Building Solutions (Midlands) Blog » Derby

Buy to let booming as banks back landlords again

Richard — Fri, 03 Feb 2012 06:20:29 +0000

Although young home owners are struggling to obtain suitable mortgage finance experienced buy to let landlords are enjoying an ever increasing pool of mortgage capital. It’s all about the banks mitigating risk, why lend to young first time buyers with a limited track record when you could lend at a lower gearing to experienced investors with a proven track record and other security in the back ground? There is said to be a hundred more deals on offer than there was a year ago and the increased competition is leading to better deals. In the last year the average buy to let rate has dropped from 5% to less that 4.8% which on typical buy to let margins has a great affect on landlord’s bottom line. This is like a self fulfilling prophecy as first time buyers struggle to get mortgage funding they are forced to rent and that’s another tenant for the buy to let landlords.

Move or improve with a home extension

Richard — Sun, 29 Jan 2012 20:41:01 +0000

With spring just around the corner and Christmas becoming a distant memory, is now the time to make a decision on if you should move or improve your home. With the continuing mortgage drought and challenging housing market conditions many are choosing to stay put. So how can you improve your current home? Well many home owners traditionally have opted for loft conversions. With ever increasing thermal efficiency to buildings through tighter building regulations often a home extension offers better value. This is a good time of year to start planning your project and applying for the relative permissions. Usually a planning application is required for larger home extensions. All new house extensions require building regulation applications to check they comply with building regulations. So don’t let another year slip by get your home extension project planned for a successful home extension build this summer.

Top ten tips for building a home extension

Richard — Sat, 28 Jan 2012 17:07:12 +0000

1. Make sure you know how you want to use the space and design a home extension that fits your needs and your type of property.
2. Chose a design and build company or an architect that specialise in the type of home extension that you are planning.
3. Do not let permitted development rights effect your decisions too much, you could save the planning application fee only to find out that you cannot fit that extra sofa in.
4. Make sure you pay attention to the detail, a well planned project is easier, quicker and cheaper to build than one that needs designing as it is built.
5. When choosing your builder ask to see other examples of their work, do they have references? Do they work with others within the property and construction industry?
6. Make sure you match things like roof tiles, brick types and bonds so that your home extension blends in with the original building.
7. Be prepared for the disruption, there will be skips, dust and delivery wagons, can you plan things so your contractors can have their own access or have the area fenced off? Ask your builder to provide a site toilet so they do not need to walk through your house.
8. Try and get as much of the project controlled and contracted to a main contractor so if there are any issues there is a clearly responsible person.
9. If you chose bespoke lintels or unusual design features be aware they may add time to the project as well as costs.
10. Remember to enjoy your project, chose a contractor who is genuinely excited about your project and does not see it as just another job.

£100,000 pounds lost in your garden?

Richard — Sun, 22 Jan 2012 08:41:18 +0000

Is your garden a potential development site? Could it be worth tens of thousands of pounds? If so how do you know? Well the answer to most people and even novice property developers is that they do not. So how do you liquidate that cash tied up in a side or rear garden the first step is to obtain the “planning gain”. This is the uplift in value of the site or property when planning permission is granted, the next pocket of cash is the developer’s profit. This is the profit obtained by the developer who takes the site to a saleable finished dwelling or other building. The planning gain can vary massively dependant on many variables. The developers profit can also vary greatly but most developers look to take profits between 12-18 percent dependant on the risk of the build and the saleability of the finished product. The profit is the gross development valve (GDV) minus the build costs, land value and soft costs. So how do you find the profit? You need to find a good planning consultant and a joint venture partner, they will take you through planning and offer you a profit share when the development is completed.

