Wednesday 19 August 2020

SIX WAYS HOMEOWNERS IN TUNBRIDGE WELLS CAN SPOT A LEGAL EAGLE FROM A TIRED TURKEY

We share the things you should look for when instructing a solicitor to do the legal work when selling or buying a home.

When you are selling a home, you have two crucial decisions to make.

Firstly, choosing the right estate agent to sell your home is often the difference between getting a good deal or ending up with no deal.

Secondly, selecting the right conveyancing solicitor will no doubt make your life easier and less stressful. Picking a bad one often leads to headaches, hassle and having to chase them up continually.
During the last 11 years we’ve been serving the people of TUNBRIDGE WELLS, we’ve learned a thing or six about what to look out for when it comes to choosing a legal eagle over a tired turkey or a grumpy goose.

Conveyancing is legalese for transferring the ownership of property, whether you are buying or selling.

What Is a Conveyancing Solicitor, and What Do They Do?

A conveyancer, or sometimes known more simply as a property solicitor, does the following for you:

Handle the contracts, be on hand to give legal advice, they are the people who carry out local council searches, they will deal with the Land Registry, and they are the people who will transfer the funds to pay for your property.

They have a significant and vital part to play when it comes to progressing your sale or purchase through to a successful end.

We realise the importance of their role, and that’s why we’ve come up with the six things to look out for when it comes to choosing a conveyancer or a property solicitor.
Six Top Tips

1) Look for recommendations. Ask your family and friends who they have used and would they recommend them.

2) Communication is key. Some solicitors are notoriously tricky to get hold of and can take days/weeks to respond to your questions. Before instructing any solicitor, it’s worth asking if they have a system in place where you can view/check on the progress of your sale or purchase? And what is the minimum timeframe within which they promise to get back to you?

3) Do they embrace technology? This is an excellent question to ask as some solicitors do not hold technology in high esteem, which can cause problems along the line.

4) Holidays. It’s not unreasonable for you to ask if a solicitor is going on holiday during the period when you are looking to buy or sell. The last thing you want is to be nearing the exchange of contracts to seal the transaction and then discover your solicitor is sunning themselves in Marbella. Even worse is that they won’t return for a fortnight and no one else has been left to work on your file.

5) Do your research. Make sure your chosen property specialist is a member of the Law Society of England and Wales/Law Society of Scotland and a member of the Law Society’s Conveyancing Quality Scheme. Conveyancers must be members of the Council for Licensed Conveyancers.

6) Ask us. We’ve worked with hundreds of different conveyancing solicitors over the years. And we’ve experienced a real mix of the good, bad and the ugly (not that we are saying they’re unattractive cowboys or girls). Feel free to give us a call, and we’d be happy to provide you with recommendations and more insight into why choosing the right solicitor or conveyancer will make your life easier and raise your chances of property success.

There are plenty of great solicitors and conveyancers out there, you just need to do your homework to find them.

Thanks for reading and get in touch if you want answers to any of your property-related questions.
We’re here to help.



Tuesday 11 August 2020

What’s next for the Royal Tunbridge Wells Property Market

 There is no doubt that Coronavirus will affect the Royal Tunbridge Wells property market, but just how?
The ensuing economic challenges are going to impact the Royal Tunbridge Wells (and UK) property market, yet no one knows the real answer. The newspapers eulogise different opinions, but that's all they are – opinions and everybody's got a different opinion. The truth of the matter is we don't know and won’t know for another few months at least, if not more?

There have been some outstanding Government supportive measures both for tenants, landlords, home buyers and sellers (including a pause on evictions for tenants, and for landlords and homeowners, mortgage payment deferments and stamp duty reductions to make buying a home cheaper), and whilst these are only temporary, they have done their job, meaning there is a good level of activity in the Royal Tunbridge Wells property market.

A lot of that is pent-up demand from a couple of years of uncertainty because of Brexit. Also, we had the General Election in late 2019, so there have been so many reasons for people to sit on their hands.  At the beginning of 2020, it was like a water hose ready to burst with the Boris Bounce in January and February. Then, just as things were beginning to get going in the Royal Tunbridge Wells property market, we had everything freeze up for months during lockdown. So, since lockdown has been lifted …

the Royal Tunbridge Wells property market is open
 once again for business and there is unquestionably some impressive activity both in the sales and rental market

So, back to the original question and where are we going? I think what we will see is a subtle change to where people want to live because of the pandemic. People working from home has shown that the need to be in the big cities has reduced and as employees have realised, they can work very efficiently from home, plus they are happier and have a better work/life balance. Their employers are also happy as they get more work out of their staff and can reduce their costly office footprint in the cities. The same goes for Royal Tunbridge Wells tenants as they are wanting more from their rental homes. Three trends we have noticed is there is greater demand for properties with gardens, greater demand for Royal Tunbridge Wells landlords who will accept pets (as they now can have them as they work from home) and finally, tenants willingness to pay top dollar for ‘top of the range’ properties, whilst more basic and uncared for properties without all the ‘bells and whistles’ need to go for a discount. There certainly has been a flight to quality.

