Buying, selling and letting - Monday, February 04, 2002

If you're interested in investing in property you'll need to study the form first. Paula John, Editor of Your Mortgage magazine, gives some tips on how to become a successful landlord

Returns on buy-to-let property can be very attractive. But there is a lot more to being a landlord than sitting back and waiting for the cheques to roll in every month. In fact if you don't do your homework, investing in property could end up costing you money rather than earning it. So before you undertake this type of investment there are number of things that you need to consider.

Choose carefully

Make sure the property you buy is in an area that is well suited to letting. Your property will be easier to rent out if it is near a large city and is close to local amenities with good transport links. Consult local estate agents and letting agents to determine the supply and demand of rental properties in the area. Advertisements in local newspapers will also give you an idea of how much rent you can expect to receive.

Do your sums

Never underestimate the initial cost of investing in property. Most lenders will only allow you to borrow 80 per cent of the value of the property you want so you'll need to fund a substantial deposit as well as solicitors' fees and other home buying expenses. Most lenders will require your expected rental income to equal at least 125 per cent of the monthly mortgage payment so it's vital that you do your sums first. It is also your responsibility to pay for the maintenance of the property. Furthermore, most lenders recommend that you put some money aside in case something unexpected happens. If there is ever a period where you are between tenants, stop receiving rental income, lose your job or the tenants from hell have set fire to your house, you'll be glad you did.

A landlord's life for you?

Investing in property may not be a stroll in the park – but the more preparation you do before you start out the more likely it will be that your investment will yield financial rewards later. However, remember that any profit you make when you sell the property will be subject to Capital Gains Tax (CGT), which is charged at the highest rate of income tax. (To reduce your costs UCB Home Loans recommends putting the property in joint names to make the most of two personal tax allowances.) You also pay tax on your rental income although mortgage payments are tax deductible. Of course, property prices can go down as well as up but John Crossley, head of mortgages and lettings at Bradford & Bingley, believes that potential landlords shouldn't be too concerned about any short-term slowdown in the housing market. He says: ‘Buy-to-let is a long-term investment and over a period of 10-15 years you would expect the property you had bought to rise considerably in value. If prices do slip a little, now could actually be a good time to enter the buy-to-let market.’

In an ideal property-buying world, once a buyer has made an offer on a property and the vendor has accepted it, all that’s left to do it tie up loose ends. But what happens when you’ve tied up hundreds of pounds in buying a property only to find that the vendor has had a better offer – and you’re the one at a loose end? Gazumping is an unfortunate property phenomenon, to put it mildly. And in the current climate it’s making a comeback.

Much of the stress of buying a home stems from the fact that a firm offer isn’t always given a firm acceptance. There are many things that can go wrong between the offer stage and exchange of contracts (when both parties are legally bound to go through with the transaction at the agreed price). Gazumping is one of the more frightening of the possible pitfalls. In these days when property prices are rising so rapidly -- and property is so scarce – the time between acceptance of offer and exchange of contracts is long enough to leave the vendor feeling, as exchange approaches, that he could get substantially more for his property than the agreement will net. Many buyers are finding that their vendors, often people with whom they’ve built up a friendly rapport, are more than prepared to suddenly take their property ‘off the market’ and put it back on at a much higher price (or play a waiting game while prices rise further).

Gazumping occurs when a vendor, having accepted an offer on a property, then accepts a better offer from another buyer. There is no provision in English property law to rid the system of what many consider an unfair practice. And market conditions such as we are experiencing now, when there are too many buyers chasing too few properties, are the perfect breeding ground for the gazumping virus – rather like particularly wintry weather brings fears of a ‘flu epidemic.

However, there have been methods used to ‘vaccinate’ particular transactions against susceptibility to gazumping. The Law Society’s Conveyancing Standing Committee has recommended that the vendor and buyer enter into a ‘pre-contract deposit agreement’ in which each side puts up a preliminary deposit of 1.5 per cent of the purchase price in a fund to be held by a stakeholder, with an agreement to exchange contracts within four weeks. If one party pulls out of the sale without a good reason (the survey may render the vendor’s position untenable, meaning that in effect the property is not what the buyer put the offer on, for example) both deposits are released to the other party.

