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Summer is certainly upon us, and with it comes warmer weather and longer-lasting days. It’s also the season when many people venture outside – something that is considered a luxury following successive lockdowns caused by the Covid-19 pandemic. With this in mind, it’s no surprise that a garden is now the number one must-have property feature for UK homebuyers, according to recent data from GoCompare Home Insurance. As a seller, putting your garden at the forefront of your marketing campaign could put you in a much better position than before. Below, we analyse the findings and list the most efficient ways to make the most of your garden before you come to sell. Gardens top the list of must-have features Gardens ranked as the top must-have property feature for the first time this year – knocking central heating off the top spot. The results of the GoCompare UK Property Must-Haves survey reflect the increasing importance Brits now place on gardens and outdoor spaces. The study takes place after a string of lockdown measures that resulted in people spending more time indoors to work and study. With restrictions easing, access to green space has skyrocketed in importance, meaning homes with gardens are in higher demand than ever before. A whopping 69% of respondents ranked gardens as an essential home feature. This is a vast improvement from the ranking in 2014, when gardens placed fourth on the list. What other features are important for buyers? While features such as central heating, double glazing and secure doors and windows retained roughly the same importance over the years, other big movers in the 2021 survey highlighted the importance of technology in the home. Perhaps unsurprisingly, access to 4G or 5G, good reliable broadband and mobile phone signal all ranked in the top 20. There was also a requirement for a property to have plenty of electrical sockets and room to accommodate a large flat screen TV. In the 2014 survey, only 10% of people thought the latter was important, compared with 45% in 2021. Making the most of your garden for a sale With research showing that the vast majority of buyers appreciate garden and outdoor space, it’s crucial that your garden is in top condition for virtual and in-person viewings. This means carrying out a range of basic, cost-effective tasks such as de-weeding, washing your patio, clearing away garden waste, sprucing up garden furniture, mowing the lawn and, now that the season calls for it, incorporating potted plants. If your garden boasts any features such as a barbecue area, pond or decking, then ensure they stand out as much as possible during viewings. Also, consider incorporating solar lights for some added flair to your outdoor space. This could particularly help when conducting evening viewings. No matter the size of your garden and outdoor space, ensuring it is neat and tidy can make it more inviting and, in turn, improve your chances of securing the right asking price and above. Here at Chimneypots estate agents, we are doing all we can to help our clients conduct business in a safe and secure manner. If you require further guidance on selling your home successfully in South Coast locations – such as Southampton and Portsmouth – please contact our team on 01489 584298. To find out what you could sell your home for, why not check out our instant online sales valuation tool?

A house isn’t just a home – it’s an investment. So when it comes to selling your property, you’ll want to make sure you receive the maximum return. The good news is there are lots of ways you can add value – whether it’s a big project like a loft conversion, or a simple task like giving the walls a lick of paint. If you’re thinking along the lines of a big project, research the ceiling value of properties in your area first. For example, if your house is worth £250,000 in its current state but the ceiling price in your area is £265,000, you’ll need to make sure that the work you carry out doesn’t exceed the £265,000 mark – otherwise you won’t see a return on it. Chimneypots offers a full valuation service, so if you’re thinking of selling your property, why not ask one of our estate agents to value it? We’ll be able to offer our expert advice to help you receive the best price for your home. Not ready to sell just yet? Take a look at the list below for top ways to add value to your home – both short term and in the long term. 7 Ways to Add Value to Your Home Here’s how you can add value to your home: 1. Reconfigure the layout Whether it’s reconfiguring your upstairs to add an ensuite bathroom, or knocking down the wall between your kitchen and dining room to create an open plan living space, changing the layout of your property is a great way to make sure your house meets the current tastes of the market. Removing a load-bearing wall shouldn’t cost more than £1,800, while knocking down a partition wall can be done incredibly cheaply, making reconfiguration a more cost-effective option than an extension. 2. Convert your loft Converting your loft doesn’t have to be a big job – in fact, you may not need permission if you’re planning on working within the current roof footprint. A good way to gauge whether you will receive planning permission is if there are properties with similar extensions in your neighbourhood. For a smaller scale project, install dormer windows in the roof – just make sure you consider additional costs, such as insulation, relocating your hot water tank, and installing a staircase. 