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Q & A with Matthew

Matthew Groves, Maidstone Branch Manager at Ben Siggins Estate Agents, reveals why he’s so passionate about Maidstone and reflects on the current property market.

Please provide some information on your professional background M: I started my career in retail, managing a Harveys furniture store. After working up the ranks as far as I could, I fancied mixing my love for cars and work together and landed a job for prestigious brand, Mercedes, selling cars and all aspects of service. Then, after working for another car firm, BMW, I found myself living abroad as a paint engineer (not by choice). After a few years, I returned and worked for the large corporate estate agent, Your Move. I entered the company as office junior and worked up to become a valuation/ branch manager.

What do you enjoy most about working in the property industry? M: I love the aspect that every day is different and the property market is always changing. It’s great meeting new people on a constant basis and forming great relationships with clients. I am very competitive by nature and strive to be a leading agent and nothing is better than being the chosen agent and delivering the highest quality service.

What would be your dream home? M: My dream home would be a rural barn conversion with a sweeping driveway and outbuildings, where the character and charm is mixed with contemporary fixtures and fittings.

What is your favourite part of Kent and why? M: I actually love where I live and that’s why I am so passionate about the properties I market and deal with. Maidstone and the surrounding areas offer everything from cosmopolitan living to the rolling fields of the countryside and beautiful country pubs.

When it comes to customer service, what do you pride yourself on? M: I pride myself on managing customers’ expectations and setting the bar high. The reason Ben Siggins is where it is comes from the hard work and energy invested from all of us here in the team. Communication is essential and is what separates us from other agents in the field and it is why, to this day, we are the agent of choice.

What do you find is the most common misconception with customers buying or selling a property? M: I think buyers and sellers alike are completely unaware of the fantastic market conditions regarding the current interest rates and property prices available. It now creates many options, where the door is now open to move to that better home and release equity or get your foot firmly on the property ladder with the fantastic mortgage deals available.

In your view, what makes Ben Siggins stand out from other agents in the area? M: Marketing is paramount and is essential when needing to achieve the best price for our sellers and is also a reflection of the quality of what we, as an agent, have to offer. We are confident that our proactive approach to marketing, combined with our customer care programme, will be instrumental in securing the best possible price and in the timescale that clients require. We include standard professional photography and floorplans plus offer a ‘no sale, no fee’ contract. We also can provide tailor-made contracts to suit the customer and their personal timescales.

When you are not selling properties, what do you like to do in your spare time? M: When I have spare time I love to spend it relaxing and unwinding with my partner and daughter and the new addition to the family, Blue, who is our Husky puppy.

If you were not an estate agent, what would you see yourself doing? M: I would love to be a model and get paid loads of money for being seriously good looking – but that will never happen!

How do you anticipate the property market to perform over the next 12 months? M: I expect the market to steadily creep upwards due to the low interest rates and huge demand for property, which isn’t going to go anywhere soon.

Read our previous Q&A with a previous client and get your hands on some expert buying tips!

For more information on our renting, letting, buying or selling service please get in touch today.

The property market post-Brexit

The UK economy appears to have weathered the initial shock of the Brexit vote earlier this year, but has confidence been fully restored in the property sector? Is it business as usual or are we still treading carefully?

Britain’s Vote Leave result immediately had an impact on housing market transactions, and many vendors delayed their decision to sell amidst the uncertainty. As expected, the property market nationwide has experienced a significant lull in the last few months, but according to RICS – the Royal Institute of Chartered Surveyors – it seems the housing market is ‘settling down’ after post-Brexit jitters.

Enquiries on the rise The institute’s September report found a significant turnaround in new buyer enquiries compared with June, with findings revealing demand from home-buyers had risen for the first time since February. This could, however, have been down to the fact that June, July and August are always quieter months due to the summer holidays.

While it appears that buyers are returning, the problem is that there is a significant lack of fresh housing stock on offer until vendors are satisfied that house price growth is at its peak – this is what’s keeping the prices high.

That being said, property group JLL has claimed that house price growth will be subdued and largely flat until 2019. The group has forecast 0.5% growth in 2017 and 1% in 2018, before rising to 2% in 2019. Ultimately, these predictions will depend greatly on the levels of new housing being delivered – a shortage of new homes, added to increasing demand in 2018, will help boost house prices.

