Wednesday 30 January 2019

How to Get a Good Broadband Deal for your Home

January 22nd, 2019 HIP-Consultant.co.uk Posted in BroadbandProperty MarketTop Tips |No Comments »

It is extraordinary how swiftly having an efficient broadband service has become a key lifestyle requirement.  As our homes acquire more and more smart devices and our work and leisure activities become increasingly internet dependant, a fast, data generous broadband service has become an essential component of modern life.  Our reliance on broadband will only increase as more and more smart devices become available and yet, according to Ofcom, ‘One in seven homes could be paying more than they need to for broadband and could get faster services for the same or less money.’

So, what constitutes good broadband?  Most of us have experienced the grinding frustration of a slow internet connection, it wastes time and it puts you in a bad mood.  If you use the internet to work from home, a slow connection is likely to drive you to distraction and cost you time and money.  Ideally you want fibre broadband speed of over 17 Mbps but of course you can only get the speed available in your area.  Openreach spokesperson, Katie Milligan says that many people are failing to secure the best broadband: ‘More than 17 million homes and businesses could order a better service over our network today but haven’t yet.  That means they’re missing out on more reliable connections that would allow them to work from home more effectively, access entertainment and use multiple smart devices around the house, all at the same time and without interruption.’
broadband connection
If you use a smart HDTV, enjoy online gaming, use Skype or Facetime, run multiple devices or do a lot of uploading or downloading, then you will need a broadband package which gives you unlimited data.  Be aware that even with an unlimited package you might still find that there are constraints on your data usage. If your provider has a ‘fair usage policy’, you may be subject to data constraints.  Up to fifty consumers could be sharing the same internet line and unusually heavy usage by an individual household could slow the service for everyone. Your provider will tell you if your data consumption is excessive and if you fail to reduce consumption, they will reduce your internet speed at peak times or even terminate your connection.    If you anticipate high levels of data consumption in your home, it is important that you understand the terms of your provider’s ‘fair usage policy’ or you opt for a provider with which there are no restrictions.
When researching a broadband provider, it’s worth thinking not just about your current requirements but also about what you might need in the future.  In December 2018 Ofcom launched their ‘Boost Your Broadband’ website which enables you to check the broadband available in your area, decide what sort of provision you need and gives you a list of key questions to ask your provider to help you secure the best deal.  In the future, Ofcom intends to compel broadband providers to inform customers, annually, of the best deal available and say that they will investigate why some customers end up paying more for the same service.
There are a number of comparison websites which you can use in order to reach a decision about the best deal for you, but you need to research carefully because the variety of packages on offer can be bewildering.  Combined packages of landline and broadband can often work out cheaper than stand-alone broadband deals, even though you may feel that you have no particular use for a landline.  Pay very close attention to attractive introductory offers designed to lure in customers, make sure that you are clear about what you will be paying when the offer ends.  Though your broadband package may seem attractively inexpensive, ensure that there are no expensive surprises in the form of line rental, set up fees or connection charges.
In an age of cyber dominance, it may seem strange that one of the best ways to get a good broadband deal for your home is to deploy that good old- fashioned art of haggling.  Ofcom’s findings suggest that on average, customers who negotiated with their provider, saved £120 per year and that 89% were offered a new deal.  If you are not getting anywhere negotiating with your current provider, ask to be put through to the cancellation department and they will almost certainly put you through to a retentions department with whom you should be able to get a better deal.  Package details can become very complicated so make sure that the new provision that you are being offered is actually a discount on what you are currently paying.

Thursday 17 January 2019

TENANTS RENTAL PAYMENT AND CREDIT SCORES

Tenants Rental Payment and Credit Scores





One of the big complaints of tenants is that their credit score is not improved by all the rental payments they make says David Lawrenson of www.LettingFocus.com. However, this is about to change.
Both private renters and social housing tenants can now opt in to the new, free “Rental Exchange Initiative” which will record rental payments on their Experian credit file.
Apparently, the scheme has actually been running in the background (for those who’ve already signed up) for more than two years with an estimated 1.2 million renters’ payments recorded. From now though, those payments will become visible in people’s files. New joiners will be added as they join up.
As landlords get access to this information too, this could make it easier for those who pay their rent on time to rent properties from you.
The estimate from Experian is that around 80% of tenants already signed up will see a noticeable improvement in their credit score.

