The latest news from Andrew Craig




<span style="font-family: Arial, Helvetica; font-size: 18px;">Housing supply starts to improve</span>

 
This month, property search portal OnTheMarket published its Property Sentiment Index, offering insights into how things might be changing. According to the report, the number of sale listings is rising, slightly dampening the issue of supply.
 
In addition, strong market growth over the past two years means that 82% of buyers still believe they can achieve a completion within three months. Along with the promise of moving in time for summer, this confidence is further driving homeowners to list their properties for sale. *
 
However, due to an inherent lack of housing stock nationwide, prices are unlikely to drop dramatically any time soon. Instead, buyers should look for the coming window of opportunity as the market settles to an ‘elevated version of the pre-pandemic market’.*
 
Looking to buy? Browse our available properties here.
 
*OnTheMarket



<span style="font-size: 18px; font-family: Arial, Helvetica;">Get financially fit before your first property purchase</span>

By clarifying your financial position before buying a home, you can improve your chances of securing a mortgage while granting yourself a little peace of mind. Here are three tips to get you started:
 
1) Determine a workable budget
 
Identifying how your income compares to your spending will allow you to estimate the size of the mortgage you can realistically afford. Start by creating a simple spreadsheet listing fixed costs such as rent, repayments, subscriptions and council tax, and averages for other bills. Don’t forget yearly expenses like annually renewing memberships, holidays, and general house and vehicle maintenance.
 
Once you can see how your monthly outgoings match up to your income, you’ll know what you can afford to pay towards a mortgage. You can also use an online mortgage calculator or talk to a mortgage advisor to identify ways to give yourself more wiggle room.
 
2) Create a savings target
 
Now that you have your budget in hand, it’s time to set a realistic savings goal for a deposit or to give yourself a buffer to cope with the cost of moving. Use your spreadsheet to find ways you can reduce expenditure. Possible solutions include swapping energy suppliers, cutting out luxuries and unnecessary subscriptions, or postponing holidays.
 
There are some less painful ways to save, too. For example, government-backed Lifetime ISAs offer first-time buyers the chance to top up their savings by 25% each year, up to £1,000. Alternatively, many banks allow you to round up all your purchases to the nearest pound and transfer the difference into a savings account.
 
3) Deal with bad credit
 
Before applying for a mortgage, check your credit rating with a reputable agency like Experian or Equifax. If you spot any errors, get them fixed as soon as possible. Lenders will use your credit rating to determine if and how much you can borrow, so correcting mistakes is a crucial step toward financial fitness.
 
Our friendly team can help you find the perfect home within your budget. Just contact us to chat about your requirements.



<span style="font-family: Arial, Helvetica; font-size: 18px;">Make your summer house move stress-free with children</span>

 

Even if you've discovered your dream home in the ideal location, the process may be stressful, especially if you're relocating with children. 

Whether it's for a new career opportunity, to be closer to family, or to make a necessary lifestyle adjustment, uprooting your life may make sense to you. Your children, on the other hand, may not be as understanding, as everything they know and are used to is about to change. You can use a few tricks to make the transition go as smoothly as possible. 

 

As soon as possible, inform your children 

 

According to some parenting experts, you should tell your children as soon as possible. It may be difficult to remain a secret for long, as you will almost certainly have possible buyers coming in and out of your home, and your children will notice something is different. You don't want to keep anything from them because it will just add to your stress level, so inform them as soon as possible to make them feel included. Include them and make it more exciting by allowing them to help choose the new house and plan what they want to take with them if they're up for it.

  

Allow them to be emotional 

 

It may be difficult to watch, but when your children scream or throw tantrums, remember that this is a normal reaction and that you should allow them to be upset. Their entire lives are changing, and the relocation may be separating them from friends, cherished family members such as grandparents, or a childminder they've known since childhood. Instead of becoming furious, try to understand why they aren't accepting the changes immediately. Each child is unique and adjusts to change at their own rate, but it often takes six months for children to adjust to their new life in a new place. 

