November Newsletter

In this month’s Coldwell Banker newsletter, we have put together a variety of articles for you that explore both sales and lettings news. We start by giving you some advice on what to do if your home is not selling, tips to create a home without losing an entire room and how we are moving from a generation focused on renting to a generation that now wants to buy.

We will also be telling you what buyers really look for when they are viewing your home and the impact COVID-19 has had on landlords in the buy-to-let market - we hope you enjoy.

St Patrick’s Parade

Join us on our annual parade through the streets of London to celebrate all things Irish!

Sunday, March 15, 2020 at 12 PM

Click here to read St Patrick’s Parade .

Sell Your House, Step By Step

Are you looking to sell? Sometimes it’s hard knowing where exactly to start. Our step by step guide might look like a lot of information but it can really be a good reference point to help you during this process.

1. Work on your finances
With our mortgage valuation tool you can get an estimate of your property's worth.

2. Choose your estate agent
You have options. Sell yourself or use local or online estate agents.

Do some research, compare estate agents by how quick they sell, how close they get to the asking price and how successful they are.

Agree on a fee, aim for 1% plus VAT for sole agent.

3. Get an energy performance certificate
You will need one to provide to potential buyers.

4. Decide how much
Get to know your local market as this will help you decide.

Get several valuations. You don’t need to go with the highest either.

Buyers like to negotiate so add a 5% or 10% to what you’re willing to accept.

5. Get a conveyancing solicitor
They handle the legal work.

Get an overview of how much conveyancing costs.

6. Fill out your paperwork
There is going to be a lot of it!

7. Accept an offer!
Congratulations, the estate agents legally must now pass all offers over to you.

Once you’re happy with the offer, formally accept.

8. Work on your draft contract
You and the buyer will have to negotiate-
• The length of time between exchange and completion.
• What fixtures and fittings will be including, and if they have a cost attached?
• Any survey discounts.

9. Contracts get exchanged
This is the process when you become legally committed to selling your property, and they become legally committed to buying from you.

When you sell the house, you are responsible for maintaining the property until the sale is fully complete.

10. Move out
It is less stressful to move out before the day of completion if possible.

Completion is when the property changes ownership. Once the keys have been handed over.

11. Pay of your mortgage

The mortgage company will have given you and the solicitor and outstanding amount for the day of completion.

Now the buyer has transferred the money that will essentially pay off the mortgage for you.

12. Settle with everyone
Once completion has been finalised, your conveyance solicitor will send you an overview covering all their costs, as well as outing the sale price.

If you’re buying and selling at the time, you can settle for both transactions at the same time.

There can sometimes be a small discrepancy and you may even get a little refund.

The Right Survey Could Save Money

Buying a house can be an incredibly tense and stressful time. Falling in love with a property but not knowing how it is going to play out is often the situation for most buyers. Imagine falling in love with a beautiful Victorian house only to find out later down the line that there are major issues with the roof and require thousands of pounds worth of construction work. You would rather know this sooner rather than later. Getting the right survey could save you this stress but also a lot of money.

According to a study by Hillary, an interior specialist, more than two thirds of Britons don’t know what property surveys are available, never mind which ones are best. And it is leaving us around £3000 out of pocket from repairs, which isn’t ideal for anybody, never mind someone who has just bought a house. That money could be spent on something so much more worthwhile.

The study also asked 2,056 new British homeowners all about their buying experiences.

54% of people had uncertainty during the whole buying process,
62% didn’t know what surveys were available,
79% thought that one survey covered everything, and that isn’t the case.

What are the different survey options?

Home condition report, at around £250: This is the more basic and cheaper option. It is quite a short, surface level inspection that highlights the obvious defects. This report is good for someone whose property appears to be in good condition but would still benefit from being checked for hidden damp or structural movements.

Homebuyers report, at around £300: This survey is more suited for Victoria aged properties. This will mirror the home condition report but will include advice and maybe an independent valuation of the building. If after the report, the value given is less than what you offered, don’t worry. This doesn’t mean you should pull out of the sale. Speak with your surveyor about the potential problems and how much it will likely cost. Try and use this information to negotiate the price down. If the seller won’t budge, you then need to make the decision to proceed or withdraw; depending on the cost. Your surveyor will have experience with similar circumstances so use them to help you.

