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
September 2015
INTERIORS P13 GARDENING P17 AGENT INSIGHT P24 INVESTMENT P28 MORTGAGES P30
Super nature –
homes with exceptional character P6
Get up! – first steps on
the property ladder P19
Distant dreams
– choosing your ideal overseas home P3
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
West Midlands, Staffordshire and Shropshire – Find your new home at Whathouse.com
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Inspired by tradition
TRADITIONAL CHARACTER, CONTEMPORARY LIVING If you're searching for a new home with traditional charm as well as all the internal features you desire for comfortable, convenient and stylish living, look no further than Hopkins Homes and Hopkins and Moore. We are East Anglia's leading developers, building collections of homes to exceptionally high standards, each one individually designed to complement its setting, be it town, village, countryside or coast.
Call us or visit our website for further information hopkinshomes.co.uk • 01394 446860 Hopkins Homes builds traditional award winning homes throughout Suffolk, Norfolk, Cambridgeshire and Essex
Find your new home at whathouse.com/new-homes
overseas property 3
Buying a home overseas Welcome! A More than a quarter of a million Brits buy a home abroad each year, but is it as straightforward as it seems?
I
t’s a good time to purchase an overseas property, with European markets improving, increased mortgage availability and favourable exchange rates encouraging Brits to purchase real estate on the continent. Indeed, the prices being paid by British buyers in Europe have dropped by around 10% since the start of the year, as the pound goes from strength to strength. Each year, around 300,000 Brits take the plunge and buy a home overseas, but it’s not always plain sailing. The buying process varies from country to country, and some markets are more difficult to gauge than others. Here’s our guide to finding and purchasing your ideal overseas home.
CHOOSING A LOCATION The first thing you will need to clarify is the primary reason for your purchase. Are you moving abroad permanently, using the property as a holiday home, or purchasing as an investment to boost your pension pot? Whatever your reason, you must thoroughly research everything from the climate to the attractions and the transport links of each area you are considering. If you’re planning on becoming a landlord, you also need to look in to the local schools and amenities in greater detail. Buying in a desirable area with positive market growth is important whether you’re an investor or a settler, so get to grips with the local property market, and above all, always visit the area before you commit to anything.
TRANSPORT Do you need easy access to the UK for family or work commitments? If so, find out how close the property is to the airport and train connections. Adding an extra day of travelling to each end of your journey might not seem too important right now, but could prove to be a major headache once you’ve moved. Keeping a close eye on transport is also vital for those purchasing for buy-to-let purposes, with transport links ranked among the most important factors for renters.
BUDGET We’ll come on to the additional costs of purchasing a property later, but carefully outlining your purchasing budget should be at the top of your list before you start weighing up different locations. Having a degree of
BUYING TIPS certainty about what you can realistically afford could save you heartache and the danger of being drawn in to stretching your finances to their limits.
CLIMATE A place in the sun sounds perfect on a cold day in England, but what does it really constitute? Consider how well you will adapt to the climate in your chosen area – perhaps it won’t be hot and sunny all of the time, or it could be sweltering. At the other end of the scale, you need to be aware of any extreme weather in rainy seasons, with countries such as America prone to hurricanes and tornadoes.
LOCATION One of the biggest allures of purchasing overseas is the promise of a change of scenery, so make a list of the things you are searching for in your new location. Do you want to be at the heart of the action in a large city centre, or are you in search of a rural escape in a small village away from everything? The good news is that popular countries such as France and Spain offer a range of lifestyles suitable for all types of buyer.
LIFESTYLE Do you want to live among the locals and sample a truly unique atmosphere and way of living, or would you prefer living in a neighbourhood surrounded by other expats? When considering how you might fit in to an area, take a look at which amenities are most important to you, from the necessary – medical facilities and schooling if you have children – to the recreational.
MOST POPULAR PLACES FOR BRITS TO BUY HOMES ABROAD
BE WARY OF SALES TACTICS Never rush in to buying the first property that you visit. Ensure you view a range of homes and, if you are taking a trip with an agent, be wary of the hard sell. The best thing to do is take your time and wait until you have returned home before making any decisions. If you then want to purchase, visit again alone for a ‘warts and all’ viewing.
APPOINT AN INDEPENDENT LAWYER Even if the purchase seems relatively straightforward, you should always use an independent lawyer who will represent your interests throughout the transaction. Taking independent advice will offer a degree of protection when dealing with local agents, and although it could cost a sizable fee, this isn’t an area of your purchase to cut costs on.
BE CAREFUL WHEN BUYING OFF-PLAN Off-plan sales are very popular at home, particularly in busy city markets where great deals can be available for early birds who are willing to wait, or investors looking
to ‘flip’ a home. Off-plan purchases abroad involve are more risky, however. If you choose this route, take legal advice and do not make any payments without a bank guarantee, and ensure all sales contracts involve a money-back guarantee if the development is not started, delayed, not completed or built to a poor standard. Always do background checks on the institutions involved and keep copies of all documentation. If in doubt, seek legal advice.
CONSIDER ADDITIONAL COSTS In the UK, the additional costs of purchasing a home average around £12,000, and you should budget similarly when purchasing abroad. Surveyors, mortgages and taxes will need to be considered, as will financial advisor costs, international bank transfer fees, translation fees and legal fees. Speak to estate agents and consider visiting international property trade shows to learn about the different processes in other countries. Some countries will offer tax breaks for purchasers to encourage growth, and lawyers’ fees vary significantly from country to country.
Existing owners: 1. France 2. Spain 3. USA 4. Cyprus 5. Portugal Future buyers: 1. Spain 2. France 3. Italy 4. USA 5. Portugal
s our supplement this month illustrates, there are plenty of genuine reasons for first-time buyers to be optimistic and the some of the statistics released over the summer have brought good news for homeowners, too. Most regions are seeing a modest increase in property prices year-on-year, which is what most homeowners want to see. Mortgage rates are still pretty low, though nudging up slowly in anticipation of a base rate rise in the next few months – but there’s still an opportunity to grab a great fixed rate before they do. Summer is usually a quiet time in the property world, and it usually jumps back into life in early September. Having said that, a development I visited in Horley, Surrey had 30 people move in throughout July (out of just over 90 apartments), so it was certainly a very busy month for the sales team there. September is the time you really need to start getting your househunting shoes on if you hope to be in a new home by Christmas. The legal and financial processes can take much longer than you think and it’s never certain how long it may take to find a home you really want or to sell your existing one, if you have one. There is no reason for dilly-dallying if you’re serious about making that move by the end of the year. My September will be peppered with visits to developments all over the country as part of the judging process for the WhatHouse? Awards, our annual celebration of the very best new homes in Britain. This housebuilding industry event is the biggest and most prestigious of its kind and you’ll be able to catch up on last year’s winners in our November issue and get the lowdown on this year’s prizes in the December issue. If you’re interested in buying a new home, remember to keep visiting Whathouse.com for news and features about the latest developments around the country. We’re relaunching the site this month, so you’ll see some snazzier graphics and find searching much easier, particularly on your smartphone or tablet. If you have any feedback about the new site, do drop me a line or tweet.
Happy house-hunting!
