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LIFESTYLE MAGAZINE

PROPERTY NEWS

APRIL 2020

A MATTER OF TRUST THIS YEAR MARKS THE 125TH ANNIVERSARY OF THE NATIONAL TRUST KEEPING YOU SAFE COVID-19 ADVICE FROM THE GOVERNMENT

HEALTH FOCUS EXERCISING WHILST AT HOME

SIGN OF THE TIMES FUNKY SIGNAGE FOR YOUR HOME

A VE DAY CAKE CELEBRATE WITH AN EGGLESS FRUIT CAKE

CONTENTS COVER STORY

A Matter of Trust This year marks the 125th anniversary of the National Trust. But how much do you know about them?

PROPERTY

2 6 16

Talking Japanese Discover the hybrid trend of elegant Japanese minimalism combined with rustic Scandinavian

Sign of the times Funky signage for your home

News Our latest mortgage and protection news. Plus meet the team!

FOOD

A VE Day Cake Featuring an eggless fruit cake for all the family to enjoy

LIFESTYLE

Keeping you safe Covid-19 advice from the government

A stand-out trend has been rich silk textures, bird motifs, oriental prints and structured furniture shapes – all inspired by Japan and Scandinavia

JIMI SCANDINAVIAN-INSPIRED DAY BED WITH BASE This Jimi day bed has a Scandinavian feel and clean, simple lines that is sure to look perfect in any children’s bedroom. With natural solid pine legs, bed size is approx. 90 x 190cms. £297.50 www.laredoute.co.uk

VE Day This year marks the 75th anniversary of VE Day

10 14

Health Focus Exercising at home

Get your rental garden spring and summer ready Now is the perfect time to spend time in your garden

WELCOME TO THE APRIL ISSUE! All our staff would also like to take this opportunity to give a big thank you to you, our clients, for your patience and understanding at this difficult time.

Although our office is currently closed due to government advice, we are still operational from home, so please continue to call or email, and we’ll be more than happy to help.

We will of course let you know when we are back to being fully operational.

We are proud to be able to continue to bring you your magazine too, which includes lots of articles and lifestyle content to help you get through this difficult period.

Until next time, take care and stay safe. #STAYHOMESAVELIVES Linda McKeown Editor

FLIGHT DINING CHAIR Inspired by iconic designs from Denmark, this walnut stained wood and cool grey fabric upholstery chair is stylish and timeless. Ideal for kitchens, dining rooms and home office spaces. £129

PROPERTY NEWS

www.cultfurniture.com

hese are unprecedented times. However, as the Prime Minister, Boris Johnson, has said, “we will do everything in our power to help”. He is confident that the UK will bounce back – and so are we.

TALKING JAPANESE The hybrid trend of elegant Japanese minimalism combined with rustic Scandinavian simplicity, means that you can now have the best of both worlds. And perfect for you if you prefer a less-is-more approach! Clutter-free spaces, combined with clean lines and a calm colour palette, is all you need to achieve the latest Japanese inspired trend.

ACHIEVING THE LOOK

MAKE AN IMPACT

When it comes to furniture, try and mix the paleness of blonde Scandi woods with Japanese signature style of black and dark woods. Doing this will help to bring depth to your furniture.

However, when it comes to larger spaces such as living rooms and master bedrooms, the busy patterns and statement dark pieces of furniture will work well together.

The key here is to keep the colour palette you use, soft. Do this by embracing the calming tones of pale blue, muted green, light grey and pink. Mix these with accents of richer shades, such as teal, indigo, rust, emerald and black to really make an impact.

This new trend can work in any room: just use your imagination! However, it is important to remember that quality over quantity is the best approach. By not overloading your space, you will allow the design to ‘breathe’ and make the right impact. This is especially true for smaller spaces such as a study or spare bedroom.

Here are some of our favourite finds for achieving the look in your home…

5-DRAWER CHEST OF DRAWERS This combination of acacia wood and dark green is sure to create a reassuring ambiance in your interior. Featuring five storage drawers, giving you plenty of room to organise your clothes, bed linen or accessories.

£487.50

www.maisonsdumonde.com

DANVILLE SIDEBOARD A gorgeous Japanese inspired sideboard. Made of wood and featuring two independent modules using a central separator, it also has a hinged door with metal handles. 74cm H x 115cm W x 30cm D.

£294.99

www.wayfair.co.uk

PRICES CORRECT AT TIME OF GOING TO PRINT

DINING TABLE AND SET OF 2 BENCHES The understated design means this table works well in contemporary and traditional set-ups with the matching Fjord benches completing the look. Crafted from robust solid oak legs, this table and bench set is perfect for everyday use. www.made.com

£279

Clutter-free spaces, combined with clean lines and a calm colour palette, is all you need to achieve the latest Japanese inspired trend

LIFESTYLE MAGAZINE

KEEPING YOU It’s trying times but we all have a part to play in keeping communities safe from the threat of coronavirus. Here’s advice from the government as to what you can do to play your part

hen we reduce our day-to-day contact with other people, we in turn help to reduce the spread of the infection. That is why, on 23rd March, the government introduced three new measures: l People are to stay at home, except for very limited purposes l The closure of all non-essential shops and community spaces, including libraries, playground and soft play facilities l Stopping all gatherings of more than two people in public (excluding those who live in the same household)

