Festive Greetings

TOP SELLING TIPS 15

All ‘active’ buyers will be regularly searching for a  property online so it’s very important that you have a significant online presence.

But what about  the ‘passive buyer’? 

You know the type, they are not necessarily looking, the one who saw the board on the school run, the ones who would ‘love to buy that house if it ever came on the market’ or perhaps who would ‘buy a property in that block if one ever came up for sale’.

Time is a precious Commodity in todays fast moving world, so many people may not be able to check out the latest portal to see whats available.

You also need to market to these buyers. 

A For Sale board is a great way to do this locally.


Need advice? Contact us here.

Schools out !

Okay so this might seem a little premature, seeing as were only just approaching Christmas with another 7-8 months of schooling to go. 

But there is nothing wrong with a little planning! Besides you may need to move mid-term, which is not ideal, and we don't live in an ideal World.

The Maps shows the Main Schools in the Putnoe Area. As you can See, Putnoe is well catered for, with some very Good Schools as well as the University Campus on Polhill Avenue. Below are some links to the schools Websites:

1. Mark Rutherford

2. Putnoe Primary School

3. Hazeldean Pre School

4. The Hills Academy

5. Newnham Middle School

6. St John Rigby Lower School

7. Goldington Academy Trust

Here are some other links that may also be of use:

University of Bedfordshire

Bedford Borough Education Website

Ofsted Website


Ask us here for help. Good Luck !

TOP SELLING TIPS 14

Identify the your Market. Ask yourself who would this House appeal to ? Young, Old, Married, Professionals, Commuters. Couples, Singles, Sharers........


For example, would you a market a Bungalow at young Professionals ? Or a 5 Bed Detached Property at retired Couples ?

Your Agent should be aware of this and should be Marketing Accordingly. Pictures, Wording and Lifestyle Descriptions on the Brochures, Advertisements and Web-Listings should all be geared up to appeal to your Target Market.

Look at the Property, the Area, Access and Transport Links, Schools etc. Why did you buy the Property ? What attracted you when you bought it ? Emphasise the features and benefits that will appeal to your Target Market

Know who you are trying to Sell to and Make you Home as attractive as possible to your Target Audience.
You need to effectively market your Property or get an Agent who knows how to.....

Need advice? Ask me here

Property Focus: Goldington Road

Goldington Road

This Period Property Came onto the Market at the Beginning of the Month. 

On Sale with Cooper Beard it is a beautifully presented Example of what these Period Properties can be like if they are done well and sympathetically Decorated to enhance its features. 

The High Ceilings and Big Windows give them a Lovely Bright and Airy Feel. And if Marketed well, will often attract a Good Price. 

£280k doesn't seem much, for what is a lot of Property......

Ask us for Help

TOP SELLING TIPS 13

You should now consider choosing a solicitor or conveyancer to deal with the legal work to transfer ownership of the property. 

You could do this yourself, however this is not for the faint-hearted and should only be undertaken if you have a good understanding of Contract Law.

You may already know a firm through friends or family recommendation's, Word of mouth can be a good way of deciding, however peoples expectations vary so be wary!

You should decide which one you want to use before you agree the sale of your house, this will ensure delays are kept to a minimum. Obviously you can only instruct them once you have agreed an offer.

As well as a Traditional High Street Solicitor, there are now a number of Online Conveyance Sites available which can be a cheaper option.

Ask us for Help

Property Focus: Wheathouse Close

Wheathouse Close.


Four Bed Terrace Houses are quite a rarity, but they can represent good value for money. Ideal for for younger Families with a more restrictive Budget, they offer a lot of Space for a lot less money. You just have to be prepared for proximity to the Neighbours!

This Property is a good case in point. Offering 4 Beds and a reasonable amount of living Space. It will offer a growing Family the room it needs to develop over a longer period of time. The layout downstairs could also be improved further with remodeling to increase further the living space on offer

Its not long been on the Market, so if your looking for space on a Budget then its well worth a look.

Ask us for Help

TOP SELLING TIPS 12

Probably the most difficult decision when selling your home is trying to Ascertain what its worth and therefore what price to put it on the market for.

Its vital therefore that you do some research and get to know the local Housing market.

You can get a number of local Estate Agents to do an evaluation, but don’t necessarily go for the highest. 

