UK Property Market, Where Next?

The UK economy is fundamentally entwined with its financial and property market. Revolving like the proverbial cyclical wheel of fortune, always hitting high peaks of growth and downturns in equal measures.

It wasn't long ago that the UK media houses decided it was time again to revisit the property market. This time, the cheerful news was of visible green shoots. Signs that was indicative of slow but measured economic activity.

And although experts within the property sector urged for guarded caution, there's no doubt that any visible signs of economic activity was good news. Good enough to inject confidence on other sectors of the economic landscape.

But the question that needed to be answered is; who really knows where the market is heading in the next 6 months, or in 1 or 2 years time?

And going with generic market opinion, there will never be one-fits all answer to this conundrum, depending on whom you speak with.

One can however assume a logical conclusion based on analytical and statistical data or applicable trend, to work out possible shifts in the market, subject to availability of funds.

It is no brainer therefore to suggest that the actual weight of supply and demand greatly influences not only the property market, but overall consumer psychology.

Since the recession peaked in 2008, there have been staggering job loses across the country as corporate and small businesses struggled to obtain sustainable credit.

However, in such times of stringent economic activity, opportunities await the discerning investor with unrestricted funds than the average Joe public.

Whenever there is an increased flow of distressed properties into the common market, either through auctions or by private treaty, investors potentially make long-term gains.

For those in possession of the elusive 15-30% deposit amount required by lenders in austere times, the market is ripe for rich pickings.

The reverse however is true for those who desperately want to get onto the property ladder but lack the required funding to soften the steep climb. Their desires unfortunately remain muted on wish lists for periods uncertain.

However, some "property experts" and economics analysts have cast shadows of uncertainty over the validity of the appearance of any green shoots. Hence, dampening the possible circumstantial ripple effect this may have on the overall picture of the property sector and indeed the broader economy as year 2009 leaps into 2010.

Liam Bailey, economics analyst for Knight Frank was quoted in online estate agent today newsletter of October 14, 2009 with comments like, "... it would be wrong to expect a continuation of the current rapid recovery in the housing market. The economy is not in a position to permit this in the short term. Similarly, it would be wrong to expect carnage. Real demand is strong, supply in the wider market and the new-build sector is very low and we are unlikely to see a rapid shift away from a low interest rate environment."

Knight Frank went further to forecast aggregate growth for central London in the five years to 2014 of 38%, compared with 19% for the UK mainstream market, meaning more hikes in property prices.

Equally, Zoopla, the online property-listing portal, which recently published what it called "quarterly survey of housing market sentiment," stated that four out of five homeowners expect property values to rise over the next six months.

The problem with Zoopla's survey is that it was based solely on "sheer sentiment".

Sentiments are feelings, which add no value whatsoever, nor play any tangible role of influencing which direction the property market goes.

In general, the problem with forecast and survey figures are the fact that they are just what they suggest; speculative information based on subjective trend or analysis.

However, in the event that such assumed condition fails, the speculative analysis falls apart like pack of cards.

The fact of the matter is this: Nobody really knows for sure what action the average homeowner is likely to take in a future that is hugely uncertain. Nobody can guarantee what factors may necessarily influence majority of homeowners to seriously consider selling their home.

Historical factors that fuel or stall the property market at any given time goes back to the earlier principle of elasticity of supply and demand.

Since there will be fewer individuals within the general population who are more likely to earn six figure salaries, plus extras in bonuses later this year or early 2010, the chances that they will all invest in properties within a particular location is less plausible.

Moreover, even if by any stroke of chance they all did, the desired effect on the general population would hardly be life changing.

It may also be worthy to note that a slight upward shift in property sales within one location, may not generally affect the overall picture of another location.

The availability of attractive mortgage products and competitiveness amongst the lending sector of the economy is the only practical solution to ignite any major lift-off.

This can only happen when the lending institutions loosen up their tightly held purse strings both on personal and commercial borrowings.

It may just happen before we know it. Let us all sincerely hope it would be sooner rather than later.

6 Ways to Add Value to Your Investment Property

Whether you're looking to sell or upgrade, there are a few sure-fire ways to add value to your investment property with some clever cosmetics. Here are our best tips:

A fresh lick of paint

One of the quickest and easiest ways to give your property a new look and coordinated interior or exterior is a fresh coat of paint. Painting can be relatively inexpensive, whether you decide to do it yourself or hire professionals. Look out for this season's new colour forecast's for the latest trends.

