TEN WAYS TO PREPARE YOUR PROPERTY FOR SALE.

When selling a house, it is essential to present it immaculately to your potential buyers- eradicating dirt, clutter or any unpleasant odours. Whether your house is new or old, it is crucial that you present it in a way that appeals to the majority. However, for many, selling a property is not done often, so, understandably, the process could be difficult to navigate and even a little confusing at times. To put your mind at ease, we’ve picked ten key tips to help you prepare your property for sale.

1. DECLUTTER AND DEPERSONALISE

Although it can be difficult at times to remove the sentimental touch from your house and even harder to clear the clutter, this is essential. The aim is to create a refined, minimalistic look to your property to make it palatable for most people viewing your house- encouraging them to focus on the property rather than its contents.

Remove items such as family photos, quirky signs and any distracting artwork. You want to encourage potential buyers to picture themselves living in the home- so any everyday items such as toys, cleaning products, coats and shoes should be kept out of viewers’ eyeline and stored in appropriate places.

2. LIGHTING

Lighting can dramatically change how a space looks- letting more natural light into youNr home will allude to a bigger room. If you have daytime viewings, it’s as simple as opening all your curtains and blinds, letting light pool in through all possible windows.

However, if you are hosting viewings at night, getting the lighting right can be a little tricker. Try to focus on ambient lighting- having too many overhead lights on in your home could make it seem cold and unwelcoming. Invest in some lamps and place them on lower surfaces such as tables and the floor to create an inviting atmosphere.

3. DÉCOR

It is crucial that you strive for neutral décor throughout your home, aiming for a refined and minimalistic look. Style is subjective, so you want to aim for something that will appeal to the majority- buyers can change the interior once they’ve bought the home. Aim to create a ‘blank slate’, ensuring that you don’t subtract the focus from the house itself.

Good colours to paint your house would be white, grey or cream.

4. FOCUS AND PERSPECTIVE

If you have certain features in your home that make it stand apart from the rest- bay windows, interesting door frames and archways, a cosy fireplace- don’t be afraid to make them stand out. Potential buyers will be keeping their eyes peeled for something that will make them fall in love with the house, so don’t refrain from highlighting the unique parts of your property.

You could do this by having an accent wall to accompany these interesting features or by decorating appropriately- this will catch viewers’ eyes encourage them to focus on your favourite parts of your property.

5. EXTERIOR

First impressions certainly count, and the first sight that potential buyers would be greeted with is the exterior of your house. Ensure your front garden is tidy and well presented, your bins are out of sight, and your front door looks clean and approachable. This will set a great atmosphere for the rest of the viewing.

6. GIVE EACH ROOM A PURPOSE

Many people have a spare room in their house that is often used for many different things. If you have a guest room used as an office or something similar, consider picking a specific purpose and sticking to it.

When you have a room that serves many different functions, it can be challenging to explain exactly what it is used for to the potential buyer. Remember, you are trying to sell a practical living environment and the illusion of a perfect home.

7. NEUTRALISE ODOURS

Bad odours can sometimes go unnoticed in a home- you spend so much time there that you get used to it. Neutralise bad odours by emptying your bins and not cooking immediately before viewings. Even if the rest of the house is immaculate, a bad smell can be enough to put potential buyers off.

However, some smells can linger for more than just a short amount of time. This can be because of pets, children or even an overpowering washing powder (yes, you can have too much of a good thing). After a while, you may get used to these sorts of smells and not be able to identify them in your own home. Getting a friend or neighbour to smell your house and give you honest feedback can help you pick up odours that you can’t smell yourself.

8. SMALL FIXES

If you don’t have an eye for detail, it can be difficult to notice the smaller tasks to complete to give your home a polished appearance. Scuffed skirting boards, broken door handles, and chipped paintwork are all details you may not pick up on every day, but potential buyers will undoubtedly notice. DIY can be scary for some, but you can always ask a friend or family member for help and have fun socialising too!

9. CLEANLINESS

When you present your house, you should remember that you want to make it as immaculate as possible- potential buyers do not want to see how you live. Not only should you deep clean all the living spaces and bathrooms, but you should also clean in spaces you wouldn’t expect your viewers to look at- the fridge, the microwave and kitchen and bathroom cupboards. After you’ve finished cleaning, remember to put all your supplies away- your viewers won’t want to be reminded that cleaning must be done to maintain a household.

10. ESTATE AGENT

Choosing the right estate agents for you will help you through the entire process of buying and selling a house. This is a crucial part of the process and will make your role significantly easier. Although this all happens behind the scenes- choosing the right estate agent can help you feel far more confident in your property and help you sell it with ease.

Combining all the previous tips and tricks will ensure you immaculately present your property, engaging and impressing all potential buyers- your house will be sold in no time!

HOW TO CHOOSE THE BEST ESTATE AGENCY FOR YOU

When buying and selling a house, it is essential that you have the proper support throughout the process. There are many steps to the process, and things can be a little confusing at times, so you should choose an estate agency that is best suited to you and your needs.

HIGH STREET ESTATE AGENTS

Different estate agents offer differing services, so it’s essential you choose one based on your budget, how much time you need to buy and sell, and how much support you require throughout the process.

A high street estate agent may be the type of agency you are most familiar with. You may see their offices on your local highstreets- you will commonly find them in towns and cities, but you may see some in smaller villages too.

