A better rate of return for less investment means more hard cash in your pocket.

When it comes to buy to let a lot of people make the choice to buy a modern property on Moreton Hall and while there is nothing wrong with the area or indeed the properties there it doesn’t necessarily give you the best return for your investment.

I have over the last five years sold many properties to local property investors and I have seen the difference it can make when you consider all the options.

Let’s take a look at the below two examples of one time buy to let options that would be comparable for first time landlords.

House 1

 

 This three bedroom house recently let for £895pcm, the average price for a property similar to this would be £260,000 and let’s say the management agent charges you 10%. The gross yield is 4.13% and net yield is 3.72%

(Your gross yield is your return on investment before deductions such as taxes and expenses, whilst your net yield is your annual return after such expenses are taken into account).

House 2

This three bedroom house recently let for £820pcm, the average price for a property similar to this would be £190,000 and the management agent again charges you 10%. The gross yield is 5.18% and net yield is 4.66%

You may look at the two properties and think you would much rather live in house 1 but you are not going to live there are you! You may also think house 1 will attract a better client and need less maintenance but there is no way of telling this. What I can tell you is that house 2 is likely to be built well; has local amenities and schools; a good bus service and your tenant will be more inclined to stay there longer.

There are many things to consider as Buy-to-let investment is very different from owning your own home. When you become a landlord, you’re effectively running a small business – one with important legal responsibilities.

To find out more drop me a line and we can discuss what kind of investment options are available and which one suits you best.

WHY 95% OF HOME-OWNERS STILL USE TRADITIONAL ESTATE AGENTS

Media Release: 27th June 2016

WHY 95% OF HOME-OWNERS STILL USE TRADITIONAL
ESTATE AGENTS

 

The broadcast media is awash with new online estate agents who claim to sell your house for a fraction of the costs. Calculations of the potential savings are being distributed with abandon. The current statistics show that over 95% of home owners still use the tried and tested estate agency model. So are the new kids on the block just starting to attract smarter consumers, or is the enticement of a potentially cheaper fee covering over potholes that carry potentially serious consequences for the vendor?

Putting aside that almost all estate agents are already online, and that in many parts of the country the so-called modern, efficient models can actually cost more than the existing competition; Jason Hydes, Branch Manager of Bychoice Estate Agents, explores some of the more important aspects of the debate. But who will deliver the best result for the seller?

The first, crucial point is motivation. With a physical estate agent, you only pay a fee when they successfully sell your property; and the agent will usually earn more commission for achieving a higher price. Therefore, there is a mutual interest in securing the best possible result. With many of the new models, you pay a significant, up-front, non-refundable amount whatever happens – for example, even if you never receive a single offer on your home.

Secondly, selling a property is much more than just putting it on the internet. Markets are constantly changing, and a good agent will constantly evaluate the price and marketing, based on the latest conditions. This might include the mood of the market and what is available locally. The best estate agent will utilise a wide variety of personalised tools, such as contacting their extensive database, distributing leaflets, communicating via social networking, and facilitating ‘open house’ events. These elements can be crucial in generating the best offer. Yet very few, if any, of the new online estate agents to date offer such services to their clients.

The next key stage in selling your home is qualifying the offer. Almost a third of agreed sales fail to complete, and one key reason is that the buyer may struggle to access the necessary finance. A local professional agent will have established the motivations and financial status of the applicant, thereby reducing the likelihood of disappointment and further delays and, therefore, also of losing other potential buyers who would have completed the purchase.

Negotiating the sale of your own home can be a tricky business. This is an important and emotive subject, and normally the intercession of a professional can turn an ‘insulting offer’ into an acceptable compromise. Again, you need the help of someone who can use local knowledge and experience, together with insights into the relative situations and of the parties involved, to craft a mutually acceptable position.

Currently, one of the biggest difficulties in moving is managing complicated chains, which require the involvement and sometimes coercion of many separate parties, such as other estate agents and their solicitors. Many leading agents now assign their most talented employees to progressing pending sales, even on behalf of the other agents in the chain who may not be so diligent. This can literally make or break a sale and again, it makes sense to seek out an estate agent who knows all the parties involved - and who is strongly financially motivated to complete the sale as quickly and efficiently as possible, not just move on to the next listing.