Tenants Rental Payment and Credit Scores – The Rental Exchange



The Rental Exchange scheme was launched by credit reference agency, Experian together with The Big Issue Group in March 2016 as a way of allowing tenants to build up a credit history and improve credit ratings by paying their rent on time each month.
Rental payment history is used in the same way as mortgage payment data, so for those signed up, their payments will be recorded and added to their credit file.
Before Rental Exchange started, renters were unable to show they could meet regular payments. This was especially so for those who didn’t already have any other credit product.
Already, more than 150 social housing providers, local authorities and letting agents are reporting data into the Rental Exchange scheme. For tenants that rent from private landlords, they may ask you to join the scheme.
Experian is the only credit agency to record rental payments so far. Equifax and Callcredit don’t currently take them into account.

Tenants Rental Payment and Credit Scores – Why does it matter?



Making payments on time (which 98% of private tenants do, according to Experian) could see tenants’ credit history improve, therefore making it easier to prove identity and apply for credit products and indeed, to rent other properties.
Landlords will welcome this as a useful tool to better gauge a tenant applicant.

ABOUT LETTINGFOCUS



Services for Private Landlords
We help landlords and property investors by showing them how to make money in the private rented sector using ways which are fair to tenants and which involve minimal risk. Our advice is completely independent. We take don’t commission payments or fees from anyone, ever.
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We advise a range of organisations too to help them develop and improve their services and products for private landlords. David Lawrenson, founder of LettingFocus, also writes for property portals, speaks at property events and is regularly quoted by the media.http://www.lettingfocus.com/blogs/2018/11/tenants-rental-payment-and-credit-scores/







Monday 14 January 2019

Housing forecast 2019:London house prices, Brexit and beyond — the lowdown on this year's property market