These agents may be self-employed or working to a salary with commission. Highstreet estate agents are great in some cases as they’ll have excellent knowledge of the local property market and will be able to give you a realistic valuation based on the houses they’ve sold in the area. They may already have potential buyers looking for properties like yours, so your home may sell very quickly.

They will accompany viewings when you are not free, and they’ll filter out people who aren’t wholly interested in your property. High Street estate agents are perfect for busy people prepared to pay a higher fee for an estate agent to be more involved in the process.

However, these services will come at a higher cost. High street estate agents often charge a percentage of the final sale price, usually 1.2%, which can be very costly, especially if you’re selling a larger property.

Again, it would be best to reflect on your needs when buying and selling. It can be a tricky process for many, and although you are paying a higher fee, you are likely to receive better support.

ONLINE ESTATE AGENTS

Online estate agents will not have an office base that you can go to, and you will not be able to meet someone face to face. Especially in the current climate, this may be better suited to your situation- it may make the process more simplistic for you, and you may need someone to deal with your property from afar.

Online estate agents fees are often fixed and can be a lot lower than high street estate agent fees. You may be getting a less personal service, but if your house move is relatively straightforward and you require someone to oversee the move from afar, it may be worth saving the extra money.

If you would like more control over the sale of your property, then online estate agents may be your best option. You will schedule your viewings when best suits you and negotiate the deal directly with the buyers. If you are used to moving house or have a particular way that you’d like to navigate the process, then choosing an online estate agent would be ample.

You may also have the option to contact an online estate agent outside of traditional working hours. Their call centres are sometimes open at weekends or late into the evening, so you will have more ability to be in contact at times that are better suited to you.

HYBRID ESTATE AGENT

A hybrid agent is exactly what it sounds like, a combination of an online estate agent and your typical high street estate agent. Usually, hybrid estate agents will offer the services of high street estate agents without the overheads of office space.

Hybrid agents have a considerable advantage when it comes to price points. As they don’t have to pay for the office space, they make savings that they can then pass down to their clients.

They offer a personal experience much like what you’d receive with a high street estate agent, but you save on price. Hybrid agents may also take on a smaller caseload of clients, offering more time to both the client and the buyer.

OTHER TIPS TO CONSIDER

Once you’ve decided what type of agent is best suited to you, you should consider the additional services that they may offer. Every estate agent will be different, so you may find it helpful to make a list of your needs and rank the importance of each one.

Here are some of the main things you should be looking out for when choosing your estate agent.

CONTRACTS – once you have signed the contract with a particular estate agent, you are bound to their terms, so read the contract carefully and be sure of what you’re signing.

Pay attention to the tie in and notice periods. If you’re unhappy with your agent’s performance during this time, you will not have the option to change. Usually, tie in periods can range between four and twelve weeks, and notice periods are often two weeks.

HIDDEN/EXTRA FEES – sometimes, estate agents will charge for photography and staging. This can be great if you want all the extra services covered by one agency, and at times it will make the process more straightforward. However, if you’re dealing with these things independently, make sure you know exactly what you are paying for before you sign the contract.

CHECK INDUSTRY CREDENTIALS – Estate agents are required to be members of The Property

Ombudsman Scheme so that complaints against them can be individually investigated.

Estate agents may also be members of trade bodies, meaning they’ll be obliged to comply with a code of conduct, indicating a higher level of professionalism. Trade bodies to look out for are:

Guild of Property Professionals

National Association of Estate Agents (NAEA)

Royal Institution of Chartered Surveyors (RICS)

There are so many different estate agents out there to choose from, and this blog aims to narrow down the options, so it’s easier for you to pick the estate agent that is right for you. We understand that moving house can be an exciting yet tricky experience. At https://alexanderlawrencemk.co.uk/, we provide services to help you navigate every step of your move, making the experience easier for you.

BENEFITS OF NEW BUILD HOMES

With an expanse of new build homes being developed and sold across the country, it is wise to consider the option of buying a new build property when moving house. Buying a new build has many pros- a brand new house, new appliances and a purpose-built community.

However, it can sometimes be challenging to visualise and understand all the benefits, so we’ve highlighted the most prevalent ones in this blog.

BRAND NEW HOME AND POTENTIAL INVOLVEMENT IN THE PROCESS

When buying a new build home, you truly are starting with a blank canvas. Many people will have lived in an older home before you, and each person will have made it their own- changing wall colours, décor, appliances and flooring.

Everybody has different tastes, which means that you may have to do lots of work to make an older house your home. With a new build, you may be involved in the decorating process, with the ability to choose carpets, tiling and sometimes even entire kitchens- making your house a home from the get-go.

A new build will also be decked out with brand new, top of the range appliances, ensuring you won’t have to do any tricky repairs or expensive replacements once you’ve moved in. Because of this, you will find far more modern and technologically advanced appliances in new build homes- in an older home; you may have to replace things like ovens and dishwashers to have them up to your standards.

Overall, a new build will be in pristine condition, making the move a swifter experience.

PEACE OF MIND

Unlike older homes, new build properties will be covered by a ten-year warranty- usually by the National House Building Council (NHBC).

The warranty begins from the point of the exchange of contracts, meaning that if anything goes wrong with the completion of the property or you have any problems once you’ve moved in, you’re entitled to financial compensation.

Once you’ve moved into the property, the warranty is split into two sections- the defects insurance period and the structural insurance period. The defects insurance period lasts for the first two years, and the structural insurance period lasts from years three to ten.

