Mortgage Strategy Awards

Mortgage Strategy Awards 2013

Best Conveyancing Service – 3rd Place

We are very pleased to announce that at the recent prestigious Mortgage Strategy Awards 2013 we took home 3^rd place for ‘Best Conveyancing Service’.

We are very thankful to all of the Estate Agents, Mortgage Brokers and Financial Advisors who kindly nominated us! The awards are judged by top industry professionals so it is an honour to receive such highly recognised credibility.

Clive Dickman, Head of Business Development said “Winning this award is the culmination of a lot of hard work by all our staff and is the result of us continuing to strive to always improve our conveyancing standards”.

This award is a result of our continued commitment and passion to excellent customer service and conveyancing, along with working with fellow industry professionals to achieve the best outcome. The housing market is a continuing competitive and challenging industry so we are glad to receive this award in reflection of our hard work.

We are very proud to be recognised as a top market leader in this industry. Being acknowledged for providing a high level of reliable and efficient conveyancing service, locally and also nationally, is something we are very grateful for.

Visit our website for more information or a conveyancing quote

Generation Living: Could you live with your in-laws?

Generation Living: Could you live with your in-laws?

In our current economic climate our older relatives generally benefited from the housing boom. Many parents and grandparents have made large amounts of money in property thanks to the steep incline in property prices over the years. On the flipside this is currently an issue among the present generation. Unable to obtain the initial finances for a deposit to get onto the property ladder or to afford moving into a larger home to start a family, with housing prices rising and the average salary generally not increasing, getting onto that first rung is proving difficult for the younger generation.

The perfect family home life

However, living with extended family can solve a lot of these problems and has its benefits at each level. In some cases three to four generations can live together in perfect harmony. With parents and grandparents putting their money together a new level of luxury becomes available. Large houses with lovely gardens, swimming pools, paddocks or a games room now become a reality. The children are brought up in a picturesque family home around their grandparents, the parents benefit from the grandparents being around for child care (saving costs) and the grandparents get to see their grandchildren frequently and also get cared for in their old age in return.

According to Managing Director of Stacks Property Search the number of people looking for properties with a ‘granny annexe’ or an outhouse is increasing by 50% each year. As long as the house is large enough, or has a separate wing or annexe generation living can work.

Could it fuel family feuds?

On the other hand, combined generation living can cause a number of issues too. It can lead to tense feuds between family members and issues with who does what around the house. The property may not be large enough to accompany everyone’s ‘space’ requirements. It needs to be clear whose space is whose and which areas are exclusive and shouldn’t be intruded. Ideally the property would have an annexe or separate wing and also separate entrances. Personally I think you need to be a close family for this to have a chance to work.

In the past generation shared living was more common, also in many other countries it is seen as ‘the norm’. Combining resources between generations can be very beneficial on many levels however it is definitely something which needs a lot of thinking before jumping on board we are not all cut out for it.

Would you cope, living with your in-laws or parents?  I'm interested in any comments from families who have done this and how it all turned out?

The Waitrose Effect

The Waitrose Effect

Would a Waitrose in the vicinity of a property sway your decision in buying a home?

Savills have released recent research which showed having a Waitrose nearby increased property prices in the area. There are two ways to look at this, firstly people want to live close to a Waitrose or secondly areas which Waitrose locate are where property prices are increasing.

In London the ‘Waitrose Effect’ shows a significant difference. There is a 50% increase in property prices in areas with a Waitrose, compared with areas that do not have a Waitrose. This difference is not as drastic in other areas but still apparent.

The outcome of this research was that the typical price of a property with a Waitrose nearby was 25% higher than if there was no Waitrose. Although the answer is not determined by the increase being due to a Waitrose, there sure is a definite trend in the relationship. However it does seem bizarre that the arrival of a supermarket should have this effect on property prices.

Waitrose is known for its higher end groceries and perhaps by placing a branch in a particular area represents the area as being socially approved and an aspirational area to live in. There is always the argument of which came first however, was the area upmarket and attracted a Waitrose branch or did Waitrose place a branch in an area and this lead to a positive knock on effect on the prices of property.

What’s your opinion? Would you pay a little more to live somewhere you had a nice deli selection?

Help to Buy Scheme

Help to Buy Scheme

The new government Help to Buy Scheme was launched in April 2013 as a result of the Budget 2013. As always there are mixed opinions regarding whether the scheme will benefit the UK property market or not. In my opinion anything which makes homes more affordable and enables people to get onto/move up the property ladder is a good thing in today’s market, as long as it doesn’t lead people into money difficulty in the long term.

How does it work and who can qualify?

To qualify for the Help to Buy Scheme there is currently no cap on income and the scheme is available on properties up to the value of £600,000. Unlike many of the other schemes aimed at getting the property market moving Help to Buy is open to first time buyers AND existing property owners. As the buyer you will be required to raise a 5% deposit and the government will then provide you with an added 20% equity loan resulting in you needing a 75% mortgage, this will enable you to achieve lower (affordable) monthly payments and a much better interest rate. The equity loan provided by the government is interest free for the first 5 years and then incurs interest of 1.75% by year 6, which rises annually by 1%. The loan can be repaid at any time or upon sale of the property.

Currently the Help to Buy Scheme is only available on new build properties; however as of January 2014 the scheme will be available on new build and existing properties, making it available to the vast majority of the property market. It has been queried that this will just fuel the rich enabling them to buy second homes and more buy to let properties, however the scheme is only available if the property is your main home and it is not available on buy to let’s or second homes, eliminating people from abusing the scheme.

 

Help to Buy Conveyancing Services

As professional property solicitors we are well experienced in new government property schemes and will be able to deal with your conveyancing requirements efficiently and effectively. We have dealt with many similar transactions such as HomeBuy, FirstBuy, Shared Ownership and Shared Equity. We can offer you expert advice on the services you require for your Help to Buy transaction. If you want to read more about the Help to Buy scheme visit our dedicated Help to Buy website: www.helptobuy.me here you can find out more information, obtain a conveyancing quote and use our Help to Buy calculator to find out what you can afford.

Our new blog!

Hello, we are launching a brand new exciting blog for iconvey. If you are interested in anything property or conveyancing then our blog is for you. We will write regular interesting posts about conveyancing and the latest property news. From working in the property industry it has become apparent to me how many property addicts there are out there, so hopefully you will find our blog an addictive read.

We are one of the UK’s top conveyancing firms, as recently highlighted in the prestigious 2013 Mortgage Strategy Awards where we won 3^rd place for ‘Best Conveyancing Service’. We are also proud to say we are accredited under the Law Society’s ‘Quality Conveyancing Scheme’ hopefully this proves to you we are dedicated and experts when it comes to conveyancing.

At iconvey we specialise in nationwide online conveyancing and are very passionate about what we do. As online conveyancing solicitors we strive to give you reassurance and that personal touch but with a competitive price. We cover all types of conveyancing from Buying, Selling, Remortgage, Commercial and Equity Release.

If you are thinking about moving home soon then why not see for yourself how competitive our quotes are. You can get easily get an online quote from our website www.iconvey.co.uk

Myself and my colleague (Martin Lake) will be writing a range of engaging and informative posts to keep you up-to-date and in the know with all things property and conveyancing. Follow, bookmark and share any of our posts you find interesting. We welcome all your comments and feedback. Why not let us know what you want to see discussed on our blog?


Watch this space for our first informative conveyancing post!...