Buying, selling and letting - June, 2005

From bustling towns to sleepy suburbs, Middlesex has it all. And, finds Johnny Turner, the new homes there are well worth a look.

For a genteel, convenient place to live, more of those in the know are looking west. The pretty towns of Middlesex offer everything today’s buyer wants – and the currently available new developments present a plethora of options. Here are just a few of them.
Persimmon Homes’ latest development in the area is The Chase, located in Harrow. Set behind a gated entrance with private parking, The Chase is ideally located for City commuters – and, thinking more locally, is within walking distance of local shops and amenities.
With striking elevations and flexible accommodation, the Ascot and Windsor town houses take three-storey living to a whole new level. Each design provides convenient living space on the ground floor with a well-planned kitchen, cloakroom and lounge leading out to the patio and rear garden. The first floor has two perfectly sized bedrooms with quite a few possible uses: they are ideal either for similar-aged children or as a stunning TV room or workplace along with an elegant guest room. The second floor is a sanctuary, with a spacious master bedroom, adjacent dressing area and en suite shower room.

The location, off Lower Road in South Harrow, is near both the M40 and M25. South Harrow tube is approximately an hour from King’s Cross on the Piccadilly Line. Prices for a three-storey town house start from £349,950. Contact selling agents Colin Dean on 0845 676 0184 or visit persimmonhomes.com.
Laing Homes has several high-quality developments currently on the market. Starting in Enfield, Jerome Walk is a stylish collection of one- and two-bedroom apartments and three-bedroom houses. Located close to local amenities and with good transport links – and priced from just £155,000 – these properties are ideal for first-time buyers looking for a contemporary new home. Jerome Walk is also perfect for investors; prospective tenants will be impressed by the easy commuter options, with Brimsdown station and the bus terminus just two minutes’ walk away.
Purchasers also have the ability to design the home of their dreams, with Laing Homes’ unique Homestyle service. This allows buyers to upgrade and design their property to meet their needs. And the opportunity to view the home at the architect’s-drawing stage puts buyers in a strong position from the standpoints of price and choice. Those interested in finding out more about Jerome Walk should call 020 8804 1036.

Another Laing Homes development is Woodgate Court, located in sought-after Ruislip. This collection of highly individual one- and two-bedroom apartments offers the irresistible combination of attractive contemporary architecture, inspired interior design, high specification and landscaped grounds.
The select development is superbly placed to take advantage of Ruislip’s wide selection of bars, eateries and shopping facilities. And commuting to London is simple; from South Ruislip tube station a journey to Tottenham Court Road takes only 35 minutes. By road, the A40 gives a direct route into London and connects to the M40.
For more information on Woodgate Court contact the sales and marketing suite, open daily from 10am to 5pm, on 020 8845 2475.

In Edgware, meanwhile, Laing Homes is selling Greenacres, located in Gibbs Green, Edgware. The development of two four-storey blocks in a quiet residential area which features very desirable apartments. A secure gated driveway and ample private parking to the rear are two definite pluses, while there is also a lift to all floors.
Interior specification includes fitted kitchens with Bosch stainless steel integrated appliances, classic white bathroom sanitaryware, towel warmers. There are also recessed downlighters to kitchens, bathrooms and en suites.

Situated less than a mile from Edgware town centre, between Edgware and Mill Hill, Greenacres is positioned to take advantage of good local transport connections and handy shopping and leisure facilities. Edgware Northern Line tube station is less than a mile away, while the A41 and A1 road links can be accessed in under half a mile.
All of the one-bedroom apartments have now been sold, but two-bedroom apartments are currently priced from £299,950. Call estate agent Preston Bennett on 020 8954 8626. And for more information on these and other Laing Homes developments visit laing-homes.co.uk.

Try Homes has three very impressive schemes currently on the market in Middlesex. Starting with Metro in central Uxbridge, this collection of just 20 contemporary one- and two-bedroom apartments has what today’s busy professional needs from a home.
All of the apartments, with the exception of two, have open-plan kitchen/living rooms which are ideal for dinner entertaining. Designer kitchens come complete with integrated stainless steel appliances. Some apartments have an additional en suite shower room, designed with clean, modern lines with contemporary white sanitaryware.
Metro has a lift to all floors, which adds even more convenience. Find out more about these ideal town centre apartments by calling local agent Turbervilles on 01895 201777.