This gives you cover for faulty pipes, plumbing, and wiring problems.

Not only will you be moving into a modern, pristine property, but you won’t have to spend a fortune if things don’t go to plan. This is undoubtedly one of the most significant benefits to buying a new build home, especially if you’re a first-time buyer and don’t have much experience with the process; this will certainly put your mind at ease.

SENSE OF COMMUNITY

Within many newly built developments, there will be an overall sense of community along with well thought out amenities. Because the houses are brand new, many people will be moving in at similar times, and most will be new to the area- it will be easier to form bonds as you can discover the area together.

You will find people in the same stage of life as you and if you have children, you may find people with the same age children as you. Many parents crave a safe and stable environment to raise their children in, and a new build community would be the perfect place to do so. Here, they can grow up with others at a similar age and make memories for life.

You will also be moving into a ready-made community, which may have brand new facilities such as schools and gyms. The community will be fit for modern life, so amenities will be laid out appropriately and accessible to the disabled.

If you prefer to be away from the action, don’t worry! There are plenty of smaller developments that consist of only two or three houses- there is a new build for everyone.

BUYING WITH EASE

Moving or buying a house can certainly be difficult, especially if you’re part of a long chain or trying to negotiate with sellers adamant about selling at a particular price.

There is no onward chain with a new build house, which only enforces the security that buying a new build home gives you. You will also not run the risk of a seller in the onward chain pulling out, which would certainly put your mind at ease.

The price of a new build home can also be easier to negotiate in some cases. Most of the time, there will be less demand for specific properties because of plot size and location, making them harder to sell. If a property is almost finished and no buyer is in place, it will be far easier to negotiate a better deal on the house.

Buyers will also offer incentives such as certain appliances and sometimes even help with the deposit. This is not something you would receive with an existing property.

When buying a new property, you are often buying off a developer, and you are purchasing one of many houses, so it isn’t as personal. If you were to buy an older home, you might be dealing with people that are attached to the home or have lived there for many years- they would regard their property very highly and may be less willing to offer these excellent deals.

We understand that buying and selling houses can be extremely difficult, which is why you should invest in a good quality estate agent to guide you through the experience. At https://alexanderlawrencemk.co.uk/, we offer a wide range of professional services to help you through the entirety of your move.

Whether you’re buying a new build or an older house, we’re here to make your experience easier.

There are some outstanding advantages to buying a new build home, but it may not be the best option for everybody. In this blog, we have highlighted the significant benefits, but there are many minor ones that may be subjective to some. Hopefully, this has aided your decision and highlighted whether a new build is right for you.

Milton Keynes is one of the new towns created in the 1960s by the government to relieve congestion in London. It incorporated  Bletchley, Fenny Stratford, Wolverton and Stony Stratford, developing them into the most extensive urban settlement in Buckinghamshire.

It is well known for its US-style design featuring a grid system of roads and numerous roundabouts. Over the years, Milton Keynes has become a popular hub for shopping, business and leisure, with a current population of approximately 265,000.

Milton Keynes attracts many visitors, but people considering a move may wonder what it is like to live there.

One Family Finance ranked 35 places with over 200,000 residents in a liveability index. Milton Keynes came 4th based on average salary, rent, property prices, commuting costs and quality of life.

Of course, there is more to life than rankings, so I have put together this handy guide detailing what it is like to live in Milton Keynes.

Fast trains to London and Birmingham run directly from Milton Keynes station, and buses operate around the town. However, the infamous grid system has indeed been designed with driving in mind with the centre filled with plentiful convenient car parking spaces.

Milton Keynes was built on a grid system with a series of neighbourhoods and a central hub for business, leisure and shopping. Thanks to the incorporation of roundabouts, traffic usually flows easily across town.

While walking the long distances between amenities and retail parks may not be practical, numerous Redway cycle and pedestrian paths offer safe links around the town and allow you to explore safely even with a wheelchair or buggy. There are also plenty of pedestrianised areas at Theatreland, the Hub and the shopping centre, allowing safe passage and a continental feel.

Milton Keynes has excellent employment rates, with 74% of the population in paid employment. There are thousands of jobs advertised in the area across all sectors and at different skill and salary levels.

With large companies like Amazon, Mercedes Benz, and Unilever based in the area and thousands of other businesses, there are many employment opportunities. The thriving leisure industry and hospitality are a significant source of employment too.

Further afield, places like Cambridge, Bedford, London, Birmingham and Oxford are easily commutable, offering a broader scope for career development.

Despite the extensive urbanisation and development in the centre of Milton Keynes, there are plenty of scenic areas that offer something different.

You will find nature reserves, walks and trails, parklands, historic sites and waterways to enjoy in the town.

At Willen lake, as well as plenty of watersport opportunities, you can explore the tree cathedral designed by the landscaper Neil Higson. Alternatively, you can walk along the Grand Union Canal to the Iron Trunk Aqueduct.

From 2018, approximately 25% of Milton Keynes urbanisation was classified as woodland or parkland. Keeping the town green is so important that Milton Keynes District Council created the Park Trust as an independent body to maintain the green spaces in the town.

Property Detective found Milton Keynes was one of the best areas in the country to raise a family. Their research focussed on schools, nurseries, parks, playgrounds, maternity units, NCT groups, chemists and shops.

Finding an excellent school is easy with Ofsted judging 30 of them outstanding and 66 good. For those who wish to choose private education, there is a good selection of independent schools offering both day and boarding facilities.

