What are the costs of selling a home?

What are the costs of selling a home?  

For those who have little experience in selling a house, learning about the additional costs that are often associated with the process can turn the situation into a cost-prohibitive nightmare. But what are the costs of selling a home?

What costs are involved with selling a home? ­­­­­

There are three main costs that most vendors will find themselves being responsible for before a sale can take place.

Of course, depending on the circumstances there are likely to be other charges that are entirely dependent upon your situation but nearly all sellers will find themselves enlisting the services of the following:

An estate agent will be the first port of call for many sellers, acting as a hub of information in an effort to guide you through the house-selling process2. While estate agents tend not to be thought of very highly by many – due to the publicity surrounding the immoral behaviour of a small percentage of agents who try to make a quick buck – the majority of agents are trustworthy individuals who specialise in helping venders sell their home fast in their chosen area3.

While there are numerous national agencies who offer ‘region-specific’ representatives who are marketed as experts, it can often be very hard to prove the credentials of these individuals- whereas most local independent agents have managed to stay in business over the years due to a strong reputation and repeated recommendations within the local community2.

Estate agents are used by over 95% of sellers2 and are – more often than not – paid by the seller as a percentage of the selling fee, usually between 0.75% and 2.5% (plus VAT), but usually around 1.5% (plus VAT) 1. So, for a £150,000 house, the fee would be £2,250.

This system works well for agents and sellers alike as the less valuable a house is, the cheaper the estate agent fee. This approach is made all the more intriguing thanks to the prevalence of agents today who will only charge a vender if an actual sale is achieved1.

Of course, no buyer in their right mind would consider buying a house unless they had access to the full legal details of the house. This is why buyers will always find themselves contacting a solicitor or conveyancer, who are able to carry out searches for legal documentation that will help them to buy with confidence4.

As a seller, however, you will also need to pay legal fees to a legal representative to make sure that there the sale is carried out in the correct manner5. Conveyancing, however, is an extremely competitive sector and there have, in recent years, been a rising number of complaints from consumers regarding both the level of honesty and quality of service provided by less reputable firms1.

An independent property expert is likely to advise you to contact an independent solicitor or conveyancer directly, not to solely rely on the advice of a lender or estate agents5. While it is a grey area from a legal perspective, there are many examples of companies providing kickbacks to one another in an effort to corner the market6.

Once hired, a solicitor or conveyancer will guide you through the following documentation once you have accepted an offer on your home:

  • The TA6 form that will detail all an information that could affect the value of the property in the future including contact details, boundaries, disputes, complaints, proposed developments and existing utility access7.
  • The preparation of information related to the status of the title-deed – i.e. whether it is freehold or leasehold. If your home is leasehold, however, be prepared to pay a higher fee due to the extra administrative work. This information is included in either a TA7 or TA9 form7.
  • The TA10 form will detail what is and what isn’t included in a sale. This can include fixed appliances such as ovens and fridges7.
  • The TA13 form details everything related to the finalisation of the transaction including a declaration that the buyer will not inherit any claims for liability, and when the contracts will be signed, and the keys handed over7.

As mentioned earlier, it is often a good idea to hire and pay for independent conveyancer fees for this service, likely to be in the region of £500£1000 (inclusive of VAT) 1.

One of the most important figures to identify while attempting to sell a house is the most suitable asking price. While many estate agents will be able to provide you a ballpark estimate, this figure can be heavily affected by features that may only be obvious to a chartered surveyor.

Ignoring the advice of a surveyor and prioritising your estate agent’s estimate is never a good idea as estate agents may overstate the value of your home in order to gain your business, making your home harder to sell and costing your more in the long run.

A chartered surveyor uses various methods of arrive upon an asking price that is reasonable given the current market conditions. It is somewhat unsurprising therefore that there are occasions when a seller is upset that their home has not increased in value as they expected8.

The methods employed by a surveyor will include, but are not limited to:

  • Evaluating nearby sold house prices by comparing the house with similar properties in the same area that have recently sold9.
  • A structural report that will relay any information that could affect the value of the home. These can include the presence of dampness, structural movement and subsidence, as well as the condition of the roof and its supporting structure9.
  • The study of maintenance and upkeep that has been invested in the property9.
  • The value of, and quality of an extension9.

It is also important to state that a surveyor is not responsible for unidentified faults that are inaccessible. A quality surveyor of experience, however, is likely to mention possible issues that could be present based on the other information they have gathered.

Luckily for a seller, the cost of a valuation is much less than the costs of a Homebuyers Report – which is likely to be commissioned by a potential buyer1.

While certain independent surveyors will provide a fixed fee valuation, most jobs will be quoted for based on the value of the property – so expect to pay anything between £150 for a smaller home, up to £1,500 for a larger equivalent1.

Who pays stamp duty when selling a house?

Thankfully, stamp duty is not a cost that is attributed to the seller. Stamp duty is effectively a tax on the preparation of documents related to a house sale and is only relevant for a buyer who is buying a house worth more that £125,00010.

Is there any tax to pay when selling a home?

The necessity of a tax payment is entirely down to the situation of the individual who is selling.

The only tax that may need paying – other than VAT for employed services – is Capital Gains tax, and is a tax imposed on the rise in value of your house during your time of ownership11. This tax is not payable if the following applies to you:

  • The house being sold is the only home you own, and it has been your main residence since your purchased it11.
  • It has not been split and let out (this does not include a lodger, or roommate) 11.
  • It has not been used solely as business premises11.
  • The entire grounds (including all buildings) are less than 5,000m2 in area11.
  • It was bought solely to be flipped for financial gains in the short-term and not a residence11.

If these conditions do not apply to you, then you can enjoy Private Residence Relief and there is no charge11.

What are the other costs involved with selling a home?

Rather annoyingly – as many with experience of selling will be aware – there can be smaller costs that the seller is liable for, and these can often add up:

Energy Performance Certificate fees

An Energy Performance Certificate is a small survey that focuses on the environmental impact of your home. Brought into law on 1st August 200712, an EPC is carried out by an individual known as a Domestic Energy Assessor who uses software to give a house a score out of 100 based on its construction type, heating systems, loft and wall insulation, secondary heating appliances and glazing standards12.

When these certificates were introduced, a survey was likely to cost in the region of £120 (plus VAT), but as many estate agents have an individual on staff with the qualifications to perform the survey, the cost can often be as low as £30 to £40, and a generous agent will likely waive the fee. It is also worth noting that if an EPC has been performed in the preceding ten years, and there have been no structural changes that would affect its environmental impact for better or worse, then an EPC is not required12.

Removal fees

A seller can often be forgiven for forgetting to include the cost of removals into the house-selling equation as the focus required to obtain a sale makes the need to physically move your belongings a distant second priority.

Luckily, removal companies are a dime a dozen and tend to be experts at moving large items at high speeds with no damage. While you may occasionally hear about an individual hiring a van for the day and employing a few friends to help them out – for the sake of avoiding stress, most people will hire specialists.

Of course, the cost associated with removals varies on the amount of time needed to shift all your possessions. If you travel light, you will find yourself paying a little as £250, but if you plan on bringing your extensive collection of 1800s oak furniture., however, you could find yourself paying as much as £4,000 to £5,0001 – or sometimes even more.

Mortgage fees

If you have an existing mortgage, the chances are high that your lender will hope to keep your custom by allowing you to switch your mortgage to your new house with minimal stress. If you have found a more competitive quote for a mortgage from another lender on your new house, on the other hand, you will most likely find yourselves having to pay your original lender a mortgage exit fee13. This charge can often be contested but is predominantly in the region of £50£3001 depending on the small print in your original mortgage contract.

General cleaning fees

You didn’t think someone would buy your house without a little tidy-up, did you? As with so many purchases, the first taste is in the eye, and a messy home can often deter even the most enthusiastic buyer.

Yes, you can hire a team of cleaners for the day – and no-one will judge you if you do – but if you’re willing to put in a little elbow-grease, this is one part of a house sale that you can save money on.

So, how much does it really cost to sell a house in the UK?

Ultimately, the process of a house sale can be more expensive than many of us are led to believe. It is for this reason that so many sellers are so stubborn to listen to an agent advise them to lower their asking price – every penny counts.

There are, of course, many ways to avoid these costs – such as selling a house directly yourself instead of enlisting the services of an agent, or even carrying out removals and cleaning services themselves. But for the sake of ease, many vendors will pay for these services merely to avoid the accompanying stress – and the stress of needing to sell, especially when time is of the essence can often be too much to bear.

If you do need to sell your home in a short time frame, however, it is important to know the alternative ways available to you, and one of the fastest growing options for those who do not have the time to engage in the traditional house selling process is via the use of house buying companies such as National Homebuyers.

House-buying companies do not need to rely on lenders like an average buyer, and use their capital to purchase your home for cash directly, with many transactions completed within two weeks from the first point of contact, meaning that there is no waiting around for viewings, no charges for valuations or estate agents, and more importantly – a fast house sale.

House-buying companies are also a great option for those who simply can not sell their home due to construction or location-based issues, helping those who have struggled to find a buyer in the past.

Would you prefer to avoid the costs associated with selling a home? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property before it’s too late.

Sources:

1 Brazg, G. (2018). Complete Guide: The Cost of Selling a House. Available: https://www.theadvisory.co.uk/house-selling/cost-of-selling-a-house/. Last accessed 10th Nov 2019.

2 Woollsey, N. (2018). How to choose an estate agent. Available: https://moneyfacts.co.uk/mortgages/guides/how-to-choose-an-estate-agent/. Last accessed 10th Nov 2019.

3 Cheek, N. (2011). Are estate agents really that bad? Available: https://conversation.which.co.uk/money/estate-agents-bad-trust/. Last accessed 10th Nov 2019.

4 What Mortgage. (2018). Top five tips for choosing your conveyancer. Available: https://www.whatmortgage.co.uk/feature/top-five-tips-choosing-conveyancer/. Last accessed 10th Nov 2019.

5 Anon. (2015). Conveyancing process explained for sellers. Available: https://hoa.org.uk/advice/guides-for-homeowners/i-am-selling/conveyancing-made-simple-for-sellers/. Last accessed 10th Nov 2019.

6 Kirkman, W. (2018). Is your property lawyer getting a kickback? New rules force conveyancers to disclose referral fees. Available: https://www.thisismoney.co.uk/money/mortgageshome/article-6218909/Solicitors-referred-estate-agents-arent-telling-clients-paid-recommended.html. Last accessed 10th Nov 2019.

7 Cheung, C. (2019). Conveyancing. Available: https://www.which.co.uk/money/mortgages-and-property/first-time-buyers/buying-a-home/conveyancing-ag3rw2q052kz. Last accessed 10th Nov 2019.

8 RICS. (2019). The myth of ‘down valuation’ – does it truly exist?. Available: https://www.ricsfirms.com/glossary/the-myth-of-down-valuation-does-it-truly-exist/. Last accessed 10th Nov 2019.

9 McNulty, F. (2018). Legal Q&A: How does a surveyor value a property? Available: https://www.homesandproperty.co.uk/property-news/legal-qa/how-does-a-surveyor-value-a-property-a122566.html. Last accessed 10th Nov 2019.

10 Admin. (2019). Stamp Duty: The basics. Available: https://www.postoffice.co.uk/mortgages/stamp-duty. Last accessed 10th Nov 2019.

11 Government. (2019). Private Residence Relief – Capital Gains Tax when you sell your home. Available: https://www.gov.uk/tax-sell-home. Last accessed 10th Nov 2019.

12 Government. (2019). Buying or selling your home – Energy Performance Certificates. Available: https://www.gov.uk/buy-sell-your-home/energy-performance-certificates. Last accessed 10th Nov 2019

13 Maundrell, H. (2018). Can you reclaim your mortgage exit fees? Available: https://www.money.co.uk/guides/can-you-reclaim-your-mortgage-exit-fees.htm. Last accessed 10th Nov 2019.

How To Sell A House In A Slow Market

How To Sell A House In A Slow Market

Selling a house often involves bowing to the power of the influences that affect the property market. There are, however, certain things that you can do to learn how to sell a house in a slow market.

How does a slow market affect house sales?

The housing market is a strange entity. It can be affected by multiple factors for both better or worse and the results can often be dramatic – this is largely because the health of the housing market and sold house prices are forever at the mercy of consumer confidence.

A slow market, by definition, does not necessarily mean that the economy is in the throes of a recession. While a recession is defined as two consecutive quarters of negative growth¹, the property market will often fluctuate month to month as a result of legislation being changed, interest rate changes and even the weather – and as the property market is buoyed by consumer confidence2, any fears experienced en masse by the prospective house buyers or sellers in the UK can easily cause a slowdown in the housing market.

For example, potential sellers are more likely to hold on to their homes if they read reports about the market beginning to stagnate, as this can have a devastating effect on the size of the purchase offers they receive. Moreover, if they fail to sell within a reasonable timeframe, once the market recovers, they may be forced to drop their asking price in order to counter the suspicions held by potential buyers that it hasn’t sold because it has underlying issues3.

Potential buyers are also less likely to be searching for a new home if they read that the market is stagnating as they know the selection will be poorer. However, there will be certain savvy buyers who will use a slower market to their advantage by providing sellers with low-ball offers, hoping that some of them will be desperate enough to sell4 – although this practice is becoming less common.

How does a slow property market affect the economy?

Of course, when the market is moving slower than it should, there are often wider consequences for the country’s economy as a whole:

  • Businesses such as estate agents that depend on the positive buoyancy of the market can find themselves in a worrying financial position leading to branch closures5 and limiting the competition outside of big cities.
  • The Bank of England can be forced to change interest rates, limiting the cost to consumers of the charges that banks pass on when they borrow from one another6, the consequences of which mean that…
  • Banks may become unwilling to lend during these times of crisis7, hindering the economic flow of money.
  • Depending on the length of time that the market is considered weak, house price growth can fall8.

As two thirds of all properties are owned (or mortgaged), and only one third are rented it is fair to say that a large amount of personal wealth is tied up in property ownership, and if homeowner’s assets fall in value, they are less likely to be spending their expendable income on other items and experiences such as meals out, concerts and various luxuries, causing a slowdown in hospitality and other manufacturing industry sectors2.

What steps can I take to sell my house in a slow market?

If you’re already trying to sell your home fast in difficult market conditions, it is important to establish whether or not the failure to sell is a result of the slow market itself – or whether there are other factors at play. This means bearing the following in mind:

  • Be realistic with pricing – valuing a house is never based on guess work, but rather comparables from the same area while also taking into account any unique structural changes or décor. While people may believe that they have had work done on their home that adds value, the additions they have made may not be of interest to potential buyers, and a house is only worth what a buyer is willing to pay9.
  • Choose the right agent – choosing an agent to help you sell your home is one of the most important steps in the traditional house-buying process. Many sellers find themselves being swayed by the competitive prices of agencies who cover the entire country10, realising too late that they would have had more luck with a local agent with more experience selling in their area9.
  • Keep your home at showroom quality – while it can be a pain cleaning and tidying up as you go, keeping your home at showroom quality allows you to be ready for a viewing, no matter when the call comes. A clean and tidy house will also fetch a better price than a home that isn’t cared for9.
  • Take great pictures – if you know that you will be selling your home in the near future, make sure that you are pro-active and take some photos of your home on a bright summers day with clean windows and a nicely presented yard or garden. If you need to sell your house in a slow market and it’s the middle of winter, your home won’t seem as inviting if buyers can’t see it’s potential.
  • Be personable during viewings – when prospective buyers attend a viewing, it is only fair that they are given the space to voice both their objective and subjective opinions – and as the owner, you may not always like what you hear so it’s important to give them space to look around without interference. Make them feel welcome upon arrival, and when they do ask questions, respond politely and informatively11. In a similar fasahion to buying a car, if a seller comes across as polite, calm and intelligent, this gives you confidence that the car has been well maintained and cared for, and you are more likely to pull the trigger on a purchase – and the same is true for housing.

I Need to Sell My House Fast, What Are My Options?

There are some situations where regardless of the effort you invest, your house still refuses to sell via the traditional methods. So, what are your options if you need to sell your home fast during a slow market?

Auction Houses are another popular way of presenting your home to prospective sellers. Similar to estate agents, auctioneers will take a percentage of the profit – often between 2-3% – so it is in their best interests to sell for as higher price as possible.

However, due to the amount of work necessary for an auction house to market your home before the auction itself, even if your house fails to sell you will still be liable for their costs – often in the range of £1,200-£1,50012. However, there are many auctioneers across the country, allowing you to find a local business that knows your area well.

It is worth mentioning that auction houses are usually frequented by investors, looking to pick up a bargain for renovation purposes12, as well as buyers looking for homes that are non-standard and a bit quirky. For these reasons, standard homes can sell for as little as 40% of their full market value.

Online property portals such as Purplebricks or YOPA are able to sell your house via their websites at a fixed fee, as opposed to a percentage-based fee that an estate agent would normally require. However, as with many great offers, there are strings attached.

Many online estate agents require you to use their own services for valuations – and these services often require additional fees. There have also been numerous complaints upheld by the advertising watchdog in regard to unclear advertising. An example of this is when the fixed fee itself is payable whether or not your house manages to sell, and Purplebricks’ 2016 claim to save a seller an average of £4,158 in fees versus standard estate agents was heavily critiqued because the claim was based on commission figures that had been published five years previously13.

While there are trustworthy companies out there who are willing to help you sell your house, it’s important to remember that sometimes, the client is also the customer, and they always intend to make a profit. So make sure you read the small print before signing on the dotted line.

Thankfully, there is another way to sell your home without having to deal with additional commission fees, and this is through the use of house buying companies.

Companies such as National Homebuyers are capable of selling your home in as little as two weeks from the first point of contact – which is great for those who need to move house due to a sudden change in personal circumstances. National Homebuyers will buy any house for cash, regardless of condition or location, and always for a competitive price – even offering the seller additional financial support to cover any legal fees associated with the sale.

With an ever-increasing number of satisfied customers, why not make an enquiry and see how easy the house selling process can be?

Are you worried that the condition of the housing market could be affecting the sale of your home? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property before it’s too late.

Sources:

¹ BBC (Anon) (2008) Q&A: What is a recession? Available: http://news.bbc.co.uk/1/hi/business/7495340.stm. Last accessed 28th Oct. 2019.

2 Anon. (2018). How does the housing market affect the economy?. Available: https://www.bankofengland.co.uk/knowledgebank/how-does-the-housing-market-affect-the-economy. Last accessed 28th Oct 2019.

3 Anon. (2017). Making an offer – and haggling over the price. Available: https://hoa.org.uk/advice/guides-for-homeowners/i-am-buying/making-an-offer-and-haggling-over-the-price/. Last accessed 28th Oct 2019.

4 Smith, K A. (2018). Should fear of the next recession keep you from buying a home?. Available: https://www.bankrate.com/mortgages/buying-a-home-before-recession/. Last accessed 28th Oct 2019.

5 Kollewe, J. (2019). UK estate agents at their gloomiest for 10 years, says Rics. Available: https://www.theguardian.com/business/2019/feb/14/uk-estate-agents-house-prices-are-at-their-gloomiest-for-10-years-says-rics. Last accessed 28th Oct 2019.

6 Anon. (2018). Interest rates and Bank Rate. Available: https://www.bankofengland.co.uk/monetary-policy/the-interest-rate-bank-rate. Last accessed 28th Oct 2019.

7 Richards, K. (2019). The Financial Crisis – Changes to Lending Policies. Available: https://www.cashfloat.co.uk/blog/money-borrowing/crisis-changes-lending-policy/. Last accessed 28th Oct 2019.

8 Canocchi, C. (2019). House prices grind to a halt as Brexit chill extends beyond London and the South East to slow property markets across the UK. Available: https://www.thisismoney.co.uk/money/mortgageshome/article-7524071/Nationwide-House-prices-grind-halt-Brexit-chill-extends.html. Last accessed 28th Oct 2019.

9 Thomas, H. (2018). How to get your home sold in a slow property market: From painting the front door, to how to price it right… tips to make your move happen. Available: https://www.thisismoney.co.uk/money/mortgageshome/article-5542545/Selling-house-paint-door.html. Last accessed 28th Oct 2019.

10 Dare-Hall, Z. (2019). Looking to move but can’t sell your home? How to make a deal in this slow market . Available: https://www.telegraph.co.uk/property/uk/tweak-asking-price-offer-sweetener-sell-home-slow-market/. Last accessed 28th Oct 2019.

11 Bennett, G. (2019). How to sell your home in a slow market. Available: https://www.thetimes.co.uk/article/how-to-sell-your-home-in-a-slow-market-t9839wn93. Last accessed 28th Oct 2019.

12 Cheung, C. (2019). Property auctions. Available: https://www.which.co.uk/money/mortgages-and-property/first-time-buyers/buying-a-home/property-auctions-athvb3j7lmd4#headline_8. Last accessed 28th Oct 2019.

13 Dean, S. (2017). Purplebricks apologises for repeating banned claims after share price falls 7pc. Available: https://www.telegraph.co.uk/business/2017/08/03/purplebricks-apologises-repeating-banned-claims-share-price/. Last accessed 28th Oct 2019.

When is the best time to sell a house?

When is the best time to sell a house?

Selling a home has long been known to be one of the most stressful experiences you can go through. However, with a little bit of research, it is possible to increase the saleability of your home and make life a little easier.

What time of year do homes sell quickly?

If you’re deciding whether to sell your home and would like to know the best time to sell, a quick chat with anyone who works in the property industry will reveal that there two periods each year that are considered the best time to sell. But why is this?

Those who are lucky enough to live in countries with a warm climate and dependably long days often don’t realise how good they have it. In the UK, the colder weather and varying hours of sunlight are a huge hurdle for those who are trying to present their home in the best way possible1.

Similar to attempting a sale at an exhibition, your house is a product as well as an asset, and to engage a consumer – or in this case, a potential buyer – it’s always important to get the lighting right and portray your home as a product worth buying. The problem is that British winters appear to go out of their way to shroud your home in darkness 18 hours a day – making any effort you invested in increasing its aesthetic power feel like wasted time1.

With longer hours, the number of viewings you are able to fit into a single day increases, and the more willing potential buyers will be to attend them2.

As a result, many within the industry prefer to choose their optimal selling times based on the season.

Is there an optimum season for selling?

Spring is widely considered to be the best time to sell a house. This is thanks to the mental boost many people experience as they head out of the colder months and towards the warm embrace of summer. This seasonal shift has, in the past, been known to act as a catalyst for buyers and sellers alike to spring into action – and the resulting increase in sales, and increase in house prices across the UK reflects this3.

While it is entirely possible to sell a home in winter, if you need to sell your home fast, you may be in for a disappointing result – this is not to say that you can’t sell your home fast but you may be forced to accept an offer below that which you expected4.

Many people – wrongly – believe that summer can be a great time to sell their home, which is understandable given the extra hours of daylight. However, summers are often an inconvenient time for buyers to look for a home thanks to the likely increase of spending on holidays and outdoor activities – and if they have children, dealing with a house move during a school holiday can often be too much stress to bear5.

While autumn is the best ‘runner-up’ with regard to seasonal selling, it still pales in comparison to spring in terms of the number of active potential buyers5.

Is there a best month to sell a house?

The worst month to sell a home is undoubtedly December due to the added complications that arrive with the festive period1. With shorter, darker days combined with school holidays and the extra expenditure on meals and presents – few buyers will be considering a purchase until the new year is in full swing6.

Obviously, you can place your house on the market during December but by time February rolls round, many potential buyers will find themselves asking why your home has been on the market for two months without a sale.

In a buyer’s mind, if a house has been on the market without a sale – then it’s not worth taking a chance on unless the sold house price is substantially lower than it was originally4.

The best months to sell a house, however, arrive as winter draws its last breath – and with so many things in life, it appears to be the early bird who catches the worm6.

Winter comes to an end towards the latter half of March, so those who make sure that their house is listed with an agent and displayed on a property portal such as RightMove are likely to enjoy higher levels of success than those who bide their time5.

In fact, there are industry professionals who believe that you should begin to advertise your home as early as late February, although the general consensus for the best month to sell your home is either March or April.

At this time of year, children are in school, the clocks have just gone forward and buyers are preparing to hit the market hard. And thanks to the number of properties available to them, purchases tend to happen faster than you might think, which is why it is vitally important to make sure your own home is listed.

In June there can often be a dip in market activity once the first wave of completed sales has occurred, rebounding somewhat for a brief period in July.

Of course, market conditions can fluctuate from year to year – but traditions do not – so if you want to have the greatest volume of potential buyers attending viewings, go with the crowd and stick to March or April.

Is there a best day to sell a house?

Interestingly, yes there is.

While a single day from any given month can not be pin-pointed as being ‘the best day to sell a house’, there is a lot of evidence to suggest that the day of the week you choose to put your house on the market can make a huge difference to the time it takes to sell.

In 2017, Which? Money analysed 12 months of data from the Land Registry and found that houses placed on the market at the beginning of the week were selling up to a month faster than those placed on the market at the weekend7.

In fact, properties that were listed on a Monday sold after an average of 176 days – whereas homes that were listed on a Sunday took an average of 213 days7. But why is this?

Many people try to make the most of their weekends, and therefore tend not to spend as much time in front of their phone, tablet or computer browsing properties as they would during the week1. This means that if you publish a listing over the weekend, once the masses start searching for properties after work on a Monday, your home is likely to become buried beneath the newer listings from if a user decides to sort by new.

But why is it important to sell your house fast?

In essence, the longer your house stays on the market, the less saleable it is, and the more likely you are to have to reduce your asking price in order to compete with the fresher listings that have appeared8.

When is the best time to sell your house?

Of course, while biding your time for the perfect moment to sell is great if you aren’t in a rush – life can often throw you a curveball, forcing you to sell as soon as possible.

In these situations, many individuals have found themselves benefiting from the services of house buying companies such as National Homebuyers.

National Homebuyers specialises in expediting the house buying process in order to help those who are unable to wait for a sale through the traditional house selling process.

The benefits of using a house buying company is that you will always receive a non-obligatory offer, regardless of location, situation or structural condition – helping you to bypass the established delays associated with valuations and Homebuyers Reports, allowing you to move on with your life9.

Selling a home is never an easy task to undertake, but it is important to remember that there is an immense amount of luck involved in marketing your house. It often depends on your property’s visibility in the marketplace via your agent and accompanying internet portals such as Rightmove, as well as being lucky enough to have the appropriate users in the market for a home such as yours at any one time.