    It's not just about Brexit. London has experienced the most disrupted 10-year property cycle on record. We look into the factors that will affect the property market in 2019 and beyond.
    The only certainty about the London housing market, it seems, is that the first three months of this year are going to be bleak. 
    Property industry experts are forecasting a muted first quarter in the build-up to Britain's official withdrawal from the European Union at midnight on March 29 as vendors hold back, hoping to achieve a higher price later in the year after Brexit chaos has subsided. 
    Meanwhile, aware of the growing unease, buyers will be holding out for big price reductions. "Death, divorce and debt will drive supply but buyers will only commit for a significant bargain,” says buying agent Henry Pryor.
    “Even as March comes and goes there will still be at least a two-year period of renegotiating trade deals and, at some point, another general election - and we all know how much the property industry hates a general election.”
    Robert Butterworth, head of research at estate agents Jackson-Stops London, agrees: “At present, a significant amount of buyers and sellers in London are holding off on making decisions before firm agreements have been made. We expect to see transactions increase unless the Brexit deal is particularly bad, as it is often economic and political stability that guides both sale and purchase decisions for clients - particularly in the central London market.”
    IT'S NOT JUST ABOUT BREXIT
    London has experienced the most disrupted 10-year property cycle on record. In fact, Brexit uncertainty is merely a suffocating film coating this already complex and distorted sector.
    The global financial crisis of 2008 triggered an almighty housing crash and was followed by the UK's most sluggish ever economic recovery. 
    However, led by prime central London, house prices bounced back from 2010 to 2014 - by as much as 20 per cent in the 12 months to June 2014 - as global wealth flooded into the capital. 
    It was the world’s favourite safe haven… until it wasn’t. 
    Stretched affordability, tax changes that target the wealthy, two general elections in close succession, the referendum and Brexit-related job uncertainty combined to burst London's bubble, triggering price falls of 15 per cent in the luxury inner core of the capital.
    Another distorting factor has been the availability of credit. Long-term mortgages and Help to Buy for first-time buyers, as well as a lack of stock, and demand from a burgeoning London population have cushioned falls so far but price growth is only going one way.
    WHAT WILL HAPPEN TO HOUSE PRICES?
    New figures from the Office for National Statistics show a steady decline in annual growth rate month-on-month over the last two years. Although the data has a six-week lag it’s widely considered to be the most accurate of the indices. 
    House prices increased in the year to October 2016 but gradually inflation has slowed and hit negative territory. Prices fell -0.31 in the 12 months to October 2018, giving an average house price in the capital of £473,609.
    December Rightmove data shows a drop in asking prices which could translate into actual falls in the annual growth rate in the run-up to March. Henry Pryor predicts a four per cent fall in London house prices in 2019. Savills forecasts a two per cent drop, as does Strutt & Parker. 
    HELP TO BUY WORRIES
    In the 2018 October Budget the Chancellor announced the extension of the Help to Buy shared equity scheme, under which the Government lends first-time buyers 40 per cent of the value of their home to get on the ladder.
    The scheme is now due to end in 2023 which will undoubtedly come during an era of interest rate rises, making it more expensive for those who have to start paying back the five-year loan. 
    In addition those Help to Buy homeowners who are ready to sell will be flogging a second-hand home – on which the new-build premium will have waned - to a new breed of first-time buyer who will not be enjoying the same financial leg up. "Surely this translates into a 10 to 15 per cent price discount," says Pryor.
    REGENERATION SPOTS TO WATCH
    Despite negligible capital growth across London in the short term, there are pockets of regeneration that represent opportunity.
    Acton is riding a wave of regeneration sweeping west London from Ealing to Hanwell. Acton Gardens is one of London’s largest new developments.
    The Zone 3 scheme, set over 52 acres and comprising more than 3,400 new homes, has landscaped gardens, areas of green open space and new shops including a Sainsbury’s and a Lidl. One-bedroom apartments are now available from £405,000 and two-bedroom apartments from £555,000. See countrysideproperties.com
    Farringdon, far more central, is evolving into a residential enclave from a grey district of commercial buildings and hidden nightclubs between Holborn and the City. It has a very established foodie scene ranging from Exmouth Market and Leather Lane Market to Smiths of Smithfield, St John Restaurant and the Michelin-star Club Gascon. Its cultural institutions, including the Museum of London, Sadler’s Wells Theatre and the Postal Museum, draw people, too. 
    “Since the announcement of Crossrail back in 2008, the area has seen impressive property price growth. This is set to increase again when it opens, which will see Farringdon become the capital’s most important interchange," says Mary O'Brien of Taylor Wimpey
    However, average property prices aren't cheap. The new Postmark scheme will deliver 681 new homes a short walk from Farringdon station, a new shopping and leisure hub, landscaped gardens and public squares. Prices start from £900,000. Call 020 8023 9334. 
    GREEN SHOOTS IN PRIME CENTRAL LONDON?
    Head of research Adam Challis at consultancy JLL predicts a 15.3 per cent rise in prices at the luxury end of the market in central London over the next five years, once a Brexit deal has been formalised.
    "Despite several high-value transactions during this autumn, the prime central London sales market suffered a setback to its recovery.
    On average, prices fell marginally during the third quarter of the year, having increased in the preceding two quarters and transaction volumes slowed, too," says Challis. "But looking forward we believe that some kind of Brexit deal will be agreed in the coming months which will remove a degree of uncertainty and instil much-needed confidence into this highly sensitive market."
    This bullish forecast is dependent on an orderly Brexit. "We believe that prime central London will show the highest UK growth over the next three years," agrees Uma Rajah, chief executive of investment fund CapitalRise. "Homes in the prestigious neighbourhoods of ChelseaBelgravia and Mayfair have proven to be more resilient in terms of values during times of political and economic uncertainty.
    The international renown of these areas and the continued draw of London as a global city means that properties in these areas will always retain their desirability."  
    Ongoing trade negotiations may depress domestic demand and lead to the pound falling further, presenting a buying opportunity for foreign purchasers and therefore encouraging much-needed foreign direct investment into the UK. 
    Mayfair is in the throes of widespread renovation with the redevelopment of Grosvenor Square at the heart of its transformation.
    IN THE INTERNATIONAL SPOTLIGHT
    The former US Navy base, Twenty Grosvenor Square is due to complete next year. Comprising 37 luxury three- to five-bedroom apartments and serviced by the Four Seasons hotel group, it is set to become one of London's most prestigious addresses.
    Despite Brexit, its launch will focus the eyes of the world's elite back on Mayfair (020 3019 0630; 20gs.com).
    A recent report by Knight Frank has revealed that St John's Wood is the only pocket of prime central London where sales are rising.
    It’s attracting buyers who want to be within easy reach of central London but appreciate its village-like feel. Plus, it's cheaper than the traditional core of Belgravia, Mayfair, Chelsea, Kensington and Knightsbridge.
    Canalside Lyons Place completes next summer and is situated where St John’s Wood meets Maida Vale meets Little Venice. By developer Almacantar, it comprises 24 apartments and five three-floor townhouses that cost £2.5 million. 
    Lyons Place is located within the recently announced Westminster council Church Street masterplan, which will see around 1,750 new homes built between Edgware Road Tube station and Regent’s Canal.
    Alongside the residential developments, the masterplan will include a 40 per cent increase in public open space. Call the Lyons Place sales team on 020 7535 3948.
    BREAKING UP IS HARD TO DO
    Leaving the European Union on good terms - if such a thing proves possible - might give house prices a Brexit bounce-back. So argue the likes of JLL.
    The group forecasts a 14 per cent rise in values over the next five years, underpinned by positive economic indicators such as wage growth.
    But while a deal should help release the pent-up need to move house, surely the London property market faces a slow and steady recovery, rather than a rebound.
    Deal or no deal, this a bad break-up and it will take time to get over the economic anxiety, uncertainty over the location of big employers and the erosion of trust in politicians, before buyers and sellers can again act with financial confidence.

