June Newsletter

June Newsletter


Rents UP  Tenant Activity UP
Sales  UP  Buying Activity UP

We have had a pleasingly busy spring.  It definitely feels like people are returning to London, the streets and our phone lines are busy.
 
These last few weeks we have been blessed with business from long-term and returning customers, some from over 20 years ago.  We thank all returning customers from the bottom of our hearts. 
 
Our corner of South East London was blessed by a handful of Independent 'small business' Estate Agents. Recent weeks has seen most of them gobbled up by large corporate companies. We are one of the very few Independent Estate Agents left in the Borough.
A proud and Independent Business since 1999.


<span class="TextRun Underlined SCXW23504215 BCX0" lang="EN-US" style="font-size: 18px; font-weight: bold; font-family: Georgia;" xml:lang="EN-US" data-contrast="auto"><span class="NormalTextRun SCXW23504215 BCX0" style="font-weight: bold;">Are you a tenant on the hunt for a pet-friendly property?</span></span>

Did you know? April 1st marks the start of National Pet Month! For tenants with pets, the search for a property can be a little more time-consuming and tedious. It’s important to remember that you must always get consent from your landlord before keeping a pet in the property. Failure to do so could result in you getting into trouble with your landlord. 
 
If you are on the hunt for a property with a furry friend in tow, here are our top tips to help you secure your ideal rental home: 
 
Plan ahead 
 
There is now more availability when it comes to pet-friendly rentals. However, in the current market, the imbalance between supply and demand means rental properties are being snapped up very quickly.  
 
We would suggest beginning your search around eight weeks before you intend or need to move out of your current property.  
 
Create a file for your pet 
 
While some landlords may initially say no to pets, if there is a chance they can be persuaded, it is best to provide them with your pet’s medical details and a reference from your previous landlord to show that your pet caused no issues throughout your tenancy with them. 
 
Have your landlord meet your furry friend 
 
This is often only relevant to tenants with dogs. It does, however, put your landlord's mind at ease knowing your pet gets along well with the other people in the house and is well-behaved. 
 
Are you on the hunt for a pet-friendly rental home? Get in touch with us today to see how we can help you. 



<span style="font-size: 18px; font-weight: bold; font-family: Georgia;"><span class="TextRun Underlined SCXW18511093 BCX0" lang="EN-US" style="font-weight: bold;" xml:lang="EN-US" data-contrast="auto"><span class="NormalTextRun SCXW18511093 BCX0" style="font-weight: bold;">Considering rendering your property? Here’s everything you need to know</span></span><span class="EOP SCXW18511093 BCX0" style="font-weight: bold;" data-ccp-props="{"> </span></span>

As summer approaches, you may be thinking about giving the exterior of your home a makeover. Rendering your property is not only a great way to give your home a modern touch, but it can also increase kerb appeal.  

 

Why do people choose to render their property? 

Typically, homeowners will render a property to enhance its appearance. However, it can also prove beneficial by increasing resistance to poor weather. It is important to note that render should not be applied to damp walls, and before rendering, defects and exposure should be looked at to see if they need to be fixed. 

 

What can you expect to pay? 

As properties come in many different shapes, sizes, and locations, it is difficult to pinpoint an exact price. However, it all depends on the above factors and how much preparation is required before the event. 

 

Should you seek planning permission? 

Often, planning permission is not necessary. However, properties in conservation areas or Areas of Natural Beauty (AONB) will likely need to be granted permission. It is always worth checking with the relevant authorities before commencing with any work.  

 

Is rendering likely to increase the value of your home? 

If your property appears to be worn externally, rendering will almost certainly add some sort of value to your property. If you live in an area where fine brickwork and traditional exterior features are very common, you may want to steer away from rendering and consider a new driveway, or landscaping your front garden instead! 

 

Have you been thinking about making improvements to your home? Get in touch with us to discuss the most beneficial changes that you can make!  



