The latest news from Bill Tandy

Welcome to the latest edition of the Bill Tandy newsletter! It has been a great month for the property market, with an increase in sales. This month we share all you need to know on mortgage holidays and whether they're the right option for you.

 

Next we discuss the impact of remote working on the economy, and then share our helpful tips and tricks on how to get your home ready for autumn. Finally some advice for landlords on some DIY projects that could change the value of your property.

 

 We hope you enjoy this months edition.

Eco Friendly Homes Playing an Important Role

 

Climate change has received immense attention recently with urgent calls to reduce the contributing factors to carbon emissions, rising sea levels, and rising temperatures. The UK has committed to reduce its CO2 emissions to net zero by 2050; and this commitment cascades to all markets, including property. This commitment is a great achievement for the UK, with it being the first first-world country to pass law to such a commitment. 

Sadly, the amount of greenhouse gasses produced from heating properties has increased since 2014. Heating our homes accounts to a staggering one seventh of overall UK emissions. Our increased use of fuel can be resultant from heat escaping from properties through walls, windows and ceilings during winter. Luckily, the Government have called an end to the rise in fuel consumption and are devising a plan to battle the emissions producing more energy efficient homes. They are behind an initiative called Future Homes Standard, which is planned to be in full operation by 2025. 

Having more energy efficient homes is a great ambition for all. It will lead to lower carbon emissions, reduced energy bills, and upgraded housing. In 2025, all new build homes will have to abide by the initiative to have clean technology to heat homes instead of the current fossil fuel burned for gas boilers. The construction sector and developers are at the heart of this revolution with their designs crucial to meeting this goal. 

 
The Housing Minister, Esther McVey, said that “industry has told us some homes built using modern methods can have 80% fewer defects and heating bills up to 70% lower. Homes built using modern methods can be of higher quality, greener and built to last. I want to see a housing green revolution.” 2020 is set for an environmental transformation, with the property market a strong contributor to this.

Easter Eggstaraganza 

Saturday 4th April 

 

Follow the Woodland Trail to find the Easter Bunny who's giving everyone free chocolate.

Click here to read Easter Eggstaraganza .

 

Get your home ‘autumn ready’

 

Darker nights and mornings, cooler temperatures and leaves falling from the trees, this can all only mean one thing! We’re heading into autumn.

Now is the perfect time to revisit the styling of your home’s interior to suit the autumnal changes.

Learn our makeover tips and suggestions for September, along with some practical pointers too.

 

 

Autumnal wreath

It all starts at the front door. You will find many independent homeware stores and florists designing beautiful seasonal wreaths.

They can range from rustic branches woven with berries, pumpkins and apples to crisp leafy designs. For those not ready to fully say goodbye to summer, why not go for a wreath made from wheat. The summery yellow will brighten up your porch.

 

 

Introduce new scents

Whether it be diffusers or scented candles, you can choose your home’s new smell to fit in with the season.

Go for musky, woody or spiced smells to create a cosy homely ambience.

If you are lucky enough to have a log burner, try cedar wood as it is well known for its delicate yet unmistaken fragrance (which also is known to keep spiders away, a win-win situation).

 

 

Add throws

It is time to dig out all the throws and blankets you put away for summer.

A big fluffy throw can take an elegant old chesterfield sofa to a whole new level of snugness.

If you are not a fan of the fluff, try and introduce mustards, marsala or copper coloured textiles to your living areas. Not only do they look nice but they’re so practical for those dark nights on the sofa watching TV!

 

 

Now, time for our practical pointers:

• Check for leaks and drafts. You can do this yourself or hire a professional, just be sure to do it sooner rather than later; there is nothing worse than finding a draft in the middle of winter.
• Inspect your roof and clean out your gutters.
• Stock up on firewood.
• Fertilise your lawn. Doing this will help prevent winter damage and weeds.
• Put away any seasonal furniture. Remember to clean before covering up.

Don’t panic though, autumn doesn’t officially start until the 22nd September. Just be sure that your home is ready.

Preventative maintenance will not only save on wasted energy and the stress of emergency repairs, but it will save you a lot of money!

Maintaining your home also enhances its market value and appeal. For an updated valuation, contact us.

 

 

Landlord DIY projects that could add or deduct value

 

Whilst lockdown meant restrictions on the nation’s travel and leisure activities, a recent report from ONS indicates that the extra time spent indoors wasn’t wasted.

Four in ten Brits started cooking (45%), gardening (42%) and reading (44%).

As well as nurturing new hobbies, ONS claim that a third of the population turned their sights to home renovations, with 32% completing DIY tasks around the house.

With the rental market showing increasing activity and opportunities for buy-to-let investors, here are the most valuable DIY projects that you can undertake as a landlord to increase the value of your property.