If, however, you are not compelled to sell as a matter or urgency, following the advice in this blog should give you the best chance to sell in as shorter time frame as possible.

Need to sell right away? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property before it’s too late.

Sources:

1 Brazg, G. (2016). When Is The Best Time To Sell Your House?. Available: https://www.theadvisory.co.uk/house-selling/best-time-to-sell-house/. Last accessed 11th Oct 2019.

2 Butterworth, M. (2016). What is the best time of year to sell your home?. Available: https://www.dailymail.co.uk/property/article-3628998/When-best-time-sell-home.html. Last accessed 11th Oct 2019.

3 Clark, Ele. (2019). What will Brexit mean for house prices?. Available: https://www.which.co.uk/news/2019/10/what-will-brexit-mean-for-house-prices/. Last accessed 11th Oct 2019.

4 Osborne, H. (2012). Would a reduced house price deter you from buying?. Available: https://www.theguardian.com/money/2012/mar/14/reduced-house-price-deter-buying. Last accessed 11th Oct 2019.

5 Anon. (2016). When is the best time to sell my home? . Available: https://hoa.org.uk/advice/guides-for-homeowners/i-am-selling/when-is-the-best-time-to-sell-my-house/. Last accessed 11th Oct 2019.

6 Chandler, D. (2018). What’s the best time of year to sell a home?. Available: https://themortgagereports.com/44135/whats-the-best-time-of-year-to-sell-a-home. Last accessed 11th Oct 2019.

7 Calver, T. (2017). The best day of the week to put your house on the market. Available: https://www.which.co.uk/news/2017/03/the-best-day-of-the-week-to-put-your-house-on-the-market/. Last accessed 11th Oct 2019.

8 Fahy, L. (2019). 5 Reasons Your House Is Not Selling & What To Do About It. Available: https://moneytothemasses.com/owning-a-home/buying-or-selling-a-home/5-reasons-reasons-your-house-is-not-selling-what-to-do-about-it. Last accessed 11th Oct 2019.

9 Brazg, G. (2016). I Need to Sell My House Fast, What Are My Options?. Available: https://www.theadvisory.co.uk/sell-house-fast/. Last accessed 11th Oct 2019.

How to sell your house in winter?

While many property professionals prefer to advise their customers not to aim for a winter house sale, many vendors find that it is unavoidable for a variety of reasons. Luckily, the chances of selling a house in winter aren’t low as many people believe.

When is the best time of year to sell a house?

There are many people who like to pass on their opinion of the best time of year to sell a house based on their prior experience. Fortunately, we don’t have to rely on the subjective approach to the matter thanks to the vast amounts of data available from estate agents, lenders, banks and conveyancers.

Without a doubt, if you can afford to wait until it comes around, then March is always the best time of year to sell a house1.

Why? During March, the hours are beginning to get longer, allowing for more viewings and more natural light to help your home looks its best. Furthermore, with the onset of spring people are generally more jovial and if they wish to buy, they prefer to do it before summer arrives.

There are certain individuals who believe that selling a home in January is a great idea as it is the start of a new year and the Christmas holiday celebrations have been and gone. However, while certain types of valued property can sell early in the year such as one or two bedroomed flats or houses2 – often due to young people having ‘enjoyed’ one Xmas too many in the family home – but more often than not, you will have lower levels of success than in March.

Generally, you want to sell your home when the majority of buyers are looking, and they won’t be doing so when they’re busy – that means school and Christmas holidays are out. Buyers are also more likely to consider purchasing if they can attend a viewing in the evening after work while there is still daylight outside.

This is why many professionals will push their clients to sell at the beginning of spring, and if not aim for early autumn once the schools re-open3.

Why selling a house in the winter is smart

  • The benefits of selling your home winter always start with the obvious answer – there is a huge lack of competition amongst sellers4. Many of those who aren’t in a rush will be hanging around for the March sales-window, without realising that the increased competition will always leave the sold property prices in favour of buyers.
  • People will always need to buy a home, regardless of time of year. If an individual decides to permanently move to a new house as part of a career choice, they may believe that there’s a good deal to be made during the market’s quieter seasons.
  • Solicitors, conveyancers and agents tend to be busier during the warmer seasons, as do those intending to sell. This often leads to house moves getting delayed due to lengthy chains. In winter, this is generally much less of a problem.
  • With colder weather, people are more likely to spend time at home on the internet browsing properties – making newly added properies stand-out.
  • Stay heated – during viewings, the contrast between the cold weather outside and the warm temperatures inside your home will make your property seem much cosier and welcoming than during the summer months5.
  • People who are willing to come for a viewing when it’s the middle of winter tend to be a lot more serious about purchasing than the ‘serial-viewers´ in summer, who often visit homes on sale solely out of curiosity.

Will Your House Sell in the Winter?

The ancient Chinese general and philosopher Sun Tzu once said that “if you know your enemy well and know yourself, you need not fear the results of a hundred battles”. And this is very true for those who wish to beat their competitors to sell their house during winter first. So, yes, it’s definitely possible to do – but only if you exploit the benefits of being on the market when the pickings are slim.

Those who own cheaper houses such as one or two bed flats and house can certainly prosper as smaller homes tend to be bought by younger people who can’t face another holiday season at the family home, and so tend to shift quite quickly2. Larger houses can take longer, but that doesn’t mean it’s a lost cause to attempt to sell in winter.

Although miserable and cold, winter can benefit those sellers who are savvy enough to realise that in this cold period, many potential buyers would prefer not to be traipsing up and down the high street looking through estate agents’ windows in the rain.

Of course, what many people forget, is that you can ALWAYS sell your home in the winter if you think outside the box. For a large number of homeowners, the need to sell can be extremely time-sensitive – and for that reason, many owners are finding themselves discovering the benefits of selling to a home-buying company.

The benefits of home-buying companies such as National Homebuyers is that from first point of contact, the sale will often be completed in as little as two weeks, allowing the buyer to regain capital in a short space of time.

Another advantage is that home-buying companies are not put-off by certain details that your average buyer may be deterred by; such as distance from shops, unappealing paintwork and structural issues etc.

The benefits of selling in winter are far-reaching for vendors, especially when safe in the knowledge that the people who are thinking about buying a home will be spending the cold evenings browsing web portals such as Rightmove, eMoov and Purple Bricks, so maybe it’s worth considering how to make your home stand out from the other listings?

Tips for selling your home fast in winter

So, you want to ensure a fast winter house sale? Thanks to the ‘ever-wonderful’ weather in the UK, many property market professionals have shared some fantastic ideas that can help you tip the odds in your favour:

  • By adding attractive outdoor lighting to your home for dark photos in winter, you can make the entrance seem much more inviting that the average house, helping it to stand out in photos. Many designers consider this ‘kerb appeal’ to be extremely important5 – especially in town houses – as it always adds an element of prestige.
  • Why stop at external lighting? By brightening up your home with a variation of direct, indirect and candle sourced room lighting, you can make your home seem especially alluring to those looking to buy a new winter house6.
  • Make sure you decorate for the season. Many sellers try to go for the sterile approach that works so well in summer. Due to joint consciousness of the human condition, however, we seek out comfort and cosiness when it is cold outside7, so try adding touches such as a cosy sofa throw or an attractive rug in the bathroom? Remember though – don’t let your personality be reflected in these simple ideas.
  • Ensure that your garden is kept tidy – even though it is unlikely to be in use during winter, it should still look attractive when it is viewed from inside the house.
  • Odours can often be easier to notice when you try to sell your home in the winter. This is because moisture builds up inside the home from coats, shoes, and of course – pets. You can easily use a dehumidifier to dry the air, but these can be costly. An easier way to cover up the odours is to use the old trick of fabric softener or furniture polish on heated radiators8. Thanks to how drift-heating works, within an hour your home will be showroom fresh.
  • Take the time to sand and varnish external window frames and sills, while also cleaning the windows – a dirty façade can often be emphasised by accident in a photo depending on the way it is processed.
  • Ensure that any photos on your listings are free from clutter – nobody wants to move into a disaster zone.
  • Take photos of your home during the summer for use in the winter – it’s always important to show how wonderful your home can look all year round.

Are you looking to sell your home during the winter? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property before it’s too late.

Sources:

1Turrill, K. (2017). Selling your home? This is the best MONTH to put your property on the market. Available: https://www.express.co.uk/life-style/property/794435/selling-your-home-house-tips. Last accessed 24 Sept 2019.

2Brazg, G. (2016). When Is The Best Time To Sell Your House? Available: https://www.theadvisory.co.uk/house-selling/best-time-to-sell-house/. Last accessed 24 Sept 2019.

3Norwood, G. (2010). How to sell your house in the autumn market. Available: https://www.telegraph.co.uk/finance/property/buying-selling-moving/7964544/How-to-sell-your-house-in-the-autumn-market.html. Last accessed 24 Sept 2019.

4Butterworth, M. (2016). Want to sell your home this winter? Follow these seven tips to win over buyers and get it sold. Available: https://www.dailymail.co.uk/property/article-3960370/Seven-tips-sell-home-winter.html. Last accessed 24 Sept 2019.

5Anon. (2017). How to sell your home in winter. Available: https://hoa.org.uk/2017/11/how-to-sell-your-home-in-winter/. Last accessed 24 Sept 2019.

6Robson, I. (2017). Selling your house this winter? 9 tips to tempt buyers to make an offer. Available: https://www.chroniclelive.co.uk/news/property-news/selling-your-house-winter-9-13973477. Last accessed 24 Sept 2019.

7Harris, B. (2015). 10 Ways To Create A Cozy Home For Winter. Available: https://www.forbes.com/sites/houzz/2015/12/10/10-ways-to-create-a-cozy-home-for-winter/. Last accessed 24 Sept 2019.

8Brennan, S. (2016). Store bedding in a pillowcase, clean radiators with fabric softener and wet wipe the carpet: Women reveal their VERY clever life hacks for busy mothers. Available: https://www.dailymail.co.uk/femail/article-3790960/Women-reveal-clever-life-hacks-busy-mothers.html. Last accessed 24 Sept 2019.

What Does a Recession Mean for House Prices?

With rumours growing over recent months surrounding the possibility of another severe recession taking place sometime in the near future, many homeowners are asking how this could affect the value of their home.

What is a recession?

If you have lived through the eighties, nineties and noughties – it’s more than likely that you will have been experienced the consequences of a recession. But what exactly is a recession?

In the UK, a recession takes place when the economy experiences two consecutive months of negative growth¹. Negative growth is when the GDP – or gross domestic product – falls over a six-month phase¹.

Using this definition, it can be shown that over the last 70 years, there have been six clear recessions that have had a negative effect on the UK economy – 1974, 1975, 1980, 1981, 1991 and 2008².

A recession itself can be short-term, but its effects can certainly be felt for years after, especially in areas of moderate to severe deprivation. However, the way a recession affects certain industries often depends on the time during which it occurs.

During the Great Depression in the 1930s, for example, it was recent introduction of the gold standard that caused the most suffering, putting a strain on many financial institutions, and ultimately leading to the UK leaving the gold standard in 1931³.

In the 1970s, the political fallout of the Yom Kippur War led to an embargo on oil products from wealthy Arab nations, almost quadrupling the cost of fuel overnight and leading to many companies in industries that were reliant on a steady flow of the resource to collapse within weeks.⁴

The latest recession that took place in the UK was the 2008 ‘Great Recession’ as a result of the sub-prime mortgage crisis by banks on both sides of the Atlantic and is considered the worst financial crisis since the Second World War. During this time, the unemployment rose by a shocking 8.3%, and manufacturing output fell by 7% – the worst statistics since 1994⁵.

It was during this time, however, that many financial banks and lenders found themselves needing to be bailed out by the government, leaving those who had borrowed money from these lenders for purchases such as housing mortgages in dire straits6.

How does a recession affect property?

The effect that a recession has on property is often dependent on the rate of inflation leading up to the crisis itself.

In the decade leading up to the most the financial crisis, the value of sold house prices grew sharply creating a bubble that enticed many investors and homeowners to place themselves in position of unnecessary risk – buoyed by the confidence of the lenders who were willing to grant those without a sizeable deposit up to 95%-100% contracts7.

For those who bought their homes closer to the turn of the century, the profit they had made through sky-rocketing inflation counter-balanced the fall in house prices that occurred as a result of the crisis. Unfortunately, many who had only bought within the short period of time leading up to the recession – especially those who took high-risk mortgages – found themselves in negative equity with high interest repayments they could not afford.

 

Is a recession a good time to sell a house?

Whether or not selling a house during a recession is a good idea is very dependent on your situation. If you live in a wealthier area such London, then it is more than likely that the value will recover quite quickly once the recession is over. If, however, you live in an area that is less in-demand by buyers, the likelihood is that you could be waiting more than a decade for values to return to normal.

For example, as late as September 2018, while average properties are now 17% above where they were pre-crisis, regional differences paint a different picture. In the capital prices were over 40% higher than they were before the financial crisis, but in Northern Ireland house values were still 40% lower than they were before the recession8. For many people, they would rather lose money on their house than wait another 15 years to sell at a profit.

There will always be certain buildings that demand a premium price and are likely to weather the storm of a financial crises, but these tend to be either listed, or include unique selling points that attract wealthy buyers.

How to sell a house during a recession?

If you need to sell a home fast at a time when the vast majority of the population are struggling to cover their monthly costs – and by proxy cannot save for a deposit that would be accepted by a lender – finding a buyer can be a very difficult task. This is especially true when taking into account that the number of mortgages being approved in 2018 were still 40% lower in volume than before the 2008 crisis.8

Luckily, however, there are alternatives that many potential sellers tend to overlook.

By examining the rate of values as they fall, it’s not hard to see that waiting can often reduce your potential profit further – particularly if you live in a low-income area. In situations such as these, it is advised to sell as soon as possible, as once the recession is over there is no guarantee that your home’s value will recover in the short-term – even to the price that you manage to sell it for during a failing market.

There are, thankfully, companies who keep track of the property market and are willing to buy your house directly, for cash. The benefit of companies such as these is that they revolve around the idea of completing purchase in a much shorter space of time than a normal sale – which is great news if you are a seller and can not afford to wait around.

Furthermore, house-buying companies such as National Homebuyers will buy a house in any condition or situation, providing you with capital that can be used immediately, allowing you to capitalise on the purchasing opportunities available during a weak market, such as the possibility of buying a brand new home for a bargain-basement price from a house-building company who are desperate to shift their portfolio.

How will the housing market look in the next recession?

As of Q3 2019, fears have been growing rapidly regarding the possibility of another recession – partly fuelled by the fears of a stilted economy once the UK leaves the EU as planned9.

Even in a health economy, the ability of younger generations in the modern age to be able to afford their own home – even considering the large number of schemes put forward by the government over the last ten years – is a lost cause for the majority10.

Many analysts believe that the next recession will punish Millennials further11. While this may not seem to be an issue for many older homeowners who wish to sell, it is important to remember that the search for a willing buyer will be exponentially harder if the pool of potential buyers continues to decrease.

This means that many older homeowners who wish to downsize – trading their expensive larger houses for smaller, more affordable ones – may find the process extremely tricky, heavily affecting the status of their wealth into retirement.

It is, at this point, impossible to say how the housing market will look after the next recession. With so many variables in the air, even respected analysts are finding themselves at odds with one another. But as many economists have pointed out, the outlook would be a lot less bleak if the decision to leave the EU is reversed12.

Are you looking to sell your home due to worries about recession? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property before it’s too late.

Sources:

¹BBC (Anon) (2008) Q&A: What is a recession? Available: http://news.bbc.co.uk/1/hi/business/7495340.stm. Last accessed 10th Sept. 2019.

²Office for National Statistics. (2013). UK GDP since 1955. Available: https://www.theguardian.com/news/datablog/2009/nov/25/gdp-uk-1948-growth-economy. Last accessed 10th Sept 2019.

³Pettinger, T. (2017). The UK economy in the 1930s. Available: https://www.economicshelp.org/blog/7483/economics/the-uk-economy-in-the-1930s/. Last accessed 10th Sept. 2019.

⁴Smith, Charles D. (2006), Palestine and the Arab–Israeli Conflict, New York: Bedford, p329.

⁵Leaker, D. (2015). LFS: ILO unemployment rate: Great Britain: All: %: SA. Available: https://www.ons.gov.uk/employmentandlabourmarket/peoplenotinwork/unemployment/timeseries/ycno/lms. Last accessed 10th Sept 2019.

6Morrison, C. (2018). How the global financial crisis hit the UK housing market. Available: https://www.independent.co.uk/news/business/analysis-and-features/global-financial-crisis-lehman-brothers-property-house-prices-uk-housing-market-a8538176.html. Last accessed 10th Sept 2019.

7Chu, B. (2018). Financial crisis 2008: How Lehman Brothers helped cause ‘the worst financial crisis in history’. Available: https://www.independent.co.uk/news/business/analysis-and-features/financial-crisis-2008-why-lehman-brothers-what-happened-10-years-anniversary-a8531581.html. Last accessed 10th Sept 2019.

8Bruce, A. (2018). Britain’s lasting scars from the financial crisis. Available: https://uk.reuters.com/article/uk-britain-economy-crisis-graphic/britains-lastin-scars-from-the-financial-crisis-idUKKCN1LX0FY. Last accessed 10th Sept 2019.

9Sentance, A & Blanchflower, D. (2019). Recession looms for Britain – two experts on the economic outlook. Available: https://www.theguardian.com/business/2019/aug/28/recession-looms-for-brexit-britain-two-experts-on-the-economic-outlook. Last accessed 10th Sept 2019.

10Inman, P. (2015). Young people in UK increasingly giving up on owning a home – Halifax survey. Available: https://www.theguardian.com/money/2015/apr/07/young-people-uk-increasingly-giving-up-owning-home-halifax-survey. Last accessed 10th Sept. 2019.

11Lowrey, A. (2019). The Next Recession Will Destroy Millennials. Available: https://www.theatlantic.com/ideas/archive/2019/08/millennials-are-screwed-recession/596728/. Last accessed 10th Sept 2019.

12Clark, E. (2019). What will Brexit mean for house prices? Available: https://www.which.co.uk/news/2019/09/what-will-brexit-mean-for-house-prices/. Last accessed 10th Sept 2019.

How To Sell Your Home At Auction

There have never been more options open to the prospective property seller than there are now. From fast cash buyers to part-exchange and traditional estate agent sales, the choice is yours – so why do some favour the age-old process of property auctions, and what exactly does it involve?

Why Sell At Auction?

Offering a house for auction can provide the seller with some benefits not traditionally associated with other methods of selling. Those seeking a quick sale are drawn to home auctions for their immediacy: as soon as the gavel falls, the buyer must pay a percentage deposit, and is obliged to complete the remainder of the transaction quickly – usually within 28 days[1].

The competitive nature of bidding for a property at auction can also drive up the final price. As bidding continues and confidence increases, your property moves closer and closer to achieving its best possible price. And when the hammer falls, the price agreed is the price paid – no renegotiation can take place[2]. This added certainty is another appealing reason to forgo the local area estate agents.

House auctions frequently attract different types of prospective buyers – property auctions are well known as a favourite hunting ground for those looking for an unusual project, or one which will require a substantial amount of work to be done. If you’re finding it difficult to attract interest with conventional buyers, property auctions could be the solution – pick the right auction house and your property might quickly be found by the elusive perfect buyer.

Can You Set A Minimum Price To Sell At?

When properties are placed in house auctions, all potential buyers will see ‘guide prices’, which – as the term suggests – offer rough guides to the value of the house auctions. This may not necessarily represent the final price, and could also be presented in the form of a price range.

However, as the seller, you will agree another figure – the ‘reserve price’ – confidentially, with the auction house, before the house auctions take place. The buyers will not be aware of this value, but if bidding does not meet or exceed it, your property will not sell. As a seller, you’ll need to strike a balance between a low reserve, which increases the likelihood of achieving a sale, and a high reserve, which guarantees a higher final price – if the bidders make it there. Note that in property auctions it is not usually possible to pick any value you like – often, auction houses require a reserve price that falls within a certain percentage of the guide price[3].

What Should You Do Before Auction?

As with any property sale, it’s in your interest as the seller to ensure that the house for auction appears as well-presented and attractive as possible. You can expect your auction house of choice to market your property – but just like selling with an estate agent, that doesn’t mean that you can’t help spread the word yourself. After all, the more people who know about the sale, the more potential buyers there will be to push up the bidding and increase your chances of selling quickly.

Your first big decision ahead of selling your property at auction will be to pick the best auctioneer for you and your house. Just like estate agents, some auction houses will specialize in a type of property or a geographical area, so it is vital to do your research before committing. Fees and processes can vary from one to the next, so it pays to be thorough – do your research and follow guides available online[4].

When you have made a selection for your house auction, you’ll need to arrange a period of time to make the property available for viewings. Due to the nature of auction sales, this is usually a comparatively short time. It may be advisable to speak to agents in the local area to get an idea of what the property is worth, and with this knowledge, you can decide on the most appropriate reserve price ahead of the property auction itself.

NATIONAL HOMEBUYERS PROPERTY EXPERT says: “If you have the time, it may be beneficial to attend an auction for a property similar to your own in your local area. You’ll get a first-hand demonstration of the process your property will go through, which can help you to prepare for your own big day!”

How Much Does Selling At Auction Cost?

You’ll need to bear in mind that the auction house will charge a commission on the sale. This is likely to be in the region of 1-3%, plus VAT – considerably more than the typical estate agent fee which lies around 1.42%[5].

You’ll also need to pay solicitor’s fees for the preparation of a legal pack for the sale which includes documents such as the property information form, tenancy agreements, planning permission documentation and more. This usually costs something in the vicinity of £200[6].

Most, if not all auction houses will also charge an entry fee[7]. This covers costs such as listing your property in the auction house’s catalogue, and the amount can fall total anything from a few hundred, to a few thousand pounds. Unlike the commission charge, which is only payable once the sale has been agreed, you may have to pay the entry fees again if the property doesn’t sell and you need to relist.

Some sellers are able to pass on these additional costs to the buyer by adding a clause into the sale contract – another benefit of selling by auction – but beware: buyers may be wise to this and it could cause them to bid a little lower to compensate.

Will Your House Sell At Auction?

With the exception of some fast property buyers, very few property sales methods can offer a 100% guarantee that your house will sell. Any property can linger on the market without tempting buyers for a variety of reasons: perhaps the asking price is too high, maybe the images in the marketing material don’t do it justice. It could even be the wrong time of year, or simply a property that is fundamentally difficult to mortgage for many other possible reasons[8].

So many factors affect the speed and likelihood of completing a successful sale that simply choosing to sell via property auctions is not a realistic way to guarantee a sale. While it’s true that an auction sale can suit certain properties much better than selling via an estate agent or other methods, when all is said and done, if buyers’ interest isn’t piqued, the property won’t sell. It’s down to the seller to prepare well and do their research – no matter the sales medium – to ensure that their house has the best possible chance from the outset. This can mean lowering expectations with regards to the final sale price, re-evaluating the way the house is presented, or even exploring other ways to sell.

Can An Auction Guarantee A Quick Sale?

On average, it took 102 days to sell a property in the UK in 2018 – six days longer than it took in 2017[9]. With the possibility that this trend could continue, many are turning to other means of selling with a view to speeding up the process. One such option is listing the house for auction. As noted above, one of the key benefits to selling via property auction is the speed with which the process can be completed once a sale has been made. A far cry from the often lengthy, drawn-out ordeal of selling with a traditional estate agent, the winning bidder in a property auction will usually be required to place at least a 10% deposit on the property on the very day of the auction, with the remaining balance due within a month[10]. For those fortunate enough to achieve a bid high enough to clear the listed reserve price, house auctions can prove very beneficial if a swift sale is desired.

Of course, that rapid completion procedure can only occur once a sale has been achieved, and merely opting for a property auction sale is not enough to guarantee this achievement. NATIONAL HOMEBUYERS PROPERTY EXPERT has this advice:

“When speed is truly of the essence, your traditional estate agent might simply take too long. House auctions can move along quickly in terms of completing an agreed sale – but only a fast cash buyer like National Homebuyers can guarantee to not only make you an offer, but to make every effort to do so within a timescale that suits you.”

What Are The Alternatives To A House Auction?

What options are there for selling your house if property auctions don’t quite fit the bill?

  • If time is not a factor, traditional local or national estate agents. While they may charge various fees, their knowledge of the region and of the property market can be valuable – but be prepared to wait.
  • Online estate agents can offer similar advantages to a high street agent, with generally lower rates – but are you missing out on the specific local area knowledge and marketing of a traditional high-street estate agent?
  • If you need a good result quickly, consider using a fast cash buyer such as National Homebuyers[11].

Compared with house auctions, National Homebuyers can offer a quicker turnaround, a lot less hassle and are guaranteed to make you an offer, regardless of the condition or value of your property. If you’re considering selling your house via property auctions, why not give National Homebuyers a call first?

[1] – https://www.which.co.uk/money/mortgages-and-property/first-time-buyers/buying-a-home/property-auctions-athvb3j7lmd4

[2] – https://www.moneysavingexpert.com/team-blog/2013/09/property-auctions-can-you-bag-a-bargain/

[3] – https://www.auction-link.org.uk/what-is-an-auction-reserve-price/

[4] – https://www.which.co.uk/money/mortgages-and-property/first-time-buyers/buying-a-home/property-auctions-athvb3j7lmd4

[5] – https://www.fridaysmove.com/property-auction-fees/25162

[6] – https://www.auction-link.org.uk/auction-fees-for-selling-property/

[7] – https://www.auction-link.org.uk/auction-fees-for-selling-property/

[8] – https://www.which.co.uk/money/mortgages-and-property/home-movers/selling-a-house/why-isnt-my-house-selling-arn5j4y3m7qz

[9] – https://www.bbc.co.uk/news/business-46219904

[10] – https://www.auctionhouse.co.uk/guide/when-do-i-pay-my-deposit

[11] – https://www.nationalhomebuyers.co.uk/

How Brexit Has Made Homeowners Turn to Quick House Sales

After three years of political back-and-forth, misinformation and numerous allegations of corruption, the UK is due to leave the EU on October 31. However, amid all the confusion and turmoil, it appears that homeowners are likely to be bearing the brunt of the economic damage for years to come.

What exactly is Brexit?

Brexit. A word that has only entered the lexicon in recent years, but whose consequences have propelled it to the forefront of the British collective conscious. But what exactly is Brexit?

