Whether you’re an experienced landlord looking for new investment opportunities or looking to take your first steps to becoming a landlord, the market is looking promising as we settle into 2024. Let’s look at how the rental market is shaping up and how you can benefit from it as a landlord.

Rental prices are on the rise
One of the main reasons you should be feeling optimistic as a landlord is that rent prices are predicted to continue rising. According to Zoopla’s rental index, average rental prices increased by 9.7% across 2023, increasing income for landlords.* It is predicted that average rent prices will increase by a further 5% this year*, further maximising return on investment for landlords, who could use this added income to expand their portfolio or make improvements to their existing properties.

Mortgage rates have decreased
More positive news for landlords is the recent announcement that mortgage rates have decreased, making property investment more affordable. These days, it’s possible to get a 5-year fixed-rate mortgage below 4%, meaning you can obtain a better deal when investing. As banks fight for business, increasingly attractive deals are becoming available.

Better deals on buy-to-let mortgages will also appear, which will help you expand your portfolio and increase your rental income. With lower interest payments, a larger proportion of your rental income can be distributed towards property maintenance and upgrades to increase the value of your existing properties and enhance the overall profitability of your portfolio. You also have the option of refinancing your existing mortgages at the new interest rates, reducing your overall borrowing costs for the entire duration of the mortgage.

There is plenty of choice
Now is an opportune time to search for new properties to invest in, as there is currently a high volume of properties on the market. On Boxing Day 2023, over 10,000 new properties were listed on the market, which is the largest number of new listings in a single day since 2011.** With an abundance of properties to choose from, you can select those that align with your investment goals, budget, and target market.

 

This high supply of properties will allow you to diversify your portfolio and spread your investments across several types of properties. For example, you may decide to buy a larger property and convert it into a Home for Multiple Occupancy (HMO), which often produces higher rental yields than regular lettings.

How an estate agent can help you
If you’re looking for properties to invest in, an experienced estate agent will conduct a thorough market analysis to understand the trends and dynamics affecting property prices in your area. This knowledge will allow you to set the right rental price, maximising your rental income while remaining competitive in the market.

Additionally, an estate agent will identify strong investment opportunities and negotiate a competitive price for any properties you may be interested in, maximising your return on investment.

 

Whether you’re on the market for your first home, or looking for an investment property, one of the key things to consider is: how much work are you willing to put in once you’ve been handed the keys?

If you’re on the fence between buying a fixer-upper or a move-in ready home, here are some pros and cons for both:

Fixer-uppers
A ‘fixer-upper’ is a property which requires thorough renovation and repairs before it can become a comfortable living space. Because of this, fixer-upper homes are generally sold for a much lower market value than homes which are ready to live in.

This type of home may be an ideal purchase for a first-time buyer or an investor, as they may be able to make a substantial profit by renovating and reselling.

Pros

• Lower upfront costs: Fixer-uppers can command much lower asking prices than similar homes that are move-in ready. Those selling fixer-upper homes usually wish to achieve a fast sale, so you might be able to snag a good deal if you get your offer in quickly.
• Personalisation and customisation: For some, the allure of a fixer-upper comes from the ability to use the home like a blank canvas and customise it to their exact liking.
• Adding value: Transforming a fixer-upper is a great way to achieve a return on investment, as there is plenty of scope to add substantial value to the property. From replacing outdated features to improving the home’s aesthetics, you can potentially profit from a fixer-upper home when the time comes to sell.

Cons

• Time: Time is our most valuable commodity, and renovating a home requires a lot of it. If you’re hoping to move in and get settled down quickly, a fixer-upper might not be for you.
• Costs: While the initial savings can be enticing, remodelling a home might cost you more than you expected. Even if you have budgeted thoroughly, there may be some costs for repairs which you hadn’t planned for. It’s important to carefully consider your financial standing before investing in a home which needs serious restoration work.

Move-in ready homes
‘Move-in ready’ is a broad term as it can cover many degrees of readiness. But fundamentally, a move-in ready home requires little to no maintenance or repair before its next owners can move in. The homes have plenty of appeal, as they may have been recently renovated, and buyers may be able to unload their furniture and get settled in right away.

Pros

• Convenience: One of the key advantages of move-in ready homes is the convenience they offer. Buyers can save time and effort as they don't need to deal with extensive renovations or repairs before moving in. This is particularly appealing to those with busy schedules or those who want to start enjoying their new home immediately.
• Cost savings: While move-in ready homes may have a higher upfront cost, they can often save buyers money in the long run. The expenses associated with immediate repairs or renovations are avoided, preventing unexpected financial burdens.
• Faster occupancy: The name itself implies that these homes are ready for move-in day. This can be advantageous for those who need to move quickly, whether due to job relocation or other personal circumstances.

