Quickmove news

Future looks bright for park home industry

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The future looks bright for the park home industry, as experts are predicting a seventh consecutive year of growth in 2017.

Strong end of year sales indicate strong demand for both residential park homes and UK holiday lodges moving into the new year.

Worrying affordability levels in the traditional property market are driving more enquiries to the park home sector as homeowners strive to cut their living costs, live mortgage-free and utilise the equity tied up in their traditional bricks and mortar property.

Interest in UK holiday lodges is, of course, being largely driven by growing global security concerns and a weak pound. The UK is experiencing a huge growth in the number of British people choosing to holiday closer to home, which is driving sales for both personal use and as holiday let investment opportunities.

Quick Move Properties’ sales director commented: “We’ve seen a healthy and steady increase in the number of customers looking to purchase a residential park home or UK holiday lodge moving into 2017. There are many factors at play that look set to create sustainable and long-term demand for the UK park home industry.

“Homeowners are becoming disheartened by a lack of affordable property in the traditional housing market, and a park homes are becoming an increasingly desirable yet affordable alternative to a traditional bricks and mortar property. Of course, UK holiday lodges are also proving incredibly popular as a personal purchase and as a great investment opportunity, with many sites offering guaranteed annual returns of over 8% – a figure that many traditional investments simply can’t compete with in the current financial climate.”

If you’d like more information on purchasing a residential park home or UK holiday lodge, Quick Move Properties range of services could help you find your perfect home. Contact the team today on: 01793 840917 or email: px@quickmoveproperties.co.uk

Quickmove success

Quick Move Properties have helped many homeowners make their move this year

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Could 2017 be the year they help you?

2016 has been another hugely positive year for Quick Move Properties’ customers, with lots of homeowners enjoying a quick, guaranteed, hassle-free move thanks to Quick Move Properties’ part exchange and assisted move services.

Quick Move Properties are the UK’s largest and original independent property part exchange company. As an independent service provider they are able to buy a wide range of properties that may not be considered by traditional developer part exchange services. This year Quick Move Properties have bought flats, bungalows, terraced, semi-detached and detached properties. Unlike with a developer part exchange service, Quick Move Properties will also consider properties of any value. This year they have bought properties for as little as £47,500 and as much as £900,000.

Whether you’ve already found your dream property, or are just starting to think about your next move, Quick Move Properties could offer you a simple, secure and stress-free move. With around 30% of property sales on the open market falling through before completion, property part exchange removes all of the worry and uncertainty from a house sale.

Patrick Chambers, Quick Move Properties’ sales director, explains: “Property part exchange is a fantastic way to secure your next move. With no stress, no worry, and no danger of the sale falling through, we’re able to complete the sale on a date that suits you and your future plans.

“In the last year we’ve bought nearly £15 million worth of property and helped a huge number of people to secure their new homes without any of the stresses usually associated with buying and selling property.”

If you’re thinking about moving in 2017, call Quick Move Properties on: 01793 840917 or email: px@quickmoveproperties.co.uk to find out how their part exchange and assisted move services could help make this move the easiest one you’ve ever made.

Buy to let

5 mistakes buy-to-let investors make

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A buy-to-let can be a great financial investment, but there are several common mistakes buy-to-let investors make that stop their investment being as profitable as it might be. Here are 5 common mistakes buy-to-let investors make that should be avoided.

Not researching the area
If you don’t research the area you’re considering investing in thoroughly enough, you’re unlikely to know what type of property you should be investing in. Vacant periods are costly, and can make a buy-to-let investment completely unprofitable, so it’s important to ensure your property has broad appeal and will be in high demand.

Not researching the target market
The easiest way to ensure your property is in high demand is to understand your prospective renter. If you’re targeting family renters you’ll want to ensure any outdoor space is family-friendly, if you’re property is in a popular student area you don’t want to spend lots of money on a high-end finish. Know your audience and pitch your property accordingly.