Building survey, at around £500: If you’re investing in a much older property then this survey is vital for you. It is also worth noting that if you’re planning on doing any construction work such as loft conversions or extensions then this one applies for you too. This survey looks in detail at the condition, defects and the possibility of extending. The surveyor will also be able to provide a cost of how to rectify any problems listed.

Another recommended report is a gas and electric survey. This is vital for properties older than 25 years and if there are bare wires visible. It is even more important if you are planning on renting the property out as you will legally need to provide these safety certificates.

You’re probably thinking all these extra costs sound intimidating, but just think it could seem a lot now, but in the long run it is the more cost-effective option.

How To Keep Your BBQ Clean All Summer Long

With the sun finally making an appearance, BBQs will be the order of the day for plenty of us, especially after the lockdown period where a lot of time was spent indoors. However, if your BBQ hasn’t been used since last summer or you forgot to clean it after filling up on delightful treats the last time that you used it then giving it a good clean will be required. Here are a few tips to make the task as simple and effective as possible.

Keep It Hot
The best time to clean your BBQ is when it is hot, as the heat itself will help to burn away a lot of stubborn food remnants. It goes without saying that you must be as careful as possible when cleaning your hot BBQ, but ensure that you are wearing gloves as a minimum precaution. With the BBQ hot, you can scrape away any grime that is present and once completed and the coals are cooled slightly, you can soak old newspaper in water and cover the grill with this – effectively steaming the BBQ clean.

Elbow Grease
There’s no substitute for elbow grease! Giving the BBQ a scrub using hard bristled brushed and scourers will help to get everything clean once more. Once you have given everything a thorough scrub, use dishwater and a cloth to remove any residue left over.

Polishing The Exterior
Now that you have cleaned the grill and the interior is looking as good as new, it is time to tackle the exterior. Use warm, soapy water to clean the exterior of your BBQ and once dry you can buff with a dry cloth in order to achieve a better finish. To protect your BBQ from the elements, a top tip is to lightly coat it with mineral or baby oil as this will help to shield it from mother nature.

Keeping It Clean
The next time you use your BBQ, to make the cleaning process easier, then coat your grill with sunflower oil as it will prevent food from sticking and the grill from going rust.

How Landlords Avoid Void Periods

All landlords at some point will experience the unfortunate situation of having void periods, hopefully not for any protracted periods. Read a few our tips which could help you to avoid these situations, or at least reduce them to a minimum.

Do your research
One of the easiest ways to avoid long void periods for your property is to ensure that you have the right tenant in your property in the first place. Having a tenant in your property who is suitable and can afford the requisite rent will, of course, reduce any headaches for you later down the line. Ensure that you agent has properly referenced tenants, and if at all possible, try to meet prospective tenants to establish a good relationship from the outset.

Short term vs. long term
As well as researching your tenants, investigating the area that you are letting your property within to ensure that you are asking for a fair price will also help you to side-step any void periods. A keenly priced property will attract more applicants, giving you a greater choice of tenants. It is important to keep in mind here that offering a more competitive rental price could lead to longer tenancies, therefore finding the balance is imperative for any landlord.

Property inspections
Regularly inspecting your property can be a good way to build up further rapport with the tenant if you are managing a property yourself, and allows you to ensure that it is in a good condition. This can benefit you in multiple ways; firstly, it helps to ensure that your property is of a nice standard for the current tenant, as well as meaning you don’t have to waste any time should your tenant move out and you want to bring your property to market immediately.

Find the right agent
With the raft of new legislation which has come into place in the lettings industry, having a well-informed and proactive estate agent has never been more important. Employing an agent on a fully-managed service will take many of the responsibilities out of your hands as a landlord and with the superior marketing available, as well as pools of applicants who are tried and tested, the most straightforward way to reduce your void periods could be to choose your agent wisely.

Top Tips For First Time Renters

If you have never rented a property before then the process can seem quite daunting, however with a little preparation and a good estate agent you can sidestep the potential confusion and focus on the excitement of finding a new property!

Here are our top tips for first time renters…

Calculate Carefully

When it comes to renting a property, it is important to calculate your costings because if you underestimate your costs per month, then this will compound over each month that you are in the property. In your calculations, include the monthly cost of the property, council tax and utility bills (include items such as broadband internet, phone line, television license and television streaming services). As a rule of thumb, it is good practice to add 10% to your estimated costs so that you have a comfortable buffer, in case they are higher than anticipated.