You can find all this information and more by visiting www.gov.uk/coronavirus

PROPERTY NEWS

spread of the virus to friends, the wider community, and particularly the most vulnerable. You should only leave the house for one of four reasons: l Shopping for basic necessities, for example food and medicine, which must be as infrequent as possible l One form of exercise a day, for example a run, walk, or cycle - alone or with members of your household l Any medical need, or to provide care or to help a vulnerable person l Travelling to and from work, but only where this absolutely cannot be done from home

Even when doing The single most Everyone must adhere these activities, the important action we to these new measures. government advise that The relevant authorities, you should minimise can all take, in including the police, the time spent outside fighting coronavirus, have been given the of your home and that is to stay at home in powers to enforce them you are at least two order to protect the – including through metres apart from NHS and save lives fines and dispersing anyone outside of your gatherings. The household. Where measures will be relaxed parents do not live in as and when the government have the same household, children under evidence to show that this is possible. 18 can be moved between their Staying at home will help control the parents’ homes.

– AND YOUR COMMUNITY – WASH YOUR HANDS OFTEN

The advice continues to be to clean your hands frequently each day by washing with soap and water for 20 seconds or using hand sanitiser. This will help protect you and the people you live with. This step is one of the most effective ways of reducing the risk of passing infection to others.

COVER COUGHS AND SNEEZES

When you cough or sneeze, cover your mouth and nose with disposable tissues. If you do not have one to hand, sneeze into the crook of your elbow instead. If you have a carer, they should also use disposable tissues to wipe away any mucus or phlegm after you have sneezed or coughed. Then they should wash their hands with soap and water. Dispose of tissues into a disposable rubbish bag and immediately wash your hands with soap and water or use a hand sanitiser.

LOOKING AFTER YOUR WELLBEING WHILE STAYING AT HOME

We know that staying at home for a prolonged period can be difficult, frustrating and lonely for some people and that you or other household members may feel low. It can be

SAFE

particularly challenging if you don’t have much space or access to a garden. It’s important to remember to take care of your mind as well as your body and to get support if you need it. Stay in touch with family and friends over the phone or on social media. Think about things you can do during your time at home. People who have not minded staying at home have managed to keep themselves busy with activities such as cooking, reading, online learning and watching films. If you feel well enough, you can take part in light exercise within your home or garden.

Washing your hands is one of the most effective ways of reducing the risk of passing infection to others

To help look after your mental wellbeing at home, visit the Every Mind Matters website at www.nhs.uk/oneyou/everymind-matters/

WHAT TO DO IF YOU OR YOUR FAMILY NEED TO SEEK MEDICAL ADVICE

Seek prompt medical attention if your illness or the illness in any household members is worsening. If it’s not an emergency, contact NHS 111 online. If you have no internet access, you should call NHS 111. If it is an emergency and you need to call an ambulance, dial 999 and inform the call handler or operator that you or your relative have coronavirus symptoms.

#STAYHOMESAVELIVES

LIFESTYLE MAGAZINE

A SIGN OF THE TIMES PERSONALISED MAN CAVE SIGN This high-gloss finish personalised street sign would make a fab gift. Can be personalised with a choice of name, postcode and hobby. Fixed Text reads ‘Man Cave’. 23cm x 32cm. £14.99 www.loveabode.com

GREY WOODEN TOTALLY SOBER FUNNY WALL SIGN

This wooden hanging wall plaque with the words ‘Sotally tober’ is a brilliant gift idea for friends and relatives who enjoy the odd tipple. Dimensions: 40 x 10 x 2am. Product code: 898159. £11.99 www.notonthehighstreet.com

DUNELM PRINTED GREY OUR FAMILY PLAQUE A beautifully designed wall plaque featuring an inspirational quote. Ideal for any room in your home. £15 www.dunelm.com

COCKTAILS NEON SIGN

We love this cocktails neon, handmade, sign. Made with a more flexible neon light than traditional blown neon, means that it’s easier to create and word or shape. A must for any home bar! Made from Acrylic and EL neon wire. £79.99 www.etsy.com/uk

PROPERTY NEWS

Signage has grown to be a popular trend in the home; from placards to light up signs, there is something out there for everyone!

LOOK WHAT I MADE SIGN

The perfect way to show off your little ones’ artwork! Each sign is hand cut and painted or stained, and features movable pins. £31.08 www.etsy.com/uk

NO GIN WOODEN WALL PLAQUE t

Perfect for any gin lover! Why not hang it above a door? Who know, you may be gifted gin! £12 www.next.co.uk

BEST DAY EVER QUOTES PRINTED ON WOOD This feel-good plaque is a great way to add positivity to you home and features unique typography printed directly onto wood. £24 www.debenhams.com

t KREBS DOG SECRET BLOCK SIGN We all know our best friends can keep our secrets! With a distressed finish, this sign is great for dog owners! £19.99 www.wayfair.co.uk

PRICES CORRECT AT TIME OF GOING TO PRINT

TOGETHER IS A WONDERFUL PLACE TO BE SIGN

These wooden signs are hand made in the UK. With an authentic and rustic look, no two signs are the same. Size: 90cm x 10cm. £22.99 www.amazon.co.uk

LIFESTYLE MAGAZINE

LEST WE FORGET May 8th, 2020 – VE Day – marks 75 years since the guns fell silent at the end of the war in Europe The arrival of peace in Europe came on 8th May 1945 when years of carnage and destruction came to an end during World War II. Millions of people took to the streets and the pubs to celebrate peace – while also mourning loved ones lost during the battle. However, despite the celebrations, at the time there were still thoughts of course to those continuing to fight in the conflict, which didn’t end until 15th August 1945; when Japan surrendered unconditionally to the Allies, effectively ending World War II. The looming 75th anniversary of VE Day will provide ample opportunity for all of us to reflect on the countless sacrifice, courage and determination of people from all walks of life who helped us through these dark and difficult times.

