October 2019 - Latest news and views from Ryder & Dutton

This month we speak about Brexit and why it's definitely not wise to wait until it all 'blows over'. We've created a checklist for your buy-to-let property to get it ready for the winter. We list the fantastic services we offer to make house hunting easier over the winter and the topic of for sale/to let boards is also on our list as we discuss the benefits.

Thank you for taking the time to read our newsletter, we hope you enjoy the articles and stories featured!

Ryder & Dutton

Why shouldn't you wait for Brexit to be over to move house?

Brexit is causing much misery, and this is especially true when it comes to the property market.
People who have a need to move are reluctant to make any big decisions due to the huge amount of uncertainty that Brexit has caused. Similarly the people who are just thinking about moving but don’t necessarily need to are also putting off the big move. This is having a detrimental effect on those who are pushing through, making it harder for them to find what they’re looking for.
But life can’t be put on hold. By the time you wait for this to all be over, your children have grown up, prices have inflated even more, services have been scrapped and life circumstances have changed. This means there are many benefits to moving during this time.
So why shouldn’t you wait any longer?

1. From the outside looking in it appears that Brexit has caused the market to look thin and limited however this isn’t the case. If you’re firm enough and have a good idea of what you’re looking for, you will be able to find the right property for you and your family. Better still, negotiating a better deal could be easier than usual due to vendors pushing for sales before Brexit arrives. You should also have less competition, making it easier than ever to buy or sell, again making negotiating much easier.
2. Prices have remained fairly stable despite Brexit so it’s a great time for both buyers and sellers. At times of uncertainty it is not uncommon to see prices rise and fall dramatically but for now, they have remained steady, so now is a fantastic time to seize the opportunity of buying or selling without having to worry about those difficult fluctuations within the market.
3. Interest rates have fallen dramatically and it is not expected that they will fall any lower, so that means the only way for them to move is up. It’s not been predicted that interest rates will sky rocket to unreasonable rates but it’s still advisable to fix at a good rate sooner rather than later. The same can’t be said for stamp duty so don’t expect any change there any time soon.
4. You never know what’s around the corner. Life is like that and if you think you’ll benefit by waiting a little longer to buy your next home then that’s very optimistic. However, if the past ten years are anything to go by – full of political and economic uncertainty – you could end up waiting for anything like to pass before moving on and then something else will crop up. If you move now, you could be in before you know and enjoying your new life in your new home.
5. This one is simple and quite obvious - the costs of moving and living are rising and will continue to do so. By moving now you’ll avoid paying more for the same service when the time comes.
6. Chances are if you’re thinking about moving then there’s a reason for it. Whether that’s to do with jobs, schools or lifestyle, don’t put your life on hold. Moving now not only makes financial sense but the benefits to your life are plain to see.

So as you can see, there is no sensible reason for waiting until Brexit has concluded, that is if it ever does. At the time of writing, Brexit has been delayed yet again until 31st January 2020. So all the benefits as outlined above are here to stay for a little longer.

Choose an agent that doesn't hibernate this Winter

It can’t be denied it any longer, Winter is coming. And no, that’s not a dodgy reference to a certain TV show – it actually is coming. As the nights draw in, we tend to hunker down, stay indoors and almost hibernate, putting our house hunting plans on hold. But why? It doesn’t need to be that way.

What if you could do almost everything online? What if you could stay cosy on your sofa whilst searching for your next home, book a viewing, request a valuation of your existing property whilst speaking to an advisor? Well you can!

In this article we’ll guide you through each of our online services. So get your pyjamas on, make that overdue cup of tea and get settled; we’ll be there every step of the way with just a touch of a button.

Property Tracker

Our online trackers allow you to follow your sale or let whether you are a vendor, landlord, buyer or tenant 24 hours a day, 7 days a week. We know life isn’t always 9-5 and that means you could end up missing out on important information if you’re tied up with other things. That’s why our property tracker allows you to follow your sale, purchase, property let or tenancy at a time that suits you. The service can provide you with information on website statistics and enquiries, viewing feedback and offers. If you use our fully managed service for your rental, you can keep track of any inspections, report any maintenance issues, and download any transaction history and statements at the click of a button.