 

Talk about what will remain the same 

 

The stress of so much change might be difficult for your children. Rather than focusing on what will be changing, remind them of what will remain the same. Their bedrooms may differ, but their possessions will be identical. Even if their schools are different, all of their after-school activities will remain the same. It may be difficult for them to focus on the similarities, so try your best to remind them as much as possible. 

 

Stick to old routines 

 

Just because you've moved to a new location doesn't mean you should abandon your old habits. Remember that you need to keep certain pieces of your previous life constant for your children to adjust, and keeping at-home routines running is a terrific way to do so. If kids have certain after-school rituals, try to stick to them as closely as possible, even if some things change. 

 

Prepare everyone 

 

Don't be caught off guard when it comes to moving day! Starting the moving process as soon as possible will help you avoid a last-minute rush to pack and clean. It's a good idea to prepare an overnight bag for everyone for both the last night in your old home and the first night in your new one, so you don't have to unpack right away after a long day. 

 

Allow your children to express themselves 

 

Allowing your children to participate in the entire moving and packing process will provide them with a sense of stability and control over the changes in their surroundings. Ask about their thoughts on topics such as what to pack and how to decorate their new rooms! 

 

Contact our friendly team for useful guidance on all areas of moving home, and we will be happy to assist. 



<span style="font-family: Arial, Helvetica; font-size: 18px;">Ten steps to finding your perfect home</span>

If you are searching for a home, you will want to follow these steps to help you along the way.
 
1. Set a sensible budget
 
To help set a sensible budget, it can help to involve a specialist mortgage advisor at this early stage. Decide on a monthly mortgage repayment which is affordable for you, allowing for this to increase in line with interest rates. Then consider how much you can afford to put down as a deposit. With these figures in mind, work out how much you would like to borrow and establish a price range for your property search.
 
2. Get your paperwork in order
 
One of the most common mistakes buyers make is not getting a mortgage agreement in principle. If you are looking to purchase a new house with a mortgage, this can be a useful step in your search.
 
3. Decide on your deal-breakers
 
With your budget in mind, decide on your deal-breakers. Determine what you need from your home – location, number of bedrooms, outside space and parking. Then make a list of things you would like, but are not essential. Decide what you are willing to compromise on and what you are not.
 
4. List your existing home
 
If you need to sell your existing home, it can be a good idea to list it on the market before you start the search for a new one. This will make you more appealing to prospective sellers and could avoid some of the delays associated with being in a chain.
 
5. Start the search
 
In addition to using the popular property portals, register your interest with your local estate agent. Give as much information to your agent about your budget, timeframe for moving, requirement to sell before buying and your dealbreakers.
 
6. Think ahead
 
Think about what might be important to you in the coming years. If you plan to start a family, for example, consider the availability of local nurseries. Look for good local schools and place yourself well within their catchment areas. If you are approaching retirement, it may be worth considering single-storey living, as well as looking at the proximity of local transport and facilities like shops and GP surgeries.
 
7. Maximise each viewing
 
When you look at a prospective new home, look carefully and thoroughly. Imagine yourself living in the home, visualise how you would use each room and whether the layout of the house would work for you. Keep an open mind and think about a property’s potential, looking beyond the current décor and the seller’s furniture.
 
8. Consider the surroundings
 
It may be a cliché but, when it comes to buying, think ‘location, location, location’. Will you feel comfortable in the area, and does it have everything you need?
 
9. Choose head over heart
 
Buying a house can be a really emotional process for many of us. Avoid being swept away by a property you fall in love with, but which is outside your budget or falls short of your dealbreaker list.
 
10. Take your time, but not too much time!
 
Making rash decisions and rushing are things to avoid when buying a new home. Equally, leaving it too long to take action may mean you miss out.
 
If you are looking for your perfect home, check out our latest listings.



<span style="font-family: Arial, Helvetica; font-size: 18px;">What makes the perfect tenant? </span>

Having a positive relationship with your landlord is important when renting a property. But what are the best qualities to have as a tenant.
 
One of the most important things to consider is your payment. Rent should be paid on time every month, and you should pay in full whenever the rent is due.
 
