The recent French election which saw the left wing Francois Hollande voted into power, a man who opposes anti-austerity measures and embraces a strategy of far reaching growth, has left French professionals considering relocating to Britain.

Hollande, who is famous for his outspoken anti-wealth comments and has said that he dislikes the rich, has plans to impose a top rate tax of 25% on those with an income of over €1 million, and this has understandably annoyed the wealthy of France.

“London is an international finance hub in close proximity to France, which makes it a natural choice for French professionals and entrepreneurs rattled by Hollande’s hostile attitude towards the wealthy,” says Elite Property Search director Tim Sharp. “With the French already well established in Belgravia and South Kensington, property search agents are receiving increasing numbers of enquiries from French clients.

“This could prove beneficial to London’s already buoyant prime property market. “It might also prompt investors to continue to look beyond London to the country for their property needs and the relative value that this offers.”

London property could also see a knock-on effect from the political gridlock in Greece, where radical left-winger Alexis Tsipras is likely to be elected Prime Minister if fresh elections are called. Tsipras believes that redistribution of wealth – not “savage” austerity measures – will solve his country’s chronic economic problems.

According to the Royal Institute of Chartered Surveyors, London property prices rose in April while prices elsewhere in the UK fell. But the short-term outlook was uncertain after the UK dipped into recession for a second time, according to Mr Sharp.

“Buyers exercise caution after negative economic news and might defer their search, but typically once the dust settles they will go back to buying,” he said. “It is hard to see the currently bullish London market slowing down, although price is key.

“Property price increases that occurred up to 2007 are now unwinding and sellers’ expectations are being realigned to more realistic levels. Buyers need to get the price right and not be too bullish and a respected property search agent can help them do this. Most sellers don’t need to sell and won’t give their home away, so offers must be realistic and reasonable.”

Elite Property Search holds a database of pre-screened buyers with more than £1 million to spend as well as a large portfolio of properties not officially on the market.

“For buyers we can identify and make contact with property owners whose homes meets their criteria. This gives buyers unique access to properties not yet officially on the market,” says Elite director Max Storey.

“For sellers we are able to discretely promote their property while preserving its anonymity and ensuring a longer ‘shelf life’,” he says.

“Although the UK is officially experiencing a double-dip recession, proactive buyers and sellers who use property search services like Elite should see the current economic circumstances an opportunity to buy or sell.”

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One area which is faring particularly well thanks to extensive regeneration is Hackney, now deemed to be one of London’s newest up-and-coming areas. In fact, so dramatic has its turnaround been that the average house price in Hackney is some £21,000 more than the London average, standing at just over £360,000.

The area benefits from increasingly diverse housing stock as large Georgian and Victorian terrace properties are joined by new builds, warehouse conversions and period restorations. It’s this variety which makes the area so appealing to young people, professionals and families.

Olympic Games aside, Hackney is no stranger to regeneration. Historically, the borough once flourished during the Tudor period, when esteemed figures had their houses in the surrounding area (including King Henry VIII’s palace!) and remained popular until the end of the Georgian era. It was during the Victorian era that the area became urbanised with the introduction of railways, trams and factories, while extensive post-war redevelopment replaced much of the housing stock, barring the Georgian and Victorian housing which has risen in popularity once again.

With 62 parks – 13 with Green Flag status – Hackney is also inner London’s ‘greenest borough’. Its biggest and most famous park is Hackney Marshes which forms part of the Olympics site and is considered to be the spiritual home of Sunday League football with over 70 matches played every week. Transport links to and from Hackney has also seen a vast improvement thanks to the new East London extension line, linking parts of the borough with the rest of the Underground network.

Daniel Chapman works for Stirling Ackroyd, an independent firm of East London estate agents offering specialist advice on all aspects of both commercial and residential property.

He commented that, “latest statistics show that making a purchase in Hackney could potentially turn into a great investment. Where the rest of the country and parts of London have seen prices plummet; houses in Hackney are now 12.6% more expensive than they were this time last year which is the biggest rise of any London borough, beating even City of Westminster (+11.2%). This upward trend is expected to continue as residents, businesses and tourists feed off the success (fingers crossed!) of the Olympics.”

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Much of the increase has been seen in the South and London however, which is an area that is typically very expensive. The price of homes increased an average of 0.1 percent across Wales and England last month according to figures that have been released by the Hometrack property analysis company.

London was the area of the country which saw the greatest increase in prices this month with an increase of around 0.3 percent. Prices remained largely the same in the Midlands and unfortunately fell and Humberside in Yorkshire.

It is expected that these rises in the price of property are going to start to flatten out in the coming months as the confidence of buyers is going to be affected by the economy. Figures that were released last week by the Bank of England have confirmed that the UK has entered a second recession.

Despite this news, the demand from buyers has been strong and registrations have increased by around 25 percent in the last three months. This is largely due to an additional boost to the market which usually occurs in the spring.

However, the market was largely being supported by a reduction in the stamp duty which just finished last month. It is thought that this ending to the stamp duty relief is going to cause the market to fall in the coming months. Research director from Hometrack commented, “Buyers are still afraid of the state of the market and the Eurozone could have an impact in the coming months.”