Picking The Perfect Property

Whether you are moving out of the family home or you are transferring from a purchased home to a rental, one thing that mustn’t be underestimated is finding the ideal property. Do your research and look at a selection of properties in different areas – you may be surprised at how much more or less property is available based on the locations that you choose. Registering your interest with us will also help to ensure that we can let you know when properties which match your criteria reach the market – this is key as the lettings market is extremely fast-moving.

Due Diligence

When you move into your property, check that the smoke alarms and carbon monoxide detectors installed are working correctly. Before you sign your tenancy contract, you will be asked to prove you have the right to live in the UK, so ensure that you have your passport or documents ready to hand. Once this is completed, you should be given a copy of your property’s Gas Safety Certificate, Energy Performance Certificate, the Prescribed Information and if you are entering into a new tenancy from 1^st July this year then you should also be given an Electrical Safety Certificate.

Initial Inventory

The inventory is a detailed document outlining what is included in your rental property – this will of course be much more comprehensive if you are renting a furnished property over unfurnished – however is vitally important for both variants. Check that you are happy that the inventory document matches exactly with what is in the property and if there are any discrepancies be sure to make a note of this and notify your landlord or estate agent. Taking photographs and dating them before you have moved any furniture into the property is also a useful reference for when you move out of the property and could avoid any potential deposit disputes.

What Is The Green Energy Grant And How To Claim It

As part of Chancellor Rishi Sunak’s summer statement, green energy grants up to a possible £10,000 will be available from September in order to pay for green home improvements such as a new boiler, loft insulation or double glazing.

For the majority of homeowners, grants of up to £5,000 will be available but for those from low income households, this amount doubles in order for the cost of energy-efficient home improvements to be fully covered.

The Chancellor confirmed: "From September, homeowners and landlords will be able to apply for vouchers to make their homes more energy efficient and create local jobs.

"The grants will cover at least two thirds of the cost, up to £5,000 per household.

"And for low income households, we’ll go even further with vouchers covering the full cost - up to £10,000."

Measures such as loft, wall and floor insulation, double glazing, lighting, energy-efficient doors, boilers and heat pumps will all be included under the scheme, with Rishi Sunak predicting a saving a £300 per year for households who make the most of the grants.

The grant will be available from September via a Government website, yet to be launched, which will also detail an approved list of suppliers.

What Does The Stamp Duty Cut Mean For Landlords?

The buy to let sector has seen a tremendous amount of change over the past few years in order to help rebalance the property market, with key pieces of legislation such as the Tenant Fees Act and the recent Electrical Safety Standards regulations. The changes to stamp duty will go some way to reigniting the buy-to-let market and offers landlords a tremendous opportunity to make the most of the tax changes.

With the temporary increase on the stamp duty threshold to £500,000 until 31st March next year, first-time buyers and existing homeowners are set to save up to £15,000. For additional and investment properties, stamp duty is also removed up to this value, however the 3% surcharge remains.

Charlotte Nixon, mortgage expert at Quilter, believes that the changes to stamp duty could have the consequence of more investors returning to the market;

“Buy-to-let investors have left the market in their droves over the last few years after tax changes have made it an untenable investment for many. The stamp duty holiday may serve to entice some of these investors back to the market."

“Not only will this cut help to reignite the property market but also improve the supply of rental properties, which has been dwindling over the last 12 months."

Nixon is supported in her opinion by David Whittaker, Chief Executive of Keystone Property Finance who believes;

“The Chancellor’s decision to cut stamp duty will have positive implications for homebuyers across the country and will certainly help to stimulate the housing market. Importantly, this latest cut will also go some way towards providing a much-needed boost for the buy-to-let sector.”

“As a result of this measure, many portfolio landlords across the UK will now be considering new buy-to-let purchases."

The numbers can be useful to bare out the extent of the potential savings for landlords looking to increase their portfolios – before the stamp duty holiday was introduced you would have paid £26,000 in stamp duty but now that is reduced almost by half to £13,500.

If you are thinking of investing in an additional property or looking to increase your property portfolio, then making the most of the stamp duty holiday is advised – contact us today to see how we can help you.