Mayfields is a fine new development of just 16 contemporary two-bedroom apartments located on Swan Road in West Drayton. Mayfields lies just a short walk from a range of amenities and shops along Station Road. Layouts at this development vary widely; however, all except one of the penthouses offers the very popular attribute of open-plan kitchen/dining/living rooms. Ground floor apartments all have French doors from the living room leading to a private patio, while the majority of properties on the upper floors have balconies. Most of the apartments have central hallways from which the various rooms lead, and this creates an immediate feeling of light and space.
Residents at Mayfields will benefit from gated landscaped ground which provide privacy and seclusion, and there is also a convenient parking court for residents and visitors located to the rear of the building. A lift serves all floors. To find out more about Mayfields call local agent Charles Cameron on 01895 444424.

Riverside Gardens, meanwhile, is another Try Homes scheme in the Uxbridge area. Situated on Cowley Road, Cowley, this collection of homes is stylish and varied, making it possible for literally any buyer type to find the home of their dreams. The sensitive conversion of a former coach house has created four two-bedroom cottages, while there are also an elegant terrace of 11 three-bedroom town houses and eight splendid two-bedroom apartments set within a striking modern building.
With the wide variety of property on offer, it is no surprise that the layouts at Riverside Gardens are varied – but prospective buyers can rest assured that each of the homes conforms to Try Homes’ stringent standards of design and finish.
Get more information on this winning development by calling Turbervilles on 01895 201777 or Charles Cameron on 01895 444424.
Find out further details of Try Homes’ developments in Middlesex and the surrounding areas by visiting the website tryhomes.co.uk

From Martin Grant Homes comes Abinger Court, a collection of intelligently designed new two-bedroom apartments and three-bedroom semi-detached house in an impressive Uxbridge location. The family homes have their own private gardens, while the stylish apartments overlook communal gardens. All boast their own allocated parking spaces within the development. Interiors feature the latest contemporary details, including stainless steel hobs in the kitchens and modern white bathrooms.
The location is excellent. Located on both the Metropolitan and Piccadilly Lines, Uxbridge is home to the Grand Union Canal, parks and fresh air, and yet is less than 45 minutes from central London. For drivers, there are easy links to the M1, M4, M40 and M25. It is a thriving commercial town with two shopping centres, a nine-screen cinema, pubs, bars and restaurants. State schools in the area are also good, and for higher education Uxbridge College and Brunel University are based there. Nearby Stockley Country Park has lakes, wildlife and an 18-hole golf course.
Prices start at £199,995 for apartments and £279,995 for houses. For further information on Abinger Court call the sales office on 01895 239429 or Bernard Marcus’ Uxbridge office on 01895 237711.

George Wimpey currently offers two high-quality developments in the county. At Heathside, located in Hounslow, the developer is offering some very attractive incentives to buyers of selected plots. ‘Our easymover package enables purchasers to reserve their new home for just £250,’ says David Hodgson, sales and marketing director of George Wimpey West London. ‘We know how tough it is to save for the deposit in the prevailing economic climate so we have taken that burden away.’
With the easymover package, the developer pays the five per cent deposit and stamp duty, £1,000 towards legal fees and £250 towards survey fees – and it even offers a full removal service.
The incentive package is proving attractive to buyers, 20 properties have been sold in the last 12 weeks, in fact. ‘The first phase of homes has now completely sold out and the interest in this release is even higher,’ adds Hodgson.
Heathside is situated in Vickers Way, Hounslow and is open daily from 11am to 5.30pm. Call 020 8569 5637 or visit georgewimpey.co.uk for more information.

At George Wimpey’s The Grove development in Wood End Green Road, Hayes, there is just one apartment remaining, so those who want a chance to live in this well located and beautifully designed development should act very quickly. The ground floor one bedroom apartment is priced at £196,995. Contact the sales information centre on 020 8589 7810 go online to georgewimpey.co.uk, where you can explore site plans, view the development layout, get directions and even order a glossy colour brochure to be posted to you.

