Tag Archives: dawsons

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Leading estate agent appoints new managers

Dawsons have made two key managerial appointments amid a reorganisation of branch managers.

Brett Hampton joins the leading estate agent as the manager of their Llanelli branch, while Kristian Davies is appointed lettings manager at Morriston.

With those significant appointments and the recent promotion to Sales director of Jo Summerfield-Talbot it has meant a change in key personnel.

Taking over Jo’s branch manager role at Gorseinon is Nicola Fulford, whose previous role as Swansea manager is being taken over by Lorraine Evans, who was previously manager at Llanelli.

“I am thrilled to see that staff are recognised for their achievements and these moves enables them to further develop and grow the business from all an already established and successful stand point,” said Jo.

“Brett Hampton is a great addition to our team and we are delighted to welcome him on board.

“It is pleasing that Brett recognises the very high standards and professionalism that Dawsons represents and being Swansea’s leading agent, he chose us over other offers of employment with our competitors.

“Brett is moving his family down from Somerset, where he has worked for leading estate agents and not only brings his passion but a wealth of experience, having worked some 15 years in the business.

“Brett will take up his new role officially on the 4th January 2016 as Manager based at our Llanelli branch, operating both sales and lettings.”

Kristian joins at a managerial level bringing with him several years experience in South Wales along with a great understanding of Dawsons’ immediate catchment and surrounding areas, together with the industry as a whole.

“Kristian strengthens even further our lettings team of more than 45, which use their vast experience and knowledge to provide an unrivalled service,” said Ricky Purdy, Dawsons Lettings Director.

“Several important additions to our lettings department across all offices which include Kristian, from our accounts team through to property management, assures that 2016 will once again be a successful year of accomplishments and achievements.”

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Dawsons’ Angie raises funds for hospital Intensive Care Unit

Angie Bastin of our Llanelli Branch has been busy fundraising for the Intensive Care Unit at the town’s Prince Philip Hospital as a huge thank you for the care her husband received.

On 11th November, Angie raised £985 with a Curry Night at the Masala Restaurant in Llanelli that included a raffle, bingo and auction. Prizes were kindly donated by local business, friends and family including Chris Hope, Senior Partner of Dawsons, who donated a Gower Boat Ride.

Last August, Angie’s husband was taken to Prince Philip complaining of numbness in his hands and feet. Overnight he was diagnosed with Gullain Barre Syndrome, an illness where the immune system attacks the central nervous system stripping all the nerves of insulation.

He was moved to the Intensive Care unit and within 48 hours was completely paralysed and placed in a medically induced coma. Over the course of five weeks he woke up and learnt how to eat, sit up and eventually walk again. He is home now and is making amazing progress with the ICU nurses calling him their ‘miracle patient’.

On 16th November, Angie and her husband returned to the Intensive Care Unit to present them a cheque for £1000 as a thank you for the help and care they received during the difficult time.

To find out more about Guillain Barre Syndrome please go to http://www.nhs.uk/conditions/Guillain-Barre-syndrome/Pages/Introduction.aspx

Or if you would like to help us donate to Prince Philip Hospital Intensive Care Unit please contact Angie on 01554 784400 today!

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Dawsons hammer home the success of auctions

This year has been a hugely successful year for Dawsons Auctions! Whether you are looking to sell a property with potential or purchase that perfect project property an auction could be for you.

In the past year Dawsons has been taking project properties and selling them to the highest bidder with great results.

An increased demand for both vendors and purchasers has been proved in the yearly results. In the past 12 months Dawsons Auctions has been hugely successful – 91% of properties on the auction book sold! At the last auction on 7th October, 94% of properties sold.

For a vendor looking for a speedy sale and certainty that a buyer won’t pull out auctions are the way to go. Once the hammer falls, the buyer puts down a 10% deposit and is given one month to pay the 90% of the cost.

Auction is also the perfect environment for buyers who are looking for a project property that they can then live in, convert for a rental income, or fix and re-sell.

“Buying a house or flat at a property auction is a much more transparent way to buy a house. You’ll see other bids as they are made, rather than having to take the estate agent’s word for it,” said Julie Lawry of Dawsons Auctions.

With the last auction for 2015 just finished, Dawsons Auctions has no intention of slowing down next year. To find out what all the excitement is about join us for next auction in 2016, 24th February at 3:00pm at the Swansea Marriott Hotel.

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Independent mortgage broker unveils how the slowdown in GDP growth could affect interest rates

After months of telling buyers and owners to prepare for the ‘inevitable’ rate rise at the turn of the New Year, the UK and global economy has continued to slow down, resulting in many economists doing complete U-turns in their thoughts.