Impact on landlords

So where does this leave Britain’s landlords? According to findings from a recent survey carried out by the National Landlord’s Association, more than a third of landlords (35%) think that leaving the EU will have a negative impact on their ability to attract tenants in the future. The findings also reveal that 39% believe that Brexit will have no significant impact on their business; 21% unsure and 5% believe it will have a positive impact.

Despite fears of a drop in demand and the imminent cuts to buy-to-let tax relief, a new survey has revealed it’s back to business for the majority of the UK’s landlords. According to a Landlord Voice survey conducted by Simple Landlords Insurance, 4 in 5 landlords are unphased by Britain’s decision to leave the EU and intend to continue investing in buy-to-let properties.

Only 9% claimed that the Brexit vote meant they would postpone their plans to expand their portfolio, while 3% said they were likely to invest even more. Jenny Mayes from Simple Landlords Insurance said: “While some landlords are adopting a cautious ‘wait and see’ approach and slowing down their investment, others see opportunity in the changes and the vast majority want to keep or grow their property investment.

“Landlords are reacting in different ways to political changes, but one thing they have in common is that most are refusing to let it negatively deter them. With many re-evaluating their objectives, changing their strategy, moving to limited company ownership or focusing on capital appreciation, they are ultimately continuing to invest.”

Ben says: “Since the referendum (and even for a month or so beforehand) the industry experienced a slowing down in the number of properties coming to market, as well as a halt in price increases. We have not seen prices reduce however. There are still uncertain times ahead as we navigate our exit from the EU, but the UK property market has shown itself to be resilient.”

If you’re unsure about renting, letting, buying or selling your property pre and post-Brexit, contact one of our Ben Siggins branches to get expert advice from one of our team members. We’re always on hand to help and provide advice where we can.

Matthew, our branch manager at Maidstone & Gillingham, explains his prediction for the UK property market in our latest Q & A session.

NLA responds to RICS’ call to reverse stampy duty surcharge

Commenting on RICS’ call to reverse the stamp duty surcharge on additional homes, Richard Lambert, CEO of the National Landlords Association (NLA), said: “The stamp duty surcharge for second home purchases was nothing more than a crowd-pleasing policy from a Government that was dead set on championing homeownership at all costs. However, it frankly isn’t raising any money for the exchequer, so it makes sense for Mr Hammond to reverse it and give private residential investors the opportunity to help ease the housing crisis. This Government should be commended for setting out a programme for building one million homes by 2020 and it needs to put the effort into making sure this is realised. In the meantime, we’ve still got a burgeoning renting population that need to be housed right now.”

1 in 3 UK home-owners regret DIY

Home services marketplace Plentific.com’s latest survey has found that over a third (35%) of UK homeowners have regretted the results of a DIY project and wish that they had called in a professional to handle it. Depending on the size of the project, many attempt the work unsupervised in an effort to save money. However, according to Plentific’s statistics, 1 in 3 find their results less than pleasing, and in retrospect, would have chosen to hire a specialist instead. Could this mean the demand for trade professionals can only continue to grow? The younger generation struggle most with DIY, as half (48%) of those aged 18-34 said they have regretted their past results. This high percentage may be down to them being relatively fresh on the property ladder and having yet to gain the relevant experience in DIY. It seems 18-34 year olds would save time, effort and enjoy a more pleasing end result by hiring in a specialist.

Minimum space standards will squeeze renters

One of London’s leading property consultancies has warned that plans to introduce minimum space requirements for rooms in the private rented sector will ultimately harm renters. Under new measures designed to target ‘rogue’ landlords, the Government is proposing a mandatory standard of 70ft2 for rooms and a wider licensing of rental properties, which it says will stop the exploitation of tenants. However, Julian Goddard, Head of Residential at Daniel Watney LLP, cautioned the suggested regulations would harm renters willing to compromise on space in order to save money, and also didn’t reflect recent technological changes. Julian said: “While well intentioned, these minimum space requirements for the rental market will do little to help people looking for cheaper options to live, especially in ultracompetitive locations like London. They also fail to recognise the huge shifts in technology that mean we are increasingly ‘assetlight’. From streaming music on Spotify to watching films on Netflix, people are owning less and less physical copies and relying more and more on digital services, reducing the need for storage space. Housing policy should be made for the future, not the past.”