3. Extend outwards A one storey extension doesn’t have to cost the earth. By extending into your back garden or side alley, you could easily turn an old galley kitchen into a workable space or create a utility room to wipe down muddy dogs and sort out laundry. If you already have a conservatory, it may be worth considering how much it would cost to convert it into a full extension, and if you don’t have a conservatory, perhaps look at constructing one as an alternative. 4. Fix any cosmetic problems Fixing cosmetic problems is a great way to add extra value to your property with minimal financial outlay. Whether it’s painting over damp issues (once the source of the damp has been identified and addressed) or filling in, sanding down, and painting marks and gouges in the wall, these kinds of fixes will really make a difference when an estate agent comes to value your property. 5. Boost your property’s kerb appeal You’d be surprised at how much of an impact increasing the kerb appeal of your property has on its value. Replace your garage door if it’s looking tired or the spring mechanism isn’t working properly. Paint your front door. Resurface your driveway if there are holes in the tarmac. Replace any fence panels that look rotten or unstable. Make sure your grass is cut and any trees and bushes are trimmed back. The list is endless! 6. Spruce up your bathroom Nobody likes a mouldy bathroom. If your bathroom is looking tired, there are things that you can do to tidy it up. Reseal around your bath or shower if its going off colour. Regrout your tiles if they’re looking scummy. Look at whether you need to install or replace your bathroom fan if you’re having an issue with mould, and wash and repaint the walls where any mould may have formed. 7. Declutter your home You can instantly make your home more attractive to potential buyers if you declutter. When you declutter, you create the illusion of more space and light – both attractive features for home buyers. By decluttering, you also make it easier for your potential purchasers to re-imagine your property with their belongings – this can actually make people believe that your house is worth more than its market value. Choose Chimneypots estate agents for your house valuation Here at Chimneypots estate agents we pride ourselves on our honest, expert service. We’ll ensure that your property is marketed at exactly the right price, and provide advice on how you can increase its value. In addition to our valuation service, we’ll use a range of marketing tools to get your property out there, and accept, reject, and negotiate offers on your behalf. If you’d like to talk to Chimneypots about your upcoming move, get in touch by calling 01489 584298.

With its longer days and warmer weather, summer has always been the season everyone looks forward to. Apart from summer blessing our skies with sunshine, summer is also a great time to sell a home. Summer has always provided the perfect opportunity to sell a home and, with a unique set of circumstances for this year, selling a house this summer is sure to be a breeze. Here at Chimneypots, we cover a variety of areas in Hampshire and Dorset which enjoy amazing summer weather. In this blog post, Chimneypots will tell you why summer is a great time to sell a home and why summer 2021 in particular means your hot property will be sold in no time. Stamp duty holiday extension On July 8 2020, chancellor Rishi Sunak announced a stamp duty holiday until March 31 2021. This year, the chancellor extended the stamp duty holiday in its current format until June 30 2021. Afterwards, it will still apply for lower-priced properties (up to £250,000) until September 30, after which the nil rate will return to the pre-holiday level of £125,000. With the extension until the end of June, and then the end of September for lower-priced homes, there is bound to be a huge rush of property buyers in the early summer and early autumn trying to take advantage of the tax break. Buyers could make a saving of up to £15,000 if they purchase a property before the extension ends. The significant savings being made by buyers during this period has meant more people are buying properties and this has pushed prices up. According to the Nationwide building society, UK house prices rose 7.1% over the past year – increasing the average property price to £238,381. Nationwide said the stamp duty holiday has helped to affect the timing of property sales and now first-time buyers are in a better position to afford a house after saving money during the lockdown. 95% mortgage scheme In another effort to keep the property market afloat during the pandemic, the 95% mortgage guarantee scheme was launched. The scheme is very similar to Help to Buy which ran from 2013 to 2016.  The 95% mortgage scheme was launched on April 19 2021 and will run until December 31 2022. The scheme has aimed to give buyers a boost while giving lenders confidence with a government guarantee. The need for only a 5% deposit to purchase a home is likely to see more buyers clamouring to get onto the property market, allowing sellers to get more money for their property thanks to this higher demand. It’s more appealing to move home in the summer months The (generally) pleasant weather in summer also makes it easier to move home and it means that buyers and sellers will be eager to close a property deal during the summer. Moving boxes and possessions on a hot summer’s day is more appealing than carrying out the same process on a cold and damp wintry day. Another reason why summer is a great time to sell a home is because many potential buyers will want their family settled into a new house before the new school term. Summer is the final opportunity to make sure that can happen, with potential buyers keen to have bought their new house before their