Whathouse? West Midlands February 2016 by WhatHouse? Local

l r, or ca e o lo ap r d ur y p ou Yo ert to y op d pr ere liv de

West Midlands Edition

February 2016

INTERIORS P15 NEW HOMES P20 INVESTMENT P25

Sweet 16?

– the property industry’s predictions for the year ahead P3

MORTGAGES P28 GARDENING P30

Take a break –

our favourite holiday homes for sale P6-7

Quality homes in desirable locations across the Midlands For more information about our extensive range of quality homes, from first time buyer apartments to luxury executive houses visit

www.lioncourthomes.co.uk or call 01905 755167

London, Kent, Sussex, Surrey, Hampshire, Isle of Wight – Find your new home at Whathouse.com

Meridian Waterside, Southampton

Inland Homes. Bringing land to life.

Inland Homes are currently regenerating areas across the South providing quality homes with an emphasis on design and sustainability. Visit our fabulous range of Showhomes to discover more.

The Comptons,Wooburn Green

St Johns, Chelmsford

DEVELOPMENTS INCLUDE: Carter’s Quay, Poole 1 & 2 bedroom apartments and 2, 3 & 4 bedroom houses

COMING SOON:

St John’s, Chelmsford 2 & 4 bedroom houses

Meridian Waterside, Southampton 1, 2 & 3 bedroom apartments and 3 bedroom houses

The Comptons, Wooburn Green 1 & 2 bedroom apartments and 3 bedroom houses Park House, Loudwater Studio & 1 bedroom apartments

Alexandra Gardens, Iver

Alexandra Gardens, Iver 2, 3 & 4 bedroom houses

Boreham, Essex 1 & 2 bedroom apartments and 2, 3 & 4 bedroom houses Basingstoke, Hampshire Collection of apartments

Carter’s Quay, Poole

For further details call 01494 762 450 or email sales@inlandhomes.co.uk

Showhome open at this development

Please check website for current availability. Computer generated illustrations are indicative only and subject to change.

www.inlandhomes.co.uk

Find your new home at whathouse.com/new-homes

predictions 3

Property market A predictions

Welcome!

We look at what some of the property industry’s experts believe is in store for the housing market in 2016, with topics such as new homes supply, interest rates and stamp duty changes affect first-time buyers, families, downsizers and investors. certainly a boost for the housing sector and a positive step towards increasing housing supply. The need for more homes is very real and the sector needs to adapt to ensure it plays its greatest role in addressing the housing shortage. This will lead to housing associations becoming even more innovative in the way they approach development of new homes.”

Weston Homes founder and chairman Bob Weston: “I see the market under a million pounds being stable. We’ve had our post-recession bubble so I think house prices will move marginally above inflation. The top end – two million pounds plus – will be different. It’s not just higher stamp duty; low oil prices and a strong pound will continue to have an effect. The new stamp duty rates for second homes, coming through in April, will only add to this. In terms of its impact on buy-to-let, it’s bound to make some think twice.” James Wyatt, partner of prime Surrey estate agency, Barton Wyatt: “The top end of the market (over £5m) is in the slaughterhouse. Another government stab in the back for those investing for their retirement. Watch very strong sales up to £300,000 in Q1 then listen to the tumbleweed. We are likely to see our [Bank of England] base rate shift up in Q3 or Q4. Despite its inevitability, the increase will spook just about everyone with mortgages.” Maud Rousseau, group marketing and communications director of SearchFlow: “Our conveyancing sentiment tracker reveals that 27% of conveyancers believe transaction levels will increase by up to 20% this year. The government has outlined its

commitment to encourage first-time buyers to the market. The entry of this important group will be vital to ensure the fluidity of the market. The conveyancing industry is very likely to see a rush to complete [buy-tolet] property purchases prior to April, followed by a sharp drop in transaction levels. However, this is likely to settle later in the year.” Property expert Kate Faulkner: “The main game changer moving forward is that both Chancellor George Osborne and governor of the Bank of England Mark Carney are keen to stop the huge hikes we’ve seen in property prices in the past and their efforts appear to be gaining momentum. My main fear for 2016 is that it may end up in a real ‘freezing’ of the property market from a stock perspective, with little to sell and little to rent, leading to fewer people being able or wanting to risk moving if there isn’t much choice.” Dave Bexon, group sales and marketing director of Redrow Homes: “We’re confident of making significant progress and launching further new developments. Our offering to customers will widen in line with plans to open more developments featuring our Regent and Abode product, alongside our traditional Heritage Collection. We look forward to receiving more

details on government plans to assist housebuilders to improve supply and we’ll continue to tackle the skills shortage so we’re geared up to build the number of homes needed.” Glen Wilson, head of property, SME banking, at Lloyds Bank Commercial Banking: “To further support the drive to tackle the housing shortage, we have launched a £100m Housing Growth Fund for small and medium-sized housebuilders to back nationwide housing construction projects, with our £50m of equity backed by the government with an additional £50m investment.” Jason Rishover, chief executive Heronslea Group: “A lot of our customers are downsizers, taking advantage of the price rises over recent years and swapping their family home for modern lateral apartment living, which has become the new bungalow for retirees. The market is still strong due to high demand outweighing supply; however, an increase in interest rates or a sudden surge of property on to the market will impact sales and values.” Clare Crawford, commercial director at Aster Homes: “The chancellor’s announcement in his Autumn Statement of a doubling of the national housing budget is

Andrew Ellinas, director of Sandfords: “We have seen many potential vendors choosing to stay put and spend the money that would have been expended as stamp duty on a purchase in refurbishing or extending their present home. This is currently particularly evident with family properties. I predict that price increases in the prime central London market in 2016 will be modest with some areas experiencing growth and others seeing prices remaining fairly static.” Financial services director at Waterfords, Sean Wickes: “It would appear that the flavour for an increase in interest rates is beginning to wane again as inflation remains low, suggesting the market does not look poised for a rise just yet. There has never been a cheaper time to borrow and the public are taking full advantage of the great low cost mortgage deals available, which we anticipate will continue through much of 2016.” Paul Smith, CEO at haart: “The top end of the property m a r k e t , particularly in London, will see a price correction in 2016 because of the impact of stamp duty, consisting of a 10% drop in value for homes over £1m. However, this will have no bearing on the core property market, which will experience further average price increases in 2016 of up to 10% across the UK.”

elated Happy New Year b to all, in our first issue of 2016. The festive lull in the housing industry is well and truly over. Indeed, we hit the ground running from our first day back in the office, with the Prime Minister’s announcement of the first five sites the government is targeting to get its Starter Home Initiative under way. A government press release out of the blue is nothing new but it certainly stirred the WhatHouse? editorial team out of any remaining slumber. The 13,000 homes proposed for these sites – spread from Hampshire to East Anglia – is only a small proportion of what is needed across the whole country of course. This was followed a couple of weeks later with a Ministry of Defence announcement of the disposal of 13 redundant sites in England and Wales that will be sold off to housebuilders. This would provide space for around 55,000 new homes from Portsmouth to Edinburgh and generate a rather handy £1bn for the budget-stricken MoD. More recently, Redrow has announced the initial phase of homes for Britain’s first Garden City in Ebbsfleet, Kent, where some 15,000 new properties will be built over the coming years. Great news for this area, but it will only deliver a fraction of the million new homes that the government has committed itself to in this parliament. While we still seem uncertain about exactly how all the homes we need might get built – with developers, councils and others still arguing about whether landbanking, planning constraints or materials/labour shortages are at the root of the problem – recent forecasts suggest the Bank of England might wait even longer to raise interest rates from their record low. While these big issues unfold around us, we’re very busy here making our website (www. whathouse.com) and newspaper even better this year. We completely redesigned the website last year and have continued with some major changes, including a revamped new homes search function and an expanded ‘KnowHow’ page, which combines our tips and advice with daily news and features. Visit the website to sign up to our daily newsletter for the very latest about new homes across Britain. We’re back monthly from our March issue – until then, happy house-hunting!

Keith Keith Osborne, editor. ko@whathouse.com @keithosborne69

Share in Our Success!

