December 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 answering all your stamp duty and mortgage holiday questions.

Further into our newsletter we take a look at what drives increased buyer and tenant interest this festive season, before exploring EPC rules and what they mean for both tenants and landlords.

To end our newsletter, we share with you some top of our ways to cut the cost of home insurance during this festive period- 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.

Your stamp duty and mortgage holiday questions answered

As we emerge from the country's second lockdown and pick back up with the tier restrictions, we're seeing yet more reports of possible job cuts and unemployment concerns up and down the country.

If you have questions about your mortgage, we'd like to help guide you.

Earlier this year, the introduction of the government's three-month mortgage scheme saw a huge uptake, with lenders granting as many as 2.5 million payment holidays.*

Now that they've extended it, with a deadline for deferral applications at the end of January 2021, it's possible once again for homeowners and landlords to obtain financial support.

If I apply for a mortgage holiday, will it impact my credit?

The Financial Conduct Authority (FCA) have publicly confirmed that requesting a six-month mortgage holiday or extension will not negatively impact your credit.

If, however, it comes to the end of the six months and a customer is still in an unstable financial situation, they are advised by the FCA to seek support from their lender.

At this point, a tailored support plan will need to be arranged, which could show up on your credit file.

Although this is a viable lifeline, it is in the borrower's best interests to only use this scheme if absolutely necessary, as you will accrue interest without making any payments for the duration of the mortgage holiday.

What's next for the property market?

With the stamp duty deadline looming, there has been a crying demand for the government to commit to an extension beyond March 31st 2021.

Thousands of property sales are currently moving through the various homebuying stages, with sellers, buyers and property investors keen to make the cut.

As we're seeing such high demand, there have been inevitable delays from conveyancers, lenders and other industry professionals depended on to reach completion.

It's imperative at this time to remain level-headed, to prepare any necessary paperwork to expediate the process, and to keep in regular contact with your agent.

If in doubt about your mortgage options, you should consult your lender directly, as they will provide further clarification on what is right for your personal situation.

To speak with our agents, contact us from our website this December.

*Source: Homes & Property

New year, new buyers

While Christmas is the time for overindulging, spending time with family and watching all the classics, it's also a really reflective season.

After the festivities have wound down, we've always found a renewed interest from homeowners and tenants in the days following New Year's Eve, with enquiries and property searches at an all-time high.

We've all spent more time than ever at home this year, so when everyone's gathered around the Christmas tree, you might find yourself planning what your next Christmas could look like and whether you'd choose to spend it living elsewhere.

Whilst it's commonly believed that spring and summer see the strongest market activity, year-after-year January has stood out as a time when online searches peak and more people are ready to make and accept offers in a fast timeframe.

Who chooses to move at this time of the year?

The new year property market usually consists of two types of people: first-time buyers and those re-entering the market after trying in the previous year.

In the spring and summer, the market typically becomes much more competitive, with higher supply levels.

If you want to consider a fresh start in 2021 with a new place to call home, it's actually a really good idea to start the process now so you can instruct your agent, plan your property marketing strategy and be ready for the expected surge in buyer interest.

Whilst we all hoped the pandemic would be contained within 2020, it's now a confirmed reality that nothing will change when the clock strikes midnight on New Year's Eve.

For that reason, we're committed to continuing all of the safe measures and social distancing practices we've implemented this year.

To beat the crowd and make your home extremely visible on the property market over the peak holiday period, contact our agency today – visit our website for more information.

The EPC rules and what they mean for tenants and landlords

Introduced earlier this year, revisions to the Minimum Energy Efficiency Standards (MEES) on rental properties have meant that landlords are unable to let a flat or house with an EPC (Energy Performance Certificate) rating below an E.

In the years to come, we may even see further changes to this requirement, with plans to raise the bar to band C by 2025.

The aim behind this EPC regulation is to reduce bills for lower income households, provide more environmentally-friendly homes for tenants, and improve the quality of landlords' investments.

What does this mean for tenants?

Energy-efficient homes can be a lot more appealing to tenants, as they come hand-in-hand with the promise of lower energy bills and better insulation.

These properties are likely to boast a range of energy-efficient features, including: LED lightbulbs, heating controls, energy-saving appliances, high-performance windows and insulation.

As a landlord, how can I pay for energy efficiency improvements?

Whilst the financial cost of these improvements would normally be the landlord's responsibility, certain grants can provide additional funds and support.

The extension of the Green Homes Grant for another year – for example – offers a really brilliant opportunity for you to make drastic changes to your properties.

Learn more at: https://www.gov.uk/government/news/green-homes-grant-extended-for-

extra-year

What happens if landlords break the rules?

Failure to abide by the regulations could see fines of up to £5,000 for landlords.

With the government's long-term proposal for band C ratings outlining a potential fine of £30,000 in the near future.

Can tenants request energy efficiency improvements?

Yes, tenants have the right to request consent from their landlords to carry out energy efficiency improvements to privately rented properties.

Landlords can only refuse consent if there are compelling reasons to do so, and they should be willing to contribute to bringing their homes up to scratch or improve their ratings on the EPC scale.

How long does an EPC last for rental properties?

EPCs on properties are valid for ten years.

If you are not sure as a landlord when your EPC needs to be renewed, then you can check on the EPC register provided by the government.

The EPC register can also be a good way for tenants to check how energy efficient a property is before thinking about renting it.

If you are a tenant or landlord and want any further information surrounding EPC rules and regulations, please get in contact with us as we will be happy to help.

Ways to cut the cost of home insurance

Home insurance can be tricky to navigate, as there are lots of elements to understand when it comes to finding the right policy and making a claim.

Whilst we're all feeling festive this month, it’s even harder when it comes to protecting your valuables and property over Christmas, given that break-ins and claims skyrocket over the winter period.

Here's what you need to know prior to purchasing home insurance.

Types of cover. To put it simply, contents insurance covers your belongings within the house – such as your sofa, electronic devices and possessions – whereas buildings insurance covers anything stable within the home, like built-in appliances.

It’s crucial to note that if you live in rented accommodation, you shouldn’t need to worry about buildings insurance, as this should be covered by your landlord.

What contents insurance covers. Contents insurance covers your personal belongings against flood, fire damage and theft.

During the merry season, it’s natural to start piling presents under the Christmas tree – even fake ones for decoration! – but even that can showcase the potential valuables in your home to opportunistic burglars.

Where possible, draw your curtains or position your tree and decorations away from doors and windows.

It might seem like you're being over-cautious, but two-thirds of break-ins happen when we're at home, and your Christmas dressings will act as a shop window for the rest of your home.

New for old. As it's the season of giving, you might want to consider which items under the tree will need specialist cover, such as expensive jewellery or equipment and electronics.

When you get contents insurance, it’s beneficial to get ‘new for old’ cover, which simply means if you claim for a three-year old laptop, you’d get a brand new laptop as opposed to the amount it is now worth.

To give yourself peace of mind this Christmas, we'd recommend speaking with an insurance specialist.

If you need further support as a homeowner, landlord or tenant, contact our team today.

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