Many nurseries in Milton Keynes offer childcare, with five getting an outstanding rating from Ofsted. Located centrally and in the local neighbourhoods, it is not difficult to find a convenient one.

What makes Milton Keynes an even more exciting prospect for families is the abundance of leisure activities available for all the family.

You will find something to entertain even the hardest to please teenagers, from snowboarding to skydiving. The choice of activities is endless.

You will find bowling, indoor golf, cinemas, a theatre, and an art gallery, along with bountiful places to eat out. For adventure lovers, there are watersports, climbing walls and high ropes.

As well as Xscape in the centre of Milton Keynes, there are plenty of places to go a bit further afield. Gullivers Land and Dinosaur Park are perfect for the little ones, while Bletchley Park is an interactive day out for history lovers.

Overall, families are spoilt for choice when it comes to spending quality time together.

Safety is a crucial factor in influencing what it is like to live somewhere. Crimerate UK found that the overall crime rate in Milton Keynes was 181% lower than the rate for the rest of Buckinghamshire.

Although currently classed as a town, Milton Keynes has applied to become a city, and current figures suggest it would be considered the safest city in the UK.

All places in the UK suffer some crime, but it is good to see that the trend for anti-social behaviour and burglary has gone down in Milton Keynes since 2018.

While some houses cost over a million pounds, you will be pleased to learn that Milton Keynes is generally an affordable area.

Zoopla suggests that the average price of homes in Milton Keynes is £341,734, about £40,000 lower than the average price for the South East region.

With the average price of a flat in Milton Keynes being just £152,694, you can see that the area is accessible to many.

The availability of homes is good, thanks to a large number of new housing initiatives across the region. You can choose from luxury detached properties to contemporary apartments across all the districts in the town. You will also find a wide selection of shared ownership properties available.

If you want to know more about the area or the types of homes available, you can talk to an award-winning local estate agent. We have the local knowledge and expertise to guide you on buying your dream home in Milton Keynes.

Moving to a new place can be daunting. Finding out about a new town is not always easy, especially if you don't know the area very well.

But what makes an area "a good place to live"? You may have heard that there are a lot of roundabouts in Milton Keynes, but that doesn't help you understand what makes it tick.

Milton Keynes has plenty to offer as the largest town in Buckinghamshire, with several applications asking for it to be reclassified as a city. According to local statistics, Milton Keynes is one of the fastest-growing areas in the country, so there must be something that attracts people.

Prospective buyers will be pleased to hear that some desirable features make Milton Keynes an excellent place to live.

Accessibility is essential to many people, which makes the location of Milton Keynes a critical factor in its popularity. Along with its central position geographically, road and rail services are excellent, making it ideal for commuters.

The proximity to the M1 gives easy access to other towns and cities such as Bedford, Luton, Northampton and Cambridge. The central rail station offers fast train services to both London and Birmingham, and there is also a central coach station linking to other places across the country.

With five international airports a manageable drive away, even international travel is almost on the doorstep.

Finding an affordable area that offers sufficient career opportunities can be challenging. Fortunately, Milton Keynes is home to large corporate companies like Amazon, BP, Mercedes, and thousands of other businesses covering many sectors.

Those working in London will be aware that it is expensive to live there, so people are naturally drawn to commuter towns like Milton Keynes, where properties are generally half the price. According to Zoopla, the average property price in London is a whopping £705,783 compared to the average in Milton Keynes of £341,734.

Education is often top of the list for families when picking where to live. Luckily Milton Keynes has schools and colleges that have ranked well in inspections.

Parents have a wide choice, with 30 schools and colleges rated outstanding by Ofsted and 66 rated good in the wider area. There are also quite a few independent schools in the broader area for those considering private education.

Milton Keynes is built on a grid system similar to the ones used in the US. It provides easy access to all of the facilities in the town but what makes the town's design stand out is the abundance of green space that has been utilised for leisure and nature.

You will find beautiful parklands like Campbell Park and Linford Lakes Nature Reserve and a comprehensive Redway system for cyclists and walkers. Whether you seek adventure, peace or space to cycle, you will be close to a perfect open space.

In addition to beautiful countryside, you will have access to 11 miles of canals and 15 lakes, allowing you the chance to take boat rides, go fishing or have a picturesque waterside picnic. Adrenaline enthusiasts will also appreciate the watersports available on Willen Lake.

Milton Keynes has become well known for its impressive shopping centre ranked in the Top 15 in the UK for size. Located centrally, thecentre: MK and Intu Milton Keynes focus on high street and designer retailers.

With bus connections right outside and an enormous choice of parking, it couldn't be easier to indulge in some retail therapy. The plentiful street food outlets and restaurants help to make the experience more fun.

You will be spoilt for choice for entertainment in Milton Keynes.

Milton Keynes Theatre forms the hub of the busy theatre district showing tours of many celebrated West End productions, the English National Ballet and well-known comedy acts.

Milton Keynes has grown into one of the country's most important cultural centres, with the 'Concrete Cows' installation at its entrance. In the heart of the town, you will find MK Gallery, which hosts many major art exhibitions and clubs.

If music is more your thing, you will be pleased to learn that The Bowl welcomes major international performers, including The Foo Fighters, Take That and Bon Jovi. For a more intimate experience, head over to The Stables, where you can see jazz, folk and classical performances from a wide variety of artists.