Not keeping up to date with legislative changes
Recently there have been several changes that have impacted the buy-to-let industry. A 3% stamp duty hike, tax relief changes and new wear and tear rulings have all had an impact on buy-to-let investors’ profit margins. If you don’t keep up to date with legislative changes, you could well be landed with an unexpectedly high tax bill that could cripple your investment.

Not considering expenses when calculating your annual yield
When calculating your annual yield, it’s likely you’ll take into account any monthly mortgage payments, but there are several other expenses that should also be considered when working out how profitable an investment is likely to be.

Expenses may include:

  • Income tax on rental income
  • Administrative costs – this will include reference checks, inventories and drafting contracts and tenancy agreements
  • Appliance safety checks and servicing/maintenance
  • Energy Performance Certificates (EPCs) and property marketing costs
  • Letting agent/management costs
  • Any vacant period when rental income will not be generated – as a rule of thumb, you should anticipate at least month a year vacancy to allow for tenant changeover etc.
  • Monthly mortgage payments
  • Insurance
  • Additional 3% stamp duty when purchasing an investment property
  • You’ll also need to factor in Capital Gains Tax if/when you decide to sell the property.

Not researching alternative investment opportunities

A buy-to-let investment doesn’t necessarily mean a traditional residential property. Did you know that the average residential buy-to-let offers an annual return on investment of just 4.17% before expenses*? By contrast, some UK holiday lets could provide a guaranteed return of 8%**! The most profitable investment is not always the most obvious investment, so it’s important to explore all of the options available to you and think carefully about the profitability of any investment.

If you have a former buy-to-let property and like the idea of trading it in for a UK holiday let property, speak to Quick Move Properties today about their property part exchange service. If you’re interested in buying a UK holiday let as a new investment, Quick Move Properties have UK holiday-let properties available at sites throughout the UK. For more information, contact the team on: 01793 840917 or email: px@quickmoveproperties.co.uk

*Average residential buy-to-let annual return data taken from The Telegraph

**www.theretreatdevon.co.uk

Winter proof your home

Winter-proof your property

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Making the decision to winter-proof your property can save you time, money and a whole lot of hassle!

Following these few simple steps can help stop you becoming the victim of a property disaster this winter.

Resolve any drafts

Drafts make your home uncomfortable and add additional unnecessary cost to your utility bills. Resolve any drafts by sealing any cracks, and invest in draft excluders where necessary.

Book in a boiler service

No-one wants to be left without heating and hot water in the middle of winter! To minimise your risk of boiler breakdown, make sure you have your boiler serviced regularly.

Clear your guttering

Blocked gutters can cause all sorts of problems, including damp and structural problems, so it’s worth taking the time to ensure they’re clear of debris at the start of the season.

Get your chimney swept

It is estimated that there are over 7,000 chimney fires every year in England alone, many of them caused by a lack of chimney maintenance. Make sure you get your chimney swept at least once every fire-burning season (more frequently may be required, depending on fuel type) to ensure you’re using your fire or burner safely.

Check roofing

Checking your roofing and spotting any problems early could save you a fortune! When roofing fails it is often very costly to fix the exterior and interior damage caused.

Stand back and examine your roof, looking particularly for any loose or missing tiles, or any cracks or sagging to flat roofing. Any damp patches on ceilings are also a good indication that all may not be well with your roofing and is best investigated without delay.

Avoid burst pipes

Burst pipes can cause catastrophic flood damage. If you’re planning any winter getaways or Christmas breaks, it’s important to follow these simple steps to avoid any cold weather damage to your pipes:

Ensure pipes are well insulated, especially those in loft spaces and more susceptible to extreme weather conditions.
Keep central heating at minimum constant temperature of 15 degree celcius in your absence.
Leave your loft hatch open while you’re away to ensure warm air can circulate more easily and stop the pipes in your loft getting too cold in the absence of moving water.
If your pipes do freeze, thaw them slowly and gently – sudden thawing is more likely to cause cracks and splits.
Replace any damaged double glazing

Damaged double glazing panels can seriously affect the energy efficiency of your home, leading to lost heat and costly energy bills. Check your windows and door to check for any drafts or misted glass.