Those we pay tribute to not only include those who fought on the front line, but also all the individuals who contributed to our freedom as we know it today. The hard working men and women who can be applauded for their contribution includes those who operated the factories, mines, shipyards and farms, the ARP wardens, police officers, doctors, nurses, fireman, local defence volunteers plus many others who worked tirelessly day and night during frightening and uncertain times for all. In honour of all those who sacrificed for our freedom, the government has already announced that Friday 8th May 2020 will be a designated Bank Holiday. This replaces the Bank Holiday which normally takes place on the first Monday of May. Lest we forget.

PROPERTY NEWS

The ode of remembrance They shall grow not old, as we that are left grow old: Age shall not weary them, nor the years condemn; At the going down of the sun, and in the morning, We will remember them.

A VE DAY

READY IN: 1hr SERVES: 15

CELEBRATION CAKE Eggless fruit cake INGREDIENTS 1 cup brown sugar 1 cup water 1 cup raisins 2 tablespoons oil or 2 tablespoons margarine 1 teaspoon cinnamon, ground 1⁄2 teaspoon clove, ground 1 1⁄2 cups flour 1⁄2 teaspoon salt

VE Day 1935 and sandwiches were the main order of the day during the street party celebrations, as was beer (that is, until it ran out in the pubs, well before the 10.30pm curfew!) But people wouldn’t have been celebrating the same as we do today. Wartime rationing meant sugar and butter were hard to come by, so this eggless fruit cakes would have been the next best thing!

METHOD 1. Place the brown sugar, water, raisins, oil, cinnamon, and cloves in a heavy-bottomed

saucepan and bring to a boil 2. Cook gently for 5 minutes, then remove from the heat and let cool until the mixture is

comfortably warm to your finger 3. While the mixture is cooling, preheat the oven to 350F 4. Grease and flour an 8x4-inch baking pan 5. Sift together the flour, salt, baking powder, and baking soda. Add them to the cooled

sugar mixture, beating until no drifts of flour are visible and the batter is smooth. Then stir in the walnuts 6. Spread the mixture evenly in the baking tin

and bake for 25-30 minutes 7. Let cool in the pan for 10 minutes, then turn onto a rack to cool completely If you want to add a good glaze, save back bit of the hot spiced water and mix with

icing sugar, a drop of vanilla, and a pinch salt. Glaze the cake while hot.

You can also find details of the recipe here: https://www.food.com/recipe/ww2-war-cake-1881?mode=US&scaleto=15

Image for illustrative purposes only

LIFESTYLE MAGAZINE

GET YOUR EXERCISE FIX AT HOME

Get fit with these simple exercises that can be done in the comfort of home and with a minimal amount of equipment!

PUSH-UPS Push-ups, alongside sit-ups, squats and planks are a staple of any good workout, whether at home or at the gym.

Do it! - To do a push-up lay on your stomach and place your toes on the floor and then raise yourself with your arms shoulder-width apart, before slowly lowering yourself so your stomach is an inch off the ground. Repeat this as many times as you can. Push-ups work your core, your shoulders and your chest.

SIT-UPS There are a huge variety of sit-ups depending on which of your abdominal muscles you want to hit. The standard sit-up works all the abs.

Do it! - Lay on your back with your knees bent and, ideally, with your feet held down to the floor, and then using your stomach muscles, and not your back, lift your upper body towards your knees â€“ hold at the top, before then slowly coming back down.

PROPERTY NEWS

PLANKS Planks are excellent for core strength. Get into a push-up position, however, instead of lowering yourself to the ground, hold your body tense, lifted off the ground for as long as you can â€“ keeping your back straight at all times. To make things harder in the standard plank, move from your hands to your elbows.

Planks are excellent for core strength

Do it! - To do a side plank, lay sideways on the floor, resting on your forearm and then raise your body into a straight line and hold.

SQUATS Squats are a whole-body compound exercise and as such, are one of the best home workout exercises you can do.

Do it! - Stand with your knees slightly bent and your feet shoulder-width apart, and while keeping your back straight, bend your knees and get your bum as close to the floor as possible. To make the exercise harder you can grab something heavy and hold it in front of you as you squat.

DIPS Dips are a great exercise for your shoulders, chest and triceps and all you need is a sofa or a chair.

Do it! - Sitting on the floor, move so your back is against the legs of the chair or sofa and extend your legs in front of you. Now put your arms onto the flat base of the chair or sofa and using your arms, lift your body off the ground keeping your back straight and your legs extended.

