produced by Lawlors Property Services
produced by: Lawlors Property Services produced by Lawlors Property Services
inhouse Dear Home Owner, Welcome to the first edition of IN-HOUSE - the exclusive new property magazine from Lawlors Property Services, featuring a wide range of property from Wanstead to Epping served by our offices at Chigwell, Loughton & Woodford Green. The magazine is designed to offer practical advice and useful information from local property related businesses that have their fingers on the pulse! Every month IN-HOUSE will bring to your door a wide range of properties exclusive to Lawlors Property Services tailored to meet most budgets from first time buy to high value luxury home. As an established local Company we are dedicated to provide a first class service to our clients so that we retain our position as this area’s premier independent estate agency. IN-HOUSE is the latest addition to the many services we already offer. We hope you will find it useful and informative, and that you will look forward to the next edition! Sandra & James Lawlor F.N.A.E.A. Sandra Lawlor
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James Lawlor
inhouse
contents 2
welcome
3
property news
4-5
feature - warren house, loughton
6-7
elite residential homes
8-9
elite residential homes
10-11
central line coverage
12-13
elite residential homes
14-15
feature - have you made a will?
16-17
elite residential homes
18
feature - playing the market
19
inconfidence
20
contact details
budgetnews Following the recent budget if you can find a property for under £120,000 you will no longer have to pay stamp duty. However if you buy a property at even one penny over this level you will pay stamp duty of 1% on the entire amount up to a property value of £250,000. At this level it will rise to 3% on the whole amount, and should you be fortunate enough to purchase a property with a value in excess of £500,000 you will be paying a whopping 4% of the purchase price.
Lawlors Property Services
news
professionalcontributors If you have a property related business and wish to join our team of expert contributors, bringing genuine advice and opinion to our inhouse public, then contact James Lawlor on 0208 502 5588, or by email at james@lawlors.co.uk.
LAWLORS PROPERTY SERVICES
Award Winning Team At last years glittering award ceremony Lawlors Property Services beat off fierce competition to win a prestigious Gold Award from the Daily Express and NAEA sponsored Estate Agents of the Year competition. This year we have again entered our three offices for this prestigious event. Jim Lawlor, Partner at Lawlors Property Services said “We were delighted to receive the award last year, as it was recognition for all the efforts our staff had put in during the previous year. Fortunately, we had a particularly good year in 2004, and therefore we have high hopes that the judges will receive an even bigger response from all our clients who received the official questionnaire.” The competition was judged on vendors and purchases replies to a wide range of questions relating to the quality of service provided by their agent. Replies are sent direct to the organisers and over 6,000 were received for last years competition. The competition was welcomed by the many participating estate agents from the whole of the UK who recognise the fantastic opportunity this competition gave to promote the image of quality estate agency. As part of our continuing policy of improving our standards all our staff are required to gain professional qualifications through the National Association of Estate Agents (NAEA) as a condition of their employment.
Warren House Your chance to own a part of a historic local estate in Loughton
E
arly details for Warren Hall written in 1909 proclaim it to be “a handsome and commodious family residence”; though the well known estate in Manor Road, Loughton has undergone many changes since its construction in 1865, it has certainly lived up to this description. Originally built for a Scottish Minister as his London residence, the house was converted in 1974, and the west wing was transformed into a self contained residence. This part of the property had previously been the ball room, and the original features have been preserved and restored by the current owners, Steve and Elaine Shears, who bought the house 8 years ago when it was left outdated and neglected.
“a fusion of Nineteenth Century features and modern day living;“ Feature by: Joe Spears They have restored this wing of the house to the highest standard, ensuring that they worked with the remaining features. The cornicing was commissioned to match an original Victorian design, and the sections of remaining authentic paneling in the reception rooms were emulated by an expert in
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Elite Homes
woodwork of this period. The entire house is a fusion of beautiful Nineteenth Century features and modern day living; the focal point of the living room is the marble fireplace and the solid oak flooring with mahogany inlay both of which date from when the house was built. This beautiful floor was discovered badly stained and under thread-bare patterned carpet during renovation, and has now been uncovered and restored. When the owners began the work, they spent months researching architecture and interior design of the Victorian period. “My advice to anyone restoring a property would be to research everything thoroughly, and realise that attention to detail is paramount” remarked Elaine. “And never hire a small skip!” added her husband. The family had to endure years of the stress of renovating; even sleeping in the utility room for six months whilst the first floor of the house was being gutted. This floor was a warren of dark corridors leading to the bedrooms; they re-arranged the space completely, achieving a large open hall. During this stage of the work they were inspired to create a Victorian style roof lantern to add height and increase the natural
light in the space; the result is stunning, and a second one has been installed in the master bedroom. There were, of course, countless set-backs. To create the spacious and modern kitchen and living area four rooms had to be knocked through, and it was while doing this that they discovered they were about to remove a load bearing wall that was holding up the upper floor of the house; work had to stop immediately while a structural engineer was consulted and twenty-eight acros were brought in to support it from the cellar. “Our daughters cried when we first moved in, devastated that we’d brought them to live in such a mess”, reflected Elaine. “Now they love it; it’s the perfect family home”. Though the renovation took the inevitable extra time and money to complete, the house now reflects its heritage, and is a contemporary haven built around traditional features.
”a fabulous home to raise a family” Having completed the renovations, the family is ready to move; with their daughters both at university, Steve and Elaine are left with a half empty family
house. “It will be hard to leave after all the work we’ve out into it, but we are ready for a new challenge”, Steve commented, as the couple are now looking for another renovation project. “We instructed Lawlors to handle the sale because of their strong reputation with unique and unusual properties”, he added, confident that whoever buys the property will have a fabulous home to raise a family. Please call Lawlors on 020 8502 5588 (Loughton) for more information and price.