    Friday 11 January 2019

    UK house prices rise at fastest rate in almost two years, says Halifax

    Surprise increase after sluggish year comes despite uncertainty over Brexit
     UK house prices rose by 1.3% in the three months to December on an annual basis. Photograph: Matt Cardy/Getty Images


    UK house prices unexpectedly rose at the fastest monthly rate in almost two years in December, according to Halifax, despite warnings over the potential impact of Brexit for the year ahead.
    Halifax, one of Britain’s biggest mortgage lenders, said the average cost of a home rose by 2.2% compared with November. This outstripped all forecasts in a poll of economists by Reuters, in a surprise sign of strength for the economy with less than 90 days before the UK is expected to leave the EU.
    However, the figures come after a sluggish year for house price inflation, against a backdrop of heightened political uncertainty and following years of rising prices that have reduced the affordability of properties. On an annual basis, house prices rose by 1.3% in the three months to December, marking the weakest year since 2012.
    Analysts warned house price growth would be restrained in 2019 after a decade of weak wage rises, as well as the risk of a property slump triggered by a no-deal Brexit.
    Hansen Lu, a property economist at the consultancy Capital Economics, said: “With prices so high relative to incomes, many buyers have been priced out of being able to purchase a home.”
    The latest snapshot of the property market came as a surprise after a conflicting report from Nationwide, which suggested house price growth was 0.5% in December – the slowest annual rate since February 2013.
    Analysts said the two barometers of house price inflation, which are based on each lender’s differing mortgage approval figures, can be volatile. Low numbers of property transactions, which have declined amid fears over Brexit, may also have had an influence, they added.
    Jeremy Leaf, a north London estate agent and former residential chairman of the Royal Institution of Chartered Surveyors, said: “At first glance, the Halifax numbers are really positive as they reflect a time of particular political uncertainty and the height of Brexit turmoil.
    “But when taken with the recent fall in transactions, it is clear that the increase has more to do with a shortage of stock rather than a bounce-back in the market generally.”
    The average cost of a house in Britain is £229,729, according to Halifax, although there are significant differences across the country in house price growth. Property values in London and the south-east have either fallen or barely risen, while house price inflation has increased sharply in other parts of the country, including the midlands and the north-west of England.
    Russell Galley, a managing director at Halifax, said he expected annual house price growth would remain stable between 2% and 4% this year, although warned this would depend on the Brexit outcome.

    Wednesday 9 January 2019

    Significant increase in number of middle-age renters


    Significant increase in number of middle-age renters

    There has been a 15% rise in the number of people renting a home aged 35-54 in the last three years as they struggle to get a mortgage, new research shows.
    Increasing house prices have left many middle-age workers unable to afford a first home, or as ‘accidental renters’ after a relationship break-up.
    The research, commissioned by Intus Lettings, found that the amount of people aged 45-54 who revealed they are renting due to not being able to afford a house deposit has grown by a third since 2016, according to the new data, while just under a fifth of renters over 55 believe they’ll ever be able to afford to buy a property.
    Reasons noted in the survey included general affordability and problems getting a mortgage due to age.
    Hope McKendrick, lettings manager at Intus Lettings, said: “With the cost of rent rising faster than wages, it’s no surprise that an increasing number of people find themselves unable to save up for a deposit to buy a home well into their 40s, 50s and beyond.
    “The survey results revealing that a large proportion of older renters don’t believe they’ll ever be able to buy a home is a particularly worrying trend, as only around one-in-five middle-aged tenants feel renting actually suits their lifestyle.”
    McKendrick added: “Given that nearly half of renters aged between 35 and 54 live with their children, the pressures can mean added stress for parents and families.”