LIFESTYLE MAGAZINE

A MATTER

OF TRUST

The National Trust looks after 780 miles of British coastline

PROPERTY NEWS

It looks after some of the country’s much-loved heritage, has more than 5.6million members and this year is marking its 125th anniversary. But how well do you know the National Trust?

hat do the white cliffs of Dover, the King’s Head in Aylesbury, Sir Isaac Newton, the barbastelle bat and Lady Penelope of Thunderbirds fame have in common? They all have strong connections with The National Trust, the renowned independent charity which looks after historically significant houses, buildings, gardens, coast and countryside throughout the British Isles. And this year it is marking its 125th anniversary. Although officially founded in January 1895 when the Trust was registered under the Companies Act, the idea for an organisation to protect the nation’s heritage started to germinate 11 years previously when Octavia Hill, a leading social reformer, was asked to help preserve Sayes Court Garden in south-east London . It brought her to the attention of Sir Robert Hunter, solicitor for the Commons Preservation Society, and during successful campaigns to resist development on Parliament Hill Fields, Vauxhall Park and Hilly Fields in London, they were joined by Canon Hardwicke

National Trust says... “Over the coming weeks our digital platforms - our website, social media feeds, podcasts and video will become even more important, ensuring the places of nature, beauty and history that we care for on behalf of the nation can remain open for business virtually while we are temporarily closed.

“We will also be ramping up our efforts to help people connect with nature wherever they are and to find moments of joy in the world around them. We will be providing rich content and staying in touch with our members and followers throughout this time.”

Rawnsley and, in 1895, founded the National Trust for Places of Historic Interest or Natural Beauty.

landscape, the Jurassic Coast, the Giant’s Causeway – probably their most visited site – and Hadrian’s Wall.

Within weeks they were gifted their first site - the five acres of cliff top at Dinas Oleu in Wales - and, in a year, bought their first building, Alfriston Clergy House, for £10 (about £600 in today’s currency). Today, the Trust owns more than 500 properties which were visited by almost 28million people in 2018-19. They have more than 5.6million members, second only in the United Kingdom to the AA, and are the largest voluntary conservation organisation in Europe.

It costs almost £370million a year and as many as 14,000 staff to look after these sites – plus 65,000 volunteers in more than 500 roles. As a registered charity, they rely wholly on subscriptions, donations (£97.8million in 2018-19 alone) … and cups of tea (they sell more than 4.5million a year on their premises).

Impressive statistics, but consider these: The National Trust looks after 780 miles of British coastline, including the iconic white cliffs, and more than 248,000 hectares of land; they care for over 500 historic houses (Woolsthorpe Manor in Grantham was where Newton was born and where a falling apple inspired his theory of gravity) castles, parks, ancient monuments, and nature reserves. And that includes nine lighthouses, 56 villages (yes, whole villages), 39 pubs (the King’s Head being one of them) … and a gold mine in Carmarthenshire. As well as 49 churches, nine monasteries … and eight billiard tables. It also looks after eight World Heritage sites including the Lake District, Stonehenge

Trust properties have been used as the backdrop for TV and films from Game of Thrones to Harry Potter. And Stourhead House in Wiltshire was the inspiration for Lady Penelope’s residence in the original Thunderbirds puppet series in the 1960s. They had to pull some strings for that … And as for the barbastelle bat … all 17 species of UK bat have been recorded as roosting or breeding on Trust sites, while their land was used to successfully reintroduce the beautiful Large Blue butterfly to England after it was declared extinct in the UK in 1979. However, if your impression of a NT visit is traipsing round a fusty country home or battling the elements yomping across hill and vale, think again as there’s more than a hint of family focus on the Trust’s calendar Individual events are detailed on their website.

Full details can be found on nationaltrust.org.uk

LIFESTYLE MAGAZINE

GETTING YOUR RENTAL GARDEN,

SPRING AND SUMMER-READY Homeowners don’t get all the fun in the garden when spring rears its wonderful head…

fter the wet and grey winter, we’re all happy to see the evenings staying lighter later, and with warmer temperatures, now is the perfect time to get your garden summer-ready. However, as a tenant, it’s important to confirm with your landlord what you can and can’t do in your garden.

PATIO AND DECKING AREAS A patio or decking area can be the perfect place to enjoy a meal in the evening or to relax with a G & T. Before you lay one though, check with your landlord, as a patio or decking area is more permanent than planting a flowerbed.

FENCES AND GATES Fences and gates can be expensive to repair, so the landlord will more than likely want to get someone professional in to fit them. If you’re looking to paint your fences and gates to make them more

PROPERTY NEWS

aesthetically pleasing, also get your landlords permission first, as if they are not happy with the colour you choose, they may have to get a professional in to fix them at a cost to

of these throughout the year. If you have hedges surrounding your property, remember to keep these trimmed during the spring and summer too.

you or make you pay to replace them.

As a tenant, it’s important to confirm with your landlord what you can and can’t do in your garden

FLOWERBEDS AND HEDGES If you already have flowerbeds, there are no rules in place about what flowers you decide to grow. However, if there aren’t any flowerbeds, don’t dig up the lawn to put some in without first getting permission. You

TREES AND OVERHANGING BRANCHES If you have trees in your gardens, sometimes the branches can start to overhang and block out the natural sunlight. If you want these cutting back, check your landlord does not want to get a professional in to help avoid any damage to the property or surrounding properties. Some trees may also be protected and a fine may be imposed if you tackle them yourself.