Keith Keith Osborne, editor. ko@whathouse.com @keithosborne69
Now on Sale:
Help to Buy
an exciting range of 2, 3, 4 and 5 bedroom homes in Brierley Hill. Choose from 10 different designs! Artisan’s Walk is a whole new community, perfectly placed almost equidistant from Wolverhampton and Birmingham, just off Brettell Lane, with views towards the Clent Hills. Beautifully built to an exacting specification using energy saving technology, all the homes at Artisan’s Walk will be economic to run. The careful design and well thought out interiors will make them practical and comfortable to live in too.
Ask about our launch incentives 2, 3, 4 & 5 bedroom homes from £155,000
Showhome open daily 10.00am - 5.30pm
Artisan’s Walk, off Delph Road, Brierley Hill, DY5 2RP Call: 0845 873 2887 or visit: www.lioncourthomes.co.uk
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 from10th 3rd September August to 1st from to September 9th Octoberwill willwin 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. Stephen Maunder is assistant editor of Whathouse.com, having previously spent 18 months there as a freelance special correspondent. He has a background in academic research and has worked at Sky News as a picture researcher. He has also written for BBC News, Huffington Post UK and the Shropshire Star newspaper.
What House?
@What_House
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 manager of sales Andy Lunn Sales Murad Paloba al@whathouse.com mp@whathouse.com Business development Head of digital Simon manager Phillips Steve Coyle simon@whathouse.com sc@whathouse.com Sales manager Murad Paloba Cover photo: The OId Chapel, Noss Mayo, mp@whathouse.com South Devon, £637,500, courtesy of Head of digital Luscombe Maye;Simon 01752Phillips 872417 simon@whathouse.com Cover photo: Earls Green in Barassie, Troon courtesy of Stewart Milne Homes, from £139,995, stewartmilnehomes.com, 0845 075 8145
Published by: Globespan Media Limited, Published by: Globespan MediaLondon Limited,SE1 291-299 Borough High Street, 291-299 Borough 1JG T: 020 7940 High 1070Street, London SE1 1JG T: 7940 1070 E: 020 info@globespanmedia.com E: W:info@globespanmedia.com www.whathouse.com W: www.whathouse.com Printed by 39zero / Distributed by Royal Mail Printed by 39zero /Media Distributed © 2015 Globespan Limitedby Royal Mail © 2015 Globespan Media Limited WhatHouse?, ISSN: 02691310 WhatHouse?, ISSN: 02691310
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
The Artist’s Cottage, Farr, Inverness from £650,000 The Artist’s Cottage is designed by world famous Scottish architect Charles Rennie Mackintosh. It is a beautiful and unique property that was, according to literature, meant to be his retirement home, and it incorporates many features associated with the key architectural figure, including windows of traditional Mackintosh design. The house is on the outskirts of the village of Farr, six miles from Inverness, in the quiet countryside with beautiful undisturbed panoramic views over the surrounding hills. Despite its impressive historical connection, it is not a listed building and the buyer is free to keep it as it is or make changes to it. The accommodation consists of the entrance vestibule, double-height dining hall with exposed beams, and a lattice staircase to
the first-floor accommodation. The drawing room has a large bow, stained glass window, there’s a modern fitted kitchen, study area adjacent to the stairs and a cloakroom. The single-storey wing provides four bedrooms, three of which have shower rooms and two bedrooms currently used as an office and hobby room. The staircase leads to a large galleried landing with fitted book shelving and there are two bedrooms, both with en suite shower rooms and a generous studio/reception room with exposed beams and access to a balcony and stairs rising to roof terrace with magnificent panoramic views.
From: Urban.co.uk Contact: 0800 689 9955
Six appeal
Our pick of character homes currently for sale The Old Chapel, Noss Mayo, Devon £637,500
Foundry Field, Burnham Market, Norfolk From £615,000
Built in 1870, The Old Chapel has stone elevations, brick quoins surrounding the Gothic windows and is situated in an elevated position overlooking the creek. The property has been renovated to an exceptionally high standard to provide stylish reverse-level living accommodation using a combination of natural materials and quality fixtures and fitting, resulting in a contemporary property in the heart of this delightful waterside village. The modern interior includes a kitchen with utility room and a range of integrated Neff appliances, three bedrooms and three en suites. There’s an elevated deck, which not only
Foundry Field is a new development that will offer a selection of 27 new homes combining traditional design with modern interiors, including locally sourced exterior flintwork and brick, to sensitively reflect the charm and character of the village. The development will offer a selection of two-, three- and fourbedroom houses, all of which are surrounded by beautifully landscaped green spaces. Known locally as Norfolk’s ‘loveliest village’, Burnham Market has been rated 2015’s seventh best place to live in Britain by The Sunday Times. The village is part of the Norfolk Coast Area of Outstanding
makes for a great al fresco dining location, but also provides views over the creek. The twin villages of Newton Ferrers and Noss Mayo enjoy a delightful riverside setting on the wooded slopes of the estuary of the River Yealm. This sheltered, deep water harbour is much favoured by yachtsmen and lies within a beautiful valley in the unspoilt South Hams countryside, an Area of Outstanding Natural Beauty and Special Area of Conservation.
From: Luscombe Maye Contact: 01752 872417
Natural Beauty, and benefits from easy access to a number of nearby beaches and breathtaking scenery. It takes just a few minutes to walk to the village green, which plays host to an array of independent boutiques, delis and the popular hotel and restaurant The Hoste Arms. It is also well placed for exploring the coastline’s many other treasures; from wildlife reserves and pretty quaysides, to seal watching and iconic windmills, the attractions are plentiful.
From: Hill Contact: : 01263 712625
For the latest on the property market
six appeal 7
@What_House
The Old Wheelwrights, Modbury, Devon • £349,950 An attractive property with a rich and quirky history, as twice in ancient days it was used as the town’s brothel! It certainly has an unusual past, but its feature fireplace, vaulted ceiling, oak beams, two spiral staircases and Juliet balconies make it a truly charming home with plenty of character. Located in the popular Devon town of Modbury, which is renowned for its natural beauty, this fourbedroom property is an excellent investment opportunity, being self-contained at ground floor level it offers separate accommodation for letting purposes.
Alderbrook Road, Clapham Common, SW12 £2.595m Situated on Alderbrook Road within the popular ‘Nightingale Triangle’ is this magnificent six-bedoom double-fronted family home. Carefully refurbished by the current owners, it offers modern living without losing any of the period charm that makes these houses so special. The entrance hall has been immaculately finished with tessellated flooring, ornate cornicing and traditional cast iron radiators throughout. Through to your left, you’re met with a reception room and cosy a snug – perfect for those
wintery evenings in front of the TV. Back through the hallway and into the substantial 30 ft kitchen/dining room, you’ll find the high ceilings, natural light and bespoke design all collate to instantly put you in the most relaxed of moods. The ample dining space, extensive storage, original fireplace, Corian worktops and fantastic central island complete this exceptional kitchen. Accessed from both the kitchen and garden room is the paved, westfacing garden. Complete with raised mature flowerbeds, entertaining area and a cleverly placed wall
mirror which increases the feeling of space brilliantly. Upstairs to the first floor, which amounts over 1000 sq ft, you’re greeted with a superb master bedroom with fitted wardrobes and a sizeable en suite. In addition to this you have two further double bedrooms and a beautifully finished shower room. The top floor, almost mirrored in size to the first, has a further three double bedrooms, a handy office room and another large bathroom.
