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.​

Interest Only Borrowers need to plan

Interest Only Borrowers need to plan

Selling GPEA 5th October 2015

Interest Only Borrowers need to plan

Citizens Advice has warned that there could be almost a million mortgage borrowers with an interest only mortgage but no plan as to how they will repay the mortgage.

Interest only mortgages do exactly as the name suggests with the monthly payments only covering the interest charge.  As a result the capital balance is not reduced and the borrower will need to repay the whole of the mortgage amount at the end of the term.

Traditionally, the borrower would have made regular contributions into an alternative repayment vehicle to run alongside the mortgage.

These are typically investment backed vehicles such as endowments or stocks and shares ISAs.  The hope is that the vehicle will grow sufficiently over time so as to reach the target amount required to pay off the mortgage.

However, some have taken no repayment vehicle at all, relying instead on the sale of the property to cover the balance.  The fear is that they could reach the end of the term with no means to pay off the mortgage, which could result in them having to sell the property to pay off the mortgage.

Anyone in that situation would do well to try and put a plan in place sooner rather than later, as the longer they leave it the harder it can become.  Switching the mortgage to repayment will mean that monthly payments increase but shopping around for a keener rate can help minimise the impact as much as possible.

If that looks too much to take on, putting funds aside or overpaying the mortgage as and when it’s possible will at least start the process of reducing the mortgage.  Just be careful to check that any overpayments will be within allowed limits so that no early repayment charges are incurred.

Even those with a repayment vehicle in place should regularly review their plans, in order to ensure that they remain on track to meet their target.  If there is any potential shortfall then, again, it makes sense to try and deal with that sooner rather than later.

 

Guild Mortgage Service, Provided by London & Country Mortgages

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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

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01326 374850

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

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