children return to school in September. This makes selling in summer a great advantage for those who want to sell their properties quickly. With the sun shining and clear blue skies, summer will have your home looking its best and therefore makes it easier to sell. If you have a garden, you can really spruce it up to make a good impression on potential buyers. You can beautify your garden yourself or hire a professional to sort it out for you. According to research from Post Office Money, landscaping your garden can add 77% to the value of your property. Summer presents the opportunity to really allow a well-maintained garden to shine. Potential buyers will tend to look at properties online first, so great photos taken in the summer will make your property stand out from the crowd. Here at Chimneypots estate agents, we are doing all we can to help our clients during these uncertain times. If you require further guidance on selling your home successfully in South Coast locations – such as Southampton and Portsmouth – during the pandemic, please contact our team on 01489 584298.

Despite a turbulent year caused by the coronavirus pandemic, now is a great time to be a landlord. Lockdown is easing, temperatures are rising, and demand for new homes continues to rise – resulting in a rental market boom. Recent data from ARLA Propertymark shows the average number of new prospective tenants registered per branch rose for the third month in a row to reach 84 in March. With demand set to continue, there is a good chance that you can find suitable tenants to occupy your property, helping you to generate income quickly. Of course, there are a number of important factors to bear in mind. Below, leaning on information from ARLA, we list some top tips for first-time landlords looking to make the most from their buy-to-let investment. Safety first As a landlord, you are legally required to provide a safe and secure rental property. Smoke alarms are required on all floors of your property and carbon monoxide detectors must be installed in any room where solid fuels are burnt. These need to be tested and working prior to the first day of the tenancy. In date Gas Safety and Electrical Certificates should be a priority as copies of these must be given to the tenants along with a copy of the Energy Performance Certificate – which must have a minimum EPC rating of E. Preparing your property Whether you are letting your property furnished or unfurnished, think carefully about what you can provide. Ensure that you remove anything valuable or sentimental, and always remember that less is more. You should also think about the type of tenants you want. Family tenants are likely to stay for a few years and will have their own furniture already. However, if you’re renting to university students, it’s unlikely they’ll have accumulated enough belongings to furnish a house. Landlord license and insurance You must check if you need a landlord license from your local council before your property can legally be rented out. This legislation was introduced in 2006 with the main purpose of ensuring landlords maintain their rental properties to a good standard. Additionally, you will need to inform your buildings insurer that you’re renting your property out, or you risk invalidating your policy. Most standard buildings insurers don’t provide the protection you require as a landlord, so it’s worth taking out specialist landlord insurance. A good policy will cover a loss of rent, damage, legal expense and liabilities. Tenant referencing As a landlord, you will need to rigorously reference new tenants to check they are reliable and will be able to meet rent payments each month. Tenant referencing covers checks for credit eligibility, employer checks and previous landlord references. Tenancy deposit protection Your tenants’ deposits must be protected in one of the three government-authorised Tenancy Deposit Protection schemes – Deposit Protection Service (DPS), MyDeposits or the Tenancy Deposit Scheme (TDS). You will need to protect the deposit within 30 days of receiving it and provide the tenant with both the Deposit Protection Certificate and completed Prescribed Information. Failure to do so could result in you not being able to evict your tenant, plus the full return of the deposit and a fine of up to three times the value of the deposit. Regular inspections It’s crucial to undertake regular inspections of the property throughout the tenancy. Remember that you cannot enter the property without the tenant’s permission as this is classed as trespassing and is illegal, and all Covid-19 safety measures must be closely followed. It’s best practice to grant your tenants 24 or 48-hours’ written notice, and this should be stipulated in your tenancy agreement. Choose the right agent Perhaps one of the most important steps, make sure to choose the right letting agent for your needs. Researching an organisation that operates with Client Money Protection is a great place to start. It is advisable to meet your agent before going into business with them, either in person or over the phone. A letting agent who answers within five rings will be more likely to keep on top of your needs than somebody slower on the uptake. Fortunately, our dedicated team can offer this and more. Here at Chimneypots, we are doing all we can to help our clients during these uncertain times. If you require further guidance on letting your home successfully in South Coast locations – such as Southampton and Portsmouth – during the pandemic, please contact our team on 01489 584298. To find out how much you could be charging in rent each month, why not check out our instant online valuation tool?