Update your investment property fittings

One of the first things buyers or renters tend to look at are the doors and cupboards, lights, locks, curtains and blinds. Make sure these fittings are all functional, and consider upgrading any old or mismatched fittings.

Kitchen refresh

Redoing an entire kitchen can be expensive but the kitchen is one of the most important rooms in an investment property. Many buyers or renters prefer an open-style kitchen so if you have a traditional closed-room kitchen you may want to consider removing a wall. If you're not looking to make structural changes, you can replace benchtops, sinks or even cupboard fittings as a quick, inexpensive way to spruce up the kitchen.

Buff the bathroom

Everyone likes a sparkling bathroom, so pay close attention to cracked tiles, worn or mouldy seals and leaking taps. Like kitchens, bathrooms should also be stylish, modern and functional. Replacing broken towel racks or dripping shower heads can make a big difference, while new mirrors and lighting can be a great finishing touch to make the bathroom feel more spacious.

Add a bedroom

The three major factors that drive a property's price are the location, land size and number of bedrooms. While you may not be able to change the first two, adding a bedroom can make a significant change in the value of the property. Make sure you speak with an architect for this sort of renovation and don't forget you'll need council approval for your plans.

The great outdoors

Australians love the outdoors, a real attraction for buyers or renters is space where they can entertain, just by simply turning a small balcony area into an outdoor entertaining area with a barbecue and herb garden can add value, there are endless possibilities for your extra outdoor space.

Before you start any investment property renovations, think about your budget. 

Real Estate Investment Tools

Real estate has emerged as one of the most favourable sectors of investment because of its high ROI (Return on Investment). However, investing in real estate is more than finding a home for oneself and requires a clear understanding of possible future trends and expected ROI. To aid in this understanding, many have adopted a scientific approach to real estate investment to go along with evidence-based investment sector tools. The purpose of such tools is to investigate the type and levels of risk and to measure ways to overcome the risks. The following approaches to using real estate investment tools are said to be effective and outcome oriented:

Basic Rental Properties

This tool is said to be as old as the tradition of landownership. The basic rental properties tool includes the commercial process of buying a property and renting it out. With this investment tool, landowners are responsible for paying the mortgages, taxes and any other liability on the property. In order to meet such expenses, a landowner must charge adequate rent to tenants in order to increase the margin for profit and subsequent ROI for their property. Basic rental properties are one of the most famous investment tools of real estate, yet the tool suffers from the limitation of low ROI as adequate time is needed to increase the value of the property.

Investment Groups

Real Estate Investment Groups have gained popularity due to their mechanism of low risks and high return. These groups work as a mutual fund for rental properties and allow investors to get the benefits of real estate investment without the hassle of landownership. This tool enables investment through real estate investment groups, which disseminates the responsibility of buying, building and maintaining the property among the group. Unfortunately, an investor has to pay commissions to the group against the benefits of rental properties provided by the group.

Trading

This is an aggressive tool for extracting benefits from an investment, yet it is quite different from buy-and-rent property. The basic purpose of this tool is to gain as much profit as possible on a property within a short period of time. The time duration for this investment tool usually falls between four to six months. After four to six months, the investors try to sell the estate for maximum profit. This type of trading is also known as filling, which is referring to the commercial process of the buying and selling of popular or undervalued property.

Purchasing Investment Property - 10 Things to Consider Before Diving Into Real Estate Investment

When considering including real estate as part of your investment portfolio, there are a lot of factors you will need to consider. It is not just a matter of deciding on a property to invest in, because you will also need to answer a few questions about your investment. Not every real estate investment is the same, and not every investor is the same. Here are ten things to consider before you start investing in real estate.

First, are you ready to invest in real estate? You need to be both mentally ready and financially set. Remember - if your property is between renters, you still have loan payments you need to make and other obligations to uphold. You may wish to consult with your investment advisor about your current portfolio and how much you can afford to carry until you begin to see a real return on investment.

Next, set a plan. It will help map out your strategy and define for you what your goal is in terms of investing. Your plan will help guide you should you want to make changes along the way. Your plan can also help you understand all of the expenses you will incur along the way, including utility bills, fees for your experts, times when no one is renting from you, and maintenance and repair costs.

Then, decide what kind of property you want to invest in. You could invest in rental properties, or you could buy homes with the intent to fix them up and resell them, a process called flipping. Then there are commercial properties you could invest in, like retail buildings or multi-unit residential units.