Can’t sell? Don’t want to sell?

Property owners who are struggling to sell their home have been offered a lifeline, with the launch of a new service that makes short-term letting effortless.

My Property Host is a property management service that handles every aspect of letting out a property on Airbnb. It takes care of everything, from creating the advert to taking bookings, greeting guests and cleaning up afterwards. My Property Host’s Managing Director, Elena Lopez, explains: “Airbnb’s one Achilles heel is that it offers no proper insurance cover as part of its letting agreement, making insurance a worrying blindspot for hosts. My Property Host is a complete management service designed to make the whole Airbnb process effortless and worry-free. With the property market still unsettled following the Brexit referendum, homes are taking longer to sell and many would-be sellers are holding off on putting their property on the market until things calm down.”

You can read the rest of our blogs by exploring our blog section.

If you’re interested in renting, letting, selling or buying your property get in touch online or contact your nearest  Ben Siggins branch.

Newly-elected Trump map impact London’s housing market

Following Donald Trump’s victory in the US presidential election, estate agents and market analysts have been reviewing the potential repercussions for Britain’s housing market. Amongst some of the theories, some believe that an indirect consequence of this shock result may be an influx of American buyers in London – and possibly even more permanent American residents offended by Trump’s policies.

The election result, combined with a weaker Sterling post Brexit in June, has made London an attractive city for prospective buyers. However, it may not just be fleeing Americans that flock to London. Samuel Blake, Residential Partner at Montagu Evans, comments: “We consider that London could benefit from Trump’s policies. However, we believe the impact is likely to come, not from fleeing Americans, but from wealthy people who would have considered a move to New York City, in particular from the Middle East, Europe and China.”

Jean Liggett, Ohio-born Chief Executive of the UK’s Properties Of The World, says Trump’s success may lead to significant stock market de-stabilisation, but that London’s housing market may benefit.

“Investors [may] seek to migrate their portfolios from the US to a more secure and predictable market – the UK. This may even mean that the Sterling could rise in value. Only time will tell how the US property market – and others around the world – will respond to his election victory,” she says.

Ben says: “As with Brexit, I expect to see confidence in the housing market knocked slightly in the shorter term, but this will coincide with the quieter period over the festive season. However, I don’t expect to see this having any effect at the lower end of the market ranging from £80k to £300k, a slight slow down from £300k to £500k and a bigger drop off in properties over £500k. Says: Only time will tell how the US property market – and others around the world – will respond to his election victory realised. In the meantime, we’ve still got a burgeoning renting population that need to be housed right now.”trump ben says

If you want further information how Trumps presidency could impact the buying or selling of your property in the UK, please do not hesitate to get in touch. On the other hand, if you’re considering renting, letting, buying or selling your property you can also visit our services pages.

Is Ashford the place to buy in 2018? House prices set for huge rise, or stagnation?

Is Ashford set to become the place to live in 2018? Throughout the year, Ashford residents can benefit from a number of new additions and redevelopments to the town including a new motorway junction, one of the biggest housing development projects in Kent and an extension to the ever-so-popular McCarthur Glen Outlet Centre. According to our previous study on Kent house prices over the last 20 years, the average value across all property types has increased by a staggering 262.34%. With major developments happening across the town, will house prices continue to soar or stagnate?

What developments will affect Ashford Property Prices this year?

Ashford_Development_Map

Junction 10a

January 2018 is set to be the start of project junction 10a on the M20 motorway. According to England Highways, ‘The M20 is an international route and is used by large volumes of heavy goods and holiday traffic…

M20 J10a map - Web

We predict that the existing M20 junction 10 will suffer from congestion and long delays in future if additional capacity is not created’. In attempt to reduce anticipated and existing traffic and congestion, the Highways England ‘will construct a new M20 junction 10A’ which will comprise of ‘a roundabout over the motorway, new slip roads and a new link road to the A2070 Bad Munstereifel Road, with traffic signals on parts of the junction and two 3 lane bridges’. The massive infrastructure is costing a staggering £104.4 million and due to take two years with completion expected in May of 2020.

