Home is not just a collection of bricks and mortar, it’s a place that evokes and witnesses a lot of emotion, and this makes it unique amongst all our worldly possessions. The ability to contain our lives and those things that belong to us, such as paintings, memories, and feelings ushered in by the colour schemes of its interior, are some of home’s many special powers. The impact of the location of your home and its surroundings, for an eternity of reasons, from the beautiful countryside to friends, family, or love for a location, is profound.

Excitement
There are few things in life more exciting than moving to a new home. The list of reasons why you are so excited is uniquely yours, and your perfect property will reflect this. From the way you decorate it, to the stuff you own, that tells the story of your life. Your home should make you feel welcome from the moment you see it. Maybe you adore your new kitchen for a thousand reasons, including how it makes you feel. It’s character, the view of the garden, or its modern design.

Desire
This innate human emotion moves us all to act, and finding a home you really want will fill you with the desire to own it. If you view a property and you really like everything about it, and feel that you can improve it, by adding your own creativity, then the chances are you will want to make an offer. Buying the property that adds so much to the quality of your life opens the gateway to so many more positive emotions.

Love
Making the perfect home for your loved ones is one of the most powerful and greatest feelings in the world. Are you in the lucky position of buying a home for a relative to keep them safe or moving to the house for your family to grow? Sharing our lives with a partner in the right home is blissful and intoxicating, and the right property adds to this more than most people realize. You should also love your home; from the little characterful details to the fundamentals, good homes have a built-in power to inspire love.

Happiness
Homes have the uncanny ability to make us feel happy, and they can do this in so many ways. If you feel you have enough space and love the way your home looks and feels, then you are well on your way to creating happy lives within it. Happy memories are priceless, and when you get down to the basics of life, there is not much else that matters quite as much. There is a lot to think about when finding your happy place, from your home’s location to its energy efficiency.

Safety and security
You want to feel safe, secure and satisfied that your home is a sanctuary from the hustle and bustle of the world outside. Relaxation is vital to keep you stress-free so you can think and plan your life clearly. This will allow you to enjoy those special moments that become enhanced by the features of a great home. From a mesmerising outdoor living space to relax in, a cosy fireplace, or a nicely decorated home that makes you feel good.

Discontentment
This can be as powerful as many positive emotions. If you are currently living in a home where you feel trapped because you are tripping over things, that is enough to make you want to move! Maybe it’s time to buy your first home because it’s you who is getting in the way, and you want to enjoy a greater feeling of independence! Are you moving to a better area or a home with a better garden? Maybe you need more bedrooms or have too many and want to buy something smaller.

Do you want a property that makes you feel amazing? Get in touch today.

 

With average rents increasing by 7.5%* in the year to January and better buy-to-let mortgages becoming available, the market is looking good for landlords. With a shortage of properties on the market and a growing number of students and young professionals, landlords are spoiled for choice when it comes to finding tenants.

Know your responsibilities
Whether you are letting to young professionals, students, or both, it’s vital that you understand your responsibilities. Going down the HMO route (house in multiple occupancy) can be very lucrative, but as with any rental property, it’s vital that you know your responsibilities. As an HMO landlord, you will need to ensure that annual gas checks, electrical checks every five years, and fire safety checks are carried out, to mention a few.

Create the right tenancy agreement
It's really important to have a good tenancy agreement in place as a landlord. This will protect you, your property, and your tenants and help prevent disputes. Letting to students or young professionals may require a more flexible approach, and the tenancy agreement you create should reflect this. Students may need fewer amenities; young professionals, on the other hand, may be a better bet if you prefer long-term tenants.

Find good tenants
Good tenants who pay their rent on time, do not damage your property, and don’t behave in an anti-social way are worth hanging on to. With the Renters Reform Bill expected to become legislation later this year, your rights as a landlord will be reinforced thanks to the proposed strengthening of Section 8. Reference checking and rent collection are important, and a well-maintained, nicely decorated property will attract good tenants.

Advantages of renting to young professionals
It’s not unheard of for young professionals and students to rent the same property. As a landlord, you may find that a former student wants to remain living in your property as a young professional. Young professionals, who are seasoned renters, may take better care of your property than students. As they are earning, bills are more likely to be paid on time, and with fewer parties, noise should not become an issue.

Advantages of renting to students
Every rental property is unique, and your decisions are based on many factors. For example, you may choose to rent to students, knowing that noise will not be an issue if your property is located next to other student homes. Other advantages could include lower furnishing costs, potentially higher rental yields, and the fact that students may pay in advance of each semester and could come with guarantors.

Consider using a letting agent
Whether you let to students or young professionals opting to do so via the HMO route or prefer to rent your property out as a single let, using an agent can be a good move. Having their support will protect your investment by staying on the right side of the law. Rent collection, finding referenced good tenants, and even your property's maintenance could be something you no longer need to worry about with a managed letting service.

