As frustrated holiday makers rush to book flights abroad with the further relaxation of COVID rules, Perry Bishop too has decided to call upon the services of a pilot! However, this pilot licence belongs to qualified drone pilot Daine – our new videographer whose videos includes use of a drone to create sensational video tours of our new property listings. With Daine’s help our property videos now give home hunters a brilliant idea of the area in which our houses and apartments are set as well as a really good understanding of the flow of the interiors as he moves from room to room.

Take a look at some of the wonderful video tours he has already created for Perry Bishop since joining us at the beginning of September, by visiting our youtube channel.

Daine has worked as a videographer in estate agency for four years. He particularly enjoys capturing the personal characteristics of people’s homes to really show them off. He has worked all across the south west of England and as a qualified drone pilot he manages to add something special to each video. When he’s not with his camera, he enjoys playing tennis, football with his sons and family days out.

Our clients too are really pleased with Daine’s new look property tours which are gaining lots of interest on our social channels as well as on youtube. The combination of breathtaking aerial footage, 360 degree interior shots and a carefully selected soundtrack have transformed our property video tours.

Take a look at the great video Daine has recently filmed to promote an apartment  in the Stroud Valleys being marketed by out Lettings team, a still of which appears alongside this blog.

If you’re looking to sell or let your property and would like to take advantage of this brilliant new way of marketing your property do get in touch with your nearest Perry Bishop team.

Craig Legge from Mortgage specialists Mortgage Habitat discusses remortgaging, growing your portfolio and preparing for changes to the EPC rating on rental properties.

Recent consumer research carried out by Legal & General Mortgage Club, found that 41% of respondents were considering not re-mortgaging, and instead staying with their existing lender and accepting the switch to a Standard Variable Rate (SVR).

Save Money

Based on a property of £250,000 with a mortgage at 75% LTV (£187,500) you could save over £4,000 per annum with a 5-year fixed rate at 1.79% compared to a Standard Variable Rate of 3.99%.

Grow your portfolio

Do you know how much your property is worth and do you have sufficient equity to raise a deposit for another investment home?
Most lenders can lend up to 75% of the value of buy to let property, the market is even starting to see the return of 80 and even 85% LTV since disappearing with COVID allowing you to leverage more out of your properties.
Have you considered raising money against your properties to buy more and expand your portfolio?

Renovate your properties

As of 2025, all buy to let property starting a new tenancy will require an EPC rating of ‘C’. Existing tenancies have until 2028. You can check your current rating here https://find-energy-certificate.digital.communities.gov.uk/. These works can be expensive and you may wish to raise finance out of your properties to do the works.

You can raise money simply for other home improvements as well, could your property achieve a higher rental income after a light refurbishment?

For help and advice with remortgaging please contact Craig Legge at Mortgage Habitat:
t. 07734863834  e. craig@mortgagehabitat.co.uk

There may be an early repayment charge payable if you remortgage. Your home may be repossessed if you do not keep up repayments on your mortgage.

 

For the past couple of months green fingered enthusiasts across Cheltenham have been busily sowing seeds, planting, watering, and tending imaginative horticultural creations in the hope of winning the ‘Most Attractive Property Front Thanking the NHS competition’. The competition was organised by the Cheltenham branch of Perry Bishop, one of Gloucestershire’s leading estate agencies, to thank the NHS and key workers for their tireless work during Covid. Webbs Garden Centre sponsored the competition, putting up a fantastic prize of £250 worth of vouchers to be spent at their store.

TV celebrity, horticulturalist, and author Stefan Buczacki met the winner Caroline Caine from Lypiatt Street, who entered her rainbow bath and themed front garden. She was delighted to receive a winner’s certificate, £250 worth of Webbs garden vouchers, along with a personalised and signed book from Stefan, ‘Garden Natural History’, which explores the relationship between wildlife and gardens. In true English style she then invited Stefan for tea and pastries, which he was delighted to accept:

“What a privilege it has been to be involved in the NHS Property Front Competition. Plants of course have always been important in my life, while the NHS has over the past eighteen months proved itself one of this country’s most cherished assets. With two hospital consultants in my own family, I have been close to seeing how much has been sacrificed by so many to keep us safe. It was a delight to judge the splendid entries which proved once again Cheltenham’s reputation as one of the great floral towns of England. My congratulations to all who entered.”