Selling and renting property has become increasingly regulated, and trust and confidence flows from dealing with an individual who can offer expert and appropriate advice. The best local agents will employ staff who have proven expertise and who have achieved recognised qualifications in their particular specialisms. They are, therefore, better able to manage the myriad of problems that normally accompany any potential sale or purchase – increasing the likelihood of success. Some of the newer models employ so-called local experts who are in truth, neither of the two, and so may fall short on offering the help when you most need it. A local expert could advise confidently on local schools and catchment areas, dentists and hospitals, commuting times, potential new developments in the area, or seasonal factors such as tourism and special events.

When it comes to the move, there are many other services that the purchaser or investor may require; the more obvious are a solicitor, a removals company, and maybe a mortgage provider, but you may also want specialist tax advice, the name of a trustworthy builder, plumber of electrician, gardener, or interior designer…or just a key holding service and a locksmith! The best agents will know local professionals who are proven and trustworthy. Their business is to a large part dependent on their local reputation, and so will have built up a network of similar experts who can work together to help their clients.

Many local agents will also be part of a national network such as the Guild of Professional Estate Agents, offering joint marketing for your property across up to a thousand other similar offices. Almost 10% of buyers come from outside the area, and agents will have established this as part of their conversations and can, therefore, put together purchasers and sellers who otherwise may not have connected.

Marcus Whewell, CEO of The Guild of Professional Estate Agents believes that the true points of difference are not technology or enticements of low fees, but a proven network of local professionals who are connected into their local communities, and are financially committed to successfully selling your property. He says: “You won’t find this on the TV adverts, but the really smart money will look for strong personal commitment, experience and expertise, great levels of service, and consistent positive outcomes for clients”.

Jason Hydes says, whether you are looking to buy, sell, or rent property, require free valuation or financing we have the expertise to assist. As your local property specialists we have vast experience of the local property market. Renowned for our superior ethics, negotiation skills and dedication to providing excellent service, we guarantee our clients benefit from the best possible result concerning the sale or letting of their property.

Take advantage of our FREE valuation service today!

Established in 1993, The Guild has since grown to a network of approximately 800 members, who all adhere to the same strict Code of Conduct.

The Guild of Professional Estate Agents (The Guild)

The Guild is a national network of approximately 800 carefully selected independent estate agents, working together to consistently raise standards of excellence and professionalism in the industry. The Guild facilitates and supports its members providing marketing, business and technology solutions to ensure a ‘best in class’ service, delivering a key competitive advantage: trust and confidence.

 

 

Brexit is not necessarily bad news

And so it has come to pass, the UK is one step closer to leaving the European Union which means uncertainty will creep into property markets in the coming months, but it is not all bad news.

So many of the headlines have concentrated on how prices could fall, how there won't be enough workers in the construction industry unless steps are taken to address the skills crisis and how interest rates will rise.

But there are positives as well. Builders will, by all accounts be glad to see the end of EU red tape, falling prices will help first time buyers and in reality interest rates are unlikely to rise anytime soon and could even fall.

It must be remembered that the UK housing market is very much tied to the economy and wages so it is these two areas that will give us clues as to how the property markets will play out. Yes there is likely to be less investment from overseas buyers in the prime property market in London but this will be very short term as currency exchange will soon entice and buyers adopting a wait and see attitude.

The Chancellor George Osborne is making a statement today (Monday) but there is unlikely to be anything concrete regarding the housing market, he is much more likely to wait and see if anything needs to be done but probably takes the view that if the economy is shored up then so will the property sector.

Yes, borrowers who are looking to make the biggest financial decision of their lives want to see and feel that nothing is likely to risk their jobs or increase their mortgage payments but if interest rates come down and they can secure a five year deal on a very low rate then they should have some security. Indeed, economists at JP Morgan have predicted that borrowing costs could fall to zero by August.