You will definitely need to have a solid base for financing the properties you choose. If you have the cash to make your initial investment, you can do a lot more with purchasing homes quickly and saving on the mortgage amount every month. Remember that though interest rates are low now, there is no guarantee against future increases, so should you choose to finance, make sure you lock in a low rate with a fixed rate loan.

Consider the current vacancy rates in the area where you want to buy your investment property. A lot of vacancies near the house you choose do not bode well for you to be the successful one to find renters.

Sixth, decide who will do the property management. If you intend to live on-site, you can certainly take on this task yourself. But, if you are not going to live on-site, or you don't feel confident in doing the property management piece yourself, by all means hire a professional property manager or sign a contract with a PM company.

When you are ready to buy, it can be a help to find a real estate agent who specializes in investment properties. They will be more knowledgeable about finding you properties that will suit your unique needs.

Ensure that before you buy you get a complete home inspection done so any minor repairs can be taken care of and any major repairs can be steered clear of. Solving minor repairs may mean that you can add value to the rent.

Remember that being a real estate investor, particularly if you go the landlord route, is a business. You will need to keep financial records, comply with regulations, and file legal documents. Having a team around you who can help you with these tasks will be necessary.

Lastly, what is your exit plan? Though you might be in real estate for the long run, eventually you need to sell the property. If the economy drops again, you won't be able to sell it easily or if you do, it may even be for a loss. Having a plan for what you will do for each property will help ease the stress of a softening of the economy.

Who Is A "Rogue or Dubious" Estate or Lettings Agent?

Each association hold to the claim that their primary objectives are usually to support and streamline members' professional competence through an associated code of conduct, newsletters and training opportunities.

This principle is laudable. But if the mantra behind one association and another is more or less similar, then there would be cohesion to deliver the best service for its membership. There wouldn't be the need for splinter groups. Would there?

Let's now explore a little further what the words "rogue", "dubious" really mean.

Common English definition describes "rogue" as a dishonest or unprincipled person. This accommodates any act construed as insincere, unethical and not playing within set rules of engagement by any person or group.

Dubious, on the other hand is a qualifying adjective for any act that would cause doubt; of doubtful quality or propriety; questionable!

Simply put, both words suggest dodgy, deceitful behavioural act either by commission or intent.

With a broad definition as this, who then is a rouge or dubious agent? And what qualifies a safe agent?

There is none more suitable candidate to provide such unbiased appraisal than the last client who actually used the service on offer.

Every client deserves a reasonable level of good service. But since there is no such thing as a definitive perfect service, someone somewhere would always have a rant and a moan, even if it's only for the heck of it. That's human behaviour!

Then again, there are very bad services around. So to try and convince a client who strongly believes that they have been poorly served by an agent would be like asking the proverbial mountain to move to the left.

Justified or prejudiced, each client reserves the right to have an opinion of the service they received, as long as it is fair and does not cross the mudslinging slander/libel line. However, mere perception is not proof enough. Why? Unless you have used a service, your opinion could only be based on third party information, not your personal experience.

Service in this context is reminiscent to having agreed with applicable terms and conditions of that service, the subsequent signing of a binding contract and accepting keys for possession at check-in. To phone an agent for the purpose of comparing service charges would therefore not count as a fulfilled service. It's only a conduit for information gathering.

If then you have never used a particular agent's service, how would you determine whether they're the best or rubbish in what they do? Are all service levels the same across estate/letting agencies? Absolutely not!

Same goes for every other commercial business model, whether it's a Doctors' surgery, or a fish mongers. You can only make like-for-like comparisons in order to obtain a fair conclusion.

Anyone with some sort of reasoning and intent could presently set up an estate or letting agency and consequently make success of the business. Similarly, any one could set up a used car lot. They don't have to gain any 'superior' qualification to make a success of that business model either.

Reasoning, in this context is the ability to interpret the right thing, as opposed to that which is not right. Intent is the ideal to make a profit, possibly provide employment and potentially enjoy the eventual benefits which success brings.

So why do property agents have so much head battering in the public domain as 'rogues with dubious intent,' while the very important role they play is genuinely to strive to bridge and more often than not, hasten the process of providing essential accommodation in a professional manner for those who need it, and for a service fee?