They may overprice in an attempt to get you to sign up for a long Contract and then spend the next few weeks asking you to drop the Price.

Also its important to remember that buyers will probably try to negotiate a discount, so be prepared and factor in a Small Percentage to allow for 'wriggle' room! 5% to 10% should be sufficient.

Just remember: your house is only worth what someone else is prepared to pay at the time you are prepared to sell. 
If the two cases are the Same then you've potentially got a Sale!

TOP SELLING TIPS 11

So now the House is ready and looking sharp. So ask yourself who should I get to sell it ?
You can sell your home yourself, use a traditional estate agent, or an online estate agent. Each has its own advantages and Dis-advantages.

If you use an agent make sure you do plenty of research, but also decide if you want one Agent or multiple. 

Having too many Agents may make you look a bit desperate, so you'd be better off choosing a good local Agent who is motivated, properly vets any prospects, will accompany all clients, but importantly gives good feedback on any viewings. Most Agents will work on a 'No Sale No Fee' Basis and will charge a percentage of the Final Selling Price. 
Be wary of additional Extras (floorplans, glossy Brochures, Professional Photos etc) as these may require upfront payment. 
Just make sure you know what your Getting for the money.

Online Agents are becoming more prevalent as they can offer savings over conventional agent, as long as you feel happy conducting viewings. Basically they will set you up for an upfront fee and then its down to you

Selling yourself is an option but only if you have the time, are organized and have a lot of Patience. Its not for the fainthearted !

Ask us for Help

Property Focus: Donnelly Drive

Donnelly Drive


Every so ofter I see a property and think that it should sell quite Quickly, and am proved wrong for one reason or another. Looking at the Property, its a reasonable Area of Bedford, in a newish Estate off Barkers Lane. Its a link-detached, looks comparatively spacious and Well equipped for Family Life. Conservatory (not on floorplan), Utility Room, Downstairs WC, En-suite to Master Bedroom further enhance its Appeal. So why hasn't it been Sold? Here its offered for Sale by Advancing Property for £275,000

That however, is only part of the Story. It actually went on Sale first with Connells back on the 10th June for £300,000, It has now been listed with another 3 agents locally. Yes thats 5 Estate Agents...... A bit of a 'shotgun' approach to selling your House. Obviously for one reason or another it has not Sold, but could well be worth a look, just take your pick of all the Agents!


Ask us for Help

TOP SELLING TIPS 10

What is that Smell?


Bad smells are big turn off. 
Try to find out where it originates and treat the source!

Be it a Drain, Bin, Wash Basket or Rover's Bed, Clear, Clean or de-odourise. 

Carpets can also be a source of the Smell, so Buy some Carpet De-odorizer.

Old Furniture can also smell. If it is with embedded stale smells/Cigarette Smoke get rid of it,

Wash any Bed Linen regularly to help keep that fresh too.

If you are a smoker, firstly get in the habit of Smoking Outside, but also Properly Ventilate the House to help remove any lingering smells.

I read once that placing bowls of vinegar around the house and leaving out for three or four days will help. Though the vinegar will smell a bit, when you open the windows it will quickly disappear, taking a most of the stale cigarette smell out with it.




On the other hand, pleasant Aroma's can help too.


Once you've eradicated the Bad Smells, replace them with some good Ones. Invest in some Air Fresheners, maybe even brew some Fresh Coffee too!





Need some advice to improve your home ready to sell? 

Ask us for Help

Property Focus: Queens Drive

Queens Drive


Following my Mini-break to Scotland, (you get a lot for your Money up there!) I was perusing Rightmove to catch up on the Comings and Goings. I happened upon this 3 Bed Semi-detached on Queens Drive

Queens Drive is opposite Bowhill Park, (a place I and my dogs know well) so has a nice outlook on to this open Space. Its already been extended downstairs so offers more living space than Standard. OK, so it might be a tad too expensive as a Buy-to-Let Investment, but if your looking for a good sized Property in a decent area for Families then it may well be worth a look.

Its very similar to my own, so I shall be keeping an eye on this one...........


Ask me for Help

TOP SELLING TIPS 9

Pretty as a Picture.


Make sure the windows are properly dressed with blinds or curtains.

In many Rooms the Windows are the Focal Point, especially if they overlook some stunning Scenery

Naked windows can make a place feel sterile and austere.