We’ve just been named the second fastest growing company in the Midlands by the Sunday Times. Visit one of our developments and find out why: Artisan’s Walk Orton Gardens Off Delph Road, Brierley Hill, DY5 2RP

Off New Road, Water Orton, Birmingham, B46 1QP

Manor Park

Heritage View

Park Hill Drive, Handsworth Wood, B20 1DJ

Sommerfeld Road, Trench, Telford, TF1 5RY

Park Edge

Saxon Meadows

Off Noose Lane, Willenhall, WV13 3BU

Off Main Road, Kempsey, Worcestershire, WR5 3LH

Tannery Court

COMING SOON:

Tasker Street, Walsall, WS1 3QW

Linley Grange, Coalport Road, Broseley, TF12 5AW

For further details visit www.lioncourthomes.com or call 0845 873 2880†

Help to Buy

†Calls will be charged at seven pence per minute from a BT landline and may cost considerably more from mobile and other phones. Contact your service provider for more details.

Rupert Bates, editorial director of WhatHouse? has been a property journalist for 25 years. He is an award-winning writer who started on local newspapers before becoming a columnist on The Daily Telegraph. He presents the annual WhatHouse? Awards, edits leading housebuilding magazine Show House and is property correspondent of The Field magazine.

A chance to win £50 It couldn’t be simpler – just ‘follow’ us on Twitter (@What_House) One of our new followers from 1 to 29 February 2016 will win £50 in Marks and Spencer vouchers

Keith Osborne started writing about property 14 years ago and has been editor of Whathouse. com since 2010. He is currently a columnist in housebuilding trade magazine Show House and has previously written for Homes Overseas magazine. He has also been a part of the WhatHouse? Awards judging panel for a number of years.

Managing director Daniel Hill Editorial director Rupert Bates Editor Keith Osborne ko@whathouse.com Assistant editor Stephen Maunder sm@whathouse.com Chief sub-editor Suzanne Frost Designer Sarah Davies Contributors Nick Parkhouse Richenda Oldham Fiona Brandhorst Helen Christie Sales director Adrian Talbot at@globespanmedia.com Sales manager Murad Paloba mp@whathouse.com Sales Ian Richardson ir@whathouse.com Sales Bob Faulkner bf@whathouse.com Sales Charles Spiteri cs@whathouse.com Advertsing sales David Wright dw@whathouse.com No.1 Hagley Road in Fiveways, Birmingham, from Seven Capital; 0121 296 1548

Published by: Globespan Media Limited, 291-299 Borough High Street, London SE1 1JG T: 020 7940 1070 E: info@globespanmedia.com W: www.whathouse.com Printed by 39zero / Distributed by Royal Mail © 2015 Globespan Media Limited WhatHouse?, ISSN: 02691310

What House?

@What_House

No part of this publication may be reproduced without prior written permission from the publishers. The greatest care has been taken to ensure accuracy but the publishers cannot accept responsibility for errors and omissions.

NHBC – the mark of a quality home Before you buy a new home, make sure it has Buildmark, which provides you with 10 years’ warranty and insurance. Then you’ll know it’s good quality and that your investment is protected.

0844 633 1000 www.nhbcnewhomes.co.uk

NHBC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. NHBC is registered in England and Wales under company number 00320784. NHBC’s registered address is NHBC House, Davy Avenue, Knowlhill, Milton Keynes, Bucks, MK5 8FP. J441 09/15

6 six appeal

Find your new home at whathouse.com/new-homes

One Lusty Glaze, Newquay, Cornwall From £180,000 to £720,000 This development, located just minutes from Lusty Glaze Beach, offers 36 contemporary one-, two- and three-bedroom apartments, a four-bedroom penthouse with views across Newquay Bay and three three-bedroom houses. There is easy access to Newquay’s 11 beaches, the South West Coast Path and the town centre, with all its amenities within walking distance of these new homes. Designed to take advantage of Cornwall’s temperate climes and the setting sun, each apartment has a terrace or balcony extending from the open-plan living area. The floorto-ceiling windows bask the apartments in natural light, creating bright and spacious interiors. Apartments are fitted with the latest kitchens and bathrooms creating a

contemporary coastal lifestyle. Each apartment has an allocated parking space along with an individual surf store, ideal if you wish to enjoy North Cornwall’s Atlantic swell or the many outdoor pursuits the county is famous for. One Lusty Glaze is due for completion in the summer of 2016, with 50% of units already sold.

From: Acorn Blue Contact: 01637 876000

Six appeal Our pick of UK holiday homes currently on the market The Meadows, Lazonby, Cumbria From £273,950

Set in countryside between the Lake District National Park and the North Pennines Area of Outstanding Natural Beauty, the village of Lazonby is perfectly placed for anyone who loves the landscapes of the north of England, and The Meadows would make the perfect base. Set in the heart of the village, The Meadows is a collection of two-, three- and four-bedroom properties. Inspired by the established homes of the area, red ‘Lazonby’ sandstone provides the façades of these homes, complemented by brick and render to offer a unique look to every home. The ‘Arundel’ show home demonstrates

the way these traditionally inspired exteriors are matched by an equally appealing interior, with a layout and specification that today’s homebuyers expect. Despite its idyllic setting, the village is by no means isolated, with the M6 motorway only 10 minutes away, the pretty market town of Penrith eight miles away and Carlisle 17 miles distant. There’s also a station, situated on the much-admired Settle-Carlisle route, one of the UK’s most scenic railway lines

From: Story Homes Contact: 07811 985889

The Kilns, Edinburgh • From £136,500

In the suburb of Burdiehouse, Barratt Homes is building two-, three- and four-bedroom homes starting at £126,000 at The Kilns. Just inside the City of Edinburgh Bypass, the location offers easy access to the scenic Pentland Hills, situated on the doorstep of this development. The properties themselves are landscaped around the historic lime kilns that give the scheme its name. Edinburgh has wealth of other places of interest to visit at every time of the year, from the tranquil bliss of its countryside

and numerous galleries to great shopping, superb cuisine and nightlife, and the colour and bustle of its annual Fringe Festival. One walk through its streets shows the diversity of people who enjoy their holidays in the Scottish capital. Over 50 homes already accommodate their residents and the current phase of homes is due for completion in spring/summer 2016.

From: Barratt Homes Contact: 0844 811 6633

For the latest on the property market

six appeal 7

@What_House

Freshford Mill, Freshford, Somerset • From £522,000 At the south of the Cotswolds Area of Outstanding Natural Beauty, the development provides a rare opportunity to buy a new home in such a sought-after location. There will be 21 properties, some created from the renovation of longneglected historic buildings, others sympathetically created alongside. The homes vary from a twobedroom apartment to a fivebedroom house. All properties will have access to their own private outdoor space, in the form of balconies over the river or lake, or beautifully landscaped gardens, designed by award-winning landscape designer Julie Johnson.

The development seeks to bring the old buildings back to former glories and improve the site as a whole, with natural materials such as stone and rough-sawn timber being used externally and internally to coordinate the scheme and help it fit into its surroundings. Some of the new homes will come complete with underfloor heating and statement fireplaces, and a high-tech feature which will allow large wall-mounted televisions to be converted into mirrors when not in use.

From: Environ Communities Contact:01225 864429

‘Cago Cottage’, Sway, Lymington, Hampshire • Guide price £925,000 ‘Honeysuckle Cottage’, Newquay, Cornwall Guide price £600,000 This immaculately finished threebedroom detached coastal home enjoys views over the golden sands of Porth Beach. This property is being offered for sale for the first time since its construction in the 1993 and its remains presented and finished to the highest standards throughout, providing a comfortable family home as well as being perfectly suited for those seeking a holiday home.

The property has a spacious hallway which leads either into the open-plan kitchen/dining area or the more formal sitting room opposite. The kitchen is fitted with bespoke oak base and wall-mounted units, complemented by granite work surfaces and high end appliances. The sitting room has been decorated in neutral colours and provides a light, airy and spacious room with feature multi-fuel stove. The three

bedrooms are spacious and the bathroom has both freestanding bath and double shower cubicle. The property has a single garage, ample outdoor parking, an attractive front garden and mainly decked back garden, with space for water sports equipment.

