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What should I do about the mortgage on our office building following the recent rise in interest rates?
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New homes and commercial properties must comply to Part L Building Regulations and be tested and certified to meet the air tightness standard. This process has energy saving and cost benefits for developers, homeowners and companies, as well as bringing down the overall CO2 emissions of the UK; which
60 www.sussexbusinesstimes.co.uk
Steve Opie, Director of Finance, Spectrum Independent Financial Advice The Bank of England announced a rise to the exchange rate from 0.25% to 0.50% at the beginning of November – the first we’ve seen in 10 years. While some might argue that this small increase was only reversing the “emergency” decrease in August 2016 to stabilise sterling in the wake of the Brexit vote, the likelihood is that from now on, the only way is up. So after a decade of ultra-low interest rates, it could be a wise move to prepare for a gradual rise by reviewing your current mortgage. If you are on a fixed rate already then there’s less urgency, although it’s always a good idea to review your terms and have a look around to see if you can get a better deal. If you are on a variable rate, then now is an ideal time to consider a fixed rate mortgage. While you may end up fixing on a slightly higher rate than you are
currently paying, you would have peace of mind knowing exactly what you need to budget for each month. Lending is still a very competitive market, so there are plenty of good deals to be had. However don’t leave it too long, as once lenders start to pass the rate rise down to the consumer, there could be a general rise in mortgage rates across the board, particularly if the Bank of England makes a second increase in the coming months. You may want to seek advice from an independent financial adviser who specialises in commercial mortgages. They will help you to find a deal that best suits your business and support you through the application process. To get in touch with Steve, please call 0800 195 1066 or email steve@specifa.co.uk. For more information visit www.specifa.co.uk
Hicham Rhioui, Director, Falcon Energy the UK Government aims to reduce. Once a property is built, it can be air pressure tested by using an industry standard on-site fan that gradually increases and decreases pressure to discover air leakage paths and undesired air flows. Once detected, cracks and gaps in a building can be fixed to remove leaks and drafts, resulting in reduced CO2 emissions. The testing process fully traces air flow and leaks and is a technical process undertaken by trained engineers. It results in a calculated leakage rate and air flow differential, as well as a range of environmental readings. Once weaknesses in air flow are resolved, heating for a property becomes more efficient and will use less energy as none is unnecessary lost. For homeowners and businesses,
this reduces energy bills in the short and long term, and makes them more environmentally friendly. This is prudent for businesses as the public are increasingly aware of commercial ethics and being responsible consumers Financial and environmental benefits Landlords, homeowners and businesses can all potentially reduce potentially harmful CO2 emissions and save on energy bills with air tightness testing, should uncontrolled air flow be suspected. If you are building new homes, certification is required and it’s best to use the skills of a fully qualified team under the IATS, such as Falcon Energy, whose team are highly skilled in carrying out thorough testing throughout Sussex. https://www.falconenergy.co.uk/