In a less formal method used by certain solicitors, the buyer pays a ‘pre-deposit’ – usually about £1,000 – which grants him the exclusive right to buy the property and sets a time limit by which he must buy. The pre-deposit is lost only if the purchase doesn’t proceed within the stated time frame.

Both methods are creative ways to counteract a climate in which the trust which is crucial to a property sale is under threat. There are two sides to the gazumping argument – and of course which side you’re on depends simply on which side of the property transaction you are on. Stories of buyers throwing money away on surveys are compelling – and there must be a better way than this system which allows a buyer to get most of the way down the yellow brick road before being told that the Wizard is simply a cypher on a screen. But vendors also feel they need proof that a buyer is serious and has the funds to go through with the purchase – and this proof, they say, is often only be available at that late stage.

Ways for buyers to avoid gazumping

·    Have your financing in place and appoint a solicitor before you make an offer
·    Base your offer on knowledge of what properties are selling for in that area at the time – if the market is hot you may have to offer the asking price.
·    Don’t be shy about  communicating with your solicitor – it’s important that he or she moves with speed.
·    Get surveys done as quickly as possible – this is one of the few areas of purchasing in which you can make a real difference time-wise.
·    Communicate with the vendor or agent – this lets them know you’re serious about the property and can be a way of finding out if there are other buyers interested.
·    Be flexible if the vendor is adamant about what is included in the sale or about a certain moving date.

High ceilings, unusual layouts and large room sizes are among the features that make Edwardian property so popular. Karen Keeman looks at a stunning refurbishment scheme in Epsom. 

Although his reign was only brief, property built during the time of Edward VII (1901-1910) has proved to be among the most characteristic architecture in the UK today. Edwardian houses are simpler and much more beautiful than their Victorian cousins, thus making them very much desired.

Conversions from this era are incredibly popular, attracting buyers who want to benefit from large rooms, period windows, high ceilings and unusual layouts. Features including gables, brickwork and simple, stately exteriors set the homes apart from the crowd.

In the market town of Epsom, a former Edwardian hospital estate is being transformed to provide 104 one-, two-, three- and four-bedroom apartments. The sensitive refurbishment scheme, by developers Bryant Homes and Alfred McAlpine, uses the latest building techniques to return the Edwardian architecture to its former splendour.

The development, named Clarendon Hall, will sit in a 308-acre site including the charming art deco Clock Tower. ‘Clarendon Hall is a premium example of Bryant Homes’ skill and technical expertise in conversion and restoration,’ says Malcolm Pink, managing director of Bryant Homes (Southern). ‘Clarendon Hall is a major triumph in the restoration of an old world that had become neglected.’

Due to the scale of the conversion, many apartments have charming and quirky details like long hallways, huge store cupboards, kitchen pantries, extra large master bedrooms and triple-aspect reception room with panelled bay windows. These unusual features are drawing a wide variety of buyers who are enthralled with its architectural charms.

‘Professional commuter couples see Clarendon Hall as an escape from the city,’ says Pink. ‘Other keen buyers are in need of downsizing to a quiet place to be close to their families. Some buyers are early retirees who are selling the family home, living abroad for six months of the year and in need of a convenient attractive home base.’

Epsom lies midway between Sutton and Leatherhead, off the A24 and close to Junction nine of the M25. The development is ideally placed to commute to Victoria and Waterloo, with a train time of approximately 35 minutes.

All residents at Clarendon Hall will be able to enjoy the secluded wooded grounds surrounding the development, and many apartments look out on the flowing trees brought back from the four corners of the British Empire including India. Some ground floor apartments also have patio doors and private terraces.

Current guide prices at Clarendon Hall range from £160,000 for a one-bedroom ground floor apartment to £370,000 for a three-bedroom, two-bathroom duplex apartment with garage and parking space. Call the marketing suite on 01372 743344 for more information.

Q I’m about to buy a property and was surprised when my solicitor mentioned something called an environmental report. It shows the property is in an area with a high risk of subsidence. I am tempted to ignore this as I know the house is located where London clay is prevalent and I believe this is what concerns my solicitor. What should I do?

A The Environment Agency of England and Wales, local and other authorities have begun to issue environmental reports to give buyers and sellers information about  land contamination, subsidence, flooding, industrial land use or other potential problems that may affect a property.

As you seem to realise, the environmental report’s findings don’t necessarily mean the property you hope to buy is itself in danger of subsiding. These reports usually cover an area, often a postcode sector, typically 250 to 500 metres around the property in question.