Yet, what worries me is the fundamental future uncertainty in 2021 and beyond. What will things look like say in spring 2021 when the Stamp Duty reductions are phased out? Any property sold needs to have completed by the end of March 2021 to take advantage of the tax holiday, meaning you need to have sold your Royal Tunbridge Wells property by November 2020 at the very latest to ensure your property purchase and sale deal goes through in time (as it is taking on average up to 17 weeks between sale agreed and completion). This is where the difference between a great solicitor, brilliant estate agent and awesome mortgage broker compared to average ones will show. Good ones, when all three are working together for you, can get the sale through in 6 to 8 weeks, not the national average of 17 weeks, meaning if you are cutting it fine, you might not be able to take advantage of the tax savings in the Spring. Give me a call if you want to know who the best of the best in Royal Tunbridge Wells are to ensure you don’t lose out on those tax savings.  

The value of the average Royal Tunbridge Wells home
currently stands at £476,200

So, what is going to happen to the Royal Tunbridge Wells property market? It really depends on the economy as a whole and of course the property market is a large part of that. I know one thing that buy to let landlords and home buyers don't like is ambiguity and the British housing market has always lived and breathed on emotion and sentiment. People will only buy and sell property (and borrow the money to make those transactions happen) when they feel good. Are all these things like Stamp Duty holidays just putting off the inevitable? Are we heading for the mother of all property crashes?

Well, let me put sentiment and opinion aside for a second and look at the simple facts.

We have an increasing population,
yet we don't build enough houses
Since 1995, we have built on average 150,200 properties per year. The Barker Report said 2004 the country needed 240,000 per year to satisfy annual demand for new homes and whilst the number of new homes built in the UK last year rose 1% to a 13-year high, only 161,000 homes were built. That means over the last 25 years, with the difference between actual homes built and the targets set out in the Barker Report, we have an inbuilt shortage of 2,245,000 fewer homes, meaning.
Since the Millennium, property values in
Royal Tunbridge Wells have increased by 171.3%

Other factors have contributed to that. The average age of a person leaving their parents’ home in the UK is 24.4 years and that has been dropping for a few years meaning more homes are required. People are also living longer (in 2000 the average person lived until 77.7 years and now it’s 81.1 years – doesn’t sound a lot until one considers for each additional year the average person lives in the UK, we need an additional 356,500 homes). Finally, we have got immigration. In the year ending March 2019, 612,000 people moved to the UK (immigration) and 385,000 people left the UK (emigration) – meaning a net increase of 227,000 people (or a requirement of c.100,000 homes to house them in one year alone). All those factors in themselves mean …

we have more demand for Royal Tunbridge Wells property than we have supply and that's not going to change any time soon.

Property markets are driven (like all markets) by supply and demand so I believe Royal Tunbridge Wells property values can only rise in the long term. The question is whether Royal Tunbridge Wells people will have the sentiment and confidence to borrow money on a mortgage and invest in Royal Tunbridge Wells property, yet at the moment with ultra-low interest rates, borrowing money to buy a home has never been so cheap and if you are in it for the long-term (which you should be with property) then I think it's good news.

One piece of good news is that mortgage lenders are willing to lend up to 90 per cent loan to value mortgages for first time buyers (and in some rare cases 95 per cent), albeit with a lot of strings attached … yet this is a good sign as the banks and building societies wouldn’t be lending at these levels if they were too scared.

Investing in property, be it for yourself to live in or buy to let is a long-term game. We might see an uplift in prices in the short term because of the demand mentioned above, then again, we might see a dip in 2021 ... yet again for the reasons mentioned above - until we start to build new homes to the scale of 300,000+ a year (something that has never been achieved since 1969), the long-term picture appears to be good. Be you a Royal Tunbridge Wells landlord, Royal Tunbridge Wells house seller or Royal Tunbridge Wells buyer, you have to be a lot more strategic and thoughtful about what you are going to do. If you would like to pick my brains, drop me a message on social media or pick up the phone.

So those are my thoughts, tell me your thoughts for the future of the Royal Tunbridge Wells property market? 







Monday 10 August 2020

TUNBRIDGE WELLS LANDLORDS - SEVEN SIMPLE STEPS TO RENTAL SUCCESS


In this two-minute read, we look at seven fundamental steps landlords in TUNBRIDGE WELLS need to take to put themselves and their rental properties on the path to success.

