Unoccupied Property Insurance

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.

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.

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

More Snow and High Winds Forecast Across the UK

Recent snow, ice and wind across the UK is set to continue, with Scotland to be particularly badly affected. Snow fall of up to 10cm is expected, along with winds of up to 60mph; while not as high as previous 80mph winds, conditions are likely to cause severe disruptions to traffic.

For those with properties that are not presently occupied, it is a reminder of how important it is to prepare for extreme weather conditions. As well as taking out unoccupied property insurance, there are a number of precautions property owners can take to reduce the risk of damage being caused by wind and freezing temperatures.

If you haven’t already, consider how well insulated your home is; good insulation can reduce the likelihood of suffering a burst pipe. Equally, shutting off the water at the stop cock and draining the pipes in the house is another effective way of countering the risk of a burst pipe.

When it comes to preparing for the wind, take some time to inspect your fences and ensure they are as secure as possible. Additionally, ensure that there are no objects near the windows of the property – nearby branches, for example, can break windows in high winds. If you can, inspect your roof for loose tiles, or pay a roofer or handy person to do it for you. Have any loose tiles replaced or repaired.

With wintry weather in full swing, there may be several more months of bad weather to come, so it’s never too late to prepare.

Escaping to the Sun? Make sure your empty property is covered

Many thousands of Brits decide to flee our chilly temperatures each winter, taking up residence in warmer climes for as long as possible. If you’re lucky enough to be able to get on a plane and head for the sun this winter, make sure you consider your unoccupied property insurance needs fully before you go.

While many individuals, couples and families will only jet of for a couple of weeks, others may have a longer period away in mind. If you are intending to stay away for months rather than weeks, you should take the time to look over your home buildings and contents insurance policy and ensure it allows for the vacant period you will be away.

If you do find that your home policy does not cover the period your property will be empty, you should contact your provider as quickly as possible and find out what to do. Other insurance options or upgrades may be suggested, such as specialist unoccupied home insurance.

While it can be tempting to simply jet off and leave thoughts of the UK behind you, with increased risks from storms and floods arising in the winter months – as well as the ever-present risk of burglary and other threats to your home – making sure your vacant property is covered during the winter is perhaps more important than at any other time of year.

Squatters Rights

We know from talking to our unoccupied property insurance clients that one of their main worries is that squatters might take over their empty house. If this happens it is essential to apply to the local court immediately for an Interim Possession Order. It should only take a few days to obtain and once it is served on the squatters they must leave within 24 hours. If they fail to do so they are committing a criminal offence and the police should be involved.

The idea of squatters’ rights comes from the fact that landlords cannot force their way in to their properties against the occupants’ wishes. It also refers to the fact that several years of squatting could give the occupier the opportunity to try to claim a possessory title to the land.

It is essential to obtain specialist advice if you are worried about this area of the law. If you are worried about unoccupied property insurance visit; www.click4quote.com

Choosing a Quality Conveyancing Firm

In these more challenging economic conditions it can be tempting to cut costs in all aspects of our personal and working lives, but when it comes to insurance – be it holiday home, buy to let or unoccupied property insurance, to name just a few – a quality product is crucial to ensure real peace of mind.

The same can be said of conveyancing. Most of those in the know would urge you to pay for the best conveyancing service you can afford; unless the purchase you have in mind does not have the merest whiff of a problem.

The choice of conveyancing options is huge, and can often be confusing if you’re new to it. Among the traditional solicitor services are licensed conveyors and a whole host of online products. These one-stop-shop online affairs are nearly always cheaper than more established services, but can often fall short if anything other than a straight-forward case is in the offing. Such e-conveyancing products are provided, usually, from a call centre far away, and if issues such as boundary disputes or restrictive covenants rear their heads, you may find the online product wasn’t such a good purchase after all.

Larger local firms, while pricey, may offer more peace of mind, while smaller local ones may be cheaper but more overworked – and therefore slower.

Essentially, the best option is too seek out an experienced firm with a good reputation, even if doing so does cost a little more.

If you are selling a property or waiting for your property to be occupied and you require unoccupied insurance contact click4quote.com online insurance brokers

New scam hits empty shops

Unoccupied property insurance clients need to be aware of a new scam whereby squatters move in and start trading from empty commercial premises. In Bath a group recently took over an empty store and immediately started running a retail business.

Property experts say that people from London are going round the country identifying likely sites and they then arrange for a friendly locksmith to change the locks and leave the doors unsecured. The squatters move in and when the police arrive they say the doors were open. It is then a civil matter and police involvement is limited.

Retailers are already suffering in the economic downturn and the last thing town centre traders need is competitors who pay no rent and rates! Always keep a careful eye on your empty building and if you need unoccupied property insurance contact www.click4quote.com insurance

Shortage of stock at the top of the London market

Unoccupied property insurance clients must be wishing they could move their houses to central London. WA Ellis, the central London agents report that the super prime end of the market is becoming more and more active in central London. They say “the uber rich will now rent or buy due to the lack of stock on both the lettings and sales markets in order to secure their chosen property”

If you would like to get a feel for the top end of the London property market take a look at the WA Ellis blog on their website. On October 7th they blogged that a block of 10 flats they brought to the market 2 weeks earlier had all been let at the asking prices.

They have also noticed an increasing amount of British people renting. They say that the dominance of Americans in the prime central London market has reduced in recent years- down from something like 70% to nearer 50%.

The WA Ellis website is at www.waellis.co.uk

For help with unoccupied property insurance visit click4quote.com insurance

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