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Residential Homes
LAWLORS PROPERTY SERVICES
WEST VIEW , LOUGHTON
£735,000
Lawlors Property Services have pleasure in offering on to the market this four bedroom family residence set in one of Loughtons more desirable cul de sacs. Property benefits include sitting room, downstairs cloakroom, kitchen, utility room, dining room, lounge, master bedroom with en-suite bathroom, bedroom two, bedroom three, bedroom four, family bathroom, rear and side gardens, off street parking and integral garage.
ELEVEN ACRE RISE, LOUGHTON
£925,000
We have the pleasure in offering onto the market this four/five bedroom detached family residence residing in one of Loughton's most desirable locations. The property provides ample living accommodation on three floors, double detached garage and fabulous gardens to both the front and rear. There is also a fantastic one bedroom attached annexe perfect for either an older relative, live in nanny or teenager making this property a great asset for the modern family to acquire. Property benefits include: kitchen/breakfast room, downstairs shower room, lounge, first floor dining room, four bedrooms, family bathroom, separate WC, front & rear gardens, off street parking and a double detached garage. The annexe accommodation comprises of: kitchen, lounge, bedroom, bathroom and separate WC.
CHURCH LANE, LOUGHTON £P.O.A An exceptionally well presented detached family residence set within this secluded location, boasting a plot of approx three quarters of an acre. Properties of this nature rarely come to the open market so we would advise an early inspection to avoid disappointment. Property benefits include: kitchen, utility room, dining room, sitting room, family room, cloakroom, study, galleried landing, master bedroom with dressing room, family bathroom, separate WC, bedroom two, second bathroom, bedroom three with dressing area, bedroom four, off street parking, detached triple car port, garage and rear garden approx 160ft.
t: 020 8502 5588 06
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Loughton, Chigwell and Woodford LOUGHTON OFFICE 165 High Road, Loughton, Essex, IG10 4LF t: 020 8502 5588 f: 020 8502 5802 e: property.loughton@lawlors.co.uk
Our offices are closed on Sundays but to arrange viewings, you can call the following number: 07736 234422
RIPLEY VIEW, LOUGHTON
£660,000
Lawlors Property Services are pleased to offer this extremely spacious five bedroom family house situated in a prime semi-rural location between Loughton and Theydon Bois. The property benefits from many fine features and has five good size receptions, a double garage, off street parking, and large gardens that are proportionate to the dwelling. We recommend a full internal viewing to fully appreciate the accommodation. The property benefits include: lounge, family room, study, ground floor cloakroom/WC, dining room, breakfast room, kitchen, utility room, five bedrooms, a family bathroom, a family shower room, an attached double garage, off street parking and gardens to the front and rear of the property with the rear garden measuring approximately 60ft in depth.
LITTLE PLUCKETTS WAY, BUCKHURST HILL
all properties featured are exclusive to Lawlors
COOPERSALE STREET, EPPING
£750,000
Impressive double fronted detached Victorian house in this sought after location backing onto open farmland and situated within close proximity to Epping High Road. The property provides spacious living accommodation and has the benefit of a carriage driveway offering off street parking with the additional benefit of a detached garage. An internal viewing is strongly recommended to appreciate the substantial living accommodation. Property benefits include: downstairs cloakroom, study, dining room, lounge, kitchen, utility room, master bedroom with en suite bathroom, five further bedrooms, garage and rear garden.
£P.O.A
A substantial six/seven bedroom detached residence set on three floors and occupying an elevated position in a prestigious cul de sac location. This immaculately maintained Tudor style residence is discretely positioned on a most impressive plot with landscaped grounds extending to approximately 3/4 acre (unchecked), four reception rooms and a large kitchen/conservatory. The present owners have recently completed a thorough refurbishment programme including complete garden renovation by Crowthers nurseries. Property benefits include: play room, sitting room, family room, double cloaks cupboard, dining room, ground floor separate WC, kitchen/conservatory, utility room, laundry room, five bedrooms to the first floor, two with en-suite shower rooms and the master with an en-suite bathroom and a dressing room, first floor separate WC and a family bathroom, bedroom six with en-suite bathroom and bedroom seven/storage room to the loft conversion, attached garage, off street parking, purpose built garden room/gymnasium, landscaped rear garden measuring Approx 120ft x 155ft
www.lawlors.co.uk apr/may 05 inhouse
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Residential Homes
LAWLORS PROPERTY SERVICES
MANOR ROAD, CHIGWELL
£1,699,995
Substantial five bedroom detached Georgian-style family residence beautifully positioned on one of Chigwell's most prestigious locations Manor Road. The property offers many fine features including a kidney shaped swimming pool and has been maintained to a very high standard throughout. Lounge, dining/entertaining room, kitchen/breakfast room, utility room, TV/family room, study, cloakroom/WC, master bedroom with en-suite bathroom, bedroom two with en-suite shower room, family bathroom, rear garden in excess of 180ft, swimming pool, secure electronic gated drive & double width garage.