Contrary to popular opinion, the anti-European sentiment held by many of those who voted to leave can trace its origins as far back as the years following the Second World War, as the more learned members of the British public found themselves becoming weary of the multinational financial, defences and trade organisations that had been set up to centralise power such as the European Union, North Atlantic Treaty Organization (NATO) and the International Monetary Fund (IMF)1.

For many Brits, this centralisation of power meant losing sovereignty and the ability for the UK to make its own rules.

The rise of such organisations was also paralleled by a rise in immigration over the latter half of the twentieth century as increased globalism saw many educated individuals seek employment in more developed countries than their own in the quest for a higher quality of life.

While most young people in Britain today enjoy a secular multicultural social scene, just fifty years prior, most of the British population had barely been exposed to immigrants of different races and cultures. Unsurprisingly, this provided all the ingredients for a rise in nationalist, bigoted styles of thought – especially in areas with low standards of education amongst the working classes. Furthermore, as the rise of immigration and the European Union coincided with one another, it was very easy for Brits to blame the latter for the former.

In reality, the rise of immigration was a direct result of increased political and business agreements between countries as well as cheaper travel options and the need for a larger workforce to help re-build the country and its economy once the war was over.2

By time the 1990s arrived, the British industrial and political landscape had changed massively. The closing of coal mines and the movement of jobs abroad that had previously provided work within the poorer areas of Britain saw a rise of anti-establishmentarianism become embedded in the minds of those who struggled in poverty.

As time passed, it became clear to many that the country had become London-centric, with many other areas left to continue their decline3. And as politicians and other wealthy investors centred their businesses around the capital, a new form of political figure began to emerge, happy to exploit those who failed to understand the relationship between the EU and the UK.

It was during this time that anti-EU politician and grass-roots campaign leader Nigel Farage began to see his profile gain inertia as he marketed himself to less affluent areas as ‘a people’s man’ who is less tied to the elite than the opposing politicians against whom he was competing.

Farage campaigned with others who shared his viewpoint -including the late Sir James Goldsmith – in an effort to direct public attention towards the growing issue of direct immigration within the Eurozone from less economically resilient countries who had recently joined the EU, while also drawing attention to the troubled economies of southern European countries such as Spain4.

During the early 2000s, the idea of leaving the EU began to really gain traction amongst those who felt disenfranchised by the European and British elites who they believed benefited from EU membership at the expense of those lower down on the social ladder.

This growing belief, coupled with multiple Parliamentary scandals, a paralysing economic depression and additional political pressure from the growing anti-EU sentiment within the various parties led to the fulfilment of a promise made by then-Prime Minister David Cameron to hold a referendum vote on EU membership 23 June 2016.

In the months leading up to the referendum, the public found themselves inundated with media campaigns and political rhetoric, with one in six Brits admitting that the divisive nature of the matter had created rifts between families and friends.5

When the results were announced, many were surprised to learn that the Leave campaign had been victorious – winning 52% of the counted votes. A large number of analysts believe that this was due to a lack of engagement with the referendum by pro-remain constituents, combined with a constant stream of misinformation by the Leave campaign that led to the historic decision.6

While the referendum was by no means legally-binding, the government felt obliged to begin the preparations to leave the European Union – much to the ire of the 48% who voted to remain.

Due to the political and economic fallout that grew in intensity over the next three years, as well as the failure by the Tory party to negotiate a trade deal with the EU before the deadline passed on March 31st, an extension for negotiations was granted until 31 October 2019.

In June 2019, Prime Minister Theresa May announced that she would be stepping down from her role, forcing a Tory leadership contest whose winner will be responsible for the continued Tory efforts to take the UK out of European Union.

How has Brexit affected the economy?

Since 2016, the UK economy has seen its growth rate stall. By 2018, first quarter reports by Reuters showed that the economy was between 1-1.5 per cent smaller than it would have been if the Brexit vote had failed. Although many analysts cite an estimated GDP fall of 2.5 per cent – placing it second to last in the G7 economy rankings, just above Italy7.

The UK has, however, enjoyed a huge drop in the rate of unemployment, hitting its lowest level since the 1970s. Unfortunately, those within the work and pensions sector admit that this has been heavily influenced by the increase of ‘zero-hour’ contracts whereby an individual can ‘technically’ be counted as employed, but without a contract that stipulates a minimum number of working hours per week8. This lack of dependable income has forced many Brits to seek second, or even third jobs to cover their monthly outgoings.

Wage growth has also slowed significantly as inflation grew way above the 2 per cent target set by the Bank of England7. This devaluation in currency cannot be entirely blamed on Brexit, as inflation has outgrown wages for decades, with younger generations finding it increasingly hard to build up their savings. However, the inflation rises have forced many households to extend their lines of credit from lenders merely to cover month-to-month expenses9. The economic impact of Brexit, nevertheless, has led the household sector into a net financial deficit for the first time since 19887

As many Brits are probably aware, much of the economic downfall has been centred in and around the capital. Since the days of Thatcher, the UK has positioned itself as a financial powerhouse, with London serving as a middleman between the US and European trade. Unfortunately, many of the multi-national companies, banks, and potential investors perceive Brexit to be a huge mistake that may affect their bottom line if the UK leaves the EU. This has led to numerous organisations re-structuring and moving their operations from London into the Republic of Ireland as well as mainland Europe to avoid the possibility of unwelcome tariffs.

With a lack of employment opportunities within these organisations, the capital has become a less attractive proposition for younger people who have recently graduated, while also forcing many established homeowners in London to find employment elsewhere.

Many companies – both national and international – have also moved their headquarters out of the capital, choosing to move north where land-rent is much cheaper. This increase of investment into cities that had previously been considered ‘secondary’ to London began to turn the commercial property market upside-down as northern towns started to flourish at the expense of the South.

The capital is also finding itself starved of investment, with the Bank of England admitting that before the referendum took place, they expected the economy to grow by 13 per cent between 2016 and 2018. As a result of the leave vote, however, investment in the UK grew by only 2 per cent in total, including a fall of 0.2 per cent between 2017 and 20187.

The signs that Brexit may well spell further disaster are also worryingly clear, with UK stocks becoming a less attractive investment within the FTSE250 in the US, falling by 0.3 per cent (an increase of 12 per cent in Sterling) – a figure that is dwarfed by other developed economies who have seen investment rise by 26 per cent7.

How has Brexit affected house sales and the housing market?

The British house market is entirely sustained by consumer confidence in the economy. Thanks to the fall in GDP, Brits are generally earning less than they would have if the Brexit vote was for remain. Since the vote, house price rises have started to falter, forcing many potential sellers to consider waiting until after the dust has settled before making any plans.

While employment is at its highest level for over 40 years, the continued effects of rapid inflation; the proliferation of zero-hour contracts and the static but overly expensive house prices thanks to years of growth in value have left a large percentage of individuals from Generation X, the Millennial generation, and Generation Z with very little chance of ever owning a home of their own. This has led to an increase in rental properties, and consequently, and increase in rental fees as landlords exploit the situation for further profit10. This hike in rental fees also swallows much more of the income from those within these generations – preventing them from building up savings.

For homeowners in the capital, the effects of Brexit have been startling, with a £40bn drop in property value increases between 2018 and 2019 according to recent data released by London-based agent Savills11.

“Given the extent to which London is [currently] priced relative to the rest of the country,” said Lucian Cook, director of residential research at Savills in July 2019, “the extent to which it had pulled away from the rest — the Brexit vote may well have been the catalyst for a shift in the market.”

It isn’t all doom and gloom, however, as thanks to the closing of the north-south divide in property values thanks to the aforementioned re-distribution of investment from the south to the north, the total value of housing stock across the UK has still increased by £243bn since 201611.

Unfortunately for the UK government, this increase is mainly a result of property value increases across Scotland and Wales7 – countries who have both expressed an interest in leaving the United Kingdom in the event of a no-deal Brexit.

What options do homeowners have amid Brexit?

While a large proportion of homeowners can sit back and watch the Brexit saga play-out, there are, unfortunately, many who will have no choice but to sell while the market is stagnant.

Employees who have been made redundant in the capital, for example, have found themselves needing to move cities to find another job. And as much of their equity is tied into their house, they need to sell their house in order to buy another.

While some individuals choose to commute, the increase in prices for train fares has made this an increasingly undesirable option.

Why are homeowners trying to sell before the Brexit deadline?

Those who own a property that they have considered selling for several years are now finding themselves between a rock and a hard place. As of mid-2019, the UK property market lies in favour of buyers12. So why are they so desperate to sell before the Brexit deadline?

The answer, it seems, is very simple. Fear.

Homeowners have seen the decrease in market activity in the years since the Brexit vote, as well as the falling sold house prices that have so far been concentrated in the south of England. For many of these individuals, they have already acknowledged that they have lost profit on their homes, but the fear that their home could lose even more value if the UK leaves the EU on 31 October encourages them to play their hand early.

This situation is not helped by the amount of misinformation being spread by the less-reputable members of the leave campaign, who believe that even an independent analyst’s estimate that the UK will be “worse-off” once Brexit is finalised is all part of a propaganda campaign by the UK and EU elite they refer to as ‘Project Fear’.

In reality, there is no easy answer to the question ‘Should I sell my house before Brexit?” as, in truth, those within the industry can only make educated guesses that often need revising thanks to the repeated changes in government policies and legislation related to the October deadline.

Luckily, there are always ways to sell a house – even in a stagnant market. And if the value is presently higher than it will be in the event of a no-deal Brexit, many homeowners believe that it is worth it.

So, how can these homeowners sell?

  • They can choose to sell the traditional way via a high-street agent who is likely to have common knowledge of the area but will take a percentage of the agreed sale price.
  • They can enlist the help of online estate agents, who offer flat-rate fees to lure customers away from their competitors. Although certain companies such as Zoopla and Purplebricks have been caught numerous times transgressing the guidelines set out by the Advertising Standards Authority in relation to false marketing claims as well as failing to disclose additional fees to their customers
  • They can try to sell the house themselves privately, although this approach rarely leads to a profit comparable to that negotiated by a professional agent.

It is important to draw attention to the fact that although these methods will – more than likely – guarantee a sale, it is ultimately the strength of the market that governs the value of their home. This means that if they wish to sell their house within a short-time frame, they will most likely have to accept a purchase offer much lower than they anticipated.

Is there a faster way to sell a house?

There are always options for a homeowner if they wish to sell their house fast – no matter the location, situation or quality of construction – and this is via the use of private house buying companies who have the resources to purchase a home outright for cash. This method has increased in popularity over the last ten years as the need to move to a new house in pursuit of higher earnings has become a priority for a growing number of households.

Other options include the use of an auction, where a property can be placed on a ticket and bid for by prospective owners. Auctions are often used by property developers and landlords to find bargains that they can profit from by either ‘flipping’ the house, or by placing tenants inside once it is renovated.

While some sellers report excellent experiences within the auction world – there are yet more who are unable to sell for their reserve price, forcing them to either accept a substantially lower amount than they hoped – or withdrawing their property from the auction, whilst still being obliged to pay the auctioneer’s fees.

How will the property market react once Brexit is passed?

As mentioned earlier, the condition of the housing market – as well as the UK economy – once the Brexit deadline passes is not an estimate many experts are prepared to make publicly with making a disclaimer. There have been claims that the UK could face its greatest economic recession since the Second World War if it were to leave the EU with, or without, a deal as negotiations to arrange trade deals with other countries appear to be weakening13.

One thing that all analysts all agree upon, however, is that if Article 50 were to be withdrawn and Brexit cancelled, the British Pound would likely rise in value significantly amongst the other developed nations. Echoing this sentiment are the many international corporations that are still in the process of drawing up plans to withdraw and re-locate from the UK, stating that they may be willing to reverse their decision to leave.

Are you looking to sell your home before the Brexit deadline? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property before it’s too late.

Sources and references:

1Friedman, G. (2016). 3 Reasons Brits Voted For Brexit. Available: https://www.forbes.com/sites/johnmauldin/2016/07/05/3-reasons-brits-voted-for-brexit/. Last accessed 9 July 2019.

2Yeo, C. (2017). Freedom of movement didn’t start with the EU – it’s the norm for Britain. Available: https://www.newstatesman.com/politics/staggers/2017/05/freedom-movement-didnt-start-eu-its-norm-britain. Last accessed 10 July 2019.

3The Economist. 2012. The Great Divide. [ONLINE] Available at: https://www.economist.com/britain/2012/09/15/the-great-divide. [Accessed 9 July 2019].

4Carter, Neil; Evans, Mark; Alderman, Keith; Gorham, Simon (1998). “Europe, Goldsmith and the Referendum Party”. Parliamentary Affairs. 51 (3). pp. 470–485.

5Mischke, J. (2019). Brexit has made Brits ‘angrier’ and ‘deeply divided’: survey. Available: https://www.politico.eu/article/brexit-has-made-brits-angrier-and-deeply-divided-survey-referendum/. Last accessed 9th July 2019.

6Cassidy, J. (2016). Why the Remain Campaign Lost the Brexit Vote. Available: Why the Remain Campaign Lost the Brexit Vote. Last accessed 9 July 2019.

7Giles, C. Fray, K. (2018). The UK economy since the Brexit vote — in 6 charts. Available: https://www.ft.com/content/cf51e840-7147-11e7-93ff-99f383b09ff9. Last accessed 9 Jul 2019.

8Trotman, A. (2015). Zero-hours contracts ‘save UK from eurozone levels of unemployment’. Available: https://www.telegraph.co.uk/finance/jobs/11435789/Zero-hours-contracts-save-UK-from-eurozone-levels-of-unemployment.html. Last accessed 9 July 2019.

9Burroughs, C. (2019). Companies are fleeing the UK no matter what happens with Brexit. Here’s all the damage that’s already been done. Available: https://www.businessinsider.com/brexit-damaged-city-of-london-2018-11?r=US&IR=T. Last accessed 9 July 2019.

10White, A. (2019). Renting in London forecast: Brexit uncertainty set to push average rents up faster than house prices by 2023. Available: https://www.homesandproperty.co.uk/property-news/renting/renting-london-forecast-brexit-uncertainty-will-push-rents-up-faster-than-house-prices-by-2023-a126901.html. Last accessed 9 July 2019.

11Pickford, J. (2019). London property values down £40bn in past year. Available: https://www.ft.com/content/3f105808-9e62-11e9-b8ce-8b459ed04726. Last accessed 9th July 2019.

12Collinson, P. (2019). UK house prices likely to keep falling for another six months. Available: https://www.theguardian.com/money/2019/apr/11/uk-house-prices-likely-to-keep-falling-for-another-six-months. Last accessed 9 July 2019.

13Chu, B. (2018). Brexit: UK could suffer devastating recession and worst economic slump since Second World War with ‘disorderly’ exit, Bank of England warns. Available: https://www.independent.co.uk/news/business/news/brexit-no-deal-latest-bank-of-england-warning-recession-financial-crisis-a8656561.html. Last accessed 9 July 2019.

How Will Brexit Affect House Prices In The UK?

As the UK passes the original deadline for Brexit, many industries continue to be affected by the ongoing confusion regarding the state of the markets if the country leaves the European Union. But how will Brexit affect house prices in the UK?

How does Brexit affect the property market?

The property market is heavily tied-in with the state of consumer confidence, which can be observed through historical data gathered during the recessions over the last 40 years. In the most recent recession over a decade ago, average sold house prices across the country fell by 20 per cent over 16 months, while house purchase transactions fell from 1.65 million per year, to 730,000 in 2009.

For many analysts, this recession – or the Financial Crisis as it became known – was the worst economic downturn for the UK since the days of the Great Depression. However, housing values were propped-up in the years following by wealthy foreign investors taking advantage of cheap property in the capital.

Unfortunately, in the time since, the London property bubble has started to burst as more and more companies have moved their headquarters to the EU mainland to avoid trading issues if Brexit goes ahead. It is, therefore, more likely that the housing market will suffer a decline greater than that of the Financial Crisis in the event of a negotiated deal with Brussels, or no deal at all.

Will Brexit cause house prices to crash?

Large numbers of property experts believe that the property market, along with many commercial businesses will be the first to experience a huge downtown as the government attempts to collaborate with other nations in an attempt to secure trade deals.

As retail and service providing businesses will lose money due to increased trade tariffs, it is more than likely that they will freeze pay rises, lay off staff and close the number of outlets from which they operate. This is likely to lead to a higher number of people being out of work or earning less than expected, so the rate of consumer spending is also likely to drop – and this includes large purchases such as houses.

What impact will Brexit have on property prices?

Many homeowners have situations arise that requires them to sell their house regardless of the market condition due to starting a new career, or simply due to ill health. But if the demand for houses drops, then those who are looking to sell their house fast will have to accept much lower offers if they wish to complete the transaction. If this occurs en-masse, then it is very likely that house prices will crash.

While it is impossible to calculate the fall in house prices in the event of a deal due to Theresa May’s inability to reach a consensus with the EU’s negotiators, banks believe that if we leave the EU without a deal then they would expect to see a fall of 30%, placing large swathes of the population into negative equity, quite possibly leading to another recession even worse than the Financial Crisis.

If you’re worried about the effects of Brexit on your house sale, why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Estate agencies under fire for turning a blind eye to crime

Despite a strong belief that the estate agency industry is heavily regulated, the lack of oversight by many unregistered agents has forced the government to hand out fines to tackle the growing problem of money laundering.

While estate agents are hardly regarded as the most trustworthy of professionals by consumers and industry experts alike, large numbers of vendors who are looking to sell their home fast are often more than happy to hire an agency – with little research of their own – in the hopes of securing high sold house prices.

Unlike many financial businesses which require a prolonged vetting process designed to rout out applicants who could be considered morally flexible, anyone can set up an estate agency business with little more than a registration with HMRC and a redress scheme – potentially allowing anyone to become an estate agenct.

While this is not a massive issue in itself, these loose set of rules allow criminals to launder money gained through wrongdoing via real estate investment. An obvious example of this is the mass-purchasing of central London residences by Russian Oligarchs in an attempt to safeguard their finances.

The government introduced regulations and fines many years ago in order to curb the exploitation of agencies who fail to probe suspicious clients, and to prevent housing values being falsely inflated. And as a result of fifty spot-checks carried out by HMRC this year, so far there have been a worrying number of agencies hit with financial penalties for failing to register with, or for not adhering to the HMRC money-laundering regulatory scheme. The most high-profile of which has been Countrywide, who were last month hit with a fine of £215,000.

“Criminals who seek to use this country as a place to launder money should be in no doubt that they have nowhere to hide,” said Ben Wallace, Minister for National Security and Economic Crime.

Estate agents are a crucial line of defence against them and that’s why they’re under a legal – and moral – obligation to file a report when they spot something amiss. It’s wrong to think of money laundering as a victimless crime. Those with dirty cash to clean don’t just sit on it – they reinvest it in serious organised crime, from drug importation to child sexual exploitation, human trafficking and even terrorism.”

So how does this affect the average consumer? For buyers, as long as they have no nefarious plans for illegal investment then they need not worry as the regulations are there to help those who stay on the right side of the law. For sellers on the other hand, a failure to deal with a reputable estate agency who are willing to protect their interests can lead to a number of complications further down the line. For example, sellers who discover that their home has been purchased through money laundering schemes may find themselves out-of-pocket as money seized by the authorities can leave the status of the sold property in limbo as legal issues are resolved – a process that can take years.

Is it any wonder then that companies such as National Homebuyers are finding themselves inundated with vendors looking for fast house sales via a reputable company who can complete on a purchase in as little as two weeks?

Prefer to avoid estate agents? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Are buy-to-let properties a good investment?

For many years, landlords have reaped the rewards of property investment – but are the same opportunities for profit available to those looking to start a buy-to-let investment today?

How do buy to let properties work?

The buy-to-let system allows an investor to purchase a property with the sole intent of profiting from a tenant who pays a monthly fee in exchange for residence or use of the building.

The logic behind such a purchase is that the monthly mortgage repayments the owner of the property needs to make to their lender is less than the fee they receive from the tenant themselves.

Can you get a mortgage for buy-to-let properties?

Similar to a normal residential mortgage, buy-to-let mortgages can legally be applied for at any number of lenders. However, in an effort to prevent the wealthy from simply buying up every available house in the country, the associated fees are often much higher.

Lenders also tend to be stricter with investors during the application process for a buy-to-let mortgage as opposed to a residential mortgage. For example, with a residential mortgage it is common for deposits to fall as low as five per cent, with certain banks often requiring no deposit at all in exchange for higher repayment fees; whereas a buy-to-let application will require a deposit of anywhere between 20-40% of the total value of the property.

Furthermore, the application itself will require the investor to have a better credit rating than if they were applying for a standard residential mortgage, and it is extremely unlikely that a lender would consider an applicant who earns less than £25,000 per year.

There are also age limits on buy-to-let investments. A lender is unlikely to offer a buy-to-let mortgage to an individual who will be over the age of 70-75 once the repayments would be completed.

Are buy to let mortgages a good idea?

In theory, buy-to-let investments are a great idea – especially at a time when rental payments are higher than ever due to a mass shortage of affordable housing for first-time buyers. However, the geographical area in which a buy-to-let investment is made can heavily affect the profit margin potential, and an application can be refused if the projected monthly rental income is less than 25-30% higher than the monthly mortgage repayment.

A buy-to-let property has historically been an excellent way to provide a pension for a landlord once they retire from their work-life – and as time passes, the house can be re-mortgaged or re-evaluated by the lender in order to provide an even greater profit for the owner.

However, it is worth noting that both Capital Gains tax, as well as basic income tax will push the investor into a higher tax bracket, and this can severely limit the aforementioned profit. It is therefore advisable for an investor to provide as higher deposit as possible, to maximise their annual earnings during repayments.

Is it worth buying to let?

Whether a buy-to-let investment is a good idea entirely depends on how savvy the landlord is with regard to personal finance.

Some landlords purchase homes, only to find that they encounter a period where they cannot find a tenant and as a result, cannot afford the necessary repayments during that time. This can often lead to repossession and the loss of the deposit regardless of potential sold house prices.

It’s also important to remember that the profit made from the tenants can not necessarily be spent as soon as it is earnt, as most buy-to-let mortgages are ‘interest-only’. This means that while a landlord only pays for the interest on the property from month-to-month, when they reach the end of their borrowing term, they are expected to pay off the property in full.

Another key point is that a buy-to-let investor can not necessarily sell their house fast to repay the mortgage, as if housing values fall and the investor finds themselves in negative equity, they would still be responsible for the outstanding payments to their lender even after they have offset the money gained from the sale of their property against their debts.

Are you looking to sell your home fast? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Sellers in shock as asking prices fall to new lows

As fears regarding Brexit continue to affect the housing market, sellers are finding themselves having to continually reduce their asking prices in order to entice buyers – leading to the weakest market growth since 2010.

Whether you need to sell your house fast, or are happy to wait until the right offer comes along, all vendors are desperate to get the highest price for their home. Unfortunately, things don’t always work out that way, as changes within the economy as well as differing levels of enthusiasm from buyers throughout the year can force a seller to reduce their asking price to ensure a sale.

Thanks to the public insecurity regarding the upcoming Brexit deadline, along with growing levels of poverty as a result of the austerity measures introduced by the Tory government over the last eight years, the housing market is struggling to maintain momentum – and it appears to be the vendors that are bearing the brunt of the situation.

According to property portal Rightmove, the asking price of a UK home dropped by 3.2% between October and December, and consequently, house prices for the entire of 2018 only rose by 0.7% – far below the 2% per annum rise the majority of surveyors and valuers would expect in a healthy economy.

Certain government officials have voiced their concerns regarding the falling housing values and the knock-on effects that could arise if more homeowners decide to stay-put, instead or sizing up or down.

For example, industries that rely on new homeowners for their profits – such as DIY retailers and curtain, carpet and furniture manufacturers – could face a slowdown that would be unprecedented.

The fall in sold house prices appears to be centred around the south and south-east, where housing has become unaffordable for all but the most affluent individuals in recent years. With the capital facing many potential setbacks in the upcoming months, however, as an increasing number of businesses threaten to relocate their headquarters elsewhere in Europe if no trade deal is in place by March 29th, those who have bought in the last 12 months in the worse affected areas may find themselves in negative equity as values slump.

“It’s usual for new-to-the-market sellers to price lower in the run-up to Christmas to tempt distracted buyers, so we should not read too much into the mere fact of two consecutive monthly falls,” said Miles Shipside, a Rightmove director and housing market analyst.

“However, these falls have been larger than usual, making this the largest fall over two months for six years, showing that there are more than just seasonal forces at play.”

It is, nevertheless, important to remember that if you do need to sell your house in as shorter time as possible, it is always worth contacting National Homebuyers who are willing to buy any house, regardless of market strength or condition.

Not getting the asking price you’re looking for? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

The rental trap: 72% say that lottery win is the only way out

A think tank has carried out a survey across England and Wales to mark the launch of the Affordable Housing Commission, the results of which have painted a depressing picture of the UK’s housing crisis.

Chaired by Lord best, the Affordable Housing Commission has been established to find solutions to the problems endured by members of British society who struggle to make ends meet. The survey – carried out by the Smith Institute in collaboration with the Nationwide Foundation charity – has found that 72% of those questioned believe that only a lottery win will help them to finally buy their own property due to rising sold house prices.

Even more worrying is the discovery that 39% of those in rental accommodation are relying on family inheritance to save for a deposit.

“The survey results hammer home the extent of our national affordable housing crisis. This is no longer a problem confined to a few housing hotspots but is recognised as an issue by people of all ages and income levels across every region,” said Lord Best.

“The scale of this challenge demands we stop tinkering and build a consensus around some bold solutions.”

The think-tank performed the survey in order to gain a better insight on the public perception of living costs in today’s economy and found that 64% of the 1400 renters and homeowners questioned believe that the country is undergoing a brutal affordable housing crisis due to rising property values.

The findings are likely to cause further headaches for the current minister for housing Kit Malthouse, who is already under pressure to deliver the new-build homes promised by the Tory government under David Cameron.

Almost half of those quizzed admitted that they had encountered financial difficulties over the past year covering their living costs, and a quarter of all renters stated that they had taken out credit cards just to cover basic amenities. And with the cost of housing still increasing, many in the industry are worried that a vendor hoping to sell their home fast will find it increasingly hard to find a buyer who can afford their asking price.