 

Do you need a good agent to manage your property?
Start by booking a rental valuation

 

HomeLet*

 

Buying a property can be a logistical minefield, and you may stumble across several industry terms that you aren’t familiar with. Whether you’re a first-time buyer, a second stepper or a seasoned homeowner seeking new horizons, use this guide to equip you with all the essential homebuying jargon.

Agreement in principle (AIP)
An agreement in principle is an easy way to find out how much you can afford to borrow to buy a home. You should seek out an AIP before applying for a mortgage, as this will place you in a strong position as a buyer without having to undergo a full credit check.

Building survey
A building survey is an expert inspection of a property’s condition. These can identify any problems with the home to a prospective buyer using a detailed report. This ensures that the buyer won’t uncover any unwanted surprises after moving in.

Chain
A chain is formed when a group of buyers and sellers are linked together because their purchases are reliant on each other’s. If one sale falls through, this can cause a break in the chain, resulting in other sales collapsing subsequentially.

Energy Performance Certificate (EPC)
An EPC measures a property’s energy efficiency by rating it from A (most efficient) to G (least efficient). This certificate is valid for 10 years and an in-date copy is required when selling a home.

Equity
Equity is the amount of your property you own, calculated by the amount you’ve paid off your mortgage plus your deposit.

Fixtures and fittings
Although they sound similar, there is a key distinction between fixtures and fittings. Fixtures are items in a property that are attached or ‘fixed’ to the building. Fittings, however, are items that are not attached to the property, only by screw or nail. There should be an itemised list of what is included in the sale written into your contract, but there’s no harm in offering to pay extra for certain items that aren’t included.

Gazumping and gazundering
Gazumping is a problem for buyers, as this happens when the seller accepts the offer, but later accepts a higher offer from another buyer.

Gazundering occurs when a buyer withdraws their offer and makes a lower one right before completion. This leaves the seller in a difficult position as refusing the lower offer could mean that they need to restart the whole process again with a different buyer.

Land Registry
The Land Registry is a government database containing the registrations of the owners of all property and land in England and Wales. If any important documents regarding a property are missing, this database is usually where they can be recovered from.

Mortgage
A mortgage is a specialist loan used to purchase a property. This loan is paid back over time with interest to the lender. All mortgage repayments made will increase the equity you have in your home. There are varying types of mortgages, each suitable for a specific set of circumstances.

Title deeds
Title deeds are a series of documents which are used as evidence of legal ownership of the property and the history of its ownership. These are required during the conveyancing process so that the ownership of the home can be passed over to the buyer.

Valuation
A property valuation determines the home’s value based on its location, condition, and multiple other factors. Sellers have their property valued before deciding on an asking price, as this prevents overpricing or underselling.

 

Looking for your dream home? Contact us today

 

 

Are you wanting another bathroom or a larger garden? Have you got empty space you’re wanting to escape from? When choosing your next dream home, you can be faced with all sorts of questions, and we want to ensure you are taking a step in the right direction. Both upsizing and downsizing have their own unique set of advantages, and these options cater to different needs and lifestyles.

Everyone will experience upsizing and downsizing throughout their lifetime in the property market, so, let’s discover what’s right for your next property move.

 

Benefits of upsizing

Is Upsizing the Right Move?

Upsizing is one of the most attractive parts of moving houses, as you really feel like you’re finally moving up the property ladder. There are clear advantages when it comes to upsizing, but is it right for you?

 

Additional space

One of the main reasons to upsize your property is for the additional space it includes. There could be a variety of reasons why you need or want this space. This could be led by becoming recently married, wishing to create a family, or desiring a new space for working or certain hobbies. This would create a comfortable living environment for you and your family.

Social life

Having a larger amount of space allows you to host and entertain events, creating an exciting and fulfilling environment around you. This could enhance your social life and mental wellbeing all while creating long-lasting memories within the walls of your new home.

Future investment

Upsizing is an investment, but it is a more financially challenging one. Larger houses get higher in value as time goes on, allowing you to make money over a long period of time. It is very important to ensure you are financially stable before upsizing, as it takes a lot of upkeep and attention to maintain the value of the larger property.

Benefits of downsizing

Simpler lifestyle

The key to downsizing your house is to simplify your way of life. Having a smaller home allows you to focus more on your life outside of your home. Maybe you now have empty space within your home, as all your family have flown the nest and you’re not a homebird anymore, which encouraged you to downsize.

 

Finacial security

69% of homeowners who have downsized in the past said their primary reason was to save money.* Downsizing gives you more financial freedom, as your monthly payments will be reduced. This will also lead to a reduction in the maintenance of a property and its general upkeep, freeing up your time.