According to CIA Landlord, home offices are now the highest valued feature for tenants and buyers – unsurprising, given the new workforce dynamics, which sees a more even balance between remote and office working in the UK.

The installation of a home office should come to around £1,715 in order to see significant improvements to your property’s overall market value.

To really appeal to prospective tenants or buyers, we’d recommend that you use space effectively, consider colour schemes that stimulate the imagination, reduce distractions, maximise natural light and ensure that the room has sufficient sockets and a reliable WIFI connection.

Next on the list for your DIY makeover is replacing carpets in your property. After ten years, it’s advised by most manufacturers to do this, as it will be showing signs of wear and fading in colour.

Although this comes with an approximate cost of £700, as many as 43% of women are willing to pay more in return.

Likewise, new curtains and light fittings are relatively inexpensive at £23.50 and £7 respectively, yet one in four of those looking to rent would pay significantly more for a home that’s recently had these installations.
As the central area of the home, you might expect DIY projects in the kitchen to be the highest valued by tenants and buyers.

Less than 10% would deem painted floorboards and cabinets as an important feature. So, unless you’re looking at a complete remodel, tackling smaller items within the kitchen may have a smaller impact than you’d anticipated.

Conversely, having a home bar seems like a feature that would differentiate your rental, but with prices starting from £1,610 for a self-installation, only 14% feel it adds value to a prospective home.

If you’ve recently completed renovations or DIY projects on your property, obtain an updated valuation to find out how much value it could have increased by.

 

 

What you need to know about mortgage holidays

 

It’s estimated that one in six Brits have taken out a mortgage holiday since the start of lockdown – on average, suspending payments of £755 each per month.

Initially introduced back in March and then later extended, the break on mortgage payments has proven to be a valuable lifeline for many households during the last few months.

With the government’s furlough scheme ending in October, there’s a concern that the number of homeowners and tenants facing financial difficulty will increase further.

Across the country, one in nine are currently behind on their household bills, which includes essential items such as rent, water, energy, council tax and credit card repayments.

Although the mortgage holiday deadline is open until October 31st for new applicants, experts are expressing caution before taking this option and urging for alternative solutions – where possible.

Miles Robinson – at online mortgage broker, Trussle – warns that some borrowers may be unaware of the “true cost” of taking a break from monthly payments, which may result in huge increases overall and potential difficulties in the future applying for new loans.

“The banks were very under-resourced when they were handing them out and people were allowed to essentially self-certify whether they needed one or not.”

The Financial Conduct Authority has been advising firms to help mortgage customers by offering a range of support options, such as waiving or reducing payments, once we’ve reached the end of the official mortgage holiday on the 31st October.

If you need guidance on mortgage restructuring, as well as any long-term or short-term measures in place for COVID-19 support, we’d recommend contacting your lender directly.

You can also talk to us for more information.

 

 

The changing landscape for city office spaces

 

Fewer than 8% of Brits had experience working remotely at the start of 2020.

Within a matter of weeks, this figure rose considerably as businesses scrambled to meet new demands and challenges, with 46.6% of the country’s professional workforce ‘clocking in’ from home across April and May – rising to 57% in London.

This month, the government will be encouraging more and more firms to return to their offices, addressing a very real concern about the economic toll remote working has had on city centres.

High streets up and down the UK are all but empty of foot traffic, meaning that small businesses will continue to struggle to stay in business over the coming months.

Whilst acknowledging the merits of home working, Dame Carolyn comments on the role the UK’s offices play as “vital drivers” of the economy, suggesting that:

"The costs of office closure are becoming clearer by the day. Some of our busiest city centres resemble ghost towns, missing the usual bustle of passing trade.”

 

 

Is remote working here to stay?

It’s estimated that those working from home have racked up an extra 28 hours of monthly overtime during lockdown, which adds up to almost four days’ additional work.

The chief reason for this being that 86% feel it’s a necessity to prove their value to their employers and ultimately keep their jobs.

Although remote working has put a strain on the country’s commercial hubs, with employees equally feeling more workload pressure, there’s an evident shift in mindset amongst professional workers towards flexible opportunities.

Of those asked, only 7% would opt to work full time without any element of remote working.

Compared to 93% who would want at least one day a week from home.

Whether you’re in need of a new home with dedicated office space, or you’d like to find out what commercial properties are available, talk to us.

 

 

Mad Hatter's Tea

Thursday 9th April 

 

Enjoy an afternoon tea in the school holiday's with fun, craziness, singing and dancing.

Click here to read Mad Hatter's Tea.

Wedding Open Day

Sunday 19th April 

 

If you are planning a wedding for 2020 or 2021 this wedding day is a perfect chance to see dressed rooms.

Click here to read Wedding Open Day.