If there comes a point when you can’t pay, you should stay in touch with your landlord so it can be resolved.
 
Three more tips to help you become the perfect tenant:
 
Check your credit score
Ensure you are financially responsible by getting a credit check. If you are responsible when paying bills, the chances are, a landlord will trust you to pay your rent on time too!
 
Get a reference
A reference check gives your landlord a good idea about whether you will be a suitable tenant.
This will provide key information on your employment history and ability to pay rent, as well as any previous dealings you have had with other landlords.
 
Meet potential landlords
It’s important you have a good relationship with your landlord, so meeting them is essential. Furthermore, it’s a great opportunity to ask any important questions face-to-face.
 
Take a look at our available rental properties and find your next place to call home.



<span style="font-family: Arial, Helvetica; font-size: 18px;">Will the property market slow down?</span>

 
The last few years have seen a sharp hike in house prices across the country, but can this rise be sustained? While recent data from the Land Registry shows house prices were up by 12% since April last year, some believe we’re heading towards a slowdown.
 
So, what’s going on? While the market spiked in 2021 thanks to the well-publicised stamp duty holiday – fuelling sales as buyers rushed to save significant sums of money – it calmed over the winter of 2021 before slowly rising again across the UK.*
 
However, in May this year, the number of sales returned to levels seen just before the onset of the pandemic. But what has driven this reversal?
 
The cost of living crisis appears to be playing its part by straining household budgets. Combine this with rising house prices and mortgage interest rates, and you have a recipe for dampening buyers’ spending power.
 
This doesn’t necessarily mean prices will fall dramatically. Big names across the industry – such as Propertymark and Rightmove – are still reporting a mismatch between demand and supply, which is keeping prices buoyant for now. All in all, experts predict that prices may only increase by between 1–5% over the next year or two.**
 
What does this mean if you’re planning to sell? The good news for homeowners is that no one expects prices to plunge over the medium to long-term. But if you’re hoping to maximise your sale price, striking while the iron’s hot may pay off.
 
Our team is ready to provide tailored advice that reflects your unique situation. Contact us today to discuss your options and book a valuation.
 
 
*Based on data provided by HMRC (June 2022).
**Predictions provided by Rightmove, Zoopla
 



<span style="font-family: Arial, Helvetica; font-size: 18px;">How to improve your home's EPC rating</span>

 
Upgrading your property to become more energy-efficient can make long-term financial sense in terms of reducing bills. But it’s also important if you’re planning to rent out your home in the future. That’s because new legislation means that landlords will only be allowed to let properties with an EPC rating of C or above from 31st December 2025.
 
Of course, an energy-efficient home will reduce you or your tenants’ carbon footprint – a win for the environment too. If you don’t already have an EPC rating, you can arrange for an accredited energy assessor to calculate your energy usage per square meter.
 
They’ll consider a range of factors, including your boiler’s efficiency, the type of heating system you use, and the quality of your insulation. The amount of money you’ll need to invest may depend on the condition of your home. For example, while the average UK dwelling is rated D, new builds are 60% more efficient on average than older houses.
 
If your property has limited insulation, this is a great place to begin. Filling your wall cavities – which only takes a few hours – can reduce heat wastage by 35%, while insulating your loft can prevent a quarter of your heating from leaking through the roof.
 
Spending extra money now on a modern boiler and installing double or triple glazing can also make a difference to your bills. Cheaper options include sealing off gaps around your doors, windows, and floorboards, and replacing your bulbs with low-energy alternatives.
 
Worried about financing the improvements? Under the Boiler Upgrade Scheme, you could get £5,000 towards buying and installing an air source heat pump or biomass boiler. The Energy Company Obligation scheme will also pay for new boilers, glazing and insulation if you’re on qualifying benefits, such as Universal Credits.
 
In case you’re wondering, a high EPC rating can improve the value of your property – whether you’re intending to sell or let.
 
Whatever your situation, we’re always on hand to offer advice. Contact us today to discuss your EPC or book a valuation.
 
