The Blog

We have seen a busy start to 2024 with plenty of buyers out looking for property, particularly first time buyers who couldn’t get a look in the last couple of years due to high house prices and rising interest rates. Luckily, January saw interest rates starts to fall and although the Bank of England opted to keep the base rate the same due to not meeting their target on inflation, we continue to see rate cuts which is really positive. Rishi Sunak has proposed a 99% mortgage meaning you could buy a property with just a 1% deposit, while this is a positive move to get more buyers on the ladder, there is the concern this could again push house prices up causing another housing bubble and potentially pricing out the people it is intended to help. There are already plenty of ways to get people on the property ladder with as little as no deposit so I would advise anyone wanting to buy a property to talk to a local mortgage advisor to find out what your options are. When it comes to homeowners with existing mortgages, you can find a new deal up to 6 months before your current one expires. As rates will most likely be higher for anyone coming off an existing rate over the next couple of years, it is ideal to look at your remortgage early so you can ensure you are prepared for the change. Speak with Paisley Gray, our Mortgage and Protection Specialist: paisley@pmr-fs.co.uk 01702 529 656 07949 537 024

Working in the estate agent business brings a lot of trial and error with it as part of the job, but that means that we recognise the things that work well for us, and we can expand on them to drive our levels of success even higher. Keeping our eye on the ball and being able to adapt is crucial to a successful sale, and there are key things that we make sure we do with every property on the market to drive interest and to ultimately secure the right buyer for you. Here are some of things that we do to drive sales and get you the best price possible in any given financial climate for your current home. Marketing the property well Above all else, our job is to make sure that a home on the market looks as good as it can to potential new owners. There are a lot of factors that play into this, and one of those things, and a key one a that, is getting our professional photographers and videographers in to create the visuals we'll use both in our online and offline marketing materials. The property needs to look like a dream home and our professional team of industry photographers and videographers will work together with our agents to make it happen. Launching at the right time We also only launch a property on high search days, normally a Wednesday or Thursday, and we work with all the main third-party sites to guarantee that your property gets as much exposure as is possible. We constantly have our eye on the current trends and know through many years in the business when is or isn't the right time to market a property. The Price The price is one of the most crucial elements in selling your home and this is where it could easily go very wrong for you at the beginning of your sales journey if they property isn't priced correctly. We have more than enough experience in the industry to advise you on a price that will not only find you the right buyer but also encourage the potential of competing offers. Keeping an Active Social Media Presence Like most things nowadays, social media leads the way, and it is absolutely key that we use it well for all areas of what we do. Our team are very active on social media and we have noticed in the last couple of years just how many people use social media as a search platform, alongside their web browser, to seek out their next property purchase. We have found social media to be an imperative tool in recent years in supporting the marketing campaign for your home. Quick and efficient communication Communication is another key thing that we always pride ourselves on. Not only do we keep you updated every step of the way, but we answer all queries within 5 minutes – and we make sure viewings are blocked together as much as possible to keep things simple for everyone. For more information on the steps we take and know to work well when selling our properties, check our our free downloadable e-guide, available here: https://lawrenceantonyhomes.co.uk/a-guide-to-selling-your-home

If you are thinking about making the move to Rayleigh, then you will find many reasons why this is an amazing place to live and grow a family. Here are just a few reasons why we think that the area is worth you considering: Cost of Living A phrase that is being used more and more in the current climate, cost of living is something that most of us look at when we think about relocating, and you will find that it is more affordable here than in many other areas. Compared to London, it is definitely cheaper living in Rayleigh, and there are so many restaurants and food options to choose from with the majority being very reasonably priced. Employment Opportunities Something else that is vital to most is the chance to find employment in the area, and Rayleigh has many opportunities for people to jump at. The area meets the average in terms of employment, but the commute into London that many people take opens up even more options for people – you’d be well placed in terms of job seeking. Things to do Locally Obviously, with London not far by train, there are no shortage of things to do and places to visit – but you will find a lot to do in Rayleigh itself too. There is the local museum and windmill, indoor go-karting, play areas for children, and a trampoline park to name just a few of the varies activities that the local area has to offer. And you are just down the road from a seaside town, Southend on Sea, that comes alive in the warmer months with so many things for you and your family to do. Besides the beach and pier, there is the free-admission amusement park, Adventure Island, which has things like rides and mini golf. And the area is brilliant for shopping too with two shopping centres, The Victoria and The Royal, both offering a wide range of things that should cater to almost everyone. Schools There are plenty of choices for schooling in Rayleigh, with many schools performing well, and several receiving an ‘outstanding’ report when visited by Ofsted. There is a college to for those looking to go into higher education not far away – so you’ll be covered for schooling no matter the age of your child. House Prices Something you will definitely need to know is how much buying a home in the area will cost. The average sold house price in Rayleigh according to Zoopla for the last 12 months is £426,827 – in London that price averages around £740,597, so you can see why Rayleigh is an attractive idea for relocating to. While the current economic situation will have an impact on those prices, the area should still be an appealing one when it comes to house prices when compared to neighboring towns and cities.

You have likely heard the word ‘staycation’ banded about in recent times – especially given how restricted travel was during the heights of the pandemic, but more people holidaying on our own shores means there is a great opportunity for those looking to invest in property. And there are several good reasons for doing so, including that you and your family will get a nice home away from home to stay in if you want a break but aren’t keen on jet-setting off to another country. But that aside, let’s talk financial reward, because if you invest well, and in a good area prone to tourists – like Southend - you could be seeing significant gains to your bank account before too long. Holiday homes tend to charge a rate that means a one-week stay will net you more profit than an entire month would in a regular rental – so even with the off-season factored in you should still be seeing more gain than a standard property. With that though, do keep an eye on other factors that could have an impact – such as a wealthy area which will likely give you less yield than other places. Another thing to keep in mind as a plus for the holiday home market is the money you will save on general upkeep fixing things like wear and tear. A lived-in property will need more maintenance than somewhere that only houses people for around a week at a time – less chance for damage to be caused when people view the place as not their own. And whereas homes are thought of as an investment, holiday homes are looked at more like a business which means that there are tax advantages to be found. Speak to the relevant people about this because any chance to save money is one worth looking into.

