News
22nd February 2012
“Now Is A Great Time To Move” says Maitlands Sales & Lettings
Local Guild estate agent Maitlands is advising that the next few weeks could be an ideal time to buy a property, particularly for first time buyers who do not want to be affected by the removal of the stamp duty relief next month on 26th March. For those in the fortunate position to be able to move quickly, Maitlands offer some expert tips to consider.
Lloyds TSB reported last week that it now costs on average a whopping £9,000 to purchase a property. This is up some 14% on 2010, mainly due to rises in various fees and this will increase further for many people, especially first-time buyers, when the temporary Stamp Duty Relief is removed shortly.
An increased number of first time buyers have already taken advantage and beaten the stamp duty holiday with house sales edging up slightly during January, as reported in the latest RICS UK Housing Market survey. There is also evidence via Land Registry that prices of properties under £150k have recently been outperforming the overall market.
The removal of the Stamp Duty relief will mean that for properties costing between £125k and £250k, any purchaser will pay on average £1,800 more than they are currently (for a typical UK house valued at £161,000, the additional premium will be £1,600). The buyer should be aware that Stamp Duty is liable for the whole amount at the highest relevant fee, and is not applied in tranches.
Andy Blacklock Managing Director of Maitlands comments that “whilst these costs are largely unavoidable, it is important that buyers explore these areas carefully to make sure they get the best value for their money.”
1.) Agency fees
You should read any agreements very carefully before signing; for example, some estate agency contracts state a relatively low percentage fee, but may also include a minimum cash sum that means you pay a higher amount than imagined. Or you may be liable to a fee to take your house off the market.
2.) Conveyancing
Conveyancing costs vary widely, and it pays to seek out a professional solicitor who can offer great value and service. Your estate agent can usually recommend one to you, but you should consider sourcing at least one other quote to ensure that this is competitive. The same applies for other necessary costs such as surveyors and removals.
3.) Beware of the cheapest supplier!
There is much that can go wrong in a property transaction, and saving a few pounds could actually prove very expensive. Ask yourself how one company could be so much cheaper than the competition without having to make any unwelcome compromises.
4.) Stamp Duty
If you can move before the end of March, you could save up to £2,000.
Your local Guild estate agent, Maitlands is ideally placed to offer valuable advice and guidance on these areas – after all, there is no-one more motivated to help you move successfully!
8th February 2012
One Life… Live it… Cycle it. Join the Great British Property Cycle
The UK property industry is being galvanised into action to embrace the spirit of the London 2012 Olympics and join an inspirational industry-wide initiative to raise £100,000 for charity.
Leading figures in the industry have come together to launch a month-long round-Britain cycle event to take place over the Olympic period next summer. The Great British Property Cycle will create the property industry’s own Olympic legacy by raising huge sums for the Estate Agency Foundation to help eliminate the causes of homelessness.
The intention is to maximise participation across the property industry, from estate and letting agents to lenders and surveyors, from new home builders to industry suppliers.
“This is going to be massive,” says Andy Blacklock from Maitlands an ambassador of The Estate Agency Foundation. “By getting involved at any level, you will be joining an event which will make a real difference to homelessness in Britain, while at the same time reinforcing positive public perceptions of our industry.”
Participants don’t need to tackle the whole circuit – although some brave souls have already signed up for this. Individuals and businesses can arrange whatever suits them, from joining one of the stages to organising a small local event, or simply picking a day and cycling to work for charity.
“Sign up now and join us in creating a lasting Olympic legacy. It’s a wonderful opportunity for all of us to come together, have fun, celebrate the Olympics and, in the process, do something to help improve people’s lives,” Andy added.
The Estate Agency Foundation helps eliminate the causes of homelessness through supporting projects run by charities including Help for Heroes, Crisis, Shelter and Barnado’s, as well as smaller local homeless charities.
“The money raised by this inspiring initiative will help the EAF to make significant inroads towards our aim of eliminating the causes of homelessness,” said EAF Chairman Bill McClintock. “When you consider that just £75 helps to provide a fresh start for an ex-service man or woman, or £100 pays for a month’s treatment for a child traumatised by abuse, you can start to see just how much our charity can achieve with £100,000.”
