Pavilion Relocation Ltd, 80-83 Long Lane, London EC1A 9ET

Call: +44 (0) 1892 257 001

Photograph of Chichester Cathedral and the Gardens

Chichester Calling? A great place to live.

Our brief was for a Chichester home search as our client is relocating from Germany and had earmarked Chichester and its environs.

We could understand why she had focused on the Catherdral City of Chichester with its excellent shopping, places to eat, and places to visits . It has a festival theatre and many beautiful beaches nearby.

Our client Michaela wanted to find a modern 4 bed. house in or near Chichester with a garden for her, her husband and their twin boys.

Day 1 – Orientation tTour for the Chichester home search

We were fortunate with the weather as the sun shone the whole time and we were able to start the Orientation Day with a walking tour around Chichester. We then started the driving tour to include Bognor Regis and various villages en route. We included a few house viewings to allow Michaela to see what type, style and size of house she could get to suit her budget in the selected area. By the end of the day we agreed that there were more houses that worked for Michaela and her budget in Bognor Regis and some of the larger villages.

Day 2 – the search begins and, as is so often the case, a number of our scheduled viewings were cancelled on the day. Some had gone under offer that morning which sadly included Michaela’s first choice. Undeterred we managed to find a number of exceptionally good houses with very helpful agents who were able to arrange viewings at very short notice indeed.

Happily by the end of the day we’d found a beautiful, bright house with an amazing rooftop patio and gorgeous garden located in a great neighbourhood and a stones throw from the beach. Her twin boys will be in heaven!

If you are contemplating a move to the UK then please contact either Amanda on 07944 305921 or Anji on 07748 68281 and we’d be delighted to help you plan your move and find a home for you and your family.

Assured Shorthold tenancies

Potential change in law for Assured Shorthold Tenancies

With the current trend in the rise of the renter the government is considering reviewing the present situation with Assured Shorthold tenancies (AST’s).

Under current English law, assured shorthold tenancies grant tenants a minimum of six months security of tenure. As the rise of the renter increases this is something the Government really need to look at and reflect on the market conditions. The average length of a tenancy is 4.3 years with 10 per cent of those surveyed having lived in their current home for 10 years (according to Joanna Christie in July’s The Negotiator.)

The government believes that longer tenancies would be more beneficial to both tenants and landlords. On short term contracts, tenants face instability, a lack of power and the potential cost of unplanned and unwanted moves. On the other hand, longer tenancies would save time and money spent on unnecessary renewals. As well as helping renters put down roots, the government says it would also give landlords longer term financial security as stated in the The Huffington Post. In addition the government says the current situation can lead to tenants feeling insecure, unable to challenge poor property standards for fear of tenancies being terminated, and unable to plan for their future or get involved in the local community.

Under the proposals, tenants would be able to leave before the end of the minimum term, but they would have greater protection if they wanted to stay for an extended period of time.

Therefore, the Ministry of Housing, Communities and Local Government is consulting on its proposed model for a minimum three-year residential tenancy with a six-month break clause, and the options for implementing this.

The core elements of the model would be:

A three-year term with an opportunity for either landlord or tenant to leave the agreement after the initial six months.
Following the six-month break clause, the tenant would be able to end the tenancy by providing a minimum of two months’ notice in writing.
Landlords would be able to recover their property during the fixed term if they had reasonable grounds.
Rents could only be increased once per year and any agreement on rent would be detailed in the tenancy agreement.

The government is considering particular aspects of implementing the new regime, including the need for legislation, tax relief for landlords, and awareness raising initiatives.

The consultation closes on 26 August 2018. The proposals apply to England only.

Contact Anji on 07748 682818 or Amanda 0n 07944 305921 for any help in finding Assured Shorthold Tenancies.

Assured Shorthold tenancies

Slowest annual growth in five year

An apartment block overlooking a square in Dalston
London – Dalston

Reuters and The Guardian have reported that Nationwide announced this week that British house prices rose at their slowest annual rate in five years this month. This weakened activity looks set to remain due to modest economic growth and squeezed household budgets and is affecting the London housing market the most.

London housing market hit by the Brexit vote

The pace of increase after that is expected to be gradual, as the Bank of England assesses the effect of Britain’s departure from the European Union in March 2019.

London’s housing market was hardest hit by the June 2016 Brexit vote, due to reduced demand from foreign investors and fears for the city’s financial services industry.

This weeks’ data showed London was the only region of the United Kingdom to record an annual price fall in the second quarter, with average prices 1.9 percent lower than a year earlier, compared with increases of 4 percent or more in Wales and central England. Thus the capital continues to be the weakest spot in Britain’s housing market.