Buy some curtains/blinds if necessary to help improve the overall look and feel of the room.

Plants and flowers bring colour, life and light to a room.

A bowl of Fruit in Kitchen or Diner always adds a nice touch

Remember you home is going on a Date, So Dress to impress!

Need some advice to improve your home ready to sell? 

Ask me for Help

TOP SELLING TIPS 8

De-Clutter, but don't leave it Soul-less

Time to shift all that excess stuff that has accumulated in every nook and Cranny.

Stick it in the loft, into storage, sell it or give it away. Especially Bulky furniture. 

Consider selling and replacing with smaller items.  Your potentially going to have shift it anyway!

You want to help people envisage themselves living there. People can find this difficult, so by removing as much as possible, it will help them see the space available

But not too much. You don't want it sterile, like a cheap hotel room....

People are buying into a lifestyle as much as the Property. So show them an attractive side of your lifestyle.

Need some advice to improve your home ready to sell? 

Ask me for help

Property Focus: Kenilworth Walk

Kenilworth Walk

Another Interesting Property on the Market with Wilson Peacock for £225,000.
This 3 Bed Semi-detached Property Features, 2 Double Bedrooms, a Large Lounge and a recently modernized Kitchen. Its been for sale since Beginning of September, and it would be interesting to know what the level of Interest has been. I think this might be a good buy at the Right Price.
Some of the Rooms would appreciate a bit of Updating, But its the Potential for the Property that is most obvious. The Larger than Average Garden means there a lot of Scope to Extend Further or Add a Conservatory. Upstairs could be remodelled to utilize some of the Dead Space on the Landing.
It all depends on your Imagination and of course your Budget.

Its a shame that the Agent is not that forthcoming when describing the property. Not what I would call a FULL Description.......

TOP SELLING TIPS 7

Is this a House or a CAVE?

Some houses can suffer from Dark Areas, so you need to address this.

Firstly make sure all windows are clean inside and out. Curtains should be held Back, if possible, allowing the Maximum Light in.

Make sure all lights are working and any shades are clean and Tidy. If you have any Dark Areas try to ensure a lamp is on in that area.

Might be worth using a mirror as these can help reflect light and can make rooms feel bigger.

You want the rooms to feel light and airy as they will fell bigger and more attractive.

Need some advice to improve your home ready to sell? Ask us how we can help

TOP SELLING TIPS 6

Killer Kitchen.

No this does not relate to the Latest B Horror Movie!

The most Valuable room in your Home. Worth more per square foot than any other and can make the difference if the buyer is unsure.

Therefore, it is worth considering spending some money to get the Sale. Changing the Worktops is expensive but can add serious value. Consider changing just Drawer and Door fronts as this is considerable cheaper and often just as effective.

It may be worth looking at Plumbing fittings/ White goods and changing if you feel it may make the difference. Just remember you may sell quicker, but you will probably not re-coup their full cost.
More soon!

Property Focus: Sherbourne Way

Sherbourne Way


On the Market for £290,000 this looks like a good value 4 Bed Detached Property.
Sherbourne Way is a Quiet cul-de-sac just of Brecon Way. If you are like me, an avid dog walker, you'd like the fact its so close to Mowsbury Park!
On the Ground Floor we have a spacious lounge/diner with conservatory attached. Kitchen/Breakfast Room with a separate utility room. Hall with Downstairs WC round things off nicely. Off road parking and a garage pander to your Automotive needs.
Upstairs we have 2 Doubles, 2 Singles and the Family Bathroom.
A nice family home, well worth looking at, even if the Photos do look a bit overexposed!

TOP SELLING TIPS 5

COLOUR ME BAD?

So you like Pink do you? Or is it Purple that really does it for you.
Trouble is not everyone agrees, so time to break out the Paint.

If you have any walls that need attention then get cracking. Just remember, neutral paint will make your home seem lighter and bigger.
It will enable the viewers to more easily imagine how they would adapt the rooms to their needs.
They can move in not have to worry about that Bright purple or Green.

Don't forget the Front Door. A good coat of freshly coloured paint, be it a nice Deep Red, Blue or Green will create a good first impression.

