Your James Anderson December Newsletter

10 cost-effective hacks for keeping your property warm and cosy

With much of the UK workforce now operating under lockdown again, it's estimated that we'll see a collective hike of almost £2 billion on our energy bills at home.*

Here are our top ten cost-effective hacks to keep you warm this winter:

Cover up bare flooring – wooden floors can be notoriously cold, but thinner carpets can also be chilly. The addition of a thick, cosy rug can really make a difference to the warmth of the room, whilst adding a stylish touch.

Be smart about furniture placement – similarly to adding staple pieces such as a fluffy rug to a room, other larger pieces of furniture can make a huge difference, as can their placement in your home.

Any furniture blocking a radiator should be rearranged to ensure that the heat can flow around the room more evenly, creating an overall warmer environment.

Use draft excluders – these can be particularly useful if you are renting an older property.

Place these in front of doors to keep the heat in. This will save you money on your energy bills as less heat will escape the property. They can also be matched to your current interior.

Let the sun in – on sunnier days this winter, open your curtains and let the sun warm up your home. Sunlight is not only great for naturally warming you up but also for your mental health and energy levels.

Keep the heating on low – this may sound bizarre, but having your heating on a constant low level during the day can lessen your energy bills.

This prevents the periodical off-on that will cost you more in the long run. Similarly, this will avoid pipes bursting when the temperature drops below zero.

Heavy curtains – another way to keep the heat in this winter is to hang heavy curtains or blinds near your windows, as the fabric will absorb the draft that would otherwise be coming into your property.**

Keep doors closed – once your heating or fire is on and warming up your property, ensure you keep doors closed to keep the rooms you’re using nice and cosy, rather than letting heat escape into unused sections of the house.

Be selective – any rooms that aren’t used regularly, such as guest bedrooms and bathrooms could be costing you extra money on energy bills.

To avoid this, turn the radiators in these areas down, keeping them on low to avoid the pipes freezing.

Similarly, areas such as the kitchen and bathrooms won’t need to be heated as much as your living room, so remember to take this into consideration.

Block your chimney – if you’re lucky enough to own or rent a property with a gorgeous chimney, these can be a huge culprit for making your home chilly.

To avoid this, try purchasing a low-cost chimney balloon. These can be inflated inside the chimney – out of view – and will block cold air coming in, as well as preventing heat escaping.

Bundle up – it wouldn’t be a 'keeping warm in winter hacks' piece without mentioning layering!

As clichéd and predictable as it is, wearing a jumper, dressing gown or a fluffy pair of socks is a great way to stay warm on a budget. This paired with a warm drink and a bowl of soup creates the perfect cosy evening in.

For more information or support with your property, contact our team today.

*Source: The Guardian

**Notice for tenants: if any alterations to your property are needed to make this change, please ensure you have permission from your landlord prior to doing any work.

From ‘generation rent’ to ‘generation buy’

In a recent conservative conference, Boris Johnson promised to create two million more homeowners by changing ‘generation rent’ into ‘generation buy’, in the hope that the UK can return to normal post-COVID.

Mr Johnson continued by suggesting that the current levels of home ownership among the under 40s was ‘disgraceful’.

These levels have been plummeting dramatically over recent years, which has made people “pay through the nose to rent a home which they can’t truly love or make their own”.

To do this, changes to the regulations introduced in 2008 are required.

Previous strict minimum capital requirements, which were imposed on UK banks, are being blamed for initially making owning a house unattainable for various individuals.

These individuals may have been able to afford the monthly mortgage fees associated with homeownership, but the initial upfront deposit being between 15 and 20 per cent, it’s clear to see why renting was the only option for most.

Due to this, private rent increased from 2.8 million in 2007 and to 4.5 million in 2017.

So, what’s the solution?

The Prime Minister’s ambitious plans to ‘fix our broken housing market’ begins by slashing the current deposit rates to only 5% for first-time buyers.

As a result, this will be the biggest expansion of the sales market since the 1980s.

This will be welcome news for potential first-time buyers nationwide, and a great boost for the property market post-lockdown.

To view our properties, visit our website today.

Ten tips to saving money when moving home

Whilst we're all aware of the costs associated with moving, not all of us will know the money saving solutions used by savvy sellers.

These top tips will ease the stress of moving on yourself and your wallet, leaving you with more funds for decorating your new place.