Restoring a period cottage

Richard — Sat, 21 Jan 2012 20:56:55 +0000

It is not just about the building to make the most of a period cottage you will need to pay attention to the garden, it makes such a difference to the overall feel of the project.
Make sure that you do your research, read plenty of books on the type and period of property knowledge is power in the world of restoration. Overlooking the correct paint sheen will destroy the appearance of those lovingly restored windows, so don’t be afraid to mayor in the minor!
Pay attention to local variations in the period and style of the property you should be able to find local enthusiasts groups who can share a wealth of knowledge.
Remember how ever passionate you are about period property you do not have to live in a museum, the people who built these wonderful properties would want to see them sympathetically modernised but most defiantly in everyday use, so the legacy of their toil lives on.
With that said please be aware of your legal obligations particularly where listings and the conservation department are involved.
Always go for reclaimed materials where possible and practical, it is so much easier to get the atmosphere of a period building right with well chosen reclaimed items.
Look for a nice mix of antiques and contemporary furniture to compliment your period property interior

Gap widens as prices in the North head South

Richard — Tue, 17 Jan 2012 21:03:40 +0000

Rightmove has put the fall in UK house prices at 0.8% and even more alarming is the dramatically low levels of transaction volumes. These are currently running at their lowest level since rightmove records began. The interest in property buying is defiantly there as rightmove reports a 27% increase in searches in the same period last year. This gives a search level above 44million, since records began in rightmove these are the highest ever seen. With London prices jumping 6 percent in the previous 12months the gap is getting bigger.

Underpinning specialists Derbyshire

Richard — Fri, 13 Jan 2012 20:02:53 +0000

Underpinning is a word that strikes fear into many home and property owners so why? Because in many cases it can be a slow and expensive process, this is because it requires repair, replacement and upgrading of the original footings. Some structural issues relating to foundation defects can now be resolved through the use of piles or mini piles. So how do you know if your property requires underpinning? Often the signs are bulges and leaning to the brickwork or cracks particularly around window and door openings. One very important consideration is like your own health certain issues and symptoms require more immediate attention. So if you have any concerns about the need for underpinning you should contact a reputable structural engineer or building contractor that specialises in structural issues.

How to choose a builder for my home extension?

Richard — Sun, 23 Oct 2011 06:56:39 +0000

Many home owners are bombarded with sales letters when their planning application is passed. This is because building companies check on line and send out a standard letter asking to be considered to price up the home extension. The best way to find a reputable builder is through word of mouth from someone who has experienced their work. So what do you do if you cannot find a good builder for your house extension through word of mouth? Well it is easy to find a builder and easy to get them to price up the work. The most important thing on your wish list should be quality you are about to embark on a once in a life time project to your most valuable asset, your home. After you have paid the final bill the most important consideration is that you will have to live with the finish and quality forever. So ask your builder to provide you with photographs of home extension projects they completed. Ask for references from previous customers and industry professional. Good home extension builders will have good working relationships with structural engineers, surveyors and architects. These professionals are careful of who they recommend and will give you their honest opinion of a contractors performance.

Adverse structural survey scuppering your property sale or purchase?

Richard — Sat, 22 Oct 2011 18:37:41 +0000

Have you found your dream home only to find out it has some structural issues? Frightened by structural problems? Worried about underpinning? There are many issues that can affect properties but those affecting the structural integrity of a house or business premises are the ones that concern buyers and sellers the most. So what is the best course of action if the survey comes back with structural issues? There are two positive steps that can be taken dependant on the issues concerned. If it is a simple defect like a defective lintel most competent building contractors should be capable of pricing up a sensible structural solution. If the problems are more serious you need a good structural engineer who will be able to provide recommendations and the best value solutions. For just a couple of hundred pounds you could save thousands by avoiding unnecessary work or missing out on your dream property. Many people are very concerned about structural issues that can often be resolved for less than a year’s mortgage payments. Interestingly many people go ahead with property purchases only to find out later that structural problems exist that have been concealed. How often have we heard “we did not know anything about it until we took the render or plaster off”. Whatever the structural issue it is without a doubt sensible to get an expert opinion. Often there can be temporary fixes that might not last but can save thousands in the long term.

North South house prices at most disproportionate levels in history

Richard — Tue, 18 Oct 2011 06:24:15 +0000

Rightmove latest house price index shows price rising in the south by 4.7 percent this month as they fall by 0.7 percent in the North. Since the worst period of the economic challenges prices in the south have still risen by over 5 percent while prices in the North are down just short of 10 percent. Not surprisingly the figures mirror the regional unemployment figures with lower prices in those areas blighted by higher unemployment. Sentiment always drives house prices and when buyers are concerned they could lose out on their perfect home because competition from fellow house hunters is high they pay more. Those who chose to buy in areas with less buyer competition are more likely to try a cheeky offer and drive prices down further. Good news for all is that new UK mortgage approvals have hit the highest levels for two years.