Five Ways To Refresh Your Outdoor Space

Outdoor space has rarely been so prized as it is now, with searches for properties with gardens and patios now much higher than prior to the lockdown period. We have put together five simple and inexpensive ways that you can perk up your outdoor space, no matter how much (or indeed how little) you may have available.

Create Specific Areas

An effective way to transform your outdoor space is to create specific areas within your available area. Creating a seating area with screens, a bedding area with planters and adding hanging baskets further down your garden will create real depth as well as encouraging the use of these spaces. If you have less space available, think about using furniture which can be also be used as storage as well as items which can be folded away or stacked.

Lighting

Investing in lighting for your outdoor area will not only make it more attractive when the evenings set in, it will also encourage you to embrace the outdoors even when it is a little darker. Solar lighting is an affordable, effective and fuss-free way to add some ambience to your garden, patio, balcony or outdoor space – solar nets are particularly effective as the lights can be weaved through a trellis or on a fence.

Pots and Planters

If your outdoor space is a small patio or balcony area then using pots and planters is a great way to add some fresh flowers and foliage, making your space much more inviting. If your property is rented, then pots and planters are also really useful as you can take them with you when you move to a new property and you do not need to dig up a garden which could cause potential disputes. If you have more space available, add some hanging baskets to create different levels of interest across your garden.

Accessories

Although investing in soft furnishings and accessories can be a more pricey way to refresh your outdoor space, because the items are intended for outdoor use they tend to last longer and so can be a worthwhile investment. Bright pops of colour can be added to any size of space with cushions, beanbags, throws and adding candles to table areas will take your outdoor space to the next level.

Planting

Very few things will bring the outdoors to life as much as fresh plants and flowers – over the span of summer they also work out to being fairly inexpensive. Lavender is a particularly good option due to its hard-wearing nature and the gentle scent that is emitted. You can also purchase bedding packs of plants from most supermarkets and DIY stores, making them easy to find and inexpensive.

Are you asking these questions when you buy or sell?

A recent study has revealed the 'most dreaded' and unusual questions buyers have asked about a property before putting in an offer.

With a small minority asking whether the pets come included in the sale, it’s fair to say that not all of the responses are winners.

However, the report by Hillarys has shed light on just how many Brits lack proper preparation during the home buying process.

Up to two-thirds will not plan their questions ahead of a house viewing, meaning they are not getting the full value out of the experience, as well as potentially wasting an opportunity to find out all of the property’s pros and cons earlier on.

The most dreaded questions from buyers:

Has it dropped in value?	54%
What local plans could affect us?	42%
What’s the lowest price we could get it for?	33%
Is the seller in a chain?	21%

To help you make the most of your viewings the next time you decide to buy or sell, we thought we'd share practical suggestions for you to consider.

What are some of the more serious questions you should be asking?

Whether you're instructing an agent or viewing a property, how prepared you are will determine how quickly you're able to move.

Are you asking these key questions:

1. Exactly what is included in the sale? Whilst it's safe to assume most sellers will want to keep their pets, it's important to outline what content might be included, such as fixtures, fittings and garden furniture.

2. How long has it been on the market and how many offers have they received so far?

3. When are the sellers looking to move out? Knowing whether they've already found another home or they're still in the midst of looking will help you to determine how long the process may take and how much room for uncertainty there is.

4. Have there been recent renovations or any difficulties with boilers, drains and guttering?

5. How did the agent decide on an asking price? Good agents will be able to provide justifications for the value of a property, so you'll know whether it's listed at the right amount or if it's overpriced.

What to ask when selling:

1. How will you market my property? Are they regularly contacting a database of suitable applicants to give you greater market exposure, or does their strategy start and end with a basic Rightmove listing?

2. What are your success metrics and how do they compare to other agents? In other words, what's their experience selling a home like yours at a price like yours?

3. How much will you charge? Choosing the agent who offers the lowest fees won't guarantee you reach asking price and you may lose time and money on the market, be savvy when you instruct representation for your property investments.

4. What are the contract terms? Before beginning any contractual relationship, know exactly what it is you should expect from them.

If you're thinking of selling and want to find out the value of your home, contact us .

Property market surges post-lockdown

Ever since its announcement, the government’s stamp duty holiday has sparked a surge in activity across the country’s property market.

Now, as we head into a new season, we’re seeing 61% increased demand compared to the same time last year – according to Rightmove.

