EPC certificates explained

An EPC certificates are shows how energy efficient your property is, the document includes estimated costs for energy and the homes energy performance features.

Epic Ratings

A certificate will have an efficiency rating between A and G and will look like example as below

Since Energy Ratings have been very significant in home sales for the last few years , new build home are geared towards achieving very good energy ratings , this is older homes sometimes need some or a lot of work to get a better energy rating as properties in the past were not built for energy conservation .

Things that will help energy ratings are as below 

Windows that are double glazed 

If you don’t yet have double glazing fitted, you could be surprised at the difference it can make to your annual energy bills.

Your initial investment will be fairly high but double-glazed windows will trap more heat inside your home, meaning they will save you money in the long term.

Double glazing is available in a variety of styles, so it doesn’t have to ruin the look of your home. When you are choosing your windows, look out for the ‘Energy Saving Trust recommended’ logo as this seal of approval is only given to the more efficient windows.

Wall with cavity insulation   

Un-insulated walls are another big cause of the heat lost in your home. Filling cavity walls could save you between £70 and £255 a year, according to the Energy Saving Trust.

However, a job like this doesn’t come cheap – cavity wall insulation costs from £330 upwards depending on the size of your property – but some energy suppliers will offer funding if you’re on certain benefits. Give yours a ring to find out.

Insulated loft

Poorly insulated roofs and walls can be a major cause of energy wastage. But with decent loft insulation, you could save between £120 and £225 a year, depending on the type of property you have and where you live, according to the Energy Saving Trust.

Upgraded energy efficient boiler 

Did you know inefficient boilers could be adding a few hundred pounds to your energy bills? That means that upgrading yours could be a great way to cut what you pay in the long term.

It’s also a great way to dramatically reduce your home’s carbon emissions – boilers account for 60% of the carbon dioxide emissions in a gas heated home.

Boilers are rated on a scale of A to G, with A being the most energy efficient. If yours is at the lower end of the scale then investing in a new one could save you a packet over the long-term.

Some simple things that you can do that will not cost a fortune 

Thicker curtains 

Energy efficient kettle and oven 

Turn off appliances that are not being used 

Get energy supplier to fit a smart meter 

Change habits make sure lights are off when not needed 

Keep doors shut.

If you have the money to do this 

Solar panels  

Solar panels enable you to generate some of your own heat or power so you’ll save money on your bills. Previously, you could even sell energy back to the National Grid with a feed-in tariff, but this scheme closed to new applicants on 31 March 2019 (anyone who has had solar panels installed before this date will still benefit).

However, the government is introducing a Smart Export Guarantee (SEG) that means most suppliers will need to pay you for your exported excess electricity. This won’t start until January 2020, but some companies, such as Octopus, are already offering SEG tariffs to customers.

Northern Irish customers can already get paid for any surplus power they export.

Some solar panels warm the water in your tanks by a small amount, reducing your overall bills.

But those with photovoltaic (PV) cells actually generate energy and the Energy Saving Trust thinks the average home can provide 40% of its power this way.

The average PV system costs between £5,000 and £8,000, so it’s a big initial outlay, although it depends on the amount you want to generate and the space you have for the panels.

But the good news is solar panels work even when it’s cloudy, so don’t let the UK weather put you off. It’s also sensible to set appliances such as washing machines to run when it’s lightest outside to get maximum benefit.

What is the EPC register? EPC checker 

This is a government database that stores every property that has a proper PEC certificate and you can use it to look up a property energy rating, if an EPC certificate hasn’t ever been attached to a property it will not show on the register.

How long does an energy performance certificate last? EPCs are valid for 10 years. They were first introduced in England and Wales in 2007 so, depending on when you moved in, your property may already have a valid certificate. Use the EPC register's look-up tool to check if you have one - and, if so, whether it's still valid.

How much do EPCs cost? EPCs can cost up to £120, although the price is much lower for most properties. While all homes need to have an EPC before they can be sold or let, there's no benefit in choosing a more expensive provider, so make sure you shop around for the best deal. Going directly to a domestic energy assessor rather than getting one through an estate agent is generally cheaper.

Finding an energy assessor

If your property doesn't already have an EPC, you'll need to get one before you can sell. Many people do this via their estate agent for convenience, but this is generally the pricier option. To save money by arranging your EPC independently, search the EPC register's assessor page to find an accredited domestic energy assessor. How long does an energy performance certificate last? EPCs are valid for 10 years. They were first introduced in England and Wales in 2007 so, depending on when you moved in, your property may already have a valid certificate. Use the EPC register's look-up tool to check if you have one - and, if so, whether it's still valid. How much do EPCs cost? EPCs can cost up to £120, although the price is much lower for most properties. While all homes need to have an EPC before they can be sold or let, there's no benefit in choosing a more expensive provider, so make sure you shop around for the best deal. Going directly to a domestic energy assessor rather than getting one through an estate agent is generally cheaper.

