PHIL SPENCER’S NEW TIPS TO INCREASE YOUR


PROPERTY’S VALUE: SMART ENERGY EFFICIENCY Top ways to make your home energy efficient for less


When it comes to your home, it pays to go green according to the results of a new survey by the campaign for a smarter Britain. Over two-fifths (37 per cent) of people in Wales said they would pay more for an energy efficient home – with 12 per cent saying they would spend at least 10 per cent more. Wales is also ahead of the rest of the UK when it comes to Energy Performance Certificates (EPC), with 61 per cent of people aware of them. They are a key way to determine the likely energy efficiency of a property for prospective renters and buyers.


The research also revealed the most desirable green investments, including: • A new roof (53 per cent) • A newly replaced boiler (45 per cent) • Cavity wall insulation (32 per cent) • Underfloor heating (34 per cent) • Ground source heat pump (38% per cent)


• Air source heat pump (30 per cent) • An energy storage system (31 per cent)


What’s more, property guru Phil Spencer believes this is a trend which will only continue – as the nation puts an increasingly higher premium on being green.


Efficiency on a budget However, whilst many of these efficiency measures require significant upfront investment, the property expert advises that there are many small things you can do to lower your energy consumption and keep your bills in check. The top most common ‘green’ items which homes already have installed include: • Energy saving light bulbs (77 per cent)


• Double glazing (67 per cent) • A recently serviced boiler (55 per cent)


• Efficient shower head (18 per cent) • Draught proofing installed around doors and windows (18 per cent)


However, there are plenty of other efficiency measures which can also help reduce your energy consumption without


requiring a big investment – from smart heating controls, which only turn the heat on when you are home, to a one cup kettle. Smart meters – which are installed by your energy supplier at no extra cost – are a simple way to keep track of your energy bills and show you how much these other energy efficiency measures are saving you in pounds and pence and how much your consumption has reduced. By helping you see where you could be saving energy, a smart meter also means you can help do your bit in helping the nation reduce its energy use. Property expert, Phil Spencer, commented: “As a long-time supporter of taking steps to help the environment, it’s great to see a growing awareness of the importance of making your property energy efficient and that it’s starting to have an impact on the price of the property. You don’t need a small fortune to start


making effective changes though. Installing draught proofing to stop heat escaping outside the house, switching to energy saving lightbulbs and getting a smart meter from your energy supplier to keep track of the energy you’re using are all simple, and low cost ways to cut down on your usage, and contribute to a cleaner, greener, smarter Britain.” To help you keep track of how much energy you are saving thanks to energy efficient measures, get a smart meter installed at no extra cost, by


contacting your energy supplier or visit www.smartenergygb.org for more information.


GET MORTGAGE FIT IN 2019


There is a good deal of certainty within the property market - thanks to the array of low fixed rate mortgages available. A quick search of mortgage providers will show offers as low as 1.48 per cent fixed until 2021. For those aiming to take advantage of the array of excellent rates available, the challenge is to make themselves as attractive as possible to lenders. There are a number of practical steps potential homebuyers can take to do just that - and Barratt Homes has compiled its top tips for making yourself mortgage fit. “Whether they are entering the property market for the first time or hoping to climb further up the property ladder, we are urging homebuyers to put themselves in the best possible position to help them bag some excellent fixed rate deals,” said sales director Andrea Pilgrim. “It’s a valuable way to be sure you know exactly what you will be paying for the foreseeable future. “Our top tips give customers the inside track on how these decisions are made and what action homebuyers need to take. Credit scoring can be affected by things that many people simply wouldn’t consider, such as missed payments to not being registered on the electoral roll.” Barratt Homes says that lending criteria now also means that potential buyers need to provide a clear picture of their finances, something which will put them in the best position for a swift mortgage assessment and offer.


TOP MORTGAGE TIPS:


Be aware of your credit score First of all, check your score. It’s easy to find because there are a number of free-to-use agencies online. Make sure all information is correct, If it’s not, write to the credit agency and request that they change it. If you have a poor score, there is plenty of advice available to help you start making changes to improve it.


Don’t over do it


Existing credit such as credit cards and loans can be a bind but you should ensure that you keep up with the minimum repayments - pay more if you can. If you are really struggling to pay, speak to your lender as this may show favourably on your credit score. Don’t use up all your available credit if you can help it. If you’re at your limit, many lenders may be concerned about loading more onto you.


Be honest about your spending Mortgage applications provide a clear picture of your finances, so be completely honest about


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your spending now and what is planned for the future. It will provide your lender with an accurate picture. You may be better off alone


If you have joint finances with anyone in your family, these will show up in your credit score. It is possible this may affect your chances of securing a mortgage. So, if your partner or housemate has a poor credit record, try to keep your finances separate.


Do you have a history?


Some people think they will have an excellent credit score if they’ve never borrowed before. This is not necessarily the case because it means they have no credit history. If a lender has nothing to base their decision on, they may be inclined to avoid funding your home.


Never let debt build up, but it may help if you take out a credit card and use it regularly. Always pay it at the end of the month with a direct debit though. This will help you build a credit history and show you are worth investing in. Mobile phone contracts are another good way of proving you are creditworthy.


Get on the electoral roll


Demonstrating that you have a stable lifestyle is a good way to show mortgage providers you are trustworthy. If you are in full-time employment and live at a fixed address, that’s an excellent start. If you aren’t already, register for the electoral roll as you’re unlikely to get credit without it.


Be consistent and double check It might sound obvious but take your time with your application form and make sure you’ve got your facts right. Even a simple mistake - like saying you earn £3,000 a year when you actually earn £30,000, could delay your application and cause you to miss out on a great deal. Also, be consistent with the information you provide. If you have said one thing to a lender and something else to another, you may be caught out. Worse still, it could be flagged as fraudulent. At best, it will likely slow down the process. Another red flag is submitting a number of applications in a short space of time. This will show up on your credit record and lenders may question why you have been rejected by others.


Top MortgageTips from Barratt Homes New Homes Wales and the South West


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