There is so much to interest residents, with Xscape providing the SnoZone, Europe's largest snow resort for skiing and snowboarding activities. iFly offers even more high flying pursuits with its indoor skydiving experiences.

For those who prefer to bounce, Gravity is home to trampolining activities with open sessions and parties. You can also experience rock climbing on their indoor climbing wall.

With all these fun experiences under one unmistakably iconic dome, together with a sizeable multiscreen cinema and an abundance of restaurants, it is easy to entertain the whole family.

An alternative for dining out and socialising is The Hub. Bringing together some of the best chain and independent eateries and bars, it's a great place to catch up with friends.

We have established that Milton Keynes is now a remarkable modern town with many facilities. What may come as more of a surprise is its fascinating history.

From 1939, Bletchley Park became the heroic secret of World War II thanks to the brilliant code-breaking operatives who cracked the enemy's messages. It is now a fully revamped visitor centre where you can immerse yourself in the incredible work carried out by the likes of Alan Turing.

Going back further in time to 1154, Bradwell Priory was home to Benedictine Monks and is now a monument of national importance.

Sporting history is also prominent in Milton Keynes. Stadium MK is home to the MK Dons but, as well as football; it hosted some matches in the Rugby World Cup in 2015. Back in the '80s, Planet Ice was the training rink for Torvill and Dean when they practised their gold medal-winning performance of Bolero.

If you are tempted by all that Milton Keynes has to offer, consider engaging the services of an award-winning local estate agent. Our local knowledge can help you to find your dream home.

It certainly is possible to get a mortgage on an auction property, but some essential conditions must be met first.

While the potential of finding a bargain is tempting, some properties sold by auction will not meet the standards required to be mortgaged. Often these properties are better suited to cash buyers.

It is crucial to do some checks before buying a property at auction if you require a mortgage to finance at least part of the purchase price.

This guide will summarise what you need to consider to get a mortgage on a property sold by auction.

When you purchase a property at an auction, the sale becomes legally binding as soon as the hammer falls. There will be a published timescale to pay the agreed price in full, so you must secure any required finance before this period ends.

Usually, you pay a deposit on the auction day and then sign a contract to pay within the agreed period. This period is often 28 days but may be sooner, so read any documentation carefully.

It is worth getting an agreement in principle from a mortgage provider before purchase to speed things up.

There are two types of sale at an auction: unconditional and conditional. Typically, a mortgage takes anywhere from 2-6 weeks to be arranged, so this may be too slow for some auction types.

In an unconditional sale, the legally binding agreement to purchase comes into play as soon as the gavel falls. As there are no conditional clauses, you will be liable to pay regardless of any problems you have securing finance.

Remember that any issues subsequently discovered about the property may prevent you from getting a mortgage.

This traditional type of auction carries more risk for the buyer as any problem with raising the finance will mean you will lose your deposit and incur the costs of relisting the property at a future auction. It is more suited to investors who already have the finance or are cash buyers.

A conditional auction sale is a safer option for buyers as it gives you much longer to secure your finance and carry out checks on the property.

Any deposit paid is considered to be a reservation fee that holds the property exclusively for you for a set period. Once this period is up, you will have extra time to complete the sale under terms similar to a traditional auction.

This type of auction is more suited to people relying on securing a mortgage. It gives them plenty of time to get a survey done, engage a solicitor and do all their paperwork. Often these auctions will be carried out online and are far more convenient for purchasers.

Getting a mortgage agreed in principle (AIP) is a vital way to ensure that a lender would be willing to lend you a certain amount of money “in principle”. In other words, a lender will ask for evidence of your income, savings and expenditure and check your affordability.

This agreement will give you some confidence about how much you can afford to pay for a property at auction.

Although it is evidence of your ability to afford a property, it is not a mortgage offer. The lender is under no obligation to lend you the money as they will base any final mortgage offer on the property valuation.

You can use your “mortgage in principle” to set a ceiling price on your bids. It is important not to get carried away as you will be increasing the risk that you will not secure the finance you need.

When deciding on your budget, remember to include any extras like valuation fees, surveys, legal fees, deposits, and any other fees mentioned in the auction pack.

The best advice is to get a survey done before going to the auction. It will highlight any issues and provide you with evidence to make an informed decision.

A survey will also give you the details of the property condition and present any issues that may prevent a lender from giving you a mortgage. There are a variety of problems that make a property unmortgageable.

Many reasons may lead to a lender not giving you a mortgage on a property. A survey will usually pick out potential issues.

Liveable Condition – Lenders typically expect a property to be immediately habitable. A property that is ready to live in will need a kitchen, bathroom and heating in good working order.

Disrepair – A property that has fallen into disrepair or has significant problems may not be mortgageable. It is challenging to secure a mortgage on a development project, although you may be eligible for a commercial loan. Lenders are often uncomfortable mortgaging a property with an undefined amount of money required for redevelopment.

Short Leasehold – Lenders will not usually finance a property with a leasehold under 30-40 years. Extending a lease can cost thousands and takes time, so you will unlikely secure a mortgage on a short lease property at auction.

Non-Standard Materials – Any property built from materials other than brick or stone may be unmortgageable. Lenders are also now often refusing to lend on properties with cladding. Properties with cladding may require an EWS1 form as proof of meeting current safety regulations.

Other Issues – Things like dry rot, wet rot or Japanese Knotweed can prevent you from getting a mortgage.

If you are confident that you will secure a mortgage or have access to other funds but are concerned about meeting deadlines, you can consider a bridging loan.