Most now predict an increase in Quarter Four of next year but with the jargon the industry is known for, it can be difficult for the average homeowner to understand exactly how economic growth trends will affect their mortgage products, a subject that independent mortgage broker Mortgage Advice Bureau is determined to shed some light on.

The interest rate rise is ultimately decided by the Bank of England’s Monetary Policy Committee (MPC), which consists of nine members, including Governor Mark Carney. The MPC’s main aim is to set a Bank Rate that will enable their pre-determined inflation target (which currently sits at 2%) to be met. Each member of the MPC has extensive knowledge and experience in economics, which is often where the problem lies.

“Currently, the members are divided over when the right time to start the interest rate rise is, and it is for this reason that an exact timescale cannot be predicted,” said Oliver Adair from Mortgage Advice Bureau.

“Firstly, it should be noted that, whilst some are predicting a later increase in interest rates, there are still many that say the latest the rise will take place is in February 2016.”

With oil prices continuing to fall, China’s ‘Black Monday’ stock market crash, the US Federal Reserve’s decision to keep its own base rate at 0.25%, and inflation in the UK returning to negative figures, many believe that hiking the UK Bank Rate could hinder the ongoing recovery. The UK also recently experienced a surprise slump in manufacturing and its biggest drop in construction output since 2012, leading to a slowdown in economic growth that was greater than predicted.

“Add all of this to the fact that the latest figures from the Office for National Statistics (ONS) show inflation falling back to -0.1% after its brief respite at 0.1% (still way below the Bank’s target of 2%), and you can begin to see why a rise could be less likely to happen, in order to help encourage consumer spending, thus boosting inflation,” added Oliver.

The slowdown in growth means that the MPC and policymakers will need to assess where the economy is at, which could postpone any likelihood of a rate rise for a little while longer.

The next MPC committee meeting takes place this month, and whilst we are unlikely to be given any clarity on their thoughts as they continue to debate among themselves, for now, we can only theorise on prospective dates.

Oliver Adair is from Mortgage Advice Bureau – for further information call: 07928 519901. Email: olivera@mab.org.uk or visit www.dawsonsproperty.co.uk

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Tax changes to buy-to-let – how it will affect landlords

In the first all-Conservative budget since 1997, the Chancellor, George Osborne, announced the amount of tax relief that landlords will be able to claim on the interest of their mortgage payments will be reduced.

The changes mean property investors who currently claim top rates of tax relief of 40% and 45% will only be able to claim relief in the future at the basic rate of tax, currently 20%. Here David Treharne of Mortgage Advice Bureau discusses how this will affect landlords.

What is tax relief?

Tax relief is something that allows you to pay less tax so you can account for money you need to spend on things like expenses. It can also allow you to get tax repaid in other ways, such as straight into a personal pension.

As landlords, as your buy-to-let properties are classed as self-employed businesses, you are currently able to get tax relief and deduct some of your running costs from your taxable profit, so long as they are allowable expenses.

How will the tax rates change?

Under the new rules, landlords will not be able to deduct the cost of the interest on their mortgage from their rental income.

For example, currently, if your property earns £20,000 per year and the interest-only mortgage costs £13,000 per year, you will pay tax on the £7,000 profit. If you currently pay the higher 40% tax rate, this means you will pay £2,800 in tax per year.

Under the same circumstances in 2020, however, the full rental income of £20,000 will be taxable by 40%, if you fall under this tax bracket, meaning, after taking away the new basic-rate tax relief of 20% on your interest-only mortgage payment of £13,000 (20% of £13,000 = £2,600), you are left to pay £5,400 per year – an increase of 93%.

That sounds confusing. Will these changes be implemented over time to give landlords chance to adjust?

The withdrawal of the higher-rate reliefs will be phased in over a period of four years, in order to help landlords adjust to the lower relief level, and nothing will happen until April 2017.

It will then be implemented in four stages:

Stage one
From April 6th 2017, the higher-rate tax relief can still be claimed on the first 75% of your mortgage interest costs. The remaining 25% will have the basic rate of tax relief applied.

Stage two
From April 6th 2018, the amount of tax relief you can claim at the higher rates will drop to 50% of your mortgage interest costs. The remaining 50% will have the basic rate of tax relief applied.

Stage three
From April 6th 2018, the higher-rate tax relief can only be applied to 25% of your mortgage interest costs. The remaining 75% will be at the basic rate.

Stage four
From April 6th 2020, you will only be able to claim tax relief at the basic rate level.

