With the arrival of sub 4% mortgage deals, banks are attempting to outdo each other by setting headline-grabbing rates. And with better deals on the horizon, with lower rates for those with smaller deposits, homemovers are starting to make a move.

Your property’s value will increase
As interest rates lower, demand for your home increases. Your home has become more affordable to buyers who need a mortgage to purchase it. A rejuvenated property market, which is enduring a shortage of homes, means your property's value increases. But as prices rise, you may have to borrow more, so it could be worth making an early move to get ahead of buyers returning to the market.

A quicker sale
With more buyers returning to the market, you are more likely to achieve a quicker sale. Let’s be honest: once you have decided to move and have found the right home, you want the entire process over and done quickly. Better mortgage deals mean more buyers are in a position to move. This also applies down the chain, meaning you are less likely to encounter delays.

An increase in certainty
The UK property market performed far better than many expected in 2023. In the aftermath of so many interest rate increases, the steadying of the base rate towards the end of last year came as a big relief to many homeowners and homemovers. Lowering interest rates and a positive outlook for the year ahead mean you can feel more confident as confidence in the market increases.

Lower mortgage payments and faster equity growth
Lower rates mean lower mortgage payments, with more of your payment contributing to the outstanding balance of your mortgage. This means you can build up equity far quicker. If you are planning on moving to your forever home in a few years, lower rates mean that you can move up the ladder more quickly. Financing home improvements also becomes more affordable.

There are other ways to save
Moving to a better home and making good investments has a hugely positive impact on your life. There are plenty of ways to make moving a viable financial option to counter slightly higher interest rates. If you can save on your commute, enjoy greater energy efficiency, have a better work-from-home space, and make your family happier, you will save money.

Your property story can begin
Are you a first-time buyer, downsizing, planning on retiring to a holiday home, or want to boost your pension while living in a more compact, energy-efficient property? Perhaps you love restoring and improving properties, like living in them for a few years, then moving on to the next project. Maybe you could be a fully-fledged buy-to-let investor?

 

Become the author of your moving success story by contacting us

 

With a greater sense of optimism in the air, lowering mortgage rates, and a compelling choice of properties to entice you, the UK property market is feeling good. A new year always brings new trends, fresh ways of buying, interesting properties, and a fresh influx of homemovers. Now is a good time to open your mind to the endless possibilities.

Mortgage rates are falling below 4%
With sub 4% mortgage rates making a welcome appearance on the mortgage market, homemovers are excited and relieved. For many years, mortgage rates were unrealistically low, and this has created the perception that today’s rates are higher than they actually are. Mortgage rates will not in the foreseeable future return to super-low levels, and those who know this are making their moves and getting increasingly better deals. After all, you can always change your mortgage deal in a couple of years.

Homes finding new owners
More buyers means more sellers, and all bring their properties to the market at some point, for you to buy, or for them to buy yours. This hive of activity keeps the market buoyant at this time of year. Spring is just around the corner, and this is often one of the best times of the year to move thanks to longer days, and warming weather to enjoy viewings. If you decide to join the party, your agent’s database will be teeming with homemovers and may already contain the right buyer for your home.

New trends
Create your perfect work-from-home space by selling up and moving to your dream location. Making the most of your home’s equity by purchasing a buy-to-let investment or holiday let is still a very appealing option. First-time buyers can spend up to £600,000 with a 5% deposit thanks to the Mortgage Guarantee Scheme, which has been extended until June 2025. Sustainability, energy efficiency, compact living, and smart technology are also growing in popularity.

A settling market
If you are a buyer, better mortgage deals and solid pricing that represent good value put you in a good position to move, thanks to a slowdown in house price inflation in 2023. You will get a good price for your home if you are selling, and you will enjoy good value if you are buying. These are ideal conditions for finding a great property and settling down. When the property market feels calm, it makes for a more pleasant moving experience. With good guidance from an experienced agent, moving home does not have to be a stressful experience.

Inspirational properties
Sustainability and energy efficiency are blended with fun and functionality, defining your spaces but allowing them to feel connected. The growth of smart homes and smart energy, fitted with smart appliances, promises to make your life easier. Features such as glass roofs and glass-door walls, with modern, clean designs leading to homely outdoor garden spaces, even in compact homes, make for inspirational viewings. Architectural styles from every era offer space with style and a sense of timelessness with modernity in magical settings.

 

Get in touch to take a fresh approach to your new home search this February

 

Whether it's freezing cold or scorching hot outside, adequate insulation is essential for maintaining comfort inside your home while keeping energy bills to a minimum. Let's look at the impact of insulation, how you can insulate your home, and how it helps lower your energy expenditure.

The importance of good insulation
Insulation plays a crucial role in maintaining energy efficiency and keeping warmth inside your home by reducing the exchange of heat between the outside and inside of your home. Good insulation helps to keep your home at a consistent temperature, preventing it from becoming too hot in the summer or too cold in the winter.

It also has other benefits, such as soundproofing your home and reducing the amount of moisture in your home to prevent damp.

The impacts of poor insulation
Inadequate levels of insulation can have a hugely detrimental impact on your home, as it can lead to unwanted temperature exchange through your walls, flooring, and roofing. It can cause inconsistent temperatures throughout different areas of your home, making it difficult to keep your home at a desirable overall temperature.

Poor insulation can also contribute to the growth of mould and mildew through a build-up of moisture, which could pose potential health risks to you and your loved ones.