So let your imagination run wild, bring out your Penny Farthings, tandems, cycle taxis, rickshaws and tuk tuks to get this exciting initiative on the road. Join the event in whatever way you can because by coming together, the property industry will make a huge difference. Look at www.gbpropertycycle.co.uk for more information.
Maitlands are stage sponsors of the race from Plymouth to Helston which will take place on Sunday 29th July 2012. For further details or to support us in any way please contact Andy Blacklock direct on 01752 895379.
One life… Live it… Cycle it
25th January 2012
Want a Career in Estate Agency with a Market Leader?
This could be the start of something exciting for you! Our market leading Ivybridge office is looking for an enthusiastic and motivated Apprentice who would like the opportunity to join the Maitlands family and progress within our award winning agency.
If you are ready to study for an NVQ in Customer Service, work hard for our clients from Thursday - Monday and have a full driving license; we are ready to reward you with the chance to learn from the team that sells more property in Ivybridge than any other agent*.
If you are ready for this challenge why not contact our office or pop your CV in and meet the team. 2012 could be the start of a very successful career!!
*Disclaimer: According to data provided by Vizzi Homes
10th January 2012
Time to Switch
If you've entered 2012 struggling to sell your home we understand your frustration. At a time when you are planning ahead on all fronts the sale of your home will weigh heavily on your mind and could affect the outcome of all your best laid plans.
So if your agent isn't attracting enough interest in your property, why not switch to us? Our offices lead the way in each of their locations. Simply put, we sell more houses in our office locations than any other agent.* If you take a look around this page you'll see just a few of the reasons why we consistently get outstanding results for our clients in a tough marketplace. If you want to find out more why not visit www.allagents.co.uk - the 'Trip Advisor' of the property world. You'll see that we are ranked in the Top 10 of all agents nationally based on feedback from our clients. Here's just one:
"Who said the property market was dead? 4 days on the market and we had an offer on our house. Very friendly, efficient and drummed up lots of interest in our property. You would be mad to consider another agent." Claire & Andy (who sold through our Saltash office)
If you want a better chance of realising your plans this year give us a call. If you list your property for sale with us by 31 January we will match the fee you've agreed with your current agent.**
Market leading service at a rate you are comfortable with. You've got nothing to lose.
* According to data supplied by Vizzi Homes
** Subject to written confirmation of your current agreement. Does not apply to internet only agents.
6th December 2011
Reindeers Running for St Luke’s
On Sunday the 27th November nine pro athletes from Maitlands Sales & Lettings took part in the first 5km Reindeer Run for St Luke’s Hospice.
The run took place in Central Park in Plymouth on a cold but sunny morning. Over 250 adults, children and 1 Maitlands board took part.
Maitlands was well represented with Reindeer taking part from all offices. The team was organised by Kirsty “Rudolf” Dinham and from Saltash office: David “Prancer” Price, Clare “Dancer” Biddlecombe and Natalie “Vixen” Eller. From Ivybridge office: Sharon “Comet” Pollard, Robyn “Dasher” Ball, Dave “Cupid” Turnbull, Little Toby “Blitzen” Turnbull and from Plympton: Tania “Dasher” Pitskais.
Everyone made it round and especially well done to Clare “Dancer” Biddlecombe who carried a Maitlands Sold Board round the entire 5km run and was selflessly helped by “Comet” when crossing the finishing line, never shy of a photo opportunity!
There were some tired hooves but it was a great event and for an extremely worthwhile cause. So far Maitlands have raised £360 and would very much appreciate further donations, which can be made at www.justgiving.com/Maitlands-EstateAgents
5th December 2011
Maitlands Digs Deep for Daybreak’s Donate a Coat
Award-winning, local independent estate agent Maitlands continues its drive to support its local communities by taking part in ITV Daybreak’s Donate a Coat with The Salvation Army charity drive.
The campaign focuses on the donation of unused / unwanted coats to provide low income people and families with access to warm adequate winter clothing, that they may otherwise struggle to afford.
The Maitlands team worked very hard and generously whilst vigorously sorting through their closets to achieve an impressive total of 30 coats, which will now be donated through The Salvation Army.
Managing Director Andrew Blacklock commented: “As an independent agency, we are always extremely supportive of initiatives that benefit our local communities. It is really pleasing that the Daybreak / Salvation Army have recognised local needs and I am delighted that the team here at Maitlands is making a contribution at this time of the year.”