From:Douglas & Gordon Contact: 020 8673 0191
This first-floor annexe has recently been modernised and comprises a newly appointed kitchen, spacious lounge/diner, double bedroom and shower room. It is a versatile space that could be used as part of the main house or as a separate dwelling benefiting from its own access, underfloor heating, double glazing and separate electricity supply. The current vendors have previously let the annexe for £495 pcm.
From: Luscombe Maye Contact: 01752 872417
Evergreens, Otley, Leeds, West Yorkshire • From £575,000 Evergreens used to be the offices of Dawson, Payne and Elliot, the company which famously revolutionised the printing industry more than a century ago by creating the Wharfedale Printing Machine, which now stands today in the Yorkshire Museum. Following the invention, the names Dawson, Payne and Elliot are now synonymous with the name of Otley. Evergreens was recently owned by the late Frederic William Whyte, a former director of Dawson, Payne and Elliott and includes the original air raid shelters built for the factory workers during WWII.
The property is an individual three-bedroom detached home set within generous and wellestablished gardens. It boasts an abundance of impressive character features along with three reception rooms, a kitchen and downstairs cloakroom, three double bedrooms and a family bathroom. Externally there are gardens to four sides incorporating a large driveway, double garage, stables, out buildings and orchard to the rear.
From: Hunters Contact: 01943 660002
Communication is the key to success At Moving Made Easy, we have a reputation for providing an unbeatable service in Part Exchange and Assisted Sales. We are proud to operate on a national scale with some of the largest housebuilders in the UK, Barratt Homes, Berkeley, Bellway and Redrow Homes to name just a few. Our promise is to communicate with you effectively and pledge to keep you informed of our progress every step of the way.
No one does it like Moving Made Easy.
t 01787 222700 e info@mme.uk.com www.moving-madeeasy.co.uk
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10 new six appeal homes
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New homes arriving soon on The Farm A range of properties is coming to rural Warwickshire
T
aylor Wimpey is inviting house-hunters searching for their dream home in Warwickshire to register their interest in the new homes coming soon at The Farm in Weddington, near Nuneaton. The leading housebuilder is launching not one but two brand new developments in this village location on the outskirts of the town. Cotton Grange at The Farm and Milby Hall at The Farm will together comprise a total of 400 new homes, with a spectrum of property types including two-, three-, four- and five-bedroom designs. Prospective purchasers are being invited to sign up to receive the latest information about the forthcoming developments. The first new homes are released for sale at the end of September.
Elaine Taylor, sales and marketing director for Taylor Wimpey West Midlands, says: “We are very excited for the upcoming launch of these wonderful new developments, which will offer a range of high-quality homes in a beautiful semi-rural location.” Her colleague, Anne Wallace, sales and marketing director for Taylor Wimpey Midlands, adds: “We are expecting to receive a huge level of interest in these exceptional new properties, so I’d urge anyone who would like to secure one for themselves to contact us without delay – or they could risk missing out on their dream home!” There will be assistance schemes in place to make the process of purchasing easier and more affordable including Help to Buy and Taylor
Wimpey’s own Easymover. Weddington, a small parish in Nuneaton bounded on the west by the picturesque River Anker, provides a number of local amenities for residents at The Farm, including shops, a supermarket, pubs and restaurants. Parents will appreciate the choice of primary and secondary schools nearby, and the North Warwickshire and Hinckley College for further education, while commuters benefit from easy access to the A444 for Coventry, the A5 for Milton Keynes and London, and the M69 and M6 motorways. Rail services run from Nuneaton direct to Leicester, Birmingham New Street, Coventry and London Euston. Find out more at www.taylorwimpey.co.uk; 0247 771 2225 (Cotton Grange at The Farm) or 0247 771 2119 (Milby Hall at The Farm)
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 Download your free guide at everythingoverseas.com
EO - Advert v2.indd 1
23/02/2015 12:01
VERY EXCITING
Redrow homes have undeniable kerb appeal with distinctive, detailed architectural touches that set them apart from the competition. Very Inviting, Very Inspiring, Very Redrow.
NEW SHOWHOMES
COMING SOON TO
Hinckley and Tamworth We are pleased to announce that we will be opening the doors to our beautiful showhomes at Park View, Hinckley and Pennine Grange, Tamworth in July. Come along to Park View, Hinckley, today where the Marketing Suite is now open and we have a selection of 3 and 4 bedroom homes available from £224,995
Park View
Pennine Grange
Coventry Road, Hinckley LE10 0NU Visit: redrow.co.uk/parkview Call: 01455 698336
Pennine Way, Tamworth B77 4JF Visit: redrow.co.uk/pennine Call: 01827 902025
Image typical of Redrow homes. Price correct at time of going to press.
For the latest on the property market
interiors 13
@What_House
Rough with the smooth Mixing different textures can create some surprisingly pleasing and highly effective results says Richenda Oldham. There’s a wealth of materials to experiment with, so why not give it a go?
Y
o u may be wondering what all the excitement is over texture? And even whether you should be bothered? After all, what
is texture? Everything has a texture, which is to say, a physical composition or structure. Even smooth plastics and shiny metal have their own texture. Great interiors have many elements, from furniture to lighting and accessories. But the one thing that takes them to a different level – and one that professional interior designers know how to maximise really well – is texture. Using texture to great effect doesn’t have to be complicated. Things that have pattern and movement, or an inviting, tactile finish will all help bring a room alive. This could be something as simple as wooden floorboards, a rattan chair or a velvet, embroidered cushion. The trick is knowing what combinations work and creating the right balance. Texture will help generate a cosy, natural atmosphere and stops a room from being too sterile. But it doesn’t have to mean messy or cluttered. Some of the best really classic interiors combine a feeling of tranquillity with wow factor, by mixing textural elements in a structured and carefully planned way. Here are some texture ideas to help get you started:
TEXTILES Natural fabrics such as linens, cottons, silks and wools can all be woven with different finishes from flat to open
Fun Lovetwo Rattan sofa, £460, www.outthereinteriors.com
White Glass Mosaic Bubble candleholders, £37 for a set of three cylinder or ball candleholders, www.in-spaces.com
weave and used as curtains, upholstery, cushion covers or even wall-hangings. Try: quilts, linen bedding, kilim rugs, tapestries, velvet or silk cushions, woven wall-hangings, sheepskin rugs, Merino wool throws.
FLOORING AND FLOOR COVERINGS A wooden floor with wide, open grained planks will create a warm feeling, while smooth marble tiles will be cooler. However, when you add a coarsely woven jute rug to the tiles, for example, the dynamics are changed. Try: plain ceramic tiles with a geometric patterned wool rug for impact, or a deep pile fitted carpet in a neutral colour for serenity.
Reversible Midnight Stripe Flat Weave Cotton rug, £34, www.dashandalberteurope.com
Handcrafted luxurious Alpaca Fur cushion covers, £140 each, www.samanthaholmes.com
FURNITURE The rich patina of antique wood is a perfect way of adding texture to open, plain spaces. A carefully chosen piece of furniture provides a grounding effect and will allow the item’s qualities to really shine. Try: a worn leather sofa and velvet cushions, modern glass/chrome/brass coffee tables with coarse ceramic accessories.