A bridge loan is a short term loan given until your long term source of funds is secured.

Bridge loans come with high-interest rates, so they should be seen as a last resort and only a short term solution to financing a property.

It would be best to start putting some plans in place as soon as you see a property in an auction catalogue or online. If you haven’t secured a mortgage agreement in principle, start that process so you know what you can afford to bid.

Consider getting a survey carried out and make sure you are well prepared before attending the auction.

For independent mortgage advice and help finding a lender, you should contact a regulated mortgage adviser.

First Time Buyer Schemes Explained

If you would like to buy a house for the first time, there are several different first time buyer schemes that you can take advantage of. Utilising these plans can save you a lot of money, which is vital when making a large purchase such as a house.

If you are under the impression that buying your first home will be nearly impossible given your financial situation, think again - because these schemes can help you out in this regard.

First Time Buyer Scheme UK

As a resident of the UK, you have many options at your disposal as far as a first-time buyer scheme is concerned.

If you are unsure how to purchase your first house, using a buyer scheme is one of the best ways to go. Using one can help you get a loan that is a perfect fit for your specific situation in life.

Lifetime ISA

This type of account is used for saving funds for either your first house or retirement. Along with the Lifetime ISA, you can also open up other ISA accounts in a single year, including the Cash ISA, Stocks and Shares ISA and Innovative Finance ISA.

With this plan, the government will provide you with 25% of the total amount you save each month, up to a certain amount. The most the government will give you in a year is £1,000.

Make sure you speak with your financial advisor to see how your 25% bonus from the government will be credited to your account.

Help to Buy – Wales

This shared equity loan is for new-build houses that cost £250,000 or less, and you can only use it for a home built by a registered Help to Buy builder.

For this plan, you need to put down a 5% deposit. The plan will cover up to 20% of the house’s price. For the remaining amount, you have to take out a repayment mortgage.

England Equity Loan

As long as you are a first time home buyer purchasing a house within the price range of the region-specific price cap, you can use this loan for a new build. There are a couple of stipulations with this scheme.

First, you must reside in the home you are buying - renting out the property is not allowed. Along with this, the house must be the only residence you own.

With this loan, up to 20% of the total purchase price is covered - but you can get up to 40% if the property is in London. You are required to put down a 5% deposit.

With this scheme, your first five years of payments are interest-free, which helps the savings add up.

Homebuy – Wales

This particular first-time buyer scheme provides you with an equity loan for purchasing a house that has been built previously. It is a brilliant option for those who would otherwise have trouble paying for their own home.

Keep in mind that this scheme is only available in certain areas, and eligibility relies on a few factors.

Shared Ownership

There are a variety of shared ownership buyer schemes available for those purchasing a home for the first time. With a shared ownership buyer scheme, you buy a fraction of the property from your landlord and pay rent on the remaining amount.

Your share of the property will typically be between 25% and 75% - so you may need to take out a mortgage for your share of the property. Keep in mind that you can slowly work your way up to 100% ownership of the house later on, which can be a good piece of information to have if total ownership is something that is important to you.

Right to Buy Scheme

This first time a home buyer scheme is only an option for those living in Northern Ireland and England. With it, you can purchase property for less if you are a housing association or council house tenant.

The discount amount is dependent on how long you have resided at the property. Those who have lived at a property for five years will get a 20% discount with an additional 2% added to their discount in each year that follows, up to 60% or £24,000.

If you find that you are ineligible for this specific scheme, you can check to see if you would be eligible for the Right to Acquire scheme - if you live in England. This plan provides you with a smaller discount than the Right to Buy scheme, but this is still better than no discount at all.

HOLD

The scheme, called Home Ownership for People with Long-Term Disabilities (HOLD), is a shared ownership plan available only in England. As the name suggests, it is designed for people with long-term disabilities to assist them in purchasing their first home.

To be eligible for this scheme, you must show that all the other first time home buyer schemes will not fit your specific needs.

Older People’s Shared Ownership

This first time home buyer scheme is designed for those older individuals who have never owned their own house. To be eligible for this plan, you must be at least 55 years of age.

With this scheme, you purchase up to 75% of the house. After this point, you are no longer required to pay rent.

Final Notes

As you can see, there are many different avenues you can take to make buying your first home a lot more affordable, as well as a far less stressful experience. You can learn more about eligibility requirements for each scheme by doing a quick search online.

If you are still having trouble deciding which scheme you should try to apply for, you can always enlist the help of a real estate agency and a financial advisor to figure out the best plan for your unique situation.

When you are looking at different properties, one of the options is a coach house. You may wonder, “What is a coach house?”

A coach house, or carriage house, is designed with the living area above a garage or a carport. In the past, they were used to store carriages and horses in stables on the ground floor - and had living quarters above.

People no longer require carriage houses, but the style has endured. They are popular with landlords who rent out the living space above the lower floor and the storage space below.

Coach houses, or carriage houses, used to be outbuildings where people stored their horse-drawn carriages. It was the equivalent of a garage today.

They first were built in England in the 18th century, and they started appearing in the early 19th century in the United States.

They used to be a status symbol - most people could not afford a horse and carriage. As automobiles came on the scene in the 1900s, people began converting their carriage houses into garages for their cars. The living space became a place for staff and drivers, and some people used it for storage.

Most coach houses had a similar structure. They were two stories, and there was a central opening that had room for drivers to drive carriages drawn by horses in or out of the building.

