Your August newsletter from David Doyle

How has Brexit created opportunity in the market?

Data released from Rightmove has shown that agreed house sales last month rose 6.1% from the same point last year, with every single region showing improvement. Considering the current climate of Brexit, could this upsurge in the property market actually be attributed to the relative political instability, rather than in spite of it?

It’s been another period of gigantic upheaval in British politics in regard to Brexit, but months of uncertainty have seemingly encouraged a spike in activity in a rush to beat the currently unstable deadline of October 31st. Buyers and sellers are therefore making something of a concerted effort to complete their property transactions within the next quarter.

Supporting this microcosm of activity in the market is the number of UK mortgage approvals which have also risen significantly. Approvals for house purchases rose to their highest level for two and a half years in July, with Howard Archer, chief economic adviser to the EY ITEM Club, stating that: “It is possible that mortgage activity is being lifted by some people looking to complete their house purchases before Brexit occurs on 31 October, given the major uncertainties surrounding the UK successfully leaving the EU with a deal.”

Speaking prior to recent developments in the House of Commons, CEO of reallymoving Rob Houghton says: “The outlook for the property market over the next three months is remarkably positive, considering the current political and economic context. The recent election of a new Prime Minister who is committed to leaving the EU on Halloween even if a deal isn’t reached could mean clouds are gathering on the horizon, but any impact on prices in the short term is likely to be mitigated by the urgency of home movers to complete deals in the next three months.”

The Hemel Triathlon is coming on Sunday 29th September

Join us on Sunday 29 September for the Hemel Hempstead Triathlon. Gear up for swimming, bike riding and a 5km run!

Click here to read The Hemel Triathlon is coming on Sunday 29th September.

The Hertfordshire Wedding Fair

The Hertfordshire Wedding Fair, St Albans is Hertfordshire's premier wedding fair and is the county's oldest county wide wedding fair.

Click here to read The Hertfordshire Wedding Fair.

Property performance over the last decade

Now that we are in 2020, looking back at the previous decade can help to shine a light on what we are to expect next in the property market. New research from Proportunity – a new equity loan startup firm – has shone a light on which properties have increased the most in value from 2010 to 2020.

Surprisingly, terraced properties have seen the greatest rate of growth nationally – with an average growth of 3.05%, compared to 2.9%, 2.35% and 2.33% for semi-detached, flats and detached properties respectively.

London has seen the highest rate of growth with the region’s averages outperforming most other parts of the country, with terraced properties in the capital of the country proving to be an outstanding investment decision. In the year 2000, the average price for a terraced property stood at £127,833 in London, however by the end of 2019 this had risen to £499,178 – a startling 290% increase.

“The 2010s were marked by the after-effects of the financial crisis, and then by Brexit uncertainty,” Vadim Toader, founder and chief executive officer of Proportunity, says:

“Despite these headwinds, we have largely seen growth across the board, but the clear winner is terraced housing – or more specifically, terraced homes in London – with buyers likely attracted to their historic characteristics and charm, as well as their limited supply, compared to new builds.”

If you are considering investing into a property this year, then there are three key aspects to keep in mind in order to be successful;

1) Plan for success; know exactly who your audience will be when you let the property out, or sell it on.

2) Gain a mortgage in principle; this will enable you to move quickly as investment properties will often have heightened levels of competition around them.

3) Work with a good estate agent; a reputable agent will be able to advise you on everything from the right area to invest in, to the potential yields you will be able to reap.

Region Name	flat CAGR 2010-2019	terr CAGR 2010-2019	semi CAGR 2010-2019	detached CAGR 2010-2019
East Midlands	0.74%	1.78%	2.11%	2.25%
East of England	2.62%	3.47%	3.59%	3.07%
London	4.93%	5.07%	4.33%	3.06%
North East	-0.50%	0.08%	0.47%	0.67%
North West	-0.04%	1.07%	1.43%	1.21%
South East	2.49%	3.40%	3.41%	2.84%
South West	1.34%	2.19%	2.35%	2.18%
Wales	0.50%	0.90%	1.01%	1.20%
West Midlands	0.65%	1.52%	1.96%	1.91%
Yorkshire and The Humber	-0.12%	0.91%	1.30%	1.32%
England and Wales	2.35%	3.05%	2.90%	2.33%

Saving for a house deposit

For most of us, the most expensive thing that we ever purchase will be a property, and the prospect of saving for that all-important deposit can be rather daunting. However, the key to saving for that lump sum is simply good financial preparation and making a few changes to your outgoings which should reap big rewards. Take a look through our handy hints and tips and you’ll be in that new home in no time.

