. Then you can decide whether you want to accept an offer or not.

Market knowledge
Your agent will have years of experience in marketing and selling homes in your area. The plus points of the area and of your home are all great selling points. And equally, an agent will have a thorough eye on where you may be able to negotiate. For example, if there is a patch of dampness or something that needs updating

Are you emotionally attached?
Your estate agent will advise you on all aspects of your move. This makes you feel secure and safe before you move. And the more you feel this way instead of stressed, confused, or bemused, the better your entire moving experience will be. Whether you need help finding a better mortgage deal or are unsure of any of the steps involved, from valuing your home to finding the right buyer or your next home, it’s good to have the assistance of an agent. They also remove any need for awkward moments when a buyer makes an insulting offer to your face.

Valuing your home correctly
Getting the correct valuation for your home is vital in today’s market. Get this first step right, and you are already halfway to where you want to be. It’s very easy to overprice or underprice a property. Equally, without conducting a thorough expert valuation, your home may not reach its full value potential. A good agent will not allow your home to hide its true value from you or your buyer.

 

Even with mortgage rates being a bit higher than in recent years, though not as high as years further in the past, buying your own home can often be cheaper than renting. But there are many reasons why homeownership is incredibly desirable.

A magical homely feeling
Owning your own home is a unique feeling that can’t be substituted by anything else. It starts when you get the keys and the first time you walk through the front door, and it remains with you every time you come home. It is a feeling that creates a flow of powerful emotions, such as safety, security, relaxation, happiness, and elation.

The desire for a great garden
There are many great homes to rent in the UK, and many landlords are happy for you to take care of the garden while others will maintain the grounds for you. However, if you are a passionate gardener or one of an increasing number who adores outdoor living areas, they are easier to create when you own your own home. Truly reaching your home’s potential takes a lot of investment in time and money. You want to be as free as possible to create your perfect outdoor haven without answering to anybody else.

Something to leave your loved ones
Working hard is a way of life for most people, and even if you are not married with a young family to care for, it’s nice to have something to show for all your hard work. You stand to gain from the equity you accumulate over time, even if the idea of leaving your home to loved ones or the charity of your choice does not motivate you. So, when it’s time to retire, start a business, travel the world, or invest in other properties, you accumulate the means to do so without even thinking about it.

Security
It is a reassuring feeling to know that you are in control of your destiny. You decide where you want to move, sell up, or buy a better property. And if you do have a family to care for, you are providing a place that they can call home for as long as they need it. Moving in the middle of a school year can be difficult for younger family members if your landlord decides to retire.

Monthly outgoings
Despite the recent fluctuations in interest rates, they have remained more stable in comparison to soaring rents. And with fixed-interest-rate mortgage deals for up to five years, you can plan your financial future more easily. This allows you to calculate your household budget for everything more easily, from food shopping and holidays to your savings.

Complete creative control 
Whether you want to rebuild motorbikes in your front living room, knock all the walls down to create an open-plan grand design, or add a conservatory, you can do so without seeking permission. The chances are that you will never want to do any of these things, but there is something fulfilling about knowing that you can, if you decide to do so.

Ascending the property ladder
There is typically more scope to ascend the property ladder if you own your own home. Your first home may need modernisation. This can rapidly add to your property’s value if you carry out the work yourself. Even if you don't, as long as you do not overspend, you will be in a good position to sell up and buy a better home.

Are you in the market for a better property? Contact us today.

 

There are many factors that can have an impact on the value of a property, but one that people often overlook is whether or not it is located within a school catchment area. Let’s take a look at what school catchment areas are, how they affect property value, and how you can benefit from them.

What are school catchment areas?
School catchment areas are geographical boundaries that determine which students are eligible to attend a particular school. Children who live within the catchment area of a particular school have an increased chance of being offered a place there.

How are catchment areas calculated?
The method of measuring catchment areas differs between schools, but there are four main ways in which they are calculated:

• Straight-line catchment – A child who lives within a specified distance measured in a straight line from their home to the school will be prioritised.
  
  
• Walking distance catchment – A child who lives within a specified distance measured along safe walking paths from their home to the school will be prioritised.
  
  
• Nearest school catchment – A child is prioritised at the school nearest to them in distance.
  
  
• Priority admission catchment – A child who lives in an area that is a defined neighbour of a school will be prioritised.

How do school catchment areas impact property value?
According to GOV.uk, property prices near the 10% best-performing primary schools have an 8% higher average value than homes in the surrounding area.* Homes within catchment areas of the 10% best-performing non-selective secondary schools are also priced 6.8% higher.* This is primarily due to the high demand for properties within certain school catchment areas, as families look to give their children the best education possible.