Being a landlord can be challenging, complicated and confusing. But it doesn’t have to be that way.
By following these quick tips below, you’ll make your life easier and your properties more profitable.

1)          Get Three (Free) Valuations. So, you have a property to rent? We suggest calling in three different letting agencies to compare prices, people, and approach. Be careful not to be sucked in by cheap fees as it’s often reflected in the service you get.

2)          Picking a Letting Agent. Look for professionalism, integrity, value for money and a proven track record of serving local landlords in TUNBRIDGE WELLS.

3)          Marketing Magic. How, where, and when your property is marketed adds significantly to its chances of success. At Martin & Co Tunbridge Wells, we use several different platforms, tactics, and techniques to attract the largest possible audience for your property.

4)          The 3 Ps. If you want to attract quality tenants at the best price, your property must be clean, well maintained and nicely presented. Remember the 3Ps as they are worth repeating – presentation, presentation, presentation.

5)          Dealing with offers. Once quality tenants have been found, and the rental price agreed, we will carry out all the necessary work. This includes gathering references, creating tenancy agreements, collecting the initial deposit and rent, and arranging for a thorough check-in and inventory to take place.

6)          Moving in and on. Once all the above has been carried out and is in order, you/we can release the keys to your new tenant. By establishing excellent communication during the moving in process we lay the foundations for good future relations.

7)          Hassle-Free Property Management. We offer different tiers of service, from let only where we will find you a quality tenant and carry out all the preparatory work, right through to full property management.

When you decide to have your property fully managed, it means we take responsibility for most things that need doing and sorting out.

This includes collecting rents, arranging safety checks, property inspections and making sure maintenance and repairs are carried out by skilled local professionals. AND we’ll keep you the right side of the mountain of rental regulations and laws affecting rented property in TUNBRIDGE WELLS.

Thanks for reading, and if you are a landlord looking to have their life made easier and rental property more profitable, please get in touch with us today 01892 543856
Dave Rogers MARLA MNAEA

Saturday 8 August 2020

WHY LAUGHING DOES WONDERS FOR YOUR IMMUNE SYSTEM


Here I  look at why laughter is so crucial during tough times.

There's a lot of uncertainty in the world now.
But one thing you can be sure of, is that someone, somewhere, is making the most of life and having a bit of a giggle.

And that's a wise move, as laughing during times like these is not just good for the mind, it's great for the body.

Medical research has shown that having a good chuckle has several immunity-boosting benefits.
Researchers found that it stimulates organs, because you take in more oxygen when you are belly laughing. It also fires up then cools down your body's stress responses, leaving you feeling more chilled out.

It also soothes tension by increasing circulation and helping muscles relax. Remember how good you felt after something had REALLY made you laugh.

Long-Term Benefits
The pandemic has highlighted the importa


nce of a healthy immune system. Along with exercise, a proper diet and plenty of sleep, laughter is up there when it comes to making us more resistant to bugs, viruses and ailments.

According to scientists in America, the long-term effects of laughter include improving your immune system. This is because negative thoughts create chemical reactions in the body, wearing us down. But laughter and positive thoughts can release something called neuropeptides, which combat stress and potentially more serious illnesses.

No Sense of Humour? No Problem
Let's face it. Some people were absent from the queue when a sense of humour was being handed out. Maybe you know someone like that? The good news is humour can be learned, meaning the joys of laughter needn't be exclusive to people with a lighter, brighter disposition.

Here are two ways people can lighten up and have a laugh.
Consider laughter yoga (we're not joking). It's where people practise laughing in a group. It's faked laughter at first but can soon develop into genuine howls of hilarity.
Show me the funny – make time to share a giggle with friends and family who are always game for a laugh. Their mirth will rub off on you according to the medical boffins.

As estate agents, we need a sense of humour, and this article wouldn't be complete without a joke.
So, here's one from Olaf Falafel, who won the best joke award at last year's Edinburgh comedy festival with this gag.

"I keep randomly shouting out 'Broccoli' and 'Cauliflower' – I think I might have Florets."

Thanks for reading and if you have any serious (or silly) property questions, feel free to ask us. We're here to help people move successfully across TUNBRIDGE WELLS.

David Rogers MARLA MNAEA
Martin & Co

Friday 7 August 2020

TUNBRIDGE WELLS HOMEOWNERS – PUT EXTRA POUNDS IN YOUR POCKET BY IMPROVING YOUR GARDEN




We look at ways to smarten up your garden to boost its appeal when thinking of selling your home.

One of the most significant property trends to emerge from lockdown is the growing importance of outdoor space to buyers.

Industry insiders report that post-lockdown, an increasing number of people are looking for homes with a garden – or at least access to communal spaces.