If you have any furnished holiday lets, this restriction will not apply.

These changes will be published and are expected to be passed in the 2015 Summer Finance Bill.

How can you assess the impact these changes will have on you? 

There is still time for landlords to forward-plan so they do not have to suddenly increase rents. For any landlords currently investing in property, or considering expanding their portfolio, it is wise to speak to an independent mortgage adviser to discuss these changes. It is also worth talking to a property tax expert to see if there are any other tax breaks you could take advantage of.

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Leading South Wales estate agency earns national recognition

Dawsons is celebrating after winning a national estate agents award for outstanding customer service.

Their Mumbles office has been singled out from 1,500 estate agents to be named UK estate agent of the week by Rateragent.

The two staff members who were singled out for outstanding customer service were lettings negotiators Rhodri Francis-Hopkins and Sammantha James.

“This great recognition once again reaffirms the level of customer service and client satisfaction we strive to achieve,” said Ricky Purdy, Director of Lettings at Dawsons.

“Our customers have taken time out of their busy days to acknowledge the service, the branch they have dealt with and importantly the individual staff members.

“We really do appreciate this. Its great to see our consistency of service levels is meeting the high expectations of our clients.

“This UK agent of the week together with other recent accolades is very much what we aim to replicate during the remainder of this year and the start of 2016.”

Rateragent is Tripadvisor equivalent for estate agents for the UK. It is based on the quality of service and positive reviews received from both landlords and tenants.

“I am really please to have received the recognition, and that our landlords and tenants are taking time to post reviews. We have a great group at our office, and the awards are a result of our team effort,” said Sammantha.

Rhodri added: “It was a great surprise receiving the award. It really wasn’t expected, but it is something I am very proud of.”

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Chris Hope, Dawsons Senior Director

To buy or rent – the great debate that rumbles on

It is one of life’s great debates that often dominate our lives year on year: is it better to buy your own home or rent someone else’s?

The simple answer is: there is not right or wrong decision, but financial trends – a stable or unstable economy – will often dictate that decision.

Here Chris Hope, Senior Partner at Dawsons Estate Agents, weighs up the pros and cons of the buy or rent conundrum.

“People are always asking what is the best course of action when it comes to buying or renting,” said Chris.

“Of course personal circumstances will always dictate and every four or so years the buy/rent debate shifts one way or the other.

“To be perfectly honest at the moment it is probably a 50/50 scenario when looking at a decision to buy or rent.”

Just to put into context Chris gives an example of a three-bedroom terrace in the Morriston area of Swansea.

At around £100,000 to buy that would give you a £385 per month on a typical 25-year mortgage with a 10/15% deposit. That would compare to £500 rent per month.

“So looking at the averages there is not a great deal of difference when you take in consideration the buyer’s initial outlay with a deposit,” reflected Chris.

“Looking at it historically – 20 years ago those that rented were those who couldn’t afford to buy.

“But whereas there has been a social status element with owning your own home it’s nowadays become a lifestyle choice. Renting is now socially acceptable, and to put that into perspective in our Marina Office we only have one or two lettings properties at any one time. The demand is that great.

“Renting now gives young professionals flexibility. The fact the house needs painting or decorating is not longer and issue. You can just move!

“The culture has definitely changed – renting is a socially accepted way of living. Renting has given people freedom and gives you flexibility and latitude, especially when a career may take you around the country.”

But where rent gives you flexibility and no real ties buying is seen more and more as an investment. For instance fairly recent figures from Santander Bank indicated that ‘lifetime renters’ who never manage to climb on to the property ladder are likely to hand over around £300,000 to private landlords during their lives.

“But rental does look attractive especially when you look at people who have bought at the wrong time have been caught in a negative equity situation – that brings it’s stresses and strains,” added Chris.

“Despite that, compared to other countries such as USA and Germany we are still largely a nation of homeowners. Some people see an investment in a property is an extra pension at a time when pensions cannot be relied on to fulfil financial needs in retirement.

“There is still an advantage on buying a property because of the basic economics of what it costs to buy compared to cost of rent.

Having a mortgage-free environment is a comfort blanket.”

To put that into perspective a recent survey from HSBC talked of a growing divide between property ‘haves’ and ‘have-nots’.

Analysing that the generation of owners who bought in the early 1980s tended to become mortgage-free at 56. Recent buyers – average age 29 – are expected to be mortgage-free at 60, whereas young people who say they do not expect to be able to buy until age 35 are likely to be approaching 68 before they own a home outright.

