Month: November 2023

The United Kingdom is home to a vast array of historic properties, from medieval castles and manor houses to Georgian townhouses and Victorian industrial buildings. These properties offer a unique glimpse into the country’s rich history and culture, and they play an important role in preserving the UK’s heritage.

In recent years, there has been a growing interest in historic properties, both from buyers and investors. This is due in part to the fact that these properties offer a number of unique advantages, such as:

• Character and charm: Historic properties often have a unique character and charm that cannot be found in new-build properties. This is due to their original features, such as exposed beams, stone fireplaces, and stained-glass windows.
• Investment potential: Historic properties can also be a good investment, as they tend to hold their value well over time. In some cases, they may even appreciate faster than new-build properties.
• Sense of community: Historic properties are often located in well-established communities with a strong sense of history and identity. This can make them a great place to live for people who are looking for a more traditional and community-minded lifestyle.

Of course, there are also some challenges associated with owning a historic property. These properties can be more expensive to maintain and repair than new-build properties, and they may also have some restrictions on how they can be altered or extended. However, for many people, the benefits of owning a historic property outweigh the challenges.

Exploring historic properties in the UK

If you are interested in exploring historic properties in the UK, there are a number of ways to do so. You can visit historic houses and gardens that are open to the public, such as National Trust properties and English Heritage sites. You can also attend open house events, which are held regularly throughout the year.

If you are considering buying a historic property, it is important to do your research and find a property that is in good condition, and that is suitable for your needs. It is also important to work with a qualified surveyor and solicitor who has experience in dealing with historic properties.

Preserving heritage in the UK real estate market

Historic properties play an important role in preserving the UK’s heritage. They are a tangible link to the country’s past, and they provide us with a unique insight into the lives and culture of our ancestors.

There are a number of things that can be done to preserve historic properties in the UK real estate market. These include:

• Providing financial incentives to owners of historic properties. This could include grants for repairs and maintenance or tax breaks for owners who open their properties to the public.
• Encouraging developers to incorporate historic features into new-build properties. This could help to preserve the character of historic areas and raise awareness of the importance of historic properties.
• Educating the public about the importance of historic properties. This could be done through school programs, public awareness campaigns, and events that celebrate the UK’s heritage.

Pilkington Estates is committed to preserving heritage in the UK real estate market. We work with a number of owners of historic properties to help them sell their properties to buyers who appreciate their unique character and charm. We also provide advice and guidance to buyers who are interested in purchasing a historic property.

If you are interested in learning more about historic properties in the UK, please visit our website or contact us today. We would be happy to help you explore these unique and fascinating properties.

When it comes to owning a home, there are various paths to consider. At Pilkington Estates, a real estate firm based in Plymouth, we believe in empowering our clients to make well-informed decisions. In this article, we will explore the distinctions between shared ownership and traditional homeownership, assisting you in navigating the options and finding the best fit for your needs. Prepare yourself to delve into the world of homeownership with Pilkington Estates as your trusted guide.

• Shared Ownership: A Step towards Owning Property

Shared ownership provides an alternative approach to homeownership, especially for individuals who may need help to afford a property outright. With shared ownership, you purchase a percentage share of a property (typically ranging from 25% to 75%) and pay rent on the remaining portion. This lower initial investment can make it easier for first-time buyers or those with limited savings to step onto the property ladder.

• Traditional Homeownership: Complete Ownership and Control

Traditional homeownership grants you full ownership and control of your property. You have the freedom to make modifications, personalise your space and build equity over time.
When you opt for a traditional mortgage, you borrow the complete purchase price of the property and then gradually repay it through monthly instalments until the loan is completely paid off. This choice provides stability in the long run and allows you to achieve full ownership of your home.

• Financial Considerations:

Shared ownership can have financial benefits since the initial deposit and mortgage payments are generally lower compared to those associated with traditional homeownership. This makes homeownership more accessible, especially for individuals with lower incomes or limited savings. However, it’s important to take into account that with shared ownership, there will still be ongoing costs, such as rent on the portion you don’t own, service charges and potential limitations on selling your share.

• Flexibility and Future Prospects:

Traditional homeownership offers greater flexibility as it grants you the freedom to sell or rent out your property according to your preferences. This flexibility enables you to adapt to changing circumstances or even seize investment opportunities. On the other hand, shared ownership may come with certain restrictions, like limitations on subletting or selling your share, which impact your plans. It’s crucial to consider your long-term goals and evaluate which option aligns best with your aspirations.

• Making the Right Choice with Pilkington Estates

When it comes to choosing between shared ownership and traditional homeownership, Pilkington Estates knows how important this decision is. Our team of experts is here to assist you every step of the way, offering personalised guidance and assistance. We’ll help you evaluate your financial circumstances, explore the properties that are currently available and ultimately make a well-informed choice that aligns with your goals and desires.

Conclusion:

Choosing between shared ownership and traditional homeownership is a personal decision that depends on your financial circumstances, long-term goals, and lifestyle preferences. Pilkington Estates is committed to assisting you throughout the process, ensuring you have the information and guidance needed to make the right choice. Whether you opt for shared ownership, take that crucial first step on the property ladder, or pursue traditional homeownership, gaining complete ownership and control, Pilkington Estates will be there every step of the way, helping you turn your homeownership dreams into reality.

Shared ownership stands as a government-supported initiative that simplifies the process of purchasing an abode. This system entails buying a portion, usually ranging from 25% to 75%, of a property while simultaneously paying rent for the remaining share to a housing association.

Shared ownership offers benefits encompassing;

• Affordability: When compared to property purchases, shared ownership provides a financially feasible pathway towards homeownership. One only needs to secure a deposit for their share of the property, resulting in mortgage payments than if they were buying the entire property.
• Flexibility: Shared ownership allows for adaptability, allowing individuals to purchase much or as little of the property as their budget permits. Furthermore, one can gradually increase their stake in the property through staircasing. Even opt to buy it eventually.
• Security: Shared ownership guarantees stability when acquiring a home. The responsibility for maintaining and repairing the property lies with the housing association, ensuring that individuals possess the same rights and privileges as