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Michael Fyffe

Win a £50 John Lewis Gift Card with Truuli

If your home is in need of some autumn love then we have a fantastic competition for you. We are giving away a £50 John Lewis gift card!

John Lewis is a favourite amongst home owners looking for products to help them with a spot of DIY or general home decor.

Whether you want something for your kitchen, bathroom, bedroom or garden; John Lewis will have the product for you. Head over to our twitter page @truuli and retweet one of our promotional tweets to enter.

Good Luck!

Truuli.co.uk competitions have the following Terms and Conditions (see below). If you have any questions regarding our competitions, please contact our marketing department at marketing@truuli.co.uk.

Terms and Conditions

  • The prize on offer in this competition is a £50 John Lewis gift card
  • There is one gift card in total
  • Only one entry applicable per username
  • Entrants must be at least 18 years of age and must be a resident of the UK
  • The competition is not open to employees associated with Truuli.co.uk, their immediate families or associated companies
  • Prizes may not be transferred to any other person and there are no cash alternatives or alternative prizes available
  • Winners will be randomly selected from all valid retweets or new followers on Twitter: mention tweets do not count
  • The competition winners selected must respond within 7 days of confirmation to claim their prize
  • The decision of Truuli.co.uk is final and no correspondence will be entered into
  • The competition end date is Wednesday 31st October 2018; Truuli.co.uk reserves the right to close the competition early

Truuli takes on Shelter’s Vertical Rush Tower running challenge

Child homelessness in England is at the highest level since 2007
Some children live in housing that’s making them ill. Many are missing out on a decent education. Others suffer chronic insecurity, shuffled from place to place in temporary accommodation.

Access to decent affordable housing must be at the heart of any strategy for improving the life chances of children and young people and reducing child poverty.

Shelter are on the front-line providing services to families at their time of need and we would like to do our bit to support their efforts.

Vertical Rush 2019

  • 932 Steps
  • 42 Floors 
  • 1 epic experience

Shelter would love your support, Please donate by clicking the JustGiving link below.

JustGiving - Sponsor me now!

Sky News Reports UK is facing five housing crises at once

Sky News research suggests government plans to build hundreds of thousands of new homes is unlikely to solve the housing crisis.

The UK is facing not one but five concurrent mini housing crises – each with dramatically different consequences and solutions, research from Sky News finds

They are:

:: A supply crisis: The traditional housing crisis most often referred to by politicians, with not enough homes to fill the demand

:: An under-occupation (distribution) crisis: In many parts of the country there are more than enough bedrooms for every potential household, but many of those bedrooms are left empty in big homes, pushing some potential homeowners out of the market.

:: A demand crisis: With some areas of the country facing weak income growth and a slow local economy, there are many regions and towns with more homes than buyers.

:: A quality crisis: For many homes, the big problem is neither supply nor demand but the state of the building. Much of the country’s accommodation has fallen into disrepair.

:: An affordability (access to credit) crisis: In many regions buyers are struggling to get onto the ladder because they simply can’t raise the necessary funds. Meanwhile in some areas cheap credit for the well-off has pushed up house prices disproportionately.

Great article from Sky News with some fantastic analysis on the range of issues currently affecting the UK property market. It’s great to see some commentary on various locations within the UK as opposed to comments attempting to diagnose the market as a whole. As detailed in Ed Conway’s article, there are different issues affecting various areas such as Ceredigion, Blackpool, Liverpool and Thanet; where we reported in a recent article (regarding the rental sector) that a high proportion of homes are old and in disrepair.
 
As reported within many parts of the UK – albeit most commonly London and the South East – the market is determined by how easily and cheaply prospective purchasers can borrow funds rather than by measurement of actual housing needs. Second homes are very popular with many budding investors who now look at buying family homes with the intention of applying for HMO licences.
 
