Homeowners are covering all bases!

There are homeowners amongst us who are thinking outside the box by fixing part of their mortgage and leaving the rest on a variable rate.

They have the perk of incredibly low interest rates plus the added security should rates suddenly rise of being part fixed.

The majority of banks have allowed these mixed these deals, but some may charge two arrangement fees. An example of this is may be,

a Halifax customer with a £150,000 mortgage and 40% equity in their home could have £75,000 fixed for two years at 2.99%, giving monthly repayments of £355.

The other £75,000 could be on a two year tracker rate pegged at 2.04% above base, giving a current rate of 2.54% and monthly repayments of £338. They would pay the fixed-rate fee at £1,895, but not the tracker fee at £995.

If there is a a sudden rise in the base rate, the customer would be a little more protected, if it remains the same they will benefit from the tracker rate.

 

Be wary this Christmas!

An interesting article caught my eye this lunch time, (not just randomly reading ‘Grazia', a proper informative work article) "Christmas time for burglars" stated the heading. It started me thinking. Is my own property vulnerable? Have I left the ten foot tree bedecked with baubles and twinkling lights, surrounded by mounds of enticing gifts, all to the mercy of the overworked Christmas burglar?

Granted the ‘sweater' from Gran could go, but how devastating to find it all gone, and that feeling of having uninvited pillagers in your domain.

We all at some point over Yuletide leave our properties  empty, shopping trips, social events and visits, while with the elongated break, some of us even take holidays in the sun, (If only). Add this to the fact that the prospective booty is fantastically easy to target- conveniently left either in the hall or sitting room, well its like heaven for the potential thief!

The statistics tell us; burglaries peak not in the holiday month of August, but in the November to January period. One poor lady told of how she was visited on Christmas day!

"We had gone to visit my parents in Wales, and spent a lovely Christmas day with the family," she says. "We were enjoying the break from London - in fact, we were in the middle of a country walk when we got the phone call. It seems the burglars had got in on Christmas morning. Our holiday came to an abrupt end and we went back to face a ransacked flat. Everything had gone - cameras, video recorders, jewellery and my brand new computer."

It seems that the burglars had come through a communal front door that should have been secure, but the security lock had been left undone.

What can we do? Well, apparently most burglars are essentially opportunist, zoning in on the weakest link in a property's security. There are a few things that can be done to strengthen a property's defense-

Strong, secure doors with adequate locks are the first line of defense. Over half of all burglaries involve the thief gaining access from the back, so back doors and windows need at least as much attention as the front entrance. Security awareness and co-operation is equally vital - however advanced the specifications of the locking system a nifty thief can rapidly burgle several flats in one property given just one communal entrance carelessly left undone.

Well, I am going to check all our locks. While away at the outlaws I will ask our nosy neighbour to check on our house (she has been dying to do that) I will leave lights on. Not a problem in our house, as no one turns them off! So with a bit of care and attention, we won't be visited by the ghost of burglaries past this Christmas!

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Creative selling

Literally anyone that is remotely related to the property market will tell you that it is really going through a rough old time. The recession, government changes and a general downturn in spending has meant that houses on the market aren’t going anywhere, or at least not quickly enough.

There are those that have had their homes up for sale for so long that they feel they will never move, perhaps they have even only had one viewing!

 

Whilst people will suggest they lower the price of the house, this is not always possible for the homeowner. Those that can afford to do this have found that online property sites have been useful.

The auction format means that more often than not the house is sold for less than the market may offer but it will provide a quick property sale which for many, is highly desirable.

 

If there is absolutely no interest what so ever, it may be time to get creative. An owner in Cardiff decided to offer £15,000 cash reward for anyone that can locate a purchaser for them. It is all about maximising your property’s profile.

Another enterprising seller from The Gower decided that the purchaser of his large beach fronted property will also get his brand new boat free.

 If the going gets really tough, consider what else you could offer alongside your property to make your home even more appealing to a potential purchaser.

 

How do you check out a potential tenant?

Taking a tenant at face value is obviously not the best judge as to whether they are trustworthy, reliable and prompt payers! The question is how do you really check them out? Even references are not foolproof, that is why you need to check out what measures your reference provider is taking to ensure that the information provided to you really is of value.

 

The first part in the letting procedure is obtaining proper references. Your insurance company will insist upon this, especially if you are taking out cover for legal expenses and rent guarantee (a sensible option.) Many agents outsource this service to specialist reference providers, these may differ in quality of service, so check them out! Being a landlord can be quite lucrative, but it can also bring its own issues, from fraud and identity theft to having the tenants from hell.

 

These periods of economic uncertainty are breeding grounds for fraud. Nothing should be taken at face value, it is vital to do the relevant checks. To verify income, gather the relevant references from the tenants' employer and any previous landlords.

 

The next step would be to verify their suitability to actually rent a property. This should be carried out by an unprejudiced , expert third party and must include county court and bankruptcy searches, identification checks and validation of bank sort codes. If utilising a reference checking firm, make sure that they carry out the necessary checks in detail. It is not enough to just have a basic credit check, full identity and fraud checks need to be carried out.