The South East and East of England are the UK’s highest market performers, each up by 70% individually, but across all regions growth in demand is said to be outstripping supply.

Whilst this puts homeowners in an advantageous position with their next sale, it’s not expected to last for much longer, with new listings gradually climbing up as well.

Areas along the southern commuter belt have seen new properties double when compared to the same six-week period in 2019, including for Harlow in Essex, Hertford, Wickford, St Albans and East Grinstead.

An interesting development post-lockdown is the effect of changing buyer priorities on the market, with Zoopla reporting that larger homes are being snapped up the fastest.

Four and five-bed homes are selling in record time at 27 days, which is 31% lower than the same period last year and an obvious response to Brits needing more space coming out of lockdown.

Three-bed properties continue to be the market’s fastest selling property type, taking just over three weeks, on average.

Commenting on these market findings, Rightmove property expert – Miles Shipside – says: “We always knew that the stamp duty holiday was going to be a big incentive for people to get moving this year, and it’s certainly sparked a home-moving frenzy.

“Thousands of sellers are being tempted to come to market for a number of reasons. Firstly, lots of buyers stand to make pretty sizeable savings thanks to the stamp duty holiday – particularly in the southern commuter belt – so now seems as good a time as any to press ahead with home-moving plans.

“We’re also seeing a growing trend of people looking to move out of urban areas and into smaller towns, with homeowners in built-up areas reassessing their housing needs and looking for places with more outside space.

“Lastly, proximity to a station doesn’t seem to be as important as it once was, meaning sellers in these commuter towns are looking to move a little further afield as working from home becomes a more permanent way of life.”

If you’re looking to sell or buy in 2020, get an instant valuation today >

The eviction ban extension for tenants and landlords

In a move that was intended to “support renters over winter”, Housing Secretary – Robert Jenrick – announced key changes to regulations surrounding tenancy evictions.

The ban on evictions, which has now been extended until the 20th of September, will mark a six-month period in which no tenant has been legally evicted at the height of the pandemic.

From September 21st, it will be a requirement for landlords to provide information on a renter’s financial circumstances in relation to the coronavirus when making possession claims regarding rent arrears.

Alongside this, landlords will now need to provide a notice period of six months when seeking possession of their property. This will apply up to March 2021.

With courts prioritising hearings based on the severity of each individual case, coming to an agreed solution with your tenants would be the preferred approach to take, where rent payments are not being met.

Of course, exceptions have been outlined for the following instances:

• Anti-social behaviour – four weeks’ notice
• Domestic violence – two weeks’ notice
• Rent arrears totalling six months – four weeks’ notice

Could there be a better solution?

Given that the vast majority of private landlords (94%) are renting just one or two properties, this could have significant consequences on income revenue for these individuals.

In a recent letter to the Prime Minister, the National Residential Landlords Association have called for reconsiderations to be made to protect the private rented sector and enable landlords to keep offering accommodation to UK renters.

They wrote that: “failure to provide any direct financial support for the sector during the pandemic means that many landlords will be forced to seek money claims against renters building arrears. This would leave tenants' credit scores in tatters.”

The NRLA put forward the argument that the only way to untangle the conflict with COVID-19 related rent arrears is to offer interest-free, government-guaranteed hardship loans to tenants.

As this has already been introduced in Wales, the NRLA argue that it would be the best solution to “sustain tenancies and remove any risk of eviction as furlough is removed”.

We're doing our utmost to protect and support our landlords and tenants at this time, contact us for more information on how we can help you.

Managing the rental bounce and electrical checks

Since June this year, it has been made a legal requirement that an EICR report must be carried out before any new tenancies begin, with electrical installation inspections conducted at least every five years from that point.

With the surge in demand for rental properties set to increase even more than what we’ve experienced this summer, property certificate providers say landlords need to be prepared to deal with the influx in demand.

Following the reopening of the property market back in May, there has been a surge in demand from tenants. This growth in activity looks like it is going to continue to develop, as there have been sustained positive reports throughout June, July and August.

A recent survey from RICS found that tenant demand has recovered to +35% in July, bouncing back from -44% the previous quarter. Meanwhile other research found that the number of tenants registering with letting agencies reached a record high in June!

Almost three in ten letting agents saw landlords increasing the cost of rent in June as a result from the high demands.

With landlords processing a higher number of tenancies, this also means more administration work needing to be carried out with new and challenging compliance measures to meet.