ARCHITECTURAL ELEMENTS Original plaster mouldings if you are lucky enough to own a period house are features to be treasured as they add instant definition and structure to a room. Try: plants – but not too many – to complement the plasterwork. Custom built bookcases and of course books, will add definition to a featureless room.
Geometric design Woven Wool wallhanging, made to order, www.xavierandme.com
14 interiors
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@What_House
This contemporary hallway has been painted a vivid shade of strong blue, which makes a striking entrance statement; Marine matt emulsion from B&Q, currently £5 per 1 litre tin, www.diy.com
Vibrant aquamarine glass tiles with a translucent quality provide a shot of vibrancy in this chic modern kitchen; large format tiles in Colarado, www.originalstyle.com
Elegant and serious, navy blue is highly versatile and can be teamed successfully with any shade. It works brilliantly with pink, which provides a soft - but not harsh - contrast; Blue Print No 5 and Osterley No 25 matt emulsion, £38 per 2.5 litres, www.mylands.co.uk
Dusk blue is one of Pantone’s 2015 colour tones. It’s a nostalgic hue whose inspiration comes from the sky and is ideal for a stairway in a busy household; Cordwell 5 wool flatweave runner, £79.96, www.urbaneliving.co.uk
Use daffodil yellow cushions on a smoky blue sofa to evoke a sophisticated coastal look; www.tom-tailor.com
Bolt from the blue Blue isn’t just a major interiors trend in 2015, it’s also a hugely popular colour that represents calm and serenity. Richenda Oldham explains how to make the most of this healing hue
B
lue is fabulous, that’s a fact. It has been proven as one of the world’s favourite colour for centuries, appreciated for its qualities such as calmness, stability, authority, wisdom and loyalty. The healing restorative attributes of blue are well known – lapis lazuli stones were highly prized by the Egyptians, who believed they denoted royalty and spirituality, as well as bringing feelings of peace and harmony. Some cultures believed that blue had protective properties; hence doors, fences and exteriors were painted this hue as protection against evil. On the spectrum, blue is a cool colour and therefore one that calms the emotions, allowing us to concentrate
better and work well, making it perfect for offices. As a restful shade, blue is ideal for bedrooms, while its natural association with water makes it a good choice for bathrooms. You will certainly find you sleep better in a blue bedroom than in a room painted in strong, warm tones such as yellow or red. Because it is a colour of the mind, blue is also known for suppressing the appetite, so avoid using it in the kitchen or dining room - unless you are permanently on a diet! Despite being a cool hue, blue has the potential to be extremely uplifting and can offer much inspiration in nature – think blue skies studded with clouds, the intense blue of a bluebell wood, the crystal clear azure blue of the
Mediterranean Sea...
BLUE COMBINATIONS
So don’t avoid blue because of its cool properties, instead use its strengths to create beautiful rooms:
Try teaming blue with other colours and prepare to be amazed: • Feature – create a blue splashback in an all-white kitchen or bathroom, it will become an eye-catching feature. • Refreshing – shimmery blue/aqua mosaic tiles in a white bathroom, will add to the room’s invigorating appeal. • Country – team cornflower blue with sunny yellow for a pretty farmhouse feel. • Striking – use dark blue with gold highlights for a sophisticated look. • Coastal – navy blue and white
• Bring warmth and elegance to a room with dark blue shades, such as navy. • Pale blue shades such as powder blue can create a soft and harmonious look. This is especially effective in coastal/beach schemes, which have casual, windswept, sun-bleached qualities. • Blues that have red added to them will obviously be warmer than those containing yellow. • Use blue in rooms in south-facing rooms as it will diffuse the glare.
stripes is a crisp and nautical combination. • Highlight – switch the accent around – white walls with pictures framed in navy, or furniture such as a dining table/chairs or a bookcase painted blue. • Pattern – white and blue/blue and white printed wallpaper will add personality, particularly if used on a feature wall. Add yellow accessories for extra impact.
BLUES TO INSPIRE Dusty aqua – brilliant azure – cobalt blue – denim blue – navy blue – powder blue – sky blue.
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hampshire interiors 35 15
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A life of luxury Picture perfect
Holmfield House, Chilworth • £2.295m
with Morris Dibben A night in with the ‘telly’ has moved to a different level, with highly sophisticated T televisions and home cinema systems proving a tempting alternative to the silver his month, Simon Edser of Morris Dibben in Southampton talks us through his three favourite luxury properties currently on the market in Hampshire.
Find out more by contacting Morris Dibben on 02380 228822; www.morrisdibben.co.uk
screen. Richenda Oldham reaches for her popcorn and the remote control... Chilworth Grange, Chilworth • £1.275m The concave shape of a curved screen TV is meant to reduce the amount of reflection that appears on the screen and provides an immersive viewing experience. Samsung’s UE48J6300 48 in curved full high definition (HD) LED Smart TV has built-in Wi-Fi connectivity and integrated Freeview HD, as well as a powerful quad-core processor for speedy internet connection, £925, qvcuk.com
Situated in half an acre of grounds in the with galleried landing, which leads to five heart of a wooded valley, Chilworth Grange double bedrooms on the first floor, two of boasts a wonderfully secluded and tranquil which are en suite. Perfect for the kids, the location. Ideal for a family, the property top floor provides a fun games room. provides an abundance of living space, Edser comments: “The spectacular finish with a substantial kitchen/breakfast room of the rooms is the pièce de résistance of with adjoining utility room, dining room, this fantastic family home. The bespoke and drawing room, library and study on the handmade kitchen is certainly at the heart Bose’s Solo 15 TV Sound System is a single, but powerful speaker that ground floor. of the home, while the master bedroom en provides crisp, detailed sound thanks to its advance Speaker Array There’s also a wonderful reception hall suite offers the highest level of luxury.” technology. It is compact enough to fit beneath most TVs and costs £399.96, qvcuk.com
Forest Row, East Grinstead
Holmfield House is an imposing detached property built in 2000 on a charming one-acre plot. No expense has been spared with the property, which extends to over 8,500 sq ft. The extensive accommodation has been designed with entertainment in mind, including a substantial kitchen, wonderful dining room with doors that open out to the rear garden and an elegant drawing room. There are seven bedrooms arranged across the first and second floors, one of which is Polaroid’s new Ultramaster High Definition the wonderful bedroomSeries suite 6which televisions come in two sizes 55 in, £699, and 65 in, features a dressing room, en suite bathroom £1,099 TVs have 3840room x 2160 for crystal and -athe further shower andpixels sauna. clear picture quality and feature Freeview HD and Polaroid Smart Portal, which gives 60 regular Freeview channels, 12 HD channesl, catch-up TV, movie • £2.55m streaming and social media services, available in 32 stores nationwide, exclusively to Asda
This impressive detached property offers A great advantage of the property is the extensive accommodation. The charming two-storey guest annexe with two bedrooms, grounds, which approach one acre in size, a kitchen and living room, perfect for visiting are southerly facing and lightly wooded. family or friends or even as a rental property. The central reception hall leads off to Edser comments: “What makes this already Evolve’s new SB-2501 soundbar delivers a realistic the ground floor accommodation, which impressive property even more special is the surround-sound experience in four different sound The Panasonic TX-40CX680B Smart 4K Ultra HD TV incorporates a kitchen/breakfast room, striking double-height glass atrium at the ‘modes’ - music, movies, news and sport - so delivers four times the picture resolution of a normal family room, lounge and dining room, while rear, which floods the property with light, the user feels as if they are in the middle of an HD TV and features local dimming, which enhances the upper floors hold six bedrooms, four of providing a further reception space with auditorium. It comes with a wireless subwoofer, blacks for a more natural picture and Freeview Play, which are en suite. wonderful views of the gardens”. which adds bass reinforcement, as well as wireless which provides Roll Back TV including BBC iPlayer, ITV headphones, £199.99, www.midwichhome.com Player, 4oD and Demand 5, £599, www.amazon.co.uk
Electrolux Group:
Industry Leaders in Household Durables for eight consecutive years.