Are you planning on moving house soon? If so, you will no doubt already be overwhelmed by the number of things that there are to consider – it can be quite the undertaking. While there is almost always going to be a small thing or two that you forget, we have a list of some of the key things to keep in mind before you pack up and head to your new home. As you approach the one-month out point, this is when you will need to have got all your utilities sorted. So that is your electricity, your internet, and phone line, water, gas, and anything else that you pay for in your current house. One month tends to be the notice period for many of these so make sure they are all taken care of by that point. And don’t forget that bills will be settled by the time you have already left the property, and quite possibly after someone else has already moved in – so check your meter readings so you don’t get stung with a high bill that may have not been down to you. And while we are on that subject, make sure all the people you owe that money to know where your new address is. Then there are all the other paperwork-type things that will need sorting. Make sure that your mortgage application is still on track, check that your building’s insurance is up to scratch, and ensure that the surveyor report is in place. Now it is just a case of starting to declutter your home and getting things ready for the big move. When you hit the two-week mark, this is the perfect time to start updating your address with all the relevant places, and there will likely be a lot of people and companies that will need updating - Your bank or building society, TV license, your employer, HMRC, your pension provider, and GP – the list goes on so don’t leave it to the last minute as you will have enough to do when you do move. When you get to one week, it is all systems go and the most obvious thing to do now is to really up your packing game – as well as making sure everything like electricity and gas are ready to go in your new abode. And keep in mind that getting the internet up and running in a home on day one is usually a tough ask, so be prepared to be without it for a few days unless you happen to have good mobile internet. By the time you get to the last 24 hours, you should now be on top of everything enough that you can enjoy a final takeaway in your old home before the laboring task of moving into the new one really begins. But give the place one last look over. Make sure it is all as clean as you can possibly make it, that all spare keys are placed together, and that you do those all-important meter readings. As we say, moving can be one of the most stressful things you can do, so plan wisely and don’t leave everything so it becomes a rush job – you’ll be far more relaxed for it when you get to the new place if you do.

While you can use our instant valuation tool to get a rough guide on what your home may be worth online, the best way to get an accurate valuation is to arrange for your local agent to value your property for you. How do estate agents determine how much a property is worth? There are numerous factors that will influence the value of your home including: Condition of the property Local market value Location Size The potential for extensions and another improvements may also have an impact on the value of the property Major works completed such as extensions, double glazing, insulation or new kitchen/bathroom, as well as the quality of the work carried out Internally things like the standard of decoration will be taken into consideration The asking price of the property will be determined by a combination these factors together with your local agent’s knowledge of how the market is currently behaving. What you’ll be asked at a valuation Without visiting your home, an agent won’t be able to get a feel for your home. What’s it’s like, what the area is like, potential for extending and so on. And let’s face it, a home is as individual as we are. While next door’s valuation may give you an idea of an asking price, your home is unique and may have features theirs does not. Expect to be asked why you bought your home in the first place and what you love about living there. Remember, what attracted you to the property could just turn into its USP and help generate interest in it. You will also be asked about your ability or want to move quickly. Have you already found a property and had an offer accepted for example and need to move as soon as possible? Or perhaps you’re looking to move within a non immediate timescale. If you’re unable to move right away, or are yet to find your perfect new home, we can complete your listing and publish it at a later date, putting you in a better position when you’re ready to move. Your local agent can also help you find your new home. Your agent will also be able to advise you on what you might be able to do to increase the value of your home prior to selling. Want to sell your home? Book an advice team with a member of our team and we can discuss the steps involved in listing your property, whilst also valuing your home for you. Book here

2022 has been a big year in many ways, and the housing market is no exception with changes to things including landlord rules and smoke and carbon monoxide alarms. But what do these changes mean, and what else has 2022 done to change the housing game? Well firstly, until late last year, property sellers had 20 days to file and pay their Capital Gains bill. This has now been upped to 60 to make it easier for people and to give a little more breathing room when it comes to getting everything filed in time. And when it comes to tax records and VAT returns, these have made the move to digital as of April this year for submissions. This has been applied to businesses with a taxable turnover of less than £85,000 – those over that threshold have been able to do this for some time. As mentioned, the smoke and carbon monoxide alarm rules are set for a change that is due to come into play in October this year. Here are the changes there: Social landlords to have a smoke alarm on every floor A carbon monoxide alarm is required in any room with a solid fuel appliance Landlords are required to fix or replace any faulty alarms the moment that they are told about it. Section 21 of the Housing Act 1988 is set to be no more in the spring. This is good news for renters as it will stop tenants from being evicted in a rolling periodic tenancy or at the end of a fixed-term tenancy without giving a reason. This forms part of the Renters Reform bill which will, amongst other things, look at giving tenants the option of a movable tenancy deposit that can easily be transferred from one landlord to the next. And then there is something that tenants have been calling on for some time – a change to the rules about owning pets in rented accommodation. Before the change, it could be virtually impossible to have a pet in a rented home, purely because the landlord decided they did not want people to – even if there was no good reason for the refusal. Not so with the changes as now tenants are automatically allowed pets, they just need to ask their landlord first, and they have 28 days to respond to the written request. And not only that, but they need a valid reason to say no! There will likely be more changes in the near future, and there are some interesting ones rumoured to be coming in the next 12 months, but what do you think of the ones that are already in place and on the way?

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.