Agents are therefore advising sellers to be realistic with their asking prices if they are looking for a quick sale, or to contact a house buying company such as National Homebuyers who are always happy to provide a competitive quote.

Need a quick sale? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Crisis As New Mortgage Deposits Unaffordable For First Time Buyers

As rental fees continue to rise, the additional costs to tenants is forcing those who may once have been prospective buyers to put their lives on hold as they struggle to find the money for a mortgage deposit.

The issues facing those living in rented accommodation across the UK have been well documented in recent years. But as austerity measures continue for the majority of Brits – despite the promises made in the recent budget – it’s clear that there is no end in sight for the misery felt by millions stuck in the rental trap.

Moreover, there also appears to be a growing divide between different regions of the country in regard to the amount of rent paid by tenants according to a recent study by Your Move.

While certain areas such as London, Wales, and the north east saw a slight fall in rental costs over the last 12 months, the average rent paid by tenants across England and Wales still rose by 2.6% versus the same time last year.

The data released also showed that while the demand by prospective tenants for rental properties has sharply increased, the number of properties available to rent has fallen.

This may be due to the fact individuals are choosing to stay in situ for longer instead of moving house, but analysts believe the more likely explanation is that the changes made to both capital gains tax and stamp duty by the Tory government over the last three years have caused large numbers of landlords to exit the property business and sell their assets in order to take advantage of the continually rising sold house prices.

“To put tenants back in the driving seat, we need more homes available to rent,” said David Cox, chief executive of ARLA Propertymark.

“And the only way this will be achieved is if the Government makes the market more attractive for buy-to-let investors.”

According to the Royal Institution of Chartered Surveyors, rents are due to increase over the next five years by three per cent a year, while housing values are expected to rise by two per cent a year.

Of course, these higher rental costs have a knock-on effect that can affect those who wish to sell their house fast, as renters who are who trying to buy their own home are finding it harder and harder to save the necessary deposit, leaving a smaller pool of buyers and therefore less competition for the availability homes – often leading to lower offers. However, those who need to sell fast can always contact National Homebuyers, who are always happy to offer competitive quotes for any house, regardless of situation or location.

Are you unable to sell? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

The Top Ten Worst Places To Sell a Home In The UK

No matter the quality or condition of a home, if it is located in an area that offers little in terms of services or personal safety then the vendor will always find themselves consistently lowering their asking price in desperation to complete a sale.

If you’re browsing through listings on an online portal such as Rightmove, you will occasionally see a beautiful property for a staggeringly low price. Opening the listing, you remain optimistic but cautious as to why such a wonderful example of a home can be so cheap despite its large open rooms and well maintained exterior, so after a period of reflection you decide to contact the agent to arrange a viewing.

As you approach the house, it slowly dawns on you why the vendor is having such a hard time selling. For starters, there doesn’t appear to be any local amenities or shops within a 2-3 mile radius – so if the new owner wishes to pick up a few essentials, it would be necessary to catch a bus or drive. Secondly, the neighbourhood appears to have high levels of crime – a deal-breaker for most of us. And once you finally go inside, you hear the dreaded words “I’m afraid we don’t have broadband available in this part of town”.

In the UK, there are many places that buyers would prefer to avoid, and as a result National Homebuyers have been inundated by vendors who need to  sell their house fast. Luckily, National Homebuyers will buy any home regardless of location with competitive quotes and industry leading service – but where are the worst places to sell a home in the UK?

This year, Home.co.uk compared data from sales across the nation, presenting a list of the areas where a house sale can turn into a nightmare that never ends, along with the average time it can take to sell:

1. Rotherham –279 days

2. Knightsbridge – 277 days

3. Sunderland – 277 days

4. Mayfair – 272 days

5. North Shields – 268 days

6. Marylebone – 268 days

7. Soho – 266 days

8. Charing Cross – 265 days

9. South Shields – 264 days

10. Strand – 262 days

Perhaps the most shocking thing regarding the list is the number of London boroughs. Many of these boroughs were in great demand just five years ago, but thanks to rising sold house prices, higher taxes and low wage levels, sellers who refuse to lower their asking price are finding themselves on the market for nine months or more.

Another interesting point is how few northerly towns are included in the list versus similar previous surveys. Analysts believe that the relocation of big companies such as the BBC to large northern cities with lower land values has had a positive effect on neighbouring towns as commuters vie for the best available properties.

With limited trade and falling levels of available industrial work, it is unsurprising to learn that other than the six areas near the capital, three out of the four remaining places on the list are occupied by towns from the north-east.

However, first prize goes to the large South Yorkshire town of Rotherham where houses take, on average, 279 days to sell. With high levels of crimes and the proliferation of ‘grooming’ gangs, combined with high rates of binge drinking and drug abuse within its population, Rotherham often finds itself named on humorous websites as one of the ‘worst places to live in the UK’.

While these lists do change as time passes with the rise and fall of local economies, it is clear that the economic downturn and public insecurity concerning Brexit has had far-reaching consequences for vendors up and down the country – even in the capital.

Are you unable to sell? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

The Secret To The Best Time To Sell Your Home

Finding the best time to sell a property is not always easy in the UK thanks to our inconsistent weather and the complexities associated with the house-selling process. Luckily, in this blog we’re going to discuss the best time to sell your house, and how to use this information to ensure a high value sale.

When do most houses go on the market in the UK?

Traditionally, the majority of houses across the nation are placed on the market when the weather is bright and the temperatures are warmer. This allows vendors to showcase the exterior façade of their home with the plentiful amounts of available natural light, while also helping the property feel warm and welcoming. However, if you are hoping to sell your home fast, you need to choose a time of the year when large amounts of potential buyers are scouting the market for their next big move.

When is the right time to sell a property?

Throughout the year there are many events that can limit the likelihood of your home selling in a short-time scale, subsequently forcing you to reduce your asking price. In the summer, many young families are often busy with their children while the schools are closed, and trying to look after children and organise a house move is often a recipe for disaster. During the winter, the short days and cold temperatures limit the enthusiasm of buyers, and only a very small number of them would be willing to move house during Christmas time.

In the autumn, conversely, children are back in school and buyers who are desperate to move before the cold weather sets in are more likely to make a serious offer with the intention of purchasing. For the majority of estate agents, however, the busiest time of the year is always spring. This is because the days are longer, the weather begins to brighten and the increased competition between potential buyers increases the prospect of you receiving your original asking price – or even higher.

Which month is the best to sell a house?

According to industry analysts, the best months to place your house on the market are between February and June. By the time February arrives, the Christmas and New Year festivities are over and thanks to the ending of the tax year in April, it’s a great time for buyers who are self-employed to finalise their proof-of-earnings for their mortgage application.

The best month to sell your house in terms of sales figures is May, but it is often a good idea to beat the crowd and list your property with an agent a little sooner.

When is the best time to put a house on the market?

The best time to sell your house is not a question that is easily answered. While many individuals have the luxury of being able to wait to place their home on the market, there is always a large number of sellers who cannot delay their sale due to a new job, or simply because they need to move closer to family due to their failing health. Luckily, even when the market has been slow, sellers have been able to contact National Homebuyers to help them to gain high sold house prices with competitive quotes and an ability to complete a sale in as little as two weeks.

Looking to sell your home out of season? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

How to sell a property online

Not happy with your local agent? In this blog, we’re going to look at the best ways to sell your home online.

Where to sell a property online

As technology progresses, the traditional method of buying and selling property via a high street estate agent is slowly disappearing. In the last five years alone, almost 2,500 estate agents have permanently shut their doors as online rivals continue to thrive, offering flat rate fees and the ability to market listings nationally without the need for a brick and mortar storefront.

There are currently three main ways to sell property online. The first is through one of many online estate agents such as Purplebricks or Emoov. These agents employ regional specialists around the country who negotiate with potential buyers once they signal their interest in a property via the website.

The second main way is to use a traditional agent who will list the house on an online portal such as Rightmove, a website that has exploded in popularity since its inception almost 20 years ago.

The third method is often preferred by those who wish to sell their property online fast, and that is via a house buying company such as National Homebuyers, who will purchase any house, regardless of location or condition, without the delays that are often associated with estate agents.

Selling a property online vs other methods

The key benefit of selling a property online is the number of potential buyers you can reach. In the days of old, the only people who would see your home for sale are those who happened to wander past your estate agent’s window. Nowadays, however, your home can be viewed 24 hours a day by anyone with an internet connection.

Of course, rapid growth often encourages controversy – and this is especially true with some of the online estate agents. Both Purplebricks and Emoov have faced lawsuits from clients over hidden costs, and they have been on the receiving end of several warnings from the advertising watchdog as a result.

Tips for selling a property online

If you want to sell your house online, there are some things you can do to encourage buyers to notice your listing:

How to sell a property online quickly

One issue with online agents is the speed with which a sale can be completed, as listings can often become lost in the sheer number of houses for sale. And as certain vendors use the ability to promote their listings for a cost, those who are unable to afford a premium listing for their home can often find themselves waiting a long time for an interested party to call – often leading to lower sold house prices.

Luckily, if a vendor needs to sell their house fast, they can always enlist the help of a house buying company who are able to purchase a home in as little as two weeks from the first point of contact. The benefits of companies such as National Homebuyers is that receiving your quote is absolutely free, and many clients are surprised how much they can get for their home.

With a slowed market, many individuals have found their life has been put on hold as they wait for a buyer to make an offer, preventing them from moving closer to family or to a new area for a new job – and in these instances, a house buying company is always the best option.

Looking to sell your home online fast? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Older individuals are now choosing to rent in their retirement

A rising number of retired Brits are finding that due to the increasing price of property across the UK, it makes more sense for them to rent luxury retirement apartments instead of buying them.

When the media discusses the idea of ‘Generation Rent’, it often conjures up images of millennials and members of ‘Generation Z’ becoming trapped in rented accommodation due to the inability to find the money to place a deposit on a house of their own.

However, in recent years a new trend has emerged in the world of rental properties, and that is the increasing number of older individuals choosing to rent instead of buying a place to retire.

Many baby boomers were lucky enough to have spent their working life at a time within the 20th century where wage levels and sold house prices increased at a similar rate. As a result, the investments they made and savings they gathered earlier in life have, for the majority, afforded them a comfortable retirement without having to rely on a state pension.

This level of financial comfort, however, is still not enough for them to afford their dream homes near the sea – so they are choosing to lease rental apartments long-term as an alternative.

While this may seem a little odd considering that most younger individuals can’t afford any home, let alone a dream house on the coast, there appear to be a number of advantages for those who choose a rental retirement.

Firstly, many of the new ‘hotel quality’ luxury apartments offer their clients 24-hour security, along with communal areas that offer restaurants, club rooms, salons and gyms – facilities most of us could only dream of. Even more impressive is the fact that all utilities, maintenance fees, and the on-site concierge service are all included in the monthly rental cost.

There is, unfortunately, a down side as a result of this trend for those looking to sell their house fast. The rising number of baby boomers who are choosing to rent instead of buy, are slowly but surely, reducing the number of prospective buyers in the market with the necessary financial reserves to buy – the knock-on effect of which is that vendors’ homes are losing value and are relying on only the younger generations to buy their homes. But as we are all aware, many younger people are struggling to keep their proverbial heads above the water to merely sustain an average quality of life.

So, what can these vendors do if they wish to sell? An increasing number of sellers are discovering that they do not necessarily have to rely on a private buyer to move on with their lives, and can instead call on the services of National Homebuyers, who will happily provide a competitive quote for their home, along with the promise of a quick completion.

Can’t find a buyer? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Is this the end for high street estate agents?

Estate agents appear to be the latest victim of the modern high street as consumers move to online competitors.

The face of the UK high street has undergone a dramatic change over the last 15 years as a result of increased internet-based competition and lofty overheads. In many town centres, it’s hard to ignore the increased visibility of coffee, vape and charity shops while big names such as Woolworths, BHS, and Maplin are nowhere to be seen.

Unbeknownst to many, there is another sector that has suffered greatly as wage levels continue to stagnate and sold house prices continue to rise, and that is the local high street estate agent.

While big hitters such as Emoov and Purplebricks have been snapping up market share thanks to their lower overheads and their ability to market their listings nationally, localised private agencies are facing the executioners block at a frightening pace.

This news is backed up by new research from prominent estate agency DJ Alexander Ltd. Who have found that in just the last five years, 2,446 agents have closed their doors amid falling profits.

Thanks to the internet, the need for a brick and mortar store front to reach customers is no longer necessary, and those agencies who have failed to move with the times are finding that more and more prospective house-buyers prefer to search for listings from the comfort of their own homes without sauntering from agent to agent on a gloomy weekday morning.

“The internet has undercut much of the High Street in the retail and other sectors over the last five years and this is likely to continue,” said David Alexander, managing director of the Edinburgh and Glasgow-based agents.

“The generational and cultural change is enormous. For most people under 40 the idea of wandering from shop to shop in city centres is alien to them and they conduct many of their purchases on their phones, tablets, or computers.

However, as more and more vendors choose to list their homes with a concentrated number of online companies, they often find that the battle for visibility against other sellers makes it increasingly hard to sell their home fast at an appropriate value.

It must be no wonder, then, that more and more people are choosing to sell with National Homebuyers, a house-buying company who are always happy to buy any home, at competitive prices with a quick turnaround on completion.

Looking for a quick and easy sale? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Can a landlord sell a house during a lease?

The sale of a rented home can easily become a confusing affair, so it’s always important to understand the legal rights of both the tenant and landlord.

So, you’ve just found out that your landlord wants to sell the house you’re renting. While there’s no reason to panic, it’s always useful to know the status of your rights as a tenant during the sale.

Can the landlord sell the house I’m renting?

As a privately-owned property, a landlord is entitled to sell their house, as long as they complete the process in the correct legal manner. They may wish to sell the house fast due to an increase in sold house prices in the surrounding area, or simply because they do not wish to be a landlord anymore.

Can a house be sold with tenants in situ?

If a landlord is selling a house that is mid-way through a fixed term lease, then they are within their rights to do so. While a tenant may be anxious regarding a new landlord, they are not entitled to have any input into the sales process as they do not hold any equity in the property. The tenant does, however, have a number of rights in regard to their tenancy agreement.

What are my rights if my landlord decides to sell?

If a landlord is selling a house, the tenant has rights enshrined in law to protect them. Once a property has been leased out to a tenant for a fixed term, that legal interest must persist for the full agreed length, regardless of the property’s owner. This means that when the incoming landlord takes ownership of the house, it is against the law for them to evict the tenant while the lease period is still active.

Furthermore, the tenant is still entitled to his/her privacy in accordance with the Landlord and Tenant Act 1985. This means that unless there is an emergency, the tenant is fully permitted to refuse entry to anyone related to the sale – including the prospective buyer. The tenant is even allowed to refuse entry to the landlord themselves, even if a 24 hour notice is provided.

If a new landlord takes ownership of a leased property, then he is obliged to perform all the duties set forth in the tenancy agreement signed by his predecessor, including repairs and maintenance within a reasonable time of notification.

Moreover, if the new landlord fails to comply with these regulatory minimum standards, then they are in breach of contract and the tenant can not only withhold rental payments, but also report the landlord to the courts for prosecution.

A tenant cannot legally be evicted until the fixed term has ended – unless they have breached the tenancy agreement. While rare, there are stories of landlords using section 8 and 21 legal loopholes to force tenants out of their homes during a fixed term lease, so it is important for anyone who lives in a rental property to gain a comprehensive understanding of the lease before they sign it.

How much notice does your landlord need to give when selling a house?

Under Section 3 of the Landlord and Tenant Act 1985, the new landlord is required to notify the tenant that the property has changed hands. However, the tenants are not entitled to know when the property has been offered up for sale, the value of the house, or even whether the property has been sold until two months after the sale is completed. The prior landlord may inform the tenant as a courtesy that they intend to sell the house, but they are not obliged to do so.

Looking to sell your rental home fast? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Owning is now cheaper than renting everywhere in the UK

New market research by Santander Mortgages has found that there is now no part of the country where it is cheaper to rent than own.

It is a sad state of affairs when society presents a glass ceiling to those who find themselves stuck in the rent cycle.

For many Brits, purchasing a home of reasonable value and enjoying all the benefits that come along with it is the ultimate dream. Especially the knowledge that the monthly payments you make each month to keep a roof over your head are furthering the equity you hold within that property instead of lining the pockets of a career landlord.

Sadly, however, the reality of the housing market is a far cry from the aforementioned idyllic situation, with the majority of monthly rental payments far exceeding the size of an equivalent monthly mortgage repayment for the same house, and thanks to new research by Santander Mortgages, it has emerged that owning is cheaper than renting no matter where you live in the UK.

The research, released last month has found that owning a home costs, on average, £2,246 less than renting it, saving an average of over £180 per month.

Why is owning cheaper than renting?

While many older Brits fondly remember the glory days where a house could be bought in its entirety for less than three years wages, the overreaching feeling among younger generations is that the age of prosperity is dead and buried, with an individual needing to save for the best part of a decade just to afford a 15% deposit.

Moreover, as sold house prices continue to rise – albeit at a slower rate than previously – the average deposit needed by a first-time buyer has reached an incredible £51,905.

As these figures continue to increase as we head into the future, you would be well within your right to wonder how an individual in a rental property can ever hope to be in a position to buy with such high monthly living expenditures.

The government are clearly aware of the issue, having made Help To Buy ISAs available to all UK residents to boost savings, but the maximum grant of £3,000 pales into insignificance when compared with the size of most deposits.

This is bad news for a huge number of homeowners who are hoping to sell their house fast, as they are likely to find it increasingly difficult to find a buyer with the necessary financial reserves to purchase. And if they are unable to find a buyer, then their only options are to stay-put, or accept an offer way below their asking price.

Another option is to contact National Homebuyers, who can accelerate the house-buying process by making a formal offer in cash.

Buyers can’t afford your asking price? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Third of homeowners would not be able to afford their own home today

A new survey has found that a third of British homeowners would be unable to afford their home if they had to re-purchase it today thanks to record value increases.

We often hear about the ever-widening gulf between wages and sold house prices, yet the quantitative data provided rarely illustrates the points in a fashion to which many people can relate. Every so often, however, surveys are carried out that use a more qualitative approach, offering a more straightforward viewpoint from individuals to which we can relate ourselves.

This month, a new survey of 3,000 homeowners by MyJobQuote has provided an interesting perspective held by many in regard to the steep rise in house prices over the past few decades.

In the survey, over a third of those sampled stated that if they would have to re-purchase their own home today, they could not afford to do so. Furthermore, the research found that across the 3,000 homes in question, there had been an average increase in value of over £50,000.

Despite the low-performing economy, house prices have continued to increase in value at an unprecedented rate – with a 2.2% increase in the last year alone. And while this may appear to be great news for those who own, the true value of a home is, in reality, based on how much a prospective buyer is willing to pay for it. And as houses continue to become more and more unaffordable for those who are not already on the property ladder, those looking to sell their house fast should be weary if they opt for a high asking price – unless they are willing to see their house spend a long time on the market.

Interestingly, the Halifax House Price Index has found that the number of those currently living in rented accommodation who are planning to buy their first home appears to have fallen in first half of 2018.

While this may be a result of national insecurity regarding the aftermath of the decision to leave the European Union in March 2019, many social experts believe that the fall in interest may simply be the result of renters already giving up on the dream of one day owning their own home.

“The Halifax numbers confirm other reports of a more general slowdown in market activity, with fewer homes being sold, fewer houses being put on the market, and a decline in consumer confidence,” said Mike Scott, chief property analyst at estate agent Yopa.

“If this slowdown continues for the rest of the year, 2018 will turn out to be the least active year for the housing market since 2013.”

So, what can sellers do if they need to sell but can’t find a buyer? Well, one of the increasingly popular methods to secure a sale in the short-term is to contact a property buying company who can provide a competitive quote, and if the vendor is happy, then a sale can be completed in as little as two weeks.

Can’t find anyone to buy your home? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

When is the best time to sell your house in the UK?

Selling a house in today’s market can be a nightmare – but knowing the best time to sell can save you a lot of hassle.

If you need to move house for the sake of work, or simply to be closer to family, you’re probably crossing your fingers and hoping to sell your home fast. Unfortunately, many vendors find themselves a little disheartened when their property ends up sitting on the market for months on end – especially if they’ve taken the time to make their house presentable and already had several viewings with no offers.

What many of these sellers don’t realise, however, is that the property market has high and low activity seasons, and if you want to sell fast, it’s worth paying attention.

Is it a good time to sell my house?

If you’re thinking of placing your home for sale in the next few weeks, you may want to consider holding off for a while as we’re about to enter the summer months – but why is this such a bad thing?

Put simply, the majority of Brits enjoy going on holiday in either July or August to ensure they get a nice sunny break from their everyday life. And consequently, are less likely to have the necessary funds for a mortgage deposit after splashing out for flights, accommodation and food. Plus, they’re unlikely to want to deal with the stress of a house sale while they’re supposed to be relaxing abroad.

Similarly, parents with young children are likely to find themselves swamped as schools close for the summer – and trying to look for a new place to live while finding things to keep their hyper-active infants busy is no mean feat. So, when is the best time to sell your house in the UK?

What’s the best month to sell your house in the UK?


When people begin the process of selling their home, they often ask themselves “how much are properties in my area?” in order to gauge the amount of profit they could make once the sale has gone through. What they often don’t realise is that the prices they research may have been deeply affected by the time they were originally placed on the market.

A house that has been placed for sale in summer, may fail to sell in the short-term due to a quiet market place – and the longer a house is on sale, the more suspicious buyers will be regarding its appeal. It is therefore quite possible that the house will have, at some point, been reduced in price before it was finally purchased.

So, when is the best time of year to sell a house? Traditionally, summer should be avoided for the reasons stated above. However, winter should also be avoided. During the winter time, the days are short and dark – making it hard for potential buyers to appreciate the effort you’ve made to make your home look inviting. For parents, the weeks leading up to the Christmas holidays are often an extremely busy time. And due to the festivities and gift purchases, their bank accounts are more likely to be running dry than in spring or autumn.

The best months to sell your house in the UK are always the same each year. If you wish to sell fast in the first half of the year, aim to put your house on sale at the end of March just in time for spring. At this time of year, the kids are in school, the days are starting to get longer and more importantly, there will be more buyers actively looking to purchase.

If, however, you were unable to get the house ready for spring, try holding off until mid-September. By this time, all the kids will have returned to school, there’s still enough warmth to encourage buyers to get out and look for a new home, and there’s enough time for them to complete on a sale and get settled before the countdown to Christmas starts.

When do most houses go on the market in the UK?

The busiest time for the UK housing market is always in spring. Maybe it’s the renewed enthusiasm that people enjoy as the temperatures climb, or maybe it’s just because of advice from a friend or colleague, but when buyers start looking for a new home – you want your house to be ready for viewings.

Another reason that spring tends to be the busiest time for house purchases is the competition. A buyer is more likely to successfully haggle the asking price of a house down if they have several options available to them, and buyers are usually worried that if they don’t accept an offer, they may end up waiting for months for another.

Luckily, if you have to sell a home and can’t afford to wait until spring or autumn, you can always use the services of house buying companies, who are willing to make generous offers all year round – even if you’ve had trouble selling in the past.

Hoping to sell during the quieter months? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Councils under fire for banking unspent public funds

A number of councils across the UK have found themselves at the centre of a fresh scandal thanks to the discovery of large amounts of public cash meant for spending on infrastructure residing untouched in their bank accounts.

When the Town & Country Planning Act came into force in 1990, there was a minor piece of legislation included known as Section 106, which allowed councils to take vast sums of money from private contractors in exchange for planning permission within the boundaries established by the local planning authority. These Section 106 Agreements were often open to interpretation as a result of the lack of specificity, and so these were amended and clarified in 2010 to ensure that the system could not be exploited through previously known loopholes.

The key point of Section 106 agreements however, were to ensure that the money earnt by councils would be re-introduced back into the local economy in the form of affordable housing, and various infrastructure maintenance.

Worryingly, reports have emerged that a number of councils have collectively been hoarding over £375m in cash donated as a part of these agreements, with one council – Labour’s Southwark constituency – holding a shocking £52.6m alone.

Many of the councils implicated in the scandal have claimed that the money itself has already been earmarked for various schemes – but journalists looking into the matter have found that over 60% of that money is yet to be designated for use within potential projects.

“It is deeply concerning that councils in England and Wales are sitting on a pot worth hundreds of millions specifically earmarked for affordable housing,” said James Prestwich, Head of Policy at the National Housing Federation.

“This reconfirms our view that affordable housing should be delivered within new developments, rather than developers simply funding its delivery elsewhere. This would guarantee that affordable housing will be built alongside other homes within the same development, rather than the money getting lost in the long, bureaucratic process of allocating it for housing elsewhere.”

The issue of unspent public cash residing in private banks appears to be the latest in a long line of faux pas by local governments in relation to their control of housebuilding companies. As recently as this year, a number of prominent constructors including Barrett, Tayler Whimpey and Persimmon have been accused of purchasing land for housing, then holding back on development in an effort to keep sold house prices high.

This continued drive to push up house prices may seem great for those who own, but if they need to sell their house fast, they may find that prices have risen to a point where their asking price is outside the realms of affordability for many potential buyers.

Can’t sell your home? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Millennials facing a lifetime of rent

As the gap between house prices and wage increases continues to grow, new research predicts that a growing number of millennials will be renting for the rest of their lives.

If you were to ask the average person on the street what they hope to achieve in life before they turn 40, more often than not the answer would be to own their own home. As many average people are aware, however, this long held dream appears to be ebbing away for all but the lucky few.

The housing crisis first began to rear its ugly head over 20 years ago, when members of Generation X found that sold house prices were increasing at a rate that left wage rates in the dust. In the late nineties, nevertheless, housing could still be considered ‘affordable’ compared to the ever-widening gulf between housing values and personal income that exists today – with the average home costing eight times the average earnings.

Illustrating this point perfectly is a recently released report by the Resolution Foundation who have found that 40% of all millennials are still living in rented accommodation at the age of 30, and a third of all millennials are facing the prospect of living in rented accommodation their entire lives.

Interestingly, the comments sections of news articles relating to the matter on various websitess such as the BBC are often filled with older individuals complaining about millennials, who they believe are spending money on frivolous assets as opposed to amassing savings and starting a family. However, if they were to spend a little time examining the living costs for a young family in today’s world, they may get a more balanced picture of the inequalities suffered by those merely trying to live according to their means.