Donations are still being accepted up until the 2 December at 340 ASDA Stores throughout the country. Just look out for The Salvation Army clothing banks.
Weeks to Christmas Remain a Proactive Time to Buy or Sell
- Says Home Sale Network
2nd December 2011
A November 2011 Home Sale Network survey amongst its members has found that buyers and sellers continue to enter the property market. Indeed, 95% stated that buyers and sellers active in the UK property market at this time of year are ‘serious about moving home’ and therefore it remains a proactive time to buy or sell.
Despite the traditionally quiet time of year in the weeks leading up to Christmas, the vast majority* of survey respondents recommend that sellers list their property as soon as possible with a further 78% expecting to continue to see activity in the market over the next few weeks. Indeed, with the Stamp Duty Land Tax holiday set to end in March 2012, many more buyers will be entering the market to take advantage of the Government tax break.
A specially selected, national network of independent estate agents across England, Scotland and Wales, Home Sale Network is able to provide a good indication of the current trends in the UK property market.
Andy Blacklock from Maitlands Sales and Lettings, the member of Home Sale Network in the South West said, “With 95% of our member agents indicating that now remains a proactive time to buy or sell, we encourage anyone thinking of entering the property market to contact us today. Indeed, if you’re a first time buyer, you only have until March next year to take advantage of the Stamp Duty holiday!
“We’re seeing a lot of activity in the Ivybridge, Plympton, Plymouth and Saltash areas and as the Local Experts we can help sell your property and find you the right home.
For further information, please speak to Zoe Duke of Maitlands Sales & Lettings Tel: 01752 897907 Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
* 93% of Home Sale Network respondents recommend that sellers list their property as soon as possible.
30th November 2011
LIST YOUR PROPERTY WITH US TODAY AND WIN AN iPAD 2!
Any property listed through us which comes onto the market (until Friday 16 December) has a chance to win a brand new iPad 2! Each listing will be automatically entered into a prize draw. To list your property, call your local Maitlands estate agent today.
Terms and Conditions apply. All listing contracts must be signed, and the competition ends on midnight Friday 16 December 2011.
24th November 2011
MAITLANDS SALES & LETTINGS RECEIVES HIGHLY COMMENDED ACCOLADE IN THE 2011 BEST AGENT SOUTH WEST REGIONAL AWARD
Independent estate agent, Maitlands Sales & Lettings are delighted to announce that they were highly commended in the Home Sale Network’s prestigious 2011 Best Agent South West Regional Award at the Network’s 18th Annual Conference, held at the Park Plaza Riverbank Hotel, London on Friday 18 November.
The annual prize is awarded on a number of criteria measuring the agent’s overall contribution to Home Sale Network, their ability to demonstrate customer satisfaction, a strong market share locally and a proven record of helping relocating buyers move both in and out of the area.
The awards were announced at the Conference’s glamorous black tie Awards Dinner. The evening was hosted by Alexander Armstrong, one half of comedy duo Armstrong and Miller and regular host on BBC panel show, Have I Got News For You, who announced Maitlands highly commended accolade.
Andy Blacklock comments, “For Maitlands to have been firstly nominated as the best agent in the South West region by the Home Sale Network is recognition of the hard work and combined effort of all our members of staff. However, to have also received a highly commended prize is absolutely fantastic.”
Richard Tucker, Home Sale Network’s Managing Director said, “Home Sale Network is a national network of independent estate agents acrossEngland, Scotland and Wales. As members of the Network, our agents promote their individual brand, but they are also encouraged to promote the Network as a whole. The 2011 Best Agent South West RegionalAward is significant because it recognises agents that have most successfully demonstrated their outstanding independent businessinitiatives and their commitment to the Home Sale Network principles.”
For further information, please speak to Zoe Duke of Maitlands Sales & Lettings Tel: 01752 897907 Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
17th November 2011
Over 7,500 Mortgage Deals now available
Following last month’s decision by the Monetary Policy Committee to re-introduce their programme of Quantitative Easing (QE), the expectation is that we are unlikely to see further intervention until the effects of this can be assessed.
As a consequence the base rate has remained unchanged and the level of new money injected into the economy through the purchase of assets including government bonds remains at £275bn.