Property Focus: Harrington Drive

Harrington Drive

This week we have this unusual three bedroom extended family home. Although address is Harrington Drive, it faces onto Rowallan Drive. On the market for £270,000 Corner Plots like this are invariably generous. This case proves the point, having been extended, a conservatory added and a good sized Garden to boot! Entrance porch, downstairs W/C, lounge, kitchen/diner and conservatory provide the accommodation downstairs. Upstairs there are two double bedrooms, one single and family bathroom. Off road parking leading to a single garage are situated to the rear of the Plot. Its nice to see that the Garden is beautifully maintained and adds to the Attractiveness of the Property. A very nice Family Home at a reasonable Price.

TOP SELLING TIPS 4

Now to the Back Garden.


If you garden looks like something from a War Film or from the Amazon Jungle then its time to Act.

Time to go to War on those Weeds!

Trim Back any overgrown Shrubs or Bushes (don't worry they'll grow back quickly at this time of year- just remember to leave some green!)

Cut and trim the Lawn. Repair any Patches with fresh turf or Seed. Put in some border plants add a bit of Colour. Either in Pots if you have any or in the Beds.

If you have Outbuildings/Sheds, Make sure they look well maintained and not like they're about to fall down.

If you have a Garage try to Tidy that a Bit, even better, put your Car in it when you know someone is viewing.

If the Garage Door is a bit Rusty then a rub down and a lick of Paint will transform it.
Just remember, Gardens grow, so you'll have to keep on top of it

Thanks for now

A Tale of two landlords

A landlord popped into our office the other day , who has a managed portfolio and wanted to know what happens when a tenant fails to pay rent.  We told him the story of two landlords , two different tenancies. Both fully referenced however one landlord decided to take out Rent and Legal insurance and one didn't.

Both tenancies commenced without any hitch. However after a  couple of months due to a change of circumstance the tenants got into rent arrears.

This is where it changes

Landlord A :  had paid £140 for rent and legal insurance

When the tenant got into 2 months of arrears , we informed the insurance company. And they commenced paying the rent. And also commenced legal action at no extra cost. They served the appropriate notices and also attended court. And whilst this process took place the rent still got paid.
Eventually the tenants vacated before a bailiff was called and at this point the insurance company offered the following support :
Once the property is ready to be re-marketed, there will the potential to claim extra rent guarantee The policy also provides cover for the pursuit of a property damage claim against the former tenants. We will need to provide the solicitors with any evidence we can, in relation to the same. The solicitor will need to then investigate whether the claim has reasonable prospects of succeeding. Presuming that they believe it does, the insurers shall continue to indemnify the costs of pursuing the claim.  The solicitor will also continue to pursue the former tenants for recovery of the rent.

Landlord B :  hadn't taken any insurance

The landlord had to instruct a company to act for him
Their in-house legal team serve notice on the tenant cost £117.00
Choose Section 21 for Accelerated possession only (£802 includes court fee, solicitors fee and VAT)
Choose Section 8 for rent arrears and possession (£859 includes court fee, solicitors fee, advocate fee and VAT)
Checking your notice, proceedings issued, court date set and advocate instructed. He appears before a judge to get a possession order.
If the tenant doesn't leave by a date set by the court. Arrangement for officials to remove the tenant. Cost between £227 and £780.00
Don’t forget that during this time the tenant may still not pay any rent so this could still be accumulating.  And this process could take up to 2 months,  if the rent was £600 per month this could add up to £2400.  And there may be additional costs for dilapidations.

In summary Then:

Landlord A : total  cost £140.00
Landlord B : total cost £4156.00 possibly more

I know which Landlord I would prefer to be !!!!

If you want to know more about our rent and legal insurance call the office or pop in and see us.

TOP SELLING TIPS - 3

First Impressions

Stand outside your Property and look at it?
What do you see?
Does it look tidy?
Imagine you are a buyer looking round the Area. Does your property have Kerbside appeal?
If not take steps to address. If you have a Front garden, get the gloves and get weeding.
Put in some colourful Border Plants to Brighten it up.
And make sure your House number is prominent!

Remember, first impressions are important and Set the Tone for anyone visiting.

TOP SELLING TIPS - 2

Fix and Clean.

Remember the Mice from Bagpuss?!