From: Country & Waterside Prestige Contact: 01730 817979

A fun and delightful character holiday home retreat, comprising a range of exterior entertainment areas together with a refurbished thatched period home, set in grounds of just under 1.6 acres, within close proximity to the coastline and forest villages of nearby Sway and Brockenhurst. Reputed to have been derived from a woodman’s cottage, the property has been enlarged and remodelled over the years, retaining much of its traditional charm with open fires and beamwork. The garden houses a diverse array of outbuildings in the form of a games room (being sold with a

full-size snooker table and cinema screen), stables with extensive areas of covered storage to the rear and a heated Wendy house which can sleep four youngsters. There is also a treehouse, barbeque area, tennis court, boule pitch, small football pitch and fenced paddock with karting track. The main property has four bedrooms and two bathrooms, a sitting room and generous farmhouse-style kitchen/ breakfast room.

From: John D Wood Contact: 01590 677233

We’re open for business, whatever the climate.

For the last 40 years, through all market conditions, we’ve consistently lent to residential property developers. So if you’re looking for funds, you won’t find a more experienced, flexible and reliable business partner. To find out how we can help your development, please call Close Brothers Property Finance on 020 7655 3655 or visit closepropertyfinance.com

Close Brothers Modern Merchant Banking

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23/04/2015 11:38

10 property of the month

Find your new home at whathouse.com/new-homes

Follow the Meridian line

For the latest on the property market

@What_House

property of the month 11

A brand new home on the exclusive Dormans Park estate exemplifies the work of Tkei Homes

rmans Park is a o private residential park with its origins in the 19th century. The Park nestles on the West Sussex and Surrey borders. This tranquil environment is surprisingly close to London with excellent transport links, Dormans Park having its own train station. Given its proximity to London, you still benefit from easy access to the countryside and the south coast. Lingfield is a few miles away with its well-renowned racecourse and local facilities. Meridian House is the latest home from Tkei Homes, covering just over 3,000 sq ft including five double bedrooms, three en suites, one family bathroom, a large open-plan kitchen and family room and three further reception rooms. The garden is beautifully landscaped and overall the property has mature screening to offer plenty of privacy. As you approach the property via the electronic wooden gates, there is plenty of parking outside the double garage. The block paving sweeps round to the steps with built-in lighting, taking you to an attractive tile-covered porch. As you enter through the front door, you are greeted with a generous hallway with beautiful Porcelanosa tiling that stretches through to the kitchen and family room. The large picture window over the staircase adds to the feel of this impressive entrance. The hallway panelling is a lovely addition together with the underfloor heating. The kitchen is a contemporary take on a shaker-style kitchen with hand-painted doors in charcoal grey. The two ovens, a microwave, coffee machine, dishwasher, five-ring gas

hob, in-built counter-top lighting and other details make this a great place to cook, and the breakfast bar keeps the whole environment social. The breakfast area leads through to a bright family room, helped by the dual-aspect views of the garden and the glass lantern above. The living room is generous in size enhanced by the attractive stone fireplace and wood-burner with French doors leading to the garden. There are two further reception rooms with large attractive bay windows, both of which can offer multiple uses. A dressing area adjoins the master bedroom, complete with ample builtin wardrobes and drawers, while a beautiful en suite features Porcelanosa tiling, integrated storage and underfloor heating. The remaining double bedrooms are all generous rooms, two of which have their own ensuites. Tkei Homes has successfully built many homes across Surrey, Sussex and Kent, from single-home to multipleunit developments, ranging in price from £500,000 to £2m. All properties usually include designer kitchen, underfloor heating, Villerory and Boch bathrooms and in-built music systems. Forthcoming developments will include four detached family houses in Cuckfield, West Sussex and three detached five-bedroom properties in Beckenham, London. Details will be launched later in the year and will be available in 2017. Meridian House in Dormans Park is available now for £1.25m. Find out more at info@tkei.co.uk; 01932 837690

FEATURES OF MERIDIAN HOUSE: • Large entrance hall and WC • Living room • Kitchen/dining family room • Utility room • Two further reception rooms • Master bedroom with en suite and dressing area • Two bedrooms with en suites • Two further double bedroom • Family bathroom • Double garage • Parking • Electric gates

M ak in g your Christm as pe rfect th is ye ar Move in for Christmas at Kineton Meadows and enjoy an extra special treat. Celebrate Christmas in style this year by making the move to a new Bloor Home in Kineton. Move in by 18th December on selected 4 bedroom homes and choose from an Interior Design Consultation* plus £1,000 to spend on upgrades OR a VIP Removals Package*.

The Thornsett – Available from £495,000 or just £396,000 with Help to Buy† The Osterley Sp – Available from £515,000 or just £412,000 with Help to Buy† The Osterley – Available from £525,000 or just £420,000 with Help to Buy† Kineton Meadows, Southam Road, Kineton, Warwickshire CV35 0LG

Book a viewing today. Call 01926 671348 or visit bloorhomes.com. We’re open daily from 10am to 5pm.

*Interior Design Consultation provided by Bloor Homes chosen interior designer. Interior Design Consultation + £1,000 towards upgrades and VIP removals package offers given for completion by 18th December only. †Help to Buy price represents 80% of purchase price. Help to Buy and all Bloor Homes’ incentives and schemes are subject to terms and conditions and are available on selected developments and selected plots only. Help to Buy is only available on developments in England, up to the value of £600,000 subject to contract, status and eligibility. Help to Buy is not available with Home Exchange. Prices and details correct at time of going to press. Images shown for illustrative purposes only.

BUY OFF PLAN, ENJOY FIRST CHOICE COME TO CALA NOW Computer generated image - The Gloucester

4 BEDROOM DETACHED HOMES FROM £460,000 Available with up to 100% part exchange* to help make your dream move happen

Call to register your interest or we would be delighted to welcome you to the development.

WYCHBURY FIELDS, HAGLEY, DY9 9LG

CALL 01562 569 771 CALA.CO.UK

WHAUG *CALA will obtain 2 independent valuations based on achieving a sale in a 4-6 week period, part exchange considered subject to CALA’s purchasing criteria, terms and conditions. Visit cala.co.uk/terms for full terms and conditions and purchasing criteria. Up to 100% part exchange and other incentives available on selected plots, subject to terms and conditions and not in conjunction with each other or any other offer.

Buying overseas? Don’t miss out on your FREE overseas property guide Buying a property overseas can be easy when you’ve got the right team on your side. To see what’s happening at your destination, or for tips and guidance on the overseas property-buying process, visit everythingoverseas.com.

Wherever you’re going, we’ve got you covered Australia Florida France New Zealand Portugal South Africa Spain Voted Best Holiday Accommodation Provider for Customer Download your free Service guide at everythingoverseas.com at the 2015 British Travel Awards.

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23/02/2015 12:01

A chance to win £50 It couldn’t be simpler – just ‘follow’ us on Twitter (@What_House) 5|

2| 4 One of our new followers Northam North Devon from 3rd- August to 1st September will win £50 in Marks and Spencer vouchers £649,950

Managing director Daniel Hill Editorial director Rupert Bates Editor Keith Osborne ko@whathouse.com Assistant editor Stephen Maunder sm@whathouse.com Chief sub-editor Suzanne Frost Designer Sarah Davies Contributors Marc Da Silva Nick Parkhouse Richenda Oldham Tilly Rubens Sales director Adrian Talbot at@globespanmedia.com Head of sales Andy Lunn al@whathouse.com Business development manager Steve Coyle sc@whathouse.com Sales manager Murad Paloba mp@whathouse.com Head of digital Simon Phillips simon@whathouse.com

• • • •

Stephen Maunder is assistant editor of Whathouse.com, Cover photo: One Shore Road, Sandbanks, having previously spent 18 Dorset, from £1.3million, courtesy of Savills; there as aHome freelance • Renovated Stunningmonths Detached Throughout 01202 708888 special correspondent. He has a Large South Facing Garden • Garage and Parking background in academic research and has worked at Sky News as a picture State ofHe the • Highly Sought After Location researcher. hasArt also Media written forRoom BBC News, Huffi ngton Post UK and the Shropshire Recently Double Glazed • Early Published Viewing Advised by: Globespan Media Limited, Star newspaper.

