Home Insurance

Surveyors say house sales activity firm

The Royal Institution of Chartered Surveyors has published its 2011 UK Housing Survey. The main findings are that activity remained relatively firm during December and an increasing amount of new stock came on to the market.

The average number of completed sales per surveyor in the three months to December was 15.2. This is slightly down on the figure for November but is still close to its highest level since the autumn of 2010. Surveyors say that some sellers are asking unrealistic prices, which may be hindering sales.

New instructions edged up for the third consecutive month. However, the RICS survey supports other commentators who say that prices continued to fall across much of the UK. This may not be very be good news for those unoccupied property insurance clients who are thinking about out putting their property on the market this year- unless of course they own a house in London where the surveyors believe prices rose in December.

Most people seem to think that the market will be pretty flat in 2012 because of worries about the Eurozone and the UK economy. If you are thinking about selling an empty house this year you might like to take a look at the RICS survey- go to www.rics.org

Swapping Your Home for the Holidays

The challenging economic conditions in the UK at present mean that many Brits are looking for cunning ways to save money. As is so often the case, luxuries are the first to go – and pricey holidays would fall into this bracket.

One way to save some money is to swap your home – temporarily that is. Many families are starting to discover the possibilities offered by swapping their home with other families, in lieu of an expensive getaway. While it is true that those who live in more glamorous locations will be able to do this more easily, even if you don’t live in the most exciting city, you may be near special facilities such as indoor ski centres, 3D cinemas, unusual museums, beaches or national parks.

While the notion of swapping your home on a temporary basis for a holiday is more popular in the United States than the UK, interest is picking up here too.

Those who own a holiday home could also benefit from this idea – especially since they are likely to be located in a very desirable location. Be sure, however, to check with your holiday home insurance provider before you go ahead with any swap.

Consultation on Council Tax

The government is consulting on making mortgage lenders responsible for council tax if they have evicted borrowers from their homes. At the moment the property is usually exempted from council tax if a mortgage lender takes possession. The Council of Mortgage lenders has come out against the proposal, saying that if lenders had to pay the tax they would have to pass it on to their customers in some way.

One of the arguments raised by the CML is that the idea behind council tax is that it pays for services to be provided to local people. A mortgage lender who takes possession of a property will make very little use of council funded services. Many of our unoccupied property insurance clients would agree with this. The subject of who pays the council tax on empty houses is a complex one. If there are tenants in the property they will normally be liable for the tax but if they move out then the landlord will probably have to pay the bill.

The CML are arguing that if the government wants to collect “forgone” tax they should make the legal owner responsible for it and encourage local authorities to pursue them as debtors. The CML calculate that some 36,000 properties were taken into possession in 2010 with a similar number likely to be seen for 2011. Lenders are only allowed to take possession of a property once they have made all reasonable attempts to resolve the position with the borrower. The lenders have to comply with the Mortgage Pre- Action Protocol which says that possession is a last resort.

If you own an unoccupied property make sure you check with your local authority about liability for the council tax. Most authorities have checklists on their websites.

Taking Due Care When Leaving Your Holiday Home Empty

While taking out a holiday home insurance policy is something of a must for those who own a second home, some property owners are unaware that a certain degree of due care is required for the policy to be honoured. While the precise terms and conditions of each policy can differ, most – or all – will contain some wording that stipulates the owner must do certain things in order to reduce the likelihood of any damage taking place.

With harsh winter weather in the offing, bearing this in mind is especially important. Below are three areas that can lead to an insurance provider claiming negligence on the part of the owner:

Owners that leave their property unheated and/or their water supply on when temperatures are -15C or lower.

Owners who decide to turn off their heating and leave the water supply on when they vacate their property because they do not have much heating oil left.

Owners who do not take the time to inspect their properties before and during particularly cold temperatures; straight forward precautions can prevent burst pipes and thus prevent damage from occurring to a property.

While this list is certainly not exhaustive, it is a reminder of how important it is to read the terms and conditions of your insurance policy – particularly before you are about to leave your property empty during the winter.

If you need a quote for second home insurance contact click4quote.Com Insurance

Tips for Maintaining Your Thatched Roof

While properties with thatched roofs are by no means common, there are still a surprising number across the UK. If you’re fortunate enough to have recently purchased a property with a thatched roof, it is important that you maintain the roof as well as you can. Naturally, taking out a good holiday home insurance or standard home insurance policy is highly recommended for all properties, but aside from this safety net there are a number of practical things you can do to ensure that your thatch remains in good condition for as long as possible, and is able to cope with poor weather conditions.

Once you move in, try to establish early what condition the thatch is in. Do not make the assumption that just because the roof looks a little dirty or because the straw is slipping that the roof is in poor condition. Equally, do not assume that if the roof looks trim and tidy, that it is in good condition. By ensuring you repair your thatch in a timely manner, you may be able to significantly extend the life of the roof. It is a good idea not to move around on your thatch unnecessarily, and not to let others do so either.

It is important not to let non-thatchers fix netting, flashing or such additions as TV aerials to the roof without the advice of an experienced thatcher. With this in mind, you should always seek advice from a professional thatcher before making any changes to your roof. The cost will be repaid many times over by extending the life of the roof.