However, any potential dangers revealed by searches or enquiries must be looked into thoroughly so that you know as much as possible about what you’re getting into. It would be worth asking your surveyor whether the property has suffered foundation movement in the past. You should also arrange for a consulting engineer or structural surveyor to look into the possibility of subsidence and produce a report. This may delay the transaction and will probably cost you upwards of £700, but could avoid future problems. Additionally, you should explain the problem to whoever is to arrange the buildings insurance for you. It’s essential you obtain written confirmation from the insurer indicating they are aware of the threat and agree to continue cover.

If it looks like the property has suffered from subsidence or may do so in the future, the usual remedy is underpinning. If you still wish to proceed with the purchase, you should consider using this as a bargaining tool in seeking a price reduction.

Above all, make sure you take all the necessary precautions before and not after exchange of contracts, when it will be too late.

Q I recently decided to put a maisonette I own on the market. I bought it some years ago as a letting investment. My estate agent advises me the property is suffering from physical defects which may put some buyers off. These include damp walls, faulty electrical wiring, loose plastering and woodworm. Do I really have to sort these matters out before I can sell the property?

A Not necessarily – physical imperfections do not have to be remedied in order to put a property on the market. However, the problems you mention will almost certainly affect the ultimate selling price and possibly also the speed at which you can sell.

The law puts the onus on buyers to discover for themselves what kind of condition the property is in. You do have a duty to disclose hidden defects you are aware of, but it’s clear that you have been straightforward with the selling agents.

What you choose to do really depends on how quickly you want to sell the property. Consult at least two estate agents to compare the market value of the property in its present state with how much it might fetch in a better state of repair. This will help you to decide whether it’s more economical to sell the property in its present condition or make the repairs. The choice is yours.

There’s more to decorating a room than meets the eye. For inspiration and advice, take a look at show homes to get a host of ideas from traditional right through to retro chic.

When programmes such as Changing Rooms rule the airwaves, it is no wonder everyone thinks they can be an interior designer. But creating the right look – whether it is contemporary or traditional – is not as easy as the likes of Laurence Llewelyn-Bowen would have us believe.

Stacey Walker, a designer from Alexander James, believes that designing a home is all about stamping your own personality onto the property. ‘Decide what colours you want to use. Do you want to go for a cool, calm look using whites and blues or do you prefer pinks and purples that are a bit warmer,’ says Walker. ‘When considering furniture, the tip is to take your time and never overfill the room. If you can, go and measure up the furniture then draw a floor plan and move things around on paper to get the most out of the space available.’

Creating the look at Sunley Homes’ Port Regent development in Sovereign Harbour, Eastbourne, the team at Alexander James designed a very young and trendy theme using lots of warm colours. The town house show home has a calm aquamarine theme with rattan weave carpets, while the show apartment features the sharp lines of chrome, metal and glass. Customers can also upgrade via Sunley Select and choose Shaker-style moulded doors, matching ironmongery, sleek kitchen worktops and ceramic floor tiling.

The 69 new homes built on the West Harbour at Port Regent start at £125,000 for a two-bedroom apartment rising to £174,950 for a four-bedroom town house. Call Sunley on freephone 0800 085 2222 for more information.

One of the many advantages of buying a new home is that you don’t have to put up with anyone else’s taste. Bringing in the experts to personalise your space to suit your lifestyle and needs is a hassle-free way of creating your dream home. Developers Metropolis and Bryant Homes have created packages to allow the customer a chance to create the perfect home.

At Metropolis the customer can choose from the showrooms of cutting-edge kitchens and bathrooms to find everything from flooring and fittings, as well as consult the interior design team to get a home specifically tailored to the individual’s unique requirements. Call Metropolis on 020 7580 5563.

Bryant Design allows you to turn a standard house type into a home. The customer can browse through the on line catalogue to get a feel for what Bryant can do and sift through the range of products to decide what best suits. Call Bryant Homes on 0121 711 1212.

Ten years ago you couldn’t get a specific buy-to-let mortgage from a mainstream lender. Today, more than 40 lenders offer these mortgages. But, asks Andy Stuart, Editor-in-chief of Your Mortgage magazine, is buy-to-let a safe bet?