For those who want to know what’s coming up in the future, Linden Homes has acquired a site at Spring Grove Road in Isleworth. Formerly the location of a large factory building which has now been demolished, this is a great area for commuters – and, as Twickenham stadium is nearby, ideal for rugby fans. Linden has plans to build a collection of three-bedroom town houses and apartments, and these are sure to be popular with buyers.
High-quality amenities are all around, from the local restaurants and shops in the town to those in Richmond, Ealing and Twickenham. There is also a wealth of green space locally, including Osterley Park, Kew Gardens and Syon Park. Commuting from the upcoming development will be very straightforward, as nearby Hounslow East tube gives access to the Piccadilly Line (and placing Heathrow less than 15 minutes away). Osterley tube station is also a short walk away.
For further information call Linden Homes Chiltern on 01895 827447.

Bryant Homes’ stylish Grand Union Village (GUV) development from Taylor Woodrow has witnessed strong interest from Londoners wanting to end their working day in more tranquil surrounds. And the prices per sq ft compare favourably with other canalside developments around west London.
These price comparisons reveal that a typical two-bedroom canal-side apartment or warehouse conversion is selling from around £299,950 to £390,000 compared to just £199,995 at GUV. This inspirational regeneration scheme on the banks of the Grand Union Canal in Northolt makes affordable canalside living a reality for many city workers needing a foothold on the tricky London property ladder.
Bryant Homes regional sales and marketing director John Inglis comments: ‘The attraction of living by the waterside has forced many canalside developments to reach an all-time premium. Fortunately, prices at GUV remain lower than other London equivalents – which is good news, particularly for west London’s first-time buyers and working families. Here Londoners will be able to enjoy affordable canalside living, providing the ideal escape from the inner city at a price within their comfort zone.’
Once complete, GUV’s 54-acre sustainable urban development will consist of a mixture of 700 houses and apartments, including 35 per cent of affordable houses for key workers such as teachers and nurses. Community provisions will include a health centre, retail outlets, a restaurant, 20 acres of public open space, community halls and new footpaths and cycle ways.

Prices at the Pointcentral phase currently start at £155,995 for a one-bedroom apartment and £199,995 for a two-bedroom apartment. For information on Grand Union Village visit the marketing suite, open seven days a week from 9.30am to 5.00pm. Call 020 8841 8247 or visit grandunionvillage.com.

Rates on their way down?

In response to weaker than expected economic growth, City analysts have forecast a cut in interest rates as early as this summer.
The Office for National Statistics (ONS) revised first quarter gross domestic product growth to 0.4 per cent on the quarter and 2.1 per cent on the year, down from expectations of 0.5 per cent and 2.7 per cent respectively.
At the same time, however, annual growth was increased for the years 2002 to 2004.
The gloomy economic figures will undoubtedly increase pressure on the monetary policy committee (MPC) of the Bank of England to lower the cost of borrowing. At the May monthly meeting there were voices in support of lowering interest rates for the first time in over a year, and even before the latest statistics were revealed it was thought that more would join the rate-cut bandwagon.

House prices cooling

UK house prices were down in June, taking annual price inflation to a nine-year low, according to the latest figures from Nationwide Building Society. The 0.2 per cent slide in prices comes after a 0.3 per cent rise in May, and reduces annual growth to 4.1 per cent; the annual price growth was 19 per cent this time last year.
This was the slowest rate of growth since July 1996, said Nationwide. The cost of the average UK house is now £157,791.
House prices in Greater London increased by 3.3 per cent over the second quarter of 2005, down from 4.9 per cent in the first quarter. London was still the most expensive place in the UK to buy, with an average property price of £241,344. The lowest prices were in Scotland where the average was £116,943.

Mortgage approvals down

Fears that the housing market may be in for a sharper downturn than previously though were fuelled by new data from the British Bankers’ Association (BBA). The number of mortgage approvals fell in May by almost 25 per cent compared with this time year ago.
BBA says mortgage approvals rose to 67,702 in May from 67,290 in April but were down 24 per cent from 89,289 in May last year. In terms of total value of mortgages approved, lending was down 17 per cent compared with last year.
Director of statistics David Dooks said, ‘While mortgage lending was slightly stronger in May, it is noticeable that all measures were below comparable data a year earlier, when May was a relatively weak month.’
The number of mortgage approvals is considered to be a good guide to the direction of house prices, and economists said the data pointed to a protracted slowdown in the once-booming property market.

Much has been said about the difficulty key workers have in buying a home in Greater London. We bring you information about how they can increase their chances.