Perry Bishop also attended the prize giving. Gavin Wallace, Director Perry Bishop in Cheltenham:

“We were delighted to receive so many uplifting entries for the Most Attractive Property Front competition. The winner, Caroline, worked rainbow colours into her display in a very clever way. We hope that the displays have lifted spirits and hearts whilst people have been out and about in the Gloucestershire area this summer. It has felt like a very fitting tribute to thank NHS and key workers for their tireless work.”

Ensuring your property front looks the part is crucial when looking to sell your home. Do get in touch for advice on maximising your kerb appeal if you are looking to sell this autumn.

Managing Director, Phillip Bishop, comments on the state of the property market ahead of this autumn.

Lots of buyers and sellers are currently asking us, “Where are we?”. What they mean is, now that the stamp duty holiday is over, where are we in the property cycle?

The property cycle can be looked at as a clock.

Twelve o’clock represents mad panic buying. Prices are going through the roof, there is little coming onto the market and what there is, is selling like wildfire. Buyers have no time to consider, they have to act. It is the classic sellers’ market.

Six o’clock is the opposite. There are lots of properties on the market and very few buyers – as most bought at twelve o’clock. Prices begin to steady and then may fall. Sellers reduce ambitious asking prices. Buyers make low ball offers. This is the classic buyers’ market.

Three and nine o’clock represent balanced markets. There are just enough properties for buyers. Buyers have some choice and time to consider, whilst sellers have time to wait for the right buyers. Everyone is reasonably happy as, all in all, things seem fair. Hitting this rare time of parity is seldom done through good judgement, it is more often achieved through circumstances and good luck. This market is a bit like the Hogwarts’ bus, one is never quite sure when it is going to arrive.

So where are we now? I’d say at about seven or eight minutes past the hour. The mad panic buying brought on by Covid seems to have passed. We appear to be working towards an equilibrium.

But this clock is not regular. The hand on the property dial moves at different speeds depending on interest rates, inflation, supply and demand, and confidence. Very occasionally, the hand could even go into reverse. Property does not act like clockwork.

However, we believe the property market is slowly working its way towards three o’clock, the perfect time to buy and sell. The Hogwarts’ bus could well be on its way!

Find our how much your property is currently worth. Book your free valuation here.

We look forward to helping you with your next move.

Do you know where your boundaries are for your property? And, do you know which boundaries you are responsible for?

There are many myths surrounding boundaries and responsibilities, so we’ve put together this short guide to help you understand where your property boundary is – or if you don’t, knowing how to find it!

Is it important to know my boundaries?

Sometimes it’s easy to spot exactly where your property boundary is. Chances are, there will be a fence or a hedge or some other structure that helps define the boundary.

But that is not always the case. It might be that the boundary is overgrown, or there is no definitive boundary to be seen. There could even be not-so-neighbourly disputes that occur about trees planted on a boundary for example, with one side saying the other has to sort things out and the other side are in disagreement. That’s why it’s important to understand boundaries! Not to mention the fact that it’s useful to know exactly what’s yours!

Will the title deed of a property tell me about my boundary?

Actually, while you would have thought so, it’s not always the case – but it’s a good place to start.

If you look at the Government website, it’ll tell you that to find out about boundaries, you need to look at the Land Registry website and find the title plans. The Land Registry is where ownership of land is registered, and the title plan outlines the land in question.

The website states: “Most title plans don’t show exact boundaries”, however, this is not a huge issue as the website goes on to state that “you usually don’t need to have the exact boundaries recorded anywhere”.

So, I can make an agreement with a neighbour about my boundaries?

Yes, you can make an agreement with a neighbour which is handy because between you there can then be no dispute as to which bit of land is yours and what you are responsible for.

You can do this informally, or you can apply to have it officially registered. There is a process to go through and certain details are required. It’s best to seek formal legal advice on matters like this.