<span class="TextRun SCXW120994767 BCX0" lang="EN-GB" style="font-size: 18px; font-family: Georgia; font-weight: bold;" xml:lang="EN-GB" data-contrast="auto"><span class="NormalTextRun SCXW120994767 BCX0" style="font-weight: bold;">Demand creates opportunit</span><span class="NormalTextRun SCXW120994767 BCX0" style="font-weight: bold;">ies</span><span class="NormalTextRun SCXW120994767 BCX0" style="font-weight: bold;"> for new landlords</span></span>

As soaring house prices continue to push up the average buying age, more and more people are looking to rent for longer. This squeeze on supply has resulted in the average rent price rising throughout the UK. In London, rents have risen to £1,757 – 11.8% higher than in February 2021. *  

The imbalance between supply and demand means that the Association of Independent Inventory Clerks is now applying pressure on the Government to increase rental stock across the UK.  

Now is the perfect time for new landlords to enter the market and make a good return while providing homes to those who need them.  

Have you had a lettings valuation in the past? You may be surprised by how much your potential rental is worth now. 

If you’ve got an unoccupied property on your hands, contact us to learn more about our bespoke services and book a lettings valuation.  



<span style="font-family: Georgia;"><span class="TextRun Underlined SCXW68710629 BCX0" lang="EN-GB" style="font-size: 18px; font-weight: bold;" xml:lang="EN-GB" data-contrast="auto"><span class="NormalTextRun SCXW68710629 BCX0" style="font-weight: bold;">New 'Right</span> <span class="NormalTextRun SCXW68710629 BCX0" style="font-weight: bold;">to</span> <span class="NormalTextRun SCXW68710629 BCX0" style="font-weight: bold;">Rent' legislation </span><span class="NormalTextRun SCXW68710629 BCX0" style="font-weight: bold;">you </span><span class="NormalTextRun SCXW68710629 BCX0" style="font-weight: bold;">need to know about</span></span><span class="EOP SCXW68710629 BCX0" style="font-weight: bold;" data-ccp-props="{"> </span></span>

Last month, changes were made to how some aspects of Right to Rent checks are completed in England. 
 

Since 2014, anyone letting a property in the UK has been obliged to complete a Right to Rent check every time they take on a new tenant. As part of the changes to Right to Rent checks, landlords in England are no longer allowed to accept physical biometric residence cards and permits, nor Frontier Worker permits. All holders of these cards and permits in England will have to verify their identity using an online service operated by the Home Office. 

 

There are legal implications for anyone who does not follow the new laws. It is illegal for landlords to only check people that they think are not British citizens; the government states that potential tenants should not be discriminated against based on speculation about where they are from. 

 

For now, this change is limited to tenancies in England. For the rest of the UK and Northern Ireland, the Home Office will require tenants to register with a certified identity service provider (IDSP), which will use identity document validation technology (IDVT) to share checks with agents and landlords. 

 

If you are a tenant or landlord looking for answers, get in touch and we will help wherever we can. 



<span style="font-size: 18px; font-weight: bold; font-family: Georgia;"><span class="TextRun Underlined SCXW149124042 BCX0" lang="EN-US" style="font-weight: bold;" xml:lang="EN-US" data-contrast="auto"><span class="NormalTextRun SCXW149124042 BCX0" style="font-weight: bold;">18% more green mortgages are now available</span></span><span class="EOP SCXW149124042 BCX0" style="font-weight: bold;" data-ccp-props="{"> </span></span>

Green mortgage popularity is evidently on the rise as we all do our bit to make the world an eco-friendlier place. In the current market, there are a total of 648 green mortgages available, compared to October 2021, when just 550 were available. * 

 

What is a “green mortgage”? 

This type of mortgage allows homeowners to benefit from preferential terms when purchasing a property that meets certain requirements. Often, these mortgages are available on new-build homes with high EPC ratings.

 

However, if you have made energy-saving improvements to your home or renovated your property, you may be eligible on the basis that your new EPC rating is an A or B. It is important to note that some lenders will offer green mortgages on properties with an EPC rating of C.  

 

Could you be eligible for a green mortgage? 

The easiest way to find out whether a green mortgage is suitable for you, is to discuss your mortgage with an expert. They will be able to advise you on which products are available, and help you outline the next steps.   

 

Are you looking for further advice? Get in touch with our expert property team today. 