The Eurozone crisis continues without a real resolution on the horizon and appears to be deteriorating, with Italy now the main sovereign debt concern of the markets although the proposed Greece bailout has yet to be ratified.
In spite of all of the international bad news and continued weakness in consumer confidence in the UK, the mortgage market has remained remarkably resilient. Although overall new mortgage activity in October was down by around 10% compared to September, remortgage borrower numbers have increased by almost 9%.
Mortgage product pricing remains at all time low levels in October, with Moneyfacts reporting the average 2 year fixed rate as 4.22% and the average 5 year fixed rate has reduced further to 4.73%. This appears to have encouraged increasing numbers of remortgage borrowers to take advantage of current pricing.
October witnessed overall mortgage product numbers increasing, having reduced a little in September they returned to levels similar to August, Brokers currently have access to around 7,500 deals, over 50% more products than in the same period last year.
For further information on how the latest base rate decision affects you, please call 01752 204000, Email This e-mail address is being protected from spambots. You need JavaScript enabled to view it or visit us at or visit us at 96D Ridgeway, Plymouth, PL7 2AG.
Your home may be repossessed if you do not keep up repayments on your mortgage.
A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £95.
7 November 2011
Maitlands Nominated for Another Award
Local independent estate agent Maitlands is pleased to announce that the company has been nominated for another prestigious award – this time by Home Sale Network, a national network of independent estate agents, for their 2011 South West Regional Award.
The winner will be announced at the Awards Dinner on the 18th Annual Home Sale Network Conference, being held at the Park Plaza Riverbank Hotel, London on Friday 18 November.
Home Sale Network’s 2011 South West Regional Award is an annual prize for the agent that has consistently made the best overall contribution to the Network throughout the year and offers nominees the chance to become the Network’s ‘Best Network Agent in the South West.’
Andrew Blacklock, Managing Director at Maitlands said, “For us to be nominated for the 2011 South West Regional Award is further recognition of the hard work and combined effort, commitment and enthusiasm of our entire team.”
Richard Tucker, Home Sale Network’s Managing Director commented, “Home Sale Network is a national network of independent estate agents, made up of 12 regions across England, Scotland and Wales. All members are encouraged to work together to promote the Network as a whole as well as their individual brands.
“The 2011 award recognises the agent that has been most successful at demonstrating outstanding independent business initiatives and embracing the Network principles.”
Maitlands has had an impressive last 12 months in terms of external recognition with the company picking up “Best Small South West Agency” at The Sunday Times Estate Agency Awards, “Best in the South West” at the Guild of Professional Agents awards and hitting the number one ranked agent in the UK spot bywww.allagents.co.uk in June.
4 November 1011
The UK Housing Market: Boys Vs. Girls
If men are from Mars and women are from Venus, how do they ever buy property together without falling out? Well according to a recent survey conducted by Home Sale Network amongst its Network members– quite amicably actually!
Survey results found that the UK property market is a shining example of gender equality with men and women sharing an equal knowledge of current housing market conditions. As a national network of specially selected, independent estate agents, of which Maitlands Sales and Lettings is a member, Home Sale Network agents are ideally positioned to give insight into how men and women typically approach the buying and selling process.
Over half * of Network members who took part in the survey indicated that men and women both show a similar level of awareness when it came to knowing current property prices and market availability. In fact, nearly a third** of members also reported that men and women were equally willing to sacrifice property preferences given the current economic conditions.
So if you’re thinking of buying or selling with your other half this winter, it should be a (relatively) harmonious experience!
For help and advice on your move contact any of our offices, Ivybridge 01752 895379, Saltash 01752 845396, Plympton 01752 344322, Plymouth 01752 283576 or Lettings on 01752 330748, as a handpicked member of Home Sale Network, we’re your Local Expert for buying and selling.
*) 52% of respondents indicated that males and females have an equal knowledge of property prices and availability in the current property market.
**) 31% of respondents indicated that males and females were equally willing to sacrifice their property preferences because of the challenging economic climate.
22 September 2011
MORTGAGE LENDERS IN THE UK CONTINUE TO SUPPORT THE MARKET WITH EXCELLENT VALUE PRODUCTS
Matthew Johns from Mortgage Advise Bureau (South West) Ltd comments on the latest Bank of England base rate decision.
