Mortgage interest rates have been falling slowly, and with the recent announcement from the IMF (International Monetary Fund) that inflation rates are predicted to fall towards pre-pandemic levels, analysts suggest that UK fixed-rate mortgage rates could reduce significantly. The really good news is that this could take effect in a matter of months. Forecasts have predicted that interest rates were due to start falling in 2024, with a further reduction in 2025, and this announcement simply speeds up that process.

Why are mortgage interest rates falling?
In the later stages of 2022, interest rates rose significantly, and the recent increase of 0.5% is believed by economists to be the peak of the rise. This creates confidence in the banking sector, so much so that mortgage interest rates are falling below 4%.* Economists are also predicting inflation to fall in the coming months, which will also help reduce interest rates.

House prices up to now
Average house prices increased by 5.5% in the year to February 2023.** This is a very healthy growth rate, as it is stable and not too fast. While there have been upward and downward fluctuations and rapid growth in recent years, house prices have spiralled upward due to extremely low interest rates and high demand.

What impact will lower interest rates have on house prices?
With house prices predicted by many analysts to start increasing in 2024. And in light of the IMF’s recent announcement, it stands to reason that house prices should start rising sooner rather than later. The good news is that if this happens, it should be at a moderate rate, and with a bigger choice of homes on the market and with a remaining overall shortage of homes, the housing market is built upon good foundations. But this begs the question: Should all of this encourage you to move now?

Is now a good time to buy?
The evidence suggests that now is a great time to buy. House prices are stable. And are set to rise sooner rather than later. There is a beautiful choice of homes on the market in stunning condition. Starter homes are holding their value really well, and if you want something bigger, the chances are you will get a good discount on a large home. Add to this the rapid accumulation of equity in recent years and the buoyant spring market that will remain so through the summer. This further increases the variety of properties coming to market.

Ask yourself, What's more important to you: money or happiness?
It’s easily done! You get tempted and swayed by all the talk in the media about interest rates, the cost of living, and so on, and you end up sitting on the fence. You think you will either save a fortune or make lots of money by waiting to see what happens. The truth is, there are so many more important reasons for moving. Your motives will be unique to you. Maybe you need more space for a growing family, maybe you fancy a change, downsize, or love the idea of living in a certain location. Ultimately, it comes down to finding your happy place. Can you really put a price on that?

Are you interested in your perfect home finding you? Browse our properties today.

Zoopla*
GOV.UK**

 

Whether you are renting or letting a property, you have probably at some point had to decide which route to take. Perhaps you are still making up your mind and are not sure which road you want to go down. Let's start by taking a closer look at the pros and cons of both short-term and long-term tenancies for landlords and tenants.

What is a short-term tenancy?
Typically, a short-term tenancy is a tenancy that is less than six months. Holiday lets are usually up to 31 days.

Advantages of a short-term tenancy for landlords
As a landlord, you can enjoy more flexibility, perhaps choosing to let your property to holidaymakers for some of the year while at other times letting it on a short-term basis. If your tenants become problematic, then at least you are not tied into a long-term contract. Typically, you can charge a little more for a short-term let and more again for a holiday let.

Advantages of a short-term tenancy for tenants
If you are a tenant, then you are not tied into a long-term agreement, which, if you work on short-term contracts in various locations, may suit you perfectly. For some people, the principle of being restricted to one property for a long period of time is not appealing. The overall cost of renting for the duration of the contract will be less than renting for longer. That said, you will then need to find another place to rent at the end of the term of the tenancy.

Disadvantages of a short-term tenancy for landlords
You may find that your property stands vacant, which means that you could reduce the profitability of your investment. Your property may require more attention and time in terms of maintenance, advertising, and the time it takes to find new tenants. In some cases, mortgage providers may choose not to lend to you as your rental income may be considered less stable than that of a long-term tenancy.

Disadvantages of a short-term tenancy for tenants
Lack of long-term stability can be unsettling and stressful, and taking time out to find your next home can be time-consuming. Added to this, the higher costs of short-term lets plus the shortage of rental properties currently available makes acquiring a long-term tenancy a more attractive option.

What is a long-term tenancy?
A long-term tenancy is usually based on an annual tenancy, is a fixed-term contract, and is the most common form of renting.

Advantages of a long-term tenancy for landlords
This is a much more stable and predictable way to let your property, with better long-term stability and less time-consuming work when it comes to finding tenants. Banks will see you as less of a risk, which could increase access to funds. This means you could expand your portfolio more rapidly or buy a more valuable property, ultimately leading to a better return on investment.