 



<span style="font-family: Arial, Helvetica; font-size: 18px;">More landlords are needed to help tenants find homes</span>

 
You may have heard how well the sales market has performed over the past couple of years, pushing prices up 12.4% nationally*. The rental market has followed hot on the heels of this trend, with around three tenants currently vying for each property.**
 
Compared to the previous year, the number of available rental homes has dropped by 9%, which has nudged up the average price by £150 per calendar month.*** This means tenants now pay around £1,088 outside of London or £2,193 PCM in the capital.
 
But what’s driving this steep increase in demand? There are several factors involved. Rising house prices may force tenants to rent for longer than planned, meaning fewer homes are circulating on the market. Almost a fifth of landlords report tenants are staying put for longer than in previous years.****
 
In addition, concern over upcoming rental reforms has prompted some landlords to take their properties off the market. Dwindling stock further encourages tenants to remain in their current rental while they search for somewhere else to live.
 
The fallout from the pandemic has also muddied the waters, with many people choosing to move back to urban centres or escape to the country to work remotely. The latter is partly responsible for the intense pressures faced by tenants in popular rural hotspots.
 
Without more landlords joining the market to ease supply, many people may be forced to stay in unsuitable accommodation, leave their local areas, or even risk homelessness.
 
The good news is that if you have a property to spare, now is a great time to get involved and reap the long-term rewards a solid rental income can provide. This is especially true if you’re letting in areas recently boosted by the Elizabeth Line or where supply is strained.
 
Curious about how much your rental property is worth in the current market? Our friendly team is ready and waiting to book your lettings valuation.
 
 
*UK House Price Index (ONS: April 2022).
**According to a recent report by Property Reporter
***Data from TwentyCI and Rightmove (early 2021 to early 2022).
****Property Reporter (June 2022)
 
 



<span style="font-family: Arial, Helvetica; font-size: 18px;"><span class="TextRun Highlight SCXW73714300 BCX0" lang="EN-GB" style="font-weight: bold;" xml:lang="EN-GB" data-contrast="none"><span class="NormalTextRun SCXW73714300 BCX0" style="font-weight: bold;">Lower interest rates for high EPC</span><span class="NormalTextRun SCXW73714300 BCX0" style="font-weight: bold;">-</span><span class="NormalTextRun SCXW73714300 BCX0" style="font-weight: bold;">rated properties</span></span><span class="EOP SCXW73714300 BCX0" style="font-weight: bold;" data-ccp-props="{}"> </span></span>

 
The Real Estate Finance division of Secure Trust Bank has launched a new funding initiative to encourage investment in energy-efficient homes. The new Green Investment Loan is welcome news to property investors facing pressure from the Government’s plans to raise energy efficiency standards in homes across the nation.
 
But how does the loan work, and who will it benefit? Firstly, it’s only available to those planning to buy or refinance a residential property. The property in question must also feature an Energy Performance Certificate (EPC) rating of A–C for 90% of its floor area.

 

In return, the Secure Bank Trust will lend between £2–65m at a lower interest rate of 2.95% over the Bank of England, amounting to a Loan to Value (LTV) rate of up to 60%. This rate can rise to 3.1% for an LTV of 65%.

 

When the scheme first opened, it achieved £150m of investment for 525 energy-efficient properties over a six-month period. The STB is once again hoping to make raising EPC ratings a more profitable enterprise for everyone involved.

 

Many buy-to-let mortgage providers are also falling in line by offering more competitive rates for landlords looking to invest in efficient homes. This is ideal if you’re thinking about building your property portfolio or improving your home with a view to rent or sell.

 

Our specialist team can advise you about local investment opportunities and how to increase your property’s EPC rating. Get in touch with us today.

 

 



<span style="font-family: Arial, Helvetica; font-weight: bold; font-size: 18px;">Best things to do in the summer</span>

Summer is here! National Trust have a great guide for things to do this summer to keep your little one busy.
 
 
Looking for a fun family day out? Click here to find your closest National Trust location.

Click here to read <span style="font-family: Arial, Helvetica; font-weight: bold; font-size: 18px;">Best things to do in the summer</span>.




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