Another month has passed with no change to the Bank of England base rate following the monthly Monetary Policy Committee meeting earlier in September. Recent debate has been focused upon whether the MPC would vote to recommence the process known as quantitative easing, in essence the printing of money, to stimulate the economy due to persistent growth weakness.
Once again the vote was for no increase in the process known as the “asset purchase programme”, but with the economy having been confirmed to have grown by only 0.2% in the second quarter of this year, we may be approaching the point where the policy setters are required to apply further medicine to what appears to be a patient still very much in intensive care.
Mortgage lenders in the UK continue to support the market with excellent value products. Although we saw borrower numbers in August reduce by approximately 3% compared to July, this can largely be attributed to seasonal factors. In the same period in 2010, we witnessed a significant rise in activity in both the purchase and remortgage sector as people continue to take advantage of the excellent value of rates offer relative to historic levels.
Average mortgage rates for two year fixed rate deals were 4.27% in August, but five year fixed rates have fallen below that psychologically important 5% level with Moneyfacts reporting that average five year deals now stand at 4.93%.
The number of mortgage products has decreased to the 6,500 level, but is still significantly ahead of the corresponding period in 2010 when intermediaries would typically have only had access to approximately 4,600 deals. This provides further evidence that the market (although nowhere near back to what we would have called “normal”) is in a much healthier position now than twelve or twenty four months ago.
Matthew Johns is from Mortgage Advice Bureau (South West) Ltd. For further information on how the latest base rate decision affects you, please call 01752 204000, email This e-mail address is being protected from spambots. You need JavaScript enabled to view it or visit us at 96D Ridgeway, Plymouth, PL7 2AG.
Your home may be repossessed if you do not keep up repayments on your mortgage.
A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £95.
25 August 2011
MAITLANDS STAY ON TOP IN 2011
Maitlands has continued 2011 in the same award-winning fashion it finished off 2010.
The market-leading independent agent came into 2011 with a Sunday Times Award for “Best Small South West Agent” and has continued to innovate to ensure their clients get a comprehensive range of solutions to help sell their properties in today’s tough market.
That expansion in tactics has seen the introduction of bespoke ‘open days’ for properties, heavily marketed through Maitlands’ strong social media platforms, which have proved to be an overwhelming success.
The range of services on offer have also expanded with the introduction of an ‘Accelerated Marketing Programme’ where agents interview the vendor to explore their motivations and aspirations, including capturing any unique characteristics of the property and following this, a highly innovative marketing programme can be brought into play. In another innovation, the company has introduced a new online auction service with 0% commission – further evidence that a ‘one size fits all’ approach to the needs of vendors is a thing of the past.
With their new Mortgage Advice Bureau further enhancing the range of services on offer and the early introduction of an iPhone/iPad app working alongside clever use of social media -Maitlands continue to invest.
That investment equally applies to staff development after the company was awarded a licence from the National Association of Estate Agents (NAEA). As a licensed estate agency, consumers are guaranteed that at least one agent within that branch is qualified in residential property sales, either through a formal qualification or through length of membership of the NAEA. This qualification requirement is unique to NAEA licensed estate agents – the only licence of its kind in the UK property industry.
Put together, the Maitlands approach has been noticed by both clients and industry experts alike. In June the company hit the number one ranking on a national website dubbed “the Trip Advisor of the estate agency.” The company took the number spot on 28 June 2011 based on positive customer feedback on www.allagents.co.uk – which lists reviews on hundreds of estate agents from all over the country and ranks them according ratings provided customers.
The following month, Maitlands added another accolade – this time ‘The Best Agency in the South West’ award at The Guild of Professional Estate Agents annual ceremony in London.
Summarising the company’s progress this year, Maitlands Managing Director Andrew Blacklock said: “In a tough market you simply can’t stand still. We will continue to innovate in difficult market conditions that frankly will be here for quite a while. This approach is understood throughout the whole of Maitlands and a major reason why we continue to lead the markets in which we operate.”
11 August 2011
MAITLANDS PROMOTES FURTHER TALENT
Award-winning independent estate agents Maitlands have underlined their commitment to high quality training and development by making two internal promotions.
Administrators Robyn Ball, who has worked in the Maitlands Ivybridge office for a year and Plympton office based Charlie Ford, who has been with the agency for 18 months, have both been promoted to Trainee Property Consultants.