Advantages of a long-term tenancy for tenants
Greater stability means it’s easier to plan your future. Putting down roots is important and is much better for all those practical things in life, including socialising and financial planning. Feeling settled is an innate human desire and leads to a more stress-free life.

Disadvantages of a long-term tenancy for landlords
Having less flexibility means that you have fewer options when it comes to diversifying into other markets. You may have to charge less than if you were renting your property as a holiday let, and if issues or repairs occur, you will need to fix them sooner rather than later.

Disadvantages of a long-term tenancy for tenants
Tenants renting on a long-term tenancy will not endure many disadvantages; even if you have to move before the end of your contract, in most cases, as long as you provide the correct level of notice, there are no financial implications.

Conclusion
Each person has different needs. However, it seems that unless you know for certain that you only need to rent on a short-term basis due to contract work, perhaps study or training, a house renovation, or holidays, a long-term tenancy is a more stable and predictable choice for both tenants and landlords.

Are you looking for a property to rent, or are you a landlord looking to let your property?

Get in touch to see how we can help.

 

You want your home to stand out, whether it’s first seen by your buyers in an image or from the kerb. That first glance is important. If the rest of your home is in great condition, the last thing you want to do is alienate potential buyers by neglecting the front of your home and creating the wrong impression.

The front door
If it’s wooden, give it a coat of paint and polish the metal work. If it’s really worn and damaged, consider replacing it. Sometimes darker colours will make your front door pop, so that when your home is viewed and welcomes potential buyers, they immediately feel good before entering your home.

The front lawn
Make sure the grass is green and trim. Use grass feed if there are any patches. Sweep and weed any paths or patio areas. If possible, use a jet wash to make your paving look like new again.

Clean your widows
Get your window cleaner to give your windows a good clean in time for viewings and pictures for your agent. Don’t forget your window frames; make the front of your house pop with the right colours; and repair any blemishes.

Add some paint
The front of your home will benefit from a coat of good paint. Check the pointing. Perhaps your home does not need any paint; don’t forget gates, fences, walls, and guttering. The little things all add up to make a big impact.

Flowers and plants
At this time of year, adding some vibrancy with a dash of colour will really help your home stand out. Less is more, and not everyone is passionate about the same flowers and plants, so be subtle and keep what you have in pristine order.

Furniture
Even if you have a small, terraced house with little space out the front, a small seating area can add to its appeal. For larger homes, create a vision of outdoor living that is just a taste of the splendour that will later appear, perhaps in the outdoor living space located at the rear of your property.

Conceal wiring or utility boxes
If possible, don’t allow all your hard work to be affected by unsightly wiring or an electrical, gas, or rusty mailbox. Get in touch with your energy supplier if it needs replacing, or simply give it a good cleaning.

Summer symmetry
Some things work best in pairs, and when it comes to making an entrance, a pair of ornamental flowerpots on each side of the door can do the trick. Lighting can also have the same effect as flower boxes.

Finishing touches
Hanging a summer wreath can really add some colour and show your new buyers that you love your home.

Will all of this add value to your home?
Yes. Anything that makes your home appear cared for and loved will help other people fall in love with it. While it will not drastically increase the value of your home, you may be pleasantly surprised.

Contact us today so we can guide you to the front door of your happy place.

 

If you let a holiday home, you may already be fully booked for the summer. Holiday homes are in big demand, both to buy and rent. Perhaps you are in the fortunate position of owning a holiday home for your own personal use, or maybe you do both. Holiday homes, like any other home, should be special places where happy everlasting memories are made, but unlike your private dwelling you can’t put repairs or maintenance on hold. You want to make sure everything is in tip-top shape to get those glowing reviews, which will help fill your diary far into the future.

Create a check list
It pays to be organised when it comes to property. Inspect your property regularly. Start with the basics and create a to-do list. Using your phone is a good tip because you can take pictures of repairs or issues that need addressing to accompany your notes. If you need to hire help, this saves a lot of time if you live a good distance from the property’s location. Whether you keep notes on your phone or on paper, create sections. Needless to say, you want everything to be as perfect as you can get it. Check everything, from the garden to the bathroom. It’s most likely that you will employ a cleaner. Remember to listen to the feedback of your guests, perhaps by reading the comments book.

