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

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

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

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

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

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

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

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

Zoopla*

 

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

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

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

First-time buyers
The Mortgage Guarantee Scheme was extended until the end of December 2023. The government-backed scheme has helped over 24,000 households get on the property ladder.*** Its aim is to help people with a 5% deposit, and it was launched in April 2021.

Aimed at first-time buyers, it’s similar to the government’s Help to Buy scheme, which ended earlier this year. So, you still have time to take advantage of it.

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

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

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

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

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

 

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

 

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

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

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

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

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

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

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

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

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

 

Rightmove*
English Housing Survey**

 

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

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

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

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

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

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

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

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

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

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

 

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

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

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

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

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

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

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

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

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

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

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

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

 

 

 

An increasing number of ‘for sale’ signs have been turning to sold, which has created more confidence in the market this summer. If you are thinking about getting an agent around to place a ‘for sale’ sign in your front garden, here are a few positives to keep in mind.

House prices are settling  

House price fluctuations vary from street to street, town to countryside, and region to region. But, one common thread is that house price changes are small and for the most part, have been increasing. This settling, or hardening of property values, helps firm up the foundation of the property market. 

More people are moving because it’s easier

Is moving still stressful? Certainly not as much as in the past. Home renovations and improvements have got to be higher up the stress ladder. Moving is becoming simpler thanks to an increasingly streamlined process, and agents who offer better customer service with modern tech.       

The market has turned a corner 

The spring market has offered proof that the UK property market is improving and has set the scene for a better summer. Mortgage approvals increased by 18%*, and sales agreed increased by 13%** in the spring.

Mortgage choice remains very strong

It’s worth watching the mortgage market as closely as the property market. With thousands of improving products available, offering innovative ways to buy, such as 1% mortgages for first-time buyers, to offset mortgages, which may help reduce the amount of interest you pay.  

Modernised-characterful properties 

Homes with car charging points, solar panels, smart technology, and higher EPC ratings, are appealing to a growing number of buyers. But, it's not all about keeping it green. Features such as bi-fold doors, a multitude of outdoor spaces, and inspiring layouts are waiting for buyers.  

A new outlook on the UK property market

Homemovers now have a better understanding of the moving market and are getting on with moving, keeping it buoyant. Interest rates, while not as low as previous ultra-low levels, still represent good value. Strong equity levels and slower house price inflation make moving more affordable. 

What’s your moving story?

It’s important to take economic news and market data with a pinch of salt. Each homeowner sits in their own unique corner of the market. Cash buyers for example, may care little for mortgage interest rates. Homeowners have more options due to larger amounts of equity, and if you have improved your home, it may have added a lot of value and help fund your next move.

 

Begin your moving story by browsing our properties

 

As a landlord, you have a lot to think about, and whether you are highly experienced or just starting out, there is always something new to learn. As a savvy investor in property, you understand the importance of keeping costs down. Managing one or more properties can be a full-time job, and with so many potential pitfalls looming, a managed letting service could save you time and money.

Less time-consuming  

Paying a monthly management fee for a fully managed service or even a one-off payment for a tenant-finding service may feel a bit counterintuitive. However, the saying time is money really rings true in the property industry. Arranging and conducting viewings, tenant referencing, property inspections, maintenance, and rent collection are not tasks you want to rush. Leaving this in the capable hands of a good letting agent frees up your time and reduces the opportunity cost for your other business or career interests and leisure time.  

Legal fees and fines  

It’s important to keep your property compliant and the reality of failing to do so could mean serious financial consequences. Worse still, if you put the health and lives of your tenants at risk, it could mean eye-watering fines or even imprisonment. Safety certificate breaches, illegal eviction, not protecting a tenant’s deposit, and failure to obtain the correct licenses and permits are just a few reasons why you could face penalties, and it’s worth noting that some of these fines have no ceiling. Letting agents could help you keep your property on the right side of the law, preventing these sorts of shortfalls from occurring.  

Achieve better rents  

Using a local-based lettings management service offers many advantages. One such plus is their local market knowledge. This is useful in getting to grips with and keeping on top of how much rent to charge. A good agent will also offer suggestions for improvements or tweaks that could increase the amount of rent you could charge. This is something you could use with a basic package if you choose a part-managed letting service, sometimes known as a tenant-find service.  

Property maintenance

A fully managed lettings service takes care of perhaps one of the most potentially awkward and time-consuming aspects of managing your property. Many offer a 24/7 emergency maintenance service, which is a big draw for tenants. Preventing small issues from becoming large, expensive refurbishments, could save you thousands. It’s also important to address the niggling things that keep tenants happy, so you do not have void periods—an empty property does not pay the rent. Carrying out essential work with the right contractors who have a better understanding of rental properties, is often another benefit of using a managed letting service’s maintenance team.  

Choose the right level for you  

A fully managed service could take care of everything from viewing to notice proceedings, including a final inspection and handling the return of your deposit, as well as everything in between, such as property maintenance. That said, you may opt for a more rudimentary level of service, such as a tenant-finding service. You could also add to this with a rent collection service, which means property maintenance would be down to you. It's always worth talking to your local agent to see if they can tailor a package that suits you and your budget.

 

Contact us today to explore our range of managed letting services

 

When you’re looking to sell a property in Scotland, providing potential buyers with a home report is not only a key part of the process but also a legal obligation. Let's take a look at what a home report is, what it includes, and any exceptions where it may not be required.  

What is a home report?  

A home report is a document that provides buyers with important information regarding the state of a property they are looking to purchase. Anyone selling a residential home in Scotland is required by law to submit the report within nine days of the buyer requesting it.  