2020 and the early part of 2021 has seen the majority of us spend more time indoors to adhere to the ‘stay at home’ restrictions imposed by the government. This has led to a shift in priorities among property buyers, with many searching for larger homes with significant outdoor space. With more people working remotely to uphold social distancing measures, it comes as no surprise that commuting has plummeted in the list of priorities. In fact, prospective buyers in major cities are enquiring about properties outside the city, with 52% of Londoners looking to move outside of the capital, according to recent figures from Rightmove. Here at Chimneypots, we take a closer look at the rise in popularity of coastal areas during the pandemic and explain how sellers can use this to their advantage when marketing their home for sale. Coastal areas replace London as the most-searched locations Rightmove’s data analysed how staying at home has affected where people want to live, where they are moving to, and the type of homes they are now searching for. An increasing number of city dwellers have begun looking to the coast, with Cornwall knocking London off the top spot as the most searched location for buyers. Meanwhile, Dorset jumped into the top 10 searched for locations this year. When looking at the second half of 2020, annual sales agreed grew by 69% in rural areas, compared to 49% in inner city urban areas. Prospective buyers looking for a garden – one of the top desired features in a home – have hit a record high, and the term ‘garage’ has been the most popular keyword used by home hunters. Regarding property types, sellers of five-bed detached homes have seen the biggest growth in the market, with average sales agreed up 38%, followed by four bed properties (up 28%). Sellers of five-bed detached homes in the South East have seen sales agreed increase by 44%, much higher than London’s average of 26%. Using coastal living to your advantage Larger homes in the coast, the countryside, or more rural areas, have proven to be the sweet spot in the market as people look to trade up for extra rooms, a garden or a garage. This, coupled with the beautiful landscapes these areas offer, can provide homeowners with added peace of mind, particularly in the warmer months when the outdoors looks its absolute best. If your home falls into this category, and is fortunate enough to have a sea view, this will need to be front and centre of your marketing strategy to attract potential buyers. For instance, homes in striking distance to the sea in the coastal cities of Southampton and Portsmouth should include relevant images and descriptions in their listings in order to entice potential buyers who are looking to escape urban areas. Of course, when the viewing itself takes place, whether virtual or in person, you should ensure plenty of reference to your proximity to the coast is included to really sell your home to prospective buyers. It is likely to be one of your main selling points and, as the research above suggests, can help you to achieve asking price or above. As more people seek out scenic coastal towns and villages to move to, sellers in areas across Hampshire and Dorset have a better chance of attracting a wider pool of buyers that are scrapping city life in favour of a quiet, peaceful lifestyle. Even if you can’t offer sea views or seaside living, now is still a good time to sell, with demand from buyers remaining high and conditions for sellers remaining favourable in light of the recent extension of the stamp duty holiday. Here at Chimneypots estate agents, we are doing all we can to help our clients during these uncertain times. If you require further guidance on selling your home successfully in South Coast locations – such as Southampton and Portsmouth – during the pandemic, please contact our team on 01489 584298. To find out how much you could sell your home for, why not check out our instant online sales valuation tool today?