In the last 15 years alone, the number of families with children living in rented accomodation has risen by 600,000 to a staggering 1.8 million, and with reduced housing benefits due to Tory austerity measures – in an effort to reduce the national debt – combined with a stagnant housing market in the wake of the Brexit referendum, the issue is unlikely to resolve itself anytime soon.

While all pollical parties pledge to make the housing crisis the focal point of their manifestos for the next election, accountancy firm PwC estimates over 7.2 million household will be renting by the year 2025 – up from 5.4m today.

This is not only bad news for young people hoping to buy a home, it is also a nightmare for those who own but are hoping to sell their home fast in the near future as it seems that the further we look into the future, the fewer potential buyers there will be with the necessary financial clout to make an offer within an acceptable range of the asking price.

Looking for a quick sale? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

How to sell a house online

In times gone by, the methods by which an individual could sell their home were extremely limited. However, thanks to the rise of the internet and e-commerce, vendors have a multitude of options available to them.

Thanks to numerous headlines regarding the underhanded business practices of a small number of individuals, the reputation of high street estate agents in the eyes of the public has suffered somewhat over the last decade, inspiring vendors to look for other ways to market their homes. In this blog, we’re going to take a brief look at how to sell a house online, and how the majority of online house sales work.

Where to sell a house online

If you’re thinking of selling your house online, you’ll be happy to know that there are a wide range of opportunities just waiting to be taken advantage of – some of which are more attractive than others.

In recent years, there has been a steady rise in the number of online agents willing to offer cut-price, or flat-rate deals to vendors who wish to sell their homes. The benefit of large national companies such as these is that their online visibility ensures that any attempt to subvert the client will often be noticed immediately by industry watchdogs or customer forums.

While they are, by and large, a fantastic value alternative to the traditional route of high street agents, there have been times where their conduct has been called into question. Examples of these incidents involve most of the prominent brands such as Purplebricks, eMoov, and Hatched – with many of the allegations linked to inaccurate marketing and hidden fees.

On the bright side, the increased competition, combined with the aim of maintaining their brand reputation in the online world means that it is in their best interest to perform in a manner befitting that of a reliable estate agent.

In today’s society, life seems to move at an unprecedented pace, and as a result, being tied down to a single location can often have a detrimental effect on one’s career or life goals.

While those who wish to sell – but are in no particular rush to do so – are able to patiently list their house on an online estate agent’s website, others may find themselves needing a fast house sale in a short time frame. In these situations, there are few better options than a house-buying company.

The advantage of a house-buying company is the ability to complete on a sale in as little as two weeks from the day an enquiry is first made. And thanks to the increased competition in this sector of house sales, the quote a vendor receives is often extremely competitive.

Also, while online estate agents are happy to make your listing visible, it is ultimately up to the buyers themselves to decide whether or not your home is worth their time. And as buying a house is more of an emotional than objective decision, if your home doesn’t tick all the boxes on their wish list, you may find your home sitting on the market for a while before you get any enquires – and even then, you may have to lower your asking price to get anywhere.

House-buying companies, on the other hand, are willing to buy any house – regardless of condition or location, which means that a vendor can enter negotiations confident that a sale will be achieved.

Another approach that is gaining momentum is the use of social media to garner attention for a house that is for sale. By providing pictures and an accompanying description on sites such as Facebook or Instagram, a vendor can reach a large number of people – without having to spend a penny.

Of course, this method can be quite hit-and-miss depending on who sees the posts, but if you find one or two individuals who express an interest in your home, you may save yourself thousands in agency fees.

How easy is it to sell a house online?

With a growing number of companies selling you their services, it can often be hard to choose the agency with which you wish to proceed. To ensure that you pick the right one for you, you can always follow the advice of consumer advice companies such as Which? as well as view forums of customer reviews from those who have had experience with the companies beforehand.

Of course, it is important to bear in mind that no company is going to enjoy 100% stellar reviews from previous customers. There are going to be many occasions where the agent has followed procedure to the letter and done their hardest to achieve high sold house prices for their clients, but the odd customer will still not be satisfied. So, take all information with a pinch of salt.

Luckily, once your have picked your agent of choice, the rest of the process is extremely easy – although it may be worth reading some of the tips below to ensure that your home entices potential buyers.

Using a house-buying company is most likely the easiest route of all. With a single phone call, a vendor can get the ball rolling, and if they are happy with the quote they receive – then the house can be sold in a very short amount of time. If they aren’t happy with the quote, then they are under no obligation to continue with the deal – so for the customer, it’s a win-win.

This option is especially useful for vendors who are unable to sell for reasons such as their home being located in an undesirable area, or because of structural issues that would otherwise take thousands of pounds to fix – thousands of pounds that the seller does not necessarily have available. It’s also useful for those who need to sell fast but can’t afford to wait the length of time requested by an online estate agency to find a buyer.

In reality, the ability to sell a house via social media comes down to computer literacy, and whether or not the vendor has a keen eye for marketing and promotion. Those who have a large number of contacts on sites like Facebook, or a large number of followers on sites such as Instagram or Twitter may find it easier than others – but that doesn’t mean you can’t try.

By using search engine optimisation along with good sales experience – not to mention an excellent grasp of the English language – any one with the drive and desire to succeed stands a good chance of selling their home via social media.

Top tips for selling a house online

No matter which method you choose to sell your home, there are always some universal pieces of advice that can help encourage a buyer to make a reasonable offer. So, if you’re thinking of selling your home through any of the methods above, make sure you follow these simple rules.

No matter how nice your home is, nobody will give a messy, unclean house a second thought. While it may be a pain to keep your house at showroom levels of cleanliness, it’s worth it if you manage to sell your home fast.

While your friends may think that your quirky tastes are a wonderful part of your personality, they can easily get in the way of a successful house sale. A buyer wants to be able to see themselves living in a house they browse, and the best way to help them achieve this is by removing as much of your influence from it as possible. This means ensuring the walls are painted a plain colour such as cream or white, and any odd furniture is either removed or covered appropriately.

Try to put your home on the market during either spring or autumn. In summer, buyers tend to be busy with their children; going on holiday; and engaging in other activities, and in the winter, Christmas spending and the shorter days discourage many from their search. During spring and autumn however, the market often flourishes, and as a result, there will be many more potential buyers looking at making a purchase.

Your home may be beautiful, but unless your photos reflect this, then anyone browsing for a new home is likely to ignore your listing – so do yourself a favour and hire a photographer who knows what they’re doing.

If you’re using an online agent, spending a little extra on a premium listing can help your home stand out from the crowd. However, you still need to make sure your house is appropriately priced or the extra web traffic will go to waste.

It isn’t easy, but ensuring that either you or your partner are available to show any interested parties around your home is a huge part of finding a buyer. It may be a pain, but when it comes to selling, the buyer’s schedule is much more important than your own.

Looking online for a quick sale? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Vendors cutting asking prices to encourage sales

With agencies across the country encouraging sellers to make repeated cuts to their asking prices in the hopes of achieving a sale, a growing number of vendors are choosing less traditional routes to find a buyer.

Selling a house is long and complicated process for any owner – but there is always an underlying feeling that it will somehow all be worth it once the sale is complete and you can revel in additional profit you have made thanks to your larger equity stake and the accompanying inflation.

Imagine, then, the distress felt by a growing number of vendors in the current economic climate who are being advised by their agents to drop their asking price if they wish to achieve a fast house sale.

Back in November 2017, the online property portal Rightmove revealed that more than a third of home owners in the process of selling their home had been forced to lower their asking price – the greatest number of cuts since 2012.

As the average cut appeared to be just under one per cent, it was easy to dismiss this as a negligible difference. However, Rightmove also revealed that vendors who had already reduced their prices were often being urged to make further cuts, and while a single per cent drop in price may seem insignificant given the average prices of houses across the UK, depending on the value of the house, that single per cent could end up costing a less-wealthy seller a larger than anticipated amount of money.

It is somewhat unsurprising to hear, then, that many vendors are choosing to investigate other possible means by which they can sell their homes, hoping to gain an advantage over some of the more depressing sold house prices of similar properties.

Some vendors are choosing to forgo the option of an estate agent at all – after all, with a hesitant market, a large number of agents are seeing their profits plummeting, and their motivation to encourage a seller to cut their asking price may not necessarily be for benefit of their client, but to ensure that they themselves can balance the books at the end of the month.

Other options include the use of social media and word-of-mouth to garner interest from potential buyers, as well as advertising on property portals directly – cutting out the middle man. Others, however, are choosing a more dependable path, such as the use of house buying companies.

Companies such as National Homebuyers aim to complete sales in an incredibly short timeframe, often in as little as two weeks. And thanks to the lack of an estate agent and their accompanying fees, these purchases will often be completed without additional expenditure on the part of the seller, allowing them to sell their home – regardless of condition or location – and move on with their lives.

Of course, some vendors will prefer to take the traditional route of high street agents, but more honourable established London based agencies encourage buyers to ignore their own agent’s calls for repeated smaller cuts in favour of a single larger cut to drum up interest in their home.

“It’s vital they don’t discount their home in dribs and drabs,” said Lucy Pendleton, of the London estate agent James Pendleton.

“By dropping the asking price in increments all you succeed in doing is making your property look stale and unwanted, with none of the surge in viewings that a keen discount can bring.”

Prefer to avoid estate agents? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

How to sell a house fast

Selling a house is an experience that many homeowners consider a necessary evil if they wish to upsize or downsize. Whether the stress comes from trying to find a decent agent, staying optimistic about viewings, or simply waiting for a buyer to make an offer – the house selling process is not one for the faint of heart. And when there is a limited time frame within which a sale must be made, anxiety levels can often shoot through the roof. However, the ability to sell a house fast is an important skill to learn for those hoping to move house for a new job, or simply to be closer to loved ones.

How to sell a house fast in a slow market

There are often times throughout the year where the property market appears to be in the midst of a massive slowdown. As a result, many vendors around the country find themselves reducing their house prices in order to remain competitive – but are they panicking unnecessarily?

In short, the answer is yes. Similar to stock markets, the world of property is heavily underpinned by consumer confidence, so even in the quietest months it doesn’t take much for the market to gain enough inertia for activity to increase rapidly. One of the best ways to ensure that you can sell a house fast in a slow market is to increase the visibility of your home to potential buyers – this means ensuring that you do not enter an agreement for any single agent to be the sole contract holder for the sale. Admittedly, you may end up paying a slightly higher commission by using multiple agents, but if you need to sell your house quickly, it is often necessary to make concessions.

Another great tip to drum-up a bit of interest in your home is to take advantage of mediums such as social media – after all, you never know whether a friend, or a friend of a friend maybe on the lookout for a new home. Plus, if you sell the home yourself, you can always pocket the commission that you would normally pay to an agent.

Sometimes, however, you need to sell your house fast, and no matter what you try, the market continues to be stagnant. In these circumstances, you can try using house buying companies who will buy any home, regardless of market conditions or location to help you move on with your life.

Tips on how to sell your house quickly

Even if the market is in full swing, selling a house quickly can still be a very stressful experience. Luckily, there are a few things you can do to increase the likelihood of a quick sale:

Choose the best time to sell your home

While there are always a large number of househunters on the prowl at any given time throughout the year, there is a marked difference in market activity between the seasons.

Traditionally the worst times to sell are always during summer and winter. A large number of potential homeowners will have children of varying ages – and as many parents can attest, the summer and winter holidays are often stressful enough without having to factor in the purchase of a new home. Moreover, during the summer months when the weather is nice, people try to avoid stress by going on holiday – a lofty expense in itself; while around the Christmas period, the cost of travelling and presents can often leave your bank account drained.

If you can afford to wait, experts will always advise a vendor to place their home on the market in either spring or autumn.

In spring, the longer days not only encourage buyers to look around for a new home, but the additional light also helps to make a house seem more aesthetically pleasing and bright than in winter. Additionally, if you have a garden, the warmer temperatures and sunshine will help your flowers bloom – a welcome sight for any potential purchaser.

In autumn, buyers with children will have a bit more time on their hands once all the schools are open again. Furthermore, those who missed the spring bubble will be keen to buy and settle in before the temperatures begin to plunge again.

Prepare your house for a quick sale

Despite all the effort you put into making your home visible to potential buyers, if it doesn’t look desirable, the chances of achieving a sale in a short time frame are very slim. So why not do everything you can to make your home as attractive as possible? It may seem obvious, but a large number of houses don’t sell simply because the owners haven’t bothered to make it look appealing to a potential buyer.

Ultimately, learning how to sell a house fast isn’t easy – but it’s always worth doing everything within your power to encourage your home to stand out from the crowd, and remind yourself that upon completing the sale, it will have all been worth it.

Looking for a fast house sale? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

High street agents losing out to online rivals

As the business world continues to move away from traditional shopfronts, high street agents are slowly realising that the future may not be as promising as once hoped.

For decades, high street estate agents have enjoyed a bountiful supply of potential home buyers coming through their doors on a daily basis, but their dominance over both the local and national property market could be nearing its end unless they act fast.

In the days prior to the internet, any individual looking to buy had little choice but to liaise with their local agent in order to find the perfect home for themselves. And for many years, these agents enjoyed a handsome commission on all sold house prices. However, with an increasing number of online rivals offering the same service – often with lower fees – is it any wonder that more and more traditional agents are beginning to feel the squeeze?

Of course, for certain older members of society, there remains the belief that an established local high street agent possesses a level of knowledge regarding the area that is worth the additional price. For younger, more tech savvy individuals, however, there is little a local agent can offer them in terms of knowledge that they cannot attain themselves via a quick Google search – and with stagnating wage increases and continually rising house prices, the appeal of an online alternative with cheaper fees is hard to resist.

In recent years, industry analysts have been quick to note the fall in business experienced by high street agents. Even market leaders such as Foxtons and Countrywide have seen the value of their shares plummet by over a quarter in the past year alone.

It unsurprising to learn, then, that many larger companies have been examining the possibility of merging their assets in an effort to remain on top. However, with online rivals such as Purple Bricks, Yopa and eMoov posting record profits year on year, many experts are wondering whether the former giants of high street sales have left their plans for recovery a little too late, and investors appear to be more than aware of this shift in fortunes according to Varde Partners’ Tim Mooney, who claims that high street commissions are simply “a joke”.

“There’s an analogy to travel agents — nobody books their holidays in a high-street travel agent’s anymore, it’s online,” he added.

For younger people, this is not so much of an issue, having grown-up in a digital world where any information can be accessed from a handheld device in a matter of seconds. For older, more traditional sellers, however, the switch to digital mediums may feel a little overwhelming.

Luckily, older vendors who need to sell their house fast, but would prefer to avoid online agents will always have the option of talking to house buying companies such as National Homebuyers who will happily discuss all available options that are open to them. And with the ability to complete a sale on a house within two weeks, regardless of situation or location, they can rest assured that the stress normally associated with selling a home can be easily avoided.

Prefer to avoid online estate agents? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

How much are estate agent fees?

If you’re looking to sell your house fast, there’s a good chance that you’ll be on the lookout for an online or high-street estate agent. However, with so many agents around the UK, it can often be hard to find one that you can trust to sell your house successfully with an offer as close to your original asking price as possible.

The quality of an agent can often be hard to judge. Many agents seem to request a ridiculous fee as payment, while others appear to undercut the competition significantly, but how can you – the client – know whether or not they are worth the requested payment percentage based on current sold house prices?

How much should I pay the estate agent?

With few exceptions, estate agent fees are always calculated on a percentage basis from the final sale figure for the property they are representing. As a vendor, you should not be expected to make any additional payments for any service related to the sale of your home. Of course, certain agents will offer – for an additional cost – to promote your listing above other similar listings on online portals such as Rightmove – but remember, it is in the agent’s best interests to sell your house in a short time period for as much as possible, and so most reputable agents will cover the cost of premium listings themselves.

So how much commission does an estate agent make? Across the UK, the average fee is around 1.3% of the final sale figure. Like many things in life, you get what you pay for, and consequently it’s worth being a little suspicious of estate agents whose fees are undercutting their competitors drastically – any agent worth their salt would never de-value their brand in such a way. Conversely, it’s also worth being suspicious of agents who overcharge their clients significantly unless it is clear why they do so, and whether their track-record in sales is productive enough to warrant the extra cost.

What are an estate agent’s fees?

An estate agent’s job is to promote your home to potential buyers who are looking to buy in the area. These may be local families who are planning to upsize, retired individuals who are looking to downsize, or even people from hundreds of miles away that need to move to the area for a job. Ensuring that your property is viewable by all potential buyers is no easy task – hence the sizeable fee. Using various mediums such as online portals, word-of-mouth, local and national advertising, an effective agent will be able to target those who are open to the possibility of purchasing. The fee that an agent charges also covers the man-hours involved by staff, operational overheads, valuation costs, and promotional materials for your home such as professional photographs and well-written descriptions.

However, it is important to remember that although an agent will provide you with a percentage quote, this does not mean that you can’t negotiate. Thanks to the competition amongst agents, there are certain situations that allow you to haggle:

How to sell a house without an estate agent

Luckily, if you’re a vendor who would prefer to avoid the hassle of dealing with agents, there are other options. If you can spare the time, you can always try to sell the house yourself – although as many others can attest, this route can be absolutely exhausting. Other options include the use of house buying companies such as National Homebuyers, who will happily buy any house, regardless of location or situation for a competitive fee – perfect for those who need to move house in a limited time-frame in order to move on with their lives.

Looking for a fast house sale? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Vendors cutting prices to encourage sales

As insecurity regarding the outcome of the UK’s planned exit from EU continues, vendors are slashing their prices to increase the likelihood of a sale.

Vendors across the country are slashing their asking prices in an effort to sell their homes fast, as fears grow that once Article 50 has been finalised, the value of their home may be even lower.

For London-based properties, the discounts have been stark. In prosperous areas such as Kingston and Richmond, vendors have cut their asking prices by an average of £84,244. While these reductions are smaller in size than those recorded after the financial crisis over a decade ago, they remain over 6% higher than those recorded prior to the EU referendum.

The online property portal Zoopla claims that around half of all properties in wealthy areas around London and Surrey have had their asking prices reduced under the advice of their agents in order to remain competitive. While this is good news for buyers who have the available funds to buy these discounted properties, it is bad news for both sellers and the property industry as a whole.

For an industry built on consumer confidence, such huge reductions in value are likely to put-off any homeowners considering selling their home in the short-term and instead encourage them to either place their home on the rental market, or stay-put until the market has recovered post-Brexit – assuming that it does.

The average reduction across the UK currently stands at £25,562, but with wage increases failing to meet expectations, those looking to buy their first homes are still unlikely to be able to take advantage. And while house values in general are still on the rise – albeit at a much slower rate than before – many analysts and economists are understandably weary regarding the robustness of the UK’s economy by the end of 2018.

“We see house prices rising a modest 2-3% in 2018,” said Howard Archer, chief economic adviser to the forecasting group, the EY Item Club.

“The fundamentals for house buyers are likely to remain challenging over the coming months with consumers’ purchasing power continuing to be squeezed by inflation running higher than earnings growth. Additionally, housing market activity is likely to be hampered by fragile consumer confidence and a limited willingness to engage in major transactions.”

For many owners who need to sell, the current outlook appears to be a no-win situation without an element of luck – especially taking into account the interest rate hike in November that appears to have further dissuaded potential buyers. However, by using a company such as National Homebuyers, vendors can sell their homes for competitive prices before their values fall further.

Are you worried about selling your home? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Selling a hoarder’s home

While many people enjoy tuning into reality television shows that expose the nightmarish conditions within which many hoarders live, the reality behind the ratings push is often much more morbid.

Many of us know, or have known an individual who lives in a hoarder house, and are more than aware that the problem has its roots in mental illness. For older people who lived through the Second World War, the lack of available provisions and luxury items at the time led to a shift in mentality where the idea of discarding unwanted or unnecessary items could come back to haunt them if they ever faced the same situation. For others, it is an offshoot of obsessive compulsive disorder (OCD) and depression – believing that an item they no longer need could be either useful in the future, or has a sentimental value that elevates its status above that of a simple ‘object’.

As hoarding itself is surprising prevalent across the country – albeit at different levels of severity – it often affects not just the hoarder, but their friends and family also. Moreover, hoarders themselves are more likely to suffer from depression, social anxiety, and various other disorders that heavily impact their mental and physical health. And sadly, as a result of these ailments they are far more likely to die earlier, leaving their nearest and dearest with the unpleasant task of selling a loved one’s hoarder home.

On the other hand, a hoarder may simply be trying to move so that they can fight the illness and make a fresh start, and in these situations, they are hoping to sell their house fast before they have a change of heart.

Obviously, a hoarder home is often unsellable as it stands, and so a number of steps must be taken to make the property seem appealing to those who are in the market to buy. But how do you go about selling a hoarder’s house?

Cleaning a hoarder’s house

An important realisation to make early on in the process is to be aware that you need more than one person to see the task through to completion. Not only is it dangerous to clean a hoarder home by yourself in case of an accident, but also because of the sheer scale of the task. While there are many companies who are happy to be sub-contracted to carry out the cleaning, they are unlikely to have known the hoarder on a personal level, and as a result they may find it hard to differentiate between the accumulated items that bare no value, and those items that are genuinely important or carry a true sentimental value to the ex-resident. By overseeing the project, you can ensure that important memories are kept safe by employing people you trust to help.

In order to put a hoarder house up for sale, it must first be habitable and safe. So, if you find yourself tasked with a hoarding clean up, there are some important rules to be followed.

1) Make the necessary safety arrangements

Due to the sheer number of objects, a hoarder house will have been hard to keep clean. It is, therefore, of paramount importance to wear the right protective clothing in case you run into any issues that could directly affect your health.

2) Hire skips for disposal

It is surprising just how many items can fit inside a home. In many cases, a small two-bedroom house can hold up to several skips worth of refuse, so be sure not to underestimate the situation.

3) Gather your cleaning supplies

Some of the key supplies needed throughout the clean-up will include: heavy-duty leak-proof refuse sacks; receptacles for items you aim to keep; both light and heavy-duty cleaning agents; disposable sponges, mops and cloths; a vacuum cleaner; and commercial carpet-cleaning equipment.

4) Empty the house

For anyone looking at buying a hoarder house, it’s much easier to see the property’s potential if they can see the layout in all its glory – so get your team to start with a single room, separating out items that need to be kept from those that can be disposed of, and start filling the skips. Once the first room is complete, move onto the next.

5) Start cleaning

Using the cleaning supplies, start sponging down walls, windows and windowsills before utilising industrial strength cleaners in rooms such as bathrooms and kitchens to remove any residual bacteria. There are likely to be many things in the house that are unsalvageable such as soiled carpets and curtains, as well as dis-coloured and damaged wallpaper – so prepare yourself for several days of elbow-grease.

It is also important to find the source of any unpleasant smells – if a hoarder has had pets, you may find that certain floorboards are soaked with urine, and they will need to be replaced.

6) Start restoring

Once cleaned, your can start making the home look habitable again. Go for neutral-colours when painting the walls and ceilings, and ensure that any out-dated equipment such as old ovens and microwaves are removed and replaced. It’s also a good idea to check the heating systems, as boilers in a hoarder’s house are unlikely to have been serviced in recent years.

Selling a hoarder’s house

Once you are ready to sell, the majority of the hard work will be behind you. Look for a local agent with prior experience with hoarder homes, but ideally, hire the photographer yourself. A true professional will always know the right angles from which to snap a shot, and through the use of a wide-angle lens make the home itself seem much more spacious.

For those who would prefer to avoid the traditional route of selling a house, you can also try hosting open days where in a preferred time slot, anyone who wants to look inside can come and show their interest.

Alternatively, you can contact National Homebuyers who will offer you a competitive price for the home, with the benefit of a fast sale within two weeks regardless of situation or location. And remember, if you would rather avoid the task of cleaning the house yourself, house buying companies will gladly offer to do the hard work for you once it is purchased.

Are you desperate to sell a hoarder home? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

How to sell a house that needs work done

For those who need to sell their house fast but don’t have the time to renovate, finding a buyer willing to pay a decent sum is hard work – so how do you maximise your profit?

Many individuals purchase a home with the hopes that, over time, they can renovate it. However, by the time they need to sell, they find that they have either never had the time to commit to making the necessary repairs, or simply lacked the motivation to do so.

The house, if sold, may provide a better return than the price it was purchased for, but the likelihood is that it will fall well-short of the asking price the vendors were hoping for.

Luckily, if you are selling a house that needs repairs, there are steps that you can take to ensure you attract the right kind of buyer who sees the potential in your home, despite the obvious drawbacks.

So, what are the important repairs to make when selling a house?


Deciding which features are worth spending money on is always a bit of a gamble, but the best way to get the most out of your sale is by putting yourself in the shoes of a potential buyer, and identify issues from the outside-in.

If you were to look upon your home for the first time, what would be immediately obvious? For many houses, the front elevation can be easily improved by re-varnishing wooden window and door frames – as well as ensuring that the windows themselves are kept clean. It’s also worth looking at the possibility of purchasing a new front door if your present one is beginning to look a bit shabby.

For many city houses, a build-up of carbon from road traffic can also make a home look tired and undesirable. So why not hire a pressure washer to dispel the decades of unsightly pollution and make your external walls look brand new?

Other peripheral features that are easy to tidy up include gardens and yards. By using weed-killer on paths and flower beds as well as re-gravelling your driveway and re-seeding your lawn, you can easily show that the house itself is well cared for, providing a great reason for buyers to enquire further.

Inside the home, there may of course, be a number of obvious issues that need attention such as damage to walls and doors – much of which can be taken care of with a liberal application of filler – but what about the less obvious details?

Many sellers choose to replace flooring in preparation for a sale, but it is worth noting that the majority of buyers will be replacing the floor themselves at some point, no matter how pleased you are with the present style. So why not save yourself money and time and hire a carpet cleaning machine which can easily remove years of dirt and discolouration.

So, what else should you consider when selling a house that needs repair? Regardless of your preference for colour and style, remember that you need a buyer to see the potential in your home, so make sure that all walls are painted in neutral colours such as cream, white, or lavender. While a paint job may take up a few weekends, the increased saleability of the property will make it all worthwhile by the time you finalise a deal.

What about a house that needs major repairs?

The roof may be starting to sag – but is it leaking? The foundations are not in the best condition – but do they pose a threat to the house in terms of stability? For serious issues, there is little point trying to pretend they don’t exist.

