Virtual viewings, landlord guidance, and a financial services updates

Welcome to the April edition of the Tristram's monthly newsletter, where we'll be sharing the latest news from the property market to keep you updated.

Firstly this month we share our advice on how to conduct a property viewing from the comfort of your own home. We are offering virtual viewings and valuations, so if you would like to find out more about this please get in touch. Elsewhere in our newsletter you will find a update for landlords in line with new government advice, the current low borrowing rates from financial services, and finally we offer some tips to help you cope self isolating.

We hope that you all stay safe and well during this time.

Comedy Live at The Garage

Friday 28th February

 

Hosted by Funhouse Comedy, Live at The Garage is one of the top comedy nights in Nottinghamshire.

Click here to read Comedy Live at The Garage.

Rushcliffe 10k 2020

Sunday 1st March 

 

A two lap 10k course that you can enter for a morning run or an afternoon run.

Click here to read Rushcliffe 10k 2020.

The Limelight Orchestra

Sunday 8th March 

 

Join the Limelight Orchestra in the celebration of International Women's Day.

Click here to read The Limelight Orchestra.

Conducting A Property Viewing From The Comfort Of Your Own Home

 

In order to make the most of being at home, you may be thinking about the current value of your property and whether you may want to sell-up later in the year, or what you can do to maximise the value of your home. Many estate agents are now flexing with the current situation and offering virtual viewings in order to allow you to plan for your property transaction and search for the right property, but how do we value your property without ever stepping foot in your home?

The first solution is simple – online valuation tools. Online valuation tools have become increasingly more popular as their accuracy improves, and as people become more aware that the values are a rough guide rather than a solid appraisal figure. These tools look at land registry data to ascertain the price a property was previously valued at and then use matrices in order to give you a value in today’s inflated rate. Although the estimates can vary, they do give you an idea of the value your property could obtain on the open market, and allow you to have conversations with your agent about selling your home.

The next solution to have your property appraised remotely is more technological – by using video calling applications such as Skype, Zoom, Facetime, WhatsApp and others you can walk an estate around your home. You will be able to talk to the estate agent and they will also be able to guide you in terms of what they need to see to give you an accurate figure – they can also inform you of where the most valuable improvements can be made.

Finally, if you do not have the technology or the know-how to facilitate a video call, then sending over specific images of your property to your estate agent should be sufficient to give you an estimate of your property’s value. In principal, an estate agent will need images of the exterior of your property, including any gardens, garages and parking, as well as an image of each room of the property. If any further clarifications are necessary, your agent will call or email you so that your valuation isn’t delayed.

We would like to emphasise the fact that during this period you can make plans which will help to facilitate your property aspirations in the future – we are here to help you however we can.

Landlords: Updates To Navigate Through The Lettings Market

In response to the COVID-19 outbreak, the government has created emergency legislation, advice, and guidance to support the housing market. But what does this mean for the lettings market? With the many updates and changes, it can be difficult to pinpoint what changes and support affect you as a landlord. To cut through the noise, we have put together the latest Government measures to help you navigate the market during this difficult time.

No new evictions
If a tenant is struggling to pay their rent due to the impact of Coronavirus, the government has brought in emergency legislation that includes a ban on any new eviction in both the private and social rented sector. It is hoped that this will take the pressure of millions of tenants up and down the country who may be unfit to work or may have sadly lost their jobs due to the impact that Coronavirus had has across the nation. The legislation states that new proceedings to evict tenants will not be able to begin for at least a three-month period. After this, it is advised that landlords and tenants develop their own rent repayment plans that consider the tenants individual circumstances. The Government asks that landlords show compassion to their tenants during this time and allow them to stay in their homes where possible.

Three-month mortgage payment holiday
In line with the ban of new evictions, the Government has introduced a three-month mortgage payment holiday for buy-to-let landlords, and homeowners struggling for funds to pay their mortgage. Obtaining a mortgage payment holiday requires you to contact your lender, who will consider your circumstances on an individual basis, so it is important that you are open and transparent about your situation as soon as possible. You should continue to pay your mortgage until you have reached an agreement with your lender. The housing secretary, Robert Jenrick MP, said “The government is clear. No renter who has lost their income due to coronavirus will be forced out of their home, nor will any landlord be facing unmanageable debts”. So as long as you contact your lender in good time, this should take a lot of pressure off landlords and homeowners.

What about unmortgaged rental property?
For landlords with a portfolio of homes that they own outright and offer for rent, there are currently no measures in place [as of 25/03/2020].