There could be a reduction in housing transaction numbers until borrowers are more certain of what the position is but this is unlikely to be long term. Those who have to move house, for a job, for family reasons etc., will still do so and the lack of supply is not suddenly going to change overnight.

Once everything has settled down over the summer months the market is likely to pick up again later in the year. So the inherent under supply of housing should continue to underpin the market as the demand will always be there.

It should also be remembered that within the UK there are very different property markets. Growth in London has been slowly for some time, especially in the prime sector, so that may continue dipping, but markets in the north of England, for example, are unlikely to be affected to the same extent.

The general opinion seems to be that the result of the referendum is a shock, even among those in the Leave campaign, but the Bank of England, the Treasury and large companies will have made contingency plans. The UK housing market is too resilient and comes for a base of being a good long term investment whether for home owners or commercial investors. That will not change.

Welcome to the Bychoice Estate Agents Property E-zine

View the latest properties for sale or to let from your local Bychoice Estate Agents branch by selecting the link below.

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Leasehold jargon buster for lessees

Buying or owning leasehold property can be daunting for leaseholders for a number of reasons. In particular, many leaseholders complain that associated jargon is overwhelming. But the fact of the matter is that as a leaseholder you have important rights and realising these rights is much easier than you might think.

Here are some of the terms you might regularly come across.

Leaseholder and freeholder

You, as the leaseholder are commonly known interchangeably as the ‘lessee’ or ‘tenant’. When you buy a leasehold property you are purchasing a lease which is essentially a contract permitting occupation of a flat upon specific terms.
The freeholder is known as the ‘lessor’ or ‘landlord’. They own the block in which the flat is situated. They will also have the power to impose certain rules against you which will appear in the lease, for example – they may require you to ask their permission before making alterations to the property.
The great news is that most leaseholders have the ability to buy their freehold collectively. More on this later…

Lease

A lease is the contract that sets out the terms on which you ‘own’ your flat. This document will contain ‘covenants’ which are essentially rules and regulations relating to the property. By signing or buying a lease you and the freeholder are agreeing to observe these covenants. The lease will also set out the amount of the ground rent and service charges that you will pay to the freeholder.

Ground rent

Ground rent is an annual fee (although in practice it is often payable on a six monthly or quarterly basis) that you pay to the freeholder. This may be a fixed or rising ground rent, depending on the terms of the lease. This can also be increased (or indeed decreased) by agreement of both the leaseholder and freeholder and can be reduced to a peppercorn on a lease extension claim.

Leasehold enfranchisement

The term ‘leasehold enfranchisement’ is often met with a bemused look. Ultimately, this is an umbrella term and mainly covers the following:

• Collective enfranchisement
• Lease extensions
• Right to Manage claims
• Right of First Refusal

Collective enfranchisement

As a leaseholder you may have the right to buy the freehold interest in your building. There are strict requirements that must be met but the crux of collective enfranchisement is that you and the other leaseholders in your building join together to purchase the freehold interest. There are a number of advantages to this. You can manage the block how you wish, which usually results in much lower service charges. You can also extend your lease to a much longer term without paying a premium.

How much is my Bury St Edmunds property worth?

… how much has my Bury St Edmunds property gone up by?

how much will my  Bury St Edmunds property go up by?

Your local property guru can help! Just ask for Jason on 01284 769598
 

How to survive the rental market

An increasing number of people are now renting rather than buying. In fact, PwC has recently predicted that by 2025, 7.2m households will be in rented accommodation, compared to 5.4m in 2015.

With rising house prices, first-time buyers are renting for longer in order to afford. But the rental market can also be a challenge. As with most things, it’s much easier once you’re prepared, so here’s an overview of what you can expect so you can sail through the rental market.

Flatmates
Many of us choose to go into flatshares when renting. They’re often cheaper and they’re a great way of making new friends. But they can be a challenge, especially if you’re not the biggest fan of the person in the next room. So how can you be sure that you’ve landed on a good selection of housemates before you start renting? First things first – always meet them before you sign the contract. This seems obvious, but you’d be surprised how many people move in without any idea of who they’ll be living with.