COURTLAND DRIVE, CHIGWELL
£POA
Five Bedroom Detached family residence situated on a prominent position on the ever-popular Courtland Drive, Chigwell. To the rear of the property there is an in excess of 100ft rear garden with swimming pool and gated carriage driveway to the front. Lounge, dining room, kitchen/breakfast room, utility room, family room, TV room, shower room/WC, master bedroom with dressing area and en-suite bathroom, two family bathrooms, swimming pool & landscaped rear garden
MANOR ROAD, CHIGWELL £2.15m Seven Bedroom Detached family residence backing Chigwell Golf Course on Manor Road, Chigwell. One of Chigwell's foremost homes, the property has far reaching views over Chigwell Golf Course and beyond and this particular property benefits from a 116ft frontage and a second staircase in the home gives access for someone who requires either living accommodation for family or a separate area for working from home. Reception hallway, lounge, dining room, kitchen/breakfast room, utility room, TV/family room, cloakroom/WC, master with en-suite bathroom, bedroom seven/snooker room, family bathroom, shower room, inner lobby, study, cloakroom, garaging, rear garden approx 150ft x 95ft.
t: 020 8281 0123 08
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Loughton, Chigwell and Woodford CHIGWELL OFFICE 116 High Road, Chigwell, Essex, IG7 5BJ t: 020 8281 0123 f: 020 8281 0222 e: property.chigwell@lawlors.co.uk
Our offices are closed on Sundays but to arrange viewings, you can call the following number: 07736 234422
REGENTS DRIVE, REPTON PARK
£1.1m
Six Bedroom Detached Executive residence which lies on the ever-popular Repton Park Development. Lounge, dining room, kitchen/breakfast room, utility room, master bedroom with ensuite dressing & bathroom, cloakroom/WC, bedroom two with en-suite bathroom, bedroom three with en-suite shower room, family bathroom, double garaging, landscaped rear garden & offstreet parking.
STRADBROKE DRIVE CHIGWELL
all properties featured are exclusive to Lawlors
BARTON FRIARS, CHIGWELL
£795,000
Unique Three Bedroom Courtyard Development known as Barton Friars which is ideally situated on the Courtlands Estate, Chigwell. The particular property afford a private setting in peaceful surrounds. Lounge, dining room, kitchen, formal dining room, utility room, cloakroom/WC, master bedroom with ensuite shower room & family bathroom.
£1.75m
Six Bedroom Detached family residence occupying a 90ft frontage on one of Chigwell's most premier roads, Stradbroke Drive. To compliment the 90ft frontage there is a carriage driveway and to the rear of the property there is a 125ft landscaped garden with swimming pool. This particular property has a number of poignant characteristics notably the wooden paneling on the ground floor and on the first floor there are six well-appointed bedrooms. Lounge, dining room, kitchen/breakfast room, 2 x cloakroom, TV/family room, master bedroom with en-suite bathroom, bedroom six/games room, family bathroom, carriage driveway, landscaped rear garden & swimming pool & two garages.
www.lawlors.co.uk apr/may 05 inhouse
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From Wanstead to Epping, we have it covered...
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LAWLORS P R O P E RT Y S E RV I C E S Although Lawlors Property Services has been in business for 16 years, Jim Lawlor has been actively working in the area since 1974, and is therefore well qualified to comment on the many changes that have affected the area. Jim says “It became apparent in the 1970’s that the
properties are shown. Virtual tours and floor plans were some of the latest editions to our marketing last year, and these have been welcomed by vendors and purchasers alike.
number of people wishing to buy their own home was growing year on year, and that demand centred around the areas emanating from the East End through to the end of the central line. This was principally because many people worked in the City or had businesses related to the East End of London and therefore it was essential that they found homes within easy access of their work. With the closure of the central line station at Ongar, this in effect meant that the commuter belt finished at Epping, and effectively trapped the wealth within this area. Part of our strategy at Lawlors was to ensure that our offices were best positioned to take advantage of this captured market, and therefore a conscious decision was made to open offices at Chigwell, Loughton and Woodford Green. With the advent of the internet our area of expertise is fast expanding, and we now find that we are called upon to find buyers for many Country properties outside the usual commuter belt.� Lawlors Property Services have always been a market leader in Estate Agency, welcoming and embracing technology as a useful tool from the start. Our three offices are linked by a server updating our offices every ten minutes, ensuring that if you register at one office your details are automatically transferred to the other two offices. Similarly, when a property is taken on at one branch it is available for our negotiators to show to a potential purchaser in the other two branches within minutes. Properties are also displayed on our screens in our front windows and, naturally, a substantial amount of our business is done by email via our web site where all our
Visit our website at:
www.lawlors.co.uk apr/may 05 inhouse
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Residential Homes
LAWLORS PROPERTY SERVICES
AURORA CRT, WOODFORD GREEN
£365,000
Overlooking Woodford Golf course is this spacious two bedroom first floor apartment which Lawlors Property Services are privileged to offer onto the market as the vendors favored agents. The current owners have spared no expense in maintaining the property and offers a well fitted kitchen with many fitted appliances, an en suite to the Master bedroom, lounge / dining room, secure underground parking and a sought after development.
CHESTNUT AVENUE, BUCKHURST HILL £310,000 Offered for sale is this recently refurbished three bedroom end of terrace property with attached garage. Property benefits include two good sized reception rooms, newly fitted kitchen, 80 ft rear garden, of street parking and attached garage.
WOODLAND WAY, WOODFORD GREEN £895,000 Situated on the prestigious Knighton Estate is this substantial four bedroom detached family residence on a commanding corner plot. With a wealth of original features harmoniously blended with modern additions. Benefits include three reception rooms, fitted kitchen and utility room, ground floor cloakroom and shower room. Four good sized bedrooms including en suite to the master bedroom. Externally there is a well proportioned rear garden with swimming pool, patio, lawned area and loggia.
HIGH ROAD, BUCKHURST HILL
£650,00
Set back from Buckhurst Hill High Road is this enchanting five bedroom detached property. Retaining its period charm yet coupling it with contemporary style and superior materials, this residence offers two reception rooms, garden room and further utility area, an en suite to the master bedroom, a further four double bedrooms and overlooking Knighton Woods to the rear. Property benefits include, lounge, dining room, garden room, kitchen, breakfast area, utility area, master bedroom with en suite, four further bedrooms, family bathroom, and front/side garden.