When selling a home, there are a few things that arguably matter more than any other. One is getting enough demand and interest from buyers to actually get your home sold, while another is getting the best possible price for your property (and one that you believe is realistic and fair). Both these things could be affected if there are aspects of your house that have would-be purchasers running a mile or seeking a discount off the asking price. According to new research from Hammonds Furniture, noisy neighbours, pet smells, pebble dash, being near a pub and the notorious Japanese knotweed are some of the most undesirable features that would force buyers to change their mind or negotiate down the asking price. As many homeowners rush to sell their properties to take advantage of the extra demand from the stamp duty holiday and both favourable buying and selling conditions, the research has revealed the features that buyers are looking for and the things they are looking to avoid at all costs.  The two biggest things most likely to put a potential purchaser off a house are mould or damp on the walls (62%) and signs of a pest infestation (57%), which could knock a huge 20% off a property’s value. For a home with an average price of £250,000, that would be a massive £50,000 fall. Mild cases of mould, which can be fixed with a dehumidifier and some mould-resistant paint, are unlikely to affect a property’s value too dramatically, but very severe cases can. Additionally, pests can cause considerable and extensive damage, in particular rats that are prone to chewing through electrics and wooden beams, which would of course need repairing. Some experts suggest, depending on the extent of the damage done, that you could be looking at a decrease in value of between 5-20%. The above signs of disrepair and neglect will not only cost a lot of money to fix, they are also common and obvious ways in which buyers might be put off. On the other hand, a surprisingly large cohort of buyers said in the research that they are put off by features that can be quickly rectified.   Some 33% of people, for example, would be deterred if a house had a messy garden, something which could again knock up to 20% off the value of a property. Meanwhile, nearly a quarter (24%) would look elsewhere if the house had ugly wallpaper. Elsewhere, 19% of people said they would be turned off by holes in the walls from hanging pictures or paintings, while 37% of people said they would find pet smells off-putting. For 28% of buyers, a weak shower would make them reconsider a purchase. There are also a number of things that are outside of your control as a seller which can prove to be detrimental to the asking price of your property. Almost four in 10 (39%) claimed they would think again if a property had a ‘messy looking’ neighbouring house, while nearly half (48%) would reconsider if they could hear noisy neighbours (48%). A more surprising three in 10 people would dislike the thought of a pub nearby (32%), potentially because of the late-night noise this could create in certain areas. Less surprisingly, but still a bit oddly, some 14% would be put off buying a house if the road had a rude street name. Some house buyers also said they would be deterred by features that many others might find attractive. For example, 10% said they wouldn’t opt for a property if it had a swimming pool or hot tub, while 13% said they dislike laminate flooring.  You can see a list of the most off-putting features below.  Off-putting features   Mould/damp 62% Signs of pest infestation 57% Old electrics/wiring 50% Japanese knotwee 48% Noisy neighbours 48% A messy neighbouring house 39% Pet smells 37% A bathroom with no bath 34% Very close to a pub 32% A weak shower 28% A messy garden 28% Stained/ripped carpets 27% Pebble dash   25% Ugly Wallpaper 24% Holes in the wall from paintings 21% A rude street name 14% Bad Phone Signal 24% Laminate flooring throughout 13% A swimming pool/hot tub 10% (Hammonds Furniture) What would buyers pay more for? A garden tops the list of the things buyers would be willing to pay extra for. This space has taken on whole new importance since the pandemic and the various lockdowns this has triggered, which means almost half of all homebuyers (45%) now claim that they would pay more for outside space, closely followed by a garage (37%), a conservatory (31%) and a loft conversion (27%). Just 15% of people say they would shell out more to be close to public transport – again, this seems likely to have fallen as a result of the pandemic and much less of a need to commute – while only 13% said they would pay more for a log burner and just 8% of people would be swayed by smart meters in the home. It’s claimed that a nice-sized garden could add up to 25% more on a house price, especially if it’s well-maintained and is set up for summertime living. Driveways, conservatories and loft conversions (often used to create an extra bedroom) can also lead to a significant uplift in house prices. The features most likely to increase a house price can be seen below.  Outside Space (Garden)  45% Driveway 35% A conservatory 31% A loft conversion 27% New windows 24% Solar panels 23% A swimming pool 22% Underfloor heating 21% Balcony 20% Built in storage space 18% A basement 17% An attic 17% Close to public transport 15% Log burner 13% Open-plan living room 13% Smart Meters 8% (Hammonds Furniture) The importance of presenting your house correctly It’s typically not enough just to have a house with features that buyers like, and one that avoids all the things that puts them off, you also need to present it in the right way to give yourself the best chance of selling. This is even more important in Covid times, as the majority of people now have their first viewing online. Making sure your house looks fresh – with a fresh lick of paint doing wonders for a room if it’s looking tired – and ensuring any scuffs and marks have been dealt with can help your property to look its best before viewings, both online and otherwise. It’s also important to give your buyer as much information as possible about the house and the general area. What are the running costs, the local transport links, the nearby green spaces, the council tax band, the recycling days, etc. You don’t want to overload buyers with too much information, or useless information, but telling them where the nearest local convenience store is, or how to get to the local park in the quickest possible fashion, is likely to go down well. This is something your agent can relay in the virtual and then in-person viewings on your behalf. Your advertising photos and description should be top-notch, you should stick to neutral tones where possible to give your property the widest appeal, and you should ensure your home has had a good spring clean before anyone visits. Here at Chimneypots estate agents, we are doing all we can to help our clients during these uncertain times. If you require further guidance on selling your home successfully in South Coast locations – such as Southampton and Portsmouth – during the pandemic, please contact our team on 01489 584298. To find out what you could sell your home for, why not check out our instant online sales valuation tool.