With London property prices far outstripping the take-home pay of most key workers, several initiatives have been put in place to help stop the flow of crucial community workers out of the capital. Those in fields such as teaching, police work and health can find ideas and practical help from sources such as Key Worker Living, a government-led initiative.
At Key Worker Living, prospective property owners can find a wealth of information – and can even apply online. There are several schemes currently operating with the goal of making home ownership a more realistic prospect for London’s key workers, for instance equity loans, shared ownership programmes and intermediate renting.  For those who are wondering about whether they quality for key worker programmes, eligibility for the different schemes varies depending upon which key worker group you work in.

Education

For school teachers there are two schemes available: London Challenge Key Teacher Homebuy and Key Worker Homebuy. To qualify for London Challenge Key Teacher Homebuy assistance up to £100,000, an applicant must:

* be a teacher at a school in Greater London
* be a permanent employee
* work in a school that is in receipt of public funds
* be unable to buy a home suitable for their household needs within a reasonable travel to work area of their employment
* have indefinite leave either to enter or to remain in the UK (excluding key workers from member states of the EU/EEA)
* have household income that does not exceed £80,000
* sell their existing property if they own one

There are further criteria based on a points system, giving greater weight to those who work in ‘challenging’ schools, Advanced Skills Teachers, Teach First Graduates etc.

To quality for the Key Worker Homebuy for Teachers scheme an applicant must be a qualified teacher, deputy head or headteacher and teaching in grant maintained primary or secondary schools, including city technology colleges, city academies and schools for children with special needs. Applications may need to be prioritised, and this will be based on the same points system as the London Challenge Key Teacher Homebuy scheme.

Other criteria apply. Those who are unsure whether they qualify for these or other schemes should visit fento.ac.uk or call 020 7332 9535.

Health care

For those who work for the NHS, to quality you must be unable to buy a home suitable for your household needs within reasonable travelling distance of your place of employment. You must also be a permanent employee of one of the following:

* NHS Primary Care Trust
* NHS Trust
* NHS Ambulance Trust
* NHS Mental Healthcare and Social care Trust
* National Blood Transfusion Service
* NHS Direct
* NHS Professionals Special Health Authorities
* NHS GP surgeries
* Nurses in dental practices which have obtained Health Service Body status

Applicants must also have indefinite leave either to enter or to remain in the UK (excluding key workers from member states of the EU/EEA) in cases where they are buying a home, have a household income not exceeding £60,000 and sell their existing property if they are trading up

Within the NHS some groups will have priority, including:

* Nursing staff in general
* Cancer services staff, particularly therapeutic radiographers
* Diagnostic support staff including diagnostic radiographers, bio-medical scientists and microbiologists
* Mental health professionals e.g. mental health nurses and graduate workers in primary care
* midwives
* social workers;
* occupational therapists;
* GPs in under-doctored areas (including Hammersmith and Fulham, Waltham Forest, Redbridge, Havering, Barking and Dagenham, Bexley and Greenwich)
* chiropodists
* physiotherapists
* clinical staff working within the orthoptics, dietetics or prosthetics and orthotics fields
arts therapists
* paramedics
* psychologists
* psychotherapists
* radiographers
* pharmacists

There will be variations in priorities at Strategic Health Authority level according to vacancy levels.

Find out more about key worker schemes by visiting keyworkerliving.co.uk

More people than ever are owning a second home and becoming landlords for the first time. Charles Gordon of Credence Property Services takes us through his top ten tips for success

Hot spot Areas Look for an area that has a high demand for rental properties. A property which can not be rented or stands empty for months is a poor and often costly investment. Seek out areas which are currently undergoing improvement and regeneration as this can add thousands of pounds to the value of your investment. Planned new extensions to the London underground have recently created hot spot areas in Penge, Anerley and Woolwich.

The Property Research carefully the average rental price in the area, for the kind of property you are going to rent. This will give you an indication as to whether the rental income gained from your investment will be enough to cover the mortgage. Remember only top quality properties yield top end rents

The Tenant Consider carefully the kind of tenant you would like and the financial and legal implications of this. Some insurers will refuse to insure you if you rent your property to a housing benefit or social security tenant. In this case you will need to approach a specialist insurance company

Bad Tenants Protect yourself as far as possible from poor paying tenants and those that are destructive to property by doing your research and insisting upon references.

