Northfields

One to View: First Time Buy at £250,000

Light Up Your Life

 A 1 bedroom flat with its own private garden and conservatory with light and bright reception, separate kitchen, stylish bathroom and spacious bedroom.

The Property for sale:  1 bedroom flat

Where:  Radbourne Avenue, Ealing, W5

The Price:  £250,000

Click the link to get photos, floorplans and information or to book your viewing online for this 1 bedroom flat for sale in Ealing.

See more properties for sale under £250,000 by clicking on the link.  Or call Northfields now on 0208 840 6666 to make sure you are the first to view our hottest properties. 

Questions on the Budget 2010: Stamp Duty Questions answered

In the latest budget it was announced that homes under £250,000 will not be subject to stamp duty.  This "stamp duty holiday" will last for two years and only applies to first time buyers.  In addition, an increase in stamp duty for properties worth more than £1m has been suggested to begin in April 2011, well after the election.

Following the announcement, there was so much confusion regarding the new policies that the Treasury's website crashed as it was unable to deal with the numbers of users trying to scour its pages for answers.

Here, Northfields tries to answer some of the more common questions:

Question:  If I just completed on a property in February, can I claim the stamp duty back?

Answer:  Unfortunately, no.  The stamp duty holiday is not retrospective.

Question:  My partner has never owned a home, but I have.  If my partner and I buy a property together will we qualify as first time buyers?

Answer:  The HMRC advises that:

"The purchaser must not, either alone or with others, have previously acquired a major interest in land which includes residential property, or an equivalent interest in land situated anywhere in the world."

Put more simply, that rules you out as joint purchasers because one of you has previously owned a home.

However,the HMRC has advised that one way around this is to purchase the property in your partner's name only as they would be a genuine first-time buyer and would therefore be able to benefit from the stamp duty holiday.

Question:   I am originally from outside the UK.  I used to own property in my home country,  but I now live in rental property here in the UK, do I qualify for the stamp duty relief?

Answer:  Simply, no.  You can't have previously owned a property anywhere in the world.
   
Still have questions?  You can call the Stamp Taxes Helpline on 0845 603 0135 or go to the HMRC website for its guidance or alternatively call Northfileds on 0208 840 6666.

Now Easier for First Time Buyers to Save a Deposit

The latest edition of the Find a Property House Prices & Affordability Index reveals that it is now easier for
first-time buyers to get onto the property ladder than it has been at any time since the start of the credit crunch.

Why?

Mortgage Lenders have eased their lending criteria, combined with the prices of entry level properties remaining more or less stable over the past year.

With the latest announcement from Alistair Darling that properties worth under £250,000 will not be subject to stamp duty for the next two years, things are set to improve even more for the first time buyer.

Nigel Lewis, property expert at FindaProperty.com, comments: "This month, with lenders being more generous and property prices largely stable, the effective deposit is a bit smaller, making it easier for first-time buyers than since the start of the credit crunch.

"The cloud on the horizon is that prices are starting to show signs of upward pressure which could make homes more expensive over the coming months, if there remains a shortage of stock.

"More properties are coming onto the market, but there are still 12 per cent fewer entry level homes available than a year ago.

"Lenders’ recent relaxation of criteria is welcome.  They must keep up the good work, and actively look for ways to help hard working British families who see 2010 as the year to get on the housing ladder."

Want to see what kind of deposit you would need to save to buy your own home?  Call Northfields now on 0208 840 6666 and we'll put you in touch with an independent mortgage broker who can tell you exactly what you would need to save to get on the property ladder.

New Budget Gives First Time Buyers a Leg-Up the Property Ladder

Alistair Darling just announced in the latest budget that Stamp Duty on properties under £250,000 will be suspended for two years.  The announcement is likely to give the housing market a significant boost while giving first time buyers a boost onto the property ladder.

A previous stamp duty holiday which ended on January 1st, 2010 had little impact on the West London market as so few homes were under the £175,000 threshold set in the previous stamp duty holiday.  However, with this new and farther reaching stamp duty holiday, homes for sale under £250,000 make up a large percentage of the market and account for many first time buyer home sales.

The Nitty Gritty

• No stamp duty on purchases of property up to £250,000

• Buyer (or all buyers if joint purchase) must not have previously owned a property anywhere in the world

• Completion date must be on or after 25 March 2010 and before 25 March 2012

• Property must be your only or main home

What does it mean for First Time Buyers?

For first time buyers the suspension of Stamp Duty in this price bracket will save them up to £2,500. Stamp Duty is currently levied at 1% on transactions between £125,000 and £250,000.  From midnight tonight until March 25, 2012 first time buyers will save a significant amount of cash.

Take advantage of this huge savings and start looking for property now.  Check out the properties Northfields has for sale under the £250,000 bracket by clicking here.  Or to find out what properties are coming onto the market before anyone else, call now to register your details on 0208 840 6666 or click here to register online.

What does it mean for Home Owners?

If you own a property that is likely to be purchased by a first time buyer and with a house price that falls under the £250,000 threshold, you may find there is a sudden influx of interested buyers where previously you may have struggled to find a buyer.  

Make sure that your home is on the market now to take advantage of the pent-up demand from first time buyers.  Call us on 0208 840 6666 to request a free valuation of your property or click here to request a valuation online.

Five to View - Properties for Sale with Dream Kitchens

1.  Open Plan Entertaining

This two bedroom flat in a purpose built flat offers the perfect space for entertaining.