Although there’s no definite way of being sure what they’re actually like to live with, there are a few things you can look out for when you meet them. Firstly, don’t be afraid to ask questions; go beyond what they do for a living, and ask what they do for fun, how often they’re in the house, and if they socialise together. All of this will add to the general atmosphere in the property. Secondly, take note of how well the house is being looked after when you visit for a viewing. If the bin is overflowing and there are dirty pots on the stove, it might not be for you if you like things to be clean and tidy. Finally, discuss how bills are split and paid. This will give you a good indicator of how organised your potential housemates are, and you can iron out any problems before signing for the property.

Finding the property
One of the best things about renting is that it’s temporary. Although this can feel like a downside, it does mean that you don’t need to think too far into the future and can find a property that suits your current lifestyle. To find a good rental property for you, make a list of all the things you require for your lifestyle and search for a property that fits the bill. And remember to prioritise; it’s unlikely that you’ll find the ideal property, so think about what is a must and what you can compromise on.

Securing the property
The rental market moves extremely fast, so it’s important to be proactive in your search. Set aside time when you’re available for viewings and ask the lettings agent to take you to a few properties during each appointment so you can compare them easily. When you find a suitable property, be prepared to move quickly and put in an offer on the day or the next day.

It’s also a good idea to be prepared well in advance for the next few steps. Make sure you have funds for your deposit and references ready so the next part of the process runs smoothly. Informing the lettings agent that you have these available will put you in a strong position for securing the property.

Fees
It’s now a legal requirement that all lettings agents display their fees on the websites and in their offices. Sometimes, you also have to pay a holding fee to secure the property. Make sure you have a look at the fees before going on viewings so you know how much you will have to pay.

Deposits
A rental deposit covers your landlord should you miss any rent or damage their property. They are typically between four weeks and eight weeks rent, but check this in advance so you can save the money.

It is a legal requirement that your deposit is put into a deposit protection scheme, so always check this before signing any contracts.
When it comes to getting your deposit back, it’s a case of looking after the property while you’re a tenant and reporting any problems. Check the inventory when you first move in and add any existing damage that you notice, making sure it is confirmed by the landlord. Take photos when you first move in and when you leave so you have proof of any previous damage to avoid being penalised. If the property is furnished, remember to take photos of what is present when you first move in and when you leave. All of this should be recorded on the inventory, so check everything is present and correct. For more advice on getting your deposit back, please click here.

Insurance
Tenants can get home contents insurance to cover the cost of their belongings under unforeseen circumstances. Most tenants won’t need to worry about buildings insurance as this should be covered by the landlord, but check this before signing for the property. You can get home contents insurance if you’re renting a shared property, but find out from the insurer exactly what you need to do to ensure you are covered.

When is the best month to sell your house?

We all know that Spring is generally the best time to sell your house. The bright daylight will make your home look lovely and people tend to have clear schedules. But what about an exact month? We’ve dug a little deeper than just seasons and have searched out the best month for all different kinds of properties.

 

To sell a home successfully (for the most amount of money in the shortest possible time), it’s essential that you find the right buyers. This is, after all, what it comes down to – finding those people who are keen to move into your house and are willing to put an offer in straight away for its full value (not to be confused with asking price). Timing is everything when it comes to finding these buyers. They’re out there, but if they aren’t looking for a home when you market yours, there’s little hope in them finding it. This is why it’s difficult to pin down an exact month that’s best for selling houses; because different houses appeal to different buyers who are all looking at various times of the year. Therefore, it’s often best to think about the best month in relation to each various type of property. Here’s a good overview of what’s typically on the market in the UK.

One/two-bedroom flat
These types of properties tend to appeal to young professionals. Depending on the asking price, it might also appeal to first-time buyers. With Christmas out of the way, lots of young professionals start looking in February. They also tend to start searching in September, when they’re no longer busy with summer holidays and weekends away, and would like to get moving before Christmas.