Extra insurance against tenants Use an insurance plan such as Let Plan, who for a small fee will take on the reasonability of the tenants payments and can cover landlords liability, rent guarantee and legal expenses.

Tenancy Agreement The more specific the agreement the better you will be protected. A basic agreement will protect you in law but it won’t cover you for any specific standards you may require. If you desire particular maintenance of your property such as regular mowing of the lawn then make sure you specify it in the agreement.

Professional Advice Don’t go it alone, take time effort and professional advice in order to familiarise your self with tenancy law. It is a logistical minefield and mistakes in the area are extremely costly.

Building Insurance Check your buildings insurance carefully before letting out your property to a tenant. Renting can often invalidate your buildings insurance so always ensure that you have valid insurance

Mortgage Investigate your mortgage thoroughly, and ensure that it allows you to rent your property. A buy to let mortgage allows for this but most residential ones do not. When budgeting take into account that changing a residential mortgage to a commercial one can raise the cost by about 1% or approx £100.00 per month

Eviction of Tenants If it gets to this stage then ALWAYS Seek professional and legal advice before proceeding. Evicting tenants is a complicated and bureaucratic process and the success of your eviction could hinge on something minor such as whether you served the right notice on the right day or not.

Credence 020 8698 6000
credence.ltd.uk

Remortgaging, investing still popular

Over three quarters (78.5%) of property investors are considering remortgaging this year, seeking to take advantage of low rates and competitive lending deals, according to research by the Property Investor and Homebuyer Show North (24 to 26 June, G-Mex Manchester).
This figure has risen consistently over the last three years, showing a 25% increase in the number of people considering remortgaging since 2002 [see graph 1]. This is reflected in data from the Council of Mortgage Lenders (CML) which reveals that remortgages now form almost half (48%) of all mortgage loans totalling approximately £9,300 million pounds, compared to £5,400 million in 2002.

The survey also revealed that 80% of property investors would use additional funds gained through re-mortgaging to reinvest in additional property, emphasising the confidence the majority of investors still hold in the long-term gains of the buy-to-let market, despite negative reports and forecasts from some commentators. Another recent survey from the Property Investor and Homebuyer Show North revealed that 84.9% are still relying on their property portfolio or home to provide them with future wealth.

Shopping around

Nick Clark, Managing Director of the Property Investor and Homebuyer Show North, comments: “Property investors always want to see their money working hard for them and are now more willing than ever to shop around to negotiate the best deal possible for their mortgage. With interest rates historically low and likely to decrease further in the next few months, we are expecting to see many more homeowners and property investors remortgaging to take advantage of competitive deals.”
Lee Grandin, Managing Director of Landlord Mortgages, comments:
“There has been a visible surge in remortgaging over the last few years. Recently we have seen many buy-to-let investors opting for lifetime trackers as they are at their lowest rates above the base rate. One product we offer is only 0.64% over the Bank of England base rate for the life of the mortgage. The other popular option is three-year fixed rates under 5%; these suit investors as they offer some stability, but don't tie them in for too long if rates do come down.”

Rental market

‘There has been little sign of the post election surge of interest that market commentators believed would generate a fresh demand for lettings. The market has remained static and steady, but in the back of many minds, interest rates must come down before people have the confidence to commit to the lettings and sales markets.’ Comments Dayle Hodgson, Senior Lettings Manager for Central and South London.

Mortgage lenders may, however, offer some light relief for landlords. Jonathan Cornell, Director of Hamptons International Mortgages says, ‘ Many lenders are offering competitive, three year buy to let fixed rates at less than 5 per cent.

Throughout 2005 we have seen lenders displaying an unprecedented interest in the buy to let market, and products are more competitive than ever before. Some lenders buy to let rates are actually lower than other lenders residential rates. We have also seen a great degree of product innovation in the buy to let market with lenders finding new ways to help landlords borrow as much as possible on their properties.’

Mortgages becoming more affordable

The proportion of household income spent on monthly mortgage payments across England and Wales increased in May to 18.5 per cent of average household take home pay, up from 18.3 per cent in April and equaling the recent high set in February 2005 and November 2004, according to the new Woolwich Mortgage Affordability research. The recent low was set in March 2002 at 15.6 per cent, just two months after the Woolwich started monitoring affordability.