Electrolux is the only company in the Household Durables category to qualify for Dow Jones Sustainability Indices World, and has been included in DJSI every year since the index was launched in 1999. For more information, go to www.sustainability-indices.com
‘‘
Sustainability is an integral part of the Electrolux Group’s strategy, and we are therefore especially proud to have achieved the highest score of the Household Durables category for our efforts in the environmental area.
‘‘
Electrolux has retained its position as Industry Leader in the Household Durables category for the eighth consecutive year in the latest Dow Jones Sustainability Indices.
Henrik Sundström
Head of Sustainability Affairs at Electrolux.
16 interiors
For the latest on the property market
@What_House
Paler shades of pastel Bring out your soft pastels and use your minty greens, bubblegum pinks and powder blues to make fresh but stylish interior statements. But don’t overdo it – less is more, recommends Richenda Oldham... 3
5
1
2
4
1 Shabby chic: these vintage inspired large porcelain mugs in Pink and Blue come from the Katie Alice Candy Flower Collection; £4.50 for a set of two mugs, www.creative-tops.com; 2 Sitting pretty: inspired by Charles Eames’ revolutionary DSW design, this side chair looks amazing in Baby Pink – a Pantone inspired shade; £59, www.culturefurniture.com; 3 In the frame: show off your pictures in a pretty pastel frame – old floral prints will look doubly evocative; from a selection, www.oliverbonas.com; 4 Pack it up: These delightful little cardboard suitcases in retro pastel shades are perfect for storing toys or stationery and can tidy away inside each other when not in use; £17.95, www.tittlemousegifts.co.uk; 5 Shimmer shimmer: the delicate aqua shade of this 100% silk beaded cushion will make a classy statement in both vintage or contemporary settings; £29.50, www.shimu.co.uk
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armchair gardener 17
Be fruitful There’s a wealth of fruit trees that can be grown even in small spaces. Richenda Oldham suggests ways in which to create your own mini orchard
G Keep the soil around a fruit tree totally free of grass and weeds by applying a mulch
r owing your own fruit trees isn’t as hard as you might think, and there’s a fruit tree to suit every size of garden. So, if you’ve ever fancied picking fruit from a tree in your own garden, read on. The key to a successful harvest is simple: sunshine and lots of it. This means checking that the spot where you intend to plant your tree(s) has sun for at least six hours a day. If your garden doesn’t receive enough sunlight, then your crop won’t be as good. Sunshine is necessary, as it dries the leaves out and helps prevent disease, as well as providing the tree with enough energy to provide a good crop. Adequate drainage is also key. If rainwater takes a long time to seep away, keeping the soil soggy, then the
Fig trees have been grown in Britain since Roman times, but are best trained on wires or cultivated in containers
Espalier trees are perfect for small gardens, as the branches are trained to grow horizontally to form a compact, but productive tree
Plum trees produce fruit in mid to late September and should be grown in a sunny, sheltered spot
Apple trees grow fruiting spurs that produce flowers on the same shoots each year
roots of the tree will die. The alternative is to grow trees in containers. Dwarf trees are ideal for small gardens or patios. If you have a suitable sunny fence or wall, you can try growing espalier fruit trees up against them. Espaliers have been specially trained to grow flat against a fence, wall or frame, by judicious pruning and tying of the branches against the structure. They look absolutely stunning when mature and are an excellent way of maximising limited available space.
BUYING A TREE Make sure you know the potential size of the tree that you are buying and also whether it is self-fertilising. If your tree is not self-fertile, it will need to be paired with another tree. Ask your garden centre which combinations work best to get fruit. If you only have
room for one tree, make sure you buy a multi-graft tree, which has four or five cultivars (parts of other productive trees grafted onto one tree). Trees can be purchased either with bare roots or in containers, but make sure that the roots are well developed. Avoid any trees that are showing signs of disease.
PLANTING FRUIT TREES Digging-in plenty of well-rotted manure or compost will help improve your soil. Make sure you make a goodsized hole that is at least one-third wider than the tree’s roots. Put a stake into the hole, ready to support the tree when it has been planted. Secure the tree to the stake and water your fruit tree thoroughly after planting. Trees grown in containers will need more frequent watering than those grown in the ground.
DESTINED TO BE A LONDON LANDMARK
+ 360 aspirational apartments + Award-winning development team + Superb connectivity + Sustainable design + Near London’s new 3rd business district + Ideal investment property See for yourself at the Hoola Marketing Suite – now open! The Pavilion 1 Siemens Brothers Way Royal Victoria Docks London E16 1GB Images are artists impressions for indicative purposes
Tel: 0207 474 1121 www.hoola-london.co.uk newhomes@strawberrystar.com
Getting on the property ladder isn’t easy – but it’s probably easier than you think it might be
Special feature supplement
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Prices from
£575,000 Sat Nav: W7 3ST
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i th the number of first-time buyers (FTBs) at its highest level since the onset of the global financial crisis, there’s good reason for those hoping to buy their first property to be optimistic. The years immediately after the crash were very tough for people trying to get on the property ladder, as mortgage lending became extremely restrictive and demanded huge deposits, particularly from FTBs. But the latest figures from Your Move/Reeds Rains reveal, the number of FTB property sales have reached 29,700, its highest level since August 2007. There’s now a huge choice of mortgages for FTBs to consider and keen competition between lenders has meant interest rates have been kept in check. Our mortgage columnist Nick Parkhouse has revealed elsewhere in this issue that around a quarter of buyers have a deposit of under 10%. One thing FTBs will be looking at as keenly as other house-hunters is the likelihood of mortgage rates rising. Governor of the Bank of England, Mark Carney, has hinted that base rate will be rising in the coming months. Though a slow increase over the next couple of years
is forecast by most, the rise will have an impact on mortgage rates and affordability. There can be no doubt that government-backed schemes such as Help to Buy and Shared Ownership have been a huge boost for FTBs. Both schemes reduce the deposit requirement – to as low as 5% of the property price in some cases – and also the monthly payments, through an equity loan or below-market-value rent element. Nearly 50,000 new homes were purchased with the Help to Buy scheme in the first two years since its launch in April 2013. Though funding for it has stopped in Scotland, the government has pledged to support the scheme in England until 2020, so that number is likely to grow significantly over the next five years. Wales, though late to the party with the scheme, has also benefited well from its eventual introduction. If you’re looking for your first property, the message is – keep the faith. While it will inevitably mean a lot of discipline to save money, and may even require a ‘Yes’ from the renowned Bank of Mum and Dad in some cases, there are ways to make homeownership a reality, even for those on a modest budget.