Cons

• Higher initial costs: Move-in ready homes often come with a higher price tag compared to fixer-upper properties. Buyers may pay a premium for the convenience of not having to invest time and money into renovations. This can limit the options available for those on a tight budget or looking for more affordable housing solutions.
• Limited customisation: While move-in ready homes may be aesthetically pleasing, they often lack the level of customisation that some buyers desire. Some may find these homes restrictive, as major renovations may not be necessary but are also not easily accommodated.
• Potential overlooked issues: Even though a home is labelled as move-in ready, there's still a risk of overlooked issues. Buyers should conduct thorough inspections, as cosmetic upgrades might mask underlying problems. When house-hunting, it's important to ensure that the home is not just visually appealing but structurally sound to avoid unexpected maintenance costs down the line.

Whether you’re looking for an investment property or your dream home, contact our expert team today

 

With the arrival of sub 4% mortgage deals, banks are attempting to outdo each other by setting headline-grabbing rates. And with better deals on the horizon, with lower rates for those with smaller deposits, homemovers are starting to make a move.

Your property’s value will increase
As interest rates lower, demand for your home increases. Your home has become more affordable to buyers who need a mortgage to purchase it. A rejuvenated property market, which is enduring a shortage of homes, means your property's value increases. But as prices rise, you may have to borrow more, so it could be worth making an early move to get ahead of buyers returning to the market.

A quicker sale
With more buyers returning to the market, you are more likely to achieve a quicker sale. Let’s be honest: once you have decided to move and have found the right home, you want the entire process over and done quickly. Better mortgage deals mean more buyers are in a position to move. This also applies down the chain, meaning you are less likely to encounter delays.

An increase in certainty
The UK property market performed far better than many expected in 2023. In the aftermath of so many interest rate increases, the steadying of the base rate towards the end of last year came as a big relief to many homeowners and homemovers. Lowering interest rates and a positive outlook for the year ahead mean you can feel more confident as confidence in the market increases.

Lower mortgage payments and faster equity growth
Lower rates mean lower mortgage payments, with more of your payment contributing to the outstanding balance of your mortgage. This means you can build up equity far quicker. If you are planning on moving to your forever home in a few years, lower rates mean that you can move up the ladder more quickly. Financing home improvements also becomes more affordable.

There are other ways to save
Moving to a better home and making good investments has a hugely positive impact on your life. There are plenty of ways to make moving a viable financial option to counter slightly higher interest rates. If you can save on your commute, enjoy greater energy efficiency, have a better work-from-home space, and make your family happier, you will save money.

Your property story can begin
Are you a first-time buyer, downsizing, planning on retiring to a holiday home, or want to boost your pension while living in a more compact, energy-efficient property? Perhaps you love restoring and improving properties, like living in them for a few years, then moving on to the next project. Maybe you could be a fully-fledged buy-to-let investor?

 

Become the author of your moving success story by contacting us

 

With a greater sense of optimism in the air, lowering mortgage rates, and a compelling choice of properties to entice you, the UK property market is feeling good. A new year always brings new trends, fresh ways of buying, interesting properties, and a fresh influx of homemovers. Now is a good time to open your mind to the endless possibilities.

Mortgage rates are falling below 4%
With sub 4% mortgage rates making a welcome appearance on the mortgage market, homemovers are excited and relieved. For many years, mortgage rates were unrealistically low, and this has created the perception that today’s rates are higher than they actually are. Mortgage rates will not in the foreseeable future return to super-low levels, and those who know this are making their moves and getting increasingly better deals. After all, you can always change your mortgage deal in a couple of years.

Homes finding new owners
More buyers means more sellers, and all bring their properties to the market at some point, for you to buy, or for them to buy yours. This hive of activity keeps the market buoyant at this time of year. Spring is just around the corner, and this is often one of the best times of the year to move thanks to longer days, and warming weather to enjoy viewings. If you decide to join the party, your agent’s database will be teeming with homemovers and may already contain the right buyer for your home.

New trends
Create your perfect work-from-home space by selling up and moving to your dream location. Making the most of your home’s equity by purchasing a buy-to-let investment or holiday let is still a very appealing option. First-time buyers can spend up to £600,000 with a 5% deposit thanks to the Mortgage Guarantee Scheme, which has been extended until June 2025. Sustainability, energy efficiency, compact living, and smart technology are also growing in popularity.

A settling market
If you are a buyer, better mortgage deals and solid pricing that represent good value put you in a good position to move, thanks to a slowdown in house price inflation in 2023. You will get a good price for your home if you are selling, and you will enjoy good value if you are buying. These are ideal conditions for finding a great property and settling down. When the property market feels calm, it makes for a more pleasant moving experience. With good guidance from an experienced agent, moving home does not have to be a stressful experience.

Inspirational properties
Sustainability and energy efficiency are blended with fun and functionality, defining your spaces but allowing them to feel connected. The growth of smart homes and smart energy, fitted with smart appliances, promises to make your life easier. Features such as glass roofs and glass-door walls, with modern, clean designs leading to homely outdoor garden spaces, even in compact homes, make for inspirational viewings. Architectural styles from every era offer space with style and a sense of timelessness with modernity in magical settings.