Get cracking on all those little job that need doing. Fix holes, repair broken door knobs, replace worn out Carpets,
Sort out that Cracked tile in the Bathroom. Anything that is broken that will feature in your Home.
Then get cracking on that cleaning!
De-limescale, clean and repair tile grout/bath seals, Vacuum, Clean Carpets/Curtains/Nets.
Wash the Windows etc etc
This will make the place more appealing and allow viewers to imagine living there.
Ask yourself. Would I want to be repairing/cleaning the day I move in?

Case Study: Fulmar Road

After Last weeks shocking Property Focus on Poplar Avenue, I thought it appropriate to illustrate. How it should be done with the Help of Our Friends at Urban & Rural

Fulmar Road

This Property was offered for Sale on Rightmove on August 28th. It had sold within 48hrs. Why?
It is clearly evident that the Team at Urban & Rural have put some time and thought into it Presentation. There is an interesting, short but Concise Property Summary. There is a detailed Floorplan and the Map/Street-view is pointing to the Right Area of Bedford. There is an EPC. All these are Basic things that the Agent should be doing as a matter of course.
It is clear that the Owner has worked with the Agent when it comes to the Photographs. They are both good quality and the shots appear clutter Free.
All this combines to make the Property an attractive Proposition, which in turn will encourage serious Buyers to want to view.
It just shows you, that it pays to be careful with who you choose as your Agent.

Email Link if you want to comment

TOP SELLING TIPS - 1

Preparing your Home for selling is essential, as not only will it help sell quicker but may also add to its Value.
So remember - If you FAIL to PREPARE then PREPARE to FAIL

Just put yourself in the position of a prospective Buyer and try to view you home as they would. Honestly Ask yourself, would I buy it? What would put me off? Go round your house and look at it objectively. List down the Postives and the Negatives.

Now lets get to work on those Negatives.......

Property Focus: Poplar Avenue

Found this on Rightmove Earlier today. Looks like it might be a good Buy at £300,000. A 4 Bed Semi-detached like this is on Poplar Avenue is usually very generous in its accommodation. I think?

Poplar Avenue

And there in lies the Problem, The Agent has really cut too many corners with this. If I were the owner I would, quite justifiably, be a bit miffed. Even the Click Through Brochure doesn't tell you anymore.
Does the Agent even want to Sell? Why such an obvious Lack of Information? Are they just chancing there arm hoping that they get away with the absolute minimum?

Elevation? More like demotion....

If you are, or know the Owner you might want to do or say something.

Email Link if you want to comment.

Come on down.....The Price is right!

So the great unanswered Question arises. How much is your house worth?

Allow me to illustrate with a common Scenario:


I bought it for £250,000 three years ago. Prices have risen by 20% in the intervening period therefore £250k + 20% is £300k. Cushty (as Delboy would say!).
Your old neighbour Ian, had sold his about 6 months ago and managed to get £300k for his, so that figures. And Ian's didn't have such a big garden as yours
Agent confirms this having looked at comparables and feels that the price is achievable.

So we put it on the Market for £300k and wait for the floodgates to open.........

First up Mr and Mrs Harrison turn up say they like it but they have others to look at, so will be in touch if they are interested.
Next to view is Terry and his friend Roger who claim to be professional sharers. They both like the Master Bedroom but the other two Bedrooms are a bit Small and they're not really keen on Gardening. 
3rd to visit is Katherine and her two children. The Kids love it and tear round the house creating merry hell, but you bite your lip as this looks it could be the one. Katherine really likes the House and leaves making all the right noises! 

Folllowing Day agent phones to ask how it went. You say that you thought it went ok and that Katherine seemed very interested.

Agent follows up appointments and Confirms that Katherine did like the House but for £300k she had seen something more suitable on the other side of Town. The Agent suggests that dropping the Price might sway her, but you say No as the House is worth it. OK never mind

A few days pass and the Agent arranges for Mr & Mrs Godley to call. They are in a hurry as they have a lot to look at and are in and out in Five Minutes. WOW, was it worth it?
Then didn't even notice the feature Fireplace, and never even looked in the Utility Room! 
Next to arrive is Mr Sugden. A very Tall, but quite quiet and unassuming man. He is quite the reverse of Mr & Mrs Godley and takes nearly an hour to view. 
He wanted to know everything about the property, when it was built and by whom, what the neighbours were like, even how acidic the soil was for his rhododendrons! He was hard work.