In a Budget that saw speculation, rumours and theories like no other, Chancellor Rishi Sunak outlined a series of changes to uplift the economy during the coronavirus crisis. It came as no surprise that property featured front and centre. Sunak announced that the stamp duty holiday would be extended to the end of June, and details of the soon-to-launch mortgage guarantee scheme for property buyers. Other points of interest were the extension of the furlough scheme and business rates relief for the retail, hospitality and leisure sectors until the end of September. Below, we explain the extension to the stamp duty holiday and the rise in 95% mortgages and what this means for property buyers and sellers. Stamp duty holiday extended until June The Chancellor confirmed that the temporary stamp duty holiday would be extended from March 31 to June 30. From July 1, the holiday will apply only on properties up to £250,000 until the end of September, meaning that the pre-Covid stamp duty threshold will not resume until October 1. People purchasing property until June 30 can still benefit from savings of up to £15,000. After this date until the end of September, the maximum stamp duty saving available will be reduced to £2,500. The extension comes after many had raised concerns that home purchases could collapse if the holiday finished abruptly at the end of March. Currently, it is uncertain whether these dates will end with the dreaded ‘cliff-edge’ or will be tapered to avoid a last-minute disappointment for some buyers. As part of his announcement, Sunak said the holiday ‘has helped hundreds of thousands of people buy a home and supported the economy at a critical time’, but due to the sheer volume of transactions, many new purchases won’t complete in time for the end of March. However, with the extension now confirmed, many property purchasers will benefit from additional tax savings, helping to sustain the housing market for the rest of the year. Rightmove figures underline this, with estimates suggesting an additional 300,000 property transactions could pass by the end of June, allowing buyers to save £1.75 billion in total. Mortgage guarantee scheme to help first-time buyers Sunak also confirmed plans for the government to guarantee 95% loan-to-value mortgages to help first-time buyers get on the property ladder. The scheme, which was first announced by Boris Johnson last October, will enable all UK homebuyers to secure a mortgage up to £600,000 with a 5% deposit. Due to the increased level of lending, 95% mortgages usually come with higher interest rates, with buyers who pay a deposit of 40% or higher benefitting from the most favourable rates. The coronavirus pandemic saw low-deposit lending virtually disappear and the number of products for borrowers has only recovered to a fraction of what it was before March 2020. However, the government is hoping that the scheme will encourage lenders to start lending more to those purchasing a home for the first time. Although increased lending like this should be treated with caution, particularly during a global pandemic, more 95% mortgages could provide a much-needed boost for the property market. First-time buyers can enter the property market without having to save as much money. This, coupled with the extended stamp duty holiday, means they are in an even better position to fulfil their dream of stepping on to the property ladder much sooner. This has knock-on benefits for the sales market. If more buyers are interested in a seller’s property, the chances of selling quickly and for the best possible price are increased. Here at Chimneypots estate agents, we are doing all we can to help our clients during these uncertain times. If you require further guidance on selling your home successfully in South Coast locations – such as Southampton and Portsmouth – during the pandemic, please contact our team on 01489 584298. To find out how much you could sell your home for on the current market, why not check out our instant online sales valuation tool?