Is it right that the rule is that I’m responsible for the left-hand side of a property boundary?

This is something many people believe to be true but it’s not! There is, in fact, no legal basis to this. Some people, even solicitors, will say that a red line on a title deed marks the boundaries, and therefore responsibilities, but this is not always the case either.

As the Land Registry says, it’s just the general boundary.

The red line will fall within the boundary, but in the case of a dispute, it is the courts that will decide.

What if my boundary is obviously marked by a fence and trees?

If you plant a hedge or a tree, what happens when it grows so wide that the original boundary becomes obscured? You may have a fence installed – but does it run along the boundary or is it just inside?

It’s fair to say that you should not assume anything as boundaries can become blurred over time.

How can I find out where my boundary is for sure?

There is a document called a Title Plan. On that plan, which goes right back to when the land was originally developed and sold, there will be a boundary mark, and on it will be a shape like the capital letter T.

Where the top of the T falls, it is the owner of that land that has a particular responsibility. But, again, be careful. Just because you have responsibility does not necessarily mean you have ownership!

Are boundaries really this confusing?

It’s clear that the rules on boundaries aren’t always crystal clear. But, you will need the information when you are ready to sell your property.

Your conveyancer will definitely want to know about boundaries and responsibilities because the Land Registry will need to know who owns what and where. And of course, you and your buyer will want to know for sure too.

A conveyancer will likely ask if the boundaries are your understanding. So, if you’re thinking about moving home, we suggest that you gather all the paperwork regarding boundaries together in good time so that it can be presented to the conveyancers. If there are any issues with land ownership and boundary lines, they are the ones who will ask the questions and raise enquiries.

While boundaries are not an issue for the majority of home movers, they can become a legal minefield for others and it’s easy to see why neighbourly disputes can occur.

If you have any questions, please do get in touch with your local property experts, Perry Bishop.

Our Cirencester team is right behind the new government backed ‘My Cirencester’card which was launched earlier this year for the benefit of people living in and around Cirencester.

Designed to help get our wonderful town back on its feet after an unprecedented year, there’s a range of attractive discounts and exclusive offers to choose from. Let’s support our great local independent shops and businesses. If you haven’t got yours yet, pop into Perry Bishop or any other participating retailer to pick up your card and Shop Local.

For further details click here.

Perry Bishop, one of the Cotswolds’ leading estate agencies, reflects on the post Covid landscape, revealing that the exodus from cities is still ongoing, with Cheltenham and other Gloucestershire towns and villages  proving particularly popular.

Gavin Wallace, Director Perry Bishop Cheltenham:

“We’re now seeing that flexible working post Covid has changed the way that we all work and live, on a permanent basis. As summer continues and the remaining restrictions are lifted, we are continuing to see increasing numbers of people still looking to move from cities like London and Birmingham, wanting to settle in and around Cheltenham, where demand still outstrips supply. People want better value for money, a higher standard of living, a home with separate office space, a larger garden…Workers are looking to leave the ‘rat race’ behind for good. They’re making permanent relocation moves, which they could have only dreamt of before”

Employers are aware of talent exodus from cities like London, taking on board the increased desire from highly skilled people to move to less metropolitan locations now that they can benefit from a remote working environment.

Gavin Wallace:

“This migration of talent is meaning that employers have to broaden the geographical scope of their workforce solutions, and re-evaluate where top talent is now located. As a result of its proximity to urban centres like London, Bristol and Birmingham, Gloucestershire and Cheltenham has attracted many large corporations and multinationals looking for a UK base. It’s also the ideal base for families with Cheltenham boasting some of the UK’s top grammar schools like Pate’s, Balcarras (usually appears in Top 10 State Schools in UK, outperforming both grammar and private), and world-renowned private schools like Cheltenham Ladies College”.

The Regency town of Cheltenham also holds its own against London in terms of food, festivals and lifestyle, as well as having an enviable semi-rural location. The centre boats all the usual major high street shops, restaurants, and cafes, as well as wonderful independents. Swap average house prices of £709K for £393K and you can see why the Sunday Times (2020) named Cheltenham as the best place to live in the South West!