For full details, or to view more of our

291-299 Borough High Street, London SE1 1JG T: 020 7940 1070 E: info@globespanmedia.com portfolio, visit our website W: www.whathouse.com Printed by 39zero / Distributed by Royal Mail © 2015 Globespan Media Limited

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| beGrenville 01237 998may Wharf, 6a The No part of459 this publication reproduced without prior written permission fromQuay, the publishers.Bideford EX39 2HW The greatest care has been taken to ensure accuracy but the publishers cannot accept responsibility for errors and omissions.

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02/02/2016 14:22:30

interiors

Find your new home at whathouse.com/new-homes

Smart solutions for small spaces Richenda Oldham thinks out of the box and presents workable design solutions to maximise the shrinking footprint of the modern home

t ’s a sad but true fact that the average modern British home is shrinking and according to the Royal Institute of British Architects (RIBA) some of the smallest three bedroom homes are missing space that is the equivalent of a double bedroom. While it is hoped that minimum sizes for new homes will be reviewed, so that ‘rabbit hutch’ new builds will be “a thing of the past” (according to RIBA president Jane Duncan), in the meantime, if you are the owner of a space constrained new home, just how can you tackle the lack of internal amenity? Without a doubt, the key to finding successful solutions is to plan, plan, plan. Look at your existing pieces of furniture and be ruthless in choosing what will work and what won’t. It will pay dividends to invest in new multipurpose furniture that will suit your new, restricted spaces. Draw up a scale floor plan and start plotting in scale furniture measurements, to see what layouts fit the bill. Don’t restrict to your vision to the footprint of each room. Instead, look upwards and think about overall volume of space. Maximising storage space in a small home is critical and you need to make the most of every square centimetre both vertically and horizontally. Overhead storage, space beneath a bed, corner space, behind

or above doors, space beneath stairs, all can be exploited successfully, either by using bespoke solutions or off-the peg designs from specialist storage retailers. Keep the space flowing and try to avoid breaking up rooms into different areas. Some of the most successful interior designs for small spaces feature open plan living. Use of neutral background colours and flooring throughout your home, whether it’s an apartment or a family house, will help create a feeling of space, but don’t be afraid to use a bold colour in a small area, such as the kitchen, to create impact and inject personality. Mirrors, too, can really help to bounce light around and boost the feeling of space. When choosing furniture, go for multi-purpose designs such as corner sofas with storage within and a foldout bed to boot (www.furniturechoice. co.uk’s Maddox corner sofa). Or coffee tables that can convert to dining tables - keep folding chairs hung on pegs at the side of the room, ready to be used when you are entertaining. Pullout or fold down work surfaces or desks are excellent when you don’t have enough rooms for a designated study/home office. But above all, the right kind of positive attitude will transform a small space into an attractive vibrant home, which works for you and not against you. Remember, small can be beautiful.

1. At the heart of this 785 sq ft apartment, designed by Neha Sha of Boscolo, is a cleverly designed open plan kitchen/dining/ living space, which features accessories and fittings that perform dual roles, such as cork side tables that can be used for seating, and a drawer that pulls out as additional worktop space, www.boscolo.co.uk

of a London flat, is packed with spacing saving storage ideas, providing a workable solution that meets the challenges of the ceiling restrictions perfectly, www.roundhousedesign.com

2. Even if space is tight, you don’t need to sacrifice style for the sake of layout. There are plenty of reduced depth sanitaryware products, which come in modular designs that retain the drama of stand-alone products, YOU modular furniture in Black Linear, basin £395, toilet unit (including cistern) £649, soft close seat back to wall pan, £410, www.utopiagroup.com 3. This tiny kitchen, tucked beneath the eaves

4. This sleek, chic coffee table is actually a versatile multi-extending, design that grows to become a dining table that can seat 8-10 people and is height adjustable, Multi coffee table, 120cm (length) x 75cm (width) x 25cm (height) (unextended), 220cm long (fully extended), £1,695, www.furl.co.uk 5. A bed that doubles up as an ottoman, is just the answer for small bedroom spaces with no room for other furniture. The bed base can be easily raised thanks to a gas lift, Arran Oak ottoman storage bed, £474 for a double, www.time4sleep

16 interiors

Find a great mortage deal at whathouse.com/mortgages

Metallic curtains - whether in gold, silver or bronze – will add a glamorous sparkle to any room; faux silk curtains, £57, Colours at B&Q Modern Robeys Rina 4kw wood burning stove, available with either glass framed door, £1,897 or steel framed door, £1,749, www.hetas.co.uk

Traditional Bellingham 8kw steel bodied multi-fuel stove, £1,099, www.dimplex.co.uk

The heat is on Wood-burning and multi-fuel stoves have environmental as well as economic benefits. Richenda Oldham explores the reasons for investing in one

i cture this. A freezing cold night, with the rain lashing down outside, and there you are, all cosy and warm (indoors), snuggled up in front of a stove, sipping your cocoa. Sound good doesn’t it? This heartwarming image is no adman’s dream. Stoves – and let’s be clear here, these are the wood-burning or multi-fuel varieties we’re talking about, not gas or electric versions – offer a practical and economically efficient way to heat a room by using a renewable resource – wood. Locally sourced wood is not only one of the cheapest forms of energy, it is also a carbon neutral fuel, as the amount of carbon dioxide released into the atmosphere is the same as that absorbed by a tree while it is growing. Investing in a wood-burning or multi-fuel stove that can burn both wood, coal or smokeless fuel, will set

you back between £500 to £2,000, depending on the make and model you choose. You will need to decide what style you want - traditional (cast iron) or contemporary (steel) - and finish/colour. Where are you intending to put your stove? In a fireplace, an open hearth or will it be freestanding? You will also need to consider which room you are going to heat and whether you want the stove to supply domestic hot water or central heating as well. Next on the list is fuel choice. If you are intending to burn only wood, then a dedicated wood burning stove is best, which burns logs on a flat bed of ash, with air for combustion coming from above. A multi-fuel stove will give you more fuel options, as you can choose to burn either logs, smokeless fuels or peat/turf briquettes. But it is wise to check first whether you live in a smoke controlled area, which means you will need to get a stove approved

by the Department for Environment, Food and Rural Affairs (Defra) if you want to burn wood. If you choose not to buy a Defra-approved stove, then you can burn smokeless fuels, such as anthracite, but not wood. You will also need to check that you are able to comply with building regulations, as there are specifications about how a flue is fitted, as well as the size of the hearth and the distance of the stove from combustibles. All of which could affect your choice of stove, so it’s a good idea to speak to a HETAS registered installer first and to have them carry out a site survey first. They will recommend any changes that will need to be made to ensure compliance with building regulations For further information about stoves and approved installers, contact HETAS, the official body for solid fuel, wood and biomass heating systems, fuels and services, or visit www.hetas.co.uk; 01684 278170

Sleek, contemporary Lawley woodburning stove, £1,675 from AGA, www.agaliving.com

Huntingdon 30 wood burning stove in ivory enamel finish, £1,975, www.stovax.com

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interiors 17

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Some like it frothy

With her choice of the hottest coffee machines, Richenda Oldham proves that the ultimate coffee experience can take place at home and not in a cafe 1 The KitchenAid Artisan Espresso Maker features two independent boilers that will brew, froth and warm cups in order to provide you with the perfect coffee. You can use ground coffee or pods to make the ultimate espresso or creamy cappuccino, £615, qvcuk.com; 2 The Nescafe Dolce Gusto Drop Automatic hot drinks machine is a stunningly designed device that uses touch technology to deliver coffee shop style drinks via a pod system in as little as 20 seconds, around £149.99, available from www.amazon.co.uk www.argos.co.uk www.very.co.uk; 3 Fancy a hot or cold coffee? The Lavazza A Modo Mio Fantasia has a choice of 36 settings that will make you anything from the creamiest cappuccino to an ice cold shake. Available in white, red or black, it costs around £179.99, www.lavazzamodomio.co.uk; 4 You can remotely brew coffee from anywhere in your home with the Smarter coffee machine, as long as you are connected to WiFi. Just a few swipes from your Smartphone will give you the ability to control every detail from coffee bean settings to an alarm setting, £179.99, www.findmeagift.co.uk; 5 For coffee on demand, the Swan SK32020N Bean to Cup coffee machine will do everything from grind your coffee beans to brewing you up to ten cups of coffee in its glass carafe. Digital controls mean you can programme your coffee to be as mild or strong as you wish, around £99.99, www.amazon.co.uk