According to the Council of Mortgage Lenders there are currently more than 110,000 outstanding buy-to-let mortgages worth £8.3 billion in the UK. And with research from Bradford & Bingley Estate Agents revealing that some landlords are earning returns of up to 10 per cent a year, it appears that buy-to-let has been an unequivocal success for borrowers as well as lenders.

However, speculation about a possible recession means that the future may not be as rosy. After a disastrous first half-year for the stock market, the terrorist action in the United States threw the financial picture into even more disarray. In reponse to these events, the Bank of England’s Monetary Policy Committee (MPC) – concerned by the possible effects of a global slowdown – has cut interest rates six times this year. Fears of a recession in the US are very real and, as the saying goes, whenever our colleagues across the pond sneeze, we catch the cold. So is buy-to-let still a safe investment in the light of this uncertainty?

The stock market reacts more quickly than other economic indicators. So the frailty of the FTSE this year could result in a house market crash next year. ‘Property prices can move in the same way as the stock market, so there is every chance things could turn sour,’ says Mark Harris, director of Savills Private Finance. ‘If the market crashes, buy-to-let investors could be in trouble if they have not put something aside because their money is tied up in the property.’

But low-interest rates are actually very helpful for people who are looking to buy – and with mortgage rates at their lowest level for almost 40 years, shouldn’t now be the perfect time to enter the buy-to-let market?

‘Buying to let is still extremely popular and we expect this to continue,’ predicts Roger Hillier, product development manager at Mortgage Express. ‘Of course there have been noises about an economic downturn but if this happens I don’t think the market will be affected.

‘The demand for rental accommodation continues to outstrip the supply and with first-time buyers waiting longer before they get a mortgage, this also means that more people will continue to rent. Even if there is a recession and a landlord lost their job, a buy-to-let mortgage is assessed on the expected rental income, so as long as this covered the loan payments and maintenance costs there wouldn’t be a problem.’

For the right person in the right circumstances buying to let can be a good investment, but you have to be in it for the long term. Don’t expect instant returns – and bear in mind that the property market could turn and rental levels may fall as well as rise. These potential pitfalls might not suit those who are looking for security.

However, if you do take the necessary precautions, many of the everyday problems associated with a buy-to-let investment can be overcome. Before you plunge into this market make sure you research all your options thoroughly. There may be rough times ahead, but the long-term future could still be very profitable.

As property prices have gone sky-high, many in London and the South East have had to find unusual ways to become property owners. Shared ownership is one way to help those who have been priced out of the open market.

Shared ownership enables people to buy a significant share (typically between 30 and 50 per cent) in a home with the opportunity to purchase some or all of the remainder as and when they can afford it. Along with a monthly payment towards the share of the purchase, shared ownership buyers also pay a subsidised rent to the owner of the remaining share of the property, usually a housing association (also known as ‘registered social landlord’). The monthly costs are more affordable with shared ownership than with buying outright – and the buyer is able to enjoy the day-to-day benefits of owning immediately.

Housing associations offer shared ownership schemes on a variety of property types, both newly built and previously owned. New home builders routinely work alongside housing associations to provide homes, some of which are made available as part ownership schemes.

This type of scheme benefits not only those it enables to buy property; as people move from council tenancy on to the property ladder, local authorities are better able to keep up with demand for council-owned rented property by those who would not be able to afford even part ownership. In addition, the services a community relies on in turn relies on workers to deliver them. The lack of housing is a threat to the well-being of everyone, whatever their own financial situation.

A particularly inventive type of shared ownership helps people build a better future – literally. The self-build shared ownership scheme, as offered by the Boleyn & Forest Housing Society, aims to help people afford a home who otherwise would not have been able to – and to encourage those who are prepared to meet their housing needs through their own endeavours.

The scheme enables people to acquire an approximate 25 per cent share of a property through their own labours known as ‘sweat equity’. They may also need to obtain a mortgage or have sufficient savings to acquire a further approximate 25 per cent share of the property. They would pay a subsidised rent on the share of the property that they do not actually acquire, as they would then be a shared-ownership home owner.

The Boleyn & Forest Housing Society presently offer three self-build schemes in London – in Beckton, Docklands and Bow. Applicants must either be first-time buyers or must require alternative accommodation but not be able to afford to move without the assistance of shared ownership. Preference for these schemes will be given to residents of the borough where the scheme is located, and those with trade or DIY experience are also given priority.