Ashford residents can expect to see an ease on their local journeys as long-haul traffic is separated to alternative routes. This will also bode well with residents frequently commuting to London as they can expect their journey’s to and from the City to be less congested by holiday traffic and heavy loads. Although all seems well for current residents, will this open the floodgates for even more commuters to flock to Ashford as the ‘easy’ commute becomes attractive?

Rail Links

Although no new rail link infrastructures are being built around Ashford, in January of this year, it was announced that Ashford is the most cost-effective London commuter town.

Ashford international

According to KentOnline ‘, those travelling into the capital from Ashford can expect to fork out £14,164 a year on season tickets’. Ashford could become an attractive hub for commuters in nearby towns London renters alike. The cost of a season ticket from Ashford is a reasonable compared to what others might be paying on rent and season tickets, thus attracting individuals and families to flock from afar to take advantage of the cost-effective London commute.

So what is currently welcome news for London commuters in Ashford, could be not so welcome when their journeys are disturbed and overcrowded by new-comers!

Chilmington Green

Ashford’s first Garden City is being introduced to the town in 2018. Chilmington Green is designed to be a mixed-use community that meets the needs of a 21st-century community

chilmington-green

The development will comprise of 5,750 quality new homes, retail, community and social and recreational facilities. Initial infrastructure works are currently underway on site and due to be complete in spring 2018. Upon completion, the first 1,500 homes will begin their build process and over the coming 25 years, the development will benefit from 5,750 homes.

In 1961, Ashford’s population totalled 56,970, forty years later the population had almost doubled as the population total reached 102,661 in 2001. Ashford Borough Council predicts this number will only continue to rise with the approx. population total to reach 141,100 by 2021. Ashford residents can expect this to continue to rise beyond this time with the creation of the Chilmington Green development.

Ben, our Managing Director and Founder of Ben Siggins Estate Agents says “regarding Ashford and the current proposed development in the area, I would expect short-term price reductions during or immediately after the construction period of each building phase…In the immediate vicinity-within a quarter mile radius of the new development. I would expect prices in some cases to rise more quickly than in the wider area once the development is completed”.

Ashford McArthur Glen Designer Outlet Expansion

The popular McArthur Glen Designer Outlet centre is set to undergo a massive £90 million expansion. The designer outlet centre currently comprises of a variety of restaurants, cafes, a children’s play area and more than 80 designer stores.

Chapman_Taylor_Ashford2

With works having commenced in January 2018, shopaholics will have to wait until 2019 for the 100,000 sq ft extension to open. The extension welcomes 50 new luxury brands, and 500 new jobs – a huge employment advantage for residents in Ashford and surrounding towns.

Elwick Place Ashford

Ashford town centre is getting a refurb! Elwick place is set to see a brand new lesiure and restaurant complex in 2018.

elwick-road

According to the Elwick Road website, “Elwick Place will comprise a new 100,000 sq ft leisure and restaurant development in the heart of Ashford town centre in Kent, anticipated to open at Christmas 2018.
The development will include a new 6-screen Picturehouse Cinema, a 58-room Travelodge hotel, eight new restaurants and cafes, a new 282 space car park and a further potential phase of residential providing up to 200 apartments.”

Located adjacent to the County Square Shopping Centre which is already home to high profile brands such as Debenhams, M&S, H&M and Next, the new cinema and restaurants at Elwick Place will complement the existing opportunities available for shoppers, driving additional footfall and revenue to Ashford town centre.”

Ashford College also welcomes a brand new campus on Elwick Road. The campus offers state-of-the-art teaching facilities including fashion and photography studios, a professional kitchen, music production studio, multi-media learning resource centre and workshops for motor-vehicle, brick layering, plastering and plumbing. The addition of the new campus aims to attract students from across the UK and is designed to encourage collaborative group work and inspire students to achieve academic success and pursue career aspirations.

So…what are the pros and cons of these ongoing developments?

Ashford_Pros&Cons_Table

The creation of the Chilmington Green development is taking steps in the right direction to advance the 21st century; the quality homes and attractive community lifestyle is expected to attract individuals and families from around the South East and the rest of the UK. With the rising population in the Ashford area, will the addition of the new housing and community development benefit Ashford or lead to greater congestion and overcrowding?