Andy Gray, head of mortgages for Woolwich, said: ‘The mortgage affordability numbers show that the concern expressed by some commentators about affordability is probably overdone. Much has been made of the current house price to earnings ratio (HPE) being at a record 6.32 – up from 4.9 in the housing recession at the beginning of the 1990s.’

However, says Gray, the data shows the increase in the mortgage burden has been slower and reached less dramatic levels than the HPE would suggest, growing from 15.6 per cent of after-tax earnings to 18.5 per cent. ‘This also indicates that nationally the cost of servicing a mortgage is still affordable for most.’

The stabilising of affordability nationally has been due to improvements in the cost of servicing mortgages in London and the South East. London's mortgage burden reached its highest in November 2004 with 23.2 per cent of income spent on mortgages; this has fallen steadily to 22.8 per cent in May 2005. The South East reached its peak in December at 19.2 per cent and has fallen to 18.7 per cent in May 2005.

Buying 'saves £37,000'

A new study by Abbey suggests that renting a home costs 11 per cent more than buying the same home. The average property now costs £326,849, while the same property would cost £364,499 to rent over the course of the standard 25-year mortgage term.

However, this belies the fact that in most parts of the UK the gap between the cost of renting and buying is narrowing, and is currently at its smallest since Abbey began to research the statistic ten years ago. The bank said a rise of 12.6 per cent in house prices, added to a 0.75 per cent jump in interest rates during the period, had made buying more costly. Not surprisingly, London is the most expensive region in which to rent a home, and in the capital renting is still four per cent cheaper than buying.

Post-election rental surge fails to materialise
Hamptons International says the lift in the rentals market that was widely expected in the wake of last month’s general election has not happened. In London the average rental price was the same when compared with the figures from May 2004, while in the UK generally it rose.

London saw rental values achieving £396 per week compared to £392 in 2004, and Hamptons International's country offices saw average weekly rentals of £375, a marked increase from £319 in 2004. Market appraisals last month rose 12 per cent compared to the same time last year. but actual stock levels are lower.

Interest rates should fall, say agents

As the number of first-time buyers dwindles, the National Association of Estate Agents (NAEA) urges a rate cut. Peter Bolton King, chief executive of the NAEA, says, ‘It is widely reported that confidence in the economic future is at a low and that private investors are turning to commercial property over the residential market. We would therefore urge the monetary policy committee to seriously consider reducing interest rates in July in order to revive the housing market and the economy on the whole.’
The number of first-time buyers in the housing market during May shrunk by more than half that of the previous month, reports the National Association of Estate Agents (NAEA) today.
This disappointing news comes at a critical time of year for the housing market as the summer months usually set the tone for the rest of the year ahead, says Mr Bolton King. ‘If more first-time buyers are not encouraged onto the housing ladder it will be difficult to warm the housing market – and economy – up throughout the rest of the year.’
 
Confidence returning to the market

There has been a marked turnaround in confidence among house hunters over the prospects for the housing market, according to Propertyfinder’s May survey. Although 34 per cent of those in the market for a home now expect house prices to fall over the next 12 months, the majority (54 per cent) expect prices to rise.

The survey finds the market stabilising, with respondents now expecting prices to slip just 0.3 per cent over the next 12 months, compared to expectations of a sharp drop of 7.7 per cent in the previous month. It is true, however, that April’s confidence was hit by the ‘general election effect’, a regular feature of the housing market at election time.

Further evidence of stabilisation comes from comparing the views of buyers to those of sellers. Both groups maintained very similar views on the outlook for house prices until September 2004, at which point buyers became markedly more pessimistic than sellers. A widening gap between the two groups signified stalemate in the market as overly optimistic sellers consistently overestimated the health of the property market while buyers sat on their hands. The gap has begun to narrow again, which signals that the market can look forward to healthier levels of activity. Similarly, the discounts buyers expect and the prices sellers expect to get are more in line than they have been in recent months; sellers on average say they will entertain offers 4.4 per cent below the asking price, while buyers, who have consistently demanded greater discounts in recent months than sellers were prepared to accept, were making offers in May at an average of 4.6 per cent below the asking price, very much in line with sellers’ expectations. To put this in context, the gap of 0.2 per cent is now a mere £360 off the average house price.

Despite a cooling housing market, buying to let is still extremely popular, says Johnny Turner. He looks at new developments with investment potential.

Buy to Let – What to Buy and Where?