 

Get in touch to take a fresh approach to your new home search this February

 

With a greater sense of optimism in the air, lowering mortgage rates, and a compelling choice of properties to entice you, the UK property market is feeling good. A new year always brings new trends, fresh ways of buying, interesting properties, and a fresh influx of homemovers. Now is a good time to open your mind to the endless possibilities.

Mortgage rates are falling below 4%
With sub 4% mortgage rates making a welcome appearance on the mortgage market, homemovers are excited and relieved. For many years, mortgage rates were unrealistically low, and this has created the perception that today’s rates are higher than they actually are. Mortgage rates will not in the foreseeable future return to super-low levels, and those who know this are making their moves and getting increasingly better deals. After all, you can always change your mortgage deal in a couple of years.

Homes finding new owners
More buyers means more sellers, and all bring their properties to the market at some point, for you to buy, or for them to buy yours. This hive of activity keeps the market buoyant at this time of year. Spring is just around the corner, and this is often one of the best times of the year to move thanks to longer days, and warming weather to enjoy viewings. If you decide to join the party, your agent’s database will be teeming with homemovers and may already contain the right buyer for your home.

New trends
Create your perfect work-from-home space by selling up and moving to your dream location. Making the most of your home’s equity by purchasing a buy-to-let investment or holiday let is still a very appealing option. First-time buyers can spend up to £600,000 with a 5% deposit thanks to the Mortgage Guarantee Scheme, which has been extended until June 2025. Sustainability, energy efficiency, compact living, and smart technology are also growing in popularity.

A settling market
If you are a buyer, better mortgage deals and solid pricing that represent good value put you in a good position to move, thanks to a slowdown in house price inflation in 2023. You will get a good price for your home if you are selling, and you will enjoy good value if you are buying. These are ideal conditions for finding a great property and settling down. When the property market feels calm, it makes for a more pleasant moving experience. With good guidance from an experienced agent, moving home does not have to be a stressful experience.

Inspirational properties
Sustainability and energy efficiency are blended with fun and functionality, defining your spaces but allowing them to feel connected. The growth of smart homes and smart energy, fitted with smart appliances, promises to make your life easier. Features such as glass roofs and glass-door walls, with modern, clean designs leading to homely outdoor garden spaces, even in compact homes, make for inspirational viewings. Architectural styles from every era offer space with style and a sense of timelessness with modernity in magical settings.

 

Get in touch to take a fresh approach to your new home search this February

 

The housing market has once again proven resilient despite residual uncertainty as we move into 2024. According to Zoopla*, new sales agreed ran 17% higher in November than they were at the same time in 2022, while buyer demand has climbed by 19%.* .

 

Tentative signs of growth

Confidence in the market has taken a series of hits over the past couple of years, starting from November 2022 following Kwasi Kwarteng’s Autumn ‘mini-budget’ announcement.

Today’s market has recovered nicely with an increase in the number of homes available for sale – up 25% in the last year – boosting choice and supporting sales.*

Zoopla also reported a further drop in mortgage rates, with some incredibly competitive rates for borrowers with a 60% LTV*. This is set to strengthen affordability and boost buyer demand in the coming months.

With the help of a trusted letting agent’s skills and knowledge, you can diversify your portfolio and experiment with different projects to see what works best for you.

 

How to time your move

While conditions are improving, the housing market is in a constant state of fluctuation; so, timing is everything. By considering seasonal nuances, market trends, and personal schedules, you can make an informed decision for your move.

Seasonal considerations

Each season will have its renowned pros and cons for moving. There is a lot of misinformation online about seasonal market dynamics, so it’s important to speak with a local agent who can provide you with accurate and localised data to help you weigh your preferences against practical factors.

Create a timeline

Moving is a step-by-step process which takes a lot of time. You can stay organised and even speed things up by developing a detailed timeline for your move. Consider when you will start packing, which dates the kids are off school, and when to hire tradespeople. This should provide you with a clear and realistic idea of what date you can get moved in by, allowing you to plan around work and any other commitments.

Should I put my house on the market before looking?

Having your home on the market while you’re looking for your next will put you in a stronger position as a buyer. When the market is competitive, some sellers may even sell their homes first and rent for a while so that they can be chain-free buyers. Your position as a homebuyer is strengthened if your home is already under offer or sold, as this shows sellers that you’re a serious buyer who can move in quickly.

 

 

 

Is your home ready for the market? Get in touch with our expert team today to find out how we can help

 

Whether you’re an experienced landlord looking for new investment opportunities or looking to take your first steps to becoming a landlord, the market is looking promising as we settle into 2024. Let’s look at how the rental market is shaping up and how you can benefit from it as a landlord.