They were almost always freestanding buildings located away from the main house on the property. The coach house usually was built in an architectural style that matched the main home.

On the ground floor, coach houses typically have high ceilings. Many coach houses have an upper floor that contains a small living space - in the past this space would have been used by the driver.

They were usually dark because the windows were only in the front of the building. They were typically small with a simple design, as they intended to serve as functional outbuildings.

In cities, they usually only had room for one carriage - they often failed to include living space for drivers. However, rural coach houses were on large country estates, so they had more land to build them - coach houses could be bigger and accommodate more than one carriage.

Some estates had coach houses that had room for the carriages, the horses, and living quarters for the drivers and the staff.

Coach houses are unique, and people often restore them and make them functional spaces in the modern world. They can serve as a garage or a home; they are also often used as workshops and studios.

People often gut the coach house and customise it to meet the needs of their daily lives. They can undergo renovation into an entertainment centre, a home office, and more.

They add value to a property and often sell for a premium. Not only does a coach house offer more living space, but the space below can be rented out and become a passive stream of income.

Many new coach houses also get built; nowadays, they are usually over a row of garages or carports. They are considered a stepping stone between a flat and a freestanding home.

They are affordable to maintain, so they are often considered good value for the money. Many people live in the coach house, use one garage space and rent the others out on long-term leases.

Sometimes they have carports, which owners can also lease for additional income. When you rent, you will find that the landlord almost always leaves out the garage space.

There are quite a few benefits to having a coach house. Firstly, they can be affordable and relatively simple to let out.
You can live on the property and rent out the portion that isn’t in use - you can live there and rent the garage or use the garage and rent the living space.

When renting a property, one advantage is that there are no neighbours in the same way that there is in a flat. They are usually on more land, and they are a step between flats and freestanding homes.

Modern coach houses can be great for saving space, and they are perfect for renting out.

Coach houses are unique, and they offer renters a place that is a step up from a flat without the expense of a freestanding home. They offer owners a home that can bring in passive income along with extra space.

Older coach houses that have not undergone renovation can be harder to heat and cool. It can be hard to maintain a warm environment due to the building style during the 18th century.

If you plan to buy one, you must understand that they are in higher demand for renting than reselling. There is a higher demand for stand-alone family homes amongst buyers.

Another disadvantage is that they can be harder to insure. It is a combination-style building, which means that the insurance is likely to be more expensive.

When you are considering real estate, coach houses are one available option. A coach house is what used to be called a carriage house, and it is a unique setup.
In the past, people would park their horse carriages on the ground floor and use the space on the second story as living quarters. Today, these buildings offer extra space for renters and buyers.

If you are renting, the coach house offers greater privacy than a flat without the expense of a freestanding home. Owners can rent out the garage on the first level, the space above, or both.

When looking at real estate, one type of property is a link-detached house. Many people see the name and ask, “What is a link-detached house?”

The answer lies between a detached house and a semi-detached house, and it has its own name because it is different from both.
A link-detached house is residential and, although it doesn’t share common walls, it is usually linked to next door by a garage.

Link-detached houses fall right in the middle. They tend to have more value than a semi-detached property - but less value than a fully detached house.

A detached house is freestanding and has no link to any other home. A Semi-detached house is a house that shares one common wall with a neighbouring house.

The link-detached house is adjacent to another property, and the shared wall lies in a garage. There is a degree of separation from the neighbours.
From the road, it may not look linked at all. Sometimes the part of the building that is connected to the foundation isn’t visible from above ground.

However, the buffer of the garage means that there is less noise from the neighbouring house. It is more similar to a detached house in this way.

That said - if the neighbour is working with loud tools in the garage, there could be more sound. Some people convert the garage to living space, which changes the dynamic.
You can’t call a link-detached home a detached home, even if it appears to be detached. That would be deceptive because the two houses are linked.

This is why it is classed as a different type of property. It offers people another option between semi-detached houses, often called “semis,” and detached houses.

With a link-detached house, you don’t need permission for minor repairs, such as plaster, electrical work, or hanging shelves and cabinets. You may want to let your neighbour know, but it isn’t required.

However, you do need to get permission for some work, including the following:
● Building a new wall
● Cutting into the shared wall
● Changing the size of the common wall
● Removing a chimney from the common wall
● Replacing the common wall

The main benefit to having a link-detached house is that it is less expensive than a semi-detached property. Not only that, but it has the convenience because you aren’t sharing a wall that is in your living space. It is not as noisy as a semi-detached house, so people prefer them.

A link-detached house is less noisy than a semi-detached house but noisier than a detached house. Sometimes people convert the garage to living space - this creates more noise for the neighbour.

You can resolve this problem by adding soundproofing to the wall; as a result, it won’t be inconvenient and you won’t have to live with the extra noise.

Another issue occurs when one person wants to extend the space. Both sides must form an agreement according to the Party Wall etc Act 1996.

Another consideration is the value. If you extend the house, it can decrease the value of a link-detached house. Extending it actually brings the properties closer together, which goes against why most people choose a link-detached house.

You may have a shared driveway with this type of house, as the garage is typically where the houses are linked. This can lead to issues when guests are coming to visit as they can end up blocked in.

There is a higher risk of issues with neighbours than is in a detached house if you are in a link-detached house, but fewer than in a semi-detached house.