In their new roles, both Robyn and Charlie will embark upon detailed internal training at their market leading offices together with working towards the external recognition passing the National Association of Estate Agency Exams – a requirement for all Maitlands Property Consultants.
Commenting on Robyn and Charlie’s success, Andrew Blacklock, Maitlands Managing Director said: “It is a sign of both Robyn and Charlie’s determination that they have received these well deserved promotions so quickly. That characteristic will continue to serve them well in today’s tough market. Their promotions will bring further continuity and local knowledge from which our clients will benefit.”
The new promotions quickly follow national recognition for Maitlands’ approach after the agency picked up ‘The Best in the South West’ award last month at The Guild of Professional Estate Agents annual awards in London.
2 August 2011
ESTATE AGENT OF THE YEAR 2011
Photo caption (L–R): Andrew Blacklock, Managing Director of Maitlands Estate Agent, Marcus Whewell, CEO Guild of Professional Estate Agents at the Awards Dinner
Multi-award winning Estate Agent Maitlands can now add another accolade to their impressive awards catalogue by scooping ‘The Best in the South West’ award at the recent awards ceremony for The Guild of Professional Estate Agents.
The ceremony was held on Wednesday 6 July at The Millennium Hotel in Mayfair, London and saw guild members from across the UK attend both the awards and national conference. Of the awards ceremony Marcus Whewell, CEO of The Guild of Professional Estate Agents, said “I am delighted to be celebrating the outstanding achievements of our member agents who are great ambassadors for the industry. The exceptional quality of the award entries this year is most encouraging and rewarding as it indicates that the best agents are constantly innovating to give the highest levels of marketing and service to their clients.”
Andrew Blacklock, Managing Director of Maitlands, commented “We are absolutely delighted to have been awarded ‘The Best Estate Agent in the South West’ award by The Guild of Professional Estate Agents. Our teams work very hard to ensure we provide the absolute highest level of service and commitment to our clients, and this award proves our dedication is being recognised. In a tough market you really do need the very best agent working on your behalf.”
29 June 2011
MAITLANDS RANKED NO 1 IN UK
Award-winning independent estate agents Maitlands is celebrating after hitting the number one ranking on a national website dubbed “the Trip Advisor of the estate agency.”
The company took the number spot on 28 June 2011 based on positive customer feedback on www.allagents.co.uk – which lists reviews on hundreds of estate agents from all over the country and ranks them according ratings provided customers.
Maitlands Managing Director Andrew Blacklock commented: “We are delighted to be ranked number one in the UK based on customer feedback. We embraced the merits of allagents right from its inception because it provides complete transparency in an industry that is often criticised for lacking in it. Customer service absolutely central to everything we do here so I am very proud that the hard work of the entire Maitlands team is being judged favourably and independently on the web.”
In total Maitlands has received 98 reviews to date on the site which has attracted over 9500 reviews to date.
The news is further recognition of Maitlands’ work after being voted ‘Best Small Agency’ in the South West Region at the latest Estate Agency of The Year Awards in association with The Sunday Times and The Times.
16 June2011
MORTGAGE PRODUCTS CONTINUE TO IMPROVE TO OVER 7,000 PRODUCTS
Andy Blacklock from Mortgage Advice Bureau comments on the latest Bank of England base rate decision.
The short-term outlook for the UK has deteriorated since the Bank of England issued its quarterly report in February and inflation is now forecast to increase to more than 5%. In a normally functioning economy policy setters would be raising interest rates to counter this.
Although we have once again returned to economic growth the feeling is that the economy remains far too fragile to cope with any rise in interest rates in the short term. In addition, we continue to hear significantly different comments from forecasters giving their opinion on what will happen with the economy and the policies that should be adopted to both shape and influence it.
On the one hand, some believe the Bank of England base rate should be raised now and steadily throughout the remainder of 2011 and into 2012, forecasting a base rate of 2.75% by the end of next year. Others take the opposite view and believe that the rate must and will remain at its current 0.5% for both this year and all of next.
Who knows who is correct? But in terms of what is happening to mortgage rates May has seen a flurry of activity with lenders withdrawing and re-introducing new products, refreshing and re-pricing existing mortgage deals with hardly a single working day going by without some product change taking place.