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Newbuy scheme aims to help first time buyers onto the property ladder

NewBuy is a scheme that has recently been launched by the government in order to encourage new people onto the housing ladder.

One of the main problems about trying to get people to buy houses is that the deposits on a mortgage are very high. For this reason, the scheme has been introduced and it is going to mean mortgages are available for a deposit as little as five percent of the total value of the property being purchased.

Builders in the UK are being encouraged by the government to sign on for the scheme and it is hoped that this is going to encourage people to buy a house, if it was something that they previously were not able to afford. These mortgages are going to be offered through some of the main mortgage companies in the country including Nationwide, NatWest, Halifax and Barclays. These are promotional mortgages that are only going to be available to people who qualify.

The marketing director of Higgins Homes is Jeremy Marcus and he has recently stated, “This is a great government initiative that is going to allow people to get on the property ladder. It is very difficult to get a mortgage now, especially if you are a first-time buyer and the scheme tackles this enormous problem.”

“We are also thrilled to be considered for the scheme. This association is opening up our doors to a much wider client base and conversely, providing house hunters with much more variety of choice. It really is great for the UK property industry.”

NewBuy is available in England on all the properties offered by approved house builders participating in the scheme, up to and including a sale price of £500,000. Applicants will need to meet the normal mortgage assessment criteria required by the participating lenders, as well as a number of other criteria.*

Once a buyer has found a qualifying home from a participating builder, they should speak to an independent financial advisor who should assess their mortgage requirements and advise on the most appropriate product for each individual. Alternatively, buyers can speak directly to a preferred lender participating in the scheme.

If eligible for the scheme, buyers should apply for the relevant mortgage, receive a confirmed offer and reserve their new home. They are then well on their way to becoming a proud home owner.

*The NewBuy criteria include the following:

Available to UK citizens and those with a right to remain indefinitely in the country

Covers full home ownership only and is not available for shared equity or shared ownership

Available for the purchase of a primary home only, not second homes, buy-to-let or investment purchases

Only applies to capital repayment mortgages, not interest-only mortgages

Applicants must not be receiving help with the deposit from a local authority or public body

Higgins Homes will have a number of developments eligible within the NewBuy scheme, including The Old Hospital in Maidstone, Ludus in Saffron Walden, Royal Jersey Place in Redbridge and Morello Mews, Chelmsford.

For further information please contact Higgins Homes on telephone 020 8508 5555 or visit www.higginshomes.co.uk or https://www.newbuy.org.uk/.

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It is something that was launched last year and since that time it has been a very great success. The company recently released a statement showing how successful the scheme had been and that people were taking great advantage of it in order to get on the property ladder.

It has been shown that there was a very high level of demand for the account which only required a £200 minimum deposit. Impressively in the last year nearly 40 percent of people who decided to open the account did so on a joint basis which increases the possibility of getting enough money together for a home deposit.

The figures also showed that those with this type of account were also more likely to save a greater amount of money than ordinary savings, or even joint savings accounts. For those buyers who take out this type of account with the bank, they will also be entitled to a competitive mortgage which offers a 95 percent rate allowing people to purchase a home without having to put down a large deposit.

This sort of mortgage charges an interest rate of just over six percent which is a very good initial rate. After that the repayment rate switches to a variable rate which can fluctuate. In order to arrange this mortgage there is also a £600 fee but this also includes evaluation that the bank will conduct on the home.

The retail director of the bank has commented, “We launched this scheme to help people get onto the housing ladder and we are very pleased to see that it has been so successful in doing so.”

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Boiler services in the summer ensure working boilers for the winter

In the summer heating engineers tend to charge less for their services as there is generally less demand. Therefore, it is sensible to do any repairs to your boiler in the summer months, even though you might not have the immediate motivation to do it because of the heat.

It is often the case that when winter arrives, people with older, or malfunctioning boilers, start to see them fail as they are forced to work much harder. If you think this could be the case with your boiler, it makes sense to have the boiler serviced in the summer so that in the winter it is fully functional. This will also save you a significant amount of money and make sure that you aren’t left in the cold.

Yet this is the time when heating engineers are rushed off their feet – dealing with breakdowns and repairs – so getting one to come out “instantly” while you shiver with cold is not always possible and it can take days before they can fit you in. For this reason the Heating Helpline (http://www.heatinghelpline.org.uk) – the home heating advice service operated by B&ES (the Building & Engineering Services Association) – advises homeowners to get their boilers serviced in the summer.

Blane Judd, Chief Executive of B&ES advises, “Heating engineers are much less busy during the summer months, so not only is it a good time to call in a professional heating engineer but you can also normally expect to pay around 20% less for a boiler service.

“And it’s worth bearing in mind that a regularly serviced boiler is not only far less prone to breakdown but it will also be much more efficient; with no sign that our record high energy prices will come down in the short term it means a well maintained boiler can deliver important energy savings.

“But even more important than reducing energy consumption are the safety implications of a boiler that has not been serviced, or at least checked, by a qualified engineer for some time – around 50 people in the UK still needlessly die every year from preventable carbon monoxide poisoning caused by defective domestic gas appliances and poorly ventilated systems.