Safety checks and insurance
It’s really important to keep on top of any safety checks and to have the correct certification, from gas safety certificates to electrical testing. You want your guests to have a great time, but their safety is paramount. It’s important to take out the right level of cover. From public liability insurance to building and contents cover, you don’t want to invalidate your policy by not keeping up to date with safety checks.

Make your guests feel welcome
Making a good first impression immediately puts your guest in a great mood. Chocolates and a bottle of wine or champagne, depending on what level of the holiday market you are entering, are always a great way to make your guests feel welcome. Simply paying attention to detail and keeping your holiday home in good order is equally important. A good play area for young families, polished glasses, or a hamper when everything is spotlessly clean, drawers full of good cooking utensils, and a nice corkscrew all add up to make your holiday home sublime.

A managed holiday let service
Holiday lets can be extremely lucrative. At the height of the season and in many locations, all-year-round revenue can be very strong. You can charge significantly more for a holiday let compared with letting a rental property. This could leave room in your budget to use a managed service, which could take care of everything from bookings to maintenance, cleaning, and gardening. Holiday homes involve more work with your guests changing so frequently, so for many, this service is a must-have.

Finding the right holiday home
Finding the right holiday home for business purposes or for you and your family to enjoy starts with a good agent. Holiday homes today are not always idyllic cottages peering over the deep blue sea. From urban locations in the form of flats, apartments, and houses to country retreats, the right homes appear in all shapes and sizes. The sky is the limit when it comes to choosing a property, and that sky does not always have to be blue. Probably a good thing!

Browse our properties to find your holiday home this summer.

 

Making a house your home is important and the great advantage of renting is that you will never be asked to fork out thousands on costly home renovations. Often, it’s the little things that you can do that will make a big difference. The number of people choosing to rent is increasing, and today there are so many affordable and interesting ways to make the most of your home.

Talk to your agent
A good first step is to talk to your agent or landlord. Many will be perfectly happy for you to paint or change wallpaper, so long as the work is carried out to a good standard. Others may not permit this but allow you to add shelving or improve the garden. It’s always best to check specifically on whatever it is you have in mind to improve.

Flowers, plants, and herbs
Keeping your home in good order, keeping it clean, and paying your rent on time will keep your landlord on side. In time, that could lead to more freedom to make the changes you desire. Adding a few plants to your sitting room and bathroom or your favourite flowers to the redundant fireplace at this time of year will add vibrancy. Why not grow some of your preferred fresh herbs in the kitchen or a tomato plant and fill your home with delightful scents?

Lighting
The choice of lighting available on the market today is endless. From outdoor solar lanterns and free-standing table lights for inside, to scented candles for either. Get creative and let your imagination run wild; use lighting to create mood and atmosphere for relaxation or task lighting for when you need to focus.

Garden
Perhaps it is stated in your contract that you are responsible for the garden. If so, you may have more room for creativity. Plant your favourite plants and add some sculptures of pieces that you love. Hang some lanterns or grow some of your favourite fruits in pots so you can take them with you if you decide to move.

Create an outdoor living space
If you have a balcony, backyard, or substantial garden, add vertical gardens filled with the flowers, fruits, herbs, or plants you love. Add some candles, outdoor furniture, a pizza oven, a firepit, or a barbeque. Perhaps yoga is your thing, and you want to add a small portable water feature to complement the sound of relaxing music.

Furniture
If you are buying furniture for your home, it’s always a good idea to think about how adaptable it is. Neutrally coloured, modular furniture that can easily be rearranged for your next move or to simply change with the seasons when you fancy moving things around for summer.

Wallpaper panels and wall hangings
If you can’t change the wallpaper, then simply make or buy some wallpaper panels or wall hangings. Decorated to your design and tastes, they will make a big impact and are a cunning way to hide any imperfections.

Prints and pictures
Hanging photographs of special moments or places you are passionate about is a relatively inexpensive way to add something special to your home. A perfect sunset in a place that you love, captured in a photograph, will brighten up your walls. When combined with the right lighting, such details add serenity to your mood and increase your feelings of well-being.

Mirrors and murals
Mirrors will add light and space to your rooms, making them appear larger. Experiment with the various styles of mirrors now available or place them on opposite walls and enjoy the effect! Murals work well in children’s rooms, making a big impact without any permanent changes.

Add a bit of you
This is really important; your home, whether it’s rented or owned by you, should tell the story of your life. Display your passions, collectible pieces from your travels, and the flowers and colours you love. There is no right or wrong when it comes to decorating; simply make it work for you, and others will most likely love it too.

Renting a new property does not take long.

Browse our properties to find your perfect place today.