Location change

Downsizing could also give you the advantage of moving to a different location for a property, as prices differentiate in different areas, meaning you might have to reduce the size of your property to move to a new location. People assume downsizing is a backwards step when moving along the property ladder, but occasionally it can suit your lifestyle better and should be accepted.

Which one is right for you?

Whether you’re leaning towards upsizing because of the comfort and luxury of moving up the property ladder or you want the simplified life of downsizing, it's key to align the reasons with your lifestyle and determine which one would suit you. Your choice of where to move next should be a personal choice and preference for whatever suits your lifestyle and future.

Whichever home you choose, whether you upsize or downsize, ensure you choose correctly by comparing the advantages of each.

 

 

 

Looking for a home that fits? Contact us today

HomeOwnersAlliance*

It can be challenging to get started as a first-time buyer, but fortunately, there are a number of schemes available that can assist you with the process and help you get on the property ladder. Let’s take a look at five different schemes available to first-time buyers, the main advantages of each of them, and which of them you could be eligible for.

 

The mortgage guarantee scheme

The mortgage guarantee scheme enables first-time buyers to purchase a property with as little as a 5% deposit by encouraging lenders to offer 95% loan-to-value mortgages. This means that 95% of the property’s purchase price can be borrowed. 

The scheme includes a government guarantee, which means that if the buyer defaults on payments, the government will compensate the mortgage lender. It is available to any first-time buyer, as long as the property they are purchasing is worth less than £600,000.

One of the main advantages of the mortgage guarantee scheme is the fact that first-time buyers can enter the market sooner, avoiding years of saving for a deposit. Also, with the government essentially acting as a guarantor, lenders are more willing to offer loans to first-time buyers with smaller deposits, increasing their chances of owning a home.

 

The shared ownership scheme

The shared ownership scheme helps low-income individuals and first-time buyers own a home by enabling them to buy a portion of a property while renting the remaining percentage. Buyers can purchase a share between 10% and 75% and increase their share whenever they are ready to do so.

If you're a first-time buyer with a household income of £80,000 or less (90,000 in London) and can't afford the entire deposit and mortgage payments on a home, you will be considered eligible for shared ownership.

This scheme offers an affordable way for individuals to step onto the property ladder by splitting the cost of purchasing a home, particularly in areas they may otherwise be priced out of. The fact that you can increase your share of ownership by gradually purchasing additional shares in the property allows you to eventually reach full ownership.

 

The lifetime Individual Savings Account (ISA)

A Lifetime ISA helps first-time buyers save for a deposit by topping up their savings account once a year. Buyers can save up to £4,000 per year, and the government adds an additional 25% on top of the amount they save, reducing the amount of time it takes to save up for a first home.

To open a lifetime ISA, you must be aged between 18 and 40, however you can keep topping it up until you’re 50. Help to buy ISA is a very similar scheme to this, but it has been closed to new applicants since 2019. Despite this, anyone who opened a help to buy ISA before this date can continue to use it.

A key benefit of a lifetime ISA is that it’s a tax-free method of growing your savings. It is also a versatile option because the funds can be used to purchase your first home or saved for retirement.

 

The first homes scheme

This scheme offers first-time buyers discounts of 30% to 50% on new-build homes, so long as it is your primary residence. This discount is available on new homes built by a developer and homes that are purchased through an estate agent, which were previously bought through the scheme.

To be eligible for the first homes scheme, you must be aged 18 or over, be a first-time buyer, and be able to secure a mortgage for at least 50% of the home’s value. Like the shared ownership scheme, your household income must be £80,000 or lower (£90,000 in London). Councils may set their own local eligibility criteria, prioritising individuals such as key workers, people who already live in the area, and those on lower incomes.

The main advantage of the first homes scheme is that it gives you the opportunity to purchase a home at a significantly reduced price, which helps with affordability. Also, by prioritising local applicants, some councils ensure individuals can purchase a home in the area they are already familiar with.

 

The help to build equity loan scheme

The help to build equity loan scheme is useful for first-time buyers who are looking to build their own home. This scheme offers a five-year, interest-free loan to supplement a buyer's 5% deposit. The equity loan amount ranges from 5% to 20% of the overall estimated cost.

This scheme is eligible to anyone who is building a home or hiring someone to do so for them. The loan can be used to buy land, convert a commercial property into a residential property, and demolish an existing property to build a new one. It cannot, however, be used to build more than one home, to buy upgrades on your current home, or build a second home.

The help to build equity loan scheme enables buyers to fund their self-build projects while remaining within budget. By building your own home, you have the opportunity to create equity from day one, potentially increasing the value of your property over time.

 

Looking to buy your first home?