In conclusion Chris says: “There is no right and wrong to be honest – but it changes its balance determined by financial stability.”

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Estate agent hosts coffee morning to raise money for cancer charity

Generous staff at Dawsons Estate Agents raised £300 for Macmillan Cancer Support from a special coffee morning and cake sale.

The event at their branch in Walter Road was inundated with visitors from surrounding offices and members of the public.

“We organised it because I don’t think there is one member of staff here who has not been affected by cancer in some way or another,” said Branch Manager Nicola Fulford.

“All the cakes, cup cakes and sponges were donated by staff and friends. So it’s a big thank you to them that they made the morning possible.”

Added Nicola: “We were delighted by the generosity of everyone including those passers by who just came in off the street. Even our window cleaner came in for a coffee and a cake!”

Dawsons Senior Partner Chris Hope: “A big thank you should go out to Nicola and her staff for organising such a successful event and for such a great cause.”

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Expanding South Wales Estate Agents make key Sales Director appointment

Leading Estate Agents Dawsons has made a significant appointment by announcing Joanne Summerfield-Talbot as Director of Residential Sales.

It is a challenging new role that Dawsons has created due to the need to provide ‘excellent customer service’ in conjunction with improving sales success and the overall expansion of the company.

“Joanne will be responsible to research and communicate with other estate agents across the country, looking to utilize new ideas to improve the overall ‘buying/selling experience’ of the Swansea estate agency market within Dawsons,” said Dawsons Senior Partner Chris Hope.

“We already have a Director of Residential Lettings in Ricky Purdy and we felt we needed to counter balance that with a Director of Residential Sales and Joanne fits everything we were looking for in someone with expertise in both sales and management. She is a perfect blend to direct the sales department.

Joanne, 49, began her career in estate agency in 1983, working her way through the ranks to senior manager at a well-known independent agency heading up their Swansea Sales operation.

She joined Dawsons 12 years ago, initially in their Auction Department before becoming manager at the firm’s Gorseinon Branch in 2007, enjoying great success year on year.

“Due to the continued success and expansion of the company the role of ‘Director of Residential Sales’ has been created and I am so thrilled to be given the opportunity by the Partners,” said Joanne.

“Of course there will be challenging times ahead as in all industries.  However, I feel I am more than ready and capable to meet the demands.

“I have a particular interest in training and the development of staff and systems so as to collectively ensure what organisation changes/business policies and legal compliance are necessary, in our ever changing industry.  So as to maintain our number one position as Swansea’s leading estate agent competing in future property markets. “

Joanne’s daily activities will include being the day-today point of contact for Dawsons’ eight sales branches, as well as recruitment, training and continuous development of all sales staff, reviewing and implementing new business policies and ultimately driving Dawsons forward to maintain Dawsons as Swansea’s leading agent.

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From run-down house, to dream family home – one family tells their home story of a self-build project

We were so glad to hear from one of our families who bought a property from us and transformed it into their dream home. They saw potential in a small run-down house in the village of Pwll and began to convert it into their ideal home that ticked all of their boxes. Now they reflect on their journey through the whole process.

Elgin Road in Pwll, an area that wouldn’t first come to mind when searching for a dream home, is where our vendor found their “forever home” after exhausting the property market to no avail.

After what our vendor would describe as a moment of madness by her husband, the pair found themselves in a little village called Pwll facing an “old tiny run-down house.” Our vendor’s reaction was “why on earth would he bring me here?”, but her husband asked her to look beyond the house and there it was, a breathtaking view that sealed the purchase of this tiny run down house within just five minutes of being there!

This was the moment in which they decided this was the location for their dream home, and that they were going to build that dream home to match and to enjoy with family and friends.

The benefit of building your own home, according to our vendor, is that you can make your criteria ‘tick sheet’ a reality. Our vendor’s tick sheet was quite lengthy and included many factors that had prompted their plans to move, factors such as needing space for their three young teenagers to hang out with friends, whilst also wanting to be close to their ageing parents.

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Elgin Road is a home that offers something for all members of the family; it boasts generous room sizes and a self-contained living accommodation that’s ideal for a teenager or relative to live in. This is all without mentioning one of the main focuses of the build, the property’s outstanding views. The lounge and bedrooms have their own balconies where the family can sit out and admire the same view that convinced them to buy what they will always know as “the tiny run-down house”.

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The family are now able to enjoy a once unthought-of location that has links to the millennium costal path, beach walks for the dogs, and strolls to the local pub for a quiet evening meal and drink, all within just a five minute walk.

Has this family’s venture got you thinking about your next property?