House prices are on the rise, despite the end of the stamp duty holiday nearing. A shift in housing priorities as a result of COVID-19 could be the reason, as well as some buyers anticipating an extension to the stamp duty holiday. According to Nationwide Building Society, the average house price rose by 0.7% to £231,068 in February, more than reversing January’s 0.2% drop. The stamp duty holiday prompted many buyers to bring their purchase forward in order to benefit from the tax saving, so it was expected that annual price growth would soften before the stamp duty holiday ends next month. One reason the property market has enjoyed some growth during the pandemic is that, with such drastic changes to the way we live our lives, many people have started to rethink what they want in a property. A shift towards home working has given buyers the freedom to move out of big cities and into more rural areas, while many would now put a bigger garden and space for a home office at the top of their new home wish list.   What is the stamp duty holiday?  Introduced last summer, the stamp duty holiday offers a complete tax saving on properties costing up to £500,000 and a reduction on stamp duty for homes costing more than that. It was set to expire at the end of March, but it’s thought that it could be extended for three months in Rishi Sunak’s budget on Wednesday. The chancellor is also expected to unveil a mortgage guarantee scheme that aims to help first-time buyers purchase a new home with as little as a 5% deposit on properties worth up to £600,000. The government will give lenders the guarantee they need to provide mortgages covering the remaining 95%. Details will be revealed on Wednesday. If you’re looking to sell your home or find your dream property, the expert estate agents at Chimneypots can help. We have years of experience successfully selling properties across Dorset and Hampshire, as well as helping people find their perfect new home. Get in touch with our friendly team today on 01489 584298.      

Despite the uncertainty of 2020, the housing market has enjoyed steady growth. House prices have been rising across the UK, so what will next year bring? Changing priorities While there is still a lot of uncertainty ahead in 2021, it’s predicted that the UK property market will stay strong. The COVID-19 crisis has seen a vast percentage of the UK spending the majority of their time at home. Our lifestyles have changed drastically, and many of us are now faced with the possibility of working from home long term.  This has created a shift in priorities for many homeowners, who may now be looking for larger properties with access to outdoor space. There could well be a surge in demand for homes that better suit our new way of life – whether that’s properties with a dedicated home office space, more space for children to play, or a garden to help break up long periods of being indoors. New year, new home The start of 2021 is likely to be a busy time for the property market, as buyers look to take advantage of the stamp duty holiday before it ends on 31st March. The stamp duty holiday began on 8th July 2020, as a way to give the housing market a boost in light of the coronavirus pandemic. Under the temporary rules, anyone buying a home under £500,000 is exempt from paying stamp duty. As this offers buyers a significant saving, it could be one of the driving forces behind continued property market growth in early 2021. Many will also hope to draw a line under 2020 and make a fresh start of things in 2021. This may well include a significant change, such as a new job or home.   If you’re looking to sell your home or are searching for your dream property, get in touch with the expert estate agents at Chimneypots today on 01489 584298. Our friendly team of estate agents has years of experience successfully selling properties across Hampshire and Dorset, as well as helping people find their perfect home.

The government’s Help to Buy scheme is changing. Our expert estate agents explain what this means if you’re looking to buy a new home.The Help to Buy scheme helps homebuyers purchase their perfect new-build property with as little as just a 5% deposit. The deadline for the current scheme is 15 December, and eligible applicants will then have until 31 March 2021 to complete their purchases. The new Help to Buy scheme From 16 December, the new Help to Buy: Equity Loan (2021-2023) scheme comes into effect. One of the main differences is that it will be limited to first-time buyers only. It will also introduce regional price limits, set at 1.5 times the average first-time buyer price in each region in England. So, to be eligible for the loan, homes will have to be below the set maximum price in their area. The aim is to keep prices of new homes closer to the average regional first-time buyer property prices and reduce the amount first-time buyers need to borrow.First-time buyers will still be able to borrow up to 20% (40% in London) of the cost of a newly built home. The loan is interest-free for the first five years, after which point interest fees start at 1.75% and rise each year. Buyers will pay a 5% (minimum) deposit, then use a Help to Buy mortgage to fund the remaining cost of the property. When can I apply for the new Help to Buy scheme? Buyers who are eligible to use the Help to Buy: Equity Loan (2021-2023) scheme will be able to reserve their new home from 16 December 2020 but will not be able to get the keys to move in until 1 April 2021. If you’re looking to sell your home or are searching for your dream property, contact the expert estate agents at Chimneypots today on 01489 584298. Our friendly team of estate agents has years of experience successfully selling properties across Hampshire and Dorset as well as helping people find their perfect home.