Pack smart

Keeping your possessions safe when moving is a priority for us all, but it doesn’t have to be costly.

Boxes aren’t the only option; washing baskets, bins and suitcases are all environmentally-friendly alternatives that you probably have lying around your home.

Refrain from splashing out on bubble wrap and instead save up newspaper to protect those breakable valuables.

Recruit the troops

Hiring removal experts is the most sensible idea when moving, however, it isn’t always the cheapest option.

With social distancing restrictions in place, it's also more difficult to bring in additional outside help from friends and family members.

Where possible, rely on people within your household and support bubble, with recommendations or online referrals to find the removal firm that's right for your needs and budget.

Pick your days wisely

Don’t get caught out by extortionate peak pricing for removal firm bookings.

Some companies may hike up their prices on weekends and bank holidays, so opting for a mid-week move can lower the costs significantly.

Prepare early

On your moving day, you'll already have enough stress to deal with overseeing the packing and unpacking of your property's contents, so you won't want to deal with any hidden costs that could have been avoided.

Before setting off for your new home, it's worth thinking about where you'll park when you get there, and if you'll need any permits to park all day fine-free.

Conquer the DIY fear

Whilst lockdown has encouraged many of us to dabble in DIY, it's not for everyone, which could mean DIY-shy movers end up paying premium prices for professional help that could have been accomplished with a quick YouTube tutorial.

From building flatpack furniture to fixing kitchen sinks, you'll be surprised at what you can do yourself, and how much that could save you.

Declutter as you go

Getting rid of items you no longer want or need could impact your quoted removals firm service, so bear that in mind before committing to a price, as some companies will price based on content quantity over time taken.

Refrain from a moving day takeaway

Takeaways are tempting at the best of times, so when you're unable to find your cutlery or utensils, you might find yourself reaching for the phone.

If you're on a budget and want to stick to it, plan ahead and prepare meals that can be eaten at the end of a long day.

Or if your temptations do give way, make sure you research local delivery options to avoid paying more than you anticipated.

Redirect your mail

Not changing your mailing address can become an expensive pain going back and forth fetching letters addressed to your old house.

For a small fee, you can get this changed for you.

However, if you want to save the most money, you can do this manually by contacting the companies you know send you mail regularly, for example bills and pay slips as well as any online retail shops you frequently order from.

Swap to the cheapest utility providers

Although it's advisable to search around for the best providers all-year round, it's even more important following a move.

You might find that your new area gives you access to better deals and rates, or that certain broadband providers perform slower / faster compared to your previous location.

It will also save you the hassle of setting everything up only to decide to switch after a few weeks or months.

Frugal furnishings

The goal to a successful move is to create liveable areas in your home until you've finished making it your own with home improvements and renovations.

Don’t break the bank by rushing to purchase those finishing touches, as you'll find that adding to each room over time ensures each section of the house has purpose and character.

For a second-hand find, try websites such as Freecycle or Gumtree – just make sure you're confident in what the sellers are offering before you pay them.

Contact our expert agents to find out more about a seamless moving experience, visit our website.

UK property market set to grow 4% in 2021

As we come into the new year, the housing market is forecast to continue its positive state, according to Rightmove.

House prices are set to grow an average of four per cent, despite the stamp duty holiday ending soon.

The market has seen a great increase in demand since the first lockdown, with larger houses proving to be the most popular property type, which is largely attributed to a change in routine and the rapid adoption of remote working across the country.

In July, Chancellor Rishi Sunak introduced a stamp duty holiday allowing houses purchased for under £500,000 to benefit from a tax break.

Although this scheme is due to end on March 31st, many people within the sector are calling for an extension, so that buyers and investors may continue to benefit from additional support and to speed up economic recovery.

Mortgage lender Halifax recently reported that over the last five months, the house price increase has reached its highest record since 2004.

Seasonal trends suggest that January is a popular time for buyers and sellers. This year, that demand is off the charts, with homeowners rushing to reach completion and see stamp duty savings.

Rightmove expect the market to remain resilient despite the pandemic and Brexit.

They claim that the uncertainties of COVID-19 and Brexit have been around for long enough to not deter Brits from buying and selling.

If you’re looking to buy or sell, get in touch with our local market advisors for more information on what to expect in 2021.

Market boom leads to more sales and higher prices

The average UK property price has risen by 8.6%, which is roughly £20,000 in the past year. This is the highest annual rate since 2014 according to the Office for National Statistics.

