November 2020

You could say the property market is booming. But is it the right time to buy for you? And if it is, what can you do to maximise your assets?

Looking from the outside in, the property market is buoyant. On the surface, our business has been very lucky to have benefited from the stamp duty holiday and the existing Help to Buy (HTB) scheme.

But we wanted to give you some insight before you make any decisions.


What Help to Buy means for you
The HTB scheme as we know it today will come to an end in March next year.

The current scheme allows anyone to use HTB benefits, even those who are already homeowners – as long as their new purchase becomes their primary home.

Coming into play on April 1, 2021, the new HTB scheme will take over.

We’re helping our developers prepare for the changes, which will run until 2023.

It will be available to first time buyers only. Because of this, we are seeing more affordable two and three bed properties in the making on the developments we’re marketing. So, if you haven’t found the right new build out there for you, it might be best to remain patient.

As for developers, we’re advising our clients to think ahead to the coming years. Staying up to date with the Government’s future plans could be the key to your success. Not being in the know, however, could mean the keys to your properties remain in the key safe for some time.


Buying a home in lockdown
If you’re planning to move, you will have most likely asked yourself if it’s wise to do so right now. And then, the stamp duty holiday may have tempted you. On top of that, talk of the current HTB scheme coming to an end may have given you that extra push.

As an open and honest property consultancy that aims to build long term relationships with buyers and landlords, it is with no fear or shame that we may talk ourselves out of a sale here.

We urge you to do your numbers. Figure out if you can really afford to buy right now.

While buyers are happy to make higher bids for properties because they’re saving thousands due to the stamp duty holiday, house prices are rising.

A house worth £250k is now going for around £270k because both sides of the chain are eager to take advantage.

But we predict, when it comes to remortgaging in a year or two, those buyers might have a nasty surprise waiting for them. Because they’ve paid more for a house than what it was worth, they may find themselves in negative equity.

Lenders may only be willing to offer a deal based on what the house is really worth. Now in a sticky situation, the buyers will need to find the extra funds from elsewhere.

Make sure your earnings mean you can afford the investment in the long run. If you can afford it, get in touch with us. If you can’t, try to hold fire for the next six months.


Building your portfolio as a landlord
As our client, when your portfolio increases, so does ours. We constantly re-evaluate for you and look out for properties that would suit you.

One gentleman came to us last year having bought his first buy-to-let. He just wanted to see where the opportunity could take him. He was working full time so we managed his property for him.

As enticement for our landlords, the more properties you have with us, the lower we make our costs. That same landlord now has three properties under his belt – in just under 12 months.

Some prefer to stick with just the one property and that’s fine. It’s a different conversation in this case. We’ll help you to maximise your yield by making your property unique.

With a broad range of partners, we provide high end services that can increase property values by thousands.

If you’re thinking about dipping your toe in the buy-to-let market, give us a call for free advice.


Interior design to maximise potential
By simply updating a kitchen or bathroom, you could convince a family to make your property their forever home.

Put substandard properties on the market, and you’ll attract substandard buyers and tenants.

With our new build developers in Fleckney, we are currently designing the interiors.

We remind our developers to keep in mind that the homes they’re designing aren’t for them. Base your design choices on your target buyer.

Would they prefer a minimal look? Or would they like to see how the rooms can be used to their full potential?

The psychology of design is an important factor in marketing property. Let us know if you need any tips.

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