The benefits of moving to a particular school catchment area
Whether you already have a family or you are looking to start one, moving to the catchment area of your school of choice can hugely benefit your children’s education. Not only does living in your desired catchment area greatly increase the likelihood of your child being accepted into the school, but it also results in shorter commute distances, making life much more convenient for you and your family. By moving to a home near a top-quality school with a gleaming Ofsted report, you can set your children up for life with a first-class education.

How your estate agent can help ?
Once you have carefully considered which school you would like your child to attend, it is crucial to enlist the assistance of a trusted estate agent. Using their detailed knowledge of local catchment areas, they can help you find suitable properties near the school of your choice and assist you with making an offer and negotiating the price.

Your estate agent can also help you if you’re looking to move out of a school catchment area by making sure the convenient location of your property is reflected in the price you receive for your home. They will make sure to advertise the fact that your property is in a school catchment area to attract potential buyers and maximise the amount you receive for your home.

 

Contact us today for assistance moving into or out of a school catchment area

GOV.uk*

 

The housing market has once again proven resilient despite residual uncertainty as we move into 2024. According to Zoopla*, new sales agreed ran 17% higher in November than they were at the same time in 2022, while buyer demand has climbed by 19%.* .

 

Tentative signs of growth

Confidence in the market has taken a series of hits over the past couple of years, starting from November 2022 following Kwasi Kwarteng’s Autumn ‘mini-budget’ announcement.

Today’s market has recovered nicely with an increase in the number of homes available for sale – up 25% in the last year – boosting choice and supporting sales.*

Zoopla also reported a further drop in mortgage rates, with some incredibly competitive rates for borrowers with a 60% LTV*. This is set to strengthen affordability and boost buyer demand in the coming months.

With the help of a trusted letting agent’s skills and knowledge, you can diversify your portfolio and experiment with different projects to see what works best for you.

 

How to time your move

While conditions are improving, the housing market is in a constant state of fluctuation; so, timing is everything. By considering seasonal nuances, market trends, and personal schedules, you can make an informed decision for your move.

Seasonal considerations

Each season will have its renowned pros and cons for moving. There is a lot of misinformation online about seasonal market dynamics, so it’s important to speak with a local agent who can provide you with accurate and localised data to help you weigh your preferences against practical factors.

Create a timeline

Moving is a step-by-step process which takes a lot of time. You can stay organised and even speed things up by developing a detailed timeline for your move. Consider when you will start packing, which dates the kids are off school, and when to hire tradespeople. This should provide you with a clear and realistic idea of what date you can get moved in by, allowing you to plan around work and any other commitments.

Should I put my house on the market before looking?

Having your home on the market while you’re looking for your next will put you in a stronger position as a buyer. When the market is competitive, some sellers may even sell their homes first and rent for a while so that they can be chain-free buyers. Your position as a homebuyer is strengthened if your home is already under offer or sold, as this shows sellers that you’re a serious buyer who can move in quickly.

 

 

 

Is your home ready for the market? Get in touch with our expert team today to find out how we can help

 

Whether you’re an experienced landlord looking for new investment opportunities or looking to take your first steps to becoming a landlord, the market is looking promising as we settle into 2024. Let’s look at how the rental market is shaping up and how you can benefit from it as a landlord.

Rental prices are on the rise
One of the main reasons you should be feeling optimistic as a landlord is that rent prices are predicted to continue rising. According to Zoopla’s rental index, average rental prices increased by 9.7% across 2023, increasing income for landlords.* It is predicted that average rent prices will increase by a further 5% this year*, further maximising return on investment for landlords, who could use this added income to expand their portfolio or make improvements to their existing properties.

Mortgage rates have decreased
More positive news for landlords is the recent announcement that mortgage rates have decreased, making property investment more affordable. These days, it’s possible to get a 5-year fixed-rate mortgage below 4%, meaning you can obtain a better deal when investing. As banks fight for business, increasingly attractive deals are becoming available.

Better deals on buy-to-let mortgages will also appear, which will help you expand your portfolio and increase your rental income. With lower interest payments, a larger proportion of your rental income can be distributed towards property maintenance and upgrades to increase the value of your existing properties and enhance the overall profitability of your portfolio. You also have the option of refinancing your existing mortgages at the new interest rates, reducing your overall borrowing costs for the entire duration of the mortgage.

There is plenty of choice
Now is an opportune time to search for new properties to invest in, as there is currently a high volume of properties on the market. On Boxing Day 2023, over 10,000 new properties were listed on the market, which is the largest number of new listings in a single day since 2011.** With an abundance of properties to choose from, you can select those that align with your investment goals, budget, and target market.