Sunny side up

Banish winter blues with an injection of sunshine into your home. Richenda Oldham shows how even a little yellow in your home can go a long way to adding happiness and warmth 2

1 Ochre gold is THE colour for 2016, so what better way to use it in your home than with a smart table lamp, Raj lamp in ochre, £46, www.zurleys.co.uk; 2 A combination of grey and yellow will bring depth and elegance to a room, Serenity grey fabric, £39 per metre, Charlbury double plain, yellow, £61 per metre, www.barkerandbarker.co.uk; 3 A simple yellow blind against a neutral backdrop is all you need to create a glowing ambience, Splash Sunflower roller blind with eyelets, from £50 for a 61cm x 61cm blind, www.thefabricbox. co.uk; 4 Make a striking but slimline standalone statement in yellow with this retro design Wesco Baseboy 20litre pedal bin, £139.96, www.binopolis.com; 5 A block of rich gold in a neutral room gives the impression of colour without being overpowering, Monte Carlo rug in yellow, from £27.99, www.landofrugs.com

The Hyde Housing Group Making a lasting difference, Working with Local Authorities The Hyde Group is an award winning provider of The Hyde Group is an award winning provider of homes and makes a significant contribution to homes and makes a significant contribution to meeting housing needs and improving peopleâ&#x20AC;&#x2122;s meeting housing needs and improving peopleâ&#x20AC;&#x2122;s quality of life. quality of life. Hyde is one of the largest housing associations working in England, Hyde is one of the largest housing associations working in England, owning or managing circa 50,000 homes with a focus on London, owning or managing circa 50,000 homes with a focus on London, Kent and the South Coast of England. Kent and the South Coast of England. Hyde built high quality new homes for 4,413 people in 2014/15. Of these, Hyde built high quality new homes for 4,413 people in 2014/15. Of these, 83% pay a subsidised price, with 3,643 people housed in a new Hyde 83% pay a subsidised price, with 3,643 people housed in a new Hyde affordable home. affordable home. Hyde is acutely aware of the housing crisis in the UK. A continuing Hyde is acutely aware of the housing crisis in the UK. A continuing decline in levels of house building, combined with increased demand, decline in levels of house building, combined with increased demand, particularly within London and the south east of England, has increased particularly within London and the south east of England, has increased housing costs significantly and impacted on local economies. housing costs significantly and impacted on local economies. Members of our team will be at MIPIM 2015 promoting New Members of our team will be at MIPIM 2015 promoting New Challenges; Challenges; New New Partnering Partnering Solutions our Local Authority Offer launched earlier this year. Solutions our Local Authority Offer launched earlier this year.

CGI CGI of of proposed proposed Hyde Hyde HA HA Development Development in in Harrow, Harrow, London London

Hyde Hyde is is committed committed to to tackling tackling the the housing housing shortage shortage and and reducing reducing some some of of these these impacts impacts by: by: • • Developing 1,000 mixed tenure homes a Developing 1,000 mixed tenure homes a year with a focus on increasing this further year with a focus on increasing this further • • Delivering quality management services Delivering quality management services across all tenures and uses across all tenures and uses • • Maximising life chances for residents Maximising life chances for residents through Hyde Plus’ support service through Hyde Plus’ support service • • Retaining a strong financial covenant and Retaining a strong financial covenant and commitment to invest for the future commitment to invest for the future

We believe that the answer to delivering more We believe that the answer to delivering more homes, particularly ones that are affordable homes, particularly ones that are affordable or are available for low cost ownership, is to or are available for low cost ownership, is to work collaboratively with local authorities. A work collaboratively with local authorities. A partnership approach allows local authorities partnership approach allows local authorities to match their assets with our experience of to match their assets with our experience of mixed tenure development and regeneration, mixed tenure development and regeneration, to create housing and communities in the to create housing and communities in the most cost-effective and sustainable way. most cost-effective and sustainable way. True True partnerships partnerships can can be be achieved achieved in in aa number number of of ways: ways: • • A joint venture model with sharing of risk A joint venture model with sharing of risk and reward and reward • • Sharing the build programme: Hyde Sharing the build programme: Hyde develops and sells the commercial develops and sells the commercial elements of a mixed tenure scheme and the elements of a mixed tenure scheme and the local authority develops and retains some or local authority develops and retains some or all of the affordable/social homes, to deliver all of the affordable/social homes, to deliver an ongoing revenue an ongoing revenue • • Hyde acts as the development and/or Hyde acts as the development and/or sales agent for the local authority sales agent for the local authority • • Traditional regeneration projects Traditional regeneration projects • • Stock transfer opportunities Stock transfer opportunities

We have the financial capacity, A1 Moody’s We have the financial capacity, A1 Moody’s credit rating and the highest validation credit rating and the highest validation from the Homes and Communities Agency. from the Homes and Communities Agency. Equally, our reputation for innovation and Equally, our reputation for innovation and creativity in designing new solutions for creativity in designing new solutions for delivering affordable homes means we are delivering affordable homes means we are an ideal partner for local authorities. an ideal partner for local authorities. We are committed to communities and We are committed to communities and places for the long term, supporting our places for the long term, supporting our developments with high quality, coordinated developments with high quality, coordinated management services. These core objectives management services. These core objectives as a registered provider distinguish us from as a registered provider distinguish us from other market housing developers. other market housing developers. We are open to ideas, so let’s do more to We are open to ideas, so let’s do more to work together, pooling resources, ideas and work together, pooling resources, ideas and ambitions, to create homes for people that ambitions, to create homes for people that need them the most. need them the most.

We look look forward forward to to working working with with you you We in the the future. future. To To arrange arrange aa meeting, meeting, in please contact: contact: please Simon Vevers Vevers Simon Development Director, Regeneration Development Director, Regeneration simon.vevers@hyde-housing.co.uk simon.vevers@hyde-housing.co.uk Tom Shaw Shaw Tom Development Director, South Coast Development Director, South Coast tom.shaw@hyde-housing.co.uk tom.shaw@hyde-housing.co.uk Mike Johnson Johnson Mike Development Director, London and Kent Development Director, London and Kent mike.johnson2@hyde-housing.co.uk mike.johnson2@hyde-housing.co.uk

20 new homes

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Property selling fast in second city as prices soar Local investors are flocking to Birmingham city centre to get their stake in the property boom

“ perfect storm” for the Birmingham property market has been created by the £4bn investment in infrastructure, which has seen the development of Grand Central Station, John Lewis, and Birmingham Library, together with the proposal of HS2, which would mean thousands of people could commute to London from Birmingham in 49 minutes. Work has also started on the new Metro system, which will enable residents to commute around the city centre in minutes and reach Birmingham International Airport in 20 minutes. City centre apartment prices in Birmingham are also being forced up, not only by the thousands of people wanting to work and live in the city, but by the 73,000 students who attend no fewer than five universities in the new Eastside area,

which includes Millennium Point. Ten thousand of these students are middle-class Chinese with budgets from home, enabling them to rent new apartments. Birmingham can be said to have become a “global city”, with the world’s media reporting its renaissance and large firms relocating their head offices from Canary Wharf to the city. HSBC and Deutsche Bank are just two examples of this trend. Some 14,000 new city-centre jobs were created during 2014/5 and the rising rental demand is sustainable until at least 2019, according to Knight Frank. One reason behind this sustainable upward curve in rental yields is the gross undersupply of new apartment developments during the financial crisis years and developers have been slow off the mark to feed this extraordinary demand. “The media are reporting mainly Chinese investors are snapping up

the few apartments available in Birmingham, but we have never really seen this,” says Andy Foote, director at investment house Seven Capital, which has been marketing a number of residential projects in the city. “Our clients are usually local people from the West Midlands or investors from the south avoiding high prices in London.” “They know the strength of the Birmingham market and are looking to create wealth for their pensions and passive income for the future. Many local people are also looking to help their children onto the property ladder and are investing for them. “We are experiencing 30% capital growth in our off-plan properties and we are pleased investors are taking advantage of this and the 7% rental income yields.” Find out more at www.sevencapitalinvest. com; 0121 296 1548