There is currently no legislation determining minimum entry level qualification as base requirement to be identified as a scrupulous estate/letting agent, or to set one up. There is none for the motor trade either. Should there be one? Most agents who have been through any committed level of study and written examination would drum its benefits. Reason being that such dedicated study affords invaluable depth of knowledge that is essential to stay at par with the ever changing regulations covering the UK housing act. Currently it looks like a mine-field.

The onus therefore rests with the industry's Mr Bigs to initiate a collective framework necessary to formulate and implement industry accepted minimum entry levels.

Currently, associations like the RICS (Royal institution of chartered surveyors,) National Association of Estate Agents (NAEA), Association of Residential Letting Agents (ARLA - wrapped up under the banner of National Federation of Property Professionals - NFOPP), UK Association of Letting Agents (UKALA), The Guild of Property Professionals (TGP), National Approved Letting Scheme (NALS), Association of British Property Professionals (ABPP), provide some sort of leadership initiatives on matters concerning the industry.

Membership is not cheap though. What really is being paid for in disguise is this 'great opportunity' to use affiliation branded stickers as identification marks of participation on shop-fronts, printed materials or websites. What is being missed but equally important is the fact that registration with the property ombudsman (TPO) and adhering to its code of conduct is even a better option. Where there's a dispute, a contesting client tends to feel more confident bringing matters to a head with an independent redress scheme than to a member only association.

The fact that some associations appear to be tougher in executing the principles of their applicable code of conduct, bottom-line is - most are in it to make a profit. Unfortunately, profits are not ploughed back necessarily to support the general membership.

Die hard members would affirm, even swear to the beneficial sentiment what joining one association or another has brought to their balance sheet. Others may tell of significant increase in their portfolio or landlord/vendor clients. However, based only on the simple matter of joining a pressure group? It would be difficult to prove.

Association membership has its place in the wider scheme of things. It serves a purpose for people wishing to belong to a group. It may also be a good place for networking and passage of industry news, encourage structured training opportunities and maybe more.

What it doesn't do is; stop the agent with dishonest intent to defraud, regardless of how many membership stickers they display on shop windows. It all comes down primarily to that simple matter of honesty, fair play and decency. All things being equal, (they never usually are) nobody really needs the whip of a certain code of conduct hanging over them to do the right thing. If you ever find yourself at the point where you must, it would be worth reappraising your intentions.

The question that bothers me though is this; if the common goal is geared toward the benefit of their members, especially for the small independents, why are there so many property associations? And how is it that over the last twenty-five years or more, none of them have been able to come together as a strong force to combat the rip-off advertising portals? Surely this is what most agents would want. Why have agents continually paid high prices to keep property portals afloat? Agents keep portals in business. Without agents feeding portals, portals have no business. That's fact. With the money wasted by those running NFOPP, shame Property live didn't work for its members.

Regardless of spurious claims of influencing government policies on industry specific matters, the property sector with its numerous pressure groups, time and again have failed to make any significant gains either by standing up against the monopolistic pride of portals or influence any policy changes to legislation that may allow those who operate within the private rental sector boot out defaulting tenants without costing the landlord a fortune in lost revenue while the lengthy judicial process slowly grinds to obtain possession.

Why is it that all the associations covering lettings have failed to stem the tide where recalcitrant tenants are being encouraged in certain quarters to remain in properties, rack-up rental arrears and in some cases cause damages, until the day the bailiff turns up at the door.

The real losers are not the associations, nor the portals, but the long suffering landlord client and the distressed agent.

All said, how then do you then define a rouge agent?

Is he the one who levies a potential tenant a necessary administration fee to process their application, which generally involves obtaining the tenant client to complete a tenancy questionnaire, send out for references, check IDs and proof of addresses just to make sure people are who they claim to be? Agents should be highly commended for this sort of due diligence. The point remains, it is a payable service.
Is it the one who charges for services rendered to cover his ever rising operation cost?

How about the agent who slips a note wherever there's a notice, indicative of an empty property available for sale or for let, and tries to steal custom from another agent? Would this deplorable agent fall into the rogue agent classification? Think about it. Some agents are worse at this than others!

Is it the one who trawls the internet seeking out recently advertised stock from the competition, then rings up pretending to be an interested party just to obtain the property's address, and then deceitfully tries to plunder the lead?

Oh, how about the agent who liberally offers over inflated property appraisal in order to obtain an instruction? If he does not achieve the quoted price, does he qualify as a rogue agent or will he just walk away with a dishonest badge?