Recording tenants who are self-isolating
If a tenant in your property is currently self-isolating due to exposure to symptoms of COVID-19, or they themselves are experiencing symptoms, you should record this along with all conversations that you have with the tenant. If you have an upcoming visit to the property scheduled, such as a property maintenance or inspection visit, you should not put your staff or contractors at risk. You should cancel the visit until the tenant is over the illness and no longer has to self-isolate. Your record of communication with the tenant should evidence that you took reasonable steps to show that you intended to visit the property and that you used advice from Public Health England to prevent the spread of COVID-19 by rearranging the visit.

Tips To Help You Cope Self Isolating

 

With millions of us now advised to self-isolate and practice social distancing to prevent further spread of Covid-19, we all must make adjustments. It might sound simple at first, to just stay indoors and end social meetings, but it can present various challenges such as anxiety, loneliness, and stress. There are coping mechanisms that we can incorporate into our daily routines to help combat any challenges we may face during this time. Continue below for some helpful ideas to support you in self-isolation.

1. Remember you’re not alone
It’s so important to remind yourself that we are all in this together. The whole country has been asked to quarantine so we are all going through similar thoughts and feelings; and everybody has their own personal circumstances to muddle through. Take some comfort in being a part of one big community doing your own part in battling through this pandemic.

2. Have conversations with people
The power of talking to someone is immense. Just because we can’t physically go and socialise doesn’t mean that we must stop socializing altogether. Make a conscious effort to pick up your phone and call family, friends, and work colleagues. You should try to do this daily. You could even create a new daily routine, such as having a morning coffee with a family member virtually. If you have the facility to do this over a video call, then even better!

3. Use social media
Similar to point number 2, use social media to communicate with your friends, family and work colleagues. This will help you to maintain your strong connections and relationships with people and help you to feel more supported, avoiding feelings of loneliness.

4. Plan your time
It can be very easy to lose all the structure from your days which can often leave us feeling unmotivated to do anything. By planning your time, you can recreate a routine into your daily life so that you feel more active and your body can release those positive hormones. Doing activities in the home can give you a sense of fulfillment and allow you to do things that you previously did not have the time to do. If you have children, planning a routine or schedule can also be helpful for them adjusting to being at home instead of school.

5. Use your support network
In stressful times, it can be easy to shy away from reaching out to people. But it is crucial that you do so. If there is something that you need and are unable to get for yourself, such as groceries, contact family or friends to ask if they can get these for you. They can leave them on your doorstep for you to collect so that you can maintain the government isolation rules.

6. Focus on the facts
There are so many articles about Coronavirus online, as well as ongoing news updates on TV; it can be a bit overwhelming at times. Within all this information is a lot of speculation; especially on social media. Try to stick to the respected health advice websites when looking for updates, such as the NHS, Public Health England, and Gov.uk. If you do start to feel overwhelmed, try to limit your news intake to just once a day.

7. Don’t ignore how you’re feeling
Don’t be hard on yourself if you feel stressed or worried. It is normal for those feelings to come and go at times. One way to manage your feelings is to write things down in a diary as a way of acknowledging how you feel. Reach out to someone to talk about how you feel, or to take your mind off it completely. You can also use activities that you enjoy in the house so that you feel in control and enjoy your time.

Financial Services Are Offering Low Borrowing Rates!

 

Financial services, like all other business sectors, have had to make changes to respond to the current health pandemic’s effect on the economy. Less people spending money has caused financial services to make adaptations necessary to prevent damage to the financial market. What this does create, is a window of opportunity to obtain an exclusive rate on your borrowing. The Bank of England has announced rates at a record low of 0.1% to reduce the cost of borrowing for consumers and minimize disruption over the coming months. This makes it a great time to consider a mortgage deal!

Tristram’s has access all lenders, so we can compare and offer unique packages to best suit your needs. Although our office is now closed, we are continuing our services, where possible, in order to help our customers in their property plans. To do this we are working from home (as are our partners) with our operations taking place over telephone and email; so, no physical contact is required. We can put you in touch with many of our financial service partners who can offer you free advice with no obligation to proceed. We are obliged to provide the best advice possible to each and every one of our clients, to help you obtain the best deal for your needs.

Why could this be a perfect time for you to consider your mortgage?

1. If your mortgage is due for renewal, you are assured to find a better deal and rate right now!
2. If you are new buyer, we can offer free valuations with cashback deals exceeding £1000!
3. We can see if you are eligible for exclusive rates that are free of any fees!

If you would like further information about the financial services that we can offer, please contact us today.