Following Day agent calls and you explain that Mr & Mrs Godley didn't seem interested and Mr Sugden was a nightmare and that you would appreciate if they didn't send anymore like him around!

A couple of Weeks pass and nothing. So you phone the Agent to find out what's happening. they explain that because of the school holidays, buyer inquiries tend to slow down and that once the Easter Break is over Inquiries should begin to rise again. Fair enough you think....

Easter passes and week later you phone the agent again. They say that the market has slowed and that it might be appropriate to drop the Price by £15k, and that should increase the level of enquiries......

Hang on a minute my house is worth £300k, now the Agent is telling you its not. I should drop it by £10k?

Are they for real? House prices have gone up 20% and Ian sold his for £300k and he has a smaller Garden. Who do I Complain to ? Bloody Estate Agents!



Okay so might seem a bit silly, but it does happen. 

The reality is nobody truly knows what a house is worth. 

Your house is worth something to you, but that does not necessarily mean its has the same value to someone else. But as you are selling who's opinion Matters most, yours or the buyers? Its called Market Forces and you can only react to it. Sure there are some things you can do to get an idea, but thats all it will ever be, 'An Idea'. I'll cover these in a later Blog. Even RICS Valuers with their 'Red Book' of Standards will still refer to Estate Agents occasionally to get a 'Market Value'.

Agents will visit and are expected to know exactly whats its worth. Many will have a good idea based on their experience, but will probably over value in order to get the Instruction. This is especially true if they know you are asking other agents to Value. Once instructed, they will ask you to drop the price by 2.5% after 2-3 weeks if interest is low and again after that if necessary.

A house is only worth what someone is prepared to offer for it at any given moment. And if that figure is the Same as yours then Bingo! You've possibly got a Sale. 6 months later you might get £310k. Conversely you may be offered £290K! Nobody truly knows.

Its all a question of being on the market at the right time, with the correct offering for your target market!

If you want to know more then Drop me an Email or pop in and See Me

Putnoe Rentals vs Sales

I've just been trawling through rightmove looking for suitable Rental Properties in the Putnoe Catchment Area. Guess How many are available? 8. And 2 of those are Commercial. Out of 15,000 houses or whatever the current number of Properties is, that is a minuscule Number.

You would rightly draw the conclusion that the market is mostly Sales with very few Rental Properties. But the Fact there are so few skews the facts slightly. It doesn't necessarily indicate what the Demand level is, only that there is a low supply. In our experience, the demand for Rental Properties in the Putnoe has always been high due to a number of factors. Firstly, there a a lot of Schools within the Area. Secondly, the Area is fairly mature and well Established with lots of Green Areas and Parks. Given a choice, most quality Tenants would choose a well proportioned, established Family Home all day long, if its within their budget.
Finally, the last few years have shown an increase in Demand for Good Quality Rental Properties. Changes in Lifestyle and Work requirements means that for a growing number, Renting is the best solution for their own lifestyle.

Now that the Average price of a 3 Bed Semi is about £220-230k in the Putnoe Area and that Rental Figure upwards of £900 could be achieved. A fairly reasonable 5% return on investment could be achieved without too much problem. Given that there is very little Competition in the Area the market is ready willing and able to accommodate such properties.

If you would like to know more then drop me a line here

Property Focus: Bamburgh Drive

Everyone likes a BOGOF!

Thats exactly what you get with this property on Bamburgh Drive. A Four Bedroom Detached Property with an attached One Bed annexe. Now thats a lot of Bang for you Buck

Bamburgh Drive

Offered for Sale at £315,000 by Urban and Rural, it features 4 Goods sized Bedrooms, Large Lounge, Separate Dining Room and Utility Room. The annexe is fully self contained with it own Kitchen and Shower Room. Ideal Property for those who run a Small Business from Home, have elderly relatives or regular guests that may stay over. Alternatively, if you dont require the space, you could partition off the annexe and rent it out. Small 1 Bed Property would Rent for about £400-450 pcm. Better than a lot of Flats!
As always, theres a BUT. Its been on the Market since April 2015, bit strange for a nice looking property in a Nice Part of Bedford. Is the Agent bothered? Is the price justified? Do they really want to sell? Dispute with a neighbour ? Who knows.......

Email me here

Do semi-detached properties on the Poplar Avenue make good investments for Buy to Let?

