Welcome to our January 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.

Is your new year's resolution to renovate your home?

Another New Year, a new beginning. If you've been thinking about renovating your home for a while, you can finally make your house dreams come true now that the festivities are behind you.

Outdoor living

Spring will soon arrive, and your garden and emphasis on outdoor living can finally begin to take shape. You want the best outdoor living space you can create; you've read all the magazines, watched all the programmes, and your mind is teeming with visions. Try adding an eating area, an outdoor working space, a pond, an orchard, and some sleepers, and see what else happens along the way!

Working from home space

If you would rather develop an indoor workspace, now is your time to get cracking. With more people working from home, inspiration for this trend can be found anywhere. Often, it’s about making it yours with individual touches while creating a comfortable place to work.

Going green

Perhaps you would like to increase the energy-efficiency of your home. Installing solar panels is a great way to do your part for the environment while saving some money. In some cases, you may even be able to sell the electricity you produce to your local energy supplier. This could mean your solar panels will pay for themselves, but typically the only cost after installation is for annual servicing. If you work from home, you might consider installing insulation to reduce your ever-increasing heating bills.

Creating extra living space

You could create another bedroom, a dwelling space for an elderly relative, or a new family. Alternatively, removing walls to modernise or create extra space is still challenging and will remain so in 2023, given the cost of raw materials and the shortage of good tradespeople available to carry out this work. So careful planning is essential, or it might not happen until next year!

Bathrooms

January is a great time to get an awesome deal on a new bathroom, despite the waiting lists to get it fitted with large, branded suppliers or individual bathroom fitters. There is nothing to stop you from buying and booking now, and with some luck, the design of your choice could become a reality in time for summer, or even spring!

A new kitchen

Buying a new kitchen in January leads to huge discounts and when completed, adds real value to the value of your home. As the central hub for any home, bright spaces and light colours are on-trend, as are natural material surfaces matched with metallics. Seamlessness and fluidity between rooms with open-plan living or blending outdoor areas with the heart of any home are still on the to-do list of many this year.

An exciting year

Whatever you decide to do in 2023, whether you are renovating then selling or buying a newly renovated property, there is no doubt that there are some interesting and exciting ideas waiting to be implemented and already in place in many homes.

Searching for your perfect new home? Browse our properties today.

How to become a landlord

Becoming a landlord for the first time is an exciting prospect. There is money to be made if you get it right, but there are plenty of costly pitfalls lurking if you get things wrong, so be prepared to do a good amount of research so that you can protect your investment.

Here are all the key things you’ll need to know...

Your property

Decide what type of property you are going to let. Are you letting your own house? Perhaps you are looking at buying a new-build apartment or flat, which will afford you lower maintenance costs over the years. A student house will not require much in the way of good schools and other facilities if you plan to let to young families.

The right mortgage

If you are starting from scratch and buying a rental property for the sole purpose of letting, you will need a buy-to-let mortgage. The deposits for these mortgages are much higher than a conventional mortgage with a minimum deposit of 25%, and up to 40% for more competitive interest rates.

If you plan on renting your existing home there should be no need to re-mortgage, however you must inform your mortgage provider to seek permission to let your home.

Know your responsibilities

This is the big one, being a landlord comes with many legal and moral responsibilities, the good news is that many of these legal requirements will protect you as well as your tenants.

Deposits

When you let your property and take a deposit you are required to protect it, there are a few ways you can do this from government-backed schemes, insurance schemes and letting agents.

Contracts

You will need to create a contract between you and your tenants, setting out the terms of the rental agreement, covering notice periods for eviction, property inspections and who is liable for repairs and certain contents if let as a furnished property.

Right to rent

Just as employers need to take the necessary right-to-work checks, as a landlord you will need to check that your tenants have the right to rent in the UK.

Landlord license

In some instances, you need to apply to your local council before you let the property.