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£599,995
EPPING NEW ROAD, BUCKHURST HILL £750,000 Offered to the market is this delightful five bedroom detached Edwardian situated on the Epping New Road and having undergone considerable extension and refurbishment by the current owner and situated within easy access to Buckhust Hill central line station, fashionable boutiques and eateries. The property offers four well appointed reception rooms with a fabulous dining room to the heart of the property. Property benefits include cloakroom, lounge, dining room, utility room, office/study, kitchen/breakfast room, play room, master bedroom with en suite and four further bedrooms, family Bathroom, off street parking and good size rear garden.
PALMESTON ROAD, BUCKHURST HILL
£599,995
Situated within walking distance to Queens Road with its fashionable boutiques and eateries, we are delighted to offer this fabulous four bedroom double fronted detached family residence. Offering an abundance of living accommodation comprising of three reception rooms, cloak room, kitchen and utility room to the ground floor with four bedrooms and family bathroom to the first floor. Additional benefits include off street parking and easy access to Buckhurst Hill central line station.
t: 020 8506 0828 12
CROFTON GROVE, CHINGFORD
Offered to the market for only the first time since being purchased from new is this five bedroom executive style house with two en suite's, two receptions, kitchen/diner and a double garage occupying an enviable corner plot of this desirable development. The house is the largest on the development and has garden to three sides and off street parking. The house is offered with vacant possession and an internal inspection is recommended to appreciate the abundance of space on offer.
BROADFIELD WAY, BUCKHURST HILL
£629,995
Situated in the sought after location of Broadfield Way, we are pleased to offer to the market this Tudor style four bedroom detached family residence. Offering two reception rooms, four double bedrooms, a delightful rear garden, and all within access to Roding Valley central line station and local shopping facilities this truly is a property to be viewed at your earliest convenience. Property benefits include Lounge, dining room, kitchen / diner, cloakroom, Master Bedroom and three further bedrooms, family bathroom, shower room, rear garden 115ft approx, carriage driveway and integral garage.
Loughton, Chigwell and Woodford WOODFORD OFFICE 457 High Road, Woodford Green, Essex, IG8 0XE t: 020 8506 0828 f: 020 8506 9101 e: property.woodford@lawlors.co.uk
all properties featured are exclusive to Lawlors
Our offices are closed on Sundays but to arrange viewings, you can call the following number: 07736 234422
MANORWAY, WOODFORD GREEN
£409,995
Situated within easy access of Woodford station we are delighted to offer this exceptionally well presented five bedroom end of terrace property. The residence comprises of three well appointed reception rooms with a well fitted kitchen and Seperate utility room to the ground floor and five well proportioned bedrooms and family bathroom to the first floor. To the front of the property there is an abundance of parking as well as a detached garage to the rear of the garden.
WORCESTER CRES, WOODFORD GREEN
£499,995
Residing on one of Woodford Green's most sought after locations, we are delighted to offer this well presented three bedroom semi detached family home. The property offers two reception rooms, fitted kitchen and morning room to the ground floor with three bedrooms on of which has a additional room off which would make an ideal en suite (subject to planning consent) to the first floor. With internal garage and a pleasant rear garden this truly is a property not to be missed and we would strongly recommend an internal appointment to appreciated the accommodation on offer.
WHITEHALL ROAD, WOODFORD GREEN
£580,000
This charming five bedroom Victorian property benefits from its position close to Bancroft School, its wealth of character features and abundance of living accommodation and Lawlors Property Services delighted to offer it onto the market as the vendors sole agents. Providing three reception rooms, garden room, five bedrooms with one en suite, family bathroom, detached garage, cellar and a rear garden in excess of 100ft, this is a property that can meet the most demanding requirements. An internal inspection is without doubt the only way to fully appreciate the quality of property on offer.
OAK HILL GARDENS, WOODFORD GREEN £775,000
BERESFORD DRIVE, WOODFORD GREEN
Offered for sale is this outstanding five/six bedroom detached residence built on three plots by the original builder of Oak Hill Gardens built circa 1920. The property has been thoughtfully maintained by the current owners and every effort has been made to retain the property's charm and character. The property benefits include three reception rooms and fitted kitchen with utility room. To the first floor there are five bedrooms with an en suite bathroom to the master bedroom. The second floor offers an exceptionally large room which is currently being used as a design studio with a separate room which has been utilised as a dark room, there is also an outside terrace with splendid views over forest land.
An opportunity has arisen to purchase this stunning four bedroom detached residence situated in one of Woodford Greens most favourable locations. Having been meticulously maintained by the current owners and offering two reception rooms including a 35ft sitting room, fitted kitchen/breakfast room with granite worktops, separate utility room, and there are two bedrooms including en-suite facilities. Benefits include: Sitting room ,family Room, cloakroom/W.C, breakfast area, kitchen, master Bedroom with en-suite shower room, bedroom two with ensuite, two further bedrooms, family Bathroom, rear garden, detached garage and off Street Parking.
CAMPION GARDENS, HARTS GROVE
£680,000
Presenting to the market as the vendors exclusive agents this four bedroom detached residence in the sought after Harts Grove development .The property offers three well appointed reception rooms which are accessed off a splendid reception hall. The rear garden has been thoughtfully landscaped by the current owner with both adult and children's needs catered for, additional benefits include two en suite shower rooms and double detached garage.
£665,000
FOREST AVENUE, CHINGFORD £739,995 Lawlors Property Services are delighted to have been favoured as the vendors Sole agents, with the sale of this spacious, period family home, offering a host of features arranged over various levels. The property also boasts views over Chingford Golf course and is conveniently situated for easy access to Chingford mainline Station and the local amenities of Station Road.