 

This high supply of properties will allow you to diversify your portfolio and spread your investments across several types of properties. For example, you may decide to buy a larger property and convert it into a Home for Multiple Occupancy (HMO), which often produces higher rental yields than regular lettings.

How an estate agent can help you
If you’re looking for properties to invest in, an experienced estate agent will conduct a thorough market analysis to understand the trends and dynamics affecting property prices in your area. This knowledge will allow you to set the right rental price, maximising your rental income while remaining competitive in the market.

Additionally, an estate agent will identify strong investment opportunities and negotiate a competitive price for any properties you may be interested in, maximising your return on investment.

 

Now could be the perfect time to get your property on the market as 2024 kicks off with more positive news. Last year, Zoopla* reported a 17% increase in new sales agreed as buyers sought to pin down new deals at the end of 2023.*

This influx in market activity appears to be rolling over into 2024, as mortgage rates continue to improve and buyers return to the market.
For sellers, house price falls are starting to slow down. This could be due to demand picking up, as some lenders are offering some very competitive deals for new borrowers at a 60% loan to value. This is great news if you’re hoping to achieve a quick sale this year.

It also appears that sellers who have waited for a more settled market can now cash in on the price gains they have been sitting on. According to Zoopla, the average UK home is now worth 18% (or £41,000) more than it was at the start of the pandemic in March 2020. * Because of this, we can expect housing supply levels to grow over the coming months as sellers make a confident return to the market.
Selling a property in a competitive market demands a thoughtful and strategic approach. Competition can be fierce during peak market periods, so you’ll need an expert on your side to help you navigate the selling process and achieve the best possible price for your home.

Understand market trends
It’s important to stay ahead of the curve by speaking with a local agent. They can identify supply and demand dynamics in your area and use this information to help set a competitive yet realistic asking price.

Price strategically
You’ll need to find the sweet spot for your property, so make sure to book an expert valuation as this will consider recent sales in the area, your property’s location, and the overall condition of your home.

Invest in effective marketing
Selling without an agent means you won’t have the same leverage online to reach the right audience. Digital marketing is a powerful tool, so you’ll need someone with an expert hand and an established network. However, traditional methods of marketing hold just as much influence, so make sure to ask your agent about their brochures, flyers, and local advertisements.

Responsive communication
When the market is busy, you need to make yourself stand out to potential buyers. Time is of the essence, so make sure to respond promptly to all inquiries and work closely with your agent by providing them with comprehensive information on your home. It will also put you in good stead to be accommodating with viewings, as you may be able to offer a booking slot which your competitor cannot.

Negotiation strategies
It’s important to have a skilled negotiator on your side who understands your property’s true value. Let your agent know if you’re willing to be flexible, as this could be the key to a successful deal.

 

Are you ready to sell your home? Get in touch with our expert team to find out how we can help

Zoopla*

 

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.

 

 

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.

 

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*

 

If you’re a landlord who is considering expanding your property portfolio, you are not alone. According to a survey from Landbay, 44% said they are looking to invest in property in the next 12 months. * This is an increase of 12% compared to the same survey conducted 12 months prior. In fact, over six out of ten landlords planning to buy said they were doing so to expand their portfolio. *

Confidence is high  

The fact that so many landlords feel confident in expanding their property portfolios is a testament to the rental market's current strength. One of the primary reasons for landlords to be confident is the strong demand for rental properties. This demand is expected to continue growing in the coming years, providing landlords with a steady stream of potential tenants. Plus, as property prices rise, property values appreciate. This gives landlords the opportunity to increase rental income and maximise their return on investment.

The benefits of expanding your portfolio

Increased cash flow

One of the main benefits of expanding your property portfolio is the potential for increased cash flow. By purchasing more buy-to-let properties, you can generate more rental income each month. You can use this income to help offset any mortgage payments and expenses associated with maintaining the properties. As you add more properties to your portfolio, your overall cash flow will continue to rise, providing you with a stable source of income.

Property appreciation  

Property appreciation is another significant benefit of expanding your portfolio because your total return on investment should increase as the value of your property rises over time. As properties become more valuable, landlords build more equity, giving them more options to reinvest in more properties or negotiate better mortgage terms.

Diversifying your investments

Growing your property portfolio also allows you to diversify your investments. By spreading your risk across multiple properties in different locations, you can protect yourself from market fluctuations and unforeseen events that may impact an individual property.

Tax benefits

Owning multiple properties can also provide you with various tax benefits. Rental income is typically taxed at a lower rate than other types of income, and you may be able to deduct expenses related to property maintenance, repairs, and mortgage interest.