Three-bedroom house
As classic family homes, these tend to attract second-steppers who are climbing up the ladder and either have children or are planning to have a family in the near future. Try to avoid selling this kind of house in school holidays when your target buyers may be busy trying to find childcare or running around after the children themselves. April is a good month to sell three-bedroom houses as the target buyers are likely to be looking now, thanks to Easter being out of the way and with the summer holidays a couple of months away.

Four-bedroom house
Likewise, these properties tend to appeal to families and are usually afforded by people who are moving onto their third or fourth property. You could go for April, as you would if you were selling a three-bedroom house. However, February might be even more effective, as you’ll avoid the masses of houses that are coming to market at this time. This is important as you need yours to stand out because your buyers are likely to be experienced in viewing houses and more selective in what they choose.

Five-bedroom house +
Larger houses and luxury properties are typically more difficult to sell, simply because there are fewer buyers out there and they are searching for something truly special. The best month to sell a luxury house is typically in April, just like the family houses. This is because it’s a busy time in the property market, and you need to get yours out there when the optimum number of buyers are searching. But be careful, lots of other properties will be coming to market at this time, so make sure yours is marketed efficiently and has superb photos.

Conclusion
So what do we think? Is it February or April? Well, we would say April for most houses. It’s usually free of school holidays, often has sunny days and it’s popular – and when lots of people selling, lots of people are buying, too.

Stamp Duty Land Tax: The Changes in 2016 and How They Affect You

The government has put in place an increase in stamp duty land tax (SDLT) for homeowners buying a second property that has come into effect from April 2016. The goal of this is to make more housing available for buyers and these changes could result in a hefty surcharge for some landlords making buy-to-let purchases.

To help keep all of you up to date we’ve put together an overview of the changes explaining exactly what they are, how they affect you and how to calculate the increase for any potential purchases.

What is stamp duty land tax? Stamp duty land tax is a lump-sum tax that applies to a purchase of a property or land costing more than a set amount. This tax applies when you buy a freehold property, a new or existing leasehold, a property through a shared ownership scheme or when you are transferred land or property in exchange for payment. This lump-sum can vary as it is based on the price and type of the property.

What are the changes coming in 2016? Currently the residential Stamp Duty Land Tax rate for property in the £0 - £125k band is 0%. However, any buyers purchasing additional properties in England, Wales and Northern Ireland will have to pay an additional 3% on each stamp duty band. This would mean that from April, a property bought for £100k would also come with an extra £3,000 in SDLT.

There are some exemptions from this increase such as If you are a landlord with a large portfolio and own fifteen properties or more, these changes will not apply to your purchase.

If you have purchased a second property that will not complete until after April you may still avoid the increased charges. If you exchanged contracts before November 25th- when the autumn statement from the government was delivered- you will NOT have to pay the higher tax rate.

Calculating your SDLT rate To make it easy for you to calculate the SDLT rate on any potential new purchases we’ve included a table below detailing the changes for each stamp duty band.

Band	Existing residential SDLT rates	New additional property SDLT rates
£0 - £125k	0%	3%
£125k - £250k	2%	5%
£250k - £925k	5%	8%
£925k - £1.5m	10%	13%
£1.5m +	12%	15%

It is worth noting that if the property is valued in one of the higher tax bands, the charges will apply across all bands. If you were to buy a property for £750,000 you would you pay 3% (£3,750) stamp duty on the first £125,000, then 5% (£6,250) on £125,000 to £250,000 and 8% (£40,000) above £250,000 making a total of £50,000 in SDLT.

You can find out the exact stamp duty by using the SDLT calculator on the www.gov.uk website by clicking here Our advice – act now!If you are looking to buy a second home or a buy to let investment there are considerable savings to be had if you act now. Also if you are considering placing your property on the market, then it would be advantageous to act now rather than later.

We have years of experience in the property market – so If you would like to find out more information on SLDT you should contact us today!

The tax relief changes that will affect landlords in 2017

The big focus for most landlords recently has been the Stamp Duty changes that will come into place from April 1^st. However, the tax change being put in to place in 2017 that could have a much larger affect on landlords in the UK.