FAIRLANDS AVENUE, BUCKHURST HILL
£485,000
Offered for sale as the vendors sole agents we are proud to present this fabulous four bedroom detached residence situated in the ever popular cul-de-sac of Fairlands Avenue in Buckhurst Hill. The property has been thoughtfully maintained by the current owners and offers a modern European living experience with terracotta tiled floors and hand painted walls. Property benefits include: cloakroom, lounge, dining room, kitchen, master bedroom with en-suite bathroom, three further bedrooms, family shower room, rear garden with summer house integral garage and off street parking.
www.lawlors.co.uk apr/may 05 inhouse
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Feature - Life
Have you made a Will? and when did you last make a Will? We say: “Remember, a person who dies without a Will has the Inland Revenue for heirs.” Did you know the number of people paying Inheritance Tax (IHT) has more than doubled since Labour took office in 1997? The main reason for this massive increase is house price inflation. Family living, in the affluent and leafy suburbs of Loughton, Chigwell, Buckhurst Hill or Woodford may not be as safe and secure as you once thought, especially if you’ve not got your financial affairs in order before you die. Simply put, a charge to IHT arises when someone dies or when assets are transferred to a discretionary trust or to a company. IHT will be payable if the estate on death or the value of the assets transferred is more than the IHT threshold. For 2005/06, the IHT threshold is £275,000. (For 2003/04 it was £255,000 and 2004/2005 it was £263,000). For most of us, our pride and joy is the house or flat we live in. We marvel at our wonderful investment and revel in the fact that it may be worth substantially more than the price we originally paid for it. Alas, there is also a sting in the tail. IHT is not a tax imposed just on the super rich but a tax that affects millions of hardworking ordinary people who have enjoyed the benefit of house price inflation especially in London and the South East. In the worst case scenario the family home may have to be sold to pay IHT. Consider for one moment the present value of your house and then consider the fact that IHT will bite at 40% above £275,000. (from 6th April 05) In addition to your lovely house you may also be fortunate to own substantial business assets, pensions, savings, foreign properties etc.. etc.. Your family may be facing a colossal IHT demand at the same time as coping with a sad and painful bereavement. As recently as 12 March 2005 , The Times quoted a somewhat frightening statistic “that perhaps only
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L to R: Robert and Daniel Laderman, partners
half of men and women aged 45 to 60 had made a will”. To mitigate or avoid IHT it is simply not good enough just to make a will but to make a tax efficient will. Daniel Laderman is a senior partner at Laderman & Co Solicitors and a member of STEP (Society of Trust and Estate Practitioners). “My firm specialises in estate tax planning pre death and post death. Over the last 8-9 years we have acted, post death, for a large number of clients paying far too much IHT to the Revenue. Had they sought advice at an earlier stage much of the IHT could have been mitigated or avoided by careful pre death tax planning. We have also had to deal with many families whose loved ones have died intestate (without making a will) in quite harrowing circumstances.” “Unfortunately, some clients simply bury their heads in the sand, thinking that making a will which properly puts their financial affairs in order is tempting fate, and likely to result in premature death. In reality the opposite holds true, as most clients tend to feel that a great weight has been lifted from their shoulders.” “Many clients don’t realise the value of their assets and the devastating consequences of IHT on their families. Wills should be regularly reviewed. People believe that because they made wills many years ago, their loved ones will automatically inherit their monies. They forget or perhaps ignore IHT at their peril. This can result, often unnecessarily in the payment of substantial IHT. Ideally, wills should be
reviewed every 2/3 years or as often as one’s financial circumstances change (perhaps through inheritance or a change in the law).” “More than ever there is now a need to take specialist advice as the Treasury tax take from IHT is set to rise substantially in the coming years. There appears no prospect of the Chancellor substantially increasing the IHT thresholds thus providing relief to homeowners in London and the Southeast of England. Indeed Gordon Brown recently announced in this years Budget that the IHT threshold will only increase to £285,000. for 2006/07 and £300,000. for 2007/08.” “The general public needs to be aware of IHT and how to save money on death duties”. “Despite the doom and gloom there are still effective ways to save IHT. Everyone and every family have differing financial circumstances so it is crucial to take appropriate advice from a properly qualified solicitor who specialises in the area of wills, trusts and estate planning. Where relevant, solicitors should liaise closely with accountants especially where business assets have to be taken into consideration.” “Increasingly we are working with overseas lawyers and accountants as many of our clients have homes, properties and business interests overseas and often in more than one country or jurisdiction. The IHT (or similar tax in other counties) considerations are often complex and far reaching“.
Laderman & Co, Solicitors of 4 The Shrubberies, George Lane London E18 1BD, have been in business for over 20 years. The firm specialises in all property commercial and business matters, wills probate and tax planning. Daniel Laderman LLB is also a member of STEP (Society of Trust & Estate Practitioners). For a free initial IHT consultation (limited offer, subject to availability) and to make an appointment please contact Daniel Laderman on 020 8530 7319 or by email to mail@laderman.co.uk
“My top IHT tax tips are as follows:• Don’t leave it too late. Take proper advice as soon as possible. Make a will. • Consider a Discretionary Will Trust. How do you own your home? Most married couples own their property as “joint tenants” meaning that when the first one dies, his or her share passes automatically to the survivor. Gifts between spouses are IHT exempt so there is no IHT. Although there is no IHT payable on the first death when the surviving spouse dies the whole property and other assets forms part of their estate for IHT purposes and a tax liability may arise. By utilising a Discretionary Will Trust (sometimes referred to as a “nil rate band loan trust”) and holding the home as “tenants in common” (as opposed to “joint tenants”) substantial IHT can be saved. • If someone has already died consider a little known loophole in the law, the “Deed of Variation”. It may be possible to alter the terms of a will (with the consent of the beneficiaries) up to 2 years after a person has died. Some executors, beneficiaries and their legal advisers are unaware of this loophole with the result that IHT is paid unnecessarily. • Same sex couples entering into civil partnerships should take advice regarding the Civil Partnership Act which is to come into force in December 2005. Same sex couples will soon benefit from a range of tax breaks (including IHT) previously available only to married couples. • Always take proper advice, consider effective life time giving, other forms of trust, holding certain assets apart from your house in joint names and charitable gifts.”