This is what Chris, Ashford Branch Manager, has to say about the demand for housing in Ashford “In my opinion the next 12-18months we will see prices stay relatively the same but with a modest increase of maybe around 1.5% after this I expect prices to come down because of uncertainties in the market. We can see from history that when people are unsure about things they tend to do nothing. I believe after this downturn we will then see strong growth again. In the last downturn, Ashford’s demand for property remained high and I see no reason why that won’t continue. This should buffer us slightly from any downturn that may come as it did before”.

Ben, Managing Director at Ben Siggins Estate Agents comments on the impact of the McArthur Glen Designer Outlet expansion and the new Elwick Road Campus. Ben believes that the combination of new residential developments, new transportation links, school improvements and retail development will have an impact on house prices. Here at Ben Siggins Estate Agents, we expect houses prices to increase over and above the average as more people move from around the region to commute and find better living conditions.

Changes to the Housing and Planning Act 2016 – recovering abandoned properties

It has long been a very difficult and drawn out process to recover abandoned property through to courts but new measures have been introduced to allow landlords to legally recover abandoned property without needing to go to court.

These regulations are expected to come into force from October 2017 and should make the whole process somewhat easier for landlords and agents. Eligibility Under the act, a new statutory code is being introduced enabling landlords in England to recover property if the assured shorthold tenant has abandoned it, without the need to serve a Section 21 Notice or obtain a Possession Order. NB: the tenant must owe more than two months’ consecutive rent and must have left the property. What does this mean? The landlord or letting agent may give a tenant notice bringing the tenancy to an end on the day on which the notice is given if the tenancy relates to property in England, more than two months’ consecutive rent is owed, the landlord or letting agent has given the required warning notices and no tenant, named occupier or deposit payer has responded in writing to any of those notices before the date specified in the warning notices. NB: a deposit payer means a person who the landlord or letting agent knows paid a tenancy deposit in relation to the tenancy on behalf of the tenant. NB: a named occupier is a person named in the tenancy as a person who may live at the premises to which the tenancy relates.

What you need to do Where the landlord or letting agent believes that the premises has been abandoned, three warning notices must be given (at different times) to the tenant, any named occupiers and any deposit payers. The third notice must be stuck to the property, such as the front door. If none of these notices are responded to saying the property is not abandoned and/or no rent at all is paid can the property be repossessed.

Screen Shot 2018-01-11 at 15.21.01Reinstatement

Where the tenancy has been brought to an end by a warning notice and the tenant didn’t respond but they had a good reason for failing to do so the tenant may apply to the County Court, within six months starting when the order was given, to reinstate the tenancy. NB: if the County Court finds that the tenant had a good reason for not responding to the warning notice, the court may make any order it thinks fit for the purpose of reinstating the tenancy.

Want to find out more? Call Ben Siggins estate agents in Maidstone or estate agents in Ashford today.

Q&A with a client – What’s the Verdict on Ben Siggins?

Screen Shot 2018-01-11 at 12.29.14When Ben Hancock decided to sell his self-renovated property to move to a home more suited to his family’s needs, he turned to Ben Siggins to assist with his sale. Here, Mr Hancock offers a very honest review of his home selling process through the agency.

Had you heard of Ben Siggins prior to you selling your home? You seem to see the purple ‘for sale’ signs everywhere now and the name tends to stick in your mind as their branding is by far better than any other agent. Sounds daft, but if you are the sort of person that buys something for the way it looks, like an iPad or an Alfa Romeo, you tend to be drawn to a company that makes similar efforts; it suggests a sign of quality. Also, the photography is by far the best when on Rightmove. It makes a big difference as I’ve seen some nice houses done no favours at all by bad, dull photography.

Did you visit any other local estate agents when commencing your home sale? You do tend to get a feel for a company when you visit their shop to ask to be put on a mailing list for properties. From this, and the fact that through terrible past experience, I would never deal with a certain two national agencies again that happen to be almost next to each other in King Street, I already had a list of ‘definitely nots’. What attracted you to visiting your local Ben Siggins branch? I have to admit, I think I must have subconsciously made up my mind on the branding, photography and the ‘definitely nots’ list. The Owner, Ben Siggins, came to my house to value it and came across very helpful and genuine so I didn’t look any further. I got the impression that being a smaller company than the nationals, he still genuinely cares what happens and wants to give a more personal service.