Any self-respecting buyer or developer will undoubtedly employ a structural surveyor prior to purchase, and if these structural problems end up being exposed in a Homebuyer’s Report after you have tried to conceal them, any trust a buyer has invested in you will disappear.

If a potential buyer is aware of an issue before a sale, however, it is a lot easier for you to negotiate the cost of repair into the asking price itself. In situations such as these, honesty is king.

Of course, you can fix serious defects yourself prior to selling, but it is worth remembering that the amount you spend on the repairs may end up costing you more than the return you gain after a sale – so temper your hopes and expectations.

Selling a house that needs repairs done

Selling a house that needs repairs is all about knowing your target buyers, the majority will fall into the following categories:

All of these potential purchasers will be aware that the home will need some renovation, but their urge to buy – especially in the case of bargain hunters – will allow them to see past many of the flaws your house exhibits.

It is worth, however, being a little savvy if dealing with flippers, developers and landlords as these individuals are professionals, and will go out of their way to secure a price that maximises their profit, not yours. This can be remedied by having a valuation carried by an impartial third-party surveyor complete with an estimate of value once all repairs have been carried out. This ensures that you know where you stand with regard to the value of your home, and gives you further ammunition when dealing with particularly ‘hostile’ buyers.

Need to sell but no time to renovate? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Why can’t I sell my house?

If you find yourself in the unenviable position of being unable to sell your home, fear not – as there are always steps you can take to maximise your chances of a successful sale.

Selling a house is often described by those who have been through the process as a complete and utter nightmare. However, many of these people do not view the actual ‘sale’ as the greatest source of stress – that special award goes to the strain of praying that the timing of your sale, the timing of your purchase, and completion of the relevant paperwork are all completed within a reasonable time frame.

For a surprisingly large number of vendors, a planned purchase often falls through as a result of a failure to sell their own house, with a prospective buyer letting them down at the last moment. If you’re in this position, you may be asking yourself “Why is my house not selling?” Luckily, in this blog we’ll be looking at some of the most commonly cited reasons.

Why won’t my house sell?

There are a wealth of motives for a buyer to pull out of a sale – however it is important to note that being able to address these issues is not always within your control.

Bad presentation

Have you ever looked, and we mean really looked at your house? Have you ever stood back and put yourself in the shoes of a prospective buyer who’s trying to work out how much your house is worth to them? It’s often easy, as a homeowner, to ignore the lack of varnish on the window frames, or the bad paintwork on the lower half of the front door – but as a buyer, these things stick out like a sore thumb. For many individuals who are in the market to buy, cluttered window sills, a front yard or garden that is overrun by weeds, or even uneven paving can severely limit the likelihood of a viewing becoming a purchase.

Overpricing

Many homeowners mistakenly believe that buying a house guarantees a higher return upon its sale. The market itself can fluctuate in strength depending on the political landscape, area re-development or even time of year, and consequently, many owners end up asking themselves “why won’t my house sell?” even though they have placed their home on the market at a price 20% higher than a comparable property nearby. Most owners should expect to be low-balled with initial offers, and so a slightly higher asking price can be acceptable – but outlandish figures are guaranteed to deter buyers.

Location

Those who have owned their homes for a long time may realise that local amenities and services that were once available nearby are no longer there. Alternatively, maybe the area within which the house is situated is no longer a great choice for locals due to a lack of nearby jobs. As mentioned earlier, the political landscape can transform the attractiveness of any given region in a relatively short length of time. As a result, the reasons that led to you originally buying the house may no longer be valid for potential buyers.

Anti-social behaviour and crime

Do you live in a deprived area where crime is on the rise? Have you, in the past, had to deal with difficult neighbours? While many buyers forget to check crime statistics, they will often check with their agent and other nearby residents regarding day-to-day experiences on your street and whether or not there are any reasons to avoid a purchase. And unfortunately, even the odd disgruntled neighbour will be enough to put them off.

So, what can I do if I’m struggling to sell my house?

Luckily, some of the aforementioned issues can be easily rectified with little effort. In terms of presentation, a pot of paint and varnish from the local DIY store are a great investment to really make your home stand out from the crowd. You could also invest in a new front door to gain a buyer’s attention, as well as use weed killer on your garden or yard. Many sellers even hire power-washers to remove the build up of carbon that often leaves the outer walls of their homes looking shabby and undesirable. In short, a little effort goes a long way to encourage a sale.

If you do need to sell your house fast, it may be worth taking a small hit financially to ensure a sale in reasonable time. You can, of course, leave your home on the market for months, but the longer it stays on the market the more questions prospective buyers will have – and in all likelihood, an agent will advise you to lower your asking price after a certain length of time regardless. Getting the asking price right is an important part of encouraging a quick sale, so consider employing a surveyor to carry out a quick valuation of the property.

Unfortunately, when it comes to location or crime, there is little that you, as a seller, can do to increase the likelihood of a sale. If there are nearby amenities or services that are not immediately obvious to those who are not local, it can be worth writing a pamphlet containing any relevant information for anyone who comes for a viewing. Even better, realise that many prospective buyers will have different priorities to you, and that your worries about the distance to local services may not be an issue to them.

If you are aware of an increasing level of crime in your area, you can always appeal to your local council to have a greater police presence in an effort to reduce the frequency of offences nearby. You can also apply to the council to have graffiti removed, as well as damage to public property such as pavements and road signs fixed. Many residents in undesirable areas even form Neighbourhood Watch schemes – investing in CCTV cameras and community spirit to keep wrongdoers away.

Of course, sometimes you can be left screaming “Why is my house not selling?!” after months of exasperation due to viewings that never lead to an offer. But this doesn’t mean that you can’t sell. Luckily, there are property buying companies such as National Homebuyers who will buy your home for cash regardless of location or situation – and with most sales completed from start to finish in as little as seven days, you can savour the chance to finally move on with your life.

Can’t sell your home? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or 

request a call back

 to find out how much you could get for your property.

Rental rates continue to rise as cheap housing remains unaffordable

As rising house prices continue to prevent younger, less wealthy buyers from purchasing, landlords have been capitalising on the situation by acquiring cheaper homes and enjoying consistently rising rental rates.

One of the greatest difficulties experienced by prospective buyers in rented accommodation is the ability to raise the necessary deposit for a mortgage. Unfortunately, thanks to the ever-increasing margin between rising house prices and low wage increases, the finances of many new buyers fail to measure up – and with rising rental fees, they often find themselves trapped in rented accommodation for much longer than expected.

The resulting state of affairs has left potential first-time buyers with no choice but to compete with wealthier landlords and those further up on the property ladder in an effort to secure a ready-built starter home.

During a sale, a vender always intends to make a profit on their house, and consequently there is very little first-time buyers can do to encourage them to accept a lower offer – even if they need to sell their house fast. To salve the situation, the government has made numerous promises to increase the number of new build estates with a pre-determined number of units to be sold as ‘affordable housing’. However, thanks to a weakened economy, the falling value of the pound sterling as well as a shortage of capital, the government have so far failed to live up to their word.

For investors, the rental market is a blessing in its current form. Despite the fact that more homes are available for purchase, the inability of first-time buyers to successfully apply for a mortgage allows landlords to snap up a large amount of available housing – housing which is then renovated before being let to those who had previously hoped to buy.

“Some experts believed the supply of rental properties would fall this year due to economic and political concerns,” said Allison Thompson, managing director at Leaders.

“But this has certainly proved not to be the case. In fact, supply is growing in all regions across the country and high tenant demand for all types of properties means rental prices are also on the up, providing landlords with a golden opportunity to benefit from more people looking for rented accommodation and a booming market that allows them to enjoy a significant return on investment.”

Sadly, government efforts to slow down the house price increases that are preventing a large percentage of the population from gaining a foothold on the property ladder have, so far, failed to provide any form of relief for those stuck in the rental trap, and landlords continue to turn a substantial profit.

However, it isn’t just first-time buyers that are losing out, as vendors across the country are finding it progressively harder to find a buyer for their house and, as a result, end up waiting for months for a reasonable offer that never materialises before lowering their asking price in order to encourage a sale.

Worried that your home won’t sell? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

How to sell your house without an estate agent

Selling a house can be a stressful experience. Even so, more and more sellers are choosing to decline the use of an agent in favour of more profitable options.

For the majority of people looking to sell their house fast, the use of an estate agent seems like a great idea. While agents do take a cut of the profits, many sellers prefer to avoid the stress of self-marketing and will happily pay to avoid the headaches.

However, with the advent of numerous online property portals; the increased ability to reach a wider audience of potential buyers through social media; and the ability to cut down on expenses – as a seller, you may find yourself wondering whether it’s possible to learn how to sell your house without an agent.

It is, however, important to realise that in most cases, managing your own sale requires a great deal of time and devotion, as well as being ‘available’ 24/7 to take calls regarding offers and general enquiries.

In this blog, we will be looking at the most popular methods you could employ when setting out to discover how to sell your house yourself.

Make your house sellable

As with all planned property transactions, a buyer is less likely to buy if they view a house that is unkempt and messy. When you use an estate agent, you can often gain pointers from their sales specialists with regard to making your house marketable. When you decide to shoulder the responsibility yourself however, you need to make the judgement calls on your own. Luckily, there are a huge number of internet-based resources that can help you bring your house up to showroom quality.

Once your house is in tip-top shape, consider employing the services of a professional photographer to take the marketing pictures. Photos taken by amateurs often stand out a mile in listings by making your home look ‘cheap’ and claustrophobic – whereas a professional, by comparison, can make your home look open, palatial and desirable.

How to sell your house yourself

No matter which method you choose, it’s always important to learn the value of your home. Set the asking price too low, and you risk losing a vast amount of your investment – set the asking price too high, and you risk deterring potential buyers and finding yourself waiting a long time for the possibility of a sale.

In these situations, it’s always a great idea to employ an RICS-accredited surveyor to carry out a valuation. With a much lower price than a homebuyer’s report, a valuation is an important step in finding out how to sell your house without an agent.

Choosing the right path


Many vendors choose to employ the services of auction houses in an effort to sell fast. However, it’s important to remember that most buyers at auctions are there because they’re looking for a bargain. While unusual homes and derelict houses at the lower end of the scale tend to make the seller (and auctioneer) a lot of money, an average standard house is liable to perform less well during the bidding process.

Even if you set your reserve price at the price point advised by your surveyor, many auctioneers will forgo the chance of including your home in their auction if they feel the price won’t entice enough potential buyers. It’s also worth remembering that auctioneers make a great deal of money in commission from both the seller and the buyer if the property sells – and even if your house does not sell during the auction, you would still liable for the attached administration fees.

Luckily, there are alternatives. Online property portals such as Purplebricks or Tepilo offer you the chance to sell your home through their websites at a fixed fee, rather than a percentage-based fee with an agent. However, as with many great offers, there are strings attached.

Many property portals require you to use their services for valuations – services that have, on many occasions, required additional fees. There have also been numerous complaints against Purplebricks that have been upheld by the advertising watchdog regarding misleading marketing claims. For example, the obscuration of the fact that the fixed fee itself is payable whether or not your house manages to sell, and their 2016 claim to save a vendor an average of £4,158 in fees versus standard estate agents, which was heavily criticised due to the fact that the claim was based on commission figures published five years previously.

Ultimately, any company that is willing to help you sell your house is doing so with the aim of making a profit – and so it is up to the client to read the small print before deciding to sign on the dotted line.

Cheaper alternatives?

we guarantee to buy any home for cashIf you wish to find out how to sell your house yourself without having to deal with additional commission fees, there are better options, and these are house buying companies.

Companies such as National Homebuyers offer you the chance to sell your home in as little as seven days – great for those who need to move house fast due to a change in personal circumstances. With a small upfront fee that is refunded upon completion of the sale, National Homebuyers will buy any house for cash, regardless of condition or location for a competitive price – even offering the seller additional financial support to cover any legal fees associated with the sale.

With an ever-increasing number of satisfied customers, why not make an enquiry and see how easy the house selling process can be?

Prefer to avoid estate agents? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Lengthier mortgage terms on the rise for potential buyers

As properties become less affordable for prospective buyers, the number of applications for 35-year mortgages are increasing dramatically.

For many first-time buyers in today’s housing market, the ability to secure a mortgage by raising the necessary funds for a deposit is considered a major triumph. However, with ever-increasing prices, the crowning achievement of becoming a homeowner is slowly turning into a pyrrhic victory.

For decades, the longest mortgage term for the majority of buyers stood at 25 years, with many new owners opting for even shorter terms. For those in low paying jobs, however, certain banks began offering potential purchasers the option of a 35-year mortgage in an effort to encourage borrowing and further their profits.

As late as 2006, the percentage of mortgages with 35-year terms still stood at a minimal 13.8%. But by 2016, that number had sky-rocketed to a shocking 30% according to new figures released by the Financial Conduct Authority under the Freedom of Information Act,

Experts within the industry believe that this research reinforces the idea that home ownership is becoming an increasingly exclusive club. And even those who are able to buy are finding themselves at a marked financial disadvantage compared to those who bought a decade previously.

The issue is not just isolated to first-time buyers either. More than seven in ten mortgage brokers have disclosed that there has been a stark increase in demand for 35-year loans in recent years.

On average, the percentage of all mortgages with a 35-year term across the country reached 13.5% in 2016, an increase of 9.7% since 2006.

“The majority of brokers (62%) and lenders (68%) agree that longer term mortgages are an essential option for aspiring homeowners and would argue that this is a response to reality and remains responsible lending,” said Peter Williams, executive director of the Intermediary Mortgage Lenders Association.

“However, this in no way lets the government off the hook in needing to act swiftly to address the housing crisis.”

Due to a lack of new-build homes, high purchase prices and minimal wage growth, these figures suggest that the housing market could ultimately reach a point in the future where it is inaccessible to potential first-time buyers.

This is also bad news for any current homeowners who are looking to sell their house fast, as any reduction in the number of new buyers entering the market limits the likelihood of an efficient sale within a reasonable timeframe, and this subsequent lack of activity could conceivably lead to a weakened economy.

Need to sell? Fast? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

How to sell your house quickly

So, you’ve decided to sell. But what steps can you take to ensure that you find a buyer within a reasonable time-frame?

Moving home is hardly the most stress-free experience for the majority of us. Once the initial excitement of deciding to sell and move on has died down, we’re left with the task of ensuring that we gain offers similar to our asking price.

Once the property is on the market, the first week or so can be a little exciting as you wait for that first viewing to get booked. Once you get to the third or fourth week without hearing anything from your agent, however, the insecurities can begin to set in.

You may even begin to ask yourself if the agent is pulling their weight with regard to the sale – or maybe it’s the house itself? As time passes, the stress begins to occupy every waking moment as you edge ever further towards the day when you consider dropping the asking price to encourage buyers and ask yourself “Could I have done more earlier on to ensure that I sell my house fast?”

And for many vendors, the answer is a simple ‘yes’. Luckily, you don’t necessarily need a degree in marketing to help the odds play out in your favour.

In order to sell your house fast, it’s often worth harking back to the perspective you personally held when you bought your own home. For many people, despite the scale of the potential purchase, the decision to buy is often made within an hour of viewing a house – so what can you do to maximise your home’s desirability to a buyer?

Choose your season

For those who wish to know how to sell a house fast, it’s worth biding your time until the majority of buyers are looking. So, when is it best to place your home on the market?

During the winter, the shorter days and poor weather can make any house look a little dreary, and there are few vendors or buyers looking to sell over the Xmas period. During summer, a large number of parents are busy looking after their children while they’re off school, and many people are busy planning a getaway to sunny locations abroad.

Traditionally, the best times to sell are during either spring or autumn. The kids are in school, and there’s still enough sunlight to flaunt the attractive external aspects of your home and garden – but more importantly, these are the seasons during which the bulk of potential buyers are active.

Clean and declutter

No matter how you decorate your home while you live there, remember that when you are selling, you are advertising. Knowing how to sell your house quickly comes down to helping potential buyers feel comfortable with the thought of living there.

A house which is unkempt or full of clutter will barely gain a second’s thought from the majority of buyers – especially when they most likely have several other properties to view that week.

It is also worth remembering that applying a little elbow grease around the property can’t hurt either:

  • Have the windows been cleaned recently?
  • Could the front door benefit from a quick re-varnishing?
  • Are there walls inside that could enjoy a fresh lick of paint to make them look their best?
  • Have you weeded the garden and driveway for their arrival?

Nobody expects you to pull off a TV-style makeover, but a little effort goes a long way.

Use natural light

During viewings, make sure that you keep curtains drawn back, blinds rolled up, and that they are scheduled when the sun is out. Natural light helps a house feel more spacious and airy and you should use it to your advantage.

Maintain showroom quality

It’s not easy to keep your house looking perfect 24/7, even when you’re trying to sell – but it is important to try. Cleaning as you go is a great way to avoid being caught off-guard by a surprise viewing on short-notice – and learning how to deal with surprise appointments is a great way to learn how to sell a house fast.

Promote your neighbourhood

When we purchase a home, we usually have to factor in the additional benefits its location presents. Sometimes we buy because of its proximity to local amenities such as shops and leisure facilities, other times it’s because it happens to be in the same district as a renowned local school.

Whatever your reasons were for originally purchasing your house, make sure that you pass on this information to your agent, or through a welcome pack for potential buyers to read while they come for a viewing, reminding them that the services on your doorstep are part of what makes your home such as bargain.

Be prepared to say goodbye to certain appliances

Sometimes we love to indulge ourselves with a few fitted appliances in either our bathrooms or kitchens that really make living in our homes a joy. When we move, however, it can be quite tempting to bring that luxurious gas fire, expensive oven or fridge/freezer with us.

Nevertheless, if those appliances are a focal point of the décor in your home, most buyers would assume that they are included in the asking price – learning to let go of some of your favourite purchases is an important part of learning how to sell your house quickly.

Know when it’s time to reduce your price

You could have the perfect home, the perfect location, and the perfect time of year – but sometimes, luck just isn’t on your side. Knowing when to lower the price of your home is an important part of the house-selling process – and if approached with a strategic mindset, can really help encourage buyers.

Therefore, before you place your home on the market make a decision at which point you would consider lowering the price, and also by how much.

While we all aim to achieve our original asking price, it’s important to temper expectations with reality, and don’t forget, it’s better to lower the price earlier before the home has been on the market so long that buyers begin to question its saleability.

Gain additional planning permission

Does your home offer a number of opportunities for extending? If done correctly, adding an extension to a home is usually a sure-fire way to guarantee a greater return on your investment.

Sadly, many of us do not necessarily have the financial reserves for extending our homes – but the people who are considering buying your home, however, may have deeper pockets. Take advantage of this by gaining planning permission for any possible extensions and make sure that you notify any interested parties to make buying your home seem an even more attractive proposition.

Are there any tips and tricks that can be used to sell my house fast?”

Most people try to be as objective as possible during viewings – tallying the number of rooms needed, checking for ample storage space, as well as deciding whether or not the garden is big enough.

What many viewers don’t realise is that it’s often the subjective, subliminal side of their minds that help them settle on a potential purchase. So why not try the following?

  • Don’t let an amateur take photographs of your home. The photos are the first thing a buyer will see at the agents, and great photos can make your small family home look palatial.
  • Turn on the central heating 2-3 hours before they arrive – warmth can easily sway a buyer’s opinion in your favour.
  • Spray a little furniture polish on the radiators while they’re heating up – the scent often evokes feelings of nostalgia and comfort.
  • A bowl of fresh fruit, or a pot of freshly brewed coffee on display can easily encourage a buyer to see your house as a home.
  • Clear drains using caustic soda to eliminate any smells from bathrooms and kitchens that may otherwise deter those looking to buy.
  • Try to use a combination of secondary lighting such as floor lamps as opposed to a single fixed ceiling light to prevent the rooms from feeling too sterile.
  • Add a few plants in and around communal areas. A bit of nature can add a little variation to your standard décor.

Of course, you can make all the effort in the world to make your home look beautiful, but it’s all for nothing unless you have a good agent – so ask around and make sure you find the right one for you.

If you do need to sell your house fast and would prefer not to deal with estate agents, however, remember that you can always use property buying companies who will buy any home, regardless of location or condition, at a competitive price.

Looking to sell your home? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Bank of mum and dad now covering rent payments

As the affordability of buying a house continues to decrease, new research has shown that younger people are now finding it just as hard to afford rental payments without parental aid.

For years now, parents have been helping their offspring to gain a foothold on the property ladder by helping to pay for the necessary deposit. As a result, the government has come under fire numerous times from both younger generations who would relish the opportunity to buy houses without additional help, and from older generations who find themselves having to work for longer in order to help their children afford the aforementioned down-payment.

However, while many within the property industry have been waiting for wages to go up in order for housing to become more affordable, new figures released by Legal & General have shown that the situation has become even worse – with parental donations now extending to covering their children’s rent.

For those who are still wondering whether they will ever be able to afford a home, the mere fact that it is 2017 and a large number of young people are having to borrow from their parents just to keep a roof over their head must feel nothing short of devastating.

This year alone, the bank of mum and dad have been responsible for £2.3 billion worth of rent payments across the UK, and when this is combined with £6.5 billion they are paying towards their children’s deposits and mortgage repayments, it certainly begs the question, how much worse can it get?

Even for young homeowners who are already on the property ladder, worries are being compounded by the possibility of negative equity if their worst fears are realised once Brexit is completed – making many question the intrinsic value of their house.

“The lack of affordable housing, low wage growth relative to inflation and burdens of student debt mean that many kids can’t even rent somewhere without significant contributions from their family,” said Dan Batterton, a fund manager at Legal & General.

“Parents want to help their kids get on in life, and the bank of mum and dad is a testament to their generosity.”

The greatest issue for the majority of the public is the knock-on effect from this research, as established homeowners who need to sell their house fast are finding that without a vast reduction in their asking prices, they are unable to sell in the desired short time-frame due to a lack of buyers.

With millennials paying on average over £44,000 more in rent by the age of 30 than those in the baby boomer generation, for those looking to escape the rent-trap the light at the end of the tunnel is getting dimmer by the day.

Failing to attract buyers? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Who pays the commission when you sell a house?

When property changes hands, it’s not always straightforward how the associated fees are calculated – and to whom they are paid. The situation is made even worse when you realise that different methods of selling a home demand different types of fees, so it can often feel like a figurative minefield.

No matter which process you choose when you decide to move house, the individuals who take care of the marketing, conveyancing and orchestration of the sale will require payment. Some of these fees will be paid by the buyer, while others are handled by the vendors.

In this blog, we will examine the most common methods used to sell, and find out who pays the commission when you actually sell a house.

Estate agents

An estate agent’s job is to make your home appear as saleable as possible. They are also responsible for ensuring that your home is viewed by the target market. Once a sale has been completed, payment for their services is due – but who pays the estate agent?

In nearly all cases, it is the responsibility of the buyer to pay for conveyancing, solicitor fees, Land Registry searches and valuation fees. The commission earnt by the estate agent, however, is paid by the seller. But exactly how much is an estate agent’s commission?

Although there are occasional variations from agent to agent, the standard fee would account for between 0.75% and 3.00% of the final sale price (plus VAT). Due to the difference in value between houses, a percentage-based fee ensures cheaper houses enjoy cheaper commission fees, and vice versa.

Auction houses

For auction houses, the situation tends to be a little more complex – so who pays the commission when you sell a house through an auctioneer?

Firms who run property auctions find their line of work to be a lot more lucrative than an estate agents’, as both the buyer and the seller have a commission fee to pay.

For buyers, the standard commission rate lies around 10% of the final selling price. For vendors, however, this fee can range from as little as 8%, all the way up to 30% – and it’s important to remember that VAT will also be added to these premiums.

Online portals

With fierce levels of competition, many online companies such as Purplebricks or eMoov have often vied for business through the use of flat-rate commissions, no matter the size or location of the house in question. While this may be great news for those with more expensive homes, those vendors on the lower end of the scale may find the marketing a little less attractive. For these reasons, it’s often a great idea to find out how much your home is worth before choosing the best method for selling.

House-buying companies

For many vendors, the need to sell fast is essential. This can be due to a change in home life circumstances, or simply due to a job in a new location. Luckily, most house-buying companies adapt the motto ‘we guarantee to buy any home’, and as a result, will be happy to offer competitive offers for your house regardless of location or circumstance – often with zero fees.

Prefer to avoid costly estate agency fees? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

First homes becoming a distant dream for younger generations

The recent English Housing Survey carried out by the UK government has painted a truly depressing picture for prospective house buyers across the country, as the true scale of rising property prices is revealed.

As younger generations slowly begin to increase their proportion of the UK population, we have begun to see more and more stories regarding the difficult task of securing a first home.

For the last 15 years, many older generations have been quick to designate young people as ‘lazy’ and ‘unwilling to put in the work’ for their inability to afford a property. However, as a growing number of millennials reach the age at which it was once customary to look for a house of their own, reality has started to rear its ugly head.

Once upon a time, buying a home as a single person in their early twenties on an average salary was almost considered a rite of passage. With high wages and low property values, an easily affordable two-bed ‘starter’ home helped first-time buyers to find their feet in an increasingly fast-paced world and help their wealth grow.

Flash-forward a generation, and that same single person on an average salary could not even conceive of such a purchase. In fact, the recent survey carried out on behalf of the government has found that most first-time buyers are in their mid-thirties, and 74% of those individuals have only managed to raise the necessary deposit if they are in a couple and are able to combine their incomes.

In the late 90s, there were on average 922,000 first-time purchases per year – today, that number lies around 675,000. Furthermore, the number of first-time buyers aged 16-24 has dropped by more than half. For older homeowners who need to sell their house fast, this is bad news, as fewer potential buyers are able to enter the market place.

Pulling the trigger?

Of course, with a country currently facing a long period of uncertainty due to the falling value of the pound along with an unclear path through the triggering of Article 50, many younger people are weary of purchasing a home in the next few years due to the off-chance that they will find themselves in negative equity if fears regarding the failing state of the economy continue to be realised.

For the average young person, unless they have managed to find themselves working in a field that pays high wages, the future remains bleak as it becomes clearer that upward social mobility is becoming increasingly unlikely, and taxes continue to be directed towards supporting the pensions of those generations who enjoyed the post-WW2 economic boom.

As always, the answer lies in the construction of more freehold new-build estates, and an economic revolution that provides the opportunity for higher wage growth, not just in the capital but across the whole of the UK.