Interestingly enough and despite all the current scaremongering taking place with regards to Brexit, demand for properties in London remains extremely high. Whilst we are most certainly in what industry professionals call ‘a buyer’s market’, there are still many properties having sales agreed within a short time of entering the market. In this situation, vendors price their properties competitively in relation to others, rather than opting to market with the agent that provides the highest valuation.

Michael Fyffe,  Truuli Property Expert

The Responsible Gas Safe Renting Guide

Badly fitted and poorly serviced gas appliances can cause gas leaks, fires, explosions and carbon monoxide poisoning. Every year thousands of people across the UK are diagnosed with carbon monoxide poisoning. It is a highly poisonous gas that can kill quickly with no warning, as you cannot see it, taste it or smell it.  

Follow these few simple checks to keep you and your family safe.

  • Check your Landlord’s Gas Safety Record. By law, your landlord must keep gas pipework, appliances and flues supplied for you to use in good condition. They must arrange a gas safety check of the appliances and flues every 12 months and give you a record of the check.
  • Check any gas appliances you own every year. Gas appliances should be safety checked once a year and serviced regularly by a Gas Safe registered engineer. Set a reminder so you don’t forget at StayGasSafe.co.uk.
  • Check your engineer is Gas Safe registered. You can find or check an engineer at GasSafeRegister.co.uk or call 0800 408 5500.
  • Check your engineer is qualified for the type of gas work you need doing e.g. natural gas, domestic boiler. You can find this information on the back of their Gas Safe ID card and the Gas Safe Register website.
  • Check for warning signs that your appliances aren’t working correctly, such as lazy yellow /orange flames instead of crisp blue ones, black marks on or around the appliance, a pilot light that keeps going out and too much condensation in the room.
  • Know the six main symptoms of carbon monoxide poisoning – headaches, dizziness, breathlessness, nausea, collapse and loss of consciousness.
  • Have an audible carbon monoxide alarm. This will alert you if there is carbon monoxide in your home.

Landlords are legally responsible for the safety of their tenants. Landlords should make sure maintenance and annual safety checks on gas appliances are carried out by a Gas Safe registered engineer.

If you’re a landlord, you are legally obliged to make sure:

  • Gas pipework, appliances and flues provided for tenants are maintained in a safe condition.
  • All gas appliances and flues provided for tenants use have an annual safety check. You can set a reminder so you don’t forget at StayGasSafe.co.uk.
  • Maintenance and annual safety checks are carried out by a qualified Gas Safe registered engineer.
  • All gas equipment (including any appliance left by a previous tenant) is safe or otherwise removed before re-letting.
  • A Gas Safety Record is provided to the tenant within 28 days of completing the check or to any new tenant before they move in.
  • You keep a copy of the Gas Safety Record for two years.

Truuli behind Gas Safety Week 2018

Truuli  has pledged its support for Gas Safety Week (17th-23rd September 2018) and will be helping to raise awareness about the importance of gas safety.

The eighth annual Gas Safety Week sees organisations from across the UK working together to raise awareness of the dangers of poorly maintained gas appliances, which can cause gas leaks, fires, explosions and carbon monoxide (CO) poisoning.

This year, Gas Safety Week is addressing a whole range of gas safety matters throughout the week, from tackling illegal gas work to reminding people to avoid DIY when it comes to gas appliances and instead leave it the experts – registered engineers who are legally qualified to make sure your appliances are working safely and efficiently.

Jonathan Samuel, chief executive for Gas Safe Register, said: “It’s great to see so many people supporting Gas Safety Week this year to help spread important and, in some cases, lifesaving advice about gas safety. It’s so vital that we help people to know not to cut corners with gas and always ask a suitably qualified Gas Safe registered engineer to work on gas appliances at their home to stay gas safe.”

Keep up-to-date with Gas Safe Register’s updates and advice throughout Gas Safety Week by following them on social media (Facebook, Twitter @GasSafeRegister and Instagram) and search #GSW18. 