It’s every homeowner’s dilemma and we hear it almost every day, particularly in the current market where the number of properties coming to market is relatively low. Rightmove talk about it being the “strongest sellers  market in the past decade”,  so naturally many of us are keen to benefit from securing a great price for our property. Yet still the nagging doubt remains – Should I agree to sell my current house before I look for one to buy? What if I can’t find one that I like but I’ve already agreed to sell mine? Could I pull out later? Could I be homeless? Should I go into rented in the meantime? I don’t want to let my buyers down? – I’m not that sort of person!

The question is a tough one and we don’t have a definitive answer for you, but we can advise you about the pros and cons. Much of it is really about your own personal situation, why and when you want to move.

Agreeing to Sell your own house first

The advantages

‘Selling first’ generally means that you have accepted an offer from a willing buyer. It doesn’t mean that you will need to have moved out of your own home prior to looking for a new one! Your sale will effectively be subject to you finding somewhere to buy.

Agreeing to sell your own home first puts you in a perfect buying position to help find the house you like. It puts you in an excellent position to not only be able to view properties but also to put in an offer. What’s more, it puts you in a position of strength to negotiate hard on both the price and any terms attached. It makes you a very credible buyer, one who must be taken seriously when offering. When you find yourself in a situation where you ‘need’ (as opposed to ‘want’) to sell, you immediately weaken your negotiating position.

Being able to advertise your own property as ‘no onward chain’ will help you stand out and increase the attractiveness of your property.
It will work to your advantage in this fast-moving market. At the moment, property has been selling very quickly indeed and therefore, you’ll be a ‘no chain’ or ‘hot buyer’ in a competitive situation. You’ll be shown properties as they hit the market and having the luxury of choice, instead of simply waiting for what has been left over. You will, or should, receive calls from estate agents when a new property hits the market prior to seeing it on one of the property portals.

If you’re not under pressure to sell, it means that you can stay at the price you like and wait for the right buyer to come along. Once you have agreed to sell, you then know exactly what money you have to play with, so, can be sure as to how high you can offer on your next home.

Your seller will take their property off the market and mark it as ‘sold’ on line, once terms are agreed with you, as you have agreed to sell yours and your chain is complete. It is essential that you make ‘having the property you are buying taken off the market’ as part of your negotiations. If it were allowed to be left on the market ‘for sale’ you run the risk of the seller being tempted with a higher offer, should one come along (we call this being ‘gazumped’).

The disadvantages

Once you have decided that you’d like to move, it’s hard not to start looking at the homes that might be available. If you then spot your dream house and you’re not in a position to buy, it can be very disappointing indeed.

In an attempt to get the maximum possible sale price for your home, you may turn down early offers, that could turn out to have been very acceptable had you already found a home to move to.

There is increased risk of ‘buyers’ remorse’; the pressure to find a new home may cause you to make a poor buying decision.

The market may change during the time that you take to sell. This may mean that prices keep rising and the property that you could have afforded a few months ago is now receiving offers above what you are willing to spend.
If you do agree to sell your house but cannot then find one that you would like to buy, you may find yourself having to move into rented accommodation. This is often a big upheaval and could incur hidden additional costs such as putting some your belongings into storage. However, this could be a good move if you feel you have secured a fabulous sale price on yours and do not want to let an opportunity slip through your fingers. It also puts you in the very best of buying positions when you do eventually find your next one.

Buying or finding your next home first

The advantages

There are no advantages of this in the current really busy, sellers, market! You will most likely and literally never move if you try and find first!
However, in a normal, more balanced property market……
With no buyer putting on the pressure for you to move out, you’re free to view other properties at your leisure. This might mean exploring different ideas and locations, age and type of house. We often find that buyers will view houses that they may not have first considered but find that this adds an extra dimension to the list of ‘wants’ from their new home.

You might have already spotted your dream home before you decided to sell. If it’s what you really want then securing it with a good offer might make all those dreams come true!