“So why wait until the middle of winter? Visit the Heating Helpline website to find a reputable engineer and arrange to have your boiler and heating system serviced today”.

The Heating Helpline provides consumers with free, impartial advice on every aspect of home heating. On the website homeowners can put in their postcode and it will produce a list of reputable, Gas Safe Registered engineers in their chosen area.

Visit the Heating Helpline website at http://www.heatinghelpline.org.uk or call 0800 810 8303.

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Have the bathroom of your dreams with the Simply Black Collection

Imperial Bathrooms are a manufacturer of products for bathrooms based in the UK and they are known for creating luxury bathrooms targeted towards the higher end of the market.

They’ve recently launched a new collection called the Simply Black Collection. This is a range of sanitary items that has been crafted in ceramic and have a stunning black glaze.

These bathroom pieces are really a statement of style and will work well with traditional as well as contemporary designs and schemes. This range is a perfect choice for designers who are looking to bring a little bit of individuality to the bathrooms that they are designing.

The collection is made from three of the most acclaimed designs by the company and there are a wide range of options available in the designs. It is possible for people to create a bespoke bathroom design from the items in the collection which will allow for a truly customised bathroom.

The Collection boasts a range of classic and timeless basins that are available in large, small and cloakroom options, and these may be combined with a pedestal or one of the company’s stunning black or chrome basin stands to create an elegant showpiece. Complementary brassware provides the perfect finishing touch.

Also available are a range of bidets and pan and cisterns – available in close coupled, low, high level and wall hung options – complete with co-ordinating seat and lever. A luxurious white roll-top cast-iron bath from the Imperial range provides the ultimate contrast to this striking black sanitaryware.

Covering classic and timeless design styles, Imperial Bathrooms’ products are manufactured by skilled specialists and are hand-finished to exacting standards that set the benchmark for quality throughout the bathroom industry.

For further information on Imperial Bathrooms’ product range visit www.imperial-bathrooms.com or contact their customer services team on 0870 60 61 62 3 for a copy of the latest Design Guide.

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Letting your property online has never been easier with I Am The Agent

It is thought that private landlords might be missing out on around £10,000 of unclaimed allowances because they have not been filing their taxes properly. The tax firm, Bell Strategies, have recently estimated that around 9 in every 10 landlords are not aware that they can reclaim a certain part of their tax paid.

This means that landlords face additional pressure when they are renting a private property. A Capital Allowance is something that allows a landlord to claim about 10 percent of the purchase price back from the revenue office once they have let the property as part of a rebate scheme. These are designed to create a safety net for landlords when they first invest in property.

Bell Strategies explain that, “Capital Allowances enable landlords to claim for significant items, such as heating and cooling systems, emergency lighting, and security systems. These items are often treated as part of the building costs, but with the correct approach they may all be subject to tax relief.”

Capital Allowances are available across a number of categories of asset including plant and machinery, business premises renovation and industrial buildings. Significantly, monies spent on or after 11 May 2011 to convert space above residential buildings (i.e. shops) into residential property (i.e. flats or apartments) comes under a 100% Capital Allowances threshold provided certain conditions are met. These include a limit on the amount of rent charged to the tenant and the period of the lease offered.

The ‘Flat Conversion Allowance’ for Flats Over Shops (FOTS) is only available until April 2013 but means the property landlord can claim a rebate for conversion costs, renovation costs, associated repair costs and the costs of providing access.

Capital Allowances must be claimed via an Income Tax Return, making it advisable to enlist the services of a tax professional before submitting any request to HMRC.

Rebecca Peach, managing director of online letting agency I Am The Agent, which provides help and advice for private landlords along with fixed fee packages to advertise a property online says, “Private landlords and buy to let investors are strongly encouraged to sit down with their tax planner and make sure that they are claiming the Capital Allowances available to them in order to really make the most of any investment property in the portfolio.

Capital Allowances can offer an excellent way to finance conversions and provide a financial boost for landlords new to investment property. We encourage all of our landlords to check that they aren’t in the 90% missing out on the £10,000 rebate.”To find out more about I Am The Agent and for up to date news and advice for private landlords, visit http://www.iamtheagent.com

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A recent survey has been conducted through a collaboration between YouGov and the property services group, Countrywide. The survey involved over 6000 adults from the UK including homeowners, rental tenants, and those living rent-free.

The research looked at why people were not moving home and over 60 percent of them claimed that they were happy with their current option. Around one in every five people said that they could not move because they were unable to afford the initial deposit. A further 16 percent said that they could not afford to pay for a mortgage and others said that they were concerned about their job security and the fees associated with moving house.

What is quite surprising about the survey is that it was not market uncertainty which was preventing most people from moving. Only about five percent of people who responded to the survey said that they were not moving house because they were unsure of the housing market’s future direction.

This survey confirms that not being able to afford a deposit is one of the primary reasons why people are not moving house, however it also highlights that there are other factors in the equation, such as the lack of desire to move house. Financial issues are usually considered to be the main reason why people do not move house, and this is something that the survey suggested was true.

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