Average mortgage rates for 2 and 5 year fixed rates fell back by 0.06% and 0.18% respectively in June from May and now stand at 4.44% and 5.44% respectively. Average two year tracker rates also reduced further to another new low of 3.38% in June down by 0.02% from May.
Mortgage product numbers overall have continued to improve, with the number of deals throughout May averaging a little over 7,000. However, we have seen a further increase from lenders, recently with product numbers averaging more than 7,400 in the first two weeks of June. This demonstrates an increasing willingness to lend and more products means greater competition and better rates for borrowers.
For further information on how the latest base rate decision affects you, please call Matt Johns or James Webster on 01752 204000
Your home may be repossessed if you do not keep up repayments on your mortgage.
A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £95.
8 June 2011
STRONG DEMAND FOR RENTAL PROPERTIES
Almost half (49%) of landlords believe demand for rental property from tenants has increased, according to the latest quarterly Landlords Panel research from BDRC Continental in partnership with the National Landlords Association.
The report shows that landlords tend to be happy in their profession - 78% feel positive about being a landlord - although that does not mean it is an easy occupation. 62% believe it has become harder recently, and only 8% agree that landlords are respected by the general public. However, BDRC Continental’s research shows that landlords have fared well over the last three months. They are optimistic about the future, with 49% expecting demand to continue increasing and just 6% predicting a fall.
What’s more there are signs that rental properties continue to be a popular investment, with a larger proportion of landlords expanding their property portfolio, as opposed to reducing it. Reflecting a cautious air of optimism, 10% have acquired more properties in the last three months, while 16% plan to do so in the next three months. Rising rents are also good news for landlords: 43% of those surveyed report a rise in rents in areas where they let properties.
Across the board, rents have risen by 4.7% and one in five respondents say they are making enough money to live on their rental income. A further 31% actually make enough profit to save some of their rental income. A further 10% are breaking even and only 5% are making a loss. However, just over half - 52%, have experienced rent arrears during the last 12 months.
Mark Long, business propositions director for BDRC Continental says: “As with other occupations, there are important regulations and responsibilities that go with being a landlord. These include major features such as the Tenancy Deposit Schemes and the Client Money Protection Scheme, that safeguard tenant’s deposits. Our research showed that almost two thirds of landlords taking part in the research are unaware or unsure of what the scheme is, although those using a letting agent for full management services are far more tuned into this significant initiative.”
He adds: “While low interest rates and lending criteria are key factors, advice from a third party is a major element in the choice of lender for 42% of respondents. 59% also agreed that they were open to the idea of BTL lenders providing broader advice to them as landlords. Frustrations in the life of landlords include rent arrears, void periods, poor public perception and the lack of a collaborative approach to providing housing by local authorities.”
6 June 2011
STATISTICS SHOW HOUSE SALES ARE UP BY 4.7%
House sales increased by 4.7% in May compared to the previous month to reach the highest level seen since May last year, the latest Maitlands Statistics show.
The number of houses sold in this month was only 2% down on May 2010’s figure.
The statistics show that the 4.7% increase in May was led by activity in lower and higher end markets with strong activity for 2 bedroom houses and country homes in excess of £750,000.
Meanwhile, the number of new for-sale instructions received in May was up 1.7%, following a 0.5% drop in April, although the figure is down 6% compared to May 2010.
Andy Blacklock, Managing Director of Maitlands, says: “It’s good to see that the drop in activity seen in April - that we can attribute to the plethora of holidays – has now been more than compensated for with decent increases in both the number of houses sold and the amount of new for-sale instructions.”
He adds that the recent sunny weather, combined with expected stability in interest rates and gradual economic recovery, is restoring consumers’ confidence in the housing market and encouraging them to move.
16 May 2011
LICENSED ESTATE AGENTS IN DEVON & CORNWALL HELPING CUSTOMERS WIN
Maitlands Sales & Lettings is proud to have received its licence from the National Association of Estate Agents (NAEA)
A licensed estate agency branch means consumers are guaranteed that at least one agent within that branch is qualified in residential property sales, either through a formal qualification or through length of membership of the NAEA. This qualification requirement is unique to NAEA licensed estate agents – the only licence of its kind in the UK property industry.
At its launch in the house of Commons in November, the licensing scheme was given the backing of Grant Shapps, Housing Minister and Alison Seaback, Shadow Housing Minister.