Safety

Apart from gas, water and electrical checks and certificates, consider smoke and carbon monoxide alarms. Perhaps lesser known is the legally required EPC - Energy Performance Certificate. You will be responsible for structural repairs, and the responsibility of making sure the property is safe to live in belongs to you.

Making a profit

You may have heard the term rental yield, what is it? How is it calculated?

Rental yield refers to the level of profitability of your rental property.

To calculate rental yield, divide your annual rental revenue by the purchase price of the property.

If you let your property for &500 per month and paid &100,000 to purchase the property.

Divide 6000 by 100,000, multiply by 100 to get a percentage figure.

The yield is this case is 6%.

It’s generally expected a good rental yield is 5%, however much higher figures can be achieved!

Letting agents

If you are a first-time landlord a great route to take is to use a letting agent to take care of everything for you. There are different levels of service letting agents can provide. It could be that you hire a reputable letting agent to find your tenants with references, create a contract and secure the deposit while you take responsibility for maintenance or repairs.

Many new landlords opt for a fully managed service. It will involve paying a little more commission on rent, but you will sleep soundly at night and should have more time to enjoy life!

Insurance

Having the right insurance will also help you get a good night’s sleep!

Landlord liability insurance covers you against legal claims from injury to your tenants if you are found responsible, as with any insurance you can tailor your policy to suit your needs.

Just as when you buy a house to live in, you will have to purchase building insurance before you purchase the property. Don’t forget contents insurance, particularly if you have let your property as furnished.

Conclusion

There is much to know and learn, so a good letting agent might be the best choice, just as finding the right property using a good estate agent makes life much easier.

Looking for your perfect first buy-to-let rental investment property? Contact us

Steps to beat the January blues

The Christmas lights have disappeared, it’s cold, and it seems like summer is so far in the future that it’s never going to happen, while you want to go back to the Christmas holidays, when you could relax with friends and family and plenty of good food.

Soon it will be spring, and with it comes renewal. So why not make a little effort now to usher in some change? Here's some inspiration and a few practical tips for you to try that will help you shake off the January blues.

Try something new

The best way to snap out of the same old cycle is to try new things. If you are not ready to get back to your usual exercise routine, then perhaps you could try doing some home improvements. Let’s start with some simple things.

Let there be light

Simply adding more light to your home is a great way to create a better environment and a more cheerful living space. Soft lighting, which creates a warm and homely feel, is one way this can be achieved.

Mirrors

Hanging mirrors near windows will reflect more light and add another dimension to any room. It’s a complete illusion of course, but it works, as a blank, oppressive wall seems to suddenly become another room.

You can rely on nature

The lines between indoor and outdoor living are rapidly disappearing in this post-pandemic world. Bring some of nature’s wonderful colours and smells indoors by adding a few extra plants, flowers, or even fruit trees to uplift any room in your home.

Furniture

Whether your furniture consists of modern items, antiques, or even a freebies sourced from Facebook; sand things down, restore them, or simply paint them. Perhaps you already own the perfect table that, when painted, will transform your dining room. Sideboards and cabinets painted in bright colours are on-trend, or if you prefer the classic look, it will make you feel great and complete a room.

Change your surroundings

Pictures, paintings, and collectibles — authentic art that has been hand-painted by artists and captures the beautiful scenery of a place you love — are a great way to help alter your surroundings. Antique dealers always have something small and affordable, but if cost is not a concern, add to an exquisite collection. You can even get creative and make something with wood, or maybe photography or sewing is your thing!

Get out and enjoy some viewings

Perhaps you are determined to move and do not want to spend a single pound on anything in your home. If that’s the case, rid yourself of the January blues by going to see potential properties. Online viewings are an awesome way to see multiple homes, but there is no substitute for house viewings, to see if you get that special homely feeling.

Get your 2023 property search underway! Browse our properties

Belinda Carlisle - 10th February 2023

Belinda Carlisle returns to The London Palladium. With The Decades Tour, the internationally acclaimed recording artist will celebrate her rich musical catalogue and chameleonic musical prowess.

Click here to read Belinda Carlisle - 10th February 2023
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