I was talking to someone who lives in a semi-detached house on the Poplar Avenue. He wants to purchase his first Buy to Let property and has noticed our shop on Tavistock Street and my previous articles, so was interested in getting to know the industry a little bit more.

As he has lived on Poplar Avenue for over 8 years and he felt comfortable investing in the area, as he knew it well. We started to discuss the property market in this area.

Firstly, we found that 30 semi-detached houses have sold in the Poplar Avenue since the year 1999.
Property values in Bedford have risen on average by around 73% over the last 14 years, but most semi-detached properties on the Poplar Avenue have beaten that rise. 
When we look back to 2001, a three bedroomed semi-detached property in the Poplar Avenue was bought for £133,500 and sold in 2013 for an impressive £215,000.  

With excellent capital growth you would expect yields to be comparatively lower, but most three bedroomed properties in the area can be picked up from £240,000 to £250,000 and could have achievable rents of £950 per month. This means annual yields can be around an attractive 5%!

If you would like to talk to us about your potential investment, please come into our office on Tavistock Street.

Property Focus: Putnoe Heights

Putnoe Heights - Bungalow

There something Quintessential about Bungalows. In this day and age, most new houses are being built upwards to make the most of the Land available. 3 Floor Town Houses feature on most new Estates.
Bungalows hark back to a day when we all had a bit more Space and were not as rushed as we are in todays modern environment. They offer a sort of peaceful tranquility.
They all tend to sit on good sized Plots and feature good sized Rooms.
This one in particular illustrates the point perfectly, and one I know quite well as I walk my dogs on Bowhill Park, which the property is situated next to.
Offered for Sale by our Friends at Urban and Rural it features good sized Rooms as well as a Conservatory that overlooks the Park.
As they say nice Retirement pad or a small family Home.
Now heres a thought. Most people wouldn't Associate Bungalows with Renting. But one things remains true,  the few we have on our Books never seem to be empty........

If you'd like to no more or just a chat, please get in touch!

Chicken or Egg?

Ah the age old Question, which came first? Do I find a buyer or a new house first? 

Fortunately, the answer to this is a bit easier to decide.

Without a doubt, make sure you secure a buyer on your existing House before you Make an offer on anything else. If its done right, buyers will flock to your property. 
Until you have an offer you don't really know what you've got to play with.
There is absolutely nothing wrong with checking out the Area where you hope to locate to. Speak to Agents, browse about and have a scout the area. 
But dont get all emotional about anything in particular, because in all likelihood it may have gone when the Time comes.

Having an offer on your home will also en-power you with any negotiation as you will be taken more seriously. 
You will be able move more quickly and dictate the pace more easily.

Want to know more? Email or pop and See me in the Office

Budget: Tax Changes

What Will The Tax Allowance Changes Mean To Bedford Landlords - And What Can You Do About It?

The Chancellor George Osborne sprung a rather unexpected and nasty surprise on Landlords in the recent budget, by restricting interest rate relief on Buy to Let mortgages - now the dust has had time to settle I thought it worth taking a look at what it may mean for Bedford Landlords

The Chancellor has cut the tax relief that private landlords receive on their mortgage interest payments, cutting it from 40% or 45% for higher rate taxpayers to 20% by April 2020

The new restrictions start in the 2017-18 tax year on a sliding scale, and become fully effective in 2020-21

The changes will only affect higher rate tax payers, so Landlords who only pay the basic 20% rate of tax will not be adversely affected

This phasing in will mean that 25% of this extra tax will be payable on profits made in the April 2017- April 2018 tax year, 50% in April 2018-April 2019, 75% in April 2019-April 2020 and 100% in April 2020-April 2021 meaning that the full effect of this wont be felt until your January 2022 personal tax bill is due

On a property worth £100,000, a landlord in a higher tax bracket with an 85% loan-to-value mortgage and a mortgage interest rate of 5% would end up losing £100 a year. When the rate reaches 5.5%, the burden on the landlord's finances will jump again, triggering a loss of £440, and then to £780 when the rate reaches 6%, according to financial experts

Industry professionals say George Osborne's Budget move is likely to hit people who have sunk their money into property because they were getting no interest on their savings in the bank, or following the financial crisis, no longer trust the pension model, and are relying on rental income