Search for a property

Searching for your next property has never been easier. With 26 branches in Lancashire, West Yorkshire, North Derbyshire and the Rossendale, Ribble & Hodder Valleys there’s no shortage of properties to choose from. Simply fill in the location, price range and if you so wish, you can specify what property type and how many bedrooms you require.

Book a viewing

When you’ve found your dream home, you can book a viewing straight from the listing page. Simply click on the “Book a viewing” button, fill in your details and a member of staff will be in contact to arrange a time best suited to you. We can book viewings for the weekends too, making it even easier if you are busy during the week.

Register with us

Register your interest to find out about new properties first. You can set up automatic email alerts based on your search criteria and be notified as soon as relevant properties come onto the market. Save your favourite properties so they are easy to find once you log back in. You can also search for your ideal house and then save that search so you can run it again in the future with just one click.

Book a sales or lettings appraisal straight into our diaries

We now provide you with the option to visit our website and instantly book a valuation of your home directly into our diary. No waiting around. No having to make time in your busy day to ring us. No going back and forth with diaries trying to choose a convenient time. Simply visit our website 24/7 and book an appointment for our valuer to visit your home, directly into our diary the hassle-free way.

Live chat

If something crops up and you need us out of hours, we’re available 24/7 via our website using live chat. Simply visit our website, enter your query into the pop-up chat window. It doesn’t matter what time of day it is, or if it is the weekend.

Email/opening hours

With longer opening hours than other estate agents, our branch support team can answer any telephone or email queries from 8:30am – 8:30pm during the week and 10am-4pm at weekends. If the branch you are trying to reach is busy, don’t worry – the branch support team are there to help with those enquiries too.

Social media

We’re active on Facebook, Twitter and Instagram every day and will answer any queries you have almost instantly. We use our platforms to share property tips and tricks, local news and events as well photos of our company culture and events.

With all this technology at our fingertips it’s never been easier to find your perfect property whatever the weather, whatever the time of day or week. We know moving home can be stressful but we aim to make everything as easy as possible. If you would like to know more about any of these services, whether you’re a landlord, tenant, buyer or seller, please get in touch with us.

Winter Health Check for your Buy to Let Property

As the winter months close in, now is the ideal time to be thinking about protecting your buy to let investment.

The colder climate can wreak havoc, especially if your property is left empty for a period of time. You may be in the middle of renovating, or perhaps you have a vacant period where you are looking for a new tenant to take up residency. We have put together a handy guide to help you combat the potential risks this time of year can bring.

Check doors and windows for draughts and leaks

Making sure the seals to windows and doors are in good order will help to protect your home from plummeting temperatures and the additional rainfall that is to be expected in the coming months. Even if you do get a tenant moving in before the cold snap really takes shape it will also ensure that they are happy in their home as it will be easier to regulate the temperature.

Check the roof, chimney, gutters and pointing are in good condition

Most properties are relatively easy to visually assess the external condition. Look out for plant life growing from chimneys and gutters especially as this can cause distress to the surrounding areas, eventually weakening the brickwork and pointing which in turn will let in water and cause dampness. Plantlife inside guttering can cause the water to overflow and spill over the brickwork. You can also usually see if there are any slipped tiles or corroding pointing.

Assess the drainage and pipes around the outside of the property

Making sure that the drains are working effectively will again protect from water building up around the external brickwork and help to protect your property from water ingress. Since 2005 it became a UK requirement for gas combination boilers to use condensing technology to increase their efficiency. Condensing technology causes… you guessed it – excess condensation which needs to be drained. If your boiler has a condensate pipe which runs outside the property this is particularly prone to freezing when the temperature drops. This then, in turn, will cause the boiler to cease working. Prevention is always better than cure, so you can insulate the pipe with waterproof lagging. Be careful the lagging is waterproof because if it isn’t it will only add to the problem.

Arrange regular visits to the property

Visiting the property on a regular basis will help to reduce the potential impact that a problem can have on the property should an issue come up. It is also a good idea to make sure there are security measures in place to deter trespassers such as burglar alarms, CCTV, timed lights etc.

Arrange adequate insurance

Sometimes despite your best efforts to protect your property, things can happen that are out of your control. Check your insurance gives you adequate cover if the worst were to happen.