Rental prices are on the rise
One of the main reasons you should be feeling optimistic as a landlord is that rent prices are predicted to continue rising. According to Zoopla’s rental index, average rental prices increased by 9.7% across 2023, increasing income for landlords.* It is predicted that average rent prices will increase by a further 5% this year*, further maximising return on investment for landlords, who could use this added income to expand their portfolio or make improvements to their existing properties.

Mortgage rates have decreased
More positive news for landlords is the recent announcement that mortgage rates have decreased, making property investment more affordable. These days, it’s possible to get a 5-year fixed-rate mortgage below 4%, meaning you can obtain a better deal when investing. As banks fight for business, increasingly attractive deals are becoming available.

Better deals on buy-to-let mortgages will also appear, which will help you expand your portfolio and increase your rental income. With lower interest payments, a larger proportion of your rental income can be distributed towards property maintenance and upgrades to increase the value of your existing properties and enhance the overall profitability of your portfolio. You also have the option of refinancing your existing mortgages at the new interest rates, reducing your overall borrowing costs for the entire duration of the mortgage.

There is plenty of choice
Now is an opportune time to search for new properties to invest in, as there is currently a high volume of properties on the market. On Boxing Day 2023, over 10,000 new properties were listed on the market, which is the largest number of new listings in a single day since 2011.** With an abundance of properties to choose from, you can select those that align with your investment goals, budget, and target market.

 

This high supply of properties will allow you to diversify your portfolio and spread your investments across several types of properties. For example, you may decide to buy a larger property and convert it into a Home for Multiple Occupancy (HMO), which often produces higher rental yields than regular lettings.

How an estate agent can help you
If you’re looking for properties to invest in, an experienced estate agent will conduct a thorough market analysis to understand the trends and dynamics affecting property prices in your area. This knowledge will allow you to set the right rental price, maximising your rental income while remaining competitive in the market.

Additionally, an estate agent will identify strong investment opportunities and negotiate a competitive price for any properties you may be interested in, maximising your return on investment.

 

Now could be the perfect time to get your property on the market as 2024 kicks off with more positive news. Last year, Zoopla* reported a 17% increase in new sales agreed as buyers sought to pin down new deals at the end of 2023.*

This influx in market activity appears to be rolling over into 2024, as mortgage rates continue to improve and buyers return to the market.
For sellers, house price falls are starting to slow down. This could be due to demand picking up, as some lenders are offering some very competitive deals for new borrowers at a 60% loan to value. This is great news if you’re hoping to achieve a quick sale this year.

It also appears that sellers who have waited for a more settled market can now cash in on the price gains they have been sitting on. According to Zoopla, the average UK home is now worth 18% (or £41,000) more than it was at the start of the pandemic in March 2020. * Because of this, we can expect housing supply levels to grow over the coming months as sellers make a confident return to the market.
Selling a property in a competitive market demands a thoughtful and strategic approach. Competition can be fierce during peak market periods, so you’ll need an expert on your side to help you navigate the selling process and achieve the best possible price for your home.

Understand market trends
It’s important to stay ahead of the curve by speaking with a local agent. They can identify supply and demand dynamics in your area and use this information to help set a competitive yet realistic asking price.

Price strategically
You’ll need to find the sweet spot for your property, so make sure to book an expert valuation as this will consider recent sales in the area, your property’s location, and the overall condition of your home.

Invest in effective marketing
Selling without an agent means you won’t have the same leverage online to reach the right audience. Digital marketing is a powerful tool, so you’ll need someone with an expert hand and an established network. However, traditional methods of marketing hold just as much influence, so make sure to ask your agent about their brochures, flyers, and local advertisements.

Responsive communication
When the market is busy, you need to make yourself stand out to potential buyers. Time is of the essence, so make sure to respond promptly to all inquiries and work closely with your agent by providing them with comprehensive information on your home. It will also put you in good stead to be accommodating with viewings, as you may be able to offer a booking slot which your competitor cannot.

Negotiation strategies
It’s important to have a skilled negotiator on your side who understands your property’s true value. Let your agent know if you’re willing to be flexible, as this could be the key to a successful deal.

 

Are you ready to sell your home? Get in touch with our expert team to find out how we can help

Zoopla*

 

 

 

Gazumping and gazundering are not always carried out intentionally to save money. Sometimes buyers and sellers experience challenges while they are between homes, and a good agent can help you overcome them.

What is gazumping?
You are elated that your offer on the home you have chosen has been accepted. A few days before completion, the person selling their property accepts an offer from another buyer. Although you may feel furious and a little heartbroken, this is perfectly legal.

How can you avoid gazumping?