To keep you and your family safe, follow Gas Safe Register’s top tips: 

  • Know the symptoms of CO poisoning; headaches, nausea, breathlessness, collapse, dizziness and loss of consciousness.
  • If you smell gas or think there might be a gas leak, call the free 24-hour national gas emergency number immediately on 0800 111 999.
  • Never attempt to work on a gas appliance yourself, always seek the help of a qualified Gas Safe registered engineer who can work on your gas cooker, boiler or fire in a safe way.
  • ‘Don’t cut corners’ and always ask to see your engineer’s Gas Safe ID card. Make sure you check the back of the card, which will state which gas appliances they are qualified to work on.
  • Only employ a suitably qualified Gas Safe registered engineer when having gas work carried out in your home. Gas Safe Register is the official register for legally qualified engineers. You can find a registered engineer in your area by visiting the Gas Safe Register website at www.GasSafeRegister.co.uk or by calling on 0800 408 5500.

Truuli are backing calls for a Property MOT in the private rented sector…

Researchers from the University of York have called for the introduction of a Property MOT, operating in a similar manner to the system for cars whereby the condition of homes are checked on an annual basis.

In summary, the report states that current regulation of the sector is ‘confused and contradictory’, ‘failing at multiple levels’.

The report reveals that conditions of a property worsen the longer tenants are inhabiting, with poor property management being the root cause; affecting both low and high income renters. One in five rented homes at the top end of the market and one in three at the bottom end are currently classed as non-decent. The report warns of a ‘slum tenure’ emerging at the bottom end of the private rented sector due to welfare reforms.

‘Unbelievably, there are currently no minimum standards that properties have to meet before they are let and as a result, millions of renters have to put up with damp, disrepair and sometimes life-threatening hazards,’ said Dr Julie Rugg a leading housing academic at York University.

Pros of a Property MOT:

  • Provide a set minimum standard which must be met by all landlords in the private rented sector
  • Simplify and bring together current requirements for checking gas, electrical, and energy certificates
  • Offer tenants a guarantee before signing a tenancy, assuring the property will be well managed and that standards will not lapse in the future
  •   Afford landlords greater clarity and protection against prosecution

At Truuli we believe the needs of private renters have been ignored for too long and it is time the government introduce legislation to provide decent, secure and affordable homes – particularly for those on low incomes.

Link to full report

Should I fix my mortgage for five years?

Should I fix my mortgage for five years?

Historically two year fixed rate mortgages have been the go to product when taking out a new mortgage or re-mortgaging.

In my opinion, the main reason for this choice is historically the price difference between a two and five year fix has been wide enough to not make it worthwhile paying the extra money. Over the past couple of years in a low interest rate climate and signs that the base rate is only likely to go up, people like myself are asking the question “should we now consider fixing our mortgage rate for 5 years?”

Gap between the average two year and five year fixed rate mortgages.

***Please note this is an average rate and not broken down by loan to value (LTV)***

 June 2016June 2017June 2018
Two-year average fixed rate2.57%2.30%2.52%
Five-year average fixed rate3.17%2.86%2.92%
Difference 0.60%0.56%0.40%

Source money facts. Assessed 10 July 2018

Difference in cost between a 2 and 5 year fixed mortgage product.

***Based on mortgage amount of £300,000 and a mortgage period of 25 years***

 June 2016June 2017June 2018
Two-year average fixed rate£1,356£1,316£1,349
Five-year average fixed rate£1,449£1,401£1,410
Difference£93£85£61

Cons of long term fix rate mortgages

Interest rates fall: One of the cons of fixing your mortgage rate for a long term is if interest rates fall your mortgage rate may look expensive. With the base rate at 0.75%, it’s unlikely we will see any further falls and the base rate is likely to raise in the near future.

Early repayment charges: While initial rates are low, whether you should fix for five years will depend on your individual circumstance. If you need to pay off your mortgage early it can be expensive and is usually subject to early repayment charges.

For example; if you want to move house before the end of the fixed period, you may need to pay a percentage of you loan as a fee.