No maintenance means more family time for the Wilkeses Allan and Susan Wilkes put family first after moving to a new home that requires no DIY or repairs

Allan and Susan Wilkes at their new, low-maintenance home at Merrybrook Grange

s transport and technology developments make the world appear smaller, proximity of family is still a big factor for many home movers, and for grandparents in particular, time spent with the younger generations is very precious. For Allan and Susan Wilkes, both in their 60s, a move to a home closer to their daughter and grandchildren was a priority. “As our daughter and family live nearby, that influenced our decision to move to Evesham, but we also have a wider variety of shops close by, including community facilities and, in particular, doctors’ surgeries,” says Allan. As they looked around their options, even a DIYer like Allan could see the time benefits of moving to a brand new home that needs no everyday repairs and maintenance, which led them to swapping their old 1930s home in Worcester for a three-

bedroom property at Elan Homes’ Merrybrook Grange. “We decided to buy a new build as we knew it would be low maintenance, energy efficient and environmentally friendly,” he adds. “It’s still early to compare on fuel bills but we have found it to be warmer than our previous house. And while I do enjoy a spot of DIY, there won’t be anything I’ll need to do to the house itself, and Susan can enjoy her hobby of gardening as we have a new garden that is a blank canvas.” It hasn’t taken long for the couple to feel very comfortable with their property and their new surroundings. “We liked the fact it is a small development with a lovely community feel. Our favourite room in the house is the kitchen/diner as it’s spacious and a good size for entertaining. We’ve also got a spare room for family coming to stay and plan to use the third bedroom as a study.” There is currently a three-bedroom detached ‘Draycott’ show bungalow

open to view at Merrybrook Grange, one of four bungalows available for sale at the Pershore Road scheme, alongside two four-bedroom detached houses. Prices for a detached twobedroom bungalow at Merrybrook Grange start at £234,995. The threebedroom Draycott show home is priced at £270,995. Andre Nippe, sales director for Elan Homes in the south, says: “Merrybrook Grange is blossoming into such a friendly and close-knit community and it’s been popular with downsizers who want to swap an older house for a safe and secure new build. “Our homes provide buyers with the peace of mind that comes with knowing there is no work to do on their property; it’s completely stressfree and we will help every step of the way.” Find out more at www.elan-homes.co.uk/ merrybrook-grange; 07920 157510

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new homes 21

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Last chance to buy at Lovell’s waterside scheme in Stoke-on-Trent Just one apartment left for sale at Caldon Quay, via Help to Buy

f you’re looking to buy a twobedroom apartment in Stoke-onTrent with the government’s Help to Buy scheme, time is running out to snap up the very last property at Lovell’s Caldon Quay. The two-bedroom ground-floor flat can only be purchased through Help to Buy, which means that if you can put down a 5% deposit and raise a 75% mortgage on the £101,950 apartment, the government will put in an equity loan of 20% of the price – meaning a total upfront price to the buyer of £81,560. This final apartment at Caldon Quay has an open-plan kitchen/ living/dining space tailor-made for entertaining, and comes with a Juliet balcony. The modern kitchen is equipped with integrated fridgefreezer and washer-dryer, brushed steel chimney hood, plus a Bosch hob and oven. The master bedroom has en suite facilities and there is also a second bedroom and bathroom – so it’s ideal for a single buyer, young couple or

two friends purchasing together. What’s more, the price includes fitted carpets and an allocated parking space. “Homes at Caldon Quay have sold quickly with buyers appreciating the chance to secure a brand-new home in this brilliant location between the Caldon canal and Hanley Park,” says Lovell field sales manager Sian Lewin. “We’d strongly encourage buyers interested in our very final home to contact us now so as not to be disappointed.” Caldon Quay is located off Ridgeway Road, between the Caldon canal and historic Hanley Park, well placed for Stoke city centre, Hanley and the campus of Staffordshire University. Stoke-on-Trent railway station is just a mile away, with its fast services to Manchester and London. The marketing suite is open daily, on Monday from 11.00am to 5.00pm and Tuesday to Sunday 10.00am to 5.00pm. Find out more at www.lovellnewhomes. co.uk; 01782 482023

It’s got to be...perfect Shropshire couple make “the best move” into a brand new Redrow home

e drow’s new contemporary range of house designs really made a mark on Andy Overton and Aleks Psiurska, who have called their purchase of a brand new threebedroom home in Leegomery “the best move we could have made”. It was the extra space that really appealed to the couple about the three-storey Abode 138 house they bought, as they has run out of room at their old apartment. Their new home has an open-plan lounge on the first floor with the en suite master bedroom, underfloor heating and lots of discreet storage, leading to an uncluttered look Andy explains: “We had been living in a two-bedroom upper floor apartment with no outside space. We’d both accumulated lots of possessions and had no space to store everything.” Aleks adds: “The flat was quite small and so we needed more space and somewhere that we would both be happy with.” The couple had actually already reserved a property from another housebuilder before visiting the Abode Leegomery show homes more out of curiosity than any intention to buy. But circumstances led to the other property falling through, so they were able to return to the Redrow site to reserve the property they wanted there. “It was the best move we could

have made and if we hadn’t we would have regretted it for years,” Andy says. “We didn’t want anything flamboyant or old-fashioned, so the fresh look of Abode with the brick finish and grey roof was perfect. “The ground floor is open-plan with a large kitchen area, including an island that separates it from the dining and family area. It really suits us as there’s easy access out to the garden and lots of natural light.” Alex adds: “I love cooking so the most important part of the house for me is the kitchen, which is well equipped with integrated appliances.” The maintenance-free advantage of buying new build also appealed to the couple, as did having a ‘blank canvas’ on which to stamp their mark. “With a new build you have the reassurance of a 10-year warranty from the NHBC whereas with an older property you can have problems with maintenance and having to make improvements,” Andy explains. Aleks adds: “There’s no-one else’s touches only ours. We were able to walk in and put our character into the home rather than having to adapt from someone else’s choices.” Properties currently available at Abode Leegomery include two- and three-bedroom homes priced from £144,995. The show homes are open daily from 10am to 5.30pm. Find out more at www.redrow.co.uk; 01952 324977

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Tel: 0207 474 1121 www.hoola-london.co.uk newhomes@strawberrystar.com

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new homes 23

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Birmingham is home to the best neighbours in Britain Research from Anglian Home Improvements has shown that Birmingham is home to the most neighbourly residents in Britain.

v er 2,000 adults were asked how well they knew their neighbours, and what they were willing to do for the people who lived closest to them. Acts of kindness such as taking out the bins (53%), lending a cup of sugar (56%) and clearing snowy driveways (35%) were all gestures that people surveyed said they would do for their neighbours. Melanie McDonald, head of PR and brand marketing at Anglian Home Improvements, said: “Great Britain has a long-standing tradition of close-knit communities and it’s great to see these are still alive and well. “As well as traditional neighbourly gestures, many residents are now using technology to bring their community together and help each other out, from creating hyper-local websites, to setting up community groups on social media”. The survey showed that community spirit is still very much alive, with more than one in 10 Brits (12%) claiming

Thinking of selling your home? Do you know how much your home is really worth? Find out with our FREE valuation service. It’s a quick and easy process that you can carry out online or over the phone. Visit www.whathouse.com/value-my-house

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to know their neighbours very well, and only 3% saying they didn’t know their neighbours at all. Respondents were asked how well they know their neighbours on a scale of one to 10 – one being not at all and 10 being very well – and the national average was 6.6. Interestingly, it was female homeowners aged over 65 who live in detached properties know their neighbours best. It was found that homeowners know their neighbours better than those who rent, and those living in detached houses claimed to know their neighbours best out of all different property types polled – flats, terraced houses, semi-detached and detached houses. Residents in Edinburgh claimed to know their neighbours the best with an average rating of 7.1, while those living in Leeds felt they knew their neighbours the least at 6.1. However, Birmingham topped the table as the most neighbourly city with the highest percentage of respondents willing to carry out neighbourly gestures.