BentleyCourt UXBRIDGE ROAD
Bentley Court is a new development of nine, 2, 3 and 4 bedroom homes tucked away in a gated court located off Uxbridge Road in Hanwell, Ealing. All the properties have private gardens and parking making this a fabulous environment for London living. For more information please contact Lea Valley Homes
The development is located next to St Mellitus Church, an imposing Gothic style building of the Edwardian period situated in the heart of Hanwell.
E | sales@leavalleyhomes.co.uk W | leavalleyhomes.co.uk
Specification includes Paula Rosa Manhattan kitchens with granite worktop, integrated AEG appliances, flooring throughout, contemporary fully tiled bathrooms and en-suites.
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20 property ladder
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Help to Buy – dispelling some myths Lynda Clark, editor of First Time buyer magazine, helps clear up some misconceptions about the popular government-backed scheme IT’S NOT JUST FOR FIRST-TIME BUYERS Whilst Help to Buy has helped thousands of first-timers, the scheme is also available to any homebuyer looking to buy a brand new home under the value of £600,000. This also makes the scheme ideal for secondsteppers who are looking to make their move into a bigger more spacious home and who perhaps don’t have enough equity in their property to do so through typical means.
NOT JUST A LOW DEPOSIT Help to Buy has two main benefits: firstly, the low deposit requirement; secondly, because of the 20% equity loan, homebuyers can enjoy more reasonable interest rates that are normally associated with a 75% loanto-value mortgage. So this means lower monthly mortgage repayments as well as low upfront costs.
INTEREST FREE FOR FIVE YEARS The sound of a loan might scare some people off but the equity loan with Help to Buy is interest free for five years. After five years, this increases year-on-year by a fee calculated at 1.75% of the equity loan plus 1%. So whilst it is probably a good idea to pay it back as soon as you can or when you sell the property, the loan is still cheaper than most mortgages – which, after all, are essentially loans anyway.
AVAILABLE TO ANYONE
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h e latest figures released suggest that the current Help to Buy scheme is going from strength to strength and has been taken up by just over 50,000 purchasers since it was launched in April 2013 – the equivalent of 131 households a day. The popular equity loan scheme allows homebuyers to buy a brand new property with just a 5% deposit. Buyers receive an interest-free equity loan for five years of up to 20% of the value of the property, which then allows them to access more affordable 75% loan-to-value interest rates. Despite its apparent success, reports suggest that there is still room for improvement, as it had been suggested that by now Help to Buy could have helped 60% more purchasers move home.
Help to Buy has been a lifeline for thousands of homebuyers across the country since it was launched two years ago. Giving many firsttime buyers a helping hand onto the ladder, the scheme has also helped other buyers move up and into their next home. You only have to speak to a handful of purchasers, who without Help to Buy would not have been able to buy, to know how helpful the scheme has been.
THERE ARE NO CATCHES OR HIDDEN CLAUSES Help to Buy is a genuine scheme that only requires a 5% deposit. Certainly you will have to pay the 20% loan back to the government but this isn’t required until the buyer sells the property – and its interest free for five years, so you can’t lose.
A common misperception is that you have to be in a certain profession to benefit from these schemes. The reality is that Help to Buy is open to any homebuyer looking to buy a property to live in, up to the value of £600,000. Of course, you still need to be able to qualify for a mortgage in the same way but other than that you certainly don’t need to be a nurse or a teacher – or live in a certain postcode - to benefit from Help to Buy.
LONDON FIRST TIME BUYER HOME SHOW For further information about Help to Buy, why not visit the London First Time Buyer Home Show at the Business Design Centre in Islington on Saturday 10 October? The show, which is sponsored by Nationwide, is an opportunity to find out how the scheme works and speak to the professionals, who can also show you a range of stylish new homes available with the popular scheme. One lucky first-timer who registers and attends the show will be in with a chance of winning £5,000 towards the cost of their first home. The free-to-attend exhibition has already received hundreds of enquiries and is set to be the biggest event to date. Lynda Clark, editor of First Time Buyer Magazine, says: “While the headlines continue to report an impossible market for first-time buyers, the reality is actually quite different. “Certainly, first-time buyers may need a deposit of £70,000 upwards if they are looking to buy a traditional terraced house in one
of the most popular areas of London. However, the First Time Buyer Home Show is designed to provide hardworking first-timers with all the information they will need to beat the market and get on the ladder. “This includes explaining schemes such as Shared Ownership, Help to Buy and also highlighting up-andcoming areas where property prices may prove cheaper.” Exhibitors on the day include: Barratt London Nationwide, Centra Living, Experian, Help to Buy, Viridian Housing, Affinity Sutton, Direction Law, Property Checklists, Metropolitan, Lighthouse Mortgages, Southern Homeownership, Beaumont Legal, Site Sales, Genesis Homes, PLFS, Pocket Living, Inspired Homes, TMP Sherwins, Prince Evans Solicitors, Plentific, Countryside, East Thames, Nottinghill Housing, PLS Solicitors, Peabody, Fabrica, Newlon Housing Trust and Fairview. To find out more register here www.ftbhomeshow.com.
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property ladder 21
Cloud 9 for young Air Force house-hunter Forces Help to Buy scheme makes homeownership a reality for RAF technician
S
amuel Riley, 26, a technician in the Royal Air Force, and his partner Rose Raynsford, 29, have moved into their first home, a two-bedroom ‘Tiverton’ house at Barratt Homes’ Woodland View in Lawley Village, Telford, thanks to the Forces Help to Buy scheme. The Forces Help to Buy Scheme, introduced by the Ministry of Defence (MoD) last year, allows people within the armed forces to take out an interest-free loan of up to 50% of their salary to secure a deposit on a property. The loan is then repaid at a manageable rate, with funds taken from their monthly salary over a period of 10 years. Sam is an avionics technician stationed at RAF Odiham in Hampshire, but he and Rose, who is a sales adviser in Telford, chose to move to Woodland View as Barratt Homes West Midlands was offering, in their view “the best two-bedroom properties on the market”. “Rose and I were really impressed with the development,” says Sam. “Barratt was definitely offering the best homes in the area so it wasn’t a difficult decision for us to choose them.”
The couple were also impressed by the customer service offered by the Barratt team. Early in the process, Sam was only able to travel to the development at weekends but the couple found a great deal of support from the housebuilder throughout their move. Sam explains: “I was really limited on time because I was living at the RAF base in Hampshire during the week, but the Barratt team were always on-hand helping us to get everything sorted and answering any questions we had. And they always made sure they were available at times that suited us, which made for a much easier move. “It’s really exciting for me and Rose to have our own space, it’s the first time we have moved in together and we couldn’t have picked a nicer home.” The Barratt team at Woodland View are delighted to be able to help forces personnel to buy a new home with the financial assistance scheme. Andrea Shotbolt, senior sales manager at Barratt Homes West Midlands, says: “We are pleased to welcome Sam and Rose to Woodland View and hope they will be happy here for a long time to
come. And it’s great that they were able to use the Forces Help to Buy scheme to make their dream of buying their first home a reality.”