Leveraging  

You may be able to use your existing properties to help buy new ones. By using the equity in your current properties as a deposit or collateral for a new loan, you can expand your portfolio without having to worry about raising additional funds upfront.

How your agent can help

Working with a knowledgeable agent can massively help you expand your property portfolio. These professionals possess a detailed understanding of local market trends, rental yields, and landlord regulations, enabling them to offer valuable insights and strategic advice. An agent can also assist you in identifying exciting investment opportunities, negotiating favourable deals, and managing your properties efficiently. With their expert guidance, you can stay informed about industry updates and grow your portfolio with confidence.

Contact us today for help expanding your property portfolio

 

Landbay*

 

 

Are you on the market for a new home? Well, when purchasing a property, you always want to be confident that the asking price matches the value. Easily identify this by commissioning a home survey on your potential property purchase.

 

What is a home survey?  

 

A home survey is where a professional property surveyor conducts an expert inspection of a property's condition. The surveyor completes these inspections to identify potential future problems and costs for the prospective buyer, and then delivers the results in a report. A home survey typically occurs after the acceptance of an offer (Scotland's property market differs). Surveyors should be members of one of the two primary accrediting bodies: the Royal Institution of Chartered Surveyors or the Residential Property Surveyors Association. Before contracting for a home survey, you should always check to see if your surveyor is a member of either of these.

How long does a home survey take?  

The amount of time a property survey takes depends on the size and condition of the property, as well as the type of survey you choose. It can take from one hour up to an entire day to complete a survey report. Normally, you will receive your property survey report 5 to 10 days after the survey's completion, allowing you to proceed in the buying process with confidence.

 

Is a home survey important?  

When purchasing a property, you tend to try and avoid extra expenses, but a home survey is an extremely important part of buying a property. Surveys allow you to understand the entire property, making you aware of future problems and costs, so you can make an informed decision to continue with the purchase or negotiate with the seller and potentially reduce the property price.

 

Which home survey should you get?
When completing a property survey, there are various types of surveys to choose from. You choose the type of survey depending on the property’s age, condition, and your personal preference.

Level 1 property survey: this is the most basic type of survey, where a traffic light system highlights issues, but the report doesn't delve into detail. This is great for a young, modern property if you want to ensure everything is up to the expected standard. Level 1 surveys start at £500.

Level 2 property survey: this is a middle-level survey that most people choose. This survey will evaluate the property’s condition and highlight problems that could affect its value. This survey will also include advice for repairs and maintenance. Level 2 surveys start at £600. Level 1 and 2 property surveys are non-intrusive, so they will only highlight surface-level issues; they will not move furniture or examine the property's structure.

Level 3 property survey: this survey, of course, is the most thorough analysis of the entire property’s building structure and condition. This survey is commonly used for older, character buildings that are over 50 years old or for properties in poor-kept conditions. The overall report will provide extensive details, including recommendations, estimated costs, and a timeline for any necessary work. Level 3 surveys start at £750.

New-build snagging survey: this type of survey is perfect for new build homes. Usually, you wouldn’t have a home survey completed on a new build, but a snagging survey can help identify small faults and cosmetic issues. You can deliver your snagging survey report to your builder, and they will resolve any issues highlighted as soon as possible. A snagging survey starts at £300.

 

Is a mortgage valuation a property survey?  

When you apply for a mortgage to purchase a property, the mortgage lender will carry out their own valuation on the property. This can sometimes be misleading and be seen as a ‘property survey’, but the mortgage lender's valuation is nowhere near as detailed, and sometimes they won’t even enter the home.
Always arrange your own survey on a potential property purchase so you can be confident that you aren’t overpaying or purchasing a new home with future problems and costs.

 

How can you find a surveyor?  

You can easily find trusted surveyors through local estate agents, your mortgage lender, or even recommendations from friends and family. Once you've identified your surveyor, it's crucial to thoroughly review the terms of engagement to understand their responsibilities and the timeline for completing the survey and report. Always make sure you have direct contact with your surveyor, so you can always ask questions if anything remains unclear.

 

Ready to sell and find your new dream home? Book a free, in-person valuation

 

Increasing your return on investment is in your interests as a landlord. Property improvements can lead to bigger capital returns, and higher rental revenue. Here are some different improvements that could do this without breaking the bank.

Get to know your target audience  

Targeting your property to young families means improving different parts of your property than that of a student let for example. Family-oriented homes will benefit from improved garden spaces and a bigger kitchen with good seating. Young professionals and students may appreciate smart home technology. It is worth noting that going down the HMO (Home in Multiple Occupancy) route for a student let, requires significant investment, however, could increase your rental revenue significantly.

