Tag Archives: Lettings

Photo_007

South West Wales Estate Agents add expertise to Agents’ Mutual

Leading Estate Agents from across South West Wales are putting their collective weight behind Agents’ Mutual, a new online property portal set to compete with Zoopla and Rightmove.

So far 115 agents (effectively 85% of all agents) including Astleys, Carter Phillips, Clee Tomkinson Francis, Dawsons, John Francis and Fresh, from across the region have committed to join OTM and will be moving away from either Rightmove or Zoopla.

Therefore the new portal will immediately become the carrier showing the most properties in this area. This is a major change and a significant development for those interested in buying or selling property.

Agents’ Mutual is set to launch its UK-wide website with the domain name ‘OnTheMarket.com’ in January 2015 with around 4,000 agencies already recruited.

Unlike its competitors, Agents’ Mutual will be 100% agent owned and there is a consensus among agents that ‘OnTheMarket.com’ will be give their client base more choice.

“This is a chance to support and play an active part to developing what is expected to be, the country’s ‘most complete’ property portal, which doesn’t happen very often and Dawsons along with the majority of Swansea agents have signed up to make sure the public get the best property portal,” said Dawsons Senior Partner Christopher Hope.

“The clear advantage of this portal over others, will be the genuine opportunity for clients to see the largest available choice of homes at the click of a button.”

Nigel Jones, Director at Astleys, is confident ‘OnTheMarket.com’ will present more than adequate competition for Zoopla and Rightmove.

“It will be a website designed by agents for buyers and sellers. There will be no subliminal adverts or distractions just properties. This will give a better user experience to clients and customers. It is also the only property portal to be endorsed by the National Association of Estate Agents,” said Nigel.

“The impact of these portals have revolutionised the way buyers and sellers search for properties but this duopoly exercise too much influence and the market needs a further portal offering a different and clearer message.”

Matthew Wiggall, Director at Fresh, said: “The introduction of ‘OnTheMarket.com’ is hugely exciting and a welcome change for property agents. We at Fresh have been a supporter from an early stage and firmly believe it will quickly become the public’s first choice to search for properties after its launch in January 2015″.

James Phillips, Director at Carter Phillips, and Neil Jones, Business Development Manager at Clee Tompkinson Francis, agree Agents’ Mutual will provide legitimate competition for the other property portals.

“It is great we as agents have come together to create this portal in competition to Rightmove and Zoopla and the plan is that it will become a one-stop-shop for our customers. We need this in the marketplace,” said James.

Neil added:“Agents’ Mutual will provide a property-search service to agents, their clients and the property-seeking public which is not driven by the narrow requirement of maximising returns to shareholders.

“All the profits will be put back to improve the portal or keeping advertising fees as low as possible. That is the key.”

That is a view backed up by Paul Beaton, Director at Astleys. “The site will be run by agents and we feel that will work better for agents not onlyin this part of Wales, but across the country. It gives us more control on the marketing of the site.”

Former CEO of Primelocation, Ian Springett, has been appointed Chief Executive ahead of the portal’s launch.

“We’re delighted that over 100 quality estate and letting agencies across south-west Wales have signed up with us. Their collective support is a resounding vote of confidence and a major boost to our market strength in Wales,” said Ian.

“We’ll be hitting the ground running in South West Wales as soon as we launch in January 2015 and I’m confident that such a strong strategic message of commitment will also serve as yet another tipping point for many other independent firms to join us to create a winning portal that serves all agents across the UK.”

David Treharne

Could letting out your property provide the extra income you need?

Whether you are new to the buy-to-let scene or an experienced landlord, fully understanding the ins and outs of buy-to-let mortgages is essential when managing your property portfolio. Here the UK’s leading independent mortgage broker, Mortgage Advice Bureau, offers the ultimate guide to letting out your property.

There are two main ways that buy-to-let properties can make you money. Capital growth is where the value of your property increases over a period of time, and while property value can increase, it is important to remember that it can also come back down as local house prices and market conditions fluctuate. The alternative way is via rental income, which is the amount of money that you receive from your tenant.

“It is not uncommon for someone to become a landlord accidentally. You may meet a new partner and move in with them whilst keeping your own to rent. You may have to move abroad to work but want to keep your home in the UK, or you may simply have difficulty selling your property. If this is the case, there are certain steps you should take when making the decision to turn your home into an investment,” said David Treharne from Mortgage Advice Bureau.

Telling your mortgage lender about your change in circumstances may sound simple, however, many would-be landlords overlook this. Your lender needs to give you formal ‘consent to let’ before you can let out your property, which may mean a higher buy-to-let interest rate. Whether you are opting for the most common form of tenancy, Assured Shorthold Tenancies (AST), or an alternative, failing to notify your lender will put you in breach of your mortgage agreement.

Telling your insurer is also integral to your success as a landlord. Your standard Buildings and Contents insurance policy will not cover you if the property is to be let out. Instead those looking to let their property should take out specific Landlord’s Insurance.