Speak to an expert
If you have made the decision that you are ready to buy a property, then an excellent first point-of-call would be to speak to an expert, be that a financial planner, mortgage advisor or a savings expert in your bank. It is important to get a detailed overview of your personal finances and speaking to an industry expert will provide you with tailored advice which suits your lifestyle, as well as being given some proven strategies to help you to save. Whether you’re a saver or a spender, it is important to get in to the right mindset to save and starting the process by speaking to an expert is a sensible first step.

Make a move
With the cost of renting often leaving many with little money to save for a deposit, making a temporary move can be a key factor in achieving a sufficient deposit. More and more people are moving back in with their parents for a period of 6 to 12 months; often paying no rent and economising through saving on laundry and food costs. If living with your parents is a truly unbearable prospect, then finding a lodger to live with you will also aid you in that all-important quest for a deposit.

Know your options
Did you know that you could buy a property with just a 5% deposit? Knowing what schemes and grants are out there will most certainly help you to achieve a house deposit. The Help-to-Buy shared equity scheme allows you to purchase a home with as little as 5% deposit and the government or developer (this is available for new homes only) lends you the rest of the deposit. Shared ownership schemes involve purchasing part of a property and then renting the rest, and although you would still need a deposit to get a mortgage for the part of the property you are buying, the deposit would be considerably lower; for example, to get a 90% mortgage on a 50% share of a £150,00 property, you would need only £7,500 for the deposit.

Make your savings work harder
Naturally, any changes you make will have one similar goal – to help you in saving more money more quickly and making these savings work for you should be a top priority. Open an ISA and use your yearly cash allowance so you don’t pay unnecessary tax. If you don’t already have one, open a savings account and save what you can, even if you think the amounts you are saving are inconsequential, they will soon amount to a worthwhile value. Shop around and see which bank offers the best interest rate on your savings, don’t just take one out with your current banking provider as finding a good interest rate could go a big way to helping you reach your goal faster.

Saving for a deposit can seem like a tall order, so making some sound financial decisions will be the key in to being approved for a mortgage and taking a step on to the property market. Get yourself into the right mindset where you are aware of why you are making some financial changes, remember that they are all short-term, and you’ll see those savings growing faster than you could have ever hoped.

How to set achievable goals with your home

Setting New Year’s resolutions is a long-lived tradition, however, this year is set to be slightly different.

Due to the pandemic, goals – such as travelling the world – will have to be put on hold due to restrictions.

As a result, many people are looking for achievable goals and challenges closer to home, and renovating your property is just one area of our lives we have the power to transform in 2021.

Here's how you can get started with your renovations...

Make a schedule

Before you get ahead of yourself and want to change everything in your house right away, take a step back and create a plan you can stick to.

This will ensure you don’t take up too much time focusing on everything at once, allowing you to remain stress-free and organised.

Create a budget that doesn’t pinch every penny

Everyone loves to save money where possible, however, if your budget is too stringent, this could cause your goals to fall short.

When renovating, you want to aim for the grand picture in your head as much as possible, and penny-pinching won’t help at all.

Take the time to carefully save so you don't find yourself struggling unnecessarily, and focus on the little things that can be changed without too much expense.

Have goals that are measurable

When starting a project, it is natural to want to see immediate results.

Depending on just how much work is required, you might want to consider planning out key milestones that will signal when the next phase of development has been reached.

That way, you won't lose heart from any potential setbacks or delays.

Ensure you can’t forget your resolutions

Plaster reminders of tasks you need to complete all over your home, meaning you can’t miss or avoid them.