• Get organised
  Don’t delay or waste any time. If you are organised, then you can move quickly. So, communicate with your agent and start the paperwork process as soon as possible.
• Sort your mortgage
  Working with a good agent helps speed things up, but if you don’t have your mortgage agreement in principle in place, delaying gives your seller more time to consider offers.
• Choose your conveyancer or solicitor wisely
  You don’t want a slow solicitor or conveyancer. Call them regularly for updates until they get the job done. Your agent could recommend a reputable firm for you.
• Negotiate the removal of the property from the market
  When making an offer as part of the deal, ask your agent if the seller is willing to remove their property from the market.
• A lock-out agreement
  You may be able to draw up a contract that will set out a given period of time in which the buyer has exclusive rights to buy the property.
• Gazump your gazumper
  If you really love the property and are determined to buy it, and your finances allow it, you could simply make a higher counter-offer; a small increase can make a big difference.

What is gazundering?
The boot is on the other foot in this case, as a buyer of a property lowers their offer, usually at the last minute. Like gazumping, this is perfectly legal until the exchange of contracts.

How can you avoid gazundering?

• Set a date for the exchange of contracts
  This is like setting deadlines for solicitors or conveyancers, the buyer, and the seller to work to. This will keep momentum going and reduce the risk of a buyer reducing their offer.
• Pricing is critical
  Understanding the property market is important. Your agent’s skill and experience in pricing accurately are crucial in valuing your property accurately.
• Valuing your home
  Good agents conduct face-to-face valuations and will find the right value for your home, and this will help prevent gazundering and gazumping in the first place.
• Avoid leaving surprises
  Hiding issues that may affect the value of your home, which will inevitably be discovered during a survey could encourage gazundering.
• Consider chain-free buyers
  There is no guarantee that this will prevent getting gazundered, but a chain-free buyer will move more quickly than a buyer in a chain.
• Be prepared
  The golden rule when moving home is to be organised. Anything that could delay your move, from paperwork, mortgages, and poor communication to choosing the wrong agent.

A good agent is crucial
An experienced agent could prevent and will certainly minimise the risk of either of these scenarios happening by matching the right buyers with the right homes. But even if these situations do arise, a discerning agent will help manage your situation so that your moving dreams do not become thwarted. Agents do not just sell properties but also represent your best interests and position in the market. They can improve your ability to buy or sell by always presenting you in the best possible light so that your home move is a success.

 

Get in touch today for a successful and smooth home move

 

The journey to your ideal home is often not a short one, and if you’re contemplating taking the plunge into homeownership, you may consider renting first to test the waters. Renting provides the unique opportunity to ‘try before you buy’ and comes with a range of benefits that might just make it the perfect first move.

Here are some of the advantages to renting before you buy:

Flexibility and freedom
Renting allows a level of flexibility that buying a property does not. If you’re unsure about your long-term plans or if you’re keen on trying out a few different locations before laying down roots, renting allows you to relocate easily without being tied to a mortgage or any of the other commitments that come with owning a property.

Try out different areas
If you haven’t lived alone yet, it can be difficult to know what surroundings would best suit your lifestyle. Renting first means you can live in and explore an area before having to commit to it. It’s a great way to experience a different walk of life, try out local amenities, plan your commute, and get a feel for the community.

Maintenance and peace of mind
One of the perks of renting is that you aren’t responsible for major property repairs or maintenance, allowing you to save both time and money. This is a great way to ease yourself into homeownership, as you can focus on gaining your independence without feeling like you’ve been thrown into the deep end on your own.

Gain experience
Being a reliable tenant is a great responsibility to take on before homeownership. You can learn how to budget around bills, how to take care of a home, and what it means to live independently. This experience will be invaluable when you buy your first home, as it will enable you to hit the ground running.

Build your credit score
Being a responsible tenant can also positively impact your credit score, which might make it easier for you to secure favourable mortgage terms when you decide to buy a home later. If you pay your rent on time consistently, this will demonstrate your financial responsibility to mortgage lenders.

Learn more about yourself
Renting a home allows you to experiment and figure out what works for you long term. This is a valuable opportunity to understand what your home requirements are in terms of size and layout, which will help you make a more informed decision when the time comes to buy your own place.

Simplify your transition
Renting puts less pressure on the transition into independent living, especially if you’re going to be living with a partner for the first time. Living in a rental home first allows time to adjust to the responsibilities of maintaining a household and to experience cohabiting with another person without the immediate commitment of ownership.

 

Contact us today to explore the exciting possibilities that renting can bring to your property journey

 

 

 

There are some amazing properties to rent in the UK today. Whether you are a successful business owner, a student, or a young professional, there is no end to the possibilities when it comes to property. Renting offers the freedom from mortgage responsibilities and being tied down, making it a great way to experience everything from flats in the city and suburban homes ideal for raising a family to country retreats.

The necessary steps to take

• Think about how much you can afford
  Do the math and consider not only monthly rent but also additional costs like utility bills, council tax, and energy bills.
  

• Property search
  This is a legally binding document outlining the terms and conditions of your tenancy. Read it carefully before signing and ask for clarification if needed. The agreement will include details like the rent amount, duration, notice period, and responsibilities of both the tenant and landlord.

