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What the Spring Budget Means for Home Movers in South Devon

What the Spring Budget Means for Home Movers in South Devon

A two-minute read.

This afternoon the Chancellor Rishi Sunak outlined his plans to get England back on track as we come out of the pandemic.

Among furlough extensions, extra support for the self-employed and business loan schemes was the welcome news that the stamp duty holiday is being extended.

When it was introduced, the original deadline was March 31 2021.

Here’s what the Chancellor announced this lunchtime.

Until 30 June 2021, no stamp duty will be charged on a residential property bought for up to £500,000.

Until 30 September 2021, no stamp duty will be charged on a residential property bought for up to £250,000.

From 1 October 2021, the stamp duty rate returns to pre-Covid-19 thresholds.

What it Means to Movers

For people with sales currently in our pipeline, it means they will not miss out on the savings the holiday is providing. This is potentially thousands of pounds and means people’s moving plans will not be disturbed.

Mortgage Market Opened Up

There was also good news for people planning to buy a home but struggling to save what is often a sizeable deposit.

Sunak announced a Mortgage Guarantee scheme that means homebuyers will be able to access 95% mortgages, backed by the Government, from High Street banks and lenders.

Lenders are being offered incentives to provide mortgages to first-time buyers and existing homeowners, with just 5% deposits to buy homes worth up to £600,000.

The Chancellor said: “This will give people the chance to go from Generation Rent to Generation Buy.”

If the Spring Budget has made you want to proceed with your moving plans, we’d love to help you.

To find out more about what the stamp duty holiday extension and Government-backed mortgage guarantee scheme means to you, call your local office.

Thanks for reading.

©Chamberlains 2021

 

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The No 1 Reason Behind Deposit Disputes in South Devon

In this three-minute read, we look at how South Devon landlords can protect themselves from getting caught up in the most common cause of end-of-tenancy disputes.

When a tenancy comes to an end, one issue more than any other causes disagreements.

And it’s not holes in walls or missing rent payments that take the number one spot.

According to recent data* cleaning is the most common cause of strife.

Yes, that’s right, grotty carpets, greasy ovens and filthy loos most often turn out to be the bone of contention between tenant and landlord.

The latest figures (which cover the year up to March 2020) show that there were 34,993 disputes in 12 months (a slight drop from the previous year).

Of these disputes, cleaning was cited in 42% of cases followed by:

  • Damage to the property (41%)
  • Redecoration (39%)
  • Gardening (23%)
  • Rent arrears (14%)

So why does cleanliness (or lack thereof) spark so much antagonism? The problem is everyone has a different definition of what constitutes “clean”.

A landlord may be looking for a professional standard of cleanliness, while the tenant may think waving a cloth over a surface or two is enough.

As most tenants want their deposit back, they almost always vociferously argue that they have left the property in the same condition as it was at the start of the tenancy.

The only way a landlord can push back if this isn’t the case, is by having a clear and definitive inventory that includes proof of the property’s condition.

The inventory should include photographs and videos (dated, of course) and written descriptions of the condition of the property. (Make sure you cover areas that might be the subject of dispute, such as inside the oven or the shower.)

A good inventory serves two purposes:

1) It gives the tenant a clear understanding of what is expected of them. They know you’ll be checking at the end of the tenancy, so they are more likely to take good care of the property.

2) If you do end up in a dispute, you have the inventory to back up your side of the story. An inventory that is too general and lacking in detail, means it will be almost impossible to make your case.

With the issue of cleaning – as with pretty much all other aspects of being a successful landlord – it all comes back to communication.

Being open and clear with your tenant right from the beginning (and giving them a copy of the inventory) will set the right tone.

Regular inspections throughout the tenancy will maintain the momentum, and a friendly but straightforward chat just before the final inspection will leave little room for confusion.

If you’re a landlord in South Devon and have any questions about managing a tenancy, get in touch with us here at Chamberlains, we’re happy to help.

* Data from The Dispute Service – an organisation that offers a landlord/tenant resolution service – was analysed by Decorus for Sage, property management software providers.

©Chamberlains 2021

 

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What’s the Story? Six Famous Fictional Homes

In this two-minute read, we look at the homes of some of our favourite fictional characters.

Today is World Book Day, so here’s a list of six famous fictional homes (because even plucky heroes and dastardly villains need to keep a roof over their heads).

  • Number 4 Privet Drive. From the outside, this suburban home in Little Whinging, Surrey, is your classic “well presented three-bedroom modern residence”. But take a closer look, and you’ll find a young wizard called Harry Potter sleeping in a tiny cupboard under the stairs.
  • Satis House. Although it’s grand in scale, Satis House is best described as “in need of modernisation”. The clocks have all stopped in this decaying mansion which is home to batty spinster Miss Havisham and her adopted daughter Estella in Great Expectations.
  • 221B Baker Street. The home of super sleuth Sherlock Holmes consists of “a couple of comfortable bed-rooms and a single large airy sitting-room, cheerfully furnished, and illuminated by two broad windows”. Given its central London location and elegant Georgian architecture, no doubt 221B would be snapped up for a tidy sum these days (if it were real, of course).
  • Villa Villekulla. This one is a family home brimming with character – and a horse and monkey. Pippi Longstocking’s Villa Villekulla has several unique selling points, including a tree that grows Sockerdricka, a sugary Swedish soft drink.
  • Manderley. This country pile in remote, coastal Cornwall is a prime example of “location, location, location”. It plays a central role in Daphne du Maurier’s spine-chilling Rebecca. Home to the second Mrs De Winter and the devious Mrs Danvers, the mansion even features in the opening line of the novel: “Last night I dreamt I went to Manderley again.” 
  • Bag End. Located in Hobbiton, this one-storey residence (home to Bilbo Baggins and later, Frodo) is built into a hill and surprisingly cosy. Despite its discreet exterior, it has bedrooms, bathrooms, several pantries, and even a cellar. Ideal for those looking for a low carbon lifestyle.

If you’re looking for a change of scenery, whether it’s to upgrade, downsize or relocate, get in touch with us here at Chamberlains. Whatever your story, we can help you with the next chapter.

 

© Chamberlains 2021