Enjoy your garden when the nicer weather arrives; however, remember

will also be responsible for keeping

to check with your agent and

the flowerbeds neat and tidy during

landlord if you have any questions

your tenancy; so, try and keep on top

about what you can and can’t do.

LIFESTYLE MAGAZINE

Winter/Spring 2020

Mortgage & Protection news

The newsletter from Xact Mortgages Limited

Following the political developments over the last few years, many of us may see 2020 as the year to get on with our lives.

Time for

ACTION...

A reflection of this is the optimism that’s returned to the property market. Rightmove has seen its largest monthly rise in the average price of properties coming to the market for this time of year, and a sizeable 1.3m buyer enquiries, up 15% compared to the same monthly period a year ago.

saving of £1,000 a year across the introductory rate period. (Source: Financial Conduct

(Source: Rightmove, House Price Index, January 2020)

Authority, Mortgages Market Study, March 2019)

You too may be keen to implement the property and mortgage plans you’ve possibly been holding back on, whether that’s for: ■ a house move. ■ improving the current property. ■ buying a first home. ■ purchasing an additional property. ■ expanding the portfolio as a landlord. Alternatively, you may be coming towards the end of your current ‘deal period’, have been sitting for far too long on your lender’s Standard Variable Rate (SVR), need to raise further funds, or are keen to move to a better deal. With regard to the latter points, this is reinforced by the industry regulator, who estimated that 800,000 borrowers could switch their mortgage and make an average

Whatever your plans, you are probably aware that we’re still in a scenario where there are excellent mortgage deals on offer. Of course, whilst the lenders are keen to do business, you still need to meet their stringent lending criteria, and that’s why it’s vital that you take advice. Particularly as it can be a confusing process, with so many product options and deal rates out there.

Xact Mortgages Limited 6 The Square, First Floor Solihull B91 3RB Tel: 0121 712 6230 Email: sales@xactmortgages.co.uk Web: www.xactmortgages.co.uk

The Mortgage marketplace Whilst the political uncertainty may have impacted on the property market, the mortgage loans sector has been in relatively good health. Remortgages are thriving as people look to lock into the lowest rates possible. The interest in remortgaging may come as no surprise when you consider that

households now only move once every 20 years, up from every eight years in the 1980s. Elsewhere, First-Time Buyers are at their highest share of housing sales since 2007, accounting for more than one in three sales (36%) and 50% of mortgages for home purchase. (Source: UK Finance, December 2019 report)

Don’t forget Protection cover Whether you’re still living at home, renting, or a homeowner, it makes sense to have insurance cover in place to protect your life and/or loss of an income stream. Talk to us to hear more about this, and how we could help with any mortgage needs. You may have to pay an early repayment charge to your existing lender if you remortgage.

■ Xact Mortgages Limited is an appointed representative of PRIMIS Mortgage Network (PRIMIS), a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority. PRIMIS is only responsible for the service and quality of advice provided to you in relation to mortgages, protection insurance and general insurance products. Any other product or service offered by Xact Mortgages Limited may not be the responsibility of PRIMIS and may also not be subject to regulation by the Financial Conduct Authority. ■ This firm usually charges a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity. ■ Your property may be repossessed if you do not keep up

repayments on your mortgage.

Your biggest ex p en s e With Property Debt accounting for over 90% of total UK household liabilities, it probably makes sense to seek advice. (Source: Office for National Statistics, Household Debt Survey, December 2019)

For many of our needs we happily purchase online, but with the myriad of mortgage products out there, and the fact that it is such a sizeable and complex purchase, why wouldn’t you seek professional help? To reinforce this point, industry data shows that intermediaries (such as us) originate three-quarters of all ‘residential mortgages’ (by value), up from less than half in the 2009-12 period. With regard to

Mortgage Calculator Monthly payments for a mortgage per £1,000 borrowed over 30 years Interest rate %

0.25 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 6.00 6.50 7.00

Interest-only* £

0.21 0.42 0.83 1.25 1.67 2.08 2.50 2.92 3.33 3.75 4.17 4.58 5.00 5.42 5.83

landlord ‘buy-to-let mortgage’ business, this figure increases to almost 90%. (Source: UK Finance, December 2019 report)

Work through the choices We endeavour to deliver a human face to help make sense of the most suitable options on offer for you. For example, the vast majority now opt for a fixed rate mortgage, but a tracker rate may be better for your needs. Securing the introductory mortgage rate for five years, is now more popular than the two-year deals, but again, flexibility offered by a two-year one may be more suitable. In terms of the overall length of the mortgage, in the past, 25 years was the

standard length. However, to reflect the development of mortgage terms running into our 60s and beyond, the 30 and 40year terms are becoming more popular delivering a cheaper monthly cost, albeit more expensive overall.