Insulate, insulate, insulate

Insulating your home is like buying it a lovely warm winter coat. Insulation can make a big difference to your heating bills and your Energy Performance Certificate (EPC) when you come to sell your property. Various government grants are available to help with the cost of insulating your property, so it’s worth doing some research to see whether you and your home qualify.

Park Homes

Could park homes solve the UK’s housing crisis?

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It’s widely accepted that Britain is in the midst of a housing crisis. According to the UK Housing Crisis Report, there are currently almost 1.7 million people waiting for social housing in England alone. And it seems the impact of the crisis may not just be personal and social, it also has the potential to cause significant instability to the UK’s financial wellbeing.

In a previous interview Mark Carney, the governor or the Bank of England, said: “When we look at domestic risk, the biggest risk to financial stability and therefore to the durability of the expansion [of the economy]; those risks centre in the housing market…There are not sufficient houses built in the UK.”

The government has openly admitted the level of crisis and estimated that an extra 250,000 need to be built each year in order to meet demand. Now, in a step to help them reach their target of one million new homes by 2020, they have announced that pre-fabricated homes will make up a bulk of the supply.

Housing and planning minister, Gavin Barwell, explains: “Offsite construction could provide a huge opportunity to increase housing supply and we want to see more innovation like this emulated across the housebuilding sector.”

Commenting on the government’s announcement Patrick Chambers, Quick Move Properties’ sales director, said: “This announcement from the government offers a fantastic opportunity for the park home industry.

“We’ve long suggested that park homes offer an affordable way to address the UK’s housing shortage, and now the government has announced that pre-fabricated housing will be key to meeting its targets, the park homes industry has a great opportunity to be part of the conversation.”

Rise-in-number-of-retired-people-living-in-rented-properties

Rise in number of retirees living in rental properties

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It is claimed that 25% of retirees are now living in rental property, and that 18% of the entire renting population is now age 55-plus. It is also estimated that 40% of retired renters are former homeowners, so what’s the big appeal of renting in retirement?

According to data released by Prudential, 40% of those who sold up and moved to rental accommodation in retirement did so to pay off debt, a further 19% did so to cover the cost of a divorce or separation and 9% to boost their retirement income.

But Patrick Chambers from Quick Move Properties suggests that renting in retirement may be a less attractive prospect than it first appears.

Patrick comments: “Whilst renting might initially seem like a great option, especially with a lump sum from the sale of your former property in your back pocket, that lump sum can disappear surprisingly quickly. For example, to buy a two-bedroom bungalow in Portsmouth will cost you around £110,000. To rent a similar two-bedroom bungalow in the same location will cost you around £800 per month. Whilst the £800 a month might seem like a much better deal when you have £110,000 cash sitting in your bank account, that £110,000 will cover just over 11 years of rent at that rate. And then what? And that’s assuming you don’t spend any of the £110,000 on any other purchases or investments, and you don’t want to leave any inheritance for your loved ones. By contrast, if you purchase the bungalow for £110,000, the chances are that during the period you own the property inflation will see the price of the property rise, rather than fall, leaving you, or your loved ones, a nest egg of at least £110,000.

“Of course, not everyone who chooses to move to rental accommodation does so for financial reasons. Property maintenance is also a key driving factor. Again, however, turning to rental property is not necessarily the answer. Choosing to downsize to a smaller, more manageable property, a low maintenance bungalow or residential park home aimed exclusively at those age 55-plus can offer great low-maintenance options at affordable prices.

“It’s also important to consider that with rental property generally in high demand, property suitable for retirement may become increasingly challenging to find. Just 9% of landlords currently rent to retirees, down from 19% in 2012. With a scarcity in rental retirement property, options may be incredibly limited in the future. Downsizing to a smaller property instead can offer many of the benefits attracting retirees to rental accommodation, but with the added financial security and peace of mind that comes from owning your own home.”

