With the arrival of sub 4% mortgage deals, banks are attempting to outdo each other by setting headline-grabbing rates. And with better deals on the horizon, with lower rates for those with smaller deposits, homemovers are starting to make a move.

Your property’s value will increase
As interest rates lower, demand for your home increases. Your home has become more affordable to buyers who need a mortgage to purchase it. A rejuvenated property market, which is enduring a shortage of homes, means your property's value increases. But as prices rise, you may have to borrow more, so it could be worth making an early move to get ahead of buyers returning to the market.

A quicker sale
With more buyers returning to the market, you are more likely to achieve a quicker sale. Let’s be honest: once you have decided to move and have found the right home, you want the entire process over and done quickly. Better mortgage deals mean more buyers are in a position to move. This also applies down the chain, meaning you are less likely to encounter delays.

An increase in certainty
The UK property market performed far better than many expected in 2023. In the aftermath of so many interest rate increases, the steadying of the base rate towards the end of last year came as a big relief to many homeowners and homemovers. Lowering interest rates and a positive outlook for the year ahead mean you can feel more confident as confidence in the market increases.

Lower mortgage payments and faster equity growth
Lower rates mean lower mortgage payments, with more of your payment contributing to the outstanding balance of your mortgage. This means you can build up equity far quicker. If you are planning on moving to your forever home in a few years, lower rates mean that you can move up the ladder more quickly. Financing home improvements also becomes more affordable.

There are other ways to save
Moving to a better home and making good investments has a hugely positive impact on your life. There are plenty of ways to make moving a viable financial option to counter slightly higher interest rates. If you can save on your commute, enjoy greater energy efficiency, have a better work-from-home space, and make your family happier, you will save money.

Your property story can begin
Are you a first-time buyer, downsizing, planning on retiring to a holiday home, or want to boost your pension while living in a more compact, energy-efficient property? Perhaps you love restoring and improving properties, like living in them for a few years, then moving on to the next project. Maybe you could be a fully-fledged buy-to-let investor?

 

Become the author of your moving success story by contacting us

 

In today’s technology-driven world, many landlords might ask the question: Why should I use a letting agent when a search engine can write my tenancy agreements for free?

While it might be tempting to construct your own tenancy agreements using an online template or to simply ask an AI engine to do it, there are several key reasons why this is not a suitable option for modern landlords.

Inadequate protection
Tenancy agreements are just as important for protecting landlord rights as they are for tenants. A tenancy agreement which hasn’t been crafted according to local and up-to-date legislation may lack crucial clauses which provide both landlords and tenants with necessary safeguards. These clauses may cover things like property maintenance, rent increases, or handling tenant violations.

When a professional puts together a tenancy agreement for you, they can include provisions which will empower you to take appropriate actions if your tenants breach the terms of the agreement. Agreements crafted without expertise may lack the comprehensive language and the knowledge required to address various disputes which may arise during a tenancy.

Legal compliance issues
Your tenancy agreement is a legally binding document, so it must adhere to the laws of the local jurisdiction. This may sound straightforward, but laws surrounding tenancy agreements can be extremely complex and vary significantly from one place to the next.

A DIY tenancy agreement may not account for the specific legalities of your location, especially if a generalised template has been used. This can leave you vulnerable to both legal and financial repercussions.

Potential for ambiguity and confusion
Poorly written tenancy agreements open up opportunities for miscommunication and ambiguity between landlords and tenants. It’s crucial to use clear and precise language to avoid confusion, as a lack of understanding can lead to disputes over payment schedules, responsibilities, and other important terms. Once disagreements between the landlord and tenant arise, this creates room for legal implications which could have been easily avoided with a professionally drafted document.

Notice periods
If you aren’t well-versed in the complexities of tenancy agreements, writing your own could mean that you fail to get the paperwork right regarding notice periods. This could subsequently invalidate any notice you need to serve.

Letting agents have their fingers on the pulse for all recent rule changes and updates to notice periods, allowing you the peace of mind of infallible legal compliance.