There is currently a range of threeand four-bedroom homes for sale at Woodland View, priced from £167,950 to £209,950.
Find out more at http://whathou.se/ l6b17H; 01952 350 124
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22 property ladder
For the latest on the property market “You want to make sure you acquire your property at a bargain level and auctions are the way how.” A wide range of people are now acquiring all sorts of properties at auctions, from bargain hunters to private investors, as buy-to-let consolidates itself as the investment of choice, partly due to the dismal returns savers are currently receiving from banks and building societies. Despite genuine opportunities to bag a bargain, buying property at auction is not for the faint-hearted and, like any major investment, it requires appropriate due diligence, especially as some properties may have problems that are not obvious, including a degree of uncertainty around legal issues and their condition. Careful planning and focus is therefore needed.
DEVELOP AN AUCTION STRATEGY Before buying at auction, you should develop a clear, well-thought-through strategy that suits your aims and objectives. In essence, there are three key components to consider when buying property at auction: planning, understanding and action. Here is an outline of the process and a few things to watch out for.
PLANNING: Make sure you conduct your own research before attempting to purchase a property at auction, which includes arranging a number of things in advance:
Viewing Buyers generally have 21-28 days between catalogue release and the auction day to view a property. Viewings are usually at set times ¬– listed in the auctioneer’s catalogue – and so you will need to be free at that time or you may not be able to view.
Due diligence
Want a cheap first property? Get hammered!
Buying at auction can be a great way to bag a bargain first home, if you do your homework, says Marc Da Silva h e popularity of property auctions in the UK has increased enormously in recent years, supported by popular TV shows such as Homes Under The Hammer and a sharp rise in the number of national
and regional property auction firms popping up across the country. With great rental returns achievable and vast opportunities to potentially purchase property at below market values, at a time when residential property prices in some parts of the
country are at or near an all-time high, auctions are an obvious place to buy property. “Buying property at auction is a way of ensuring I don’t have to pay more than I need to pay,” says Michael Roe, a buyer of residential properties.
Once you have found your ideal home, undertake detailed research about the property pre-auction. You should also instruct a solicitor and appoint a surveyor.
Finance If your bid is successful, you will, at the fall of the auctioneer’s gavel (hammer), enter into an immediate and legally binding contract to purchase the property. You will need to pay a deposit of around 10% of the final purchase price on the day of the auction, with the remaining balance due within a relatively short timescale - typically 28 days. “You often buy at better prices at auction than through private treaty but then you are taking a greater risk in terms of timing,” says Roland Wallate, a property investor. “You have to be organised if you’re buying at auction as you don’t have the luxury of time and have to make quick decisions, which are binding in a saleroom.” Aim to get an ‘in principle’ agreement with a mortgage lender before you bid at an auction. However, the fast-paced auction process means that some buyers turn to short-term finance lenders for an instant loan,
@What_House at an inflated borrowing rate, before eventually securing a more attractive deal from a conventional mortgage lender.
UNDERSTANDING Because auctions can be rather intimidating, you should aim to get a feel for how auctions work by attending one in advance of bidding – a ‘dummy run’. Look, listen and learn by sitting at the back of the auction room. Take note: • Properties are sold one at a time. • Because an auctioneer acts on behalf of the sellers, they will aim to dictate the increments in the bidding, by seeking to make them as large as possible - usually 2-5%. But as the price rises they will almost invariably reduce when the bidding slows down and the sale price nears. • When the auctioneer’s gavel falls the successful bidder is immediately under a binding, legal contract to complete the purchase in line with the auction house’s terms and conditions. • The ‘guide price’ is often lower than the ‘reserve price’ (the minimum bid acceptable to the seller) to stimulate interest among buyers. • Pre-auction sales: You can cut out the competition by attempting to purchase property before the auction. Lucky buyers can acquire bargains in this way but they do run the risk of ‘disclosing their hand’ to the auctioneers and they can be passing the initiative to them.
ACTION By the time the auction day comes round, you should have a good idea of how the auction process works. If you are sure that you have found the right property, have conducted all necessary due diligence and have funding in place, it is time to make your move. • At the auction of the property you want, arrive early. • Take at least two forms of identification, a chequebook and your bank details with you. • Register with the auction house upon arrival so that you can bid. • Obtain an ‘addendum sheet’ upon arrival, as this will detail any additional information or amendments to the catalogue. • When bidding on a lot, make sure you catch the auctioneer’s attention. If you are unable to attend the auction in person you can always register to bid by telephone or set a proxy bid. • Set a ‘maximum bid’. You will be competing with other buyers on the auction day, which could mean encountering somebody determined to purchase the lot that you are interested in at any price. But it’s important to stick to your budget. • Finally, look out for unsold lots. Bidding post-auction can be a good way to pick up a below market value property, as both the seller and the auctioneer will generally be willing to sell and may accept a lower offer.
The smart money knows when to move,
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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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24 agent insight
Find your new home at whathouse.com/new-homes
Agent insight We speak to Paul Ivens of Green & Co, which has a network of sales and lettings offices across Sutton Coldfield, Tamworth, Castle Bromwich, Great Barr and Erdington. What do you expect to see happen in your local market during the remainder of the year? We are consistently above our forecast for market appraisals and sales, and have no reason to believe that will change in the coming months. There are plenty of homes coming on the market and plenty of buyers looking for homes – although we are finding that it’s taking longer for transactions to complete, partly due to the level of detail demanded from solicitors and lenders. We said at the start of the year that we were not expecting any significant increase in local property prices in 2015 and this has been true, but there is certainly still cause for optimism. It’s a very active market and I’m expecting that to continue for the rest of the year.
time to sell. With 24/7 viewings online and on mobile, we no longer see the traditional fluctuations in the housing market that we used to. Summer has been busy despite the disappointing weather and we are expecting interest levels to increase further when the children go back to school. As we get closer to Christmas, many people think they should wait until the New Year - but I would always advise getting your home on the market as early as possible. Year after year, the busiest days for online house-hunting are over the Christmas period, and if you wait until the New Year before marketing your property, you will miss out on that peak online traffic.
Is now a good time to sell your home? Mortgage approvals are up and the number of active buyers remains strong, so it is undoubtedly a good
1. The most important thing is to choose the right agent in the first place. Ask what the package includes, whether there is a restrictive tie-in period, what information the agent
What are your top five tips for people looking to sell?
will share with you, what they know about the local market and what they will do if your home doesn’t sell in the first four weeks. 2. Remind yourself of your home’s key selling points, any improvements you have made and the benefits of living in your area. 3. De-clutter. Grab a washing basket and pick up all those bits of paperwork, shoes, clothes, toys and anything else that doesn’t belong on the floor. 4. Choose your route. If you are hosting the viewing yourself, aim to end your viewing in the room that you are most proud of so you leave prospective buyers with a good impression.
Are there any prominent buying trends in your area?
5. Have a Plan B. Some homes won’t sell immediately and if this is the case, then my best tip to sell your home is to simply ask your agent how they are going to do it. A good agent will analyse the data available to them and look at ways to improve your online listings.