Choosing a Holiday Home in Cumbria

If you’re fortunate enough to be in the market for a holiday home, you’ll soon realise that getting the finance to make the purchase is only the first step. Choosing a location and holiday home that suits your needs and lifestyle is equally important – and in some ways also very challenging. One part of the UK that has long been popular among holiday home owners is Cumbria, largely due to its beautiful countryside – much of which can be found in the world famous Lake District National Park.

A holiday home in Cumbria is best suited to those who love the countryside and are less keen on the city; in fact Cumbria has no cities. Instead, the outdoors provides ample opportunity to enjoy walking, hiking, cycling and even more adventurous pastimes such as rock climbing.

Before you can think about buying a home in this region and going about all the practical arrangements – such as taking out a holiday home insurance policy for example – consider if you are ready to make the transition to Cumbria. For those who have spent a large portion of their lives in cities, the change can be dramatic; a quieter, more laid back approach to life should be expected. But along with more peaceful surroundings, you may well find very friendly locals and a sense of community that may be lacking in more built up areas.

Check your security measures to keep your insurance in force

Unoccupied property insurance clients need to give careful attention to the security measures they have put in place to keep the property safe. Checking the insurer’s requirements is also a good idea. Most insurance policies require you to have door locks of a certain standard. It is easy to assume that your property, whether it be your own home or an unoccupied one has suitable locks on all the doors or windows. If you are insuring your own house as an owner occupier it is easy to check but this is not the case with a let or unoccupied property that might be miles away. The worst thing you can do is assume that the security precautions comply with your insurers’ requirement- there is no alternative to checking them yourself or asking someone else to do it for you.

Most insurers will require five lever mortice locks conforming to BS 3621 and there may be special rules about patio doors so check your policy. If you fail to meet the standards set in your policy you may find your claim turned down. It is a good idea to change the locks periodically; especially if you know that several people have been given keys but you can only account for a few of them.

If you would like information about unoccupied property insurance visit www.click4quote.com

Renting Your Property: The Garden

First impressions count, and when you’re trying to rent a property, this should be at the forefront of your mind. While the first room your potential tenant sees should of course be as well presented and as tidy as possible, the garden can play a significant role in making your property more attractive. Many people see the garden as an important lifestyle feature of a home, and especially important for those who enjoy gardening, summer time barbecues, or for simply relaxing in. Consider the following tips and you may soon be switching from unoccupied property insurance to landlord insurance.

Firstly, take some time to see the garden objectively; put yourself in the shoes of a prospective tenant. Remember that if a garden looks tidy, it gives the impression that as a landlord you really care about maintaining your property. Ensure any garden tools are stored tidily away – ideally in a garden shed. Next, look at the natural features of the garden – are you making the most of them?

Ensure leaves are raked away and that the grass is cut on a regular basis – if you only cut your lawn once every few months you’ll soon be inundated with weeds. It is also a good idea to invest in some flowers for the borders of the garden – if you don’t have any borders, consider creating some. Choose a range of flowers suited to the various seasons so that your garden is in bloom for the longest possible time during the year.

By investing time and energy into your garden, you are increasing the chances of renting out your property. If you don’t have time to do it yourself, consider hiring a reputable gardener who may be able to do it more quickly and effectively than yourself.

Be Prepared Storm and Flood Resources

Preparation is everything, and when it comes to storms and floods this is doubly true. Dealing with flood or wind damage can be a very costly and stressful experience, but there are steps you can take so you are as ready as possible to deal with such conditions. While having the right insurance policy – be it holiday home insurance, unoccupied property insurance or one of the various other types of insurance on the market – is of course very prudent, on a practical level there are a number of other precautions you can take.

There are various agencies in the UK that have been set up especially to keep the public informed about incoming storms and floods. Keeping tabs on the Met Office’s website is a very effective way of keeping up to date with the weather – weather which in the UK can change very quickly indeed. If you’re a Twitter user, you might find it easier to keep updated by following @metoffice.

The Environment Agency website provides information about flood warnings currently in force, together with data on river and sea levels in your part of the country. By signing up to the Flood Warnings Direct service on 0845 988 1188 you can receive warnings by phone, text, email or fax. Once again, you can follow the Environment Agency’s twitter account – @EnvAgency. There are also Environment Agency Twitter accounts for the various regions of the UK.

Rightmove points to market fragmentation

If you are an unoccupied property insurance client you will probably be keeping an eye on the sales market. Take a look at Rightmove.co.uk where you can see the Rightmove House Price Index for December 2011.

The key points are:

• 2011 ends with national average asking prices little changes (+1.5%) on a year ago.

• The key to buying and selling in 2012 will be being “micro-market savvy”.

- Sellers must analyse their local competitive edge in terms of location, accommodation and price.
- Buyers could find areas with a lack of choice and high prices, or a glut of bargains, all within a few miles of each other.

Miles Shipside, director of Rightmove explains:

“The market fragmentation caused by the credit crunch means that success in selling now requires a very careful and complex local market analysis”.

If you would like to find out about unoccupied property insurance visit www.click4quote.com

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