Possible financial implications
Using an online template or an AI bot to construct a tenancy agreement may seem like a cost-saving measure in the short term, but this can have long-term financial implications. Failure to draft a legally compliant and clear tenancy agreement can expose you to legal battles, fines, or even having to compensate tenants for damages or violations. Whether you’re a first-time landlord or you have an extensive portfolio of properties, it’s essential to opt for a professionally crafted agreement from the outset to safeguard your investment.

 

Love is in the air at this time of year. Although you may still love your home, ask yourself, Are you ‘in love’ with it? If the answer is no, here are some ideas to bring back those special feelings. Or is it time to move on by finding a property you adore?

Seek inspiration
Your friends, family, magazines, online articles, and favourite home improvement TV shows are all fantastic sources of inspiration. Open your mind and consider homes that are completely unlike yours. Nature and art can not only add a new dimension but also give you plenty of ideas. Amid this, it is important not to forget the most important things, and that’s you and the people who share your home. So, express yourself and add a bit of you, whether that’s your love of weathered furniture or photography of local scenery.

Experiment with your layout
Do not underestimate the massive impact that rearranging your furniture can have. Perhaps there is a better use of your space. You could start by changing the location of larger furniture, such as tables, chairs and sofas. If rearranging isn’t enough, you could introduce new themes, such as antique contrasted with modern minimalism, and change the whole feel of a room. Although ‘de-cluttering’ may be tempting, it is important to retain items and furniture which have joyful memories attached to it.

Home improvements
Many homeowners are improving their homes with future buyers in mind. There are hundreds of ways to add value to your home. On trend for 2024 are al fresco living spaces, glass door walls, smart technology, efficient kitchens, and eco-friendly upgrades such as solar panels. Adding another room by converting existing spaces and removing walls can make your home feel much larger. With the right renovations and decorations, your entire home will feel like new.

Discover a nicer house
Sometimes it’s easier to move to a better home. Home improvements can be far more stressful than moving. And if you know you would be happier in a different home, it’s an easy decision. Fulfil your desire for improved garden space, a beautiful bathroom, better views all in your ideal location by simply moving. Many UK homes have undergone vast improvements, and good agents make moving easy. All you have to do is decide which home you love more—your existing home or your next!

 

The housing market has once again proven resilient despite residual uncertainty as we move into 2024. According to Zoopla*, new sales agreed ran 17% higher in November than they were at the same time in 2022, while buyer demand has climbed by 19%.* .

 

Tentative signs of growth

Confidence in the market has taken a series of hits over the past couple of years, starting from November 2022 following Kwasi Kwarteng’s Autumn ‘mini-budget’ announcement.

Today’s market has recovered nicely with an increase in the number of homes available for sale – up 25% in the last year – boosting choice and supporting sales.*

Zoopla also reported a further drop in mortgage rates, with some incredibly competitive rates for borrowers with a 60% LTV*. This is set to strengthen affordability and boost buyer demand in the coming months.

With the help of a trusted letting agent’s skills and knowledge, you can diversify your portfolio and experiment with different projects to see what works best for you.

 

How to time your move

While conditions are improving, the housing market is in a constant state of fluctuation; so, timing is everything. By considering seasonal nuances, market trends, and personal schedules, you can make an informed decision for your move.

Seasonal considerations

Each season will have its renowned pros and cons for moving. There is a lot of misinformation online about seasonal market dynamics, so it’s important to speak with a local agent who can provide you with accurate and localised data to help you weigh your preferences against practical factors.

Create a timeline

Moving is a step-by-step process which takes a lot of time. You can stay organised and even speed things up by developing a detailed timeline for your move. Consider when you will start packing, which dates the kids are off school, and when to hire tradespeople. This should provide you with a clear and realistic idea of what date you can get moved in by, allowing you to plan around work and any other commitments.

Should I put my house on the market before looking?

Having your home on the market while you’re looking for your next will put you in a stronger position as a buyer. When the market is competitive, some sellers may even sell their homes first and rent for a while so that they can be chain-free buyers. Your position as a homebuyer is strengthened if your home is already under offer or sold, as this shows sellers that you’re a serious buyer who can move in quickly.

 

 

 

Is your home ready for the market? Get in touch with our expert team today to find out how we can help