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Residential Homes
LAWLORS PROPERTY SERVICES
THE CROFT, LOUGHTON £239,000 An opportunity to purchase this loft style apartment of new build construction. The property will be finished to an excellent standard yet your are able to personalise the apartment to your specifications. Property benefits include: kitchen, lounge, master bedroom with en suite, a further bedroom and two allocated parking spaces.
CENTRE DRIVE, EPPING
HANBURY PARK, LOUGHTON £409,995 Offering to the market this immaculate four bedroom detached family residence on the Hanbury Park development. Boasting two good size reception rooms, en suite to the master bedroom and within walking distance to all local amenities this is a property destined not to remain on the market long. A viewing is highly recommended to appreciate the quality of the accommodation on offer. Property benefits include: lounge, dining room, downstairs cloakroom, kitchen, utility room, master bedroom with en-suite shower room, three further bedrooms, family bathroom, front & rear gardens, off street parking and an integral garage.
HIGH BEECH ROAD, LOUGHTON
£585,000
We are delighted to be able to offer this Edwardian character four bedroom detached residence located just off the High Road in Loughton and consequently easily accessible for the shopping facilities of the High Road and Central Line. The property has been excellently maintained by the current vendors. Property benefits include: sitting room, downstairs cloakroom/shower room, kitchen, dining room, family room, four bedrooms, family bathroom, front & rear garden, off street parking and a detached double garage.
£459,995
Lawlors Property Services are pleased to offer this recently refurbished three bedroom bungalow within close proximity to the station and local amenities. To fully appreciate the fixtures and fittings of the property a viewing is a must. The property is offered CHAIN FREE. Property benefits include: kitchen, lounge/dining room, family bathroom, master bedroom with en suite shower room, two further bedrooms, rear garden and off street parking.
RIPLEY VIEW, LOUGHTON
inhouse apr/may 05
£379,995
RUSSELL ROAD, BUCKHURST HILL £435,000 Offering to the market this well appointed four bedroom family residence which has been set over multiple floors. The property is situated within close proximity to Queens Road shopping facilities and eateries as well as Buckhurst Hill central line station. Property benefits include: Study, utility room, separate w.c, kitchen, dining room, lounge, bedroom four, bedroom three, family bathroom, bedroom two, master bedroom, en suite shower, attached garage, off street parking for numerous vehicles and rear garden.
£575,000
Lawlors Property Services are delighted to offer onto the market this three/four bedroomed detached chalet style bungalow. Boasting a wealth of living accommodation on the ground floor, fantastic location and the added benefit of an outdoor swimming pool we highly recommend an internal inspection to fully appreciate the accommodation on offer. Property benefits include: lounge, dining room, kitchen, cloakroom, master bedroom with en-suite bathroom, three further bedrooms, family bathroom, front and rear gardens, garage and carport.
t: 020 8502 5588 16
LOUGHTON WAY, BUCKHURST HILL
Superbly positioned for both Loughton and Buckhurst Hill mainline train stations as well as being close to all other local amenities we have the pleasure in offering to the market this fantastic three bedroomed semi detached family home. Offering well proportioned rooms and a high quality finish throughout this is a property destined not to remain on the market for long so an early inspection is advised. Property benefits include: utility room, cloakroom, lounge, dining room, kitchen, master bedroom, two further bedrooms, family bathroom, rear garden and off street parking.
GREAT WOODCOTE PARK, LOUGHTON
£685,000
Forming part of the prestigious gated development of 'Great Woodcote Park' is this four bedroom detached residence offering exceptional views over the fountains. The property hosts a well maintained fitted kitchen with integrated appliances, en-suite bathroom to the master bedroom, approx 60ft rear garden and a double detached garage. Property benefits include: cloakroom, study, kitchen/breakfast room, dining room, lounge, master bedroom with en suite bathroom, three further bedrooms, family bathroom, rear garden and double detached garage.
Loughton, Chigwell and Woodford
all properties featured are exclusive to Lawlors
CANTERBURY CLOSE, CHIGWELL
£575,000
Five Bedroom Detached family home situated in a cul-de-sac location off Manor Road, Chigwell. This particular property has an ideal opportunity to extend, subject to the normal planning permissions. Lounge, conservatory, kitchen/breakfast room, utility room, dining room, study, cloakroom/WC, master bedroom suite with dressing room & en-suite bathroom, bedroom two with en-suite shower room, integral garaging, landscaped rear garden & off street parking.
DOLPHIN COURT, CHIGWELL £699,995 Four bedroom, first floor apartment situated in Dolphin Court lying opposite Brook Parade on High Road, Chigwell. Lounge, balcony, dining room, kitchen/breakfast room, master bedroom with en suite dressing room & bathroom, family bathroom, separate WC/cloakroom, two underground parking spaces, landscaped communal gardens & video entryphone.
LYNDHURST RISE, CHIGWELL £549,995 Four Bedroom Semi-Detached Tudor-style family residence situated in Lyndhurst Rise just off Chigwell Park Drive. The property is well-appointed throughout having good sized family accommodation on the ground floor, four well proportioned bedrooms on the first floor and fully refurbished family bathroom. Cloakroom/WC, lounge/diner, kitchen/breakfast room, TV/family room, utility room, family bathroom, off-street parking, landscaped rear garden & single garage.
OSBOURNE HOUSE, REPTON PARK £399,995 Two bedroom ground floor apartment which boasts many original features including, ornate cornicing, high ceilings, high skirting, 20ft hallway and a private patio with south facing views over the communal grounds. Property benefits include: sitting room, fitted kitchen, master bedroom, with en suite shower room, family bathroom, two allocated parking spaces.