 

*Property Reporter 



<span style="font-size: 18px; font-weight: bold;"><span class="TextRun Underlined SCXW143967558 BCX0" lang="EN-GB" style="font-weight: bold;" xml:lang="EN-GB" data-contrast="auto"><span class="NormalTextRun SCXW143967558 BCX0" style="font-weight: bold;">Demand for chain-free homes rises</span></span></span>

New figures have revealed that, in the past year, the number of chain-free properties sold has increased by a huge 29%. * 

A total of £28.8 billion was spent on chain-free purchases in the last 12 months. This is £8.7 billion, or 43% higher than the previous year and is reflected across every region, with increases in both the quantity and value of transactions. * 

It is easy to see the appeal of a chain-free purchase. The key benefit is that there is a much smaller chance of a sale being delayed or falling through. Statistics indicate that a chain-free transaction takes, on average, 60% less time to complete than when a property is in a chain. * 

The great news for sellers is that it seems homebuyers may be willing to pay a premium for a house that is not part of a chain.  

If you are thinking of selling your home, now is a great time to get a valuation. Book a valuation today. 

 

*Property Reporter 



<span style="font-weight: bold; font-family: Georgia;"><span class="TextRun Underlined SCXW151372465 BCX0" lang="EN-GB" style="font-size: 18px; font-weight: bold;" xml:lang="EN-GB" data-contrast="none"><span class="NormalTextRun SCXW151372465 BCX0" style="font-weight: bold;" data-ccp-parastyle="Normal (Web)">How landlords can make use of PDR to boost earnings</span></span><span class="EOP SCXW151372465 BCX0" style="font-weight: bold;" data-ccp-props="{"> </span></span>

In 2021, legislation introduced a new ‘Permitted Development Right’ (PDR). The new PDR has opened a range of new opportunities for investors who want to convert and refurbish a property, either to let it out or sell it for profit. Simply achieving planning permission through PDR is an opportunity for profit, reportedly offering a value increase of up to 30%. *

 

Permitted development rights are rights to make certain changes to a building without the need to apply for planning permission. They derive from general planning permission granted by Parliament rather than the local planning authority. Unlike applying for planning permission, which can be an uncertain and lengthy process, permitted development rights can provide a straightforward right to development, if predefined criteria are met. This means that approval can often be achieved in less than two months.  

 

PDR offers the potential for hundreds of Class E premises to be given approval for a change of use into Class C3 and Class C4 dwelling-houses and HMOs. Class E includes commercial and service-use premises in town centres, such as offices, shops, cafés, restaurants, surgeries, nurseries, and indoor gyms. 

 

To qualify for PDR, the property must have been in use under one of the use classes captured by Class E, for at least two years prior to the submission of the approval application. It must also have been vacant for three months.

 

If you are thinking of expanding your property portfolio, contact us for a no-obligation valuation. 

 

*Property Reporter  



<span style="font-family: Georgia; font-weight: bold; text-align: left; display: block; width: 100%; font-size: 18px;">New Tax Rules For Short-Term Lets And Second Homes Announced.</span>

The government previously announced that, from April 2023, second homes will need to be rented out for a minimum of 70 days per year to access small business rate relief, rather than paying council tax. Now, following the Queen's Speech 2022, the government has announced that councils will also be granted powers to impose higher rates of council tax on empty and second homes.

Click here to read <span style="font-family: Georgia; font-weight: bold; text-align: left; display: block; width: 100%; font-size: 18px;">New Tax Rules For Short-Term Lets And Second Homes Announced.</span>.



<span style="font-family: Georgia; font-size: 18px; font-weight: bold;"><span class="TextRun Underlined SCXW143967558 BCX0" lang="EN-GB" style="font-weight: bold;" xml:lang="EN-GB" data-contrast="auto"><span class="NormalTextRun SCXW143967558 BCX0" style="font-weight: bold;">Demand for chain-free homes rises</span></span></span>

New figures have revealed that, in the past year, the number of chain-free properties sold has increased by a huge 29%. * 

A total of £28.8 billion was spent on chain-free purchases in the last 12 months. This is £8.7 billion, or 43% higher than the previous year and is reflected across every region, with increases in both the quantity and value of transactions. * 

It is easy to see the appeal of a chain-free purchase. The key benefit is that there is a much smaller chance of a sale being delayed or falling through. Statistics indicate that a chain-free transaction takes, on average, 60% less time to complete than when a property is in a chain. * 

The great news for sellers is that it seems homebuyers may be willing to pay a premium for a house that is not part of a chain.  

If you are thinking of selling your home, now is a great time to get a valuation. Book a valuation today. 

 

*Property Reporter