Who was your point of contact at Ben Siggins when selling your house? Beth was dealing with the sale of our house. I do tend to struggle when something is out on my control so it was good that Beth was staying in contact and giving good feedback. It gave me the confidence that everything was being done that could be. Was the process plain sailing? The process was far from plain sailing, unfortunately – but not on Ben Siggins’ side. We lost the first two houses we tried to buy. The first was because the well-known estate agency did not play by the rules and worked in the interests of themselves instead of their client. My Google review for them was headed, “Greedy, dishonest, law-breaking shysters! Never again”. I say no more. The second unfortunately fell through because the vendors had to pull the property off the market at the last minute. We then almost pulled out of the purchase of the third property as the manager for the agency branch had told the most awful, blatant lie that was only discovered by our surveyor quizzing the vendor. Naughty naughty! I am glad we chose who we chose.

How do you feel that the level of service you received from the team differs from other estate agents?

I have dealt with many estate agents over the years and the difference appears to be a caring, personal touch from a company that hasn’t outgrown itself and forgotten what is important.

Personally, how do you feel that visiting an agent in person is beneficial to a potential seller?

Very important. Get a feel for who you are dealing with by going in and signing up to mailing lists. If they don’t even come back to you when you send an email enquiry, they probably aren’t worth being on the shortlist to visit. There will be far more taxing and important things for them to mess up if you entrust them with the sale of your home.

Did your agent go above and beyond at any point? If so, can you provide us with details?

When we lost the properties we were trying to purchase, I was going to drop ‘are you looking to sell’ flyers through doors in our chosen area. Ben Siggins offered to do this for me – maybe it was the sad puppy eyes!

Overall, how satisfied are you with your experience from Ben Siggins?

As if you need to ask! Very impressed and they will certainly be selling my next place.

How likely are you to recommend Ben Siggins Estate Agents to a friend or colleague and why?

I already have been, which says a lot. I’m always wary of recommending someone to a friend so I have to be totally sure of what I am saying.

I have dealt with many estate agents over the years and the difference at Ben Siggins appears to be a caring, personal touch

Want to speak to us about selling your property? Speak to our Ashford estate agents or our Maidstone estate agents here.

Exploring consumer attitudes towards estate and letting agents

what do consumers think of estate agents?Consumers have never been better informed than now. At their fingertips is a near-limitless supply of constantly-updated information about products and services that previous generations could not have imagined. Yet if one thing remains true throughout history, it is that everyone needs a roof over their head. In the contemporary world, that means the majority of us will at some point have dealings with an estate agent, either as buyers and sellers, landlords or tenants. We have recently received a report which explores attitudes towards estate agents using research commissioned by Feefo and some of the results are very positive when it comes to service from estate agents and what factors influence a customer’s choice.

Some of the most interesting results are as follows:

• 52% of consumers say the last estate agent they used was efficient and effective.

• Only 14% of landlords claimed that their last dealing with an estate agent was a disappointing experience in which there was a failure to deliver.

• The general level of satisfaction remains high with the main aspect they liked about the service received; 44% being the speed with which queries were answered.

• While nearly a third (32%) thought that virtual reality tours of properties would make buying, selling, letting or renting easier, substantially more (48%) thought online booking of appointments would be an advantage.

• From a list of factors that influence their choice between online-only and more traditional estate agents, low fees certainly did top the list; but only by a very narrow margin.

• Landlords (38%) were more concerned with the quality of service, whereas renters said low fees were uppermost in their minds (36%).

• The survey asked respondents to choose from a list of potentially decisive factors and found that by far the most influential for consumers was the feeling that they can trust the agent. This was chosen by 28%, with recommendations from family and friends the next biggest selected.

• 42% said knowledge of the local market was a top requirement when considering having their property valued.

• 70% of 25 to 34 year olds said they rely on reviews before they decide on an agent, (compared with 40% of those aged 55 and above).