Now, as a customer, you probably wouldn't have given this a serious thought. You probably have followed the trend and scorned off on the usual suspects. But with a little insight to the daily duties of an estate/letting agent, I am sure you may have a different opinion as to who a rogue agent might really be, or do you?

Who's a safe agent? More like asking who is a safe goal-keeper. There's no such thing. Good agents know their craft and always eager to support their clients with knowledgeable advice to help. No bull-crap, just plain raw honesty based on fact. Funny thing is; most clients still prefer the bull-crap with a smile than be told what they'd prefer not to hear - the truth. But that's life!

Buy to Let Is Still a Good Investment

During the economic slump of the past few years it has been a difficult time for both savers and those looking for a good investment. There are hardly any savings accounts that keep pace with inflation and even the price of gold has seen some dramatic falls.

However, there is one sector in the UK where investors can still achieve a good medium to long term return on their investment and that is in the buy to let property market. UK government schemes such as Funding for Lending and Help to Buy, designed to kick start the property market, have resulted in the ready availability of cheap mortgages, which are tempting more people into property investment.

Indeed, the number of private landlords in the UK is now getting up to around the million mark so clearly the buy-to-let market is booming. The easy access to cheap mortgages and strong rental demand continues to drive this market sector.

Buy-to-let lending has increased substantially in the past couple of years and many experts believe this is due to the wider availability of investment mortgages via the Bank of England's £80 billion Funding for Lending scheme. The scheme has had a significant impact on lending by improving liquidity and encouraging lower mortgage interest rates, which has helped first-time investors and is one reason for the good returns available to investors.

The other reason investment returns are good is that there is a continued high demand for rental property because, ironically, those people renting are finding it difficult to buy their own homes because they do not possess a large enough deposit. This has resulted in increasing tenant demand and, at the same time, a shortage of properties. Of course, not all of the rental demand may be long term; some renters could simply be waiting to save enough deposit to buy a home, others may be renting temporarily while trying to buy or as the result of a job relocation.

Many investors feel that a buy to let property will make their capital work harder and earn them more especially since average rental yields are around 6 per cent per annum; certainly a higher rate than any savings accounts or bonds in the current market. Since buy to let returns compare very favourably with savings accounts, stock market performance and other types of investment it is not surprising that more people are turning to investment property.

However, buy to let is not always a straightforward type of investment; there are numerous laws and regulations that every landlord in the UK must comply with. There are also the logistical issues of property maintenance, finding new tenants, handling the rental payments and chasing non-payment. Of course, this could be handed over to a letting agent but that would eat into the profits.There are also dozens of buy to let mortgages available to choose from and new investors should take professional advice from a mortgage broker to find the most appropriate deal for them, as well as investigating all the legal issues and risks associated with this type of investment.

What Is The UK's New Help To Buy Scheme?

The UK's Help to Buy scheme may assist you in purchasing a property worth up to £600,000 - be it a new build or a pre-owned home - with a deposit of as little as 5% of the property's purchase price. The scheme will be of benefit to you if you believe you can afford mortgage repayments, but cannot raise the large deposit associated with traditional mortgages.

How does the Help to Buy scheme work?

The scheme takes two forms: one part, the "equity loan" part, enables you to take out an interest-free loan from the government; the other, the "guarantee part", enables the government to act as a guarantor for some of your debt.

The "equity loan" part of the scheme was introduced in April 2013. This part of the scheme may help you to purchase a new-build property. You will need to raise a deposit of 5% of the value of the property you wish to purchase, but you can borrow a further 20% interest-free for the first five years, if you need to do so. You must repay the loan, which is provided by the government, with the proceeds from the sale of your property. You will be free to repay the loan earlier, but only if you pay off your mortgage at the same time. After five years, your loan will attract a fee of 1.75%, which will increase yearly by Retail Price Index (RPI) inflation plus 1%.

The "guarantee part" of the scheme was introduced in October 2013. This part of the scheme may help you to purchase a new or existing property with a deposit of between 5% and 20%. The government will provide your chosen lender with a guarantee for up to 15% of your loan, allowing the lender to offer you a mortgage, regardless of the small size of your deposit.

Is the scheme available throughout the UK?

The Help to Buy scheme operates in England only however similar schemes are available in Wales and Scotland.

Will the scheme help me?