Below is an example of typical fee charges

Year 1    Year 2    Year 3    Year 4    Year 5

5%          4%          3%          2%          1%

You may be able to avoid early repayment charges by porting your mortgage but you will need to weigh up the pros and cons of taking this route, which is not covered in this article.

Want more information or advice? Give the expert team at Truuli a call on 0330 043 0002  or request a callback.

Truuli - Bank of England

Has today’s interest rate increase made things difficult for aspiring homeowners?

The Bank of England’s Monetary Policy Committee has announced today that interest rates will increase by 0.25% to 0.75%, in a unanimous vote.
Today’s news will be welcomed by savers in general but not for those saving to get on the property ladder as any increase in savings rates won’t bridge the gap on rising house prices.
Homeowners not on fixed term mortgages will see an average rise of around £270 on their yearly mortgage payments.

The increase will be manageable for most homeowners, those that have stretched themselves financially to get on the property ladder or those aspiring homeowners may find the interest rate increase a bit more difficult to absorb.

Related story ……Economists predict an interest rate rise in the near future

Economists predict an interest rate rise in the near future

With the royal wedding and recent record temperatures boosting the UK economy in May, economists predict an interest rate rise in the near future.

The UK economy grew by 0.2% in the three months leading to May, compared with the previous three-month period, the latest figures from the Office for National Statistics (ONS) show.

However, wages rose more slowly over the same period, wage growth, excluding bonuses, slipped to 2.7% from 2.8% in the three months leading to May, whilst unemployment decreased by 12,000 to 1.41 million.

For some, that means we could be in for higher borrowing costs as economists expect interest rates to go up next week. The predictions come as doubt was cast on a possible increase earlier this month. That came after inflation held tight at 2.4 per cent, instead of rising to 2.6 per cent as economists predicted.

It is likely to be relatively small, from 0.5% to 0.75%, and for the large majority of homeowners, not particularly painful, however, it would be the highest it has been since March 2009, when it was reduced from one per cent to 0.5 per cent during the financial crisis.

Like in all situations, there will be both winners and losers. The winners could include 45 million savers, who have seen some interest rate improvements after the previous rise in November. But at least four million households with variable or tracker rate mortgages are likely to see their payments increase once again.

Variable-rate mortgages
Throughout the UK, roughly 9.1 million households have a mortgage. About half of these are on a standard variable rate or a tracker rate, amounting to between four and five million households.
These are the people who would be most affected by a rate rise, as their monthly payments would increase.
According to the Nationwide, a 0.25% rate rise means someone on a £200,000 mortgage would face paying around an extra £25 a month, or about £300 a year.

Fixed-rate mortgages
The large majority of new mortgage loans (96%) are on fixed interest rates of two or five years. Currently half of all outstanding loans are on fixed rates, equating to about 4.5 million households.

Such rates have already started to rise since November’s rate increase.
When borrowers reach the end of their term, they may find they have to make higher monthly payments or be required to move lender to keep the mortgage affordable.
That said, they could, depending on when they took out their loan, end up on a cheaper deal. The lenders offering fixed rates tend to be especially competitive.

A recent survey of nine economists by website Finder concluded all of them predict a base rate rise, mostly because they believe the economy has strengthened, inflation is set to go up and so are wages, despite having stagnated so far.

But while there seems to be agreement over an improvement of the economy up to now and positive expectations about wages in the coming months, some economists were concerned about housing affordability and the rise in the cost of living.

Andrew Wishart of Capital Economics said: ‘The Monetary Policy Committee held off raising rates in May because it wanted to see evidence that the weak patch in economic activity at the start of the year was just a blip. ‘The official data and business surveys released since then suggests that growth did indeed recover in Q2. ‘With little slack left in the labour market, robust growth is likely to lead to a further increase in wage inflation. ‘Alongside the MPC’s ambition to return interest rates to a level from which they can be cut to help in the next downturn, we think that provides reason enough for the MPC to raise interest rates in August.’