 

How long does an energy performance certificate last? EPCs are valid for 10 years. They were first introduced in England and Wales in 2007 so, depending on when you moved in, your property may already have a valid certificate. Use the EPC register's look-up tool to check if you have one - and, if so, whether it's still valid. How much do EPCs cost? EPCs can cost up to £120, although the price is much lower for most properties. While all homes need to have an EPC before they can be sold or let, there's no benefit in choosing a more expensive provider, so make sure you shop around for the best deal. Going directly to a domestic energy assessor rather than getting one through an estate agent is generally cheaper.

 

How the money laundering rules affect you

You may not have given much thought to money laundering and conveyancing – after all, you just want to buy or sell your home! But did you know: * Money laundering is the third biggest industry in the world * £90 billion in cash is laundered in the UK each year * Residential property transactions made up 32% of all suspected money laundering activity in the last 3 years (as reported to the National Crime Agency) * Solicitors can go to prison and incur heavy fines if they don’t report suspicious activity The anti-money laundering rules for law firms are very rigorous. And, as you can see above, the penalties for not following the rules are very severe. So money laundering has a real impact on how we handle your conveyancing transaction. What is money laundering?

Money laundering means putting money from illegal activities into the legitimate economy so its murky origins can’t be detected. Moving funds between different bank accounts, people and even countries helps the criminals to ‘clean’ their funds. Conveyancing firms are a prime target for money launderers.

With hundreds of thousands of pounds changing hands in one transaction, they see it as an easy way to launder a lot of cash in one go. Why ID checks are so strict One of the most important aspects of the anti-money laundering rules is client identification. It’s the first thing we do when you instruct us to act for you; without satisfactory ID, we can’t proceed. When we ask for your ID at the start of the process, we have to check the following: * That you are who you say you are * If you are selling a property, that you are the owner of the property * If you are buying a property, that the funds you are using are from a legitimate source We analyse all clients through an electronic ID verification system. This screens personal details against a wide range of databases and is a quick and thorough method of verification.

We also check that the bank account details we have for you, match your address. If you are selling a property, we check the Land Registry for details of who is registered as the owner. If you are buying, we ask for 6 months of bank statements and will query if the source of funds for the deposit isn’t clear. When someone else has given you your deposit funds (e.g. a parent or other family member) this does mean asking for more information. We understand that this might seem intrusive, but we have to track where the money came from originally. In addition to these initial checks, we also have to monitor transactions as they progress and report any suspicious activity. How money laundering rules affect conveyancers Solicitors who don’t follow the rules are at risk of very heavy penalties. In January 2019 solicitor Ross McKay was sentenced to 7 years in prison for money laundering activities. He had not made the required checks in more than 80 property transactions for clients who were subsequently jailed for money laundering and fraud. In 2017 international law firm Clyde & Co. was fined £50,000 and three of its partners were fined £10,000 each for breaching money laundering rules.
They had allowed a client account to be used as a banking facility when there was no actual legal transaction in place. So you’ll understand why we’re so scrupulous about those checks! Yes, the rules can be cumbersome and can mean your property transaction doesn’t move as quickly as you may want it to in the early stages. But without this system of checks, you could be inadvertently helping a criminal to prosper.

Right to Buy - Meaning and Eligibility

Have you ever thought about purchasing your council/housing association property? Perhaps as a way to climb the property ladder or secure your home for your future and that of your family? If eligible, the scheme would allow you to purchase the property at below market value. The discount can be more that £100,000 in some cases. Many people appear to have profited from the scheme; especially as none of the discount will need to be repaid if you sell after 5 years and house prices continue to rise.

The RTB scheme is currently available for properties in England, but we don’t know for how long. The RTB scheme ended in Scotland on 1 August 2016 and in Wales on 26 January 2019.

What does it all mean?

The Right to Buy (“RTB”) scheme is an arrangement to allow eligible Local Authority Tenants and some Non-Charitable Housing Association Tenants the right to purchase the property they live in. It is a right as set out in the Housing Act 1980. The type of property is often houses and flats (the scheme allows for freehold and leasehold properties).

You can buy your home if:-

• It is your only property;
• You rent the whole of the property (i.e. not just a room within it);
• You are an “eligible tenant” (see “RTB Eligibility” below); and
• You have an eligible tenant for at least 3 years.