If you’re considering downsizing in retirement, Quick Move Properties’ property part exchange and assisted move services could help you secure your new home whilst offering a quick, smooth and guaranteed sale of your existing property. For more information, call the Quick Move Properties team on: 01793 840917 or email: px@quickmoveproperties.co.uk.

cost-of-selling-a-house-on-the-rise

Cost of selling a property on the rise

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The cost of selling a property is on the rise, according to figures from Lloyds Bank. The average cost of moving house is now just under £11,000; a rise of 9% in the last year. Those in London are even more affected, with a £4,732 increase– the equivalent of 18%.

With many estate agents charging a percentage of the final property selling price, rising house prices has been blamed for a large proportion of the increase in costs. Rising house prices also have an impact on conveyancing fees and stamp duty land tax charges. With London house prices rising 14.5% over the last year it’s no wonder that London home owners have experienced a steep hike in the cost of moving. The average cost of moving house in London now stands at more than £31,000; with an average £15,000 going on stamp duty and a further £11,000 on estate agency fees.

Quick Move Properties’ sales director commented: “The cost of moving house has been on the rise in recent years, and with the figure now standing at just under £11,000, moving is not a small financial commitment.

“With the cost of moving rising, property part exchange becomes an increasingly attractive option. The price you’re quoted for your property is exactly the figure you’ll receive, you have no estate agency fees to pay and can move in a timescale that suits you. What’s more, with nearly one in three traditional house sales now falling through before completion, property part exchange offers a certainty and peace of mind that the open market simply cannot provide.”

If you’d like to find out more about how property part exchange could work for you, contact Quick Move Properties today on: 01793 840917 or email: px@quickmoveproperties.co.uk

how-to-stop-your-house-sale-falling-through

Top tips to stop your house sale falling through

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With news released today that 31% of house sales fell through between July and September of this year, many homeowners will be wondering how they can prevent their house sale from collapsing. By following our top tips, you can maximise your chances of an easy and successful house sale.

Present your home at its best

It sounds obvious, but you’d be surprised how many people put their property on the market without spending time ensuring their property looks its best. If you’re keen to secure a buyer quickly, and want to maximise the chances of your property sale succeeding, you need prospective buyers to fall in love with your home.

Accept offers wisely

When you’re selling a property, it’s tempting to jump at the highest offer, but that’s not always the wisest move. The highest offer is not always the best offer when it comes to the chances of the sale making it through to completion. Instead, look at the buyer’s individual circumstances. Homeowners can waste a vast amount of time and money when a sale falls through before completion. A slightly lower offer from a more proceedable may well be worth more to you in the long run.

Make the most of your estate agent

You may think that estate agents’ sole role is to advertise your property, but that’s not the case. Employ a good estate agent and they’ll be an invaluable source of information. Your estate agent should be fully vetting each person that books a viewing of your property. Key information they should be gathering includes, how proceedable the buyer is, whether they already have finance in place and whether they’re in any sort of property chain. The should then play an active role in helping you to select the best buyer and managing the sale through to successful completion.

Keep in contact with your solicitor

Your solicitor will be dealing with a vast number of cases at any one time. If you’re working to a tight deadline, or just want to make sure your property sale progresses the way it should, it’s important that you maintain close contact with your solicitor until the sale has successfully reached completion. Schedule in regular updates and ensure you respond to any queries from your solicitor promptly.

If in doubt, ask

Don’t sit around worrying about how the sale of your property is progressing, ask! Its the job of your estate agent and solicitor to manage the progress of your property sale, and they should be giving you regular updates. You should know what stage the sale is at, and what the next steps are. If things go quiet it could be a sign that all is not well, so don’t be afraid to chase people and get the answers you need.

Consider property part exchange

Following our tips will help to maximise your chances of a successful property sale, but there’s only one way to guarantee that your property sale won’t fall through, and that’s property part exchange.