• Book property viewings
  Going on viewings is exciting. Your agent will guide you through all you need to know while showing you properties in your desired location that best suit your needs.

• Tenancy agreement
  This is a legally binding document outlining the terms and conditions of your tenancy. Read it carefully before signing and ask for clarification if needed. The agreement will include details like the rent amount, duration, notice period, and responsibilities of both the tenant and landlord.

• Deposit
  Your deposit is held in a government-backed tenancy deposit scheme to ensure fair handling and will be paid before you move in; typically, it’s about one month's rent.

• Bills
  These may be included; if not, get in touch with utility companies when you move to ensure a smooth transition. Remember, if you pay for your utilities, you can change suppliers. Check when your council tax payments and rent are due and set up a direct debit.

Top tips for renting

• Take care of your home
  your new home in good order. Clean it, avoid causing damage, and follow any rules outlined in the tenancy agreement. Talk to your agent or landlord about decorating, find out what’s permitted, and enjoy where you live.
  
  
• Report any issues
  Resolving a problem before it becomes expensive is important. If your property is managed by an agent, all you have to do is call, and their maintenance team will sort it out swiftly.
  
  
• Get insured
  It’s always a good idea to get insured in case your belongings get damaged or stolen. Your agent will be able to recommend a good insurance broker. Another advantage of renting is you do not have to insure your home.
  
  
• Plan for the future
  Your landlord could be more than happy if you decide to renew your tenancy. This can provide stability and save you from the hassle of searching for a new property.
  
  
• Find a great agent
  Using a letting agent to find your property has many advantages. If the property is managed by them, they will always be just a phone call away. If you have a maintenance issue or want to look for a new property, the process is easy. Moving into your new home is exciting, and it’s comforting to have an expert to take care of everything for you, from your deposit, references, and any queries about your agreement to finding your ideal property in the first place.
  
  

Looking for a great property to rent?

 

 

 

 

 

 

Rightmove*

 

 

 

 

 

 

Summer is nearly here, and the opportunities to expand your property portfolio or take your first steps on the buy-to-let ladder are vast. So take a glance at some of the following great reasons why now is the time to make a great investment.

Demand is soaring
The demand for rented property is huge and continues to grow, with demand spiking by 250% above the five-year average per available rental home last year.* It’s old news and new news! The demand for rented property is huge. With people taking longer to get on the property ladder. Long-term demand due to the shortage of rental property will remain strong for a long time.

Rents are increasing
Your investment is secure. Rents have increased by 20% in the past three years, increasing by 11.1% in the past twelve months to March 2023.* The buy-to-let industry can be very lucrative, and with higher demand, higher rent revenues can be achieved. This allows you to invest in your property and meet legislative changes when it comes to making homes greener.

Buy-to-let mortgage choice is increasing
Expanding your portfolio can be easily financed. There are over 2,400 different mortgage deals available if you are buying a property to let!* So you have lots of options. There is talk of interest rates coming down, and while they are currently higher than they have been for the past few years, slowly but surely they are falling, which means you can expand using equity in your existing property to buy.

A bigger choice of properties
With some landlords retiring, there is a large choice of ready-to-let rental properties coming to the market. The standard of homes has generally risen, with many sprouting up for sale at this busy time of year. Many people put off moving in the latter part of 2022 and, during the pandemic, spent a lot of time and money getting their homes in tip-top shape. This means there have never been so many great houses on the market that are ideal for the rental market.

Greener, more energy-efficient compact homes
Renters are now more concerned about their monthly energy bills, and if your rental property is energy efficient, it will enjoy even more demand compared with less energy-efficient properties. Getting ahead of the legislation and creating greener homes is really just stepping into the future. So making your home more energy-efficient today will save you money tomorrow.

The age range of renters is changing
The population in the UK is ageing, and unlike in the past, older people are renting now as much as younger people starting out on their property journey. This is yet another great opportunity to meet the demand for a niche in the market by targeting this sector.

Holiday lets
With so many tourists now travelling to the UK and so many people choosing to holiday at home, there is always a great demand for holiday homes. And the good news is that you can charge a very healthy sum, which makes for a great investment.

Student sector
With more overseas students needing a place to rent, demand here has accelerated rapidly in recent years. This creates yet another opportunity among many to expand and launch your buy-to-let portfolio.

The property-buying market
Homes are selling well right now, particularly smaller homes, but if you want to buy a bigger home in the current market conditions, you will have more scope to negotiate when making an offer. Larger properties are full of potential to earn great levels of rent revenue or could be developed into flats or smaller properties, increasing your rent revenue streams.

 

Zoopla*

 

Looking for a new home to rent is exciting! There is no substitute for seeing your new home in person; you can only glean so much online. For many, it’s that feeling that you have found that special place you want to call home. How it looks and feels is perhaps the biggest part of your moving story, and no matter how much you like your newfound home, you will have many questions that need to be answered before you make your move. Otherwise, they will niggle away at the back of your mind. So here are a few questions you might want to ask so you know where you stand. Then all you have to do is enjoy your new home.