Ultimately this change in tax relief for Landlords will not only affect landlords, it will also be detrimental to Tenants because ultimately, if Landlords' margins are squeezed, they will be forced to increase their rents to make their investments work, or sell up

It is still early days and we need to see how HMRC will implement some of these changes but here are some initial thoughts on how we could tackle this change

This change only seems to affect individuals and partnerships/LLPs. Ltd companies seem to be excluded. Landlords could potentially look to purchase their future properties into Ltd companies (if this works Buy To Let lenders will become more open to this-otherwise commercial lenders will already facilitate this)

For those who already own properties personally or in a partnership/LLP they may want to transfer them to a Ltd company (but they will be subject to capital gains tax and stamp duty)

An easier way to do this if you want to keep your current mortgage would be by using a deed of trust, which would transfer the beneficial ownership to a Ltd company

A good solicitor can draw one of these up for you but please seek professional financial advice before doing so as it will affect the way you get your money out in a tax efficient manner (you will either need to take the money out on the form of dividend, salary or bonus, none of which are tax efficient) and furthermore tax on gains will always be payable at some point (capital gains tax stops being payable when you die but Ltd companies are immortal!) 

New analysis from accountants PwC featured in an excellent Daily Telegraph article has shown that if a private landlord transfers one or more properties into a company structure, known as incorporating a business, the total tax rate is greatly reduced.

"This is because a company is paying tax on the actual profit and therefore the rate does not fluctuate wildly. If the profit reduces, so does the tax," said Paul Emery, a tax partner at PwC.

"If the rental property is run privately, there is a scenario where because you no longer get full tax relief for your expenses, you can pay tax even if there is no profit," he added. "That means potentially enormous effective rates of tax."

By 2020, when interest rates are likely to be higher, the levy on a property worth £100,000 to a private landlord in a higher tax bracket - with an 85pc loan-to-value mortgage and a mortgage interest rate of 5pc - would be 106pc

As a result they would expect to suffer an annual loss of £100

If the same property were run as a business, the landlord would pay a tax rate of just 49.2pc and bank £888.

If mortgage rates go up further, the contrast becomes more stark

If rates hit 6pc, a property owner operating under a business umbrella would again pay 49.2pc, but the private landlord would pay 186.7pc tax, and make an annual loss of £780, according to the PwC model

"Other taxes such as stamp duty and capital gains tax could affect profits from a rental business, especially for a landlord with only a handful of properties," warned Mr Emery

If the owner is a sole trader, he would pay stamp duty again on the "incorporation of the business" based on cost of the property

But if the owner is in business with a partner, they could enjoy some stamp duty relief

Alternatively, if a sole trader or business partners own more than six properties, it is classified as a commercial property business and they will only pay a flat 4pc stamp duty on the sale

"The big tax difference is capital gains tax when the company finally comes to sell and dividend the profit to the owner at 49pc compared to 28pc for a private landlord - but at least you would know what your effective rate of tax is, and if you are reliant on the income rather than the appreciation of price, it may be a hit worth taking," said Mr Emery

"Although incorporating your business helps you guarantee your monthly tax bill, it is not a magic solution. Tax is only one consideration when forming a company. For example, audited accounts might need to be filed," he added

Savvy landlords will look to purchase more properties that need refurbs

Another change is that Landlords can no longer claim 10% tax relief for wear and tear (and instead must claim back the actual amount spent) as long as the property is in a lettable condition when you buy it (but still needs redecoration) and comes into the lettings market before the refurb. is done most repairs/replacements such as kitchens, bathrooms, paint etc can be offset against all property income from your whole portfolio

This means that a £7,000 refurbishment could potentially come off all of your other rental income profits

So the solution for those most heavily affected by this tax change could be to buy a few properties that need a refurb every year

Given the changes will only take affect between 2017 and 2020 there's plenty of time to prepare and undoubtedly there will be further advice and guidance over the coming months with strategies being developed to mitigate against the losses 

As always my advice would be to consult an expert on such matters - the above are just a few pointers I've picked up from reading exhaustively about this since the change was announced


If you'd like to discuss what impact this change may have on your rental income speak to an accountant or tax adviser (I can recommend one if you wish) or to discuss any aspect of the Bedford property please drop me a line to nigel.bywater@belvoir.co.uk or Call 01234 290685