Give your property real street appeal  

First impressions do last, and if your property sets the right tone from the beginning, then your tenants, future buyers, and tenants’ neighbours will appreciate it. This will maintain a good reputation for you and your property. A weed-free front lawn, painted fence, gate and front facia guarantee your tenants a nice welcome home and can increase tenant satisfaction.

Make the most of outdoor spaces  

If your property has a large or small outdoor space, make the most of it. Nice outdoor spaces are becoming expected and add a lot of value because they are highly sought-after. Comfortable seating will make a big impact and work well with low-maintenance gardens. Leaving a little room for your tenant’s creativity so they can add a homely feeling is also important. Adding French doors or slide walls as part of bigger renovations could help increase rent significantly. Conversely, if space is extremely limited, think outside the box. For example, an eggshell chair, a vertical garden, or a matching two-seater dining set can make a big difference.

Increase the energy efficiency of the property

Anything that reduces the cost of energy for your tenants will most likely increase the level of demand for your property. LED lighting, better insulation, or a more water-efficient shower head are minor improvements which can have a major impact. Better radiators can help to modernise the appearance of rooms and also increase efficiency. If you want to make bigger, greener investments, solar panels, which can sometimes produce enough electricity to sell back to the local grid, as well as supply your property, could be a worthwhile investment.

Improve the kitchen or bathroom  

Deciding which is more important largely depends on the condition of each. But improving the property’s kitchen or bathroom will make a big impression. You may decide to complete an entire refurb on both. If your property’s bathroom and kitchen need attention and there is only enough in the budget to refurbish one from scratch, don’t worry. There are lots of less costly things you can do to make improvements. From regrouting and re-caulking between tiles, to repainting, new flooring, and better lighting. These can give a new lease of life with relative ease and will make the property in question highly desirable.

Create some space  

While most people like a feeling of cosiness, especially during the winter, dinginess is much less in demand. Knocking down walls and opting for an open-plan layout can modernise your property while creating space. More light and more room could equal more rent. It’s important to budget for bigger renovations and have the correct level of paperwork from building control. That said, wall removal is not very high in the cost scale of home improvements. If your property is furnished, create space by choosing furniture and its arrangement that works best with your property’s floor plan. Sourcing furniture on social media or through a charitable organisation could potentially save you thousands.

 

Give your property portfolio a boost with a managed letting service by contacting us

 

Selling your home often causes a flurry of questions to surface in your mind. If you are moving and are selling your home with a mortgage, here is a guide to help you understand the process and some answers to the questions you may have.

Can you sell your home with a mortgage?

Yes, you can still move even if your mortgage term is not complete, or your outstanding balance is not settled. In fact, you have a number of options going forward. Unless you are in the fortunate position of no longer requiring a mortgage, your choices will depend on affordability and your mortgage provider's terms. One such option could be to port your mortgage.

Can you move home with the same mortgage?

Some mortgage providers may allow you to move with your existing mortgage. Known as porting your mortgage, this may be a way to defeat higher interest rates, although mortgage providers' terms differ. You will, in any case, have to apply to your current mortgage provider if you want to port your mortgage. You may be able to borrow more, although this could be at a different interest rate than that of your current mortgage deal.

How do you go about selling with a mortgage?

You may be planning on settling your current outstanding mortgage balance and taking out a new mortgage deal on the house you are moving to. If so, your mortgage will be settled after you sell the house you are moving from. This is where your solicitor and mortgage advisor can be worth their fees. Many agents will be able to connect you to either, but it’s entirely your choice as to whether you use their services or choose your own property professionals. Discussing your moving plans with a mortgage advisor initially will help you decide the best route to take.

Is it better to get a new mortgage when you move?

You may find that you may not be able to port your mortgage. On the other hand, if interest rates are lower than your current deal, getting a new mortgage deal could save you some money on your monthly payments. If you are moving to a much greener, more energy-efficient home, you may be eligible for a green mortgage which could offer more competitive rates. Your individual circumstances and property will differ from those of other sellers and buyers, so it is important to give accurate details to your mortgage advisor. Such information as the outstanding balance and the current interest rate of your current mortgage will be required.

A good agent is a good asset to have on your side

Many people sell their homes with mortgages. Mortgage advisors, mortgage providers, and solicitors are well-versed in this process, so there is nothing to stress about. More than likely, you will port your existing mortgage or take out a new deal. A good agent will help you make the most of this process by being there to guide you and get the right value for your home. They are also invaluable when it comes to finding a property that gives you the features and space you want, in your desired location, and that works for you financially.

 

Moving soon? Book your expert valuation now

 

 

£720,000

 

£765,000