From April 2017, the government has announced that landlords will no longer be able to offset mortgage interest against their tax bill. To help, we decided to provide an overview of the changes and what your options are.

The change coming in 2017 Under the current regulations landlords can claim tax relief on their mortgage interest payments at their marginal rate of tax. This means that a basic rate taxpayer would receive a 20% tax relief, those at a higher rate would receive 40% relief and top-rate taxpayers could claim 45%.

From April 2017, landlords will no longer be able to offset mortgage interest against their tax bill. This means that when the change is put into action, the tax relief will be at a flat rate of 20%., effectively halving the relief and reducing profits for landlords paying above basic rate taxes. Those who pay a basic rate tax will see no change.

The affects of the change The Nationwide Building Society has provided an example of the potential result of this change for the typical landlord.

A landlord with a £150k buy-to-let mortgage on a property worth £200k with a monthly rent of £800, would have an annual net profit of roughly £2,160. Once the new system in in place, this net profit would fall to £960.

This is a quite a considerable drop in profits for most landlords and will leave many considering their options and whether to continue to invest in the buy to let market.

The options There are a few things you can try if you feel you will that your profits will be affected by the change.

The first of these options is to place your portfolio in a limited company structure. This allows you to pay corporation tax instead of income tax which is a lower tax rate.

Another option is to change to a short-term fixed rate deal for a lower rate of interest. However, these mortgages do come with more risk.

A third option is transferring the ownership of your properties to a spouse currently paying a lower tax rate. You must be careful that this transfer of ownership does not push your spouse into a higher tax bracket.

What we recommend With all of these changes affecting the market, it’s best to ensure you’ve got all the information you need to manage your investments efficiently. If you’re looking for assistance with the day to day management of your properties then you should get in touch. Whether you want to put your feet up or be hands on at all times, we can provide a service tailored to your needs. Call us on 01284 769598

Tougher Mortgage Tests on the Horizon for Landlords

Shortly after landlords were left reeling from the stamp duty rise, new Bank of England proposals will change the ways that landlords handle their properties in the buy-to-let sector.

Landlords are facing several new rules and regulations, with the latest being new curbs on their ability to borrow, as the Bank of England proposed affordability checks and interest rate ‘stress tests’ for those looking to buy a property for rent. This tougher lending criteria will make it harder for many to obtain a mortgage for their buy-to-let properties.

The Bank of England’s Prudential Regulation Authority (PRA), which monitors the soundness of banks and lenders, wants lenders to assess whether the monthly rental income from the property is enough to cover the mortgage, or whether the landlord has enough money – along with rental income – to keep paying the mortgage. The PRA also wants banks to test whether landlords can still afford the monthly payments on these loans if interest rates rise.

Until now, landlords have typically required a 25% deposit to get a buy-to-let mortgage. They also needed the rent to cover their monthly mortgage payments by 125%.There was some good news for landlords: if you are not increasing borrowing, the test will not apply.

So, why the change?

The new rules come amid fears that the booming buy-to-let market is overheating. Lending in this part of the sector has soared and could lead to the wider property market collapsing. Figures published by the National Associated of Estate Agents found that 85% of its members have seen a rise in the number of landlords flooding the market ahead of tax hikes being introduced.

Chancellor George Osborne has suggested that curbing buy-to-let will help more first-time buyers get on the housing ladder. It is hoped that the stricter lending criteria will reduce the amount of buy-to-let lending by 10-20% in three years’ time

10 things you should know about home insurance

Home insurance is one of those things you hope to never claim on, but if disaster strikes it can be worth its weight in gold. There are around 6.5 million homes that are under-insured, and It might not be a subject that plays on your mind every day but, whether you’re buying home insurance for the first time or due for a renewal on your existing policy, ticking off some pointers could make your life easier (and cheaper!)

1. Shop around
Do your research, shop around and compare prices. Mortgage providers often try to push borrowers to take out their home insurance however, despite cover being a condition of your mortgage, it doesn’t mean you need to buy it from your provider.

