The latest from Greenstone

The latest from Greenstone


Welcome to the May edition of the Greenstone newsletter where we share the latest property news and guidance. 

First up this month, we look at how stamp duty holidays could help the housing market by looking at insights from Zoopla. Next we share some ways that you can boost your productivity during lockdown. Many of us will not be used to having so much spare time, so why not try and use this time wisely. Our next article on healthy habits is a good starting point. Finally, we share our insights into financial services and how they have been affected, and what this means for you. 

We hope you enjoy this months edition. We also provide property tips, insights, and updates on our social media channels which you can click to follow at the end of our newsletter. As always, please get in touch if you have any property queries.

Best regards

Lewis Green, Director


How to be more productive through lockdown

 
With lockdown currently in place and the restrictions set for the near future, very few of us will ever have had so much time on our hands. It would be easy to let this time pass by, so we have put together some top tips on how to make this lockdown period more productive.

Routine
If you’re working from home, then the likelihood is that you already have some sort of routine as you need to be answering those video calls and available to answer the phone during normal business hours. However, if you aren’t working at the moment, then the days can merge together due to a lack of structure. We would recommend finding your own routine, even if you’re not working – getting up at a set time and having some structure to your day will help your mental wellbeing and with the compartmentalisation of your time.

Small Manageable Goals
The key to productivity is being effective over sustained periods, and that means lots of small but easily identifiable goals. Think about reading a large book – 30 chapters may seem excessive, but 3 per day is much easier to achieve and will at least have you making some headway into the task – by setting a target that is easily achievable, you will often motivated to exceed it and as such be even more productive.

Learn A Language
One way to make the most of this lockdown period is to learn a new skill, such as acquiring a new language. With websites and applications such as Duolingo offering structured and methodical teaching techniques for learning a new language. We would recommend a language such as French if you are going to teach yourself as you will probably have some basics ingrained from school, and the sentence structure and word stems are comparable to English.

Organise Your Home
There has truly never been such an opportune moment to organise your home and get rid of all those possessions that you no longer need! Why not look back at the lockdown as the time you organised your home; think about the kitchen cupboards, wardrobe, bath cabinet – all of the spaces that can be neglected.

Organise Your Finances
With the lockdown bringing with it fiscal implications for many of us, now is a good time to take stock of your personal finances. Spend some time analysing your own personal finances, looking at your monthly expenditure, savings, mortgage or rent and see how you can improve on your current status. That may mean opening a savings account and depositing just a little each month, or cancelling services that you no longer use, such as expensive gym memberships. Taking stock of your finances now could put you in a better place in future years, as you create better spending and saving habits.



Healthy habits to see you through lockdown

 
It can be easy to become demotivated spending so much time indoors at home; especially if you were used to being out of the house more often than in. However, it is important that we pay attention to our mental health and wellbeing to ensure that we are looking after ourselves. Whilst we have so much more time on our hands, we have an opportunity to adopt some healthy habits into our usual routines to keep us feeling good. Continue below for some ways to improve your wellbeing.

Drink Water

We all know that we should drink more water, but it can be easier said than done. Water is so important for our health as it performs a range of vital functions in our body. Our body is made up of 60% water! When we don’t drink enough of it, we can become dehydrated causing tiredness, poor concentration, and headaches. Most of us should drink around 6 to 8 glasses of water a day. For a different taste we can also try herbal teas, coconut water, and include foods in our diet that have a high-water content.

There are also apps that can help us to remember to drink throughout the day, such as Plant Nanny. Plant Nanny allows you to grow a virtual plant and water it every time you drink a glass of water to help it grow.

Eat Healthily

A balanced diet is a healthy diet. We should include a variety of foods in our diets to ensure that we get all the nutrients and vitamins for our body. Some ways that we can incorporate a healthy diet into our lifestyles is by meal planning. Now that we are spending more time at home, we have more time to cook meals from fresh. So now is the time to get out those recipe books or head to the many online recipes available at the click of a button.

Another tip to encourage healthy eating is to keep healthy snacks around. This will ensure that you do not binge on unhealthy treats. Baking your own healthy snacks is a great way to understand what you’re eating (such as making your own granola bars).

Exercise

Research shows that exercise can help to relieve stress, improve mood, and stimulate the production of endorphins which can create feelings of happiness for us. So, it is the perfect remedy for days where we might feel stuck in a rut. It obviously improves physical health too!

There are hundreds of free online workouts that you can follow. Or you can make it as simple as going for a walk or a run, dancing in your living room, or doing some yoga. The more we can get our bodies moving during this time the better we will feel.

Be More Present

If there is one thing that has changed for most of us during lockdown, it’s that our lives have slowed down. No longer are we rushing around from the moment we get out of bed in the morning.

We can use our additional time spent at home to learn how to be more present, which essentially means to be focused on the one thing that you are doing, or the people you are with. Practicing mindfulness can help with this. There are many apps available to try, such as Headspace. Headspace talks you through short breathing and mindfulness techniques to calm the mind and promote positive health. Keeping a gratitude diary can also help you to focus on what you have in your life without always thinking about more.

Connect With Family And Friends

Although we can’t meet up with our family and friends as normal, it is so important to stay in regular contact with them. With the endless digital tools that we have available, it’s so easy to do this. There are many ways to be inventive when connecting online through social media or video call. There are games and quizzes you can play; as well as having a good old chat. Keeping in touch with people will boost our sense of belonging as well as providing crucial support to those we care about. Our relationships are so important to us so create a habit of checking in with family and friends more often.



How are financial services currently affected by the coronavirus?

 
What is happening to borrowing rates?

Financial services, like all other business sectors, have had to make changes to respond to the current health pandemic’s effect on the economy. Less people spending money has caused financial services to make adaptations necessary to prevent damage to the financial market. The Bank of England has cut the base rate to a record low of 0.1% to reduce the cost of borrowing for consumers and minimise disruption over the coming months. This is the Bank's lowest ever interest rate in its 325 year history.

What does this mean for mortgages?

Mortgage rates are falling in line with the cheaper cost of borrowing. Although new mortgage applications are mostly on hold due to COVID-19 restrictions, those with existing mortgages should consider switching to a different offer; as they could access some great deals!

What mortgage deals are available?

Mortgage lenders are starting to bring new deals to the market for both fixed rate and tracker mortgages. Experian have launched a user-friendly remortgage calculator to support customers in the search process for the best deals on the market. They have also stated that using this will not impact on credit scores.

The greatest saving can be made for those who already own large amounts of equity on their homes, or those that have put down large deposits. However, that should not stop you from considering a new mortgage deal.

How long does my mortgage offer last?

Usually, a mortgage offer is valid to you for three months. This is from the date that the offer was made to you, up when you take the funds. However, within the current conditions, lenders are offering an additional three-month extension to their offers.



How A Stamp Duty Holiday Could Help The Housing Market

Zoopla’s head of research says a stamp duty holiday could encourage more home owners to move which in turn could help fuel economic activity in other sectors.
 

Click here to read How A Stamp Duty Holiday Could Help The Housing Market.