We’re there for You Additionally, we recognise that most of you have time-pressed lives. We will endeavour to reduce the hassle of filling out forms and applications. We’ll help navigate you through the raft of tighter rules, which now apply to ‘evidencing of income’ and ‘affordability’ measures. We also take a view of the wider marketplace rather than just what’s on offer from one high street lender. Plus, we can highlight the insurance you should consider to cover the mortgage debt and your income stream(s). So, irrespective of whether you’re new to property buying, or an old hand, we have experience of dealing with all types of clients, enabling us to work towards identifying the most suitable product for you. You may have to pay an early repayment charge to your existing lender if you remortgage.

■ Your property may be repossessed if you do not keep up repayments on your mortgage.

Repayment £

2.88 2.99 3.22 3.45 3.70 3.95 4.22 4.49 4.77 5.07 5.37 5.68 6.00 6.32 6.65

Here’s how to use the mortgage payments calculator: A £100,000 mortgage over 30 years, charged at a 2% interest rate would cost 100 x £3.70 (for Repayment) = £370 per month. * Excludes any payments to a separate savings scheme, to help pay off the capital amount borrowed. This calculator only provides a guide to monthly payments and does not guarantee eligibility for a mortgage. The actual amounts that you may have to pay may be more or less than the figures shown. Please contact us for a personalised illustration.

Credit Rating - check yours Quite apart from not being able to vote, if you’re not on the Electoral Register it may result in a lower personal credit rating score.

Equifax - Tel: 0800 014 2955

means that people who have a poor score

TransUnion - Tel: 0330 024 7574

may suffer, as can those who have no

www.transunion.co.uk

The role of a credit score is to try to

predict your future behaviour, which

credit history at all! So do check your rating at one (or some) of the following:

www.equifax.co.uk

As every lender has its own ‘perfect customer’ profile, a rejection from one isn’t necessarily a rejection from all. By talking

Checkmyfile - Tel: 0800 086 9360

to us we’ll have a better feel for items

www.checkmyfile.com

which may score you down and where

Experian - Tel: 0800 013 88 88

you might get a more favourable response

www.experian.co.uk

for credit.

T h e p o si t i v e s f o r

Landlords Landlords have been under pressure in recent years due to the massive array of regulatory and tax changes, however, there remain many positives about this sector...

Enthusiasm from Lenders Lenders are demonstrating a willingness to support the buy-to-let market with excellent mortgage deals on offer and increased innovation to help meet the varying needs of landlords. With regard to rates, they continued to drop in the final quarter of 2019, with the greatest reduction on longer-term fixed rate mortgages. For example, a 70% Loan-to-Value, 5-year fixed rate mortgage was 4.4% lower than 12 months ago.* This may have assisted the growth in popularity of 5-year deals vs. 2-year ones.** (Source: *Mortgage Brain, December 2019, **UK Finance, December 2019 report)

Tenant demand Renting can provide greater flexibility than home ownership. Of those already renting, research shows that 75% were content with their situation, with 33% happy to rent forever. And of those who aim to buy a property into the future, they’re prepared to wait 4.1 years, on average.*** Tenant demand could increase further, as 34% of landlords have indicated that they intend to reduce their investment in the market, with only 12% saying they’re looking to expand the number of homes they rent out - possibly impacting on the supply of available properties to rent.**** (Sources: ***Landbay, October 2019; ****Residential Landlords Association, December 2019)

Record asking rents across the UK According to Rightmove, the shortage of new stock to choose from, coupled with strong demand from tenants, has led to record asking rents in all but two regions (Scotland and the North East) in Q3 2019. (Source: Rightmove, Rental Price Tracker, October 2019)

Option of Limited Company status Due to the tax changes, 63% of landlords say that they intend to purchase their next buy-to-let property within a Limited Company structure. This means that they shouldn’t be affected by the tax relief changes, and lenders may apply a less stringent rental calculation as a result. (Source: Foundation Home Loans, October 2019) This route won’t be right for everyone, particularly those with just one or two properties. Also, interest rates may be higher, and there might be implications for both capital gains tax and stamp duty. That’s why it’s vital that you obtain tax advice from your accountant.

Where we can assist You We can’t avoid the fact that the private rented sector is affected by the political and economic climate, along with the tax and regulatory controls. So it’s important for landlords to continue to seek specialist advice from us to ensure you make the most of the borrowing rates, rental demand and innovative products out there.

There is no guarantee that it will be possible to arrange continuous letting of the property, nor that the rental income will be sufficient to meet the costs of the mortgage. The value of your Buy-to-Let property and income from it can go down as well as up. You may also require advice on the legal and tax issues. The Financial Conduct Authority does not regulate legal and taxation advice, and most Buy-to-Let mortgages. HM Revenue & Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.

■ Your property may be repossessed if you do not keep up repayments on your mortgage.

Assistance for the

SELF-EMPLOYED

The number of Self-Employed workers in the UK has almost hit 5m (representing 15% of the total workforce), yet this group still faces problems when it comes to securing a Mortgage and has eligibility concerns regarding Protection cover. (Source: Office for National Statistics, Labour market overview, December 2019)

Securing a Mortgage Whilst lenders may not necessarily view the self-employed as a greater risk to lend to, they do have issues about how to assess their ongoing income. This is compounded by the way some self-employed organise their payments to ensure they’re tax-efficient, which may work against them when endeavouring to demonstrate to a lender they have the ability to fund the loan they wish to take out. The term ‘self-employed’ can also present a problem for lenders, as it pulls together a whole host of different individuals, such as contractors, sole traders, gig economy workers, freelancers, and early-stage start-ups. This could mean that a myriad of workers with differing income streams and earning potential are lumped together, resulting in the computer possibly saying: ‘no’.