LYNDHURST RISE, CHIGWELL £650,000 Presenting this Four Bedroom spacious Detached family abode, located on the ever-popular and commanding Chigwell Park Estate. Cloakroom/WC, lounge, dining room, sun lounge, kitchen, TV/family room, double width garage, master bedroom with ensuite bathroom, family bathroom, off-street parking for two vehicles, planning permission granted for front projection and side elevation.
WENTWORTH HOUSE, REPTON PARK £249,995
One Bedroom, Ground Floor Apartment in a Grade II Listed conversion benefiting from a mezzanine floor (currently used as a study), high ceilings, one allocated parking space, private patio and 24hr concierge service. Lounge, kitchen, bathroom, master bedroom.
ST MARYS WAY, CHIGWELL £420,000 Beautifully presented Four Bedroom Detached property located in this peaceful turning, within Chigwell. The property benefits a garage and allows off-street parking. Internal viewing highly recommended. Cloakroom/WC, lounge, dining room, kitchen/breakfast, master bedroom with en-suite shower room, single garage & off-street parking.
TUDOR CLOSE, CHIGWELL
£595,000
AgentsFour Bedroom Semi-Detached property situated in one of Chigwell Park's popular turnings, and is located within easy reach of West Hatch High School. The property has been extended to the rear and, in our opinion, has been maintained to an excellent standard throughout. Lounge, fitted kitchen, morning room, cloakroom/WC, master bedroom with en-suite bathroom, family bathroom, rear garden, single garage, off street parking & planning permission to further extend rear of property.
t: 020 8281 0123 apr/may 05 inhouse
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Feature - Money
Playing the Markets…
Paul Kavanagh - Director of Market Strategy, Partner
‘Plummeting stock markets; ‘Accounting Irregularities’, ‘Pension Scandals’, ‘Executive Fraud’ are just some of the headlines we have heard on the national news and in our daily papers over the past few years, says Paul Kavanagh of Killik & Co.
Adding to the woe of stock market investors is that if we were to analyze the way investors save (investments, cash, bonds and property), shares are the one asset class that you would have lost money on over the past five years. No wonder therefore that private investors have in the main stayed away from the financial markets preferring to keep savings in cash or to invest in a conservatory or extension for the house. The headline that not been written recently is that the stock market is bouncing back. This is despite the fact that certain aspects of the economy are beginning to struggle. Just ask members of the local retail community how they see the current environment and I am sure they will confirm how tough it has become. Even the billionaire Philip Green must be thankful that his takeover bid for Marks & Spencer proved unsuccessful last year because their profits are coming down. So if life is difficult on the high street, where is this cause for optimism in the stock market coming from. Interestingly, it is not necessarily coming from some of our largest companies despite news that the banks, for example, are making record profits. It is true that our biggest companies are doing well but generally operations are spread around the world. BP for example has massive operations in the US so the weakness of the dollar over the past year has been very unhelpful. They are now turning to Russia and Asia for their growth as the Western world matures. Cadbury’s, the confectionary group, has also been hit by the dollar but the main problem has been the sharp increase in raw material prices like sugar and cocoa. No surprise then that sugar supplier Tate & Lyle has been one of the best performers of late; Cadbury’s less so. Mature economies are becoming more competitive and profit margins are being squeezed. The net result is the largest companies are in the main are seeing their share prices well below the levels reached in
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1999 and for money invested then, the haul back to break even remains as elusive as ever. So what trends would I be following in trying to make money in these difficult markets? Firstly, it is important to recognize that over the next twenty years, we will have another locomotive of world economic growth alongside the US and that is China. The impact here should not be underestimated. Like the turn of the 19th century with the industrialization of the US, China’s impact on world trade will be huge – both positively and negatively. Take oil for example; the world has been trundling along for 20 years or so consuming 75-80 million barrels of oil per day. Yes there has been more demand over that time but motor engines are more fuel efficient and per head, the US population consumes less than it did 20 years ago. Over the next 15 years though, primarily driven by China growth, this consumption will grow by an anticipated 25% to 100 million barrels and given we have broadly assumed to have extracted half the world’s oil in place, finding oil will become more difficult. In our opinion there is only one place the price is going and that is up. Transport costs will rise and consumers will have to be factoring this into their budgets in years to come. Note that British Airways recently raised their fuel surcharge for airline tickets. It is not only energy that is rising. Raw materials are rising too. Steel manufacture has jumped sharply as the global growth story resumes its upward trend and China again is consuming as much as it can. Steel mills need coal to create the heat – not just any coal but good quality high coking coal. Last year, they would have paid $60-70 a tonne but now the agreed price is around $125 and that is if they can get it. Australia provides around two thirds of this stuff but the main problem is finding a port that can cope with additional capacity for export. If money were no object, there would be two things I would own – a port in Australia and a car park in Loughton, Essex!
So finally, where do we see the investment market for the next year? We know for example that the once feared global recession of 2000-2002 did not really materialize. The US economy is once again growing at a useful 3-4% with the UK not far behind. As a result, the interest rate (particularly in the States but also in the UK) cycle is back on the up turn with latest thoughts being that we have not seen the top yet. As a result, cash savers will be happy but mortgage holders less so and therefore this will impact on the residential market to some extent. Investors in bonds will need to consider exposure carefully as long term interest rates tend to move up (resulting in the corresponding loss of capital value). Commercial property (factories, buildings) have proved a very strong market of late and therefore it is difficult finding value. The bottom line is that finding value at present in the face of rising interest rates is difficult. And that leads us back to the stock market. In the face of other asset classes, it should well. Companies (profitable ones at least) pay dividends and for the individual, these dividends are treated as having been subject to a basic rate of tax paid. Income on the big companies is therefore on average over 3% net and importantly is growing. But theme selection is key. I would avoid exposure to companies that are exposed to consumer spending (other than debt service operations that help in the event of default) and this includes retail banks and shops. I would favour companies exposed the upward trends described above.