“Today’s English Housing Survey is a stark reminder of our national housing crisis,” said Debbie Larner from the Chartered Institute of Housing.

“’Affordable housing is increasingly out of reach for millions of people all over the country.”

Can’t find a buyer? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Mortgage approvals fall to nine-month low

Mortgage approval figures have fallen for the ninth month in a row, as inflation, rising house prices and wage stagnation continue to blight the housing industry.

Many within the housing industry are at odds with one another with regards to the new figures released by the UK trade body UK Finance.

The report has detailed that as of June, gross mortgage borrowing has continued to rise – 6% higher than the same time in 2016 – but the number of mortgage approvals have slipped for the ninth month in a row.

With low interest rates, mortgage providers are currently offering excellent deals on fixed-rate deals, and these packages have been designed to tempt potential homebuyers into pulling the trigger while the market seems buoyant.

However, the stark difference between the increase in total mortgage borrowing and decrease in mortgage approvals have given experts much cause for concern.

Representatives from various lenders have been quick to thank the ‘resilient’ housing market for the increase in money borrowed. They are, however, failing to realise the dangers of a reduction in the number of transactions and what this could mean for the industry in the future.

The economic squeeze

With the outcome of Brexit hanging over the heads of the British population, combined with the high rates of inflation reducing the value of the pound, it seems that for now at least, UK consumers are choosing to bide their time when it comes to large purchases such as homes and cars.

“The fundamentals for house buyers are likely to remain weak over the coming months with consumers’ purchasing power continuing to be squeezed by inflation running higher than earnings growth,” said Howard Archer, chief economic advisor for EY Item Club.

“It is also very possible that the labour market will increasingly falter despite its current resilience.”

Moreover, it’s not just the total mortgage borrowing rates that have increased, as credit card borrowing has also increased by 5.5% over the past year.

These divisive figures make it clear from a macro perspective that a large proportion of the British public are being forced to borrow money for purchases that just ten years ago could be afforded through everyday savings.

But what about those who wish to sell their house fast?

In the near future at least, current homeowners are finding themselves having to stay-put unless the move is unavoidable.

With falling levels of mortgage approvals and ever-increasing house prices in a world where wages are failing to match up, those who need to sell may have to prepare themselves for a long wait as the pool of available buyers continues to dry up.

Need a quick house sale? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

When is the best time to sell a home?

As many property professionals can testify, the housing market can be volatile – but that doesn’t mean there aren’t steps you could take to maximise your chances of a quick house sale.

The period between the day you place your home on the market and the day you finally sell can be a nightmare. Sellers often find that the daily regime of keeping the property at ‘showroom’ levels of cleanliness can drive them mad – and that’s without the ritual of waiting by the phone after a viewing for that all-important call.

If you are looking to sell, surely then, it would make sense to try and reduce the length of that time period and sell your house fast. Luckily, those who have spent any length of time in the industry will soon learn when to sell a home with regards to seasons – and the differences can be staggering.

When’s the worst time to sell a property?

Despite the differences between us all, most members of society tend to have similar routines throughout the year – and as a result, it’s clear there are times when you should avoid trying to sell:

  • Parents tend to be busiest during summer and Christmas thanks to the horror of having the kids at home 24/7, and they can’t imagine dealing with the stress of looking for a new home.
  • Many workers aged 18-45 tend to go on holiday during the summer – and with the steadily rising prices, it’s unlikely they will have too much spare cash at that time of year even when they get back.
  • During the darker months, a house can lose its ability to impress potential buyers, yet this is academic as most potential house buyers would prefer to avoid house-hunting whilst it’s cold out anyhow.

So, when is the best time to sell a home?

We know from the above reasons that it’s best to avoid both summer and winter – but what are the advantages of putting your home on the market during spring?

  • The longer days allow more potential buyers to view your home in all its glory without rushing.
  • The newly blossoming trees and flowering shrubbery in your garden can be a big pull for many buyers.
  • Parents whose children are coming up to school age will always aim to move into their preferred school district ahead of time, and before the kids break up for summer.
  • You can always guarantee that more people will be browsing the property market during spring.

Another great time to sell is autumn. It may not be spring, but the browns and reds on the trees always offer romanticised imagery for those people looking for a place to call home. By the time autumn comes around, the excitement of summer has faded, and there’s still plenty of time before Christmas so many buyers will be looking to make an offer and complete before the end of the year.

Why is it important to learn when to sell a property?

In a word, stagnation. If you place your home on the market in mid-November, you may still be looking for a buyer by the time February arrives – and this often makes buyers question why the house has been on the market for so long.

Does it have structural issues? Are the owners a nightmare to deal with? Is it overvalued? It doesn’t take much to scare off buyers, and nobody wants to buy a house that won’t sell.

Luckily, the seasonal differences in the housing market do not vary between regions, so you should be able to sell within 4-6 weeks during the stronger months – so there is little to no reason to take a chance at other times.

Is your house failing to sell? Even during the busy months? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Number of hopeful first-time buyers living with parents is on the rise

With no other option, potential buyers from younger generations have found themselves having to move back into their parents’ homes to generate the necessary income for a deposit.

There’s no doubt in the current economic climate that it’s tough for those looking to buy their first home. With high prices and low wages, it can sometimes feel like you’re standing at the bottom of a towering mountain with little hope of ever reaching the summit.

The obvious response to this situation for potential buyers is to limit their expenses, and according to new research by Aldermore Bank, many are opting to move back in with their parents to save the necessary cash.

With figures from 2016 showing that 25% of all purchases by UK home buyers now involve the bank of mum and dad to some extent (pumping some £5 billion into the market), it’s clear that young generations are still desperate for help.

The greatest issue, however, is that returning to live with one another once again now that all members of the household are adults means that both parties have to deal with a negative fallout from both a financial and emotional standpoint, and therein lies the problem.

For the children, now adults, having to move back into their parent’s homes has left them experiencing feelings of failure and self-resentment, while their parents have to deal with increasing demands on their household budget, and an inability to enjoy their later years the way they had planned.

Many families have found that the new living arrangements have created a decline in life satisfaction and a damaged emotional bond between parent and child.

The extra costs alone add up to an average of £4,996 for mum and dad per year, and this is hampering their ability to realistically save enough for their pension in later life.

“Our report reveals just how difficult this can be to navigate, with a real impact not just on parent’s finances but also on the relationship with their children and their own ability to save,” said Charles McDowell, commercial director for mortgages at Aldermore.

“Furthermore, as parents are less able to save for their retirement, more people will require help to unlock the value held within their property in later life. This is an intergenerational problem that goes beyond the simple view of the Bank of Mum and Dad.”

Industry experts believe that without a substantial investment into the housing industry for new-builds or the appointment of a new housing minister who truly understands the scale of the problem, the crisis will not only affect younger generations, but also those who are looking to sell their house fast in order to downsize during old age.

Worried about being able to sell? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

London Property Slowdown Effects Estate Agents Profits

London’s property slowdown is having a detrimental effect on London estate agent Foxtons. Their revenue from selling houses has almost halved in the final quarter of 2016. Foxtons has announced that in the final quarter of last year they achieved a revenue of only £26m. This figure is down a quarter in the same period of 2015.

For the whole of 2016 Foxtons revenues were recorded to be £133m. This is an 11% drop from their achieved revenue in the year before.

But it’s not just the property slowdown in London that has caused this fall in revenue, all UK estate agents are feeling the strain following uncertainty caused by the EU referendum and higher stamp duty rates.

The chief executive, Nic Budden, says this may just be the start of a difficult year. Here is his statement to shareholders:

“Despite a challenging year across the residential property markets, we have continued to make good progress in respect of our strategic initiatives, including building our presence in the private rental sector and new homes, and leveraging our technology using data analytics and digital marketing to enhance our customer proposition.

“We also opened seven new branches in 2016 and a further two branches in outer London are due to open in Q1 2017.

“Looking ahead, we expect trading conditions to remain challenging in 2017. Should current levels of sales activity continue in the short term, it is likely that 2017 volumes will be below those in 2016. Our balanced business model provides resilience against sales market cycles and we have a strong balance sheet with no debt.

“Our high-touch approach to customer service continues to be a key differentiator and as the most recognised residential brand in London, we are uniquely positioned to manage through the market uncertainties and take advantage of any change in conditions.”

National Homebuyers – We Buy Any House

National Homebuyers are a UK based property buyer who really do buy any house or property! In fact, we will buy anything, absolutely anything! Whether it is a house, flat or bungalow we will buy it!

If you are looking for a fast house sale then we are here to help you. Our team of property experts are always on hand to share their expertise with you and help you achieve your aim of selling your house fast in a time scale that suits you, and not us. So if you want a we guarantee to buy any home service, then give us a call on 08000 443 911.

Get your no obligation cash offer now by using the Get Offer on the right-hand side of this page and take the hassle out of selling your home!

National Cash Buyers Broaden Their House Search

In the latest Market Insight from Hamptons International, they have shown that UK cash buyers are now starting to broaden their horizons when it comes to buying a house.

The report shows that there were 92,845 cash only house transactions in the UK in the third quarter of 2016. This figure is a 5% fall compared with the same period last year.

This seems to be part of a consistent trend in the reduction of national cash buyers in the market since 2014.

This decline in the reduction of cash buyers seems to be the highest in the most expensive areas of the UK. Broken down into regions, the report shows that in the South East, the number of cash buyers fell by 13% compared with 2015: in the East, it fell by 11% and in London by 9%.

In the past national cash buyers would generally buy property in and around the UK region they currently lived in. However, this report shows that in 2016 Cash buyers are broadening their horizons on their search for a home. Back in 2013 83% of national cash buyers bought in the same region they came from, but in 2016 this figure has fallen by 5% to 78%.
London cash buyers have now set their sights further afield in the search for debt-free homes.

The South West has seen an increase in the proportion of London cash buyers buying there. In 2013, only 7% of London cash buyers bought a home there but this has now grown to 10% in 2016. Similarly, only 2% of London cash buyers bought a home in the North in 2010 but this has now grown to 8%. South East national cash buyers also show a similar trend.

Here is the full Market Insight from Hamptons International

national cash buyers


Selling at Christmas – the best or worst time to market property?

The Christmas period has long been associated with a lack of activity within the property market – but an increasing number of potential buyers are spending the festive season house-hunting online. Wait for the new year and you could be missing out on some great opportunities.

In the last 15 years, there has been a huge increase in the use of websites that allow buyers to preview properties from a variety of estate agents. For many, this increased accessibility has made the stress so often associated with house-hunting a thing of the past – and these property websites aren’t just making the process of searching easier, but also changing the way we go about it.

For years, the Christmas period has been linked to a slowdown in the buying and selling process, with professionals advising sellers to wait until the new year to put their home up for sale. But new figures from leading property website Rightmove have indicated that the festive season is fast becoming one of the busiest periods for online viewings by UK home buyers.

With 14 million views alone on Christmas day in 2014 and a further 25 million on Boxing Day, there are those clearly less interested in the festivities, and more interested in getting ahead of the game. After all, there are few opportunities throughout the year when one can enjoy a prolonged break from work, sit down with a glass of wine at midday and browse everything the property market has to offer from the comfort of an armchair.

So, how can you make the Christmas period work for you? With increased online activity comes increased competition, so use the countdown to Christmas to get your house in top physical condition and ensure any photos used to advertise your property are handled by a professional who knows how to get the best out of your home’s aesthetics – and for external shots, don’t forget to rake the leaves from the garden and take advantage of the picturesque wintry light.

Plus, if time is a factor and you’re looking to sell your house fast, professional property buying companies such as National Homebuyers can help you move things along and get you a cash offer in place before the New Year.

If your looking for a sale house fast company then get n contact with National Homebuyers for advice, as we guarantee to buy any home. Call 08000 443 911 or request a call back to find out how much you could get for your property.

What does Trump’s election victory mean for the UK housing market?

As anti-Trump rallies are held across the US in reaction to the stunning result of the presidential election, UK economists and property selling experts find themselves experiencing a feeling of unease about the future of British markets.
To state that Donald Trump’s victory against Hillary Clinton was a shock may well be the understatement of the century. As the UK celebrates losing the crown of the most controversial vote of the year to the US, it leaves us pondering the knock-on effects of the contentious billionaire becoming the most powerful man on earth.

For the housing market in the UK, it seems to be a case of sitting, biting our nails and hoping that the cards fall in our favour. Those looking to sell their homes fast may find themselves looking towards property buying companies in an effort to strike before they lose too much of their house’s value.

Trump’s win was seen by many as the ultimate anti-establishment vote against a deeply unpopular politician. Clinton is viewed by a large percentage of the population as untrustworthy; and a symbol of all that is wrong with the culture on Capitol Hill.

Across America, low-paid workers are celebrating at the proposition of manufacturing jobs returning home, while the increased taxes on Chinese imports will urge consumers to buy US-made products. Sadly, however, with the increase in automation of low-paid jobs from factories and drivers, it is unlikely there will be any jobs left upon their return.

 

Furthermore, with Putin stating upon Trump’s victory that he is ready to fully reinstate diplomatic and trade ties with the US, the American public see this as a way to avert any future military action between the two super-powers. Yet many others believe this is the first step for the withdrawal of the US from both NATO and the United Nations, while allowing Russia to gain the support it needs to recover former Soviet states back from Europe.

For the GOP, the win means retaining a majority in the Senate and the House of Representatives, as well as another stab at the White House. For the DNC, however, the painful loss will not be forgotten easily – especially considering the imbalance of support shown for Hillary over the more progressive and popular candidate Bernie Sanders (a man whose approval rating is one of the highest in Congress). In hindsight, many believe that Sanders would have been a shoe-in for the presidency had he been the DNC’s priority, but the influence and power of the Clintons ensured that this would never happen.

But what about the UK? Global markets reacted with a sharp fall upon the election announcement, but this fall is expected to stabilise over time, much like Brexit. However, as Trump was a big supporter of the UK’s choice to leave the EU, it is entirely possible that stronger trade ties between the US and UK will develop. But then, as the majority of imports arrive from Eastern Asia, the benefits of any supposed deal are hard to gauge at this point.

 

The UK has historically been used as a ‘middle-man’ by both EU countries and the US, but with Britain’s withdrawal from the European Union, many believe that the America’s need for a ‘special relationship’ with Britain may not be a priority for Trump anymore.

The president-elect himself has called the deeply unpopular Trans-Pacific Partnership trade deal a “rape of our country”, a sentiment echoed by many in the UK – but his emphasis on aiding American industry as opposed to strengthening ties with Western Europe could lead to a reduced level of globalisation, reducing business opportunities for the UK and thus impacting on all our markets, including housing.

There’s also the weak British pound and a lack of consumer confidence due to the Brexit referendum, as well as the potential change in international relations with China, the US; and the EU itself could go either way. So will we enjoy a commercial and industrial renaissance across the country? Or are we facing a depressive period devoid of economic growth? Only time will tell.

Worried about your home’s value after global changes? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

 

Is Manchester the new London?

As companies and young professionals turn away from the capital and head towards Manchester, the large northern city is seeing the creation of its own property bubble.
For years now, the media has been awash with stories discussing the rise of house prices in London and how more and more people are forced to commute to its centre from its periphery. We all know why – and that’s because of the growing gap between wages and property prices.

In these reports, London is often compared with northern cities such as Liverpool and Manchester where living costs are generally lower and the standard of life on a lower income is much higher… but something strange has started happening over the last decade. The percentage of home ownership in Manchester dropped from 72% in April 2003 to 58% in February 2016 – a staggering drop of 14%.

This situation has led to many property buying experts scratching their heads trying to figure out what is going on. According to Rightmove, the online property portal, the majority of sales for the previous year were not houses, but flats – with many buyers being young professionals who are forgoing the chance of having a family to focus on their careers. And with the 2011 census showing a decline of households based around families in the city, the need for a large house is unnecessary.

 

The interesting part is that most of the young professionals in Manchester are still renting properties due to its large graduate population, with a 14% increase in the number of renters since 2003. While this situation should ultimately lead to house prices dropping as demand plunges, Manchester may simply become the next London – due to its ever-increasing population – with foreign investors driving prices up even further.

Worryingly for those looking to move to Manchester, the aforementioned outcome is becoming increasingly likely, with large businesses foregoing the capital in favour of cheaper land and commercial property in the north. Examples include the BBC’s highly publicised move to Salford.

“Manchester city centre had a few thousand people living there a decade ago,” said Dave Power, chief executive of housing association One Manchester.

“That is now tens of thousands, mostly in private rented sector properties reflecting probably the younger population, which has joined Manchester through digital and business jobs.”

For those looking for a fast house sale in the city, options are looking decidedly grim. This is not an issue for vendors who are willing to wait to sell – but there are people who need to move urgently and are facing a huge loss just to sell their house. Luckily, there are property buying companies who buy any home for cash with exceptional customer service, to lend a helping hand.

Worried you’ll lose money on your home? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

Let our friendly sell house fast team guide you through our quick move now  fast house sale process for your city:

 

 

What does the EU vote mean for the property market?

Misquoted facts and propaganda have been a problem on both sides of the Brexit argument – but for those who own a home or are hoping to buy, which is the best choice?

UK Exit EUToday (Thursday 23 June), millions of Brits go to the polls to vote on the issue of remaining in the EU. With both the ‘Remain’ and ‘Leave’ campaigns consistently accused of unsubstantiated claims, it’s often hard to know exactly what the effect an exit would be on UK homeowners and potential buyers.

The ‘Leave’ campaign states that freedom from Brussels will position the UK as a financial powerhouse with a high standard of living and a level of prosperity not seen since the days of the empire. And of course, these claims are rubbished by the ‘Remain’ campaign, with many believing that it will trigger a nationwide recession, dwarfing the economic downfall we suffered almost a decade ago. So who’s right and who’s wrong?

The biggest issue of Brexit is the lack of empirically valid unbiased data. Many Brits believe that the UK is the most important EU state, a statistic that is sadly far off base. In terms of contributions to the EU, we lie in fourth position behind France, Germany and Italy and as a result, the EU is far less dependent on us than we think. And whilst we do contribute heavily each year financially, the savings we would make by leaving are far too small to really aid the country when compared to our annual GDP. Those who wish to leave the EU, however, believe that the amount of money we would gain through long-term trade deals would help the UK increase funding for the NHS, property development and education.

The problem is that on both sides of the argument, many are voting on issues of contention such as immigration and the dream of being independent, while ignoring the more subtle issues that would impact UK property owners and investors long-term.

 

It is also important to take note of events outside of the capital, as much of the regeneration in the north of England stems from EU legislation and funding that has allowed for greater investment in more areas of the UK. So many ‘Remain’ campaigners believe that voting to leave the EU will simply lead to a reduction in funding for towns and cities outside of the south east.

‘Leave’ campaigners, on the other hand, take the view that thanks to the funding, these cities are prospering successfully already and will continue to do so, using events such as the BBC’s move to Manchester as proof.

For those in the property market, experts believe a vote for ‘Leave’ will lead to one of two scenarios. The first is that overseas buyers will fail to see the attraction of the purchasing in London thanks to recent changes in tax and will instead invest in other European cities, leaving the capital as a property ‘ghost town’ with prices nobody domestically can afford.

The other scenario is that the value of the pound sterling will fall so dramatically that interest rates will rise to a point that is untenable for most looking to buy a home, further dampening the market. Many UK property experts believe that prices could fall as far as 30% if the Brexit occurs, leaving vendors looking for a fast house sale in a precarious position.

Those who wish to leave, however, see the situation differently. Even with talks of a possible exit, house prices have continued to rise – so why would they not continue to do so, considering the property market is largely driven by consumer confidence? Moreover, since we entered the European Economic Community, the number of new homes being built has continued to fall, and with the new found wealth and improved economy we would enjoy, more houses would be developed and those looking to get on the property ladder would most definitely find it easier.

Unfortunately, the only way to find out whether the UK would benefit from its independence is by taking the plunge and voting ‘Leave’ – but if the negative forecasts regarding our financial security are correct, the decision will have already been made and there would be no going back – and therein lies the problem.

Remaining in the EU means we have a good idea of what the future holds, whereas leaving the EU is a gamble – and for those who have much to lose, such as homeowners, the risk may not be worth taking.

Hoping to sell your home quickly? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

 

National Homebuyers Customer Survey

National Homebuyers polled a series of customers who have recently contacted us for a quick cash offer for their property. The below infographic is a representation of this information we gathered from this customer poll.

national-homebuyers

Ever fancied owning a village? For a cool £20m, you can…

The village of West Heslerton, near Malton in North Yorkshire, has officially gone on sale to prospective buyers after over 150 years of family ownership.

When Eve Dawnay sadly passed away in 2010, the village that had been passed down from generation to generation for a century-and-a-half faced an unsure future. Eve inherited it from her father in the mid-1960s and managed to gain the respect of local people with her generously low rental prices. Those who lived alongside her remember her fondly, but many are fearful of the possibility of rising costs once new owners are found.

The village itself hosts 43 houses, a pub and restaurant, playing fields and a sports pavilion, along with the beautiful 21-bedroom West Heslerton Hall. A popular figure among locals since moving into a smaller four-bedroom house in the village centre, Ms Dawnay died without an heir and as a result the village was passed down to beneficiaries.

“Miss Dawnay was a wonderful lady,” said Tom Watson of Cundalls estate agency. “She was very kind and the property rents are, and have always been, very low.”

For many, the charm of the area has been its lack of modernisation over the last 50 years, but with potential investors showing an interest in its purchase, the likelihood of further development is a distinct possibility. With over 2000 acres of undeveloped countryside, residents are hoping that the incoming buyer will share Eve’s hopes and vision for the village, ensuring that local life can carry on untouched by the outside world and without the risk of rental prices being hiked.

The new owner(s) can expect an annual income of £388,000 from rent and agricultural subsidies, but that is likely to increase if further development is carried out. Eve’s sister Verena moved to London once she turned 18, but still considers being raised in West Heslerton a privilege and a blessing. However, she agrees that times have changed and understands that seeing new life breathed into the local community could benefit the residents further.

“It is a once in a lifetime opportunity – I just hope we can find the perfect buyer,” added Tom Watson.

Wondering about the future of your own property, or fancy a swift lifestyle change? Ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property

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How will the 2016 Budget affect the property market?

George Osborne’s budget has left the future of the property market on shaky ground, with an emphasis on increasing transaction fees – forcing potential homebuyers to pay higher rents and spend longer saving for a deposit, despite the new Lifetime ISA scheme due in 2017.

2016 BudgetIn his eighth budget since the Conservative party came to power, George Osborne was under pressure to direct more funding into property development, after new research began to reveal the effects of his previous funding cuts. When the Tories came to power, one of their key commitments was to increase housing investments in an effort to keep the property market open to younger and less wealthy prospective UK homeowners.

Unfortunately, as of 2010, levels of home ownership have dropped sharply and Osborne has done little to address the situation. While 300,000 fewer first time buyers are entering the market versus previous years, the UK is also facing the slowest rate of new-build homes in almost a century – and as a result many are finding themselves stuck in the rent cycle. For many within the industry, this year’s budget needed to tackle the lack of investment head-on or risk a further demand on the government for housing benefit as rental prices soar to accommodate the increase in stamp duty proposed for April.

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So how did Osborne do? Well, many were hoping that the stamp duty increase would be discarded or at the very least postponed, but unfortunately the tax hike will still go ahead next month – and now also includes large-scale purchases for those buying over 15 properties simultaneously. This is bad news for landlords, with a recent survey showing that many plan to quit the sector, limiting the availability of rentable homes. This may drive up rental costs, which in turn will increase the time that prospective home owners will need to acquire the funds necessary for a deposit.

“This policy is misguided as in an attempt to reduce demand by some buyers,” said Lawrence Hall of Zoopla Property Group.“It ignores the fact that the private rental sector provides an essential service for millions of adults who are happy to rent, especially in their 20s and 30s. By hitting the rental sector with higher taxes and lower reliefs, the chancellor is making renting more expensive and getting on the ladder even harder for Generation Rent.”

Many are also worried about the effect this budget will have on foreign investment within the UK, driving them away to countries where transaction costs are lower – but more importantly, it paints a picture of a future where the number of those capable of buying a home will lessen, heavily impacting private sellers looking for a fast house sale.

Are you worried how the budget will affect your house sale? Why not avoid the stress and get a quick sale for cash? We buy any house – so call 08000 443 911 or request a call back to find out how much you could get for your property.

Pace of house prices slows to 6.7% in 2015

Office for National StatisticsAccording to the Office for National Statistics (ONS) house prices in the UK rose by 6.7% in 2015. This shows a significant slowdown in UK house prices compared to the 9% rise reported by the ONS in 2014. This represents a fall in value of £18,000 compared to the average home in the UK which was valued at £288,000 at the end of the 2014.

The ONS reported that prices in 2015 increased fastest in Eastern England with a 9.7% increase with Scotland at the other end of the scale with a fell in house prices of 0.2% during 2015.

The breakdown of where house prices rose fastest in 2015 can be seen below:

house price rises

Looking at other organisations that have made predictions relating to house prices in 2015, we can see that there has been a substantial variation here.

Halifax presented the highest prediction with their published figure of 9.5%, whereas Nationwide Building Society believed the figure was much lower, stating that UK house prices only increased by 4.5%. The ONS, who’s figures are regarded as the most reliable data on house prices, show that both of these predictions are way off the mark.

These figures are a positive sign for UK home-owners but experts are still warning that these increases far outstrips the 2% wage growth figure, meaning a continue housing crisis in the UK.

Jan Crosby, head of housing at accountants KPMG, who believes this crisis will only worsen if the supply of new homes in the UK isn’t increased,  told the Guardian newspaper:

“In 2005, the average price of a home was £186,000 – by 2015 it was £288,000. An increase of more than £100,000, or 55%, in just 10 years is concerning. In 2005, average annual earnings were £18,949 and by 2015 the ONS recorded them as £22,487. If we don’t see reform, in another 10 years the gap between house prices and earnings may have become truly impassable.”

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If you are looking to sell your house fast than we are here to help. Our team of property experts are always on hand to share their expertise with you and help you achieve your aim of selling your house fast in a time scale that suits you and not us. So if you want to sell your house fast than give us a call on 08000 443 911.

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Irish Home Repossessions Rose By 80% in 2015

Home repossessions in Ireland have rose by a massive 80% last year – with an extra 1,500 people declaring themselves homeless.

According to official figures from the Central Bank for the first three quarters of 2015, 564 homes were repossessed up until the end of September 2015. This is a huge increase in repossession compared to 2013 when 313 homes were repossessed in total.