Income Protection Here’s a fictional example of how an Income Protection plan could play out... Adam runs an IT consultancy. In the last tax year he earned a gross salary of £90,000. After reviewing his monthly expenditure he took out a Self-Employed Income Protection policy covering 50% of his annual earnings, totalling £45,000 or £3,750 per month. He opted for long-term cover that would pay out the taxfree monthly benefit for as long as he may need it, if he was unable to work and earn an income. He also opted to defer any payouts for six months, as he had sufficient savings to see him through this initial period, resulting in cheaper premiums. Two years after taking out the policy, he developed cancer, and his claim was approved. In total, Adam was off work for three years. Over this period, he received 30 monthly payments of £3,750, totalling £112,500, enabling him to meet his financial obligations whilst off work, and to focus his energies on recovery. There are a multitude of providers and product choices to consider, so it makes sense to take advice.

However, interestingly, those self-employed who have jumped through the hoops and secured a mortgage may be a safer bet than first-time buyers, for example, as analysis shows that they could have taken out a mortgage 29% larger than the original loan borrowed. (Source: Kensington, Affordability Tracker, Q2 2019) Along with possible conversations with your accountant to discuss how your payments are structured to make you more appealing to a lender, it’s vital that you also talk to us, to help identify the lenders that may be interested in doing business with you. And there are a number of them that are more amenable to this sector, and why wouldn’t they be when there’s a marketplace of 5m individuals to target!

Protection considerations Nearly a third of self-employed and contract workers would run out of money within a month if an accident or illness stopped them working. (Source: LV, November 2019) Should they be off work for a lengthy period due to illness or injury - the majority of self-employed workers will not be entitled to Statutory Sick Pay and would, instead, have to pursue a lengthy claim for benefits such as Employment and Support Allowance, and any other benefits, dependent on the severity of the illness. Yet it’s unlikely that payouts would equate to the average UK household expenditure of almost £600 per week. (Source: Office for National Statistics, Family spending in the UK, January 2019)

That’s why it’s possibly vital that the self-employed consider income protection, as well as life and critical illness cover. Income Protection would deliver a regular income, for a short-term period, or even up until retirement. It could be highly relevant, yet many wrongly believe that they won’t be eligible for it. That’s why you should talk to us. As with all insurance policies, terms, conditions and exclusions will apply. ■ Your property may be repossessed if you do not keep up repayments on your mortgage.

New Kids on the Block

If you’re unsure about becoming a First-Time Buyer - research shows that the average homeowner could be better off by £352,500 over the next 30 years, compared to the average private renter! (Source: Intermediary Mortgage Lenders Association, October 2019)

That figure is comprised of the £133,700 the average homeowner could expect to save when paying for a mortgage rather than rent over that period, plus the additional £218,800 of equity gained from paying off that mortgage. It doesn’t include any possible house price inflation over the 30-year period. Historically though, house prices have risen at an average of around 4.3% a year over the last 30 years, although growth is far more subdued at the moment, at about 1.9% nationally, over the year. (Sources: Nationwide, House Prices, to Q4 2019, and January 2020)

(Source: Legal & General, Bank of Mum & Dad, 2019 report)

Getting the Deposit together So what’s stopping all renters jumping on board? Some will prefer the flexibility renting provides at this period in their life. Others will be concerned that they may not meet the more stringent controls that are now in place for mortgage lending (do talk to us if that’s your concern). But possibly the biggest stumbling block is the struggle to get together the deposit. Fortunately, the government and marketplace recognise this and there are Help-to-Buy (or similar) schemes on offer, alongside normal lender products, that only require a 5% deposit. Additionally, if you have just a 5% deposit, and opt for a Helpto-Buy (or similar) scheme, generally for new-build properties, then

STAMP DUTY BENEFITS First-time buyers in England and Northern Ireland continue to enjoy a lower stamp duty cost if the purchase price is £500,000 or less.* If it’s £500,001+, then you still operate under the standard residential stamp duty rules:

Stamp duty is charged on the proportion of the price that sits in a band Purchase price band Up to £125,000 £125,001 - £250,000 £250,001 - £300,000 £300,001 - £500,000 £500,001 - £925,000 £925,001 - £1.5m Above £1.5m

the government would loan an extra percentage enabling you to access the better Loan-to-Value (LTV) deals on offer. Broadly, the lower the percentage of funds you require from the lender, the lower the interest rate may be. As part of that process you may also look to what’s known as the Bank of Mum & Dad to help get some, or all, of that deposit together. In 2019, the average contribution from mum, dad, other family members and friends amounted to a sizeable £24,100, assisting almost 260,000 property purchases.

Standard rates for a residential property

First-Time buyers

0% 2% 5% 5% 5% 10% 12%

0% 0% 0% 5% 5% 10% 12%

* Different rules apply to Scotland and Wales.

HM Revenue & Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.