Truuli’s Local Guide To Croydon

REGENERATION

Croydon is a wonderful suburb in Surrey that is undergoing major reinvention with a modern city feel. The Council is now working with the Mayor of London on the Croydon Opportunity Area. An Opportunity Area Planning Framework (OAPF) has been proposed for the town centre to coordinate this investment. Work is underway on five masterplans underpinning the preparation of this framework: East Croydon, West Croydon, Mid Croydon, Fairfield, and Old Town. There are also a number of public realm improvements planned collectively called ‘Connected Croydon’. In 2017, it was announced that the borough topped CoStar 50’s 2016 Occupier Index, naming it the place most in-demand for office space in the UK.

The area is now home to one of the countries tallest residential buildings, Saffron Square and £3.5 billion has been committed to consented and proposed development projects, with more in the pipeline. The locals eagerly await the long overdue 1.4 billion Westfield Shopping Centre that will cement the area as one of the new go-to places for shopping and dining. Croydon has already had an injection of new culture with Boxpark and its arrays of food and drinks spots including food from Mexico, Brazil, Spain and the Caribbean; the multicultural area is always thriving day and night and is next door to East Croydon station.

Truuli Estate Agents Boxpark Croydon

TRANSPORT/TRAVEL

Croydon has three mainline stations as well as the famous tram link that opened in 2000 and remains the only tram link service in the South East. Fast trains from East Croydon can take you to Victoria or London bridge within 18 minutes, and you can also get to Gatwick in 15 minutes with many locals deciding to use the Gatwick Express rather than driving to the airport.

West Croydon also has a good service into London, however, trains are not as frequent as if you travelled from East Croydon. There is also a tram link which connects Croydon with Wimbledon, making stops via Mitcham Junction – going in the opposite direction you can get into Beckenham Junction and Elmers End. All Croydon stations arein Zone 5

Truuli Croydon Tram

HOMES

Since the infamous riots of 2011 the area as seen a much-needed sea of exciting change. There are different styles of properties from 1930’s, Victorian and Georgian. We also have new build developments going up in the area at a phenomenal rate proving there is a lot of demand for living in the local area. The Plinth block next to Boxpark has its own beautiful roof garden and 161 flats in a 9-storey building changing Croydon’s Skyline to a lovely scenic picture. This particular development forms a part of the Ruskin Square development which will soon have 5 office buildings and over 600 new homes, shops and restaurants.

SMALLER SUBURBS

In Croydon there are local areas in Shirley and Sanderstead that promote staying power, and what we mean by this is the residents want to stay there and live happy ever after. These particular areas have a very strong community bond and everyone knows everyone.

The main postcode area in Croydon is CRO but there are other postcodes that are serviced by the area including CR2. There is an up and coming area in Croydon that is called Forestdale, which is a neighbourhood of 1970s houses that are very popular and affordable. Forestdale is connected to Croydon town centre by two tram stops.

Croydon central and North are controlled by the Labour party at present, with Croydon South being controlled by the Conservative party.

SCHOOLS

Croydon has an abundance of good schools, ranging from Primary, Comprehensive and Private schools. As with most areas, the Ofsted ratings of local schools is fairly patchy as they rate from “need improving” to schools that get “outstanding” We advise you to check the Ofsted reports of your chosen school. A few of the popular primary schools are Park Hill Infants in Stanhope road, St Marys RC in Bedford Park and St Johns CofE in Spring Park Road Shirley.

One of Croydons most famous comprehensive schools is the Brits School for Performing Arts and Technology (currently for 11 – 18 years olds) which has turned out some famous former students such as Adele, Leona Lewis and Tom Holland; the school is located in the Selhurst part of the Croydon borough.

There are also some famous academies in the area such as Oasis in Shirley and the Harris Academy in Shirley. If you wanted to send your child to a private school, they are in abundance with age ranges from 3 through to 11 and then 11 onwards, such as Elmhurst boys, Maple house, Royal Russell and Croydon High.

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