The scheme will be able to help you whether you have not previously owned a home or are an existing homeowner. However, you will not be able to take advantage of the scheme if you wish to buy a property to rent out to others.

Will the scheme help me to acquire a mortgage?

If the only thing standing in your way of acquiring a mortgage is a lack of a large deposit, the scheme should be able to help you. If, however, you have a poor credit history, are unemployed or have recently chosen to become self-employed, the scheme may not help you to acquire a mortgage.

What rate will I have to pay on my mortgage?

Under the Help to Buy scheme, lenders are free to set their own mortgage rates. Mortgages offered through the scheme should, in theory, cost less than the 95% mortgages available on the market. This is because the government will act as a guarantor for some of your debt. That said it is important to realise that, in order to participate in the scheme, lenders must pay the government a fee so this may not always be the case.

What will happen if I fall behind on my mortgage repayments?

Unfortunately, the Help to Buy will not help you if you fall behind on your mortgage repayments. The guarantee is for the lender only and this means that if the lender is unable to recover your debt from the sale of the property, the government will help to make up the shortfall.

What Is the Code for Sustainable Homes?

The code for sustainable homes is a piece of legislation that came into force in 2007 in England and adopted in Wales and Northern Ireland in 2008. It does not apply in Scotland. The code provides a framework for the environmental assessment of homes. Some of the assessment criteria used concern the environmental impact and carbon emissions of new homes, hence they look at construction methods, building materials and insulation characteristics. Another area of the code, however, looks at health and well-being and concerns features that add long term value and benefit to the people who live in those homes. A major part of the carbon footprint of any home is created during its construction phase. It is only sensible, therefore, to build homes that people will want to live in for longer, in order that we need to build fewer houses in the longer term.

Assessing new developments

Every housing developer now needs to appoint a service provider in order to assess any new development and award the buildings a code rating. Qualified assessors will assess the design and award an interim certificate prior to the construction phase and will then calculate a final score and award the appropriate code level upon completion. Each home is assessed according to nine criteria, of which four are mandatory. These are dwelling emission rate, environmental impact of materials, indoor water use and lifetime homes. Points are also awarded for adherence to the other categories, which are weighted according to perceived importance. Totting up the points results in a total score and award of the relevant code level.

Creating quieter homes

The code for sustainable homes also encourages developers to create homes with better sound insulation qualities than are required by current building regulations. By doing this the developers can obtain extra credits by upgrading the specification for separating floors and walls. A maximum score can be achieved by ensuring these separating floors and walls exceed the standard sound insulation performance levels by 8dB. As yet there are no specifications that are certified to deliver this performance, therefore this must be confirmed by pre-completion tests. Solutions to achieve such sound insulation improvements are already being offered, resulting in much quieter homes for residents. Unwelcome noise can be a nuisance to many residents and can greatly impact their quality of life. It is refreshing, therefore, to see regulations that encourage better sound insulation and quieter, more comfortable homes.

The Factors Where Planning Permission Could Be Required Prior to Building a Conservatory

The construction of a conservatory is a very popular way of adding extra, flexible space to a home, in the form of a beautiful, relaxing, light and airy space, which can be used as an extra living or dining area for example. Generally it is not necessary to obtain planning permission before beginning work on building a conservatory, as it is a 'permitted development', but there are certain situations where it may be required.

Planning rules refer to the 'original house', as it was first built, or as it was in 1948. Recent legislation means that larger single storey rear extensions or conservatories are permitted developments until 30 May 2016. This means the size limit for an extension or conservatory has increased from four to eight metres from the original house for detached houses and from three to six metres from the original house for attached houses. For this larger size of conservatory it would be necessary to notify the local planning authority. They may ask for additional information and can notify the neighbours of the intended construction, who could then have the right to lodge an objection.

There are other situations where planning permission might be needed for a conservatory. It is worth considering the size of the proposed conservatory, as if it were to cover more than half the land around the original house, or to project beyond the front elevation of the house, or beyond the side elevation where this is adjacent to a road, then planning permission would be required. A conservatory to the side of the house should not be wider than half the total width of the house.

There are also limits on the height of a conservatory: a conservatory to the rear of the house shouldn't exceed the maximum single storey height of 4 metres and its eaves and roof ridge must not be taller than the highest point of the house. If the conservatory were to be double height, or were to exceed the rear elevation by more than three metres, or be within seven metres of a boundary to the rear of the house, then planning permission would be needed.