KILLIK & CO is an independent firm offering stockbroking services in addition to asset management and financial planning advice. Our brokers build long-standing relationships with our clients based on integrity, trust and accessibility. We welcome all types of investor and have no minimum portfolio requirement.
property marketanalysis Now that those long dark winter evenings have drawn to a close and we enjoy the start of spring it’s a good time to check the pulse of the local property market. The first quarter of this year has generally been anything but exciting and, in fact, most of the time it has been as grey as our wintry weather. The exception has been the top end of the market, which has continued to thrive, and we have already exchanged contacts on several properties in excess of £1million, the largest achieving a price in the region of £4 million. However, there is no doubt that there is now an underlying strength in the whole market which we anticipate will develop further as the spring weather arrives, especially as we still have low interest rates, historically low un-employment and inflation within the Bank of England’s objectives. According to reports from our three branches based in Chigwell, Loughton and Woodford Green, activity from purchasers has been very strong and encouraging since January, with high levels of prospective purchasers registering. But there have been more viewings-perproperty before a decision is made, showing a reluctance to commit as quickly as last year, which in turn means that chains are not being connected as quickly as last year and therefore the whole business of moving becomes protracted. This creates an interesting dilemma – What should a purchaser do first - find a property to move to or put their existing property on the market? There really is only one sensible answer. It is vital that you find out about the value of your own property before you look elsewhere. Fortunately there are now a number of ways of doing this, even before you consult us for a professional assessment and marketing plan. This is the time to do some research and go on-line!
inconfidence If you have a property related question you would like answered in next month’s edition of inhouse please send it to “inconfidence”, Lawlors Property Services, 165 High Road, Loughton, Essex, IG10 4LF
Q
I KNOW THAT LAWLORS HAVE AN EXCELLENT REPUTATION IN RESIDENTIAL SALES AND LETTINGS, BUT DO YOU EVER HANDLE ENQUIRIES FOR COMMERCIAL PROPERTY?
A
There are occasions when our clients ask us to handle the sale of a freehold shop or to let their commercial property, and we are now looking to expand our area of expertise. Meantime we do have some commercial opportunities available. At present a client has asked us to find a suitable Company to take 6,000 square foot of prime offices in the local area close to all amenities. All enquiries should go in the first instance to james@lawlors.co.uk
Q A
I WANT TO BUILD MY OWN HOME, BUT ALL THE GOOD PLOTS SEEM TO GO TO DEVELOPERS. WHY IS THAT?
Q
HOW DO I MAKE SURE THAT I HEAR ABOUT THE LATEST PROPERTIES AVAILABLE AND GET TO THE TOP OF THE LIST?
A
At Lawlors we do our best to ensure that all our applicants are advised of fresh instructions as soon as they come onto the market. However there are a few simple ways to ensure that you are given priority. First - ensure that you book mark our website at www.lawlors.co.uk and go on line at least twice each day. We update our system every ten minutes from our three offices, so new properties are being listed continuously. Second - make sure that when you contact us you give us all your contact numbers and your e-mail address, so that we have every opportunity of making contact with you when the right house comes on to the market. Our negotiators are very easy to communicate with, and once we are aware of your ability to purchase you can rest assured that you will receive immediate attention.
Up until now the price you paid for your property was between you, your agent and your solicitor; certainly not your neighbours. But in recent months a plethora of new websites have sprung up designed to break down the walls of secrecy regarding house values. www.ourproperty.co.uk is in our opinion the best – it offers house prices achieved for the last five years and is free to use once you have registered, although you are limited to 20 searches per week! www.myhouseprice.com charges £2 per property and www.landregisteronline.gov.uk charges £2 per property price but can also supply you with a plan of the property for a further fee of £2. This means you can generally assess comparable properties in your own street as well as do research on locations where you would like to buy. Armed with this information and with the guidance of our expert negotiators we can effectively help you make a balanced judgment to speed up your buying process. We firmly believe that this open and transparent source of valuation information will be a vital ingredient in helping stabilise house prices, and therefore keep the property market moving in a more predictable fashion. On our website www.lawlors.co.uk we believe we have the best selection of well presented, quality property in all price ranges in the local area. Our virtual tours will enable you to have a “real life” view of the properties and since the introduction of this feature last year both vendors and prospective purchasers alike have benefited. We truly believe our marketing is second to none. For a professional appraisal and marketing plan for your property please contact your nearest Lawlors office.
It is true that our area attracts a large number of professional house builders, as well as a considerable number of individual, specialist builders all seeking the same thing - the perfect plot at a good price! Because our area is so sought after demand is high, and therefore many sites go to developers who are not dependent on the sale of their own property and can therefore move very quickly. We do, however, have an excellent plot for sale which may suit an individual purchaser in the Loughton area. At present the site has a substantial bungalow on it, but because of its location it provides an excellent opportunity for redevelopment. The guide price is £625,000, although the potential value once a new house has been constructed on this site would be nearer £1.2 million, subject to planning consent.
apr/may 05 inhouse
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LOUGHTON OFFICE
CHIGWELL OFFICE
WOODFORD OFFICE
165 High Road, Loughton, Essex, IG10 4LF t: 020 8502 5588 f: 020 8502 5802 e: property.loughton@lawlors.co.uk
116 High Road, Chigwell, Essex, IG7 5BJ t: 020 8581 0123 f: 020 8281 0222 e: property.chigwell@lawlors.co.uk
457 High Road, Woodford Green, Essex, IG8 0XE t: 020 8506 0828 f: 020 8506 9101 e: property.woodford@lawlors.co.uk
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LAWLORS PROPERTY SERVICES