Over the year, house prices in England increased to £268,000 (up by 8.7%), in Wales to £180,000 (up by 8.4%) and in Scotland to £162,000 (up by 8%).

The North West was the region that saw the highest annual growth in average house prices (11.9%), while London recorded the lowest positive growth (4.6%).

The figures reported by HM Revenue & Customs show that sales in March this year more than doubled from March in 2020.

It is estimated by HMRC that 190,980 sales took place in March 2021, a 202.3% increase in transactions compared with the previous year at 94,380.

Despite the tapering of the stamp duty holiday later this summer, it has been predicted within the sector that the high demand levels we're seeing will continue to propel activity and protect property prices.

The vaccine roll out and easing of lockdown restrictions have led to dramatic changes to consumer confidence within the UK, supporting this expectation for the housing market.

If you'd like to review your options buying or selling this year, talk to us today.

What you need to know about the 95% mortgage guarantee scheme

A new mortgage guarantee scheme was announced this spring, with the goal being to help first-time buyers and aspiring home movers purchase a home with a smaller deposit.

The initiative, which will be available for new mortgages up to 31st December 2022, is intended to increase the availability of mortgages on new or existing properties for those with small deposits. 

This comes after a plummet in 95% mortgages made available last year, as lenders lost confidence in the UK's financial stability due to the pandemic.

How will it work?

It is based on the Help to Buy mortgage guarantee scheme that ran from October 2013 to December 2016, which backed mortgages for 104,736 purchases – 2.7% of all those in the UK.

The average property bought through the scheme was worth £159,170, compared to an average UK house price of £223,000.

In terms of restrictions with the latest initiative, only first-time buyers or those moving homes are eligible to apply, not those wishing to buy second homes or buy-to-let properties.

First-time buyers and home-movers form a vital cog in the economy and housing market, so government support will play a crucial role in restoring the balance.

To get assistance on your mortgage needs, get in touch today, or browse our latest properties to see what's available in your area.

Stay informed with changes to the Right to Rent scheme

First introduced in 2016, right to rent checks have been a core part of the check in process for landlords and tenants.

Are you informed as a landlord on right to rent checks in 2021?

Click here to read Stay informed with changes to the Right to Rent scheme.

What will the UK’s private rental sector look like in ten years?

A recent report, based on a survey of 1,376 adults in rented accommodation, offer some interesting food for thought...

Click here to read What will the UK’s private rental sector look like in ten years?.

How landlords can make use of PDR to boost earnings

In 2021, legislation introduced a new ‘Permitted Development Right’ (PDR). The PDR has opened a range of new...

Click here to read How landlords can make use of PDR to boost earnings.

Why is January a great time to sell?

January is a time of clarity, after shaking off the tinsel and pine needles, it’s the time to return to everyday life with intentions of improving it – which is why plans for moving often come into fruition at this time of year. If you have some reservations about putting your house on the market so soon after Christmas, here are some reasons not to worry and why in fact, January could be the perfect time to sell…

New Year, new home

Buyers on the market at this time of year have a completely different mindset than usual. January can feel like a page turned for many people, with plans for a new life right in the margins. You’re less likely to run into time wasters and tyre kickers in the New Year. People looking for a home at this time are serious about their plans, and if your home happens to match their criteria; you’re in luck.

Boast your home’s best features

Smart buyers will look for a home in the winter. Not only to avoid the summer frenzy, but also because cold weather is far more revealing, and homes can potentially look their worst in the winter. However, this is a great window of opportunity for sellers. Your agent will be able to showcase the comforts of your home with staging so that your bright, warm and welcoming house contrasts against the dark and cold. A cosy refuge from the cold that holds up nicely in the Winter is bound to look even better when the weather cheers up, and this prospect is certain to draw in buyers.

On the move

In the wake of the holiday season, January is known for being the busiest time of year when it comes to employee redistribution and staff changes. With many people working from home, a change of job may be the push needed for a change of working environment; instead of moving offices, people will be moving to new homes with better office space.

Now is also the perfect time for first-time-buyers to take their first step onto the property ladder. After spending Christmas indoors with family or in a small apartment, a change in environment could be just the thing they need.

