Current Statistics ►

From 1st April, all new rental leases and renewals of tenancies will be required to have an energy performance rating of at least E on an Energy Performance Certificate (EPC). For existing tenancies, the regulations come into force on 1st April 2020.

We wondered how much tenants are prepared to pay for energy efficiency. Properties across England and Wales let in 2017 with an energy performance rating of E achieved 3.1% more per square foot than properties let with an F or G rating. On an 800 square foot property, this equates to an average of £360 per year.

The majority of landlords are well prepared, but we calculate that around 7% of properties let in 2017 still need to be brought up to the standard required. Best prepared are London landlords where just 4.9% of properties let last year were lower than an E rating, while in the South West more than 10% of properties did not meet the standard.

At the top of the scale, properties with an A or B rating achieved, on average, 31% more per square foot than F and G rated properties in 2017. On an 800 square foot property, this equates to an average premium of £3,600 per year.

January 2018

December 2017

 

 

We would like to take this opportunity to thank you

for your continued support which has made 2017

such a successful year

and we look forward to working with you

in 2018 and beyond. 

 

 

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This year we have been supporting Christmas Jumper Day in aid of Save the Children UK. Every one has been getting into the swing of things with some festive cheer at both our offices in Falmouth and Penryn, raising a total of £64.70. Not bad for a small team - Well done everyone!

September 2017

After months of hard work, our new website finally went live over the weekend and is looking fantastic! Why not have a good look around and see what amazing new features and information are included. 

www.heather-lay.co.uk


Natalie took part in the Cancer Research Race for Life Pretty Muddy on Sunday 3rd September. It was "pretty muddy" due to the Cornish Autumn weather, but a brilliant time was had by all and Natalie raised a fantastic total of £183.00 for Cancer Research!

August 2017

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Our new banner has arrived today ready for tonight, and it looks great!! We are proudly sponsoring the Pink Wig event which is part of Falmouth Week and raises funds for vital research projects, the best care for breast cancer patients in Cornwall and a safer future for the next generation.​

Offset mortgages

Offset mortgages

Selling GPEA News 11th September 2015

At a time when borrowers are enjoying record low interest rates, but savers are struggling to make their money work for them, offset mortgages can really come into their own. This type of scheme allows homeowners to link their savings or current account balances to their mortgage and only pay interest on the difference between the two.

In simple terms, instead of earning interest on their savings, the borrower pays less interest on their mortgage. That means that the effective rate of return on the savings is at the mortgage rate but because no interest is earned, there is no tax to pay.  As a result offset can be especially effective for higher rate tax payers.

Lenders may then offer 2 options – borrowers can either keep their mortgage payment the same in order to reduce the overall term of the mortgage, or reduce the monthly payments. Importantly, mortgage-holders retain access to their savings at all times, and can add to or withdraw from their accounts as needed. The interest charge will simply be adjusted accordingly.

After deciding to capital raise on their residential mortgage in order to fund a Buy-to-Let purchase, our clients approached the mortgage service for the Guild of Professional Estate Agents looking for advice.

With a significant level of savings, representing around 20% of their new mortgage, they were keen to secure an offset product. Their adviser carried out calculations and found that by offsetting their savings and current account balances, the clients should be able to pay off their mortgage almost 2 years earlier, saving thousands in interest.

Their adviser was able to secure them a 5 year fixed rate deal at less than 3%, and using their savings alongside the mortgage would mean paying less interest over the 5 years than if they had chosen a traditional scheme with a lower rate.

Residential Sales
01326 319 767

3 Church Street, Falmouth
Cornwall, TR11 3DN

Property Letting & Management
01326 374850

Swingbridge House, Anchor Quay,
Penryn, Cornwall TR10 8GU

Land & New Homes
01326 374850

Swingbridge House, Anchor Quay,
Penryn, Cornwall, TR10 8GU

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