2. There are two types
Buildings insurance – covers the structure of your home, includes permanent fixtures such as kitchen units and bathroom suites. It does not cover the contents of your home.
Contents insurance – covers all manoeuvrable items in your home i.e. furniture, electrical goods, pictures.

Need both? Many insurers offer discounts for combined buildings and contents policies.

3. If you own your home – buildings insurance is essential
Buildings insurance will be a condition of your mortgage agreement. Remember, if you are purchasing a property to have buildings insurance in place from the date you exchange contracts and NOT the day of completion.

4. And if you don’t own your home – you don’t need buildings insurance
If you’re living in a rented property, it is the landlords’ responsibility to have buildings insurance in place.
If you live in a flat, it’s the entire building that needs to be insured. If you own a share of the freehold, it’s up to you and the other shareholders to arrange buildings cover.

5. Replacement cost of actual cash value?
You can choose to insure your home and belongings for either replacement cost or actual cash value. Replacement cost is the amount it would take to replace or rebuild your home or repair damages with materials of similar kind and quality, without deducting for depreciation. It’s important to insure your home for at least 80% of its replacement value. Actual cash value is the amount it would take to repair or replace damage to your home after depreciation.

6. Insure the rebuild value
The amount of buildings insurance your need is determined by the rebuild value of your home and not the market price. This is good as the rebuild value will most likely be lower!

7. Protect your valuables
If you own valuables such as jewellery, antiques, collections or high-spec electrical items, then these may not be covered under the basic terms of your contents cover. So check with your insurer and take out separate cover if necessary.

8. Consider accidental cover
Remember, accidents can happen – a glass of red wine over the carpet, or a fizzy drink spilt on the tv, these things can happen. You may think you’ll be covered on your home insurance, but you won’t necessarily. Accidental damage cover can be added to your contents policy.

9. What excess can you afford?
The same as with car insurance, most home insurance policies come with a compulsory and voluntary excess, and choosing to pay a higher voluntary excess can bring down the cost of cover.

10. Review your home insurance every year
Check with our insurer every year to ensure your policy provides adequate coverage. Also, don’t automatically renew with your existing provider, you could save yourself money finding a better deal elsewhere!

Top 5 tips on how to improve your kerb appeal

Looking to sell your home and wanting to give the best first impression possible? Maybe you just feel like freshening up the exterior of your home. Either way, we’ve got a great guide for you on improving your kerb appeal...

The Front Door
One of the most notable features of your property’s exterior and when done right can really make your home stand out from the crowd. You can put as much effort into this as you’d like depending on the amount of time you have and your budget. You could do as little as giving a good clean and polish or you could go all ways and give it a fresh new coat of paint and even add a custom house number to give it more of unique touch.

The Driveway
If you’ve been living in your current home for a while, there’s a good chance your driveway has seen better days. Over time, through natural wear and tear there is bound to be a crack or two, maybe a stain or even some weeds beginning to sprout through. Again, this fix is dependent on time and budget, but at the very least you can spend some time pulling out weeds. If you like to give it a full new lease of life then give it a thorough clean with a washer and look at replacing some of the slabs as it can make a surprising difference.

The Fences and Gates
If your property doesn’t currently have a low fence around the property then maybe consider having one installed, as not only does it give your property more definition, but it can also really separate your home from the main street making it feel a little more private.
If you already have a fence or gate to your property, it's worth touching up the paint and metal work to freshen it up a bit. Also, if the gate to your property squeaks, fix it, immediately. You don’t want any potential buyer’s first interaction with your house to be a squeaky gate that needs fixing.

The Garden
Once again this is another that you can choose to put some decent time and money into or go a simpler route, but having some greenery out front is a must. The minimum amount of work required for your front garden is to ensure the grass and hedges are cut on a regular basis and any unwanted vegetation is removed. If you’d like to go the extra mile, then you could plant a few colourful flowers and fix any brickwork that borders the garden.
If you don’t have a front garden, then it's worth adding a bit of green to the front of your home. Maybe purchase a few flower pots or pick up a couple of hanging flower baskets.