Quick contacts

Housing Corporation
020 7292 4400 (London office)
020 8253 1400 (South East office)

Boleyn & Forest Housing Society Limited
020 8472 2233

Metropolitan Home Ownership
020 8920 4444

Acton Housing
020 8840 6262

What are the advantages of buying instead of renting? And what does a first-time buyer need to keep in mind when entering the property market? Paula John offers some tips

First of all, remember that this will most likely be the biggest financial commitment of your life, so don't buy half-heartedly. If you're going to do it, make sure you really want to and then do your homework. When it comes to getting the best house and the best mortgage deal you truly do reap what you sow.

There are those for whom owning a property is the be-all and end-all. The idea that an Englishman's home is his castle still rings true for many. But others think of buying their own home with a shudder. They see a mortgage as something you are saddled with, not a tool to enable you to get a home. And buying a home can sometimes mean shackling yourself to a property and an area, whereas when you rent you are a free spirit, bound to your dwelling only for as long as your notice period. Plus buyers are responsible for the upkeep of the property, another sizeable sum, and you’ll need to furnish the place – have you seen the price of washing machines, cookers and fridges recently?

Many people are more than happy renting. Students and young professionals account for a huge proportion of the rental population and it often benefits their lifestyles. Many want the flexibility that renting gives them, particularly when they’re not sure what type of work they’ll be in in a few years' time. Also, maintenance can be an expensive business, not to mention a time-consuming and irritating one.

The biggest argument in favour of buying is that you are paying for something that you own – and is yours to sell. In fact, the mortgage may well be cheaper than the rent on an equivalent property, especially if you buy with a partner. Owning is by far the preferred option of the British population. Despite the initial costs, 504,000 mortgages were taken out by first-time buyers in 2000 and, according to the Council of Mortgage Lenders, owner-occupied property accounts for approximately 68 per cent of all UK housing stock.

Owning your own home not only makes you feel secure, but also makes sound financial sense. Firstly, you are not wasting a significant sum on rent each month. Renting is dead money and when you add it up over a number of years it's a huge amount. Secondly, you could see capital growth on your property. Average property prices are around 15 per cent higher than this time last year and currently show no sign of a major drop, although many experts predict that the rises we have seen in the last year cannot continue. Having said this, experts agree that bricks and mortar remains the best option for long-term investment. When looking for a property, keep in mind not only what type of property and what location you feel comfortable living in, but also what is likely to appreciate in value in the medium-term.

And if you’re thinking of buying, it is a particularly good time to borrow. Mortgage rates are at their lowest in 40 years. Bank base rates, which influence mortgage rates, were cut by the Bank of England seven times last year and borrowing is particularly cheap. However, it's worth remembering when you work out how much you can afford to borrow that mortgage rates may rise again at some point – and your monthly repayments may increase. When calculating the monthly reqayments you can afford, it’s a good idea to do further ‘what-if’ calculations based on higher interest rates.

If you do choose to buy, make sure you find out what type of mortgage suits you – the choice of mortgages is bigger than ever and it’s easier to find a loan that matches your financial situation. Information is everywhere – avail yourself of it and do your research properly.

For help in finding and buying a property, visit www.hotproperty.co.uk.

Want to reduce your home loan by £50,000? Then making regular overpayments on a flexible mortgage should be your goal this season, writes Paula John of Your Mortgage magazine

Since they arrived from Australia six years ago flexible mortgages have transformed the UK property-purchasing market with consumer-friendly features such as overpayments, underpayments, payment holidays and the facility to borrow back overpayments. But it is really the option to overpay that makes most sense. For example, if you were to pay an additional £50 on top of your usual monthly payments with a £50,000 interest-only mortgage, at a rate of seven per cent, with Skipton Building Society, you would be able to pay your mortgage off six years and eight months in advance while saving £25,478 in interest. While if you were to pay an extra £100 a month you would be able to pay off your mortgage 10 years and three months ahead of schedule and save £45,510 in interest. Not a bad saving for paying just over £3 extra a day.

How you CAM save

Current Account Mortgages (CAMs) allow the borrower the same benefits as a flexible home loan but with one added extra. With a CAM you can combine your salary, savings and in some cases your credit cards and personal loans with your mortgage and run all your finances in a single account, which could be more convenient for you. As with an ordinary current account you can still withdraw money as and when you please. But at the same time your mortgage debt will be further reduced because instead of paying interest on the whole of your mortgage you only pay interest on the difference between your mortgage debt and your savings. Your savings will work harder for you saving money at the mortgage rate than they would earning money in a traditional savings account.