Waterloo and Southbank: comment

Tony George, from Frank Harris and Company’s Waterloo and Southbank office, comments that a large proportion of properties around Waterloo and the Southbank are being purchased by buy-to-let investors.

“Most properties in the area are purchased as pied-de-terres or buy-to-let investments. Waterloo and the Southbank have been highly popular in recent years as people have been getting a more reliable return on their property investments compared to the huge ups and downs of the stock market. While this may not still be the case in other areas of London, investors can still see the long-term benefits of purchasing a but-to-let property along the Southbank. While it is commonly recognised that riverside apartments are more likely to retain their value in a sluggish housing market, they also can command a higher rental return.”
 
Frank Harris and Company highlight that the majority of lets in the area are to corporate tenants, who prefer portered developments and the excellent riverside location. This also works well for investors as they can normally guarantee a longer rental contract through corporate contracts, and they can be assured of the quality of tenants within their properties.

The area around Waterloo and the Southbank is a highly popular area for buy to let investors for many reasons:

The majority of properties are in modern, portered blocks, and therefore do not need a high level of maintenance.
Waterloo offers excellent transport services - As well as the mainline National Rail services, the Jubilee, Bakerloo, and Central and District London underground stations also service Waterloo. The Waterloo and City Line also takes residents directly in to The City.
The riverside developments along the Southbank offer stunning views for residents, with local bars and restaurants offering a range of entertainments.”

The most popular buy to let properties in the area are one bedroom apartments, which range from 550 sq ft to 600 sq ft, and are priced from around £300,000 upwards.

Properties around Waterloo and Southbank are ideally located for those who like to walk to work in and around The City and Westminster. The West End and Covent Garden are also easily accessible on foot.

For more information about properties in Waterloo and the Southbank, contact Frank Harris and Company on Tel 020 7620 3400 or visit frankharris.co.uk.

Recycling has never been easier. Here we find out tips and sources of information on becoming a more environmentally friendly household
Recycling has rarely been more important than it is now. With environmental issues frequently grabbing the headlines and a raft of recycling initiatives recently launched, it's becoming easier all the time.

Over 50 per cent of household waste can be recycled or composted, but UK households currently only recycle up to 12 per cent. And with so many methods available to help you recycle your waste, there is little excuse for not doing your bit.
In fact, the solution to minimising your household waste and disposing of it in the right way is about more than just recycling. A now commonly used slogan is 'reduce, reuse, recycle', which suggests that there’s more to the process than simply taking your empties to the local bottle bank (although that's a good place to start!)

Reduce

Before you think about recycling your waste, think about how to reduce the amount of waste produced by your household in the first place. Avoid buying food and products which are heavily packaged – this simple step will avoid you being left with lots of empty packaging to dispose of!

In addition, you can buy products which come in refill packs, such as detergents and some foodstuffs, to help keep your rubbish to a minimum.

Reuse
Get more use out of some of your household items, instead of just throwing them away.

For example, reuse items such as plastic carrier bags. According to the recycle-more website, each person in the UK uses an average of 134 plastic bags each year. This figure could be slashed if we put more effort into keeping and reusing them.

Turn old clothes into rags for cleaning, use old newspaper to clear up after pets, use old glass jars as storage jars – with a little imagination you could do a lot to reduce the amount of waste generated by your home.

Recycle

There are plenty of opportunities for you to recycle. Most local councils now run recycling schemes, and will collect your recyclable waste together with your household rubbish. If you don't already benefit from a service like this, you should soon; the Household Waste Recycling Act 2003 requires local authorities in England to provide kerbside collections for their residents by 2010, so you're entitled to lobby your local council to offer recycling if they don't already do so.

Top recycling tips

The first step is to find out where your nearest recycling facilities are. As well as putting out your recyclables for collection, you can also do your bit by nipping down to the bottle and paper banks when necessary
If you have a garden, think about composting. It's a great way of recycling a lot of your kitchen waste and other natural materials. To get the most out of recycling you'll have to buy a composter, but this shouldn't break the bank and they're available from many DIY and household stores
Parents can consider using traditional terry-towelling nappies on their babies, instead of disposable ones, which generate a lot of waste. Don't worry about being squeamish – you can now buy disposable liners for them!