David added: “Seeking assistance from a letting agent is advised, and an experienced agent can help you set yourself up as a landlord or manage your property for a small fee. Your agent will be able to advise on buy-to-let mortgages, which operate in a very similar way to a residential mortgages. Despite having similar rates, fees and charges, a buy-to-let mortgage does have a few key differences.”

Mortgage interest rates for these types of mortgages tend to be higher than those for residential mortgages on your home, and the loan-to-value (LTV) is generally lower. Affordability is also assessed differently; whilst employment income, benefits and a combination of other sources are used to evaluate your ability to repay the loan, income is assessed as a percentage of your mortgage payment which is usually at least 125%.

“To explain, if your mortgage payment is £700, you would need to attain rent of at least £875. It is important to note that the rental value of your property would need to be confirmed by a surveyor.”

There are also different taxes with a buy-to-let mortgage, Stamp Duty has to be paid on a purchase of any property worth more than £125,000, but you may also have to pay Income Tax on the rent you receive and Capital Gains Tax when you come to sell the property. You must state your rental income on a Self-Assessment Tax Return but you can take off costs such as mortgage interest and letting agency fees from the rent before you declare your income.

Maintenance costs, annual safety checks, Landlord’s Insurance and Rent Insurance are all costs that need to be considered, even though they may not be taken into account by the mortgage lender.

“Landlords with more than one property should also seek independent advice as some lenders will only lend on properties valued above a certain level. Although this is usually around £40-50,000, there are some that specify minimum valuations at a level of £100,000 and above. Some also restrict the number of properties you can own or the maximum amount that they will lend to you in total,” concluded David.

For further information please contact David on 07501 720320 or email davidtr@mab.org.uk. Alternatively, please visit www.dawsonsproperty.co.uk

 

Ricky Killay21072014_08-01

Silver award winning estate agent set to say a big thank you to its workforce with company-wide celebration

After receiving the silver award for Wales Lettings Agency of the Year at The Lettings Agency of the Year Awards 2014, independent property expert Dawsons is set to host a celebratory evening for each and every member of its lettings workforce.

 

Dawsons attended a star-studded ceremony in London to collect the prestigious industry accolade. Run in association with The Sunday Times and The Times and sponsored by Zoopla Property Group, the team were joined by 500 other leading lettings agents at the glittering event, which was presented by best-selling international author, inspirational speaker, presenter and charity campaigner Katie Piper and renowned journalist, author and newsreader Penny Smith.

 

Ricky Purdy, Residential Lettings Director, said: “Being presented with the silver award was certainly a collective effort and I would like to thank the Dawsons team for their involvement. Through the rigorous judging process, which involved telephone interviews and mystery shopping exercises, our service shone.”

Residential Lettings Director Ricky Purdy with some of the Dawsons Staff
Residential Lettings Director Ricky Purdy with some of the Dawsons Staff

42 members of the Dawsons lettings team will be attending an evening celebration as part of the company’s ‘thank you’ for their hard work during the last 12 months. The windows of their branches have also been dressed to reflect their recent achievement.

“It’s a great achievement to receive the silver award for Wales Letting Agency of the Year, and rest assured we’re aiming for gold next year so watch this space!” concluded Ricky.

095_Wales_Silver_Dawsons

Leading independent estate agent receives national recognition after winning prestigious industry accolade

Dawsons has been named winner of the silver award for Wales Lettings Agency of the Year at The Lettings Agency of the Year Awards 2014.

Run in association with The Sunday Times and The Times and sponsored by Zoopla Property Group, the Dawsons team joined 500 other leading lettings agents in London to attend the star-studded ceremony.

Held at The Lancaster London Hotel overlooking Hyde Park, the ceremony saw best-selling international author, inspirational speaker, presenter and charity campaigner Katie Piper announce the winners of the coveted awards. Renowned journalist, author and newsreader Penny Smith also acted as compere.

Dawsons, winner of the silver award for Wales Lettings Agency of the Year, was delighted to receive the accolade. Ricky Purdy, Residential Lettings Director, added: “This award is a great achievement for Dawsons and all staff within the lettings department. This year’s competition was greater than ever with the panel of industry experts paying tribute to all winners being very much at the top of our industry.”

The awards ceremony marked the end of a rigorous and thorough judging process. A panel of 21 industry experts assessed initial entry submissions before conducting an extensive review of the entrants, which included over 12,000 minutes of telephone interviews and mystery shopping exercises. This process was overseen by The Property Ombudsman, Christopher Hamer.

Now running for over 10 years, these awards have become widely recognised as the most prestigious and difficult to win. The awards welcomed more entrants than ever before, nearly 6,000 offices were represented this year, but only the very best were crowned as winners.

“We have a wealth of experienced and knowledgeable staff within Dawsons that are deserving of this accolade and recognition. This award recognises their great efforts over the past 12 months,” concluded Ricky.