But London property prices still remained 50 percent above their level before the financial crisis in 2012, while in much of northern England there had been no overall increase over the past decade, as reported by Nationwide.

Nationwide’s Chief Economist says “There are few signs of an imminent change. Surveyors continue to report subdued levels of new buyer inquiries, while the supply of properties on the market remains more of a trickle than a torrent.

“Subdued economic activity and ongoing pressure on household budgets is likely to continue to exert a modest drag on housing market activity and house price growth this year, though borrowing costs are likely to remain low.”

Although it is still easily the most expensive place to buy property, the average price of a home in London fell by 1.9% in the second quarter to £468,845.

Require help finding a home or investment property in London call either Anji on 07748 682818 or Amanda on 07944 305921. We will be pleased to chat through all the options available.

Photo of investment property

Recently we have had some demand to provide a basic guide to investment property and for those not in the know the following is a run through of what you should be aware of.

Maybe this is less pressing now for the small landlord due to the recent changes in the tax laws which impact small landlord’s tax planning but we thought we would set out a simple guide to calculate potential returns on property investment. As we are not financial advisors we suggest you also seek financial planning if you do want to investigate buying an investment property. What we are doing here is setting out in simple terms what you need to be aware of.

There are two main factors: –

1. The income i.e. rent
2. The capital appreciation resulting from the potential rise in a property’s price.

An investors total returns are the sum of both.

Calculating the Rental Yield and your Return on Investment

It is also important to calculate the annual rental yield as it will be an indication of the level of the return on your investment (“ROI”). This is not the rental amount at all. Knowing the yield as it is like knowing what the Annual Percentage Rate (APR) is for a savings account – you wouldn’t put your money in a savings account without knowing the APR so it is just as important to work out the rental yield. This is calculated by measuring the annual rent as a percentage of the underlying capital value of the buy-to-let investment. Therefore, if a property was valued at £100,000, and generates an annual rent of £6500 the gross rental yield would be 6.5%. This gross rental yield is a useful starting point in calculating your potential returns and helps give a landlord a quick and easy way in which to measure it against alternative property investments.

As we all know any landlord will tell you that, unfortunately, they don’t get to keep all the rent therefore the gross rental yield can be a bit of an exaggeration. The more accurate figure of the true cash return from the rental property is given by its net rental yield.

What returns mean

  1. Firstly, the rent. The net rental yield takes away the associated costs of generating the rental income. This might include any management charges, such as: letting agent fees, ground rent, service charges, repair costs and insurance charges. Other outlays may also come into play such as the mortgage (important to note that this is the interest only portion – which is deducted and may have further personal tax implications), decoration, gardening, and cleaning.
  2. Secondly, the capital gain. Although this will not normally form part of the landlords yield calculations on a day-to-day basis, over the long term can be an important element in the overall return. Typically, we know most landlords will hold their residential investment property for approximately 15-20 years according to Property Hawk and the ongoing surveys from the Association of Residential Letting Agents (ARLA). Over this type of period capital returns can be very important.
Setting up costs
Setting up costs include the initial costs involved in the purchase of the investment property such as the legal fees and stamp duty. Other capital costs might be any development/ refurbishment costs required. Finally, there is the cost of exiting the investment, i.e. selling the property. All these need to be factored into the overall calculation of a property investors returns
You also need to be aware that rent and other costs are likely to change over the investment period which will also need to be factored into the calculation of a landlord’s property investment returns. Rents can go down as well as up and void periods will also influence the ROI.
Contact us
As mentioned above this is a simple guide of factors that you should consider if looking for an investment property.  We would recommend you seek financial assistance if you are new to this type of investment. We have had a number of searches for investment property so please call Anji on 07748 682818 or Amanda 07948 3015921 if you wish us to help you look for an investment property search.
Beautiful spring in Maidenhead

Similar sized rentals in Maidenhead cost considerably more than their counterparts in Lisbon

As rentals in Lisbon are considerably lower than Maidenhead for a ‘like for like’ property finding a 1 to 2 bed flat for our client Antonio has been has been a challenge! In fact our search continues as even a 1 bedroom flat in central Maidenhead is around triple the price of an average property in and around Lisbon.

A street in Lisbon
Moving fromLisbon
Windsor Castle
Relocating to Windsor and Maidenhead

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Get in Touch

  • Office Opening
    24 hours a day, 7 days a week
  • Telephone
    +44 (0) 1892 257 001
  • Address

    20 Moat Farm, Tunbridge Wells,
    Kent, TN2 5XG, UK

  • Email

    info@pavilionrelocation.co.uk

Get in Touch-London

  • Telephone

    +44 (0) 1892 257 001

  • Address

    80-83 Long Lane, London EC1A 9ET

  • Email

    info@pavilionrelocation.co.uk

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