    Monday 7 January 2019

    Top commuter towns and villages for home buyers to have on their radar this year


    Top commuter towns and villages for home buyers to have on their radar this year



    Londoners looking to buy a commuter home this year should start their search with these top six destinations. 
    For buyers whose 2019 New Year resolutions include moving out of the capital, the sheer number of options within an hour of central London can be dizzying. 
    Whether you dream of living beside the sea, want better schools, or value picture book looks, this is where you should start your property hunt:

    1. Best for: budget buys beside the sea

    Check average house prices in the SS1 postcode here
    This old school Essex resort tends to be overlooked in favour of better-known Brighton, but its fast commute of less than an hour to Fenchurch Street, plus high-performing grammar schools and beaches make it a great choice - even though the seafront itself is a bit grotty. 

    The most popular location is inland, at Leigh-on-Sea, where independent shops and cafes, along with period housing, make this spot a magnet for exiled Londoners.
    2. Best for: super-fast commuting
    St Albans, Hertfordshire

    Check average house prices in the AL1 postcode here
    This cathedral city has long been a commuter superstar, with services to London taking around 20 minutes.

    Add to that brilliant schools, a beautiful and historic city centre with loads of nice pubs, bars and restaurants to explore, as well as a good mix of high-end chains and independent stores and a good market, and St Albans ticks all the boxes for commuters.Property here isn’t cheap, but in this case you get what you pay for.
    3. Best for: family life
    Winchester, Hampshire

    Check average house prices in the SO22 postcode here
    This is another lovely, historic cathedral city, but its location on the western fringe of the South Downs makes it a more affordable option than St Albans. However, you will spend just over an hour on the train every morning.

    If that isn’t a deal breaker then the suburbs of St Cross (quaint, leafy, lovely period houses), Fulflood (Victorian streets close to the station), and Hyde (quality family homes close to the River Itchen), are the three names to know, although the joy of life in a small city is that you can walk everywhere.Winchester looks gorgeous, its crime rate is low, schools are great and there is plenty of open space – the water meadows are particularly delightful. 
    4. Best for: brilliant schools
    Canterbury, Kent

    Check average house prices in the CT1 postcode here
    The grammar schools of Kent have drawn generations of ambitious parents out of London, and Canterbury has a great selection led by Barton Court Grammar School and Simon Langton Grammar School for Boys. Crucially Canterbury’s non-selective secondary schools are also good. 

    Add to that a 51-minute commute, thanks to High Speed 1, a lively town centre with good facilities and some stunning Georgian homes within the ancient city walls. Beyond the city centre buyers flock to St Dunstan’s, close to the station and popular with artists and writers. Canterbury has a strong local arts scene, too, with the Marlowe Theatre and the Gulbenkian arts centre, while the Kent Downs are just to the south for country walks. 
    5. Best for: affordable Surrey

    Check average house prices in the KT13 postcode here
    If you aspire to a Surrey address but can’t afford Guildford or Weybridge, then Addlestone is one to consider. It is not as chichi as the county’s better-known options but its schools are good, it has plenty of green space in the form of the very pretty Chertsey Meads, while trains to Waterloo take around 50 minutes.


    The high street is well-equipped with local shops and chain restaurants. Better yet, Waitrose recently arrived in Addlestone – a sure sign of a town on the up – and there’s a new cinema. 
    Housing ranges from Victorian to new build, and you could pick up a four-bedroom house for about £550,000. In nearby Weybridge you’d pay £800,000 to £900,000 for a similar property.
    6. Best for: vibrant village life​​
    Charing, Kent

    Check average house prices in the TN27 postcode here
    If you hanker after a photogenic village, Charing is big enough that you won’t feel too far out in the sticks, but small enough to feel like “proper” country. 

    Right on the lip of the Kent Downs, the centre of Charing is extremely pretty, with a high street full of timbered and weatherboarded buildings, plus a parade of useful shops. On the outskirts are two country pubs, The Bowl Inn and The Wagon & Horses. Charing Church of England Primary School has a “good” Ofsted report.
    Like many villages, Charing’s charms have been slightly marred by a halo of uninspiring 20th-century housing built around its traditional centre, but this is almost its only flaw - and for commuters that’s usually overridden by the presence of a station with links to London in just under an hour.