What is the purpose of a home report?  

Home reports are designed to increase transparency in the property market by providing interested buyers with all the information they need upfront. They help to reduce the risk of buyers encountering issues down the line that they were not made aware of before buying.  

What does a home report include?  

Home reports are made up of three sections: a survey and valuation, a property questionnaire, and an energy report.

The survey is a visual inspection conducted by your Chartered Surveyor and gathers information regarding the condition of the home and any repairs that need to be carried out.

The property questionnaire covers 16 different categories and is designed to provide buyers with additional information. Example of these categories include council tax bands, previous issues, extensions, and details of notices that may affect the property.

The energy report provides the buyer with an Energy Performance Certificate (EPC), which contains information regarding the home’s energy efficiency. It gives the buyer an idea of how much they can expect to pay in bills for heating, lighting, and water.  

Who is responsible for covering the cost of a home report?  

As a seller, it is your obligation to provide and pay for a home report with the help of a Chartered Surveyor. The cost of the report will vary depending on the size and value of your property. The cost can also vary between different surveyors, so it is important to seek the advice of your trusted estate agent to find the best quote.  

Are there any exceptions?  

Although it is a legal obligation for you to provide a home report when selling your property, there are certain exceptional situations where you can choose not to provide one. Reasons you can refuse include:  

• You don't believe the buyer is serious about purchasing your property
• You have reason to believe they cannot afford to buy your property
• You would prefer not to sell your property to them (be sure not to discriminate against them illegally)  

Additionally, there are certain properties that don’t require a home report, including:  

• Properties that have been on the market since before December 2008
• New-build houses sold to the first occupier
• Newly converted homes that haven’t been occupied in their current state  

It is important to note that you must still provide an EPC report, even if a home report is not required.  

 

Looking to sell your home? Contact us today

 

Periodic inspections are a vital part of being a landlord and running a successful enterprise. By performing regular inspections, you can maintain high standards throughout your properties and ensure you maintain happy tenants for the duration of their tenancy agreement.  

What are periodic inspections?  

The primary purpose of this inspection is to assess the overall condition of the interior and exterior of the property. Throughout the tenancy agreement, periodic inspections should occur at regular intervals. These are performed by the landlord or letting agent to assess the property’s legality, standards, and whether the tenant is meeting their responsibilities.  

Landlords have a duty of care that must be met, so periodic inspections are important. They deliver a high standard of living and maintain healthy, happy relationships with tenants. These inspections enable the identification and resolution of minor issues before they escalate into more significant ones. Maintaining these inspections on a regular basis allows you to avoid strain on your landlord-tenant relationship.  

How often should periodic inspections be completed?  

As well as performing inspections at the beginning and end of the tenancy, you also need to perform regular periodic inspections throughout the rental period. Periodic property inspections should be carried out at three to four monthly intervals, as this allows the change of seasons to occur, which can help reveal maintenance issues.  

When you have a new tenant, it’s important to begin the tenancy the right way by performing the first periodic inspection as little as one month after they move in. This will help you identify what your new tenant is like and allow you to build a good landlord-tenant relationship.  

Following this inspection, you should be performing periodic inspections at three-month intervals; otherwise, this could be seen as invasive. Your landlord's insurance guidelines will help advise you on how often you are expected to perform these regular inspections for insurance purposes.  

Giving your tenants notice  

To maintain a healthy landlord-tenant relationship, it’s important to have periodic inspections scheduled ahead of time. This shows the tenants that you have their best interests at heart and that you don’t want to catch them out when these inspections occur.   

When attempting these periodic inspections, it’s vital that you give your tenants notice. The ‘1988 Housing Act’ states that you must give your tenants at least 24 hours’ notice prior to an inspection, scheduled or not.  

What you should look out for during the inspection

Once you have agreed on the time and date of the inspection with 24 hours’ notice, it’s important to know what to look out for. As a landlord, you need to ensure everything in the property is legally compliant and is a safe space for people to live. This inspection also allows you to check that the tenant isn’t breaching their agreement, make sure they are happy, and resolve any issues or queries they may have.  

Statutory inspection checks  

You must check the property's gas safety and ensure that there is a gas safety certificate in place. Every gas appliance should be assessed by a gas safe registered engineer annually.  

Fire safety is another important factor. You must legally install smoke alarms and ensure they are continuously in working order. You can also supply fire blankets and extinguishers in the property, but they are not a legal requirement.

Electrical safety is another important part of checking the property’s legality, and you should have a registered electrician carry out a professional check every five years to get an EICR (Electrical Installation Condition Report).

All these certificates and reports should be available for the tenant to access.  

Tenancy breaches  

Tenants should take care of the property and are responsible for what occurs there. When performing these regular, periodic property inspections, this is your time to carefully inspect and see if any unwanted activity has been occurring in your property. This could range from subletting rooms to potentially smoking inside.  

Property condition  

Recording the condition of the property is a crucial part of periodic property inspections, as it allows you to arrange any maintenance or improvements that need to be carried out. By maintaining these regular periodic inspections, you are protecting your investment, and you can ensure the property is always safe.  

The benefits of using a letting agent  

Whether you are a landlord with one buy-to-let property or a large portfolio, periodic inspections are a vital part of property management. These can be difficult to carry out periodically without the help of a letting agent.

By using a property management service, you can ensure positive relationships and high standards within your properties are maintained. This could reduce your overall stress as a landlord and allow you to focus on growing your property portfolio.  

 

Get in contact with us today on how we can help manage your properties