Whether it’s a big A3 poster or a post-it note on the computer, this will keep your goals fresh in your mind.

For more property ideas or inspiration, talk to our team today about the renovations that add real value to your home.

Family film club: Gnomeo & Juliet

As a part of our Family Film Club, join us at The Hat Factory Arts Centre for a film screening for all the family to enjoy.
Film: Gnomeo & Juliet (2011)

Date: 20th August 2022

Click here to read Family film club: Gnomeo & Juliet.

Tenant home insurance guide

If you’re planning to rent soon, you might be focusing on the upcoming move, not tackling paperwork. The good news is, you won’t have to factor in building insurance – but you should still protect your belongings from theft, damage, and other hazards.

The easiest way to do this is by taking out an insurance policy designed for tenants. It’ll only cost you £57 a year on average* and will usually cover:

Your personal belongings, furnishings, and appliances
Accidental damage to your TV, computers, and devices
Changing the locks or fitting an alarm if your keys are lost or stolen
Money stolen from your home, including cash and cards

Accommodation if your home is affected by fire or flooding
Legal fees in case of a disagreement between you and your landlord

High-value items such as bikes and portable equipment may also be covered up to a set value, or you can add these items onto your policy for extra peace of mind. In addition, a tenant’s liability insurance can protect your deposit by paying for damage to the landlord’s property and furnishings.

Although there’s currently no legal requirement for renters to take out insurance, your tenancy agreement may stipulate that you should. Either way, the cost of replacing items often far outweighs the small annual fee, especially in the event of fire or flooding.

Many providers even allow you to pay monthly, and you can always shop around on the comparison sites. By insuring your belongings from the start, you’ll know exactly where you stand in the event of a mishap or disaster – just check the fine print first!

We’re always here to advise tenants. We’re always here to advise tenants. We’ll help you find your perfect home, simply get in touch and let us know your requirements.

*Data from the Money Advice Service

How the government intends to help first-time buyers

In a recent speech, Boris Johnson committed to helping first-time buyers overcome the hurdles faced when securing their first property. As it stands now, the biggest issues first-time buyers face are the strict mortgage lending restrictions, the need for a high deposit, and rising house prices.

As part of the speech, Boris Johnson stated that more than 50% of renters could afford a monthly mortgage payment. However, other factors mean that only 6% could immediately access a FTB mortgage.

He said: “First-time buyers are trying to hit a continually moving target. By the time they’ve put aside money to secure their mortgage, prices have risen, and it’s no longer enough.”

“And of course, the global rise in the cost of living is only making life harder for savers. So, we want it to be easier to get a mortgage. Reporting back this Autumn, [the review] will look at how we can give our nation’s aspiring homeowners better access to low-deposit mortgages.”

Are you a first-time buyer looking for property advice? Get in touch today.

*Rightmove

How to improve your home's EPC rating

Upgrading your property to become more energy-efficient can make long-term financial sense in terms of reducing bills. But it’s also important if you’re planning to rent out your home in the future. That’s because new legislation means that landlords will only be allowed to let properties with an EPC rating of C or above from 31st December 2025.

Of course, an energy-efficient home will reduce you or your tenants’ carbon footprint – a win for the environment too. If you don’t already have an EPC rating, you can arrange for an accredited energy assessor to calculate your energy usage per square meter.

They’ll consider a range of factors, including your boiler’s efficiency, the type of heating system you use, and the quality of your insulation. The amount of money you’ll need to invest may depend on the condition of your home. For example, while the average UK dwelling is rated D, new builds are 60% more efficient on average than older houses.

If your property has limited insulation, this is a great place to begin. Filling your wall cavities – which only takes a few hours – can reduce heat wastage by 35%, while insulating your loft can prevent a quarter of your heating from leaking through the roof.

Spending extra money now on a modern boiler and installing double or triple glazing can also make a difference to your bills. Cheaper options include sealing off gaps around your doors, windows, and floorboards, and replacing your bulbs with low-energy alternatives.

Worried about financing the improvements? Under the Boiler Upgrade Scheme, you could get £5,000 towards buying and installing an air source heat pump or biomass boiler. The Energy Company Obligation scheme will also pay for new boilers, glazing and insulation if you’re on qualifying benefits, such as Universal Credits.