The RTB scheme offers a discount to eligible individuals. The maximum discount for inside London is £108,000 and the maximum discount for the rest of England is £80,900. There is a calculator on the gov.uk website to help you work out your discount. The discount is dependant on how long you have been an eligible tenant, in the property. We encourage you to speak with your Landlord or one of the Government Advisors (see “RTB Eligibility” below) who should be able to give you specific information.

RTB Eligibility

The RTB scheme is predominantly for Local Authority Tenants rather than Non-Charitable Housing Association Tenants, although the scheme does offer a “preserved right” for previous Council Tenants who are now Housing Association Tenants.

There is a very useful quiz  on the gov.uk website which will help you to assess your eligibility. Alternatively if you would prefer to speak to someone, the Government have set up an advisory service. The agent should be able to run through the eligibility quiz with you and answer the questions you may have. The agent should also be able to help you with the application process.

Please note, you will not be eligible for the RTB scheme if you have been ordered to leave your home by way of a court order. In addition you cannot buy your home if you are an undischarged bankrupt, have a bankruptcy petition pending against you, or have made an arrangement with creditors (people you owe money to) and you still owe them money.

Finally, it is worth mentioning that, you can jointly apply for the RTB scheme with members of your family (as long as they have lived with you for the last 12 months) or someone that you are already a joint tenant with.

RTB Process

The first step is to have a chat with your Landlord or one of the Government Advisors, to establish your eligibility. If eligible there is an initial claim form for you to complete. This is known as the RTB1 Form. The Government Advisory Service will be able to help you with this form. You will also need to find a Solicitor to help you with the legal side of the process – this is where we can help you – and a Mortgage Advisor to help you with your mortgage (if applicable). We can recommend Mortgage Advisors for you.

How does Right to Acquire compare?

The Right to Acquire (“RTA”) scheme is an arrangement to allow tenants not eligible for the RTB scheme the right to purchase their homes, in accordance with the Housing and Planning Act 2016.

The RTA scheme should cover the majority of other Non-Charitable Housing Association Tenants. We encourage you to speak with your Landlord to assess you eligibility and options.

The process of the RTA scheme is not too different from the RTB scheme. It just covers a different pool of eligible people and the discount is different. There is a very useful link of the GOV.UK website should you wish to know more about this particular scheme.

Here at Brethertons LLP we are experienced in the RTB and RTA processes and we would be more than happy to help you. Please do get in touch with your enquiry. We can discuss any questions you may have and provide our quotation for you.

What is conveyancing

You are thinking of buying your first house

What is a conveyancer and what is their role in the moving process

To be able to move house, everyone needs a conveyancer, they are necessary in every house purchase. You will find a conveyancer in some solicitor firms; they will usually list on the front of their premises or on their website a list of services they offer, or you will be able to approach a conveyancing firm that specialises only in conveyancing.

First thing you need to check with them if you are buying a house with a mortgage if they can work with the lender that you are using , the technical term for this is ask them if they are on the panel for Your lender .If they are then ask them for a full quotation, this should include the cost of actually doing the work, this is usually called the Administration charge, and then you have the disbursements this will include things like, Bankruptcy searches , money transfer fees , Electronic Id checks etc one of the main and biggest disbursement cost is local authority searches we will be adding a  another blog one how these work and what effect they can have on your house purchase .

As conveyancing is one of the main parts to the house purchase process then if the quote is agreeable and you haven’t been specifically recommended to the conveyancer, it is advisable to do some background research on them, a good place to start is resources like trustpilot .

Now then you have the quote, you’ve checked the service and you are happy to proceed with the chosen conveyancer, then it’s time to get them working for you, the technical term for this is to instruct them.

Once instructed the conveyancer will issue you with a pack, this is referred to by many as a welcome pack, it will ask questions about you the purchaser and include things like a purchase questioner, this will go into things like what you have agreed with the seller will be included in the sale , Furnishings and fixture and fittings etc , that will form part of the contract .

It will also ask for details of the selling agent and if known the sellers solicitors details, if the conveyancer is local you will need to go to see them with your ID and proof off address , if they are not a local conveyancer you will be able to send them copies of these items but they will need to be certified by a professional person ( we will add a  blog on this and some of the other stuff mentioned previous as a guide) so that you will know exactly what to do in each circumstance .

So you’ve returned the filled in and signed in pack to them with ID and your proof off address, now they will be ready to start their work.

