Follow us on Twitter @TheNeg
TheNews RESULTS Not for Profit pays dividends
The Tenancy Deposit Scheme has reported a strong set of financial results and has had an ‘outstanding year’ according to its Annual Review and Accounts for 2011-12. These results have enabled the Scheme to reduce membership subscriptions in line with the Scheme’s not-for-profit status and deliver greater service improvements to customers. In addition to reducing the
cost of protecting deposits, TDS has invested substantially in IT and communications with the membership. This investment, the Board believes, has contributed directly to achieving the UK Government’s Customer Service Excellence Award. Milestones for the year
FIRST TIME BUYERS No choice but to rent
Around four out of every ten potential first time buyers are being forced to continue renting as they cannot afford to get a foot on the property ladder, according to RICS. Furthermore, almost 20 per cent of those who do try and take the plunge are seeing their dreams of home ownership shattered as problems accessing adequate mortgage finance are causing their deals to fall through. The large deposits required by
many lenders coupled with steadily increasing rents across much of the country means that those who cannot rely on the ‘bank of mum and dad’ to raise a
deposit are struggling to generate the funds that banks require. The government recently
introduced its NewBuy scheme which is designed to assist first time buyers by encouraging lenders to offer 95 per cent mortgages. However, as this is only available for newly built properties, the vast majority of homes in the UK remain unaffordable and inaccessible for many.
The RICS has urged the
government to consider a similar scheme for second hand properties, guaranteeing or lending first time buyers a reasonable deposit in return for
a stake in the home. This would provide the government and the taxpayer with a clear return on investment, allowing first time buyers to access the market and free up stagnant chains. Whilst there are a number of schemes being considered by local authorities and private funders, it is fragmented and lacks the volume to improve the number of buyers needed to stimulate market activity. Peter Bolton King, RICS
Global Residential Director, said, “Many first time buyers are facing the prospect of a property ladder with no rungs. With lenders requiring such hefty deposits and affordable mortgage deals out of reach for most, a generation of potential homeowners are facing an uphill struggle. Without allowing more first time buyers to enter the market, chains will continue to stall and transaction levels will stagnate. “RICS would like the
government to consider a mortgage indemnity scheme that works for the whole market, not just new build. NewBuy could potentially lead to market distortion by reducing demand for second hand property.”
www.thenegotiator.co.uk
of SafeDeposits Scotland, a custodial deposit protection scheme. In March 2012 the Scheme
was protecting 870,968 tenancies with a total value of deposits of just under £1 billion. These tenancies were registered through 4,298 letting agents and corporate and private landlords. Chief Executive, Steve
included the launch of the Tenancy Deposit Scheme for Landlords in conjunction with the Residential Landlords Association and the successful joint bid with Scottish partners
Harriott, said, “This is an outstanding set of results. We have reduced membership fees and delivered greater benefits to our customers and there is more to come. Customers are really seeing dividends from our not-for- profit status and they are taking advantage of our award winning customer service.”
AGENCY FEES
Model subscription
Following last month’s story on Martin & Co’s ‘Pick & Mix’ subscription pricing model, the firm is to roll out a full service on 1st September with 1,000 sales properties to list; 80 offices are already operating the sales model having completed sales training. Martin & Co’s pricing model
moves away from the traditional ‘no sale, no fees’ system by not charging sales commission, but instead offering a subscription style menu where sellers to select the services they want, such as being listed on Rightmove or conducting their own viewings. Ray Woolrich, who has a
large property portfolio in the Crewe & Nantwich region, said, “I make the most of the sales subscription model when selling my properties, so I’m not paying a huge amount of money to simply advertise my property. Instead, I pay a fair fee and can carry out the viewings and negotiation myself.”
MANAGEMENT
Waterfords launch Tenant Assist service
Gareth Wemyss
Waterfords has launched a new service, Tenant Assist, a home assistance package for landlords. Waterfords is the only agent in its area to offer the
service which provides a 24/7 emergency service covering any major incidents or problems in a home. An annual gas certificate and boiler service and benefits such as parts and labour costs are included. Gareth Wemyss from Waterfords said, “This service offers both parties comfort as they can call the emergency helpline at any time and are guaranteed a response from an approved tradesperson within three hours.”
TheNegotiator l September 2012 l 7
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53