Reacting to theses figures Pat Doyle, CEO of the Peter McVerry Trust has expressed his concern at this spiralling rate of house repossessions. He pointed out that it was Mortgage arrears that was the main reason for these repossessions.

Doyle commented that:

“The number of buy to let properties in arrears remains over 30,000 and we know financial institutions are evicting sitting tenants to secure vacant possession. Many of those tenants will have nowhere to go but into homeless services while the unit they once rented will likely sit empty for a long period of time until the banks see fit to put it on the market.”

With the overall homeless figure continuing to rise as well at the same time in Ireland this could be set to make the homeless figures even worse.

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at National Homebuyers guarantee to buy your house – the location or the condition does not matter; we buy any house!

If you are concerned about legal fees than there is no need to worry. We understand anyone in this situation does not want to end up paying excessive legal fees and that is why we will even pay up to £1000 of your legal costs*.

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UK exit from the EU could result in house prices dropping by 5%

Prime Minister David Cameron announced over the weekend that there will be a referendum in the UK to stay or leave the EU on 23 June 2016. Online estate agent eMoov has predicted that if the UK votes to leave the EU than house prices could potentially drop by 5% or more. They believe that it won’t necessarily be leaving the EU itself that could see house prices drop, but the air of uncertainty that will have a detrimental impact on the market.

Since the UK joined the EU in 1973, the average house price has increased by over 2,000%. However this new report by eMoov suggests that a “Brexit” (the term used to described the British exit from the EU) could mean that the average UK homeowner could see their property fall in value by more than £11,000.

In this survey eMoov polled over 1,000 UK homeowners and found 55% of those asked, believed leaving the EU would affect the value of their property. Just over a third (34%) think they could increase; while 21% think they could decrease.

Russell Quirk, Founder and CEO of eMoov.co.uk stated that

“An EU exit would cause a nervous ripple effect across the UK, with homeowners and potential buyers choosing to baton down the hatches and weather the potential uncertain economic storm, before committing to such a notable financial decision.”

He went on to say:

“Should the UK public vote to leave the EU, we believe it could have a detrimental knock on effect to the UK property market. We’ve been part of the EU for over 40 years now, so it’s understandable that such a momentous change will lead to uncertainty amongst the UK public, as to the resulting implications an exit will have on them. This air of uncertainty will lead to inaction amongst those looking to buy and sell and the resulting dwindle in demand, will always lead to a reduction in house prices.”

National Homebuyers – We Buy Any House

National Homebuyers will buy any house or property!

If you are looking to sell your house fast than we are here to help. Our team of property experts are always on hand to share their expertise with you and help you achieve your aim of selling your house fast in a time scale that suits you and not us. So if you want to sell your house fast than give us a call on 08000 443 911.

Get your no obligation instant cash offer now by using the Get Offer on the right hand side of this page.

 

Repossessions at the lowest they have been for a decade

According to the Council of Mortgage Lenders fewer than one in 1,000 mortgages ended in repossession in 2015. And, with fewer than 1 in 100 mortgages in any sort of arrears, at 0.92% the annual arrears rate is also at its lowest for more than a decade.

At 10,200, the total number of repossessions in 2015 was less than half the number in 2014 – down from 20,900. Caution is needed on the year-on-year comparison, because the timing of some possessions may have been affected by the aftermath of a court case which has been causing lenders to review their processes. However, it is likely that the underlying trend is still emphatically down.

repossession

CML economics

Beneath the headline figures, the CML quarterly data shows home-owner mortgage arrears running at 1.03% of all loans at the end of 2015, with buy-to-let at a lower rate of 0.31%, continuing the recent trend of a lower prevalence of arrears in the buy-to-let market.

The Council of Mortgage Lenders quarterly data clearly show repossessions are down, with around 1 repossession per 2,500 mortgages in the buy-to-let market in the fourth quarter of the year, compared with 1 in 5,000 in the home-owner market.

The number of mortgages in the most severe arrears was also showing signs of decreasing. By the end of 2015, 23,700 mortgages were in arrears of 10% or more of the mortgage balance, down from 24,200 at the end of 2014.

repossession

Source: CML economics

Commenting on the latest data, Council of Mortgage Lenders director general Paul Smee said:

repossessionOf course it is good news that the levels of mortgage arrears and repossessions remain low and falling. But, at the risk of sounding as if we are crying wolf, we would continue to urge all borrowers to plan ahead for a time when the interest rate environment may be less benevolent. Lenders do not wish to see borrowers who  are coping currently  falling into difficulty if and when rates do eventually rise.

National Homebuyers – Stop Repossession Immediately

stop repossession of your homeNo matter what stage of the home repossession process you find yourself
at National Homebuyers guarantee to buy your house – the location or the condition does not matter; we buy any house!

If you are concerned about legal fees then there is no need to worry. We understand anyone in this situation does not want to end up paying excessive legal fees and that is why we will even pay up to £1000 of your legal costs*.

To stop repossession apply now for a no-obligation offer to end the perils of repossession and see what the UK’s leading quick property purchase company can do for you now!

We buy any house, regardless of its condition. Contact us today for a fast, no obligation valuation of your home so we can help stop repossession of your home – Fast Cash Offer.

The biggest review into the housing market being launched

APete Redfern review into the housing market has been launched, spearheaded by Pete Redfern, the chief executive of Britain’s third-biggest house builder Taylor Wimpey. The review, also being backed by John Healey MP, the UK shadow housing minister, aims to be an independent view into the housing market over the next 10 years.

This review will be the first of its kind since Dame Kate Barker, a business economist & former member of the Bank of England’s Monetary Policy Committee, reviewed the housing industry back in 2003.

The Redfern Review will take a hard look at the causes of the recent decline in home-ownership. Labour claims that home ownership in the UK is now at its lowest level for nearly three decades.

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The review will specifically examine this apparent decline in home ownership throughout the UK and highlight the key problem areas fuelling the housing crisis, such as affordability for first-time buyers and housing supply and planning. The findings of this new housing review are expected to be at the core of Labour’s future housing policy.

Addressing delegates at Labour conference John Healey said

John Healey“Yet home ownership has fallen each and every year over the last five years.  Now at the lowest level for nearly three decades. And for those under 35, it’s down by over a fifth. George Osborne was right to describe this decline in home ownership as a ‘tragedy’. But it’s happening on his watch. It’s part of his party’s five years of failure,” he added.

Pete Redfern is calling on George Osborne to “rein in” the Help to Buy Scheme. He showed concern that the government’s plan to build more than 200,000 discounted houses for first-time buyers could be in doubt because of confusion about how the scheme would work. He also believes that the Government’s target to build a million homes by 2020 is unachievable and quality will be compromised if the industry does try to meet it.

Mr Redfern was quoted as saying

“It’s not to knock party policy but to question and challenge, and to say ‘this is working really well’, or ‘this isn’t working well but may do in the future’. It’s pointless having the review if you’re not willing to challenge policy.”

He then went on to say

“I have an ambition for a healthy and sustainable housing market that will give current and future generations the opportunity to own their own home. The continued structural decline in home ownership presents a long-term social and economic challenge and necessitates a considered review. This is not about party politics, it affects us all.”

National Homebuyers – We Buy Any House

we guarantee to buy any home for cashNational Homebuyers are UK property buyers who will buy any house or property!

If you are looking to sell your house fast than we are here to help. Our team of property experts are always on hand to share their expertise with you and help you achieve your aim of selling your house fast in a time scale that suits you. So if you want to sell your house fast than give us a call on 08000 443 911.

Get your no obligation cash offer instantly today by using the Get Offer on the right hand side of this page.

The Only Way Is Up – Property Predictions For 2016

None of us know exactly what lies ahead, but experts always have their views; as do everyday people who like to keep a keen eye on their property prospects and wider finances. A recent survey has asked public opinion on a range of issues, including house prices and salaries – and most predictions involve increases.

According to readers of financial website LoveMoney.com, several aspects of our economy could experience a rise in 2016. More than a fifth of survey respondents agreed with the Royal Institute of Chartered Surveyors (RICS) that house prices were likely to increase by 6% or more, while nearly half also agreed that they would go up, but probably only by up to 5%.

UK homeowners with tracker mortgages are always keen to keep an eye on the Bank Of England’s base rate, for which a rise has long been anticipated in recent times – and LoveMoney’s reader research revealed expectations of a small increase (0.75%) among 49% of people. However, 33% believe nothing will change.

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Meanwhile, 50% of people believe that inflation will increase by 1%; with incomes optimistically expected by nearly half of survey respondents to increase by 2%. If the latter materialises, it could be good news for those hoping to buy homes, who require proof of a good salary to obtain a mortgage – but will the changes come soon enough for home owners keen to achieve a quick house move?

Opinions on the stock market were more varied, with 33% believing there would be an increase of 5% or less, but other opinion divided between consistency (18%), a fall of 5% (17%), an increase of up to 10% (12%) and other potential changes.

If you’d like to improve your personal financial situation by selling your home, ask National Homebuyers for advice. We’ll buy any property and can help you sell your house quickly.

Call 08000 443 911 or request a call back to find out how much you could get.

National Homebuyers – We Buy Any House

National Homebuyers are UK property buyers who will buy any house or property!

If you are looking to sell your house fast then we are here to help. Our team of property experts are always on hand to share their expertise with you and help you achieve your aim of selling your house fast in a time scale that suits you and not us. So if you want a to sell your house fast  then give us a call on 08000 443 911.

Get your no obligation cash offer now by using the Get Offer on the right hand side of this page.

How will house sales progress in 2016?

Looking ahead to another new year, many people are wondering how their lives will change over the next 12 months. Homeowners may decide that this is the year to move on and start afresh somewhere new – but will the market make it easy?

House prices are still rapidly increasing beyond the reach of the average would-be buyer, but a leading index has suggested the rate of growth could be softening. Figures from mortgage lender Halifax, for example, revealed some easing in inflation in recent months.

“With house prices already high and growing much faster than wages, we expect price growth to slow markedly during 2016,” said Hansen Lu, a property economist at Capital Economics, quoted by The Week.

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This would be good news for UK property buyers – though many are still likely to struggle to afford deposits and obtain mortgages of the level required – but perhaps less promising for sellers. For lots of people, the stress of the house-selling process is eased by the promise of financial rewards; but if they are unlikely to attain the price they really want for their house, they may prefer to avoid the process altogether, even if it means not moving on to the new life they’ve planned.

Some of the ways to avoid the usual hassles of viewings, estate agents and worrying surveys include property auctions, or selling directly to a professional home-buying agency. This means the vendors can enjoy a quick house sale for cash and keep their stress levels lower, which is always a smart resolution at the start of a new year. After all, life is too short for hassle and worry.

Want to avoid stress in 2016 and still sell your house or flat? Ask National Homebuyers for advice, as we guarantee to buy any home. Call 08000 443 911 or request a call back to find out how much you could get for your property.

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Deal or No Deal? Buy Noel Edmonds House

With the festive period fast approaching it is almost time to celebrate Noel. But you could be celebrating another Noel too for the right money. OK, we could not resist the Christmas pun but recently it has come to our attention that Noel Edmonds, the English television presenter of Deal or No Deal, has put his country house in Bitton, Gloucestershire.

Named Fieldgrove House, Noel’s property is a grade II listed Georgian mansion which comes with 7 bedrooms and is situated on 15 acres of landscaped gardens, paddocks, ponds and even comes with its own lake.

The property comes complete with a gym, master bedroom suite with dressing room, games room, boot room and a larder. The house has 6 bathrooms, 4 reception rooms, and a separate 1 bedroom annex.

This exceptional and immaculate Georgian house with stunning scenery would make a great place to have a popular “house party”.

Right that’s the last of the Noel Edmonds puns, National Homebuyers will leave you in peace to view the property if you wish to buy it or simply be noisy like we was.

Noel Edmonds HouseNoel Edmonds HouseNoel Edmonds HouseNoel Edmonds House

*Source of Photographs: Rightmove

National Homebuyers – We Buy Any House

National Homebuyers are a UK based property buyer who really do buy any house or property! In fact we will buy anything, absolutely anything! Whether it is a house, flat or bungalow we will buy it!

If you are looking for a fast house sale then we are here to help you. Our team of property experts are always on hand to share their expertise with you and help you achieve your aim of selling your house fast in a time scale that suits you and not us. So if you want a sell house fast service then give us a call on 08000 443 911.

Get your no obligation cash offer now by using the Get Offer on the right-hand side of this page and take the hassle out of selling your home!

$17.5 million Apocalypse Bunker For Sale

Apocalypse Bunker For SaleNational Homebuyers have recently come across this awesome doomsday shelter. So if you fear the out break of nuclear war or you want a place where you can survive the zombie apocalypse then why not put an offer in for this unique property.

Harry Norman Realtors, a real estate firm in have listed this $17.5 million underground facility and bunker dubbed “The Facility” located in Southeast Georgia but the actual address hasn’t been disclosed. It is the only privately owned underground bunker of its kind in the United States.

Apocalypse Bunker For SaleThe Facility was built in 1969 as an Army communications centre in case of a nuclear war with Russia but has now been fully renovated to government standards in 2012. The 8-hectare, 13.7m underground bunker is said to be able to withstand the deadliest of apocalypses. This is because the bunker has been built to withstand a 20 kiloton nuclear blast and has 3-ft thick walls. So those pesky zombies will struggle to force their way into your new home.

But if gore is your thing, then you can watch them trying to get in using your $138,000 CCTV security system powered by your own power plant backed up by a solar power system.

Apocalypse Bunker For SaleWhile you watch the world crumble outside, residents inside the shelter can live it up in apocalyptic bliss because the first floor of this facility hosts a common area “similar to a luxury hotel.” There are four luxury apartments that are totally self-contained and have two full bedrooms, a kitchen and dining area, a living room with TV and internet and a large bathroom. There are also staff bedrooms available.

Harry Norman state that “The Facility” is equipped with a full workshop, a separate business and conference centre and fully equipped medical room.” There is also a home theatre that seats 15, along with exercise and recreation rooms. This then allows you the privilege of seeing the end of the world out in style.

Apocalypse Bunker For SaleSo if you want the best in security and comfort for your family and you have a spare $17.5 million then why not by this underground, impenetrable and undetectable apocalypse friendly home. This property is truly the ultimate luxury safe haven in an increasingly dangerous world.

In your face Zombie Apocalypse!

But what if the Apocalypse never happens? This might be an awesome property to own but if the world doesn’t get over run with zombies or attacked with a nuclear bomb, then this bunker might be a bit of an overkill as a home. Like many other property sellers on the market, the owners of this doomsday shelter may find it difficult to sell this property. If that is the case then property sellers nowadays turn to companies like National Homebuyers to buy their homes for cash. Whether their property is a standard three bedroom house in the suburbs or a secret apocalyptic anti-nuclear attack defence bunker, we will buy any property.

If you’re concerned that your property will struggle to sell easily on the open market, contact National Homebuyers for advice, as we buy any house for cash. Call 08000 443 911 or get an Offer on your property today.

National Homebuyers – We Buy Any House

homebuyer man with guaranteeNational Homebuyers are a UK based property buyer who really do buy any house or property! In fact we will buy anything, absolutely anything! Whether it is a house, flat, bungalow, park home or doomsday bunker we will buy it!

If you are looking for a fast house sale then we are here to help you. Our team of property experts are always on hand to share their expertise with you and help you achieve your aim of selling your house fast in a time scale that suits you and not us.

Get your no obligation cash offer now by using the Get Offer form at the top of this page and take the hassle out of selling your home!

Are Luxury London House Prices Falling?

The West End of London has long had a reputation for exorbitant wealth and opulence. A reputation that was substantiated last week by the sale of an 11ft by 7ft run-down car garage in Chelsea that was sold for £550,000. That’s more than double the UK average house price stipulated by Rightmove of £271,669. In fact, a combination of a stronger pound against the dollar and increased office rental costs have recently seen London leap-frog Hong Kong to become the world’s most expensive city. The stronger pound and the threat of the mansion tax has also meant, however, that London’s premium properties have increased by only 3% this year compared to the 41% appreciation since the financial crash of 2008…

… So, is the luxury london property bubble about to burst? And what does that mean for the rest of us?

There has, after all, been compelling arguments that suggest that London’s luxury developments are responsible for saving the UK’s mainstream housing market. London is home to more millionaires per capita than any other city in the world and has more billionaires, 72, than any other city in the world, edging out New York and Moscow. The recent crisis in Ukraine, moreover, has seen even more Russian – and Ukrainian – capital flow into London amid fears of international sanctions.

The aforementioned increase in the strength of sterling and threat of a mansion tax, alongside a number of other economic and policy changes threaten to change the way business is conducted in the capital. To continue, this could potentially reduce the number of foreign investors in London as they seek out more fertile cities and emerging markets worldwide. There are economists and academics who believe London’s property market could unravel, but there are also those that believe domestic concerns in other countries could sustain or even increase the amount of money pouring into London, mostly from Asia. Either way, the UK housing market as a whole remains inextricably linked to events occurring in London so we will all be affected. How things will unfold is still unclear, only time will tell…

 

National Homebuyers – We Buy Any House

National Homebuyers are a UK based property buyer who really do buy any house or property! In fact we will buy anything, absolutely anything! Whether it is a house, flat or bungalow we will buy it!

If you are looking for a fast house sale then we are here to help you. Our team of property experts are always on hand to share their expertise with you and help you achieve you aim of selling your house fast in a time scale that suits you and not us. So if you want a sell house fast service then give us a call on 08000 443 911.

Get your no obligation cash offer now by using the Get Offer on the right hand side of this page and take the hassle out of selling your home!

Can’t sell my house is part of a larger problem

Can’t sell my house issues are not just affecting the UK, according to experts. Careful research has concluded that UK trends concerning home prices have been found across Europe.

There is a lot more variation between different regions within the same country than between different countries. For example, London has seen similar price and sale trends to Paris. Within the UK, however, the impact of can’t sell my house issues vary among different areas. For example, Cornwall and Scotland have had a better experience than many areas of the UK outside of London. While sellers should not get overly excited, this may be a bit of a bright spot in an otherwise gloomy economic forecast. Any news that may signal a possible change should be considered positive.

On the subject of can’t sell my house issues, however, sellers should remember that local issues impacting sales prices in different regions have not been studied intensively. This can make it a bit difficult for those selling property to determine whether they need to wait, make improvements to their houses to get a better value, or go ahead and try to sell anyway. One of the most important things that experts urge is to not seek an overly simplistic solution. There is not a one-size-fits-all solution to this particular problem, and sellers are advised to still be careful in their dealings.

If you are looking for a fast, hassle free way to sell your home, National Homebuyers can help. We are nationally reputed house buyers, we offer a quick house sale service that is both chain and hassle free. Unlike other companies that buy houses, we buy your house directly, allowing us to offer you an unrivalled service if you are looking to sell your house fast.

National Homebuyers – We Buy Any House

homebuyer man with guaranteeNational Homebuyers are a UK based property buyer who really do buy any house or property! In fact we will buy anything, absolutely anything! Whether it is a house, flat or bungalow we will buy it!

If you are looking for a fast house sale then we are here to help you. Our team of property experts are always on hand to share their expertise with you and help you achieve you aim of selling your house fast in a time scale that suits you and not us. So if you want a sell house fast service then give us a call on 08000 443 911.

Get your no obligation cash offer now by using the Get Offer on the right hand side of this page and take the hassle out of selling your home!

UK ‘Mortgage Prisoners’ Are Moving To Solve Their Financial Problems

Many UK homeowners are moving because of financial reasons and choosing to live mortgage-free, whether they have enough equity to buy a smaller property or choose to live in rented accommodation. The worries of decreasing house prices, which Nationwide have reported in August to be 2.6% lower than the same time last year, and ever-increasing costs of living and maintenance mean that a significant number of homeowners are moving into rented accommodation to ease their financial stresses.

The FSA report (Mortgage Market Review) released towards the end of October 2012 states that 45% of homeowners (55% of first-time buyers) who took on a mortgage since 2005 have found themselves as ‘mortgage prisoners’. The tightening of lending restrictions after the credit crunch mean that these ‘mortgage prisoners’ will be unable to re-mortgage and will be forced to pay any increase in interest that the lenders choose to enforce. A large number of these homeowners are facing financial problems and those whose financial difficulties make them unable to keep up with their mortgage repayments will face repossession and a black mark on their credit history, unless they sell their property quickly and move into a lower value property or rented accommodation.

The FSA report has put forward new rules, which will come into effect in April 2014, which will protect those ‘mortgage prisoners’ and will ensure that the more sensible lending criteria that lenders are currently working to are built into the system to protect borrowers. This means that there are a lot of homeowners who took out a mortgage before the credit crunch, who will not be eligible for new lending in the new rules; those that can would be best to follow the lead of those that have been forced to move due to financial issues, and sell their property while they can to circumvent any future financial issues. If the current decline in house prices continues, many more ‘mortgage prisoners’ will find themselves in negative equity and will have no options open to them to avoid being repossessed.

If you find yourself needing to sell your house fast in order to alleviate financial difficulties, contacting a quick house sale company such as National Homebuyers may well be your best option. We buy your house directly, thus removing any risk offered by a complicated property chain and allowing us to offer a fast, hassle free service. We buy any house, regardless of its condition and irrespective of your circumstances or reason for selling. So if you are looking to sell property and wish to do so quickly, contact us today.

Selling Property In 2013

Sell your house in 2013

The festive season is behind us and the hangovers are slowly wearing off in the office, as New Year’s resolutions are being made (and broken) a large number of people will start looking for their dream home, but when is the best time of year for those selling property?

It may not be the best time of year for the property market, but the New Year always sees a boost in buyers looking for properties. The Christmas season is a very slow period for the property market, with a lot of Estates Agencies closing their offices, as there just aren’t the buyers around looking for properties in the festive season. Buyers tend to wait until the New Year to start seriously looking for properties, and there are a lot of people who use the New Year as an opportunity to reassess their situation and this may well include moving on to a new home!

The market also tends to gain momentum in the spring months, as the weather warms up and people can bear the thought of moving, so in March – July there are the most buyers looking for properties, which means more demand and higher prices!

The market will see a lull in the summer, whether people are on holiday or just trying to cope with having the children at home, they will start looking again in the autumn so September to November is the other good time to sell, but it will gradually slow down as winter sets in.

Having said this anytime can be the right time to sell as it is just a case of waiting for the right buyer. Property markets do vary around the country and it is important to keep an eye on the property market and make sure you are maximising your property’s potential. Fast purchase property companies like National Homebuyers are always buying properties, at any time of year, so if you do need to sell and can’t wait months for the market to pick up there is always a solution.

National Homebuyers – We Buy Any House

homebuyer man with guaranteeNational Homebuyers are a UK based property buyer who really do buy any house or property! In fact we will buy anything, absolutely anything! Whether it is a house, flat or bungalow we will buy it!

If you are looking for a fast house sale then we are here to help you. Our team of property experts are always on hand to share their expertise with you and help you achieve you aim of selling your house fast in a time scale that suits you and not us. So if you want a sell house fast service then give us a call on 08000 443 911.

Get your no obligation cash offer now by using the Get Offer on the right hand side of this page and take the hassle out of selling your home!

Predictions For The UK Property Market In 2014

There are many conflicting predictions for the property market it 2014. The consensus seems to be that house prices will continue to rise in London and the South-East, while the market in the rest of the country will remain fairly stagnant.  However, this is not the best news for house buyers.

An increase in house prices sounds like it should be a good thing, but it is likely to cause another property bubble which will eventually burst, leaving the country in yet another economic crisis. The average house price is predicted to smash the 3% stamp duty threshold, which will make moving house unaffordable for the majority of UK families. Increasing house prices will also make it harder for first time buyers to get onto the property ladder. The country may soon find itself in the position that first time buyers are priced out of the market completely causing the whole property market to slow down. A stable property market relies on a market with a majority of first time buyers able to purchase properties, so that first-time homeowners are able to sell their property and upsize.

Overall, predictions for 2014 aren’t all bad, but home owners and first time buyers should be prepared that house prices could fall again before the property market stabilises. Market analysts have predicted that the property market will not reach pre-2007 conditions until 2020.

National Homebuyers – We Buy Any House

homebuyer man with guaranteeNational Homebuyers are a UK based property buyer who really do buy any house or property! In fact we will buy anything, absolutely anything! Whether it is a house, flat or bungalow we will buy it!

If you are looking for a fast house sale then we are here to help you. Our team of property experts are always on hand to share their expertise with you and help you achieve you aim of selling your house fast in a time scale that suits you and not us. So if you want a sell house fast service then give us a call on 08000 443 911.

Get your no obligation cash offer now by using the Get Offer on the right hand side of this page and take the hassle out of selling your home!

Is Essex In A House Price Bubble?

House prices in Essex are rising at an alarming rate, according to a recent survey by Nationwide. House prices have increased by 25% over the last decade and are continuing to rise. Residents and those looking to move into the area see this is as a positive sign for the Essex housing market, but it could mark the beginning of another housing bubble.

Vince Cable has warned that house prices are making home-ownership unaffordable. He has criticised the government’s Help to Buy scheme, warning that it will drive house prices up even further. While rising house prices are a good thing for mortgage-free homeowners, they are very bad for middle income families and first time buyers who are unable to afford the properties they want to live in. This will in turn cause problems for those looking to sell their Essex properties, as the unaffordability will eventually price buyers out of the market completely. The only way to avoid a housing crisis is to build more homes and increase the supply, so that it can meet the ever growing demand for property in Essex. This should keep house prices from rising and make the housing market much more stable.

Market analysts are predicting that if no action is taken to prevent the alarming rate that house prices are rising it could eventually burst the Essex property bubble and cause another dramatic crash in house prices. This will leave a lot of Essex homeowners in negative equity and out of pocket.

 

National Homebuyers – We Buy Any House

homebuyer man with guaranteeNational Homebuyers are a UK based property buyer who really do buy any house or property! In fact we will buy anything, absolutely anything! Whether it is a house, flat or bungalow we will buy it!

If you are looking for a fast house sale then we are here to help you. Our team of property experts are always on hand to share their expertise with you and help you achieve you aim of selling your house fast in a time scale that suits you and not us. So if you want a sell house fast service then give us a call on 08000 443 911.

Get your no obligation cash offer now by using the Get Offer on the right hand side of this page and take the hassle out of selling your home!