The Features
Another way to make your exterior stand out is by adding a feature or two. You don’t have to go too crazy and start trimming hedges in the shape of animals, but adding a unique item to give it character can go a long way. These features can be quite varied and you can be as creative as you like, from bird baths to sculptures to landscape lighting, features like these can give the home some real personality.

Viewing Properties

When it comes to buying property it’s important that it’s done the right way. Not only will this be your home for many years, but it’s also an investment, so while you want the perfect place that fits your criteria, it’s also important to remember that this could be an asset you’ll look to sell in the future.

With this is mind, it’s essential that when you view potential properties you take the time to be thorough and get all the information you can.

To help make sure you don’t miss a thing and make the right choice when you do eventually make an offer, we’ve compiled the following list of tips to view a property.

Don’t rush
We understand that this could be the 20^th house viewing you’ve been to in the last few weeks, but as said earlier, you could be living in this property for decades so don’t rush through this process. It’s vital that you spend close to 30 minutes exploring the property, asking questions and just getting a good sense of how the property feels. If you just wander from room to room, taking a few glances and only trying to spot glaring issues, there’s a good chance that you’ll miss the small issues that could eventually become big issues. Taking that little extra time will not only help you spot anything that needs fixing, but will also mean you’re much more informed when you come to make a formal offer for the property.


Take a good look at the structure
On first glance the property you’re viewing may seem quite solid structurally. However a closer look at the exterior or some of the walls may reveal potential problems. This is part of the viewing when it’s best to use your head and not your heart and treat this as an inspection of a building and not viewing of a home. Be on the lookout for hairline cracks, damp, broken tiles or guttering. If the current owner has made changes to the property such as an extension, make sure to do a double check in these areas to ensure their changes are structurally sound. If you do find any of the issues mentioned above, don’t be afraid to ask questions about how long it’s been that way or if the owner plans on fixing it.


Check all plumbing and electrics
A surprising amount of people forget to check these sort of things and just assume that everything is in working order. Sadly, this is not always the case and the seller is not obligated to inform you of any issues. Be sure to check the water pressure by running the taps and the shower and test the lights and check the condition of the power sockets as you go from room to room. Don’t forget to ask plenty of questions regarding such things as the boiler or any wiring that may need to be replaced. Old and faulty plumbing and electrics is not only costly to replace but is also dangerous, so make sure you’re fully informed on the condition of it all.


Think about how much space there actually is.
When it comes to property space is one thing you can never have enough of. Whether you’re looking to fit in that Queen size bed or you need somewhere to store all of your precious knick knacks you’ve collected over the years, space is incredibly valuable. What you have to remember is that while it’s your job to find the faults, it’s the seller's job to present the house in its best light. This means that they’ll do everything possible to make the room feel larger, whether that be using lots of natural lighting or in some cases removing pieces of furniture all together. You have to keep in mind the home is most likely a little more cluttered on a regular day and that your furniture could take up more room than the current owner. Think about how much room your items take up and then ask yourself if there is any room for expansion.


Take a walk through the area
When you’re buying a property you’re not just investing in that building, you’re also investing in the neighbourhood itself. If you’re first time buyers and looking to build a life in this new home, you have to ask whether the area is suitable for your family’s needs. Is there plenty of shops close by? Are you near a noisy main road? How do the local schools perform? How bad is the rush hour traffic? All of these are questions you need to ask yourself and investigate. It’s best to wander around the area for a short while in order to see how it all feels, after all, if you’re going to be here for some time, you need to feel comfortable.


Once you’ve taken a good look, take another and maybe another.
As we stated at the beginning, when it comes to buying property it’s best done the right way, but even when you do everything right, it’s always best to check things twice. No matter how thorough you intend to be there is always the possibility that you missed a couple of things the first time round. Most would advise visiting a property 2-3 times and at different times of the day if possible to see if you feel the same way each time. Buying a home can be very exciting and it’s easy to get carried away with it all, but it’s important to remain level headed, take a 2^nd and 3^rd look at it all and really analyse if this is the right investment for you.