If house prices are rising or offers are more often than not being accepted above and beyond an asking price, then now’s the time to jump in with both feet. After all – things will only get more expensive.
Most people need access to the money tied up in their own property to assist with the purchase of the new property and most mortgage lenders won’t allow you to run your new mortgage at the same time as your existing mortgage.

The disadvantages

If you find a house that you really want then you’ll be under a lot of pressure to sell your own. Not only can this be extremely stressful, but it also may mean having to accept an offer that is below what you might originally have wanted.

In extreme circumstances buyers will complete on a purchase before they’ve sold their own. This can sometimes only be achieved with a second mortgage or a bridging loan or, of course, the buyers have come into some money and have cash! This can be very stressful and financially risky, particularly if the market changes or the sale of your house falls through.
Going back to how an estate agent works (on behalf of the seller) you are going to be introduced to the property last every time. The chances are, that by the time you become aware of the property, it will be under offer, or, have so many viewings booked on it already from ‘proceedable buyers’, that they are accepting no further viewings.

Letting your house is another option to try and put yourselves in a better buying position. The reality is, that you would not be letting tenants move in until you move out so, at the time of wanting to view or offer you would still be a buyer who needs to let their property before being able to proceed with a purchase. Letting can lead to damage from tenants, added pressure and would also have to be done for a minimum term, which you may wish to break if the situation becomes too difficult, but would not be able to. Also, not everyone is a natural landlord. There is so much red tape. Did you know that, just during this Pandemic, there have been 47 new items of legislation that apply to letting your property!

If you commit to the purchase in a cooler market and don’t sell you could find yourself in a breach of contract situation which can be very expensive. But, don’t worry, please remember, your solicitor would not let, or advice, you to exchange contracts on your purchase if you do not have a buyer on your own property and are able to exchange contracts for the sale of that at the same time – that would be madness!

Above all, the most important thing is ‘transparency’ when you agree to sell your home. Your estate agent needs to ensure that your buyer is very clear that they are waiting for you to find your next home. They need to know that you may not find one for, not just a week or two, but it could be a month or two. Your agent may tell you that it is not just about ‘selling’; it is not just about selling at a fantastic price; it is, most importantly in the current climate, finding the right buyer for you – this means timescale HAS to be discussed. Your agent must manage the expectations of both yourself and your buyer. If a particular buyer wants you out in 6 weeks and you need to find first, then this is not the right buyer for you. You would need a buyer who is, perhaps, in rented accommodation, who is happy to just sit back and wait for you to find. This means that you don’t feel pressured to find and your buyers know that there will be a delay.

Does this help you to come to a decision about the next steps for you? Give us a call to discuss your options and learn too about our unique Low Key Marketing service, ensuring you’re in the best position when the right property does come along. We’re always happy to help.

Whatever stage you are at in your moving house journey, even if you’re only thinking about a move, we look forward to hearing from you. Book your appointment now for expert property advice and an up-to-date valuation.

The monthly House Price Index published today by Rightmove indicates that despite a small drop in prices of the upper-end four-bedroom plus sector (where buyers can no longer benefit from larger stamp duty savings), the property market remains buoyant, characterised by a strong incentive for owners to come to market with “sell before you buy”.

“Sell before you buy is a successful tactic in fast moving markets, especially the current one where any new listings popular in both specification and location are selling in days rather than weeks . . . estate agents know the best tactics to secure the best properties, so it’s well worth sounding them out with a discussion on selling before buying”, comments Tim Bannister, Rightmove’s Director of Property Data.

• First-time buyer properties, up by £1,328 (+0.6%) in the month
• Second-stepper properties, up by £975 (+0.3%) in the month
• Upper-end four-bedroom-plus sector, down by £4,699 (-0.8%) in the month

Buyer demand remains strong, suggesting an Autumn bounce in prices and seller activity.

Read Rightmove’s House Price Index report for August in full here.

Anyone living in Gloucestershire, Oxfordshire or Wiltshire wishing to take advantage of the “best sellers market in a decade” but  struggling to find their next home should talk to Perry Bishop about our Low Key Marketing service – ensuring you’re in the best position when the right property does come along.

We look forward to helping you with your next move!