 

The following should be supplied by your provider:

 

 Authentication

 

This literally means ensuring that your tenant is who they say they are. Previous addresses this will throw up if there are any CCJs. Data searches should look for detrimental information at undisclosed and linked addresses, if the tenant has failed to disclose a particular address it could mean that they may have something to hide.

 

Employer’s references

 

It is incredibly important that your client has the means to financially keep up with the rent, so to have their employer's details is vital. The employer's details should also be authenticated as they could be fictitious.

 

Guarantors

 

If a guarantor is getting involved they too need to be verified, and should be as carefully referenced as the tenant themselves.

 

Tenant history

 

Any previous landlord references should include all details of the tenancy even if they were model tenants, did they leave in arrears, leaving all kinds of property damage behind them? Obtain a three year address history with a reference from the most current landlord.

 

Most landlords want things to progress as quickly as possible, but it is crucial to note that you can't substitute quality for speed. All the necessary checks must be carried out properly; it really is pointless trying to rush proceedings only to find that you now have the tenant from hell. It's all about protecting your property and making sure that the rent is covered each month, this is why a full check on your potential tenant is vital.

 

 

Moving checklist

Firstly decide on a day to move (usually completion day) Fridays and bank holidays should be avoided, as removal firms will be in high demand for these days.

Listen to recommendations, or check with the BAR (British Association of Removers)

They will be able to give details of registered firms in your area.

 

Preparation is vital

 

Possessions need to be insured before they are moved. Most removal companies provide insurance. It should be noted that any packing done by you may not be covered by your removals insurance. If planning to transport things yourself, make sure they are insured in transit.

In advance of moving have a good clear out, there is no point in moving all unwanted belongings from one home to another. Have a Car boot sale, or donate unwanted things to charity.

 

Compile a dossier of useful addresses for your buyers, instructions on how to use heating/alarm system etc, this will prove invaluable to them. It is also handy to leave details of milk deliveries and rubbish collection days. Notify all relevant parties of your new address, telephone and internet providers, TV licenses, banks/credit cards, local council and inland revenue to name a few.

 

Gather together all keys, including those from friends, neighbours and family. Make a plan for the removers detailing which room and where your furniture will go.

Colour coding boxes and cases will ensure that they end up in the appropriate room.

Ensure that your mail will be re routed to your new address, cancel all deliveries that you may have and register with your new GP.

 

Hire a removal company as soon as contracts are exchanged and a completion date set. As with most things it is good to have at least three quotes for this, the cheapest is not always the best, make sure that you are comparing like for like (are packing, boxes etc and VAT included.) Always request your quote in writing, and ensure that it includes everything you have requested, including a time scale.

A representative should come and visit you at least three weeks prior to the move; they need to establish exactly what the move will entail. It is a good time to establish any objects that will need special care, for example computers, antiques, pictures etc. You can flag up any pieces of furniture that may require specialist handling, for example a piano.

Inform the removal company as to the parking situation at the new property, access is very important, if difficult it can add to the overall cost of moving.

 

Storage may be required; most companies will accept anything as long as it is not perishable, flammable, illegal or indeed even alive.

You will be charged for packing, transporting to and from your home, the amount of space required and length of time your belongings are stored.

Make a list of all belongings being stored in case anything is missing when delivered.

 

Removal day

 

When the day actually arrives it is literally all hands on deck, if you have small children and pets it is advisable to have someone look after them while the move takes place.

Ensure that the removal foreman has a plan of the rooms for the new house, parking is organised, and that you have all contact numbers required for the move on you.

Upon arrival at your new property check that all amenities are working and take a reading from the meter.

If you have carpets curtains etc included in your purchase, check that they are all present and correct.

 

At the end of what will seem like the longest day of your life, all that is left to do is collapse, get some rest and perhaps enjoy a glass or two of bubbly!

 

 

 

Creative Selling

Literally anyone that is remotely related to the property market will tell you that it is really going through a rough old time. The recession, government changes and a general downturn in spending has meant that houses on the market aren’t going anywhere, or at least not quickly enough.

There are those that have had their homes up for sale for so long that they feel they will never move, perhaps they have even only had one viewing!

 

Whilst people will suggest they lower the price of the house, this is not always possible for the homeowner. Those that can afford to do this have found that online property sites have been useful.

The auction format means that more often than not the house is sold for less than the market may offer but it will provide a quick property sale which for many, is highly desirable.

 

If there is absolutely no interest what so ever, it may be time to get creative. An owner in Cardiff decided to offer £15,000 cash reward for anyone that can locate a purchaser for them. It is all about maximising your property’s profile.

Another enterprising seller from The Gower decided that the purchaser of his large beach fronted property will also get his brand new boat free.

 If the going gets really tough, consider what else you could offer alongside your property to make your home even more appealing to a potential purchaser.