In Sutton Coldfield, the standard of education has a big impact on the property market. The royal town has no fewer than eight secondary schools, including two grammar schools, and the excellent standards are a key reason why people move to - and stay in – the town.
As a result, demand for homes in the immediate catchment areas of Sutton Coldfield’s Ofsted ‘Outstanding’ schools shows no sign of dropping and there is inevitably a positive impact on prices. Find out more at www.green-property.com; 0121 355 8828
Vista, Drayton Garden Village
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28 investment
Find your new home at Whathouse.com
Investing for pleasure T
Five sporting cities where you should buy a property he thrill of the live action thrown up by the best sporting events in the world makes them sought-after occasions that attract fans from across the globe. As any shrewd property investor will tell you, demand of any nature is good news when it comes to the future value of your property investment and the potential for it to gain in value or attract a regular source of rental income.
So, the sporting ‘demand’ around top events in the world of sport also makes for a lucrative avenue to explore for a property investor. As with any investment in bricks and mortar, location is key and never more so than when it comes to sport. Here’s our guide to the five best places to invest and some of the factors you must consider when going into the market in each of them.
LONDON, ENGLAND
PARIS, FRANCE Like Melbourne, Paris benefits from being the home of an annual tennis grand slam tournament. There will soon be added interest in events at Stade Roland Garros, however, with work due to be complete on an expansion of the famous venue in 2019. Not only will Paris enjoy a rejuvenated tennis showpiece, it will also be a major host city as France stages the Euro 2016 football tournament. Five games will be held at Parc des Princes while the Stade de France in the Paris suburb of Saint-Denis will host seven matches, including the opening game, final and a quarter final. Buying a property in the French capital involves a series of fees and charges set by the French government. It’s worth noting that new build properties are subject to VAT of just under 20%, whereas those older than five years are not subject to any. The pound’s strength against the euro should ensure that a Parisian property is a shrewd investment. The city itself is split into 20 numbered neighbourhoods (arrondissements). The 3rd and 4th are particularly attractive, being home to the fashionable Le Marais district and the Ile-Saint-Louis.
British shoppers shouldn’t ignore the fact that one of the world’s most attractive sporting cities is in fact the English capital. Those looking for a sound sporting investment would be best advised to look to the south-west of the city, where green spaces and good schools have seen strong growth in property prices. Not only is this the home to the famous Wimbledon tennis grand slam tournament but it is also the part of the city that is home to Twickenham, home
to international rugby encounters. Being close to those two will put you in a nice part of the city – and will still leave you handily placed to take in action at one of London’s five Premier League football teams or test match cricket at Lord’s – the home of cricket itself – or The Oval. Just because London is in the UK, it’s not a cue to be complacent. Any sensible property investment involves the input of experts; while legal documents, frankly, feel like a different language anyway.
TOKYO, JAPAN Tokyo is just a few years away from an exciting sporting double header. It will be one of the host cities when the Rugby World Cup comes to Japan in 2019 and will then host the summer Olympic Games in 2020. A Japanese government bondbuying programme has helped to encourage economic growth and lower the cost of borrowing in recent years. Cheaper borrowing has coincided with strong demand and rising prices, meaning rental yields of about 5%. The yen is weak, meaning foreign currency has a greater purchasing power, and investors will also benefit from the
knock-on effect of infrastructure projects that go hand-in-hand with preparations for the major sporting events in Tokyo. Foreign buyers should note that there is a mortgage premium that can add a couple of per cent to the rate for investors. Lenders such as Orix Trust, NAB Asia and the Bank of China offer loans to non-residents, although restrictions or lower lending ratios apply. The trick when buying in Japan is to think of land values, rather than specifically about property prices themselves.
MELBOURNE, AUSTRALIA MINNIEAPOLIS, MINNIESOTA Perhaps not the most obvious place in the US, Minnesota is, nevertheless, about to be thrust into the global sporting spotlight. Golf’s premier team tournament, the Ryder Cup, will be held at the Hazeltine National Golf Club in Chaska, and Minneapolis is due to host Super Bowl LII in February 2018 and the NCAA basketball Final Four the following year. There are no restrictions to buying houses in the USA as a foreign national. Buyers will need to find a realtor (an estate
agent) to get help and should be aware that most mortgage firms will want a 20% down payment from a non-US national when it comes to buying a house. Anyone investing in the USA also needs to look into visa and residency requirements. You can stay for 90 days under the Visa Waiver Program or you can opt to apply for a B-2 Tourist Visa, which can last for up to six months. If you’re staying longer you’ll need to become a permanent resident – the famous Green Card.
Melbourne’s sporting credentials are almost unrivalled. It boasts five superb international standard sporting venues and is the place to be in Australia for the F1 Grand Prix, Australian Open tennis tournament and the annual Boxing Day test cricket match played at the 100,000-capacity MCG, also home to the Australian Football League Grand Final. To buy a property near to the action you’ll first need to obtain permission from the Foreign Investment Review Board (FIRB) – provided you are not Australian or don’t have an Aussie spouse. This
normally takes 40 days but beware that it can drag on as much as 130 days. Further permission is required from the board before a property can be sold. The FIRB isn’t the only piece of red tape involved in an Australian purchase and so, as with any international purchase, it is vital to seek legal support from someone with local knowledge. Buyers must pay income tax once they are in the country for more than six months and must pay Capital Gains Tax unless the property is to be their main home.
30 mortgages
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Almost half of homebuyers have less than 20% deposit In fact, more than a quarter actually bought with a down payment of under 10%, discovers Nick Parkhouse
N
e w research from a building society has found that demand for high loan-to-value mortgages remains strong, with the average homebuyer in the last year having a deposit of 29%. The survey from the Nottingham Building Society has revealed that almost half of people who bought a property in the last 12 months or plan to do so soon had a deposit of less than 20%. Research from the Nottingham has
found that thousands of homebuyers still need a high loan-to-value mortgage when it comes to buying a property. The average deposit last year was 29% although 48% had a deposit of less than 20% and just over a quarter (27%) of buyers completing had a deposit of less than 10% of their house price. Demand for low-deposit mortgages therefore remains strong, and the choice of 90% and 95% loan-tovalue mortgage deals has increased from 325 in November 2011 to around
605 now. Ian Gibbons, Nottingham Mortgage Services senior mortgage broking manager, says: “Homebuyers are demonstrating their commitment for a deposit as highlighted by the average 29% they are able to put down. “Many will be using the equity they have built up in their home but it is also clear that people saving for deposits are succeeding in the market as well, with nearly half of those putting down 20% or less. Securing a deposit is of course only the first step,
as buyers then need mortgages and prices can vary considerably depending on the LTV, which is why searching the market is so important.” The study also found that cash buyers are still a force in the market – around one in eight people (12%) who have bought in the past year or plan to buy in the next two years say they do not need to borrow. The research from the Nottingham also found that, of the borrowers who have taken out a mortgage in the last three years, mortgage brokers were
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the most popular way of securing a home loan. Over the past year more customers are turning to intermediaries, with half of 25- to 34-year-olds using brokers to source their mortgage, a figure that drops to 40% of those aged 35 to 44, 28% who are 45 to 54 and 33% aged 55 to 64. Gibbons adds: “There is undoubted growing use of brokers. Seeking an independent view on the best deal available to a customer is a very sensible approach.”
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
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