5 reasons property sales fall through and how choosing the right agent can lessen the risk...

Many of us are tightening our belts with the rising cost of living at the moment. It’s a challenging time for most of us and we’re having to re-evaluate how we spend our money. If this is something you’re particularly concerned about then there are measures you may wish to take to help you feel more in control of your finances and prepared for the changes we’re about to face. Here we have shared a check-list of ideas of how you can reduce your monthly costs and feel more in control of your finances…   Switch mortgage deals Many people don’t realise that this is an option. Remortgaging, or changing your monthly mortgage costs are options that you may find are available to you right now to support you with how much you’re paying out each month. Speak to your mortgage provider and also a mortgage advisor to see what your options are. Our Mortgage and Protection Specialist, Paisley Gray, is available to support you with any questions you may have in this area. Email Paisley on paisley@pmr-fs.co.uk   Food shopping and planning When shopping recently, you probably found that as you were putting items into your basket the costs of each individual item didn’t appear more expensive. However, a lot of items have increased by around 30p - £1 each. Which when added to the final total works out £20 - £50 more expensive per week for most average sized households. Cutting the costs of your weekly shopping bill may seem impossible without missing out on essentials, but there are ways to have a better handle on what you’re spending. Avoid food wastage by meal planning and only buying what you need. Shopping online is easier for this as it’s not as easy to get distracted by extra items you may see in the store. A lot of the ‘smart price’ items in store are also just the same item but cheaper packaging, so swapping for the reduced items will help to heavily reduce your bill. Swapping to supermarkets such as Aldi or Lidl can also drastically reduce your weekly costs.   Meals out and day trips Cutting back on meals out and changing how you spend your free time will save on food and also fuel costs. But this doesn’t need to mean minimising your adventures, instead just plan how they can be more affordable. Could you car-share to save on fuel costs, or take a packed lunch to avoid eating out? Also look into discount websites such as Money Saving Expert to see what savings you may be able to make on activities with coupon codes.   Extra money from selling unwanted goods You may find you have lots of pre-loved items just sitting around the house. Pages such as Facebook Marketplace, eBay, Gumtree and Depop are perfect ways to make a bit of extra money to put towards some of those extra expenses.   Budgeting The best way to save money is to know where you’re spending it. Look at your bank statements and (if you don’t already) make a monthly budget to help you track your spending habits. You could have subscription services you forgot all about which you can cancel, or maybe you’ll find other ways to save money, such as switching providers or consolidating some of your debts to reduce your interest rates. Having a budget will make it much easier to recognise where you may be able to make those savings.   Avoid wastage Finally, maybe there are ways to reduce your monthly bills by avoiding wastage. Look at the way you conserve energy, perhaps you could find there are ways to use less energy around the house. Try avoiding leaving the taps on so you’re only utilising the water you actually need. If you can walk, try walking instead of driving and using fuel. Switch your plugs off at the wall at night.   We hope you found these tips helpful. Share a comment with us to let us know what steps you are taking to reduce your monthly costs.

Times are changing, and for the buy-to-let sector things are once again evolving for the better. We are now seeing the buy-to-let market on the rise, with it continuing to outperform most major asset classes. As Britain’s rented sector continues to expand, there are signs that property investment is consolidating itself as the investment of choice. Since the global financial crash of 2008, the UK has been in a significant housing shortage crisis and there has been a real shift in society, with the negative effects of the cost of living making renting the more attainable and affordable option for many households.  A programme to build new homes was started by the government, and there are now more mortgage offers on the table from lenders than ever before. With many schemes available, if you have a steady income, good credit history and are looking to make an investment to start or expand your property portfolio, now could just be the perfect time for this. Buy-to-let mortgages became a lot tougher to obtain once the country started feeling the full effects of COVID-19 and the lockdowns that followed. Deals were withdrawn by lenders, and many thought it would take years for the market to recover, Happily, recovery has happened much earlier than expected, and rates are already looking better for those with an eye on buying. Buy-to-let properties are a once more a worthy investment. Things are looking to continue improve further in the coming years which paints a rosy picture of what the future holds for landlords and investors. The landscape may be different now, but it is by no means the doom and gloom scenario that many feared we would be facing – property remains a smart thing to put your cash into.  But, and this is especially true of anybody just starting out in the business, make sure you do your research to know that you are investing smartly. Look into the local area and all the surroundings, talk to the experts, and get the advice of someone who knows the ins and outs. And take your time, don’t rush a big decision like this – this is one of those times where due diligence is a must. Do things the right way, however, and you may well find yourself reaping the rewards of a smart investment that pays off.  The biggest challenge for buy-to-let investors at this moment is securing the inventory. With the current demands in the marketplace it is becoming increasingly difficult to have an offer accepted on a property as listings are not advertised for long before a sale is agreed. This is joining agent buyers clubs is a great idea (especially when they are free!) as you will be the first to hear when new properties come to market. We launched our VIP Buyers Club this year and our buyers club members benefit from being first in line for viewings and to be told when we list new properties. For more information on how to join, head here.