The latest news from Bill Tandy

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 take a look at which room in your house is the best value for money so you can make home improvements during lockdown.
 
Further into our newsletter we give first-time buyers some top tips on how to save for a deposit and look back on 2020 at how the property market developed. Finally we update any landlords or tenants on the new 'how to rent' guide following government additions and changes.
 
 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 .



 



Which room in your home is the best value for money?

 
Faced with a third lockdown, how are you maximising your time to your advantage?

Whilst it might be the furthest thing from your mind right now, making home improvements is the perfect way to spend all of that extra time indoors.

So that you know where to concentrate your energy, we've outlined the rooms considered 'best value'.


Perhaps unsurprisingly, the best-valued room has been revealed as the master bedroom, where we spend an average of 2,482 hours a year.

A recent study from comparethemarket.com has shown that Brits spend £308.51 each year on renovating the main bedroom, which makes sense when we consider just how much the room is used.

The average person spends about 26 years sleeping in their life, which equates to 9,490 days. We also spend seven years trying to get to sleep, totalling 33 years or 12,045 days spent in bed!

With the pandemic forcing more of us than ever to work from home, it is no surprise that the home office follows the bedroom for the room most used within our households.

Since March, an average of £213 has been spent on sprucing up the office room or area where we're working.

In the last five years, over £10k is spent on improving our homes on average, with just under a quarter of that going on our kitchen.

It seems we enjoy improving our culinary skills as well as our homes, with Brits spending just under 800 hours a year in the kitchen.

With many people adding renovations to their New Year’s resolution list, it is important to know which room to do first.

If you are thinking of making changes to improve the value of your property, it is best to start with the kitchen or bathroom.

When buyer’s view a property, nothing grabs their attention more than a stunning kitchen or a modern bathroom. These improvements don’t have to break the bank to go a long way to impressing prospective owners.

If you’re improving your house for your own purposes only, it’s best to start with the room you would notice changes in the most.
 

To get your home valued or browse our latest properties, visit our website.
 



Top tips for first-time buyers saving for a deposit

 
Buying your first home is an extremely poignant event in anyone’s life and being able to put down a significant deposit is vital to stand you in good stead for your future repayments.
 
However, in light of the pandemic, we appreciate that it can seem more daunting than ever to imagine yourself taking that step towards homeownership.
 
As your trusted local estate agent, with lots of first-time buyer experience, we have complied these tips to support your saving goals this January.


Plan ahead

During your property purchasing journey, it is crucial to identify any additional funds that you may need along the moving process. 

Likewise, being aware of your monthly income and outgoings is extremely important in order to create a timescale for your saving journey.
 
 
Move back home

If your parents or family are not in a position to be able to support you financially with your property purchase, there are other ways they can help.
 
The vast majority of first-time buyers find it difficult to save for a deposit due to their monthly rental outgoings, so moving in with a friend or family member is a great option to reducing these costs.
 
Due to COVID, it is important that you check the most recent guidance before changing your living situation.
 

Downsize

If your current rent price per calendar month is slowing your deposit saving down, and you can’t move in with a family member or friend, then downsizing may help.
 
Looking for a property that is smaller could save you hundreds or even thousands over the span of your saving period.
 
Alternatively, moving out of a central location has the potential to save you a significant sum, and with remote working the new norm, you might find this option can be implemented without disrupting your lifestyle.


Check your direct debits

Especially at this time of year, many of us will take out various subscriptions without continuing to need them beyond the first month.
 
As such, it is important to go over your direct debits and ensure that you are still using all of the services you are paying for.
 
In 2019, Brits spent £4 billion on unused gym memberships – and with the average monthly fee being £35 per person – the cost really adds up.*
 
This also goes for streaming services and club memberships that you may no longer use.


Whether you have your deposit ready to go, or you’re looking to downsize to save some extra money, we’re here to help you every step of the way.


*Daily Mail
 



Positive property market developments from 2020

 
Looking back on 2020, it’s easy to focus on the negatives. However, the impact last year had on the property market was definitely overall positive.
 
What is in store for the sector this year?


Government schemes

2020’s COVID crisis gave rise to the stamp duty and mortgage holiday to support property homeowners and landlords through their financial hardship.
 
The stamp duty holiday began on July 8th and will remain in place until March 31st this year, giving buyers and investors the opportunity to see savings of up to £15,000.
 
Due to the scheme, house sales rose by a huge 21.3% in September.*
 
Whilst it's been reported that an impressive 140,000 more people are waiting to complete on their house purchase since this time last year.**

Similarly, the mortgage holiday was initially introduced in March 2020 and has been extended various times with a current end date of July 2021.
 
This scheme was announced to help households who had been financially impacted by the pandemic and can be taken for up to six months.

For more information, please speak to your lender directly on whether a payment holiday is the right solution for you.


House price surges

With property priorities changing to favour gardens, large living spaces, rural locations, home offices and dining rooms, prices for these properties has increased massively.
 
Similarly, with the aid of the stamp duty holiday, many buyers have been able to push themselves financially and purchase a larger property than they first thought possible.

With so many positive elements to take away from 2020, and a bright future for the property market ahead, now is a great time to evaluate your options.
 
If you’re thinking of buying, selling or letting this year, contact us.



*GOV.UK
**Property Wire
 
 



The updated 'how to rent' guide for tenants and landlords

 
As a landlord, there are a number of legal requirements to be complied with prior to letting out a property.

One of these is to provide a copy of the Government issued 'How to Rent' checklist to all tenants when entering into and renewing an assured shorthold tenancy, which is the most common type of contractual letting agreement.

The Government has recently released an updated How to Rent guide, which can be found at: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/
attachment_data/file/942503/6.6642_MHCLG_How_to_Rent_v5.pdf

The guide is designed to help tenants understand their rights and responsibilities under an assured shorthold tenancy both before the tenancy starts and during the term of the agreement.


What additions or changes have the government made to the guide?

There are some noticeable differences with the latest version, which now provides answers to tenants' frequently asked questions, including the level of deposit and its protection, necessary documentation and length of term.

Another important addition is the reference to a landlord's obligations regarding mandatory electrical testing, and a review of the permitted fees under the Tenant Fees Act, which was introduced in 2019.

The Government's latest guide also sets out the information that must be provided by a landlord to tenants, as well as a summary of what each party must and should do during the tenancy.

Importantly, it gives advice to tenants on what to do if things go wrong, whilst clearly setting out what should happen at the end of the tenancy.


Why is it so important landlords provide this guide to their tenants?

Landlords need to bear in mind that giving tenants the How to Rent guide is a legal requirement.

Without doing this, it hinders your ability to later serve a valid Section 21 notice and regain possession of your property, if required to do so.

This is due to the fact that the How to Rent guide is one of the statutory pre-conditions for serving a Section 21 notice.

We will always ensure on behalf of our landlord clients that their tenants are provided with a copy of this guide and that all other landlord requirements on the grant of an assured shorthold tenancy are complied with.

If you want any further information about the How to Rent guide or landlord and tenant requirements on the grant of an assured shorthold tenancy, please call our lettings team who will be happy to help.
 
 



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.