And if you pay your salary into your CAM each month the total amount you could reduce your mortgage by is particularly impressive. ‘By paying your salary into your CAM you can overpay by default,’ says Matt Smith, head of marketing at Britannic Money. ‘Instead of earning little or no interest the money that you would normally have left in your current account at the end of each month can have a dramatic effect on the amount that you owe on your mortgage. Choosing to pay your salary into a CAM is a painless way of reducing your mortgage debt and paying it off perhaps years in advance.’

Separately together

Another new type of flexible home loan, the offset mortgage, also allows the borrower to combine all their finances together. However, unlike a CAM, your mortgage, savings and salary all remain in separate accounts. At the end of the day a virtual sweep is done automatically to make sure your money earns the best rate of return. For some borrowers this method may be easier to follow than a CAM. ‘With an offset mortgage borrowers can adapt their budget and funds to suit changes in their circumstances,’ says Northern Rock spokesperson Ron Stout. ‘Basically they are a great way of making
your money work efficiently for you.’ Northern Rock's Together Connections offset mortgage allows you to make overpayments on both your mortgage and any personal loans you might have. For example if you paid £50 extra a month on a 25-year £65,000 repayment mortgage at 6.99 per cent combined with a personal loan of  £18,000 more you would reduce your mortgage and personal loan term by three years and six months and save £16,320 in interest.

The flexible future

Flexible mortgages, CAMs and offsets may be tipped to be the home loans of the future but with talk of a possible recession also looming on the horizon, is it really worth overpaying on your mortgage at this time? ‘If a recession is imminent it could be a good idea to overpay on your mortgage now because you will be minimising your debt,’ observes Britannic Money's Smith. ‘Flexible mortgages are just as relevant when times are bad as they are when they are good because you can borrow back any overpayments you have made and take a break from paying your mortgage if you need to.’ Although flexible mortgages may well be recession-proof it is important to remember that they are not suitable for everybody. This type of mortgage will be of little use to those borrowers who run their current account in the red every
month or have little or no savings.

As the boundaries between leisure and work time blur, the need for a home office grows and, as Karen Keeman discovers, becomes one of our main considerations when buying a new home.

About 7.5 million people now work from home and this figure is set to grow, suggests research from the Henley Centre. By 2006 more than 30 per cent of the UK workforce will have a home base.

The key to your success is to make sure you actually have the space for a home office. Carrie Bradshaw in Sex in the City may be able to turn out a weekly newspaper column perched on the end of her bed in her pyjamas, but for most of us finding the right space and filling it with the right equipment is imperative to our professional lives.

If you are going to work from home, you will need to have the latest technology to compete in the world of business. The developer behind the homes at the Greenwich Millennium Village has ensured that a structured cabling system is installed in all units. This allows residents support to computers, telephones, televisions, home entertainment systems, safety and security systems. Every home will have access to the internet through Greenwich Millennium Village’s own domain that will keep you up to date with local news and events on the community website.

Prices for the newly released homes start at £185,000 for a one-bedroom apartment and £195,000 for two-bedroom apartments. Call 020 8293 6900 for more information.

Gerard Hodges has been working from home for the last seven years. But as his property maintenance company grew even bigger he realised that he was going to have to find alternative accommodation.

Not wanting to take out a lease on an office, he thought about building on top of his double garage. This is when he found out about a new development by Bellway Homes. At Fennlands Down in South Woodham Ferrers, Essex the company is building homes with double and triple garages and studios – ideal for conversion into office space.

Gerard believes the development will be extremely popular with those running small businesses. ‘More and more people are working from home and this type of house is ideal,’ he says.

When completed, Fennlands Down will comprise 45 four- and five-bedroom houses. Prices start at £290,000. Call 01245 425120.

As working from home has become more popular, so has the boom in live/work units. Reflecting the changing requirements of today’s homebuyer, RLD has launched Orchard Wharf, minutes away from Canary Wharf. The minimalist loft-style apartments and duplexes can be arranged in a way to suit the needs of the home worker while retaining their riverside charm. Prices start at £210,000. Call 020 7538 1830.