In case you’re wondering, a high EPC rating can improve the value of your property – whether you’re intending to sell or let.

Whatever your situation, we’re always on hand to offer advice. Contact us today to discuss your EPC or book a valuation.

Bringing the outdoors in

Nature is fantastic for our mental and physical health, and being around plants and animals has many proven benefits, such as reducing stress and increasing oxygen supply.

As society becomes more conscious about living in harmony with the natural world, homeowners, architects, and interior designers everywhere are exploring the concept of biophilic design.

Never heard of it? Biophilic literally means ‘the love of living things’, and it’s all about lessening the divide between artificial environments and the natural world by bringing in the abundant greenery and materials available beyond your front door.

The pandemic created a change in lifestyle and priorities that prompted many of us to appreciate fresh air and green space to a greater degree. How you replicate that freedom inside your home depends on your budget and the amount of time you wish to invest.

On a macro level, this might mean creating a garden or sunroom either by repurposing a space or extending into the garden. Alternatively, large picture windows and glazed doors are great for framing a view and capturing sunlight.

Not much to see outside? If you have a garden or terrace, you could vary your planting scheme to encourage birds and wildlife or set up nesting boxes and feeding stations. Window boxes and windowsill herbs will also help to blur the line between inside and out.

Small details within your home can make a big difference too. Use natural materials, fibres, colours, and prints/patterns whenever possible, whether you’re refitting your kitchen or sprucing up your décor. Of course, if you can introduce plants or even a living wall somewhere in your home (or a courtyard), even better.

Improvements that appeal to buyers' desires can also increase your home's saleability. Even a few tweaks can help viewers appreciate your property's lifestyle, so think light, fresh, serene, and you can’t go far wrong.

Our team can provide an up-to-date valuation that reflects any recent changes you’ve made. We’re also happy to discuss specific ideas to maximise your asking price. Contact us today to book a face-to-face consultation.

A basic guide to decorating

Flick through the pages of any magazine these days or scroll through the popular Pinterest app and you’re likely to see endless images of chic properties with timeless décor. For those of us that are blessed to be able to colour-match and accessorise effortlessly, this is an entirely attainable vision; however, for the rest of us who are a little more challenged in the decorating department, it can be tough to know where to start. Read through our basic guide to decorating and we will provide you with some guidelines which are sure to help you turn your home in to a real page-turner.

Start scheming
So, you have decided to revamp a room, you’re excited and you just want to get the paint brushes out but hold on…you need to take a moment and think about what you really want! Taking a moment or two to plan will help to ensure that the effort you’re going to is really worth it, and having an overall concept will hold all of the interior elements together. Ask yourself what you like and dislike about the room currently and how you want the room to feel - cool and trendy or warm and welcoming? These simple questions will help you to focus in on how you’d like the end result to be and using apps such as Pinterest or Instagram will help you to decide on overall concepts. Creating a mood board for the room will help to streamline your ideas and will serve as a reference throughout the entire decorating process.

Stay in neutral
It may seem like a safe or unimaginative option, but neutrals are timeless when it comes to decorating. When you have a neutral palette to work with, you can layer colours and textures on top of the basic colour scheme in order to achieve your desired look. With new trends popping up seemingly every other day, having a neutral colour scheme allows you to easily change the feel of your room simply by updating the accessories and soft furnishings. You can also add in vibrant pops of colour to lift your room when using a more neutral scheme, with accent pieces such as side tables and upholstery offering some interest in to your colour palette.

Softly, softly
Soft furnishings can put the va va voom in to your room! Having strong accent pieces, as well as coordinated soft furnishings such as curtains, throws, pillows and rugs create a more coherent and cohesive atmosphere in a room. Rotating which soft furnishings you have in your room seasonally works really well to make your room feel up-to-date and contemporary; for example, using a blue rug and pops of yellow during the longer winter months, or some glittery cushions for the festive period. These pops of colour and print will have the desired outcome of a tasteful and chic room.