If you’ve got a property to sell and would like to discover more about property part exchange, visit: http://www.quickmoveproperties.co.uk/part-exchange/ or call: 01793 840917.

1-in-7-renters-breaking-tenancy-agreement

One in seven renters break tenancy agreement

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One in seven renters has broken at least one rule set out in their tenancy agreement, according to new research.  Paying their rent late, or not at all, topped the list of bad behaviour, with 25% of rule breakers.  Smoking in the property was the second most common offense, with more than one in five of those breaking the rules admitting to lighting up.  Keeping a pet in the property completed the top three, with 18% of rule breakers.  Worryingly, more than 20% of tenants said their landlord never found out about their rule breaking.

Rules broken by tenants
 Failing to pay rent on time (or at all)25%
 Smoking in the property 21%
 Keeping a pet in the property 18%
 Damaging or making alterations to the premises 17%
 Changing the locks 16%
 Caused disturbances or a nuisance to the neighbouring properties 14%
 Sublet a room without notifying the landlord 14%
 Failed to clean accessible windows 13%
 Redecorated without permission 12%
 Failed to check smoke or carbon monoxide alarm 10%

 

 

 

 

 

 

 

Leisure Lodge

Buying a second home: a guide

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If you’re considering buying a second property, you may be aware that the government recently introduced new stamp duty rates, but how will they affect you and your new purchase?

As part of the government’s plan to help first-time buyers to get a foot on the property ladder, in April this year they introduced new higher rates of Stamp Duty Land Tax for anyone buying an additional residential property, including second homes and buy-to-lets.

Anyone buying an additional property for more than £40,000 will be required to pay an additional three percent in Stamp Duty Land Tax. This could include a holiday home, a buy-to-let investment property, or even a home that you intend to use as your main residence in the future. It also applies to any ‘share’ in a property if that share is worth more than £40,000, so don’t think you can escape the new rates because you only own part of a property. It also includes international properties, so if you own a holiday home in Spain and want to buy your first home in the UK, you’ll be stung by the Stamp Duty hike as officially your main residence is an ‘additional’ property.

So, what are your options? If you’re keen to avoid the Stamp Duty Land Tax hikes, you might want to try one of these solutions:

Buy land and build your own

Stamp Duty Land Tax, and the new higher rates, only apply when you’re buying a residential property. Buying a plot of land, even if you intend to build a residential property on it, is not counted as buying a residential property, and therefore Stamp Duty is not payable.

There are some stipulations when it comes to buying an ‘off-plan’ property (ie. where the purchase contract provides for a residential property being built), so it’s important to gain independent legal advice, but choosing to ‘built it yourself’ is definitely one option to avoid the extra Stamp Duty costs.

Buy a holiday lodge

If you’re looking for a second home to use as a holiday property, either for personal use or as a buy-to-let investment, holiday lodges can be a great option as they are completely exempt from Stamp Duty Land Tax.

Forget the run-down caravanning holidays your parents took you on as a child, the UK holiday lodge market has had a makeover and the new buzzword is ‘luxury’.

Because you buy the lodge, but not the land the lodge sits on, there is no Stamp Duty payable. What’s more, UK holiday lodges have fantastic holiday let potential. According to a national newspaper, 72 percent of Brits chose to stay in the UK for their holidays last year. With a weakening pound and recent global events, this statistic only looks set to increase in the next few years. The financials look good too, with many holiday lodge management companies are now offering an annual return of six to eight percent, which traditional savings and investment products simply can’t compete with.

If you’re interested in buying a UK holiday lodge, Quick Move Properties provide a Park, Plot & Home Finder service that can manage the whole process for you; making your purchase quick, smooth and hassle-free. Using almost 20 years of expertise and experience, Quick Move Properties can help you find the right holiday lodge, in your ideal location. For more information contact Quick Move Properties’ friendly team today on: 01793 840917