Less competition

The winter months are a great time to put your house up for sale, particularly in January when the seasonal lull is still wearing off and fewer properties are on the market. You won’t need to fight for buyers’ attention, and the imbalance of supply and demand could be great news for sellers, as buyers know their options are fewer. It’s also easier to make your home stand out from a (smaller) crowd of homes on the market, and if yours has something special to offer, it won’t stay on the market for very long.

The green element

EPC ratings are becoming increasingly important, and the cold weather will allow you to show off your home’s energy efficiency. Buyers are becoming more conscious about energy bills and individual environmental impact at the moment, and a cosy property with an impressive EPC rating has never been more attractive to buyers than right now.

Ready to get your home on the market? Speak to our team of experts today to get started.

A landlord’s essential winter checklist

Amidst all the hustle and bustle of Christmas preparation, the holiday season is really about taking a much-needed break from everyday business to spend time with loved ones. But before enjoying some time off, landlords must make sure everything in their rental property is running as it should. Other than avoiding hefty repair costs, investing some time into your property before Christmas means you won’t have to deal with any last-minute calls when you’re in front of the fireplace trying to enjoy your mince pie.

Here are all the essentials for landlords to check off the list before wrapping things up for Christmas and the New Year.

Water pipes

Frozen water pipes are a common problem over the winter months, and a build-up of leaves or debris in your gutters can prevent rainwater or snow from draining away. Internal and external water pipes should be checked and properly lagged – including any pipes in the loft. Lagging pipework is an easy DIY project which will immediately make a difference, especially in the winter. Getting this step out of the way will ensure that the heat in the hot water is not lost before it gets to where it’s needed – reducing the risk of frozen or burst pipes.

The boiler

The boiler has some busy months ahead, and it’s going to be working hard over Christmas when your tenants are spending more time at home. Make sure your property’s boiler has been serviced and consider putting a service plan in place. If it’s a gas boiler, ensure the gas safety certificate is up to date.

Ventilation

Although having a warm property is ideal for both you and your tenants, condensation can quickly lead to dampness when the weather outside is colder. Make sure your property is well-ventilated and focus especially on airflow in the kitchen and bathrooms. You may also want to advise your tenants to keep an eye on condensation and encourage them to crack open a window or switch on the extractor fan wherever possible.

Alarms

Check that all smoke and carbon monoxide detectors are functioning in accordance with current government legislation. While you’re paying a visit, it might be a good idea to give your tenants a quick brush-up on fire safety, as Christmas decorating often calls for more electronics and candles than usual.

External

While you’re paying a visit to the property, take some time to check over any external spaces. Make sure all security measures are working, check for peeling paint as this can indicate moisture ingress, and look out for any cracks in the driveway or paving that hard frost could exacerbate.

Guttering

In the wake of Autumn, a build-up of leaves and debris is something to look out for as this can stop rainwater or snow from draining properly. Avoid potential leaks and cracked drain pipes by clearing out gutters if necessary.

Kick back and relax

Lastly, if you won’t be home over the holiday season, let your tenants know who to contact while you’re away in case of an emergency.

Once you have made sure your tenant’s Christmas won’t be compromised by a faulty property, you can finally put your feet up and rest assured that your tenants will be comfortable this season – and that you won’t be facing any eyewatering repair costs come New Year’s.

Browse our website today to discover the services we offer to our landlords.

What to expect for the buy-to-let market in 2023

As we approach the end of a turbulent financial year, many landlords in the UK will be weighing up their options going into 2023 and debating whether to remain in the buy-to-let market. Despite an uncertain economic outlook, we can take a look into what’s happening right now and decipher whether or not buy-to-let will continue to be a worthwhile investment going forward.

What’s happening to buy-to-let mortgages?

In the fallout from former Chancellor Kwasi Kwarteng’s renowned mini-budget, just like the rest of the market, buy-to-let loans took a hit.

The number of available products decreased to just 988 different deals in the wake of the announcement, compared with 1,942 before the mini-budget, according to Zoopla.*

This is due to interest rates increasing significantly since the beginning of the year as a result of the hikes to the Bank of England’s base rate, which is the official cost of borrowing.

However, the mortgage market is currently in state of flux. Rates have slightly fallen after some market confidence was restored by the appointment of Jeremy Hunt as the new Chancellor, and they may fall further as the cost of government borrowing continues to drop.

Are any new regulations are being introduced in 2023?