If you live in an area of 'Designated Land', such as an area of Outstanding Natural Beauty, or a national park, a World Heritage site, or a conservation area, then a conservatory should not project from the rear wall of the original house by more than three metres for an attached house and by more than four metres for a detached house. In these areas a conservatory is only permitted to be single storey in height and cannot be located on the side of the house. Some general points to consider are that the conservatory roof style should not be radically different from that of the house and the conservatory design should not have a balcony, veranda or raised platform, or else planning permission would be needed.

The Dangers of Falling Foul of the Planning System

Arguably the most important part of the new build process is planning permission. The seriousness of failure to achieve and comply with planning permission cannot be over emphasised. This week's news of a family being forced to have their home demolished serves as a stark reminder of the power wielded by the planning authorities. The Murray family contracted builders to construct their dream home in Glasgow over two years ago.

But the finished house did not comply with the terms of the planning permission granted, and the local council have ordered that the house be demolished. Given that they paid £164,000 for the building plot and the construction cost £300,000, this is devastating news for the family. The council have stated that the house "differed considerably" from the approved plans (six feet higher, four feet wider and nine feet longer, with an unapproved balcony).

Planning permission is granted subject to certain conditions. A breach of these conditions is not illegal. However, it will usually result in the council either allowing the owner the opportunity to seek retrospective permission, or the council may issue an enforcement notice. Failure to comply with an enforcement notice is a criminal offence.

An enforcement notice can demand that you revert things to their original state, for example if you were to replace wood framed windows with UPVC windows without permission, this might be deemed unacceptable and you might be ordered to put wooden frames back in. In the worst case scenario, an enforcement notice could require the demolition of a new extension or even an entire building, as in the case of the Murrays. To make matters worse, you can also be issued with a fine - up to £20,000 in the magistrates court or unlimited in the crown court. The Murray family have been ordered to pay the demolition costs of £11,500. You have the right to appeal against an enforcement notice, but if you are unsuccessful you must comply with the notice.

Some would say it is a crime to demand that a building be demolished, and it is undeniably wasteful of resources, but planners would argue that it needs to be made absolutely clear that people are not permitted to deviate from agreed specifications.

Plans should always be discussed with the local planning authority and building control department before any work begins. Andrew Murray trusted his builder and architect to adhere to the terms of the planning permission granted, but they failed to do so and he is paying the price. The case demonstrates the importance of owner involvement in overseeing building projects. Alternatively, employ an architect or project manager and formally delegate responsibility through a contract.

Whatever the moral rights and wrongs of the situation, the planning authorities have the law on their side, and they have shown they are not afraid to use it.

How Does Green Deal Work to Improve Energy Efficiency?

With the instigation of Britain's first post-war coalition government in 2010, one of the big initial policies to be announced was the creation of a 'Green Deal' for homeowners. The British government is committed to a tough set of energy saving targets, some set by the EU and others, even higher, set by the outgoing administration in Westminster. While the construction of large wind farms, a push for solar power and some large-scale power generation changes have been initiated, including Britain's first new nuclear power station for a generation, the Green Deal was proposed as a means to plug the shortfall through simple measures that save individual households money by reducing their energy emissions.

Coming into force in 2013, the logic of the Green Deal is unassailable. Many homes have substandard insulation, old boilers, 'dirty' energy generation and so forth. These elements of a home can be costly and time consuming to update or replace, leading many homeowners to leave their homes 'leaky' and spending the money on more pressing concerns. The Green Deal, though, offers home improvements for these individuals - for free.

Surely, economists might argue, subsidies are not free but paid for through tax. The repayment structure of the Green Deal, however, is ingenious. A government loan initially covers the cost of the improvements, with repayments being added to the energy bills of the homeowners. The eureka moment is that repayments are only added as and when energy bills are reduced by the energy saving measures, so the costs never actually go up. The savings, so to speak, pay for themselves.

There are various ways in which you could benefit from the Green Deal, depending on what type of property you have and what its major energy efficiency shortfalls are. The first stage of an application will involve an assessment of the property in question and the extent to which the suggested improvement is suitable. These assessments may be charged, although if there is to be a fee, the assessor must notify the homeowner in advance.

Given the nature of Britain's current housing stock, some of the most effective savings to be made are likely to come from improved insulation. This, while not as exciting as the installation of a new solar panel or intelligent boiler, can often be an inexpensive renovation and once the repayments on the government's initial loan are paid off, you are likely to start seeing significantly lower energy bills as a result.