• A high percentage of renters (68%) read reviews first. The figures indicate very directly how agents will need to make sure they fully adjust to this trend, which is bound to gather pace as the property market is entered by more young people completely accustomed to apprising themselves of online review content before making a decision

Looking to rent or buy your property in Kent? Find out about our rental and buying services with our estate agents in Maidstone.

Landlords to stand by agents in wake of tenant fees ban

questions to ask estate agentThe majority of landlords (71%) who use a letting agent will continue to do so even if they see their premiums rise following a ban on tenant fees, according to a recent survey (NLA/UKALA Quarterly Landlord Panel – Q4 2016). The research, from UKALA, shows that eight in 10 landlords (79%) think their letting agent will increase their fees as a result of the proposal to ban charges to tenants, as announced in the Chancellor’s Autumn Statement last year. However, just 9% of landlords say they will part ways with their agent if their premiums rise. The ban is criticised by UKALA which argues that affordability in the private-rented sector cannot be addressed by preventing agents from charging for legitimate business services and that the costs will eventually be passed onto tenants in the long-term. In response to a potential increase in agent fees following a ban, the research shows:

• 40% of landlords said they would increase rents to cover the cost

• 22% said they would look to shop around for a better deal

• 13% would attempt to negotiate or refuse to pay

• 9% would pay the additional fees • 9% would leave their agent

• 7% were unsure.

The findings contrast with recent research from UKALA which showed that almost half of landlords (47%) would forego the services of their letting agent if their profits fall following the changes to landlord taxation from April (2017). Both sets of research were undertaken by UKALA in conjunction with the National Landlords Association (NLA), in order to better understand the impact that recent government policy decisions will have on the professional lettings sector.

Are you a landlord looking to rent our your property, get in touch with our estate agents in Maidstone and Ashford here.

A lifetime of home buying revealed – the stats

 

The average British homeowner, who bought their first home at the age of 26, will live in seven different properties and will spend approximately £26,295 on redecorating their home during their lifetime, according to new research carried out by Origin, a manufacturer of bespoke aluminium bi-folding doors, residential doors, windows and blinds. The report discovered that UK adults will typically move out of their parents’ home at 21 years of age and reside in two rental properties before getting onto the property ladder for the very first time. The typical homeowner will end up living approximately 66 miles away from their childhood home, and will only live in two different cities their entire life.

Looking for your first home? Our estate agents in Ashford and Maidstone can guide you through the first time buyer process!

"When Ben came round and valued my property he explained in detail all the procedures, informed me of all the sites my property would be on."

– Sharon

"They went out of their way to help which should have been the job of our agent who we constantly had to chase."

– Colin Brackstone

"Ben made sure the photos were excellent, which is what really sold the property"

– Anchusa

"I was particularly impressed with the weekly updates from Ben and Dan detailing the number of 'hits' that my property had attracted on the big property search engines"

– Sarah

"I hope to be buying from you next year and will recommend you to future householders and tenants. Thank you Mr Siggins."

– Joe B
Maidstone
Call:

01622 524110

Email:

matthew@bensiggins.co.uk

Address:

29 Pudding Lane,
Maidstone,
Kent,
ME14 1PA

Gillingham
Call:

01634 581207

Email:

mark@bensiggins.co.uk

Address:

227 Canterbury Street
Gillingham
Kent
ME7 5XB

Kings Hill
Call:

01732 424091

Email:

ben@bensiggins.co.uk

Address:

26 Kings Hill Avenue
Kings Hill
Kent
ME19 4UA

Ashford
Call:

01233 646752

Email:

ben@bensiggins.co.uk

Address:

2 Market Buildings
Godinton Road
Ashford
Kent
TN23 1JA

Maidstone
Call:

01622 524110

Email:

matthew@bensiggins.co.uk

Address:

29 Pudding Lane,
Maidstone,
Kent,
ME14 1PA

Gillingham
Call:

01634 581207

Email:

mark@bensiggins.co.uk

Address:

227 Canterbury Street
Gillingham
Kent
ME7 5XB

Kings Hill
Call:

01732 424091

Email:

ben@bensiggins.co.uk

Address:

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Kings Hill
Kent
ME19 4UA

Ashford
Call:

01233 646752

Email:

ben@bensiggins.co.uk

Address:

2 Market Buildings
Godinton Road
Ashford
Kent
TN23 1JA

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