Ryder and Dutton Celebrate the Tour De France!

The Tour De France arrived in Yorkshire earlier this month on the 5th July and Ryder and Dutton were ready to Celebrate as the Tour De France has not visited England since 2007, and this was also the first time the race has ever visited the North of England!

To start the celebrations all of our branches held a ‘Wear it Yellow Day’ on the 2nd July with members of staff dressed in Yellow in exchange for a donation to charity. The donations will be split between the five local hospices we support which are Willow Wood Hospice in Tameside, Dr Kershaws Hospice in Royton, Springhill Hospice in Rochdale, Kirkwood Hospice in Kirklees and Overgate Hospice in Halifax.

An estimated one million cycling fans gathered in Yorkshire on Saturday 5th July as the 2014 Tour De France was given a royal send-off in Leeds, before passing through Holmfirth on the Sunday.

Many of our properties for sale in the area held open days for the weekend and our Holmfirth branch was open on the Sunday to watch the race and offer refreshments to the gathering crowds!

 

The Yorkshire departure of the race was undoubtedly a huge success which brought a staggering number of visitors to the area and we were delighted to be able to celebrate the event, cheer on the riders and support our local hospices.

 

Surveyors believe the market is Stablisiing

Surveyors reveal that Valuations fell 15% in April compared with March, as the market cooled off slightly following the implementation of new mortgage rules.

Connells Survey and Valuations report the figures for all property valuations in April 2014 was exactly the same as the number of valuations for all property in April 2013, following a drop of 10% in the previous month. Annual growth of 0% reflects a more stablised housing market.

The new mortgage rules were in place on 26th April 2014, however many lenders started to enforce the new mortgage rules ahead of this date.

Although the figures have stabilised year on year the break down in the market place was different as first time buyers accounted for 3% more of the valuations carried out and established home movers 13% less.

The Office of National Statistics also reports house price growth has been easing off, with UK annual house price growth at 8%, although the North West house price inflation was 3.1%.

Brian Murphy, head of lending at Mortgage Advice Bureau, commented on the findings: “It’s welcome news that house price growth is slowing after some dizzying rises in recent months. Putting the capital and South East to one side leaves us with a far more measured and controlled upwards trend. There are signs that the upwards momentum in the housing market is cooling slightly.

“As for the mortgage market, with the new affordability rules keeping lenders under a tight rein, decisions to offer credit are being taken with clear heads and a full and honest appraisal of borrowers’ finance.”

Preparing Rental Accommodation for the Market

If you are looking to rent your property out make sure you follow some simple steps to help secure a tenant as quickly as possible.

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If you are a landlord of a property you will understand the worry of having void periods between tenants. Having a rental property stood empty for long periods between tenants can be incredibly frustrating, as well as costly.

Here are our top tips to help you find a tenant for your property as quickly as possible.

1. Clean the property thoroughly

Even when a tenant cleans a property on departure you can often find giving a rental property a thorough spring clean can help smarten the property up and increase its appeal to potential tenants.

2. Think Practical!

Always remember that a rental property is not your own home so rather than choose furniture and colour schemes that suit you, it’s much better to go for practical and neutral colours and furnishings that will appeal to everyone. Materials that are hard wearing and durable are ideal for rented accommodation.

3. Check for any urgent repairs

Is there any work that needs to be done on the property? Are there any areas of repair that might put potential tenants off?  It is much better to get any work the property needs completed in between tenants – that way access to the property isn’t a problem, the repairs won’t disrupt your next tenant and a potential tenant will not be put off from applying for the property.

4. Storage Space

Plenty of storage space can be very appealing to tenants. Ensuring there is somewhere for the iron and ironing board, children’s toys and general storage so make use of any storage space or cupboards that the property has. If there is limited storage space available,  you may want to consider some inexpensive free standing storage.

5. Don’t forget your gardens

The outside of a property is often the first impression a tenant will have of your property so make sure your gardens are tidy and paths weeded and swept.

When marketing your rental property we will help advise if there is anything that needs to be done at the property to help secure a tenant. Sometimes very small improvements can help save time and money in the long run and help avoid any costly void periods.

 

Manchester has been revealed as a buy-to-let hot spot

It’s a good time to buy property to let as Manchester is revealed as a buy-to-let hot spot with the second highest yields in the country.

Manchester has been revealed as a buy-to-let hot spot with the second highest yields in the country.

The latest data on buy-to-let returns from lender HSBC, figures from the ONS (Office of National Statistics) and the land registry reports that Southampton tops the list of the strongest rental returns with a yield of 8.73%, closely followed by Manchester with a rental yield of 7.98%.

Manchester and its surrounding districts can be ideal for the purchase of buy to let properties based on the relatively low house prices available in the area coupled with the large demand for rental properties.

Manchester is also a sought after location for rental accommodation as it boasts a large student community that contributes to the rental demand of the area, as well as Manchester being home to many young professionals.

More than a quarter (26.85%) of properties are in the private rented sector in Manchester.

