Are These Mortgage Myths Stopping You from Buying a Home?
Think you can’t afford to get on the property ladder? Well, think again. Thanks to changes in the mortgage market, the reality may be very different.
Many aspiring first-time buyers (FTBs) have the wrong idea when it comes to mortgages, new research has found.
A study by mortgage brokers Alexander Hall says many would-be FTBs don’t realise just how much the mortgage landscape has improved in the past 12 months.
As a result, they mistakenly assume they’re locked out of owning a home.
The … Continue Reading…
How to Choose the Right Tenant When Your Property is in High Demand
If you have a house or flat to let (or relet), then chances are you’ll have many applicants to choose from. Here are some thoughts on managing the process and selecting the very best tenant.
Have a great ‘to let’ advert
Have a detailed and accurate description of your rental, along with good photographs.
This helps by ensuring that only those tenants for whom the property is suitable apply.
Tip: Consider stating a minimum monthly income. Two-and-a-half times the monthly rent is one rule … Continue Reading…
What First-Time Buyers Really Want
First-time buyers have always been key drivers of the housing market. Their choices don’t just shape the property landscape today – they also hint at where things might head tomorrow.
New research from Barclays has shed light on what’s driving the decisions of different generations as they become homeowners for the first time.
And the results show that while affordability remains a universal challenge, what first-time buyers (FTBs) want in a home changes noticeably with age.
Gen Z: Forever homes with work-ready spaces
For … Continue Reading…
Boiler Breakdowns, Servicing and Replacement: A Quick Guide for Landlords
According to one survey, boiler breakdowns surge by 50% in October.* Here are some tips for avoiding headaches and hassles if your rental has a gas boiler.
Is your boiler due for a service?
As a landlord you’ll know that gas appliances, including boilers, need an annual gas safety check by law.
Gas safety checks don’t necessarily include a service, however. A boiler that is serviced annually is more likely to stay reliable and safe.
Check to see if your boiler is due for … Continue Reading…
Should You Make a Cheeky Offer? Some Thoughts Buyers Might Find Interesting
If you’ve seen a property that you like, then you might be considering making a cheeky offer on it. Before you do, here’s what you need to know.
What exactly is a cheeky offer?
There’s no hard-and-fast definition.
Some people might consider it an offer that is significantly below the asking price.
If the listing specifies ‘offers over’ a particular price, then it might be a figure that is significantly less than that.
Do cheeky offers work?
It depends.
The seller’s decision will be heavily influenced by … Continue Reading…
Landlords Beware: This TikTok Trend Could Lead to Sticky Situations
A popular DIY hack promoted on social media as a ‘renter-friendly upgrade’ is causing costly repair bills.
Search ‘renter-friendly hacks’ on TikTok and you’ll find endless videos on low-cost ways to customise a property.
Influencers share DIY transformation tips that they claim are easy to reverse at the end of a tenancy (so as not to jeopardise the rental deposit).
However, many of these so-called ‘upgrades’ are proving to be problematic.
Lettings expert Sarah Evans recently told The Sun newspaper that these ‘quick fixes’ … Continue Reading…
Should You Improve Your Home Before Selling?
A fixer-upper or a home that has ‘room for improvement’ has long been attractive to buyers. But that could be changing. Let’s explore if it’s a good idea to get your home move-in ready before putting it on the market.
What buyers want may be changing
A new survey* says buyers are prioritising ‘ready to go’ properties – rather than homes requiring extensive work – due to higher borrowing and renovation costs.
It says buyers now prioritise the quality and finish of a … Continue Reading…
Bank of England Reveals Latest Interest Rate Decision
Bank of England Reveals Latest Interest Rate Decision
The Bank of England (BoE) has voted to hold the base rate at 4%.
The announcement earlier today was in line with financial market expectations.
The steady-as-she-goes approach comes after new figures released yesterday showed inflation remains unchanged at 3.8% (above the Bank’s target of 2%).
The BoE is obviously keen to get on top of this sticky inflation, hence the decision to hold rates rather than drop them.
In a statement, it said: “The [Monetary Policy] … Continue Reading…
Are You New to Renting? Don’t Make These Rookie Mistakes
If you’re new to renting, here’s some advice that will help get your tenancy off to a good start and avoid future disputes.
Searching for a property to rent can be daunting, especially if you’re a first-time tenant.
But by avoiding the rookie mistakes listed below, you can build the foundations of a long and happy tenancy.
Not using a legit letting agency
Thousands of Brits lose money to fake property listings each year. Don’t be one of them.
The scam usually goes like this. … Continue Reading…
The Biggest First-Time Buyer Blunders – and How to Avoid Them
If you’re looking to get on the property ladder, here are some helpful home truths that could help you avoid a costly mistake.
Stepping over the threshold into your first property is an exciting and memorable moment.
However, first-time buyers (FTBs) can waste valuable time and money by making any of these common homebuying mistakes.
Not doing your sums
Many FTBs start property hunting without a concrete idea of their budget.
They either waste time looking at properties that are out of their reach or … Continue Reading…