How much of a deposit do I need?
The chances are you will know the answer to this question already, along with the cost of renting the property, but it’s always best to check!

If there is an issue, who do I contact?
Knowing that there is someone to call if there is an emergency, a maintenance problem, or any question you may have will give you peace of mind. Many landlords choose to let their properties through a letting agent. This is ideal, as you will have a friendly and helpful face you can contact. So save your point of contact on your phone, and you'll know help is always just a press of a button away.

Can I decorate?
Being happy in your home is important, and decorating or simply adding those personal touches that help you feel content and settled makes a big difference to the quality of your life. Some landlords are more open to decorating, and you will want to know where the line is drawn when it comes to what you can and can’t do so you don’t risk losing your deposit.

Who is responsible for the garden?
The same goes for the garden; most landlords will want you to keep on top of the garden simply by keeping it tidy. But this is not always the case. If you want to make it your own by adding a barbeque, fire pit, flower beds, or furniture, you may need to ask beforehand. It may be that your new home already has some of these items in place.

What bills do I pay?
This might be the first question you ask, and even if bills are included, you need to know exactly what you are responsible for. For example, you might have to pay for broadband. And budgeting your monthly outgoings is important for your financial planning, and it’s most likely that you will have to pay council tax, so you will need to know the cost of this before you move in.

Is it okay to switch energy suppliers?
The good news here is that if you pay your energy bills, you are entitled to switch suppliers. You may find a better deal.

What is the energy performance certificate rating?
When it comes to paying the bills, you want your new home to be as energy efficient as possible, so this is worth asking. The same goes for any appliances on the property.

What alarms are fitted to the property?
Don’t be shy when asking about all necessary alarms, such as carbon monoxide or smoke alarms, which are a legal requirement; ask for the accompanying safety certificates for annual checks.

Can I keep pets?
If you have a furry friend, you might need to provide proof of vaccination, but the good news is that landlords can no longer enforce blanket bans on pets, but they can say no to your pet if they have a good reason.

What else do I need to know?
You may have many other questions, so don’t forget to ask your friendly agent, who will always be more than happy to help.

 

 

In essence, a fully managed letting service simplifies your life as a landlord. Simply buy a property, then let your letting agent take care of everything else while you take a step back, enjoy your life, and get a good return on your property investment! Like so much in life, there is more to being a landlord than meets the eye.

So what does a fully managed letting service provide?
Making sure your property is fully compliant with legislation is in itself a huge benefit of a managed service. It’s imperative to get this right; otherwise, you could face fines. This will save you from constantly keeping an eye on the latest legislative changes along with finding tenants and other potentially stressful work that goes into being a landlord.

Advertising your property
This is important if you want the best possible rental income for your property. Getting the right advice will get your property in tip-top shape and looking its best with an established agent who will most likely have tenants ready and waiting.

Taking care of tenant viewings
Once your property is ready to be viewed, the last thing you want to do is spend your valuable time arranging viewings and showing potential tenants your property.

Finding your tenants and getting references
With the chronic shortage of rental properties on the market, there will be plenty of tenants who want to rent your property. You want to protect your investment, and you will need references—yet another layer of paperwork removed from your busy life.

Organising inventory
No doubt, even if you let your property as unfurnished, you will need an inventory of all items in the property that belong to it, and as such, you do not want them to go missing or get damaged.

The preparation of tenancy agreements and documents
You will need a good contract spelling out the terms of your rental agreement. This protects you and your tenant and is essential to avoiding disputes. It should include details such as the term of the contract, your name as the landlord, whether the rent includes bills or council tax, and more, and should be signed by you as the landlord and your tenants.

The registration of your tenant’s deposit
It’s a legal requirement to deposit your tenant's deposit in a government scheme within thirty days of receiving it.

Rent collection
This is important because, when all is said and done, you are letting your property to receive rent, and having a reliable collection service offers great peace of mind.

Property inspections
If you have good tenants, then this is not always essential, and you must give them twenty-four hours' notice before inspecting the property. Doing this yourself can be time-consuming and a little awkward.

Maintenance
This can be both time-consuming and costly. Sometimes just finding the right help to carry out repairs and maintenance and having the resources at your fingertips that a managed letting service provides can prevent simple issues from becoming expensive repairs.

Arranging notice and finding new tenants
The time will come when your tenants may want to move on. You don’t want your property sitting around gathering dust; you want tenants back in as soon as possible. Plus, there is the planning and paperwork involved in arranging a notice period.

Disputes and final inspections
This can get complicated, and having all the necessary steps in place prevents unwarranted disputes from occurring in the first place. And if they do occur, having an expert involved will stand you in good stead.