The most recent change affecting new tenancies is the introduction of The Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020 on July 1st.

There are a range of other things for landlords to follow, including providing copies of EICR reports to their new tenants.

We would recommend having access to a large pool of electricians, as this is going to be crucial to meet the high demand. An efficient online management system would also help landlords keep organised and up-to-date with each tenant.

Mandatory electrical checks have been introduced for a reason and it is to ultimately to protect your tenants and your investments. Managing this process through trusted suppliers and using highly qualified electricians is in the interest of all stakeholders.

If you’d like to talk to us about your compliance, contact us today.

What to do if your home is not selling

Each sale experience is different from the last, so it's important not to be alarmed or lose heart if you come across any unexpected delays during the process.

By choosing a local agent, you'll have someone by your side to guide you through each step, and offer their expert insight on navigating the market in the best timeframe possible.

To offer our guidance, here are certain contributing factors that you can do to help speed things along, including the following top tips:

Know the market

The more informed you are about the property market and the current value of your home, the more informed you will be about your own sale and chances of success.

When consulting an estate agent during a valuation, make sure you are fully prepared and receive all of the information you need to make the right decision.

How are they planning to market your property to increase marketing exposure? What timeframes would be realistic to sell your home? Is the valuation figure you've been provided achievable?

Having strong local ties can be a really important benefit when selecting someone to sell your house, as they will often have the resources to target local buyers, as well as a sizeable database of contacts to connect with your home.

Seal the deal

One way to avoid unnecessary delays is to handle your finances and approach mortgage advisors and solicitors ahead of time, so that when you are ready to make or accept any offers, you can close on those deals with minimal hassle.

Fix up your home

Whilst some buyers are specifically looking for their next renovation project, the majority would prefer to move in to a home that's ready to be lived in immediately, without the stress of completing repairs or changes.

If you're able to complete any work on your house, this will reduce the number of faults that are potentially picked up by buyers viewing your property, which could also reduce the number of offers being put in below the asking price.

Stage your home

Effective property staging is one of the most important ways you can attract more interest.

This involves making your home look 'show home ready' and essentially presenting viewers with a blank canvass to fill with their own style and character.

A well-staged property will show off how much space your home has to offer, with your own personal belongings hidden from view.

Whilst it can be difficult to predict how your home will perform on the market, an informed local agent will be able to guide you on what to expect, with a realistic timeframe and a plan of action – should your sale take longer than you'd hoped.

For more information, speak to our team today.

Tips to create a home office without losing an entire room

The verdict is in, working from home is here to stay!

Government guidelines state that employees need to work from home, where able, over the course of the second national lockdown.

However, when asked, over half of respondents claimed that they would continue to work from home on a permanent basis. Out of those who did not wish to work from home permanently, the majority blame the lack of a home office to operate from.

So, how can you create a working space if you don’t have a whole room available?

Share space – Look at areas around your home where you can make a room multi-purpose, with the addition of a desk and chair in your spare room, kitchen, living room or dining room.

This will not only use up wasted floor space but offers a practical solution. It is also a great way to prioritise your home décor pieces.

For example, if you are lucky enough to have a spare room, a large double bed that is rarely used can be replaced with a sofa bed.

Re-purpose furniture – If you have an unused piece of furniture, such as a dressing table, you can re-purpose them into a sizeable desk space.

This option is not only eco-friendly and cost effective, but super easy, as you can simply transform the current location of the furniture into your office zone.

Our top tips for creating a cosy yet productive home office space is to position yourself away from any distractions like windows, and use plants and candles for a more homely feel.

Staircase solutions – The area under the stairs is often overlooked, so this can be a great solution to needing a home office.

Ideally, an open staircase without risers is best for this hack, but this can be adapted depending on the space you have to work with. The area under the stairs is notoriously dark, so good lighting is key here – this can be yellow or white light, depending on the vibe you wish to create.

If you want to go all out, bespoke built-in office spaces are a great way to utilise the entire area.

Cupboard office – This revolutionary workspace solution, nicknamed a ‘cloffice’, is a great alternative to a clunky desk in the middle of a room.

To create this, use a spare wardrobe or large cupboard – this works even better with built-in furniture.