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WhatHouse? nominated in First Time Buyer Readers Awards 2016 WhatHouse? newspaper has been nominated in the Best Property Supplement category at the First Time Buyer Readers Awards 2016. Voting is carried out by you, the reader, so if you’d like to offer your support for WhatHouse? please do take a minute to vote at www.ftbawards.com/vote-now-2016.html We’re up against some pretty stiff competition but we’d really appreciate your vote if you think we deserve it. Remember you can also get daily news and articles on our website, www.whathouse.com, where you can also sign up for our newsletter.

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28 mortgages

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Child maintenance issues lead to mortgage woes for divorced parents Divorce brings its own financial problems, and one of the main issues is the difficulty single people can have in finding a lender that will agree a mortgage for them, says Nick Parkhouse

a rly January is historically a time where there is a huge increase in the number of married couples filing for divorce. Many lenders don’t take child maintenance payments into account as income, meaning it can be tough for single parents to get the home loan that they need. For many people, child maintenance is one of their vital sources of income. However, many lenders won’t take this money into account when deciding how big a mortgage they will agree. For example, the Daily Telegraph reports that the Coventry Building Society will not take maintenance income into account even when it is backed up by a court order. Santander and Accord, part of Yorkshire Building Society, will only count 50% of the maintenance payments towards total income. Other lenders are more generous, with Halifax, Barclays

and Metro Bank taking 100% of confirmed maintenance payments into account. Now, a leading mutual has announced that it will offer “more favourable” affordability checks for newly single people who are in receipt of child maintenance payments. Ipswich Building Society has announced that it will take 100% of child maintenance payments into account under its ‘Divorce Mortgage Programme’ as long as they are supported by a court order or by the Child Support Agency (CSA) and have more than five years to run. Mortgage expert David Hollingworth says that said single parents can run into problems if the mortgage term is longer than the scheduled maintenance payments. He says: “These payments are to help look after children, so they usually run until a child turns 18. If the payments are due to stop before the mortgage ends, lenders could ask

for evidence of additional income to support the loan.” If you are paying child maintenance then you might also find it hard to get the mortgage that you need. Most lenders will deduct the cost of the maintenance payments from your annual income when assessing affordability, meaning the amount you can borrow may be less than you think.

KEEPING UP REPAYMENTS ON A JOINT MORTGAGE IS VITAL TO YOUR CREDIT RATING If you are separating and you have a joint mortgage it is vitally important for your credit rating that you ensure that the mortgage payments are being made even if you are not living at the property.

Keith Osborne, editor of Whathouse. com, says: “If your mortgage is in joint names then both parties are responsible for the repayments irrespective of who is living in the house. A missed payment will have an impact on both of your credit ratings. Keeping up the repayments is crucial otherwise you could find it impossible to get a mortgage when you want to buy a property in your own name.”

Mortgage deals get cheaper after Bank of England postpones rate rise Homeowners looking for a mortgage in 2016 could benefit from the decision by the Bank of England to postpone a rise in interest rates.

financial analyst has revealed that the cost of mortgage deals in the UK has continued to fall, with a leading newspaper also reporting that some major lenders have cut the cost of their best products in recent weeks. Last year, many experts predicted that the Bank of England (BoE) would raise interest rates this year from their current record low of 0.5%. Many mortgage holders had

prepared themselves for an increase in payments but recent comments from the BoE suggest that the earliest rate rise may now not be seen until mid-2017. With rates expecting to remain at their record low for an eighth year, a leading financial analyst has reported that the cost of borrowing in the UK continues to fall. Moneyfacts say that the average two-year fixed-rate deal at 75% loanto-value (LTV) has fallen by 0.69% in just one year, while the average

five-year fixed deal at 75% LTV has dropped from 3.25% to 2.94% over the same period. Charlotte Nelson, finance expert at Moneyfacts, says: “Rumours flourished throughout the latter part of 2015 regarding an imminent rate rise, but now that governor of the Bank of England Mark Carney has said that it isn’t quite the right time to raise base rate, many borrowers can breathe a sigh of relief – at least for the time being. “However, it is still a question

of when the Bank of England will raise interest rates rather than if, so borrowers need to take advantage of current low mortgage rates before they disappear.” The statistics come after a number of UK lenders cut the cost of their mortgage deals in response to the Bank of England’s comments. This Is Money reports that the Yorkshire Building Society has cut the rates on its two- and fiveyear fixed rates by up to 0.5% while the Co-operative Bank and

Principality Building Society have cut their rates on some deals by up to 0.2%. Keith Osborne, editor of Whathouse. com, says: “With the Bank of England suggesting that interest rate hikes may now be over a year away, a number of high profile lenders have once again cut the cost of borrowing. I expect other lenders to follow suit and so this spring could be an ideal time for anyone looking to lock into a cheap fixed-rate deal.”

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investment

Beat the clock With a stamp duty surcharge on buy-to-let property being introduced on 1 April, we speak to Jerald Solis, business development and acquisitions director for specialists Experience Invest

Please tell us a little about yourself and Experience Invest. I’ve enjoyed a career in the real estate sales, marketing, development and investment industry that spans 20 years. I now head the business development and acquisitions departments where I take each and every project from acquisition to concept, design and then launch. Trading since 2004, Experience Invest is a London-based independent property specialist which offers opportunities to property investors in the UK and overseas, through providing exclusive investments across a variety of asset classes.

may shift attention to alternative opportunities such as student accommodation, which is typically available at a lower entry level. Our team also expects that investors will look for opportunities in the north – where property prices are much lower than London and the south-east of England. Although the higher rate of stamp duty may put some investors off, property will still offer higher returns than many investment options and will remain popular. New changes may be “the end of BTL as we know it”; however, money can be and will still be made from the market.

The stamp duty surcharge on buy-to-let (BTL) property has led some to consider “the end of BTL as we know it” - what are your thoughts on its consequences this year? The additional 3% stamp duty tax on buy-to-let property and second homes will come into play from April 2016. This is a step the government has taken to reduce buy-to-let demand and to give everyday people the chance to become a homeowner. The increased rate will make it difficult for investors to achieve a higher yield in the short-term. This may initially put some investors off. However, a lot of professional investors and landlords view property as a longterm investment and as a source of a regular, passive income. They may even think of it as an alternative pension. These people will look to recoup the higher initial cash outlay through holding on to their asset. Investors could still make money developing or repositioning property, home extensions, loft or basement or converting houses into flats or building purpose-built developments. These options come with a price tag which will leave many landlords with no other option than to pass on some of the cost to renters by putting prices up. At Experience Invest we have seen a slight rush of sales from clients who wish to invest in buy-to-let property before the new stamp duty rates are introduced. It is yet to be seen what the higher rates will do to the market; however, our team expects changes will have a greater impact on properties at the higher end of the market. Investors may seek opportunities towards the bottom of the scale to avoid facing a higher tax bill; this