Different ways to insulate your home

Draught-proofing
Blocking unwanted gaps around windows, doors, and floors can help keep the cold air out and the warm air in. Placing draught excluders against your doors and using sealant or filler to remove any gaps in walls and windows are good ways of preventing cold draughts rushing through your home.

Roof and loft insulation
The cheapest and easiest way of insulating your home is by installing loft insulation, which acts as a barrier to reduce heat loss by trapping air within layers of high-quality material such as mineral wool. According to the Energy Saving Trust, you could save between £260 and £475 a year by installing mineral wool insulation at a thickness of 270mm, depending on the type of property you live in.*

Underfloor insulation
Floor insulation forms a barrier that protects your home from the circulation of air beneath your property. This type of insulation is particularly effective in older homes that have suspended timber floors, compared to the concrete flooring commonly used in newer properties. Underfloor insulation can save you between £75 and £195 annually.*

Cavity wall insulation
The vast majority of homes built in the past 100 years have cavity walls, which are insulated by sealing the space between the inner and outer walls with cement. This type of insulation can save you somewhere between £145 and £520 per year.*

Impact on a home’s energy rating
Good insulation can make a huge difference on your home’s energy rating, as it acts as a thermal barrier to regulate heat transfer between the interior and the external environment, therefore reducing the demand for heating and cooling systems. By preventing draughts and keeping warm air inside your property, insulation helps to keep heating costs down in the cold winter months.

It is also useful for warmer climates, as it reduces the amount of energy needed to cool your home and keep it at a consistent temperature.

A home’s energy rating and insulation will be taken into account when a surveyor calculates the value of your property. Therefore, if you’re looking to sell your home, good insulation can help you achieve a higher sale price.

The Great British Insulation Scheme (GBIS)
Cavity wall, loft, and roof insulation are all available under the Great British Insulation Scheme (GBIS). To qualify for the scheme, your property must be in council tax categories A-D in England or A-E in Scotland and Wales and have an Energy Performance Certificate rating of D or lower.

Your local estate agent will be able to check your eligibility for the scheme and help you with your application.

 

Contact us today if you’re looking to move to a more energy-efficient home

Energy Saving Trust*

 

Whether you’re on the market for your first home, or looking for an investment property, one of the key things to consider is: how much work are you willing to put in once you’ve been handed the keys?

If you’re on the fence between buying a fixer-upper or a move-in ready home, here are some pros and cons for both:

Fixer-uppers
A ‘fixer-upper’ is a property which requires thorough renovation and repairs before it can become a comfortable living space. Because of this, fixer-upper homes are generally sold for a much lower market value than homes which are ready to live in.

This type of home may be an ideal purchase for a first-time buyer or an investor, as they may be able to make a substantial profit by renovating and reselling.

Pros

• Lower upfront costs: Fixer-uppers can command much lower asking prices than similar homes that are move-in ready. Those selling fixer-upper homes usually wish to achieve a fast sale, so you might be able to snag a good deal if you get your offer in quickly.
• Personalisation and customisation: For some, the allure of a fixer-upper comes from the ability to use the home like a blank canvas and customise it to their exact liking.
• Adding value: Transforming a fixer-upper is a great way to achieve a return on investment, as there is plenty of scope to add substantial value to the property. From replacing outdated features to improving the home’s aesthetics, you can potentially profit from a fixer-upper home when the time comes to sell.

Cons

• Time: Time is our most valuable commodity, and renovating a home requires a lot of it. If you’re hoping to move in and get settled down quickly, a fixer-upper might not be for you.
• Costs: While the initial savings can be enticing, remodelling a home might cost you more than you expected. Even if you have budgeted thoroughly, there may be some costs for repairs which you hadn’t planned for. It’s important to carefully consider your financial standing before investing in a home which needs serious restoration work.

Move-in ready homes
‘Move-in ready’ is a broad term as it can cover many degrees of readiness. But fundamentally, a move-in ready home requires little to no maintenance or repair before its next owners can move in. The homes have plenty of appeal, as they may have been recently renovated, and buyers may be able to unload their furniture and get settled in right away.

Pros

• Convenience: One of the key advantages of move-in ready homes is the convenience they offer. Buyers can save time and effort as they don't need to deal with extensive renovations or repairs before moving in. This is particularly appealing to those with busy schedules or those who want to start enjoying their new home immediately.
• Cost savings: While move-in ready homes may have a higher upfront cost, they can often save buyers money in the long run. The expenses associated with immediate repairs or renovations are avoided, preventing unexpected financial burdens.
• Faster occupancy: The name itself implies that these homes are ready for move-in day. This can be advantageous for those who need to move quickly, whether due to job relocation or other personal circumstances.

Cons

• Higher initial costs: Move-in ready homes often come with a higher price tag compared to fixer-upper properties. Buyers may pay a premium for the convenience of not having to invest time and money into renovations. This can limit the options available for those on a tight budget or looking for more affordable housing solutions.
• Limited customisation: While move-in ready homes may be aesthetically pleasing, they often lack the level of customisation that some buyers desire. Some may find these homes restrictive, as major renovations may not be necessary but are also not easily accommodated.
• Potential overlooked issues: Even though a home is labelled as move-in ready, there's still a risk of overlooked issues. Buyers should conduct thorough inspections, as cosmetic upgrades might mask underlying problems. When house-hunting, it's important to ensure that the home is not just visually appealing but structurally sound to avoid unexpected maintenance costs down the line.

Whether you’re looking for an investment property or your dream home, contact our expert team today