Use shelving to create an area to hold your computer and files, and decorate to your taste. The best part about this hack, is that you can close the doors on your home office after your work is done for the day. Perfect to help maintain a healthy work-life balance.

Utilise outdoor space – If you’re lucky enough to have a summer house or garage, these can be transformed into a dedicated home office.

Summer house solutions are great for the winter. Just add a heater and invest in a secure locking system to keep your items safe, and you’re good to go!

For a garage, this may be slightly more expensive, but will work all year round. To start, cover the concrete floor with rugs or a fitted carpet to warm up the space and pay attention to the walls, as these may need insulation.

To find out what properties have recently come onto the market in your area, contact us today.

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.

What buyers really look for when they are viewing your home

In their recent study, comparethemarket.com uncovered some interesting research on the property market to help sellers and their agents understand exactly what stands out to UK homebuyers.

Using eye tracking technology, they were able to precisely monitor engagement during viewings, which establishes whether the core USPs you think your home possesses truly matter to potential buyers.

Here are some things you might want to consider.

Radiators. As we approach winter, it will be high on people’s priority lists to check if there is cost-effective and efficient heating throughout the house.

If you have viewings booked, consider turning on your heating before they arrive; not only to ensure a warm, cosy environment but as a way of showcasing your radiators are fully functional.

Access to the garden. Not having easy access to a garden can be off-putting to buyers – especially after the year we have had.

For this reason, a lot of people are now looking for homes with extra outdoor space, so make sure the garden is accessible and well presented.

Water pressure. Another thing that people do when viewing the kitchen is turning on the tap to check for any faults with your water pressure and / or plumbing.

Is your water pressure to normal standards or do you need to have your plumber look it over?

As a key room for homeowners, potential buyers are extra vigilant in this section of the property, meaning it’s important to keep your tap limescale free and wiped down with baby oil for an added shiny finish.

Cupboard doors. Another thing viewers look out for when in the kitchen is the quality of the cupboards.

Replacing items in the kitchen usually comes with a hefty price tag, which can be a big factor for buyers. Make sure your cupboard doors are screwed on tightly and wiped down.

The oven. Viewers tend to look at the oven to see if it is operational.

Make sure it is clean and avoid cooking anything too smelly before the viewing takes place. Ensure the hobs and trays are as clean as possible too!

Following their study, Head of Mortgages at comparethemarket.com – Mark Gordon – commented: “UK house prices are currently on the up and with the stamp duty holiday prompting more buyers to get on the property market, it’s a competitive time for homeowners looking to sell their home.

“We conducted this experiment to determine the areas of the home that buyers look at most to help sellers maximise their chances of a sale. Some sellers may not have considered these factors when preparing their homes for viewings, so we hope our insight will help them focus on the areas they should check and freshen up.”

If you need help selling or buying this autumn, talk to us as your local property experts – book your valuation today.

Please note: when organising viewings this November, please help your agent by adhering to the latest government guidance, which includes remaining outside of the property for the duration, disinfecting any common touch points like door handles, and making sure to limit contact.

What impact has COVID-19 had for landlords?

Since the pandemic hit the UK earlier this year, landlords and tenants have felt the financial strain.

Here's how the latest developments are expected to impact the property market this autumn.

With the government's furlough scheme extended in line with the introduction of the second national lockdown, offering 80% of an employee's salary, it's thought that many will benefit from this respite over November.

However, with the future still largely unknown, it's understandably a stressful time for tenants unable to continue paying their rent and landlords who have seen reductions in their income.

Between March and August this year, ONS estimate that the number of workers on a payroll decreased by a worrying 695,000.

One of the hardest-hit groups is the under-24s, with 156,000 fewer individuals of this age in employment compared to just three months ago.*

Comparatively with homeownership in the UK, recent research has found that 92% of homeowners are confident they could continue to meet their mortgage repayments in the next six months, whereas the same could only be said for 81% of tenants about upcoming rent.

Up to 12 million Brits will struggle with rent and bill payments in light of COVID-19 and its continuing economic fallout.**

Whilst the government have extended the mortgage holiday for struggling homeowners and landlords by a further six months, it's advised to speak with your lender directly and to only consider this as a last resort.

During this holiday, interest will still accrue, which could add a significant amount for you to pay off after it has run its course.

If you need professional advice on any of the contents covered here, please contact our team.

*Source: BBC News

**Source: The Financial Conduct Authority

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