Shapps said ‘By ensuring they enjoy the trust of people buying and selling homes, estate agents will inject greater confidence and movement in the housing market.
In future anyone looking to buy a home or sell theirs should ask the simple question of their estate agents “are you licensed by the NAEA?”
Currently there is no barrier to anyone setting up and practising as an estate . There is no legal requirement for estate agents to obtain the new licence, leaving consumers with a clear choice over whether they choose a licensed or unlicensed agent.
Peter Bolton King, chief executive of the NAEA said “I am delighted to confirm that Maitlands is now fully licensed.”
“We would like all sellers and buyers to ask their prospective agents, ‘Do you have an NAEA licence?’. If they don’t, they should ask themselves whether that’s the agent from whom they will get the best service when marketing their property.”No one would knowingly us an unlicensed taxi driver. Neither should they use an unlicensed estate agent.”In a difficult time it is important for anyone placing a home on the market to use a professional, knowledgeable agent. NAEA members know their local area and know their local market. That is very important to consumers”
The new licence will also guarantee the agency is covered by requires amounts of professional Indemnity Insurance. They will also undertake 12 hours of Continuing Professional Development every year, commit to keeping up to date with industry developments and be bound by the NAEA’s Rules of Conduct.
Maitlands Launch New Initiative to Speed Up Home Sales
With an estimated 1.3m homes for sale and an average of 50,000 completed transactions per month, the typical vendor has a ‘1 in 20’ or 5% chance of successfully selling their home in any given 4 week period. In response to this Maitlands Sales & Lettings, a member of The Guild of Professional Estate Agents is today announcing the launch of a new ‘Accelerated Marketing Programme’ which has been developed and specifically designed by The Guild to improve the presentation of its vendors’ property.
This exciting and innovative new marketing service is available via all of The Guild’s 600 plus UK offices and will help maximise the impact, appeal and resonance of the property in today’s stable but challenging market.
Given the vast choice of properties available for purchase, simply being attractively priced and available to view on the major portals is no longer a fundamental discriminator, and certainly not sufficient to guarantee a quick and successful sale.
As part of the Accelerated Marketing Programme an agent at Maitlands will interview the vendor to explore their motivations and aspirations, including capturing any unique characteristics of the property and following this, a highly innovative marketing programme can be brought into play.
The package consists of a short film ‘videoette’ which provides a life-like glimpse into what it might be like to live in the property. This, along with an electronic page-turning brochure can easily be emailed to friends and family to gage their opinion. The home will also reach more prospective buyers via a dedicated full page feature in the agents’ own regional property magazine and high quality personalised brochures and canvassing cards will be distributed to carefully selected potential buyers.
These activities will help animate and narrow-down a property search and save time on assessing properties of potential interest as well the time required by the agent to facilitate this. Additionally, regular appraisals during which the vendors will assess the marketing and sales process of their property will help keep the sale on track and the momentum high.
This new programme combines the best of old and new media, to ensure the maximum possible exposure for the property, encourage high levels of viewings, and help to secure a quick and successful sale at an attractive price. Most importantly, this powerful and integrated campaign can be equally effective for properties already on the market as for new listings, which bodes well for vendors whose home has already been on the market for a length of time, and will help avoid the potential stigma of a ‘stale’ home that psychologically no-one wants to buy.
Andy Blacklock Managing Director : “I am delighted that once again, we have led the way in providing compelling and innovative marketing solutions which benefit vendors selling their home and that Maitlands can provide this service in all of our offices throughout the region. We pride ourselves on upholding the highest standards of expertise and customer care and now more than ever are striving to explore ways in which they can secure the result that vendors deserve for their property.”
This latest initiative follows the recent launch of Maitlands’ app for iPhone and iPads.
New Mobile phone APP
Exciting news we have launched their very own APP for use on your mobile phone to download any property in any location at any time of the day. Download it today.
Award Winning Estate Agents
Over the last year Fine and Country Estate Agents have expanded, opening offices in fantastic locations throughout the UK. Though the company has expanded our marketing and customer service has not altered, we have improved. In the later part of 2010 we were invited to attend a number of award dinners. Fine & Country picked up a number of awards for marketing, international & UK based residential property awards and The Times Estate Agent of the Year 2010.
