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. 

 

 

christmas-1869342_1920

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

h_l_banner

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 come into their own

Offset mortgages come into their own

Property The Guild of Professional Estate Agents 7th September 2016

The recent cut in the Bank of England base rate may have come as welcome news for many mortgage holders, but for savers it has been yet another hit on their returns.

There is light at the end of the tunnel however. At times when homeowners are struggling to make their savings work for them, offset mortgages offer an excellent alternative, and can also be big money-savers.

This type of mortgage works by allowing homeowners to ‘offset’ the balances held in their savings and current accounts against the mortgage debt, thereby reducing the amount of interest payable on the mortgage. Put simply, instead of earning interest on their savings, a borrower pays less interest on the mortgage.

There are a number of other attractive benefits to offsetting. Because no interest is earned on the savings, there is also no tax to pay, so this can be particularly useful for higher rate taxpayers.


   
        Like this post? Read more on this topic here.

There is also a greater degree of flexibility than can be found with many traditional mortgages. Most deals provide an overpayment facility, but this is often restricted to 10% of the mortgage balance per year. Offset mortgages generally provide an unlimited overpayment facility and, perhaps more importantly, borrowers retain easy access to their savings at all times. 

This type of mortgage can be especially effective for homeowners with variable sources of income. The self-employed, for example, might use their offset account to put money aside over the course of the year to pay their tax bill, so having that easy access is essential.

Lenders generally offer two options depending on how the borrower wants their mortgage to work. They can choose to reduce their monthly payments as a result of the reduced interest charge, if cutting costs is a priority.

Many opt to keep their payments as they are however, in order to reduce the overall term of the mortgage. This means making savings on the overall amount of interest paid and clearing the debt much quicker.

The interest rates available for offset mortgages are higher than for traditional mortgages, so borrowers will need to do their sums before deciding if this is a worthwhile option for them. However, with interest rates currently at record-lows, and savings accounts offering little in the way of returns, now may be the time for borrowers to consider using their money in a different way, and ultimately for their own benefit.





If you are considering an offset mortgage or simply need mortgage advice, then please speak to the Guild Mortgage Service provided by fee free L&C Mortgages.

You can contact L&C mortgages on: 0800 073 1945



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

2017 © Heather & Lay. All rights reserved.
Terms and Conditions | Privacy Policy | Cookie Policy | Complaints Procedure | Data Protection

   

 


 

Value My Property