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.​

Mortgages for the self-employed

Mortgages for the self-employed

Selling GPEA 3rd February 2016

Mortgages for the self-employed


Within the mortgage market, lending criteria has tightened enormously over recent years, focusing heavily on ensuring borrowers can prove affordability, both now and in the event of a rate rise. All applicants are subject to the same affordability checks and are required to provide evidence of their income for underwriting purposes, but for the self employed this can sometimes prove difficult.

While an employed applicant can confirm their income using payslips and P60s, the self-employed will often need to provide 2 to 3 years worth of full accounts or self assessment returns (SA302s) from HMRC. This can be particularly tricky however for someone who has changed to a self-employed status more recently. 

One such couple approached the mortgage service for the Guild of Professional Estate Agents, looking for advice on purchasing a new property. Both were sole traders, but applicant 2 had only made the transition from employed to self-employed when the couple relocated in 2013. After carrying out a range of non-contracted work from ad-hoc clients, she began a rolling contract with a consultancy in 2014, and as a result could only provide 1 year’s worth of accounts. 

Despite their limited proof of income, the couple’s mortgage adviser was able to place the applicants with a smaller, more specialised lender, who would consider a minimum of 12 months trading history.

They decided on a fixed rate deal, allowing them to secure their mortgage payment for the first 2 years, while also giving them time to build up their accounts further and have access to a wider range of lenders when their deal comes to an end. 

Although there is often an assumption that securing a mortgage if you are self-employed is almost impossible, there are options available. As can be seen here, getting advice from a mortgage broker can be invaluable when it comes to finding a lender with the most suitable approach to underwriting. 


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

The FCA does not regulate most Buy to let mortgages.


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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