This anecdotal evidence is backed up by Rightmove, which says searches for homes with gardens increased by 42% in May. 

With buyers’ priorities shifting, we advise sellers in TUNBRIDGE WELLS to invest a little time and effort to get gardens, roof terraces and balconies looking their best.

You don’t need to be Monty Don or Carol Klein, but you do need to get the basics right. A little bit of TLC will push up the asking price and speed up the sale.

Here are some tips:

- If your garden looks more like a junkyard than a backyard, you are missing a trick. Cut the grass, blitz the weeds and trim back overgrown bushes and hedges (this will make the space look bigger and brighter). 

- Repair any broken or damaged fences. This is a must, especially if you are marketing a family home. Parents will want to know that their little ones can’t wander off. Pet owners will want to ensure that their beloved pooch stays put.

- If you have swings or a trampoline in good condition, it’s okay to leave them in situ (provided they don’t crowd the space). But anything that is faded or broken must go. Footballs, sandpits and scooters need to be stored away too.

- A lick of paint goes a long way. Add a splash of colour to sheds, decking and fences.

- Ditch the clutter. Don’t take it personally but people won’t be impressed by your collection of power tools or your assortment of garden gnomes. And don’t even get us started on caravans. These need to go into storage when selling.

- Once you’ve cleared the space, consider adding a few blooms or hanging baskets. When it comes to identifying where to place them, put yourself in the shoes of a viewer. Buyers will get their first glimpse of the garden when they are inside, looking out through a window. Identify these key focal points and place your plants there for maximum impact.

- Dress to impress. If you have a separate office or studio space, make sure it is presented as such. Often people cram offices with bikes, tools and boxes. You want potential buyers (who may work from home) to be able to walk around inside and envision themselves working in there. If your office has electricity and broadband, shout about it.

- Don’t forget the front garden. Even if the front of your property only has a small amount of space, invest in a few pot plants to make it look welcoming. First impressions are hugely important.

- And a final word on bins and laundry. It’s a pet peeve of ours when marketing photos feature bins (everyone has them, we don’t need to see them) and laundry drying on the line. A good agent knows the deal is in the detail and would ensure they are NOT featured in any photos.

If you’d like more advice on how best to present your home, contact us here at Martin & Co We’d love to help you make your next move.

Monday 3 August 2020

EVICTIONS UPDATE FOR LANDLORDS IN TUNBRIDGE WELLS


Today we look at the latest news on the evictions front and the moves needed to avoid legal action.

It takes flexibility, compassion, and stamina to navigate the eviction process at the best of times. But, due to Covid-19, it takes more careful and considered steps than ever to repossess a property.

Last week, Housing Minister Christopher Pincher gave more detail about how the process will work once the current ban on evictions, introduced back in March, is lifted on August 23.

Pre-action rules explained
These new guidelines are called ‘pre-action rules’ and will remain in place until the end of March 2021.

If a landlord wishes to evict a tenant, they will have to:

- Inform the court and tenant in writing that they wish the case to proceed. Without this ‘reactivation notice’, the courts will consider the case dormant.

- Provide the courts with any information they have on how Covid-19 has impacted their tenant. 

- Provide a full arrears history.

Fail to follow these rules, and judges can adjourn proceedings, something that will only drag the process out even further.

What Action Landlords Can Take (FOR ENGLAND AND WALES)
These changes will only exacerbate the existing backlog of cases. The housing charity Shelter estimates there could be as many as 200,000 in the pipeline.

Landlords in TUNBRIDGE WELLS can avoid getting caught up in this legal nightmare, by treating eviction as the absolute last resort. Here are some tips to navigate your way through tricky situations and to hopefully avoid court action.

-          As they say, it takes two to tango. Don’t sit back and wait to hear from your tenant. You, or your letting agent, need to stay in regular contact with your tenant. That way, if they hit hard times, you can respond quickly.
-          If a tenant is struggling to pay their rent, don’t press the panic button. There are several strategies you can pursue, from rent reductions to flexible payment plans. Before you negotiate one of these options, please seek advice from us.
-          It’s easy to feel emotional or stressed when difficulties arise, but you need to remain cool-headed and pragmatic. What you do at the early stages of a dispute can be critical to recouping rental funds and determine the nature of the relationship in the future.
-          And of course, keep a record of all conversations and text and email exchanges.

These steps are the basics of managing tenancies during the Covid-19 crisis.

If you don’t feel qualified or comfortable doing all this yourself, we’re lettings experts and we can do it for you. We can take the lead, lighten the load, and make your life a lot easier.

For more advice about managing your property during Covid-19, contact us here at Martin & Co Tunbridge Wells 01892 543856.  

We’re here to help guide you through these difficult times.

Dave R