The government has pledged to introduce the Renters Reform Bill, which includes measures to protect renters from unfair rent increases and evictions. Homes will also have to meet minimum standards and it will become easier for renters to have pets.

The changes are centred around improving the quality of homes in the private rental sector, with the government estimating that 21% of properties are currently unfit.

However, the new bill will not lead to significant extra costs (if any) for landlords who already maintain high standards.

What’s happening with rents?

Rental rates are currently rising in line with mortgage rates. Data from Zoopla’s latest Rental Market Report found that new rental rates have increased by £115 during the past year to average at £1,051.*

This sharp spike is due to the disparity between supply and demand in the sector. With too many landlords exiting the market due to uncertainty, there are too few properties available in the private rental sector to catch up with current demand.

The number of rental homes on the market is currently around half the level seen during the past five years.* Meanwhile, the rate of demand for a rental property is around 142% higher than five years prior, according to Zoopla.*

We can expect that the trend of demand outstripping supply is likely to continue into 2023, putting further upward pressure on rents.

Should I purchase a buy-to-let property?

Those looking to invest should not be deterred by the current conditions. In fact, with rental demand soaring, first-time-buyers postponing their step onto the property ladder for the time being, and rents reaching new highs, you are likely to be in a strong position if you choose to invest now.

What’s the outlook?

The buy-to-let market – like the rest of the market – is likely to encounter a few ‘bumps’ in the coming year as a result of hiked up mortgage rates and the cost-of-living squeeze.

But with demand far outweighing supply for rental homes, and strong rent increases expected going into 2023, property investment remains a safe bet over the long term, in spite of any short-term hurdles.

If you’re interested in becoming a landlord, contact our team today for advice.

Zoopla*

Demand on the rise for energy-efficient homes

Santander’s Buying into the Green Homes Revolution Report has revealed that nine in ten estate agents have acknowledged that demand is rising among homebuyers for properties with higher energy efficiency ratings. *

The research unveiled that estate agents are poised to play an important role in increasing awareness among homebuyers regarding energy efficiency, as demand for green homes continues to rise.

Green homes growing in popularity

Santander’s report asked 2,000 homeowners and 175 estate agents for their perspectives on retrofitting and found that there is a fast-growing interest among homebuyers for energy efficient homes. 85% of estate agents also reported increased demand for greener properties in the past twelve months. *

54% of the estate agents surveyed pinned the growth in demand down to the rising cost of energy bills, alongside an increased number of green mortgage products from lenders (45%) and a greater awareness of the need to tackle climate change from an individualistic approach (51%). *

Growing awareness in the environmental crisis and the rising cost of energy is steering buyers towards competing for homes with a smaller carbon footprint, which is why buyers on average are spending 15.5% more for a property with a high EPC (Energy Performance Certificate) rating. *

Estate agents stepping in

While engagement for green homes is growing, there appears to be a knowledge gap amid homeowners, with 60% not knowing the EPC rating of the property they live in, according to Santander’s survey. *

The research indicates that estate agents are taking a more proactive approach in helping bridge this gap for sellers, with 66% in the past year undertaking training to better improve their knowledge, and a further 29% planning to do so in the future. In addition to this, 61% have updated their marketing materials over the past year to focus more prominently on energy efficiency information. *

Homes with poor energy efficiency

Not only have agents reported a rise in demand for green homes, but they also acknowledged a decrease in demand for homes with poor EPC ratings. Over the past year, 70% of agents reported seeing homeowners struggle to sell their properties due to poor energy efficiency. Additionally, the time it takes to sell is on average 3 months longer compared to a property with a good EPC rating, according to Santander. *

Graham Sellar, Head of Business Development – Mortgages at Santander commented: “The feedback from estate agents is striking and reveals that in an environment of the rising cost of living pressures, there has been a real shift in preference among buyers for homes with reduced energy costs.

“Estate agents will be a key part of raising understanding and awareness among buyers and sellers on the benefits of having an energy-efficient home, so it is encouraging so many are being proactive in improving their understanding. With the findings showing a clear ‘green home premium,’ the benefits are clear, and any changes made will not only reduce buyers’ bills but make the property more attractive to buyers in the future.” *

Santander – Buying into the Green Homes Revolution Report*

Are you on the hunt for an energy-efficient home? Browse our current selection of properties today.

Open 7 days a week, 8am - 11pm

Property Management

Barnes

East Sheen

Putney