Simplify
Don’t be scared to leave spaces empty in your room. Horror vacui, a fear of empty spaces, is evident in so much of today’s culture with a tendency to want to display all of our knick-knacks throughout our homes. When you have gone to the effort to stylishly decorate your room, don’t ruin the hard work by then adding in too many objects; instead, let your decorating do the talking for you. If you want to display some of your own items, then ensure to group them and use the rule of thirds; group three objects together in a display rather than two. Groupings of objects which vary in heights, shapes and textures but are related to one another are the most effective for displays; for example, grouping three candles which are different heights but are the same colour.

When renovating a room, it is easy to feel overwhelmed, which is frequently why we shy away from decorating. However, we would recommend taking your time, planning your renovations carefully with a budget and enjoying the process – updating your home will add value to your property, after all, as well as giving you a beautiful home to relax in after a tough day at work.

First time buyers' guide to making an offer

If you’re a first-time buyer and have begun the hunt for your first home, you may think that once you’ve found the right one you simply offer what they ask for; job done! However, when it comes to making an offer on a home, there’s a bit more work that should go into it than simply offering the price advertised.

You need to be confident when making an offer that you’re not going to be stung by an inflated asking price or take yourself out of the running by offering too low. To help you prepare, we’ve put together the following information to help you through this stage of the home buying process.

Get some advice
The first step and arguably most important step you need to take is speaking to an expert. If you’re a first-time buyer, then you probably don’t have a wealth of knowledge on how the market works and what you can and can’t afford. Get in touch with a mortgage advisor, get informed on how it all works and more importantly, find out what your price range is so when you do make a formal offer you can do so with confidence.

Research the local market
Once you know how much you’ll be able to spend, it’s time to get a better understanding of your local market. The more research the better. Take a look at what’s up for sale and find out what your budget will get you in each area.

Build a list of key features that your home will need, such as the number of bedrooms or a driveway. The chances of you moving into your dream property with your first move are somewhat slim; however, it’s important that you know what you’re looking for and how much it will cost you in each area.

It would be wise at this point to get in touch with a local estate agent. You can do as much research as possible, but a good local agent will always be a benefit as they will know the market like the back of their hand. This means that they can fill you in on what to expect from vendors and hopefully help you avoid any pitfalls.

Get out there and book some viewings
Now that you’ve done your research on what you want, what you can afford and what the market has to offer, it’s time to book some viewings and get out there. Things can move very quickly in the property market, so your previous work and research leading up to this point will come in handy as there’ll be no time wasted travelling to unsuitable areas or over-priced properties.

While viewing properties, be sure to check out the building's structure and not just its décor. Check for any damage such as cracks in walls or damp. Make sure you understand exactly what you’re getting into and have a good idea of the current state of the home as it can help form your offer.

When you find the right home, be ready to act!
If you’ve managed to find the right home, then it would be best to act quickly as there’s a good chance you’re not the only one eyeing up that house. If you’re ready to make an offer, consider a few things before doing so. How much do other similar properties go for in the area? Does the property need some repairs? Have house prices dropped slightly since the home was first put on the market? We’d all love to knock a few thousand off the asking price, but the seller isn’t going to make such a concession easily, so if your offer is lower than the asking price, you’ll need to demonstrate why.

The Final Steps
Now before you finally put your offer on the table, try and organise all the other pieces of the puzzle beforehand so you are ready to go as soon as it’s accepted. If you’re a first-time buyer then one of your major benefits is that you don’t have to organise selling your own home, but if you can organise such things as surveys and solicitors then it’ll make the process much smoother.

Puppet Theatre: Beastly Belle

Be charmed and surprised by a new twist on an old tale, inspired by the iconic era of 1920s and 30s cinema.

Click here to read Puppet Theatre: Beastly Belle .

The Serpent's Tale, hosted by Water Gardens

Join the wild and wonky May Queen to discover The Serpent's Tale - an original play on Saturday 28th September.

Click here to read The Serpent's Tale, hosted by Water Gardens.

Should you pay off your property's mortgage early?