Some parents might be wary of providing a deposit for a child who may be moving in with a partner, should they break up down the line. To counter this concern there are other ways that financial support could be provided, such acting as a guarantor, which might provide some ring-fencing. Outside of this, options such as shared ownership might also be worth investigating, which could help reduce the upfront costs.

Our offering The irony for many will be that they could be paying more on monthly rent, than they would for a mortgage, proving they can afford the payments - but unfortunately, it’s not as simple as that! To take the first step onto the property ladder, it makes sense to have a conversation with us as early as possible in the decision-making process. We would help navigate you through the affordability, evidencing of income and credit rating hoops, and identify some of the decent deals that are on offer. ■ Your property may be repossessed if you do not keep up repayments on your mortgage. This firm usually charges a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity. ■ The contents of this newsletter are believed to be correct at the date of publication (February 2020). ■ Every care is taken that the information in the Mortgage & Protection News publication is accurate at the time of going to press. However, all information and figures are subject to change and you should always make enquiries and check details and, where necessary, seek legal advice before entering into any transaction. ■ The information in this newsletter is of a general nature. You should seek professional advice tailored to your needs and circumstances before making any decisions. ■ We do hope that the newsletter is of interest to you, however, please inform us if you no longer wish to receive it.

■ We cover mortgages, insurance and protection products along with a number of other financial areas, so do contact us if you’d like to discuss your financial needs: Tel: 0121 712 6230 Email: sales@xactmortgages.co.uk Web: www.xactmortgages.co.uk

Tel: 0121 712 6230 Email: sales@xactmortgages.co.uk

Steve Froggatt HOW LONG HAVE YOU BEEN WITH XACT? Been with Xact for 5 years WHAT DO YOU LOVE MOST ABOUT YOUR JOB? Helping people find the best deal in as simple a way as possible SOMETHING ABOUT YOU THAT PEOPLE WOULD BE SURPRISED TO KNOW? I met Nelson Mandela on an Aston Villa club tour in 1994 FAVOURITE FOOD? Italian FAVOURTIE TYPE OF HOLIDAY? Whale watching and shark cage diving in South Africa

Conor Brown HOW LONG HAVE YOU BEEN WITH XACT? 18 Months WHAT DO YOU LOVE MOST ABOUT YOUR JOB? Helping people get the best deal for their mortgage but also love making sure that everyone is fully protected SOMETHING ABOUT YOU THAT PEOPLE WOULD BE SURPRISED TO KNOW? I lived in America for 18 months FAVOURITE FOOD? Sunday Roast – so many flavours on one plate FAVOURTIE TYPE OF HOLIDAY? Disney Land as it is a real family holiday. I can’t wait to take my family there. However, I have always dreamt of going to Bora Bora

Colin Jones HOW LONG HAVE YOU BEEN WITH XACT? 5 years WHAT DO YOU LOVE MOST ABOUT YOUR JOB? Speaking to clients on a daily basis and giving them the peace of mind that should the worst happen they will be financially secure. SOMETHING ABOUT YOU THAT PEOPLE WOULD BE SURPRISED TO KNOW? I am a qualified Golf Instructor FAVOURITE FOOD? Italian FAVOURTIE TYPE OF HOLIDAY? Hawaii

Web: www.xactmortgages.co.uk

Meet our Advisors Lee Heycock HOW LONG HAVE YOU BEEN WITH XACT? Since December 2017 WHAT DO YOU LOVE MOST ABOUT YOUR JOB? Solving problems for people who are looking to move but don’t think its achievable SOMETHING ABOUT YOU THAT PEOPLE WOULD BE SURPRISED TO KNOW? Prior to Xact I served in the Infantry as a LCpl in the Royal Anglian Regiment where we toured Afghanistan, Nigeria and Kenya FAVOURITE FOOD? Sushi, looking forward to the new Japanese restaurant opening in Solihull! FAVOURTIE TYPE OF HOLIDAY? A cruise around Italy and the Greek Islands

Mike Hodgkinson HOW LONG HAVE YOU BEEN WITH XACT? 19 September 2001…Day one WHAT DO YOU LOVE MOST ABOUT YOUR JOB? I love putting smiles on our customers faces SOMETHING ABOUT YOU THAT PEOPLE WOULD BE SURPRISED TO KNOW? I have a gold medal for ballroom dancing watch out strictly here I come FAVOURITE FOOD? Sunday Roast FAVOURTIE TYPE OF HOLIDAY? Cornwall, have been lucky enough to travel most of the world, Cornwall is still the best

Dane McCarthy HOW LONG HAVE YOU BEEN WITH XACT? Since January 2018 WHAT DO YOU LOVE MOST ABOUT YOUR JOB? I enjoy interacting with all types of people on a daily basis FAVOURITE FOOD? Steak FAVOURTIE TYPE OF HOLIDAY? Anywhere in Scotland

The information contained herein is of a general nature and should not be relied upon as legal or financial advice and is not intended as a substitute for the same. You should seek professional advice tailored to your needs and circumstances before making any decisions. The contents of this newsletter are believed to be correct at the date of publication (February 2020).

GET MOVING THIS

SPRING

Giving you all you need for a successful spring move; including an outstanding seven day a week service and mortgage advice from a comprehensive list of lenders. T: 0121 712 6230 E: sales@xactmortgages.co.uk W: xactmortgages.co.uk