As members of NALS (National Approved Lettings Scheme) and ARLA (Association of Residential Lettings Agents) we understand the rental market and can help advise you about the rental market.

Whether you are thinking of purchasing a property to rent out, or you already own a property talk to us today on 0161 925 3255.

 

 

Are you thinking of selling a property at Auction?

Auction House is the country’s largest residential Auctioneer in terms of lots sold so if you are thinking of selling property at Auction talking to us is a good place to start.

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Auction House is the country’s largest residential Auctioneer in terms of lots sold so if you are thinking of selling property at Auction talking to us is a good place to start.

Although sale by Auction might not suit every property there are many cases in which offering a property for sale by Auction is the best method of sale, and there are many ways in which an auction can benefit you and the sale of your property.

Speed of Sale

One of the main advantages of selling through auction is the speed of the process. If you are in a rush to sell then Auction could be the right route for you. You will immediately know the date of the auction and legal completion will usually take place 28 days after this date. Most importantly, this time-scale is fixed and binding for both the buyer and seller.


Chance of Success

Auction gives you a greater likelihood of selling your property than by private treaty. Auction House boasts a success rate of over 80% sold properties which means a great chance of success for your property. For a certain sale you really should consider the auction route.

Legal and Binding

When your bid at Auction is accepted as the highest bid, contracts have been exchanged. The buyer is legally committed to the purchasing of the property and, therefore, cannot change their mind. Through auction there is much more certainty in the sale from the outset than in sales on the open market where there is a chance that the sale may fall through.

No Re-Negotiation

With Private Treaty sales the price agreed often isn’t the price you finally receive. With Auction there is no renegotiation, no discounting to take account of survey findings or any last minute gazundering. With Auction your buyer will have fully researched the property’s condition prior to bidding and cannot reduce the sale price after the hammer has fallen.

 

Competitive Bidding

An auction atmosphere creates more competitive bidding. Through auction you would hope to have two or more prospective buyers bidding for the property. Furthermore, people find it very difficult to stop bidding when they are at auction and so the competitive atmosphere may spur them on to make just one more bid. However, if we have a strong bid for the property prior to Auction which we don’t think will be beaten on the Auction day we can recommend that you accept it under Auction rules.

 

Exposure

Your property, once entered into Auction, will be marketed heavily via local newspapers, on the internet and through our database of potential buyers. Furthermore, it will become part of our Auction catalogue which is available electronically and as a hard copy. Any viewing dates are also advertised online. We set up open viewing days for your property. Each viewing is hosted by a member of our Auctions team, who can talk knowledgeably about the potential that your property offers and answer all manner of questions from prospective buyers.

Speak to us on 0161 925 3254 about arranging an inspection of your property to see if selling by Auction could be the right route for you.

 

Gross mortgage lending 12 percent higher than last year

Figures released by the Council of Mortgage Lenders reveal that gross mortgage lending was 12 percent higher than May 2013 and gross mortgage lending in May was an estimated 16.5 billion GBP.

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Gross mortgage lending held steady in May compared to April but was still 12 percent higher than May 2013. Figures released by the Council of Mortgage Lenders show that gross mortgage lending in May was an estimated 16.5 billion GBP.

This is identical to April’s gross lending total and is 12 percent higher than May last year (14.8 billion GBP).

Brian Murphy, Head of Lending at Mortgage Advice Bureau (MAB), comments:

“After several months of growth, the mortgage market is currently operating at a more regular pace with lending activity holding steady in May. Although we’re yet to see the full impact of the Mortgage Market Review (MMR), it appears to have taken some heat out of the market and set mortgage lending on a steady course.

“Affordability is hardwired into the mortgage market more than ever before, meaning that only consumers that can demonstrably afford their repayments both now and in the future will be granted a loan, minimising the chance of financial difficulties further down the line. We have already seen a noticeable impact on the typical mortgage applicant, with average deposits rising along with buyers’ incomes between April and May while the average loan to value (LTV) fell.*

“With MMR already introducing a more stable tempo to the mortgage market, the government should resist making any rash decisions in a bid to tackle rising house prices. Only time will reveal the true shape of the mortgage market once the new rules have bedded in, and now is not the time to impose limits on lending: doing so could effectively clip the wings of the market before it has had a chance to fully recover.”

* Mortgage Advice Bureau, National Mortgage Index, May 2014

 

Original Article: Mortgage Advice Bureau

 

Great Development Opportunity in Holmfirth

We are currently marketing a residential development plot, which is sure to be popular,  situated just outside Holmfirth.

The plot has outline planning permission for eight dwellings and the site is currently occupied by two buildings. The first fronts onto Greenfield Road and is an outbuilding used as a Workshop whilst the second is the detached Residential dwelling known as 106 Greenfield Road.

The approval including access from Greenfield Road for 8 dwellings each standing in good sized gardens. It also involves the demolition of the existing dwelling and workshop. Planning permission was granted on the 23rd January 2013. Application Ref: 2012/60/91909/W.A copy of the planning permission and detailed plans can be obtained upon request.

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For details click here or speak to our commercial team on 0161 925 3232.