Mortgage complications in 2020 A survey of almost 1,300 UK homeowners and buyers has revealed some of the challenges people are facing within the property market at present. Of those people polled, more than 200 have bought a house in 2020, while over 300 are currently on the hunt for a property. The study undertaken by the Market Financial Solutions (MFS), uncovered that 46 percent of those who have bought a property in 2020 stated that they encountered significant delays or complications during their efforts to secure their mortgages – whilst prospective home buyers – those who are currently house hunting in 2020 have said that they are currently experiencing these same issues – these same house hunters, who currently make up 36 per cent of the people questioned in this new survey, have stated that it is likely that they may have to choose alternative finance options such as bridging loans when purchasing their home. Paresh Raja, CEO of MFS, said: “The stamp duty holiday has already had a positive effect on the UK property market, sparking much more activity among buyers and sellers. However, today’s research shows that many prospective homebuyers are unable to take advantage of this initiative. “Frustratingly, this is often due to the challenges of securing a mortgage, which is beyond buyers’ control. Many banks are treading carefully and, as a result, applications are taking longer to process and there is a higher chance of an application being rejected. This is putting property chains at risk of collapsing. “At this point in time, it is important that lenders keep lending – they must ensure buyers have access to the finance needed to complete on a purchase. Failing this, the Stamp Duty holiday will only have a limited effect.” In July 2020 we reported on some of the positives that the new stamp duty holiday would bring to the housing market and what those would mean for new homeowners, but it seems like the lingering effects of COVID-19 – and now the since-announced recession – has left a bitter taste in mouths of those who have recently purchased a new home during the pandemic, and current home hunters alike. If you’re looking to sell your home or are searching for your dream property, contact the expert estate agents at Chimneypots today on 01489 584298. Our friendly team of estate agents has years of experience successfully selling properties across Hampshire and Dorset as well as helping people find their perfect home.

Help to Buy scheme extended by 2 months The Help to Buy scheme, an arrangement where the government lends first-time buyers and existing homeowners money to make purchasing a newly-built home more affordable, was due to officially end in March 2021 with new homes needing to be finished by the end of December in order to qualify for the support. However, because many construction sites were effectively shut down for weeks due to the covid-19 lock down, this has now been extended by two months. This means new-build homes now have until 28th February 2021 to be completed in order for purchasers to benefit for the Help to Buy scheme. However, legal completion of purchases is still required by 31st March 2021 in order to be eligible for the scheme, though extensions until the end of May will be granted in certain cases for those who had a reservation in place before 30th June. Thousands to benefit from the extension Before the announcement, thousands of families were facing severe disappointment as the delays to construction meant their new homes would not have been ready in time to fulfil the deadline required by the Help to Buy scheme. However, with this new two month extension in place, those families will still be able to buy their new home. Housing Minister Rt Hon Christopher Pincher MP said the “announcement will help provide certainty and assurance for Help to Buy customers whose new homes have been delayed due to coronavirus and affirms the government’s commitment to helping more people to own their own home.” The positive effects of this announcement will also extend beyond those purchasing their own property. It will help to support the local job market and the wider economy by ensuring the construction and property industry keeps moving and fulfilling its capacity. The current Help to Buy arrangement is due to be replaced by an updated scheme on 1st April 2021 that will introduce property price caps and be restricted to first-time buyers. If you’re looking to sell your home or are searching for your dream property, contact the expert estate agents at Chimneypots today on 01489 584298. Our friendly team of estate agents has years of experience successfully selling properties across Hampshire and Dorset as well as helping people find their perfect home.