Do you have a ‘typical’ investor client? We do not have a typical investor. Many of our clients are from all walks of life and from different countries around the world. Their requirements vary, which makes some investments more suitable than others. For example, some of our clients are looking for a retirement income. This type of investor looks for a fully managed opportunity which provides a long-term income stream. We are also contacted by professionals who are looking for a way to generate a passive income but don’t have quite enough time to research the market and manage their property themselves. This type of client generally has a good knowledge of the market and is looking for a trusted agent to provide them with investment opportunities. Experience Invest also has a large overseas client base. Overseas investors typically want to diversify their investment portfolio, move money to a secure country, generate passive income or are looking for opportunities with capital growth prospects. Our dedicated property consultants are able to provide information to suit the needs of our investors. This is why our team is always keen to touch base with new clients to establish their requirements and what they hope to achieve through their property investment. Are there any common misunderstandings about investment that new clients bring, which you have to dispel? Looking for the cheapest property with the highest-possible yield and longest-assured return may seem easy, but for many novice investors it can

lead to impulsive and bad decisions. A cheap property is cheap for a reason. Other factors, such as the location, the rental demand, the rental amount and the potential for capital growth also need to be considered. The property must tick all the boxes based on the investors’ criteria, so it is important that they understand exactly what it is they are looking to achieve from their investment. There is also no such thing as a quick fix and investors need to be prepared to consider a medium-to long-term strategy when investing in property. Another misconception we face is that buying locally is better. Many people think that the place they live in is the best place to invest because they know the area. If you are looking for a more hands-on investment then this may be the case; however, it is sometimes wise to use a property specialist. Clients who enquire about a property through Experience Invest will receive a tailor-made brochure, which will include a financial breakdown, a location overview, market research and more. Research has been conducted on the behalf of the investor so they can learn about other markets which they may have previously ruled out. The properties we offer often perform better in an investment portfolio than the house next door. What makes new build a great option for investors over other types of property? Generally, new build properties come with a warranty that covers any defects and damages during the first seven to ten years. This warranty could save investors a lot of money as opposed to an old property. Some new build developments also offer a discount off the price during the build stage, so there is the benefit of capital gain over construction, and a better rental yield in future. They usually also offer a full turnkey management and letting option for investors. They also can be convenient for investors looking for a split payment plan over construction.

that have a strong demand from their respective markets. Our current residential opportunities boast town or city centre locations and our student developments are located just a short walk from main university campuses. All of our developments provide investors with a rental assurance, which is fixed for a pre-determined amount of time. One Wolstenholme Square is our latest residential opportunity in Liverpool’s city centre. Apartments within this development will generate 8% net per annum and will be assured for the first three years of the investment. Our latest student development, London Spring Place is located in the heart of Luton and is only a few minutes’ walk from the University of Bedfordshire. En suite and selfcontained studios within this development will provide investors a three-year assured income of 8% net per annum. Experience Invest has a selection of opportunities which have been designed to provide a low entry-level way for investors to expand their property portfolio. Each opportunity is fully managed and will generate a passive rental income.

What does new student accommodation offer investors? UK student accommodation is a progressive asset class which has gone from strength to strength. In 2015, there was around £5.7bn of investment in the sector – this is more than double what we have seen in previous years. Year after year we have seen the amount of money pumped into the sector rise, which is a clear indication of the increasing popularity of the sector. Most purpose-built opportunities are fully managed. This attracts people who are looking for an armchair or ‘hands-off’ investment. Again, this type of new build property comes with a warranty and, as students are required to pay a deposit, any damages can be deducted before their money is returned to them via the relevant deposit protection scheme. All student property investments available through Experience Invest have been created to attract a wide pool of tenants. Most developments have a selection of onsite facilities such as a gym, games room, meeting and cinema rooms, which are free for students to use.

What developments are you currently offering to investors?

Are there any areas bubbling under to become an investment hotspot?

We have a selection of exclusive residential buy-to-let apartments and purpose-build student rooms. Our team takes great pride in only sourcing opportunities in areas

Yes. Our opportunities in the student property market receive the most amount of interest from investors. Many people wish to find out more about the asset class as a whole.

In recent years we have also witnessed a shift in investor attention towards the north of England. Liverpool, Manchester and Leeds have all emerged as key areas for investment. What’s in your pipeline for later on this year? Without giving away all of our secrets, we have some very exciting opportunities coming up in 2016. We have just launched phase two of our only student development in the south of England. Phase One of London Spring Place, which is in Luton, was one of our most popular options for investors last year. We are incredibly excited to bring phase two to the market and offer our investors some of the highest returns on the market. The Experience Invest team is also gearing up to launch some incredible developments across the country. Despite the rise in stamp duty taxes, which will come into play very soon, the whole team is incredibly confident about our upcoming property investments, which will deliver high and assured rental returns.

30 armchair gardener

The winter and spring flowering Camellia provides a beautiful splash of colour when not much else is in bloom

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The evergreen Ceanothus, or Californian lilac, produces a mass of stunning blue flowers between late spring and early May

Cotoneasters are versatile evergreen shrubs that make excellent ground covering plants

Magnolias produce beautiful goblet or star-shaped flowers that flower in the spring and summer

Hydrangeas have delicate heads of flowers in shades of pink, white and blue

Daylight shrubbery Richenda Oldham chooses her favourite shrubs for all year round interest and colour

f you are looking to create a garden bursting with colour and interest all year round, then without doubt your planting list should have the heading “shrubs” right at the top. Shrubs are a garden essential, providing both structure and decorative impact - they are an important foundation ingredient in beds and borders, creating shape and context for other plants. When it comes to choosing shrubs, there’s a huge variety out there and you are sure to find plants that will suit your garden situation and soil type.

There are both deciduous and evergreen varieties, which will produce flowers throughout the summer, and others that will remain in flower or produce colourful berries throughout the autumn and winter months. Or you could choose aromatic, scented shrubs to help make your garden more sensory. Varieties such as Lemon Verbena, Buddleja, Daphne, Hebe, Lavandula, and Mahonia, can be planted next to paths and entrances, so their wonderful smells can be appreciated on a daily basis.

POPULAR SHRUBS Viburnum - this handsome and versatile shrub is easy to grow and there are between 150-175 species to choose from. There are plenty of excellent summer examples as well as winter flowering species to suit your taste - whether you want standalone plants or ones to integrate into a border. Viburnum farreri has stunning sweetly scented winter flowers, while the handsome summer flowering Viburnum x hillieri ‘Winton’ was given the Award of Garden Merit by the Royal Horticultural Society. Camellia – hardy and disease resistant, it is not surprising that Camelias are rated as one of the world’s best flowering plants. Glossy green foliage provides an attractive backdrop for a wide range of flowers in all hues of red, pink, white and a combination of

all three. The size of the flower ranges from small (just a few centimetres) to over 15 cm.

watch out, it can be invasive and will colonise open dry ground.

Cotoneaster – this popular garden shrub, which hails originally from Asia, comes in both evergreen and deciduous species. It produces white/ creamy white/light pink/dark pink/red flowers in late spring through to early summer and in winter it has bright red/orange or pink berries that are attractive to birds.

Berberis – this unappreciated shrub is actually a spectacular and useful plant of over 500 species. It’s tough, grows well in most soils and produces long lasting berries in shades of red, blues, blacks, coral and amber. Berberis will tolerate extremes of weather and temperature and is a must for wildlife gardens, providing food for both birds and small mammals.

Buddleja – rich in nectar and honey scented, buddlejas are sometimes known as ‘butterfly bushes’ as they are attractive to butterflies, as well as bees and moths, with flowers ranging in colour from pastel pinks to vibrant yellows and reds. The best known species is Buddleja davidii, but

Hydrangea – this popular garden shrub thrives in a well-drained yet moist soil and likes semi-shade. It is well known for its mophead and lacecap species, which have the ability to change colour in different soils. Its delicate flower heads come in shades of pink, white and blue.

The smart money knows when to move,

we provide the where.

If you’re looking to buy an Edinburgh property valued over £325,000, then now is time to make your move. From 1 April 2015, Stamp Duty will be replaced in Scotland by the Land & Buildings Transaction Tax, which will beneﬁt purchasers of

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lower priced properties, but will cost buyers of higher priced homes thousands of pounds more. Fortunately, at AMA, we have a

Caer Amon Apartments, Cramond

range of superb detached family homes and award-winning apartments throughout Edinburgh available to purchase now. If the

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prospect of saving thousands of pounds in tax wasn’t enough, many have additional incentives to make your purchase smoother.

Caer Amon, Cramond

Transactions must be completed before the 1 April 2015, so contact Behnam Afshar today on 0131 226 1780

Springside

or email behnama@amahomes, to discuss your options and view our range of homes.

For further information telephone 0131 226 1780 or visit www.amahomes.co.uk

Shandon Garden Marchmont School Printhouse, Canonmills

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