The Property for sale:  2 bedroom apartment

Where:  Northfield Avenue, Ealing W13

The Price:  £254,950

Click here for more photos, floorplans and information or to book your viewing online.

 
2.  Room to Eat-in or Out

Not only has this property got a kitchen large enough to eat-in, but it also has access to the huge 55' south facing garden - eat indoors or en-plain air.

The Property for sale:  3 bedroom, 2 reception room semi-detached house

Where:  Long Drivet, Acton, W3

The Price:  £399,950

Click here for more photos, floorplans and information or to book your viewing online.

 

3.  Contemporary Cuisine

If you like your kitchen sleek and stylish - this kitchen is for you.  Plus, these apartments are brand new with stunning style, balconies and underground parking. 

The Property for sale:  2 bedroom apartment

Where:  Windmill Lane, Brentford, TW8

The Price:  £250,000

Click here for more photos, floorplans and information or to book your viewing online.

4.  Breakfast Bar

A bright white kitchen with a breakfast bar is just one of the features of this 3 bedroom house.  The two bathrooms, large sunny garden and immediate vacant possession all make this property good enough to eat.

The Property for sale:  3 bedroom, 2 bathroom house

Where:  Wulfstan Street, Acton, W3

The Price:  £359,950

Click here for more photos, floorplans and information or to book your viewing online.

 

5.  Just Plain Gorgeous

Keen cooks will love the space of this kitchen with its pass-through to the dining room and patio doors to the garden.

The Property for sale:  3 bedroom, 2 bathroom family house

Where:  Dudley Gardens, Ealing W13

The Price:  £525,000

Click here for more photos, floorplans and information or to book your viewing online.

Want to see more properties for sale?  Click here to keep searching or call 0208 840 6666 to register your details so that you find out what properties are on the menu before anyone else.

Northfields Easter Opening Hours

Northfields will be open over the bank holiday weekend as follows:

Good Friday                  CLOSED

Saturday 3rd April           9.30-4.30

Easter Sunday               CLOSED

Monday 5th April             10am-4pm

Northfields would like to wish you a very Happy Easter.  Enjoy the bank holiday.

If you would like to arrange viewings over the bank holiday please call us on 0208 840 6666 or register online here.

What is in Store for the Lettings Market in 2010?

The lettings market has been hit with a raft of changes over the last few months. Here, Silvia Eldawi, Lettings Director for Northfields Estates, shares her views on their impact.

Changes to Regulations

The most significant change on the cards for the lettings industry in 2010 is yet to come. It is an increase in the maximum assured shorthold tenancy threshold of Housing Act 1988 tenancies from the current £25,000 per annum limit to £100,000. (Click here to find out what an assured shorthold tenancy is).  Naturally, this will mainly impact the prime London residential lettings sector, where a number of properties exceed this threshold.

Taking into account inflation and rising rents in the past 20 years, it is most certainly the right time to increase the original threshold of £25,000, introduced in 1990 to exclude luxury lets. The increase will offer greater consumer protection for tenants and better legal redress for landlords, and overall make life easier for letting agencies as one procedure will apply for the majority of tenancies.

My only concern is that as thousands of existing contractual tenancies will come under the Assured Shorthold Tenancy umbrella overnight, this will without a doubt lead to a further surge in litigation in respect of unprotected deposits. Many more deposits will have to be protected thus exacerbating the strain already on the deposit protection schemes.

Forecast for the Lettings Market in 2010

We are experiencing a greater demand for rental properties and a shrinking supply as "accidental landlords" (those who found that they couldn't sell their properties, so opted to let their properties instead) return to the sales market. Supply is also being hit as tenants opt to extend their tenancies and remain in their existing properties. This is a far cry from the upward mobility of tenants we experienced between 2004 and 2008, and helps explain the findings of a recent study, which suggest that the average age of a first-time buyer has risen from 27 to 37 during the last 30 years.

With more tenants chasing fewer properties in 2010, we are expecting rents to rise in line with inflation.

Meanwhile, the corporate lettings market has seen a much-welcomed resurrection in 2010 as the global economic climate becomes more positive and companies start reinvesting in relocation packages for their senior executives. This year, we will be opening our first central London office in Paddington to cater for this fast-moving central London market.

If you have a property that you would like to rent, call Northfields on 0208 567 6660 to take advantage of our award winning service and expertise or click here to request a valuation online.

How to Negotiate When Placing an Offer

Peter Bolton King, CEO of the National Association of Estate Agents, of which Northfield is a member, gives some quick tips on negotiating.  If you've found that perfect property it is now time to place an offer, but where do you start?  Watch this video to see Peter Bolton King's expert tips:

If you haven't found that perfect property yet, click here to see what Northfields has to offer, so that you can make that offer when you are ready.  Or call 0208 840 6666 to register your details so that we'll call you before new properties even get posted to the website.

What is Gazumping and How to Avoid it

This video briefly explains what gazumping is and what a prospective buyer can do to avoid it.  Have a look:

If you would like any further advice on what do to avoid gazumping, call Northfields on 0208 840 6666 or e-mail sales@northfields.co.uk.

Job Vacancies for Lettings Negotiators

Northfields are currently interviewing for lettings negotiators for positions at various office locations. 

Northfields has repeatedly won awards for training and development, most recently in the Estate Agency of the Year awards in 2009. 

The Financial Times also recently featured an article about how we have kept staff motivated.  Click here to read the article.

If you are interested in becoming part of our award-winning team, please e-mail your CV with a covering letter to helen.kennedy@northfields.co.uk