It is easy to confuse a link-detached house with a semi-detached house. Semi-detached houses are called “semis” for short, and they have some features in common with link-detached houses.

However, a semi-detached house shares at least one wall with the neighbouring home. This isn’t usually a bedroom wall, and there aren’t windows on this wall.

You could find the staircase on this wall or the back of the kitchen. Some people put bookcases against the wall, or they have storage there.

The design originated in the 17th century, and it became popular in the 19th century.

Each will usually have a driveway, a front garden, and possibly a garage. They are less expensive than detached houses or link-detached houses.

Another type of house is a terraced house. This is different from link-detached houses because they share a wall with houses on both sides.

If you live in a terraced house, you will have a space in front and the back, but you won’t have any on the sides. You won’t have windows on the two sides of the house either.

Terraced houses can feel cramped for some people, but they are the least expensive of these types of homes. However, people usually prefer a link-detached house.

When you look at houses in the UK, there are different options out there. The most common are terraced, semi-detached, link-detached, and detached homes.

A link-detached home is a step below a detached home but has some of the same benefits. Because the common wall is usually in the garage, there is a buffer for noise.

Semi-detached houses have a common wall on one side, and terraced houses share a wall with people on two sides. People often choose link-detached houses because they provide more privacy and have more value.

When buying and selling a home, the ideal situation is to sell your existing home first before you put any money down on a new one. But since that isn’t always possible, you have to think of some practical solutions to make it work.

The biggest problem with this scenario is that you’ll often need some type of short-term financing to make sure the timing is just right on your purchase. Bridging loans are popular loans in these situations, as they give you a way to secure the purchase of a new home before your current home sells.

Let’s take a look at bridging loans in more detail.

Bridging loans offer short-term secured financing when you wish to purchase a property even though your current home hasn’t yet sold. With these loans, you can use the equity in one property to pay for a deposit towards another one.

Of course, this means that the mortgage holder will own several properties at a time while the process is going on. Nevertheless, it gives you a good solution to wanting to buy one property even though another property isn’t sold.

One of the biggest advantages of taking out a bridging loan is that it can be arranged quickly and on short notice. When the home buying process needs to be quick, bridging loans are therefore often the perfect solution.

Naturally, bridging loans vary when it comes to exit fees, arrangement fees, and interest, among other things. In this respect, they are very similar to other types of financial products.

There are numerous reasons to take out a bridging loan, and below are a handful of them.

• Purchasing a retirement property. Retirement properties are usually second homes, which puts people in a situation where they need this type of loan. Sometimes additional time is needed simply because the owner wants to do some renovations on the old property before moving into the new property.
• Downsizing. People often downsize their property so they can pay off some bills or even have fewer bills to pay each month. If they have a large home, it may take them longer to sell it than it does to find a new, smaller home. This makes a bridging loan the right solution for them.
• Properties that don’t qualify for a standard mortgage. Some properties, such as those with structural concerns, do not qualify for regular loans. A bridging loan could be used in this instance and can help you purchase the property so that you can start the needed renovations.
• Buying a property at an auction. When you go to an auction and bid on a home, you have to pay for it quickly. Or, you might need to sell your house quickly because you’ve been transferred by your place of employment. Bridging loans help with both of these situations and make things easier on you.

There are numerous types of bridging loans, and they can be used for either residential or commercial purposes. These loans include the following types:

• Regulated bridging loans. These loans are secured against properties that are the main residence of the borrower or a member of their family.
• Unregulated bridging loans. These loans are secured against properties that are not the main residence of the borrower, or they will be used for investment or business purposes.
• Commercial bridging loans. These loans are used for either buying or refinancing commercial property or land.
• Auction financing. If you need funds to purchase property at auction, this is the type of financing you’ll need.
• Refurbishment financing. This is the refinance of unmortgageable properties. They often require a lot of renovations or refurbishment to be made inhabitable.

There are similarities and differences between bridging loans and standard mortgage loans. For one thing, the interest rate that you’ll end up paying for a bridging loan is based on the loan-to-value (LTV) amount, which is similar to a standard mortgage.

This means that the more you borrow compared to the value of the property, the higher the interest rate will be. This also means that if you include more than one property as security, the LTV number could be reduced, which usually results in a lower loan rate.

If all of this sounds confusing, don’t let it get to you. It really is much easier than you think. In fact, many websites provide you with a calculator that you can use to get more details on the loan you need. When you visit a site that offers this type of financing, you’ll get all of the details you need to make sure that this option is right for you.

Q: How are bridging loan interest rates calculated?

A: Normally, the pm percentage varies depending on how much money you’re borrowing. You can borrow up to 80% of the value of the property and get different rates each time.

Q: Are there other things that affect the interest rate?

A: Yes. Things such as the location of the property and even the size of the loan can make a difference. Many banks also provide preferential terms for loans that are more than £1 million.

Q: What types of fees will I be paying on a bridging loan?

A: They vary depending on the lender, but there is often a lender arrangement fee that is around 2%. Comparison shopping is also recommended so that you can pay the lowest fees possible.

Bridging loans are usually used to finance a new home when your existing home hasn’t been sold yet. These short-term loans are also perfect for people who need to finance a property quickly, such as one that is purchased at an auction.

The terms of these loans are usually reasonable, but just as with any other type of financing, it’s best to shop around so that you can get the best interest rates and the lowest fees.

If you don’t know how to start looking for a bridging loan, a real estate management company will help you because they know a lot of financial institutions that can help you get started.