New research from financial services firm Hargreaves Lansdown has shown that one in six of us who have purchased a property will either be over 65 by the time the mortgage is fully paid off, or the loan will never be fully paid off. The question stands, therefore, as to whether you should pay your mortgage off early or not?

As the average age of homeowners creeps upwards, and first-time buyers are entering the marketplace beyond 30 years old, the prospect of entering into retirement with a mortgage still to pay is going to be a reality for many. Research conducted by the Financial Conduct Authority supports this notion, with the FCA forecasting that 40% of first-time buyers in 2017 would still be repaying their home loans at 65.

First and foremost, do your sums to see whether you have anything to worry about in the first place. If you are going to be receiving a healthy pension anyway, then the prospect of continuing mortgage payments may not be anything to worry about. On the other hand, if you are going to be on a lower income than you’re currently accustomed to, then mortgage payments may well prove to be a stretch. If this is the case, here are a few options to help you pay that mortgage off sooner:

Overpay whilst you can
Speak with your mortgage provider to see when your prospective final payment is, and use this to incentivise yourself to pay early when you can afford it. Many mortgages will not charge you for overpaying, instead embracing the higher payments so double-check with your provider and overpay in order to bring forwards that final payment date.

Consider remortgaging
With interest rates at record-low levels, many borrowers are now considering remortgaging in order to obtain a more favourable mortgage. Eventually, you will be moved onto your lender’s standard variable rate (SVR) if you do not remortgage or move onto a different deal during your mortgage term. Avoid these less favourable mortgage rates which will extend your mortgage term, and you could slice years off your repayment schedule just by switching providers or plans.

Reduce your mortgage term
Rather than overpaying on your current mortgage plan, reassess your financial status to see what you can really afford now. You will most likely be in a different economic position now to when you first purchased your property, and potentially able to afford higher repayments. If this is the case, and you are likely to remain in a stable position for the foreseeable future, then reducing your term and increasing your monthly payments is a guaranteed way to pay off your mortgage more quickly.

Help to Buy - what are your options for purchasing a home?

If you’re a first-time buyer looking to purchase a property, then you’ll almost certainly be aware of the Help to Buy scheme and its success in helping people get onto the property ladder. What you may not be aware of is how the scheme works, and how it helps buyers to secure deposits for homes that would otherwise be out of their reach.

With that in mind, we’ve put together a rough guide to how Help to Buy works.

Can you get a sufficient deposit together?
Most standard mortgages require a deposit of at least 5% of the value of the home you want to purchase. If you are able to get the capital required, then you may not need to apply for any scheme.

Equity Loans
If your deposit doesn’t stretch that far, however, never fear! This is where Help to Buy comes in. If you have a 5% deposit, you can apply for an equity loan for purchasing new-build properties. The Government will lend you up to 20% of the property’s price, but you’ll have to start paying interest on that loan after five years.

For example, should you purchase a £200,000 house, you’d pay £10,000 (5%), get a mortgage for £150,000 (75%) and the Government would loan you the remaining £40,000 (20%).

ISAs
If you’re still saving for that all-important deposit, then a Help to Buy ISA is available to you, with the Government adding 25% on top of the value of your savings, with up to 2.6% interest tax-free. A word of caution; if you’re considering this option, then you would need to apply for your ISA prior to 30th November this year. Click here to learn more.

Shared Ownership
If you can’t stretch your finances to be able to afford the entirety of a mortgage, Shared Ownership provides you with the opportunity to buy a share of your home (between 25% and 75% of the property’s value) whilst paying rent on the remaining share. You can also buy bigger shares in the property once you’re able to, offering you flexibility for the future whilst owning a significant stake in the home you wanted.

Purchasing a home doesn’t have to be beyond any first-time buyer. Speak to our financial experts about your Help to Buy options and find out how you can finally buy the property of your dreams.

Tales From Beyond the Grave - performance workshop

Enjoy a spell-binding performance which brings local history to life this Saturday at Rectory Lane Cemetery.

Click here to read Tales From Beyond the Grave - performance workshop.

Just A Cappella Singing Group

Just A Cappella is a mixed voice group, who love singing in harmony together and are friendly and sociable.

Click here to read Just A Cappella Singing Group.