Dealing with these areas now will help to protect your property and ensure it survives the winter months.

At Ryder & Dutton we are delighted to offer you a bespoke range of insurance services tailored specifically for Landlords via Let Alliance. Comprehensive cover means you can place your worries aside.

For sale, to let, or not. That is the question!

The sale/to let board. The beacon of the property world, the useful marketing tool and the excellent means for attracting buyers or tenants who are instinctive and opportunistic.

As estate agents in Greater Manchester, West Yorkshire and Lancashire, in this article we draw upon our 100 years of property experience and delve into the pros of for sale/to let boards.

They attract attention to your home. Some savvy property hunters have been known to drive into specific areas and look for homes with for sale/to let boards. This highlights that having a board on your property can lead us to think that they’re more likely to see your home rather than a property without a board.

Boards are usually only associated with estate agents which again means they stand out to those specifically hunting for a particular house. They can also spark a thought process in someone’s head which could potentially lead them to making a choice to sell or rent out their home too.

You want people to know it is for sale/rent, this may seem obvious but not having a board up means people will overlook your property if they’re walking down the street and may mean missed opportunities every day. And although most people are looking online, you never know where that next lead may come from.

Word of mouth - Imagine the scenario; your friend is looking for a 2 bed house in the centre of town, near the train station and near to supermarkets and schools. Something in your mind pops up – “Oh! I drove past this house last night and it’s for sale! It’s on Beaumont road near that primary school and that supermarket is only down the road! Why don’t you have a look?” You saw a house when you drove home that evening and it just so happens to be the perfect property for your friend. You wouldn’t have known any different if there hadn’t been a board outside.

It helps a potential buyer or tenant that has seen the property online find it quickly when viewing. There’s nothing worse than going for a viewing and not being able to find the property. Although every effort is made to ensure you have the correct details for the property in question, things beyond our control can lead to things not going to plan on the day. Having the board there as a backup is not only useful for yourself but useful for the vendor or landlord.

It reinforces to a buyer or tenant that the vendor is serious about selling or renting. If you’re looking for a buyer or tenant you would surely want to make sure every potential client is aware of your property not just online but in the real world?

All in all, displaying a board upon your property is beneficial. At Ryder & Dutton we’ll make sure you are happy – if you’d like to speak to us about a board please do let us know.

Can I remortgage my house to buy another property?

Are you comfortably settled in your house and have been paying the mortgage now for quite some time - enough to start seeing the light at the end of the tunnel anyway? If this sounds familiar, you might now be considering what your next move could be. Does the prospect of owning a second house appeal to you? Daydreams of holiday homes, or perhaps a nice buy-to-let investment? Well, now could be the perfect time to explore your options and see if this dream could actually become a reality.

How does remortgaging work to buy another property?

Although you might not have the money saved up to put down a deposit on a second home right now, there are other ways you can still achieve this. Remortgaging is a common path many people take in order to buy a second property, but first, it’s good to understand how this works.

Equity

With every monthly repayment you make on your current mortgage, you are gradually shaving off more and more of your mortgage, and in the process, you’re building up the equity in your home. As the equity increases, you can remortgage and release some of the equity to put it towards other things, such as home improvements or, in this case, buying another property.

This is often a common choice for many looking to branch into the buy-to-let market as the equity you have can be put down as a deposit on a second property.

Using home equity to buy another house can be an effective way to use money that would otherwise sit tied up in your property. A mortgage adviser will look at your personal and financial situation before making recommendations on how you can achieve your ultimate goal.

Affordability

Releasing equity in your house to buy another one means that your repayments would be significantly larger than they have been so far. Your mortgage adviser will go through affordability checks with you when you remortgage but you’ll have to show that you can afford to pay these higher repayments on your current wage. Failure to meet these payments could result in the loss of both properties, so it’s important you’re honest and clear with your mortgage adviser.

Self-employed

If you have a different employment status i.e. contractor, freelancer etc. you might be concerned about going through the remortgage process. Your mortgage adviser will again be able to offer their expert advice when it comes to your remortgage decision. They'll take into consideration your whole situation, including your current income, outgoings, and clearly go through all your options so you can make an informed decision that’s right for you.

To find out more about remortgaging to buy a second property, please get in touch

Mortgage Advice Bureau