 There are various aims the conveyancer needs to satisfy; the main one is making sure that the property you are buying has no issues that will cause you problems after the completion of the purchase. The next is to communicate with the seller’s conveyancer and move towards completion of the transaction. Usually the first thing that will be done is order the local searches from the relevant local authority or search agent. Searches we will cover in more detail in another blog, but in short they will identify any issues with the land the property stands on and the surrounding area , also anything that has been specifically registered against the property .

When the searches are back anything that might look like and issue your conveyancer will raise enquiries with the seller’s solicitor and will expect satisfactory answers to the questions before proceeding any further, this can be planning permission registered against the property, or no planning permission showing but the property has had a recent extension. A major road is planned near the property, flooding risk etc the list goes on.

Then we get to all the enquiries being satisfied that will make the property a good investment for you and also satisfy and issue that would affect the lenders security we will go into this one another Blog.  If all the enquiries are agreeable the conveyancer will then move towards drawing up contract papers and getting documents prepared for the re registration of the property at land registry in your name and the part you need to sign will be posted or emailed to you .

The conveyancer will then ask you for a suitable date to complete so you can move into the new property. They will also communicate with the seller’s conveyancer to agree a mutually suitable time for completion. Once this is agreed they can move towards exchange of contracts. But another factor if a mortgage is involved is they will need to satisfy all the conditions the lender has put on the special conditions part of the offer to lend.

Once enquiries, special conditions on offer from the lender and all due diligence has been carried out then the next stage is to get the deposit from you. The deposit will be sent to them via electronic banking, but before they will accept the deposit the source of the deposit under UK money laundering laws will need to be thoroughly checked and satisfy the current law. This usually involves evidence of the money in a UK bank account and a good explanation of how it was put there.

So the deposit is in, the contract and land registration forms are all in and signed by you and the seller. The solicitor will then negotiate a date to exchange contracts with completion to follow shortly after.

How will coronavirus affect property prices?

The UK property market has ground to a halt amid the coronavirus outbreak, but to what degree will house prices be affected by the slowdown?

Read more: https://www.which.co.uk/news/2020/04/how-will-the-coronavirus-affect-house-prices/ - Which?

The UK property market has ground to a halt amid the coronavirus outbreak, but to what degree will house prices be affected by the slowdown? Read more: https://www.which.co.uk/news/2020/04/how-will-the-coronavirus-affect-house-prices. The property market in 2020 Optimism briefly returned to the property market following December’s general election, with the number of sales rising by more than 12% in January as buyers and sellers awoke from a Brexit-induced slumber. But now the market is experiencing a significant slowdown, with estate agents having closed their doors and UK residents told to stay at home and put any moves on hold. Zoopla says this could result in house sales plunging by as much as 60% in the second quarter of the year, when compared with the same period in 2019. The property portal says buyer demand dropped significantly before the lockdown, with a ‘rapidly growing’ proportion of sales falling through. The estate agency Knight Frank echoes these sentiments. It predicts the number of UK house sales will plummet from the 1.175 million recorded last year to just 734,000 this year.

What’s happened to house prices?
The most reliable barometer of house prices is the Land Registry’s UK House Price Index. The most recent data only goes up to February, when overall house prices fell by 0.6% month-on-month, but grew by 1.1% year-on-year to reach £230,232. This timeframe isn’t particularly useful in helping us understand the impact of coronavirus, as it covers transactions that would have been agreed before the government introduced its stay-at-home measures. Earlier this week, the property portal Rightmove released its monthly index of asking prices without a headline figure, as it said there were ‘not enough properties coming to market to provide meaningful new asking prices’.

Price rises before the lockdown Nationwide and Halifax released their house price indices for March earlier this month.
Nationwide found that house prices increased by £3,000, but stressed that the figures didn’t cover the lockdown period. Halifax claims prices increased by 3% year-on-year in March, but says fewer transactions will make it ‘more challenging’ to calculate house price changes in the next few months.

Will coronavirus affect house prices?
It’s too early to say exactly what impact the outbreak will have on the property market, but this is likely to mirror the rest of the economy. In the short-term, house price growth will stagnate and price data may be volatile and unreliable, as there will be very few transactions going through. But as we saw with Brexit, the UK property market is very robust, so it’s highly unlikely that prices will crash. Knight Frank forecasts that UK prices will fall by 3% this year, but then bounce back by 5% in 2021, in line with its predictions around the economy as a whole shrinking this year. Rightmove says three things will be required to kick-start the market after lockdown: a continuation of low-cost mortgage lending and government incentives, lenders limiting forced sales and safe and innovative house viewing procedures.