 

 

Homes for first-time buyers, typically with two bedrooms, are selling exceptionally well right now. In March 2023, they were just 4% down on 2019, and average asking prices for the same period were down by just £500.*

The market for larger homes is a little slower, with sales agreed in March being 10% down on 2019 and second-stepper homes being 13% down.* This tells us that the market is in pretty good shape overall, but what is more obvious is that now is a great time to ascend the property ladder.

If you own a home that is suitable for first-time buyers, with two bedrooms or along the lines of a compact starter home, you will get a great price, and with larger homes selling a little lower than current asking prices, you are likely to get an offer accepted that will save you a bit of money.

Why is your starter home in such high demand?
There are many reasons why demand for smaller, more compact homes is high right now. There is the price of energy and the cost-of-living crisis. First-time buyers are looking to get on the ladder before the mortgage guarantee scheme, which makes it possible for first-time buyers to buy with a 5% deposit and is due to end in December this year. It stands to reason that smaller homes are cheaper to run, with less council tax and less maintenance, although this is not always the case. And with people downsizing to smaller homes, chances are that if you want to sell up, it will not take long before you are on the move.

How can you get more house per property pound if you buy bigger?
The short answer is that smaller homes are selling more quickly than larger homes, so the price of smaller homes is stronger, leading to less scope for negotiation. With asking prices for larger homes not quite as strong as those for smaller homes, you are essentially getting more houses for your money. It stands to reason that if you find a bigger home and it’s taking a little longer to sell, and with asking prices achieved at a lower rate than those of smaller houses, you already have one foot in the front door. Bring your haggling hat; there is nothing more annoying than ridiculously low offers that will only get rejected. But there is more scope for a reasonable amount of manoeuvring on price.

The market will bounce back, and that bigger house may become out of reach!
Many analysts expect house prices to rise quite steadily in 2024. In March, average property prices rose by 0.8%.* This could be a sign that buyers now realise that now is a good time to move, and it is a sure sign that the market is healthy and stable. Without a crystal ball, the future is impossible to predict, but you might find that in the near future, larger homes will become out of reach as prices start to ascend more rapidly.

Interest rates
It’s no secret that interest rates are on people's minds right now. However, the recent announcement of the IMF (International Monetary Fund), predicts interest rates to fall back to pre-pandemic levels. Mortgage interest rates are on the way down, and with many analysts suggesting that they may return to much lower rates when buying a home, you could consider higher interest rates to be temporary.

Conclusion
Perhaps the best thing to do is to check out the market and see what you can find. The joy of property hunting is that you never know what you might find. There are no fixed rules, but you might be surprised at what you can achieve.

 

Rightmove*

 

There is no doubt that we live in a wonderful age where pretty much everything we want is at our fingertips, and there is nothing you can’t get delivered to your front door. You can spend night after night scrolling through Rightmove and Zoopla searching for your dream home, and while it’s possible to buy a home completely online, just because you can does not mean you should.

Virtual viewings are an awesome introduction to a property. If you already know the area and you are simply looking for a great flat to let, then perhaps you will never need to carry out a physical viewing. They are a great way to dream and check out all the homes you know you can't afford to buy!

But there is no substitute for the sensory adventure that begins as soon as you see the home you want. It’s the difference between dreams and reality.

Sensory Experience
Yes, buying a new home is a big decision, but it is also an exciting and adventurous feast for all your senses. Entering a property that feels like home is a unique and amazing feeling to savour. There is no substitute for the tactile world of wood and stone and the visual feast that will greet you and witness some of your most precious memories. The scents of the garden, the vision of your new life, the plans for decoration—that special feeling you get that you can't explain yet for some reason you know it’s home.

Valuable experience
Let’s not overlook the obvious. Agents sell homes for a living and are a great ally. Drawing on years of experience to guide you and point out things you may not notice after having absorbed your requirements and desires. It’s a comforting feeling knowing you have an expert on your team.

Do you really want to deal with buyers directly?
Your time is precious, and agents can liaise with buyers for you. It’s also a good thing to have an experienced person dealing with offers from buyers who may make a few cheeky offers!

Checking out the neighbourhood
It’s important to get to know the neighbourhood and surrounding areas. You want to make the right decision and enjoy the peace of mind and fulfilment that come with loving where you live.

Test your agent
A face-to-face viewing or valuation with your agent not only gives you the chance to test out how you feel about certain properties but also to get a thorough valuation. It’s a chance to see your agent in action and become inspired, informed, and gain from their knowledge. A good agent will get on board with your vision for moving and help you achieve your property goals.

Expertise and another pair of eyes
A good estate agent will not try to force a sale during a viewing. After all, it’s your decision.

Simply having another pair of eyes and another perspective and answering all your questions face-to-face while you can walk through the property is more convenient. This will guide you towards making the decision that makes you happy.

Local market knowledge
Your estate agent will have lots of local market knowledge and may already have moved people in and out of your new neighbourhood. So take advantage of this and use it to take the stress out of your decision.

Browse our available properties and allow us to help all your property dreams come true.