Ten Tips for Budding Landlords

Buy-to-let is booming and, for savvy investors, it can be an obvious place to put your money if you want to save for the future. However, becoming a landlord doesn't come without its pitfalls, so here are a few tips to help first-timers avoid some of the common mistakes:

1. Buy property that appeals to those wanting to rent. Flats and two-bedroomed homes appeal to a lot of potential tenants, especially those who struggle to buy their own home. Stay away from large houses which can be expensive to rent, and often put people off.

2. Don't go for that stunning period cottage. You may want it yourself, but remember you aren't going to be living there and a new property will mean less maintenance over the years.

3. Don't just buy a property in your local area. Look at areas where people want to live for a number of different reasons - good schools, commutability, good transport or also where students may want to be based.

4. Location, location, location. As with any property, you don't want to be going to run-down areas as this can attract poor-quality tenants, but at the same time you don't want somewhere too affluent.

5. The type of mortgage you get is important. Whether it's a buy-to-let or a repayment is down to you, but if you get a rental income which covers your mortgage then you are doing OK. Think about getting a fixed rate if you are worried about rising interest rates and go to more than one broker.

6. Consider using a letting agency. Shop around and find the best deal as there are plenty of letting agencies out there. Don't worry about trying to haggle with them, especially if you have a few properties - you should be able to get their fee down to around seven per cent.

7. Beware of the letting agency 'add ons'. When it comes to doing maintenance on your property letting agencies can charge an 'admin fee' - but you don't have to put up with that. You already pay a monthly fee and this should cover any work they have to do.

8. It's not what you know, it's who you know. If you know anyone who rents out property have a chat with them, find out what they have learned from doing it - they may know a good plumber or electrician, or can possibly refer you to an efficient letting agency.

9. Do the maths. Before you make a decision check you can afford to cover any eventualities such as replacing the boiler. Also, filling in the tax return forms isn't a piece of cake - think about employing an accountant.

10. Make sure you are doing the right thing - remember you are putting your money into something that may fall in price over the next few years. The property market is unpredictable, but then so are stocks and shares.

How a Quick Property Sale is Better Than a Traditional Home Sale

Being able to get one's home sold off in a proper manner is an important thing to do. This is especially the case when it comes to having to deal with the risk of being repossessed. With this in mind it will be important for any property owner in the UK to consider how a quick property sale has a number of benefits that make it better than a traditional home sale.

The most important benefit comes from how a quick property sale will be one that is going to be faster in terms of its time. A typical sale can take place in about a week or so. This is much shorter than what is used for a traditional home sale. In a traditional sale the amount of time that is going to be required is open ended. It could take months or even at least a year for a person's property to be sold in a traditional manner.

The fees that come with selling a property should also be considered. A typical quick sale agency will not charge additional fees for one's services. The agency will be reimbursed for those fees when the agency sells the property that it has just bought.

A traditional sale process, on the other hand, will have to deal with a number of fees. These include such fees as general estate agent fees and legal fees. These are all fees that can easily cost at least a few thousand pounds. The value of these fees will go up according to the value of the property as well.

Also, since a property will be sold as quickly as possible there is no need for a person to have to deal with any more mortgage payments. With a traditional sale the mortgage that a person has on the property will still have to be paid until the home is actually sold off. This is going to be a great concern in the event that a person is one who cannot work to handle the property sale in a fast amount of time. When the home is sold in a quick process the need to handle these fees will be reduced.

A concern about a traditional type of home sale is that when a home is sold the person who is selling it will have to move out as soon as the property has been sold. This comes from how the buyer is expecting to move into the property immediately upon buying it. With a quick property sale there is no need to worry about this. The sale will work in that the seller will be able to move out of one's home a few months after the sale takes place. With this in mind the seller can have enough time to find a new place to live.

In addition to this the sale will be guaranteed in a quick property sale. A traditional home sale always poses the right of the buyer of the property pulling out of the sale before it can be made official. With a quick property sale this concern can be easily avoided. This is especially important for any home sale needs because of how the sale will not be one that is going to be pulled out of.

These are all great reasons as to why a quick property sale is beneficial for one's needs. This type of sale is one that is not going to involve a long amount of time and will work with fewer costs. In addition to this the entire process of the sale will be guaranteed.