While the world of first-time buyers is filled with swirling confusion and the creeping fear of adult responsibility, it absolutely needn’t be. In the interest of providing the best service to our customers, Love Your Postcode have made it even easier for you to understand the minefield of fees created by buying property. By creating this step by step guide to the costs of buying property, we have removed one more obstacle between you and your future. In two parts, we will help you to understand exactly what it is you’re paying for and how much it could cost.
When offers don’t come in following viewings, selling your home can be frustrating. Especially when you don’t know why others don’t want to buy your home and you feel like there is nothing you can do to help.
However, you can make a bigger difference than you might realise to your sale. In this blog we discuss things you can do to help get your home sold.
The world is talking about the housing market in Birmingham. Having seen a surge in the amount of people moving from London to the Second City rather than stay in their extortionate homes, it is safe to say that we are seeing the biggest “Boom Time” in 10 to 15 years. Watch our own property guru talk on this topic on BBC Midlands News here.
An experiment conducted by insurance company AXA has revealed how sloppy photographs can alter the perception of a property in the eyes of the public – and can therefore make a home harder to sell, and possibly fetch a lower sale price.
Soaring house prices in the UK mean that one in every 76 Britons is now a millionaire, up from one in 84 last year.
The tightrope of being a Birmingham buy-to-let landlord is a balancing act many do well at. Talking to several Birmingham landlords, they are very conscious of their tenants’ capacity and ability to pay the rent and their own need to raise rents on their rental properties (as Government figure shows ‘real pay’ has dropped 1% in the last six months). Evidence does however suggest many landlords feel more assured than they were in the spring about pursuing higher rents on their Birmingham buy-to-let properties.
The most recent set of data from the Land Registry has stated that property values in Birmingham and the surrounding area were 6.12% higher than 12 months ago and 16.72% higher than January 2015.
Despite the uncertainty over Brexit as Birmingham (and most of the UK’s) property values continue their medium and long-term upward trajectory. As economics is about supply and demand, the story behind the Birmingham property market can also be seen from those two sides of the story.
So you’ve been preparing to sell your property, possibly for months, or even longer. You’ve cleaned up, decluttered, depersonalised, done some staging, and taken amazing photos. All those things are important when you’re selling. One thing that is neglected to be brought up with estate agents is the listing description. Writing a compelling listing will help ensure that your listing generates interest and produces showings that result in a sale.
In November 2015, George Osborne disclosed plans to restrain the buy-to-let (BTL) market, implying its growing attractiveness was leaving aspiring first time buyers contesting with landlords for the restricted number of properties on the market. One of things he brought in was that tax relief on BTL mortgages would be capped, starting in April 2017.
Before April 2017, a private landlord could claim tax relief from their interest on their BTL mortgage at the rate they paid income tax – (i.e. 20% basic /40% higher rate and 45% additional rate). What does this mean for current landlords, and is there any other options to reduce the amount of tax being paid?