One of the trickiest aspects of recycling is finding out what can be recycled and what can't. If your weekly shopping contains an assortment of plastic bottles, glass jars, cardboard cartons and newspapers, you need to know what can be disposed of in the right way. The website recycle-more.co.uk contains a really useful list of the symbols you will usually find on household packaging materials. This will help to take the guesswork out of your recycling and will tell you whether a particular piece of packaging is recyclable, and if so, what you should do with it
As well as recycling your own household waste, make the effort to purchase products that are made from recycled materials. To find out more about what products are made from recycled goods, visit recycledproducts.org.uk

Put an end to receiving junk mail, which you'll probably end up throwing away. Under the Data Protection Act you are entitled to opt out of receiving junk mail through the post, and can do so by contacting the Mailing Preference Service. Find out more at mpsonline.org.uk
Consider buying a shredder to destroy any sensitive personal or financial documents that you are disposing of. Given the recent publicity around identity theft, it might pay to prevent your information falling into the wrong hands.
Mixed material packaging like drinks cartons can be harder to recycle than materials such as paper or glass – there is only one suitable facility in the UK – located in Fife, Scotland. You can send your drinks cartons there to be recycled but you have to pay the postage. More information can be found at drinkscartons.com.

Laura Quiggan casts some light on how to find the appropriate lighting for your home

Good lighting is essential for any home, not only to aid sight and security, but also as a simple and effective method of creating mood and atmosphere. But, faced with a choice of dimmers, downers, uppers, spots and clusters, you could be forgiven for feeling mystified. It is worth investing a little time and effort in seeking enlightenment.
Household lights should be chosen for their purpose, not just the way they look. Decide which kind of lighting suits each room in your home and consider the function of the room. Clear bright lights are practical for a working kitchen, but not for the more intimate atmosphere of the bedroom. Are there specific objects you want to highlight? Where will people sit? What overall mood do you want to create?
Light can come from the top, middle or bottom of a room, but make sure the overall effect is a welcoming glow and not a harsh glare. A well-lit room will have equal levels of light radiating from the floor and ceiling, with surrounding pockets of bright light contrasting with shadow to give depth and mood.
Understanding the variety of lights on the market and how they can be used to enhance your home helps to create the look you want to achieve.

Pendant lights

The most common type of fitting, comprising a bulb and shade hanging from a ceiling rose, which casts a circle of light downward.

Ceiling lights

These straightforward lights are mounted directly onto the ceiling in a closed unit. The lack of shade allows the beam to fill a room with a clear, even illumination. Ceiling lights are more commonly used for lighting kitchens and bathrooms where condensation and steam are likely to affect other fittings and shades.

Recessed ceiling lights

Fitted directly into a ceiling cavity to sit flush with the ceiling, giving an even illumination. These are particularly useful for rooms with low ceilings or for minimalist tastes where unobtrusive décor is required.

Wall and sconce lighting

Produces a soft outward glow that can be used in support of main illuminations. These lights are well suited to hallways and doorways, but can be used in groups to create higher levels of light.

Track lights

This versatile system consists of individual spotlights on a run. Track lighting is ideal for enhancing specific features by redirecting the beams, or for areas where support lighting is required. Small diameter track lighting can do more than highlight a painting – it can also serve to accent the perimeters of a room by helping to define spaces and create balance.

Fluorescent lights

Ceiling mounted fluorescent lights are activated by a starter mechanism. The bulb is a long glass tube containing mercury vapour, and these last up to eight times longer than conventional bulbs. Fluorescent lights have the advantage of giving off only a small amount of heat and are ideal for use above work surfaces in kitchens.

Light bulbs

To soften areas of lighting try varying your light bulb wattage, opacity and colour. Although initially more expensive than conventional bulbs, energy-efficient halogen and daylight bulbs have a longer life span and can save on bills in the long run. For lighting effects as dramatic as the price, search out individual bulb creations in colour and stained glass at trendy markets.

Up or down?

Downlighters and uplighters have become popular in the home and can be very effective in creating different moods. Downlighting with a solid conical shade will push the light out and down, allowing very little light to filter upwards. To enhance the illumination even more, use a shade with a white interior to reflect the light. Uplighting shines the light upwards onto the ceiling to create a soft light and a theatrical, inviting atmosphere. Small or redundant spaces between plants, furniture and the wall can be enhanced with uplighting to make the room appear larger.