“Exchange of contracts is the stage when the buyer and seller become legally committed to the sale and the completion date is agreed. Pulling out after exchange can have serious financial and legal consequences, so your conveyancer will confirm that everything is ready before you proceed.”
“What you can afford depends on your income, deposit, regular commitments and the lender’s affordability checks. A mortgage adviser can help you understand a realistic budget, including monthly repayments, fees, insurance and the other costs of moving.”
“Allow for more than the purchase price. Typical costs can include your deposit, mortgage and broker fees, a survey, conveyancing, property tax where applicable, searches, insurance and removals. The amounts vary, so ask your mortgage adviser and conveyancer for a tailored estimate before you commit.”
“Stamp Duty Land Tax is a tax that may be payable when you buy property or land in England or Northern Ireland. The amount depends on the purchase price of the property you are buying, whether you are a first-time buyer and whether you already own another property.”
“Choosing a fully managed service such as the LetComplete service allows you to completely relax. You never have to worry about the let. It creates a professional distance between you and the tenancy, and means you can avoid having to deal with all the bad bits like rent arrears and deposit disputes.”
“Ask a letting agent to value your home. At Reeds Rains we’re experts in the market, so we can tell you how other rental properties are faring in the area, and what kind of yield you can hope to expect.”
“This really depends on how much support you need. At Reeds Rains we offer three main service levels: LetComplete, LetEssentials and LetBasic.”
“An Energy Performance Certificate rates a property’s energy efficiency from A to G and is normally valid for 10 years. In England and Wales, most privately rented homes must have a valid EPC and meet the current minimum rating, unless an exemption applies. Requirements and penalties can change, so check the latest rules before letting the property.”
“A tenancy agreement is a contract signed by both the tenant and the landlord. It outlines all the rules to which both parties must comply.”
“Landlords and letting agents are required to register your deposit with an approved Tenancy Deposit Scheme. Reeds Rains landlords register their deposits with My Deposits. The deposit is then either held by the landlord, the agent or the deposit scheme itself. You should receive details of the scheme, explaining where the deposit is held.”
“Before you start searching for your new home it’s a good idea to write down a budget. What are your current outgoings and what money do you have left each month to spend on rent?”
“If a tenant believes the landlord is not keeping to their side of the agreement – for instance, not maintaining the property in a fit state of repair – then the first thing the tenant should do is speak to their letting agent.”
“A landlord has to give the tenant notice before entering the property, unless it’s an emergency.”
“A property is only worth what a willing and able buyer is willing to pay. But the Reeds Rains' dedicated sales teams will give you an indication of its value at a free property valuation.”
“There are a number of fees to consider when looking to sell a property, such as for estate agents, conveyancing/solicitors, surveys, etc. These costs will vary depending on the value of your property, its location, etc. Your local Reeds Rains branch will be able to give you a full breakdown of these costs at your property valuation.”
“This varies hugely on the type of property, the local area, your asking price, your agreed marketing strategy, etc. Your local Reeds Rains branch will be able to give you an educated idea of the time it will take to sell when you have a free property valuation of your home.”
“It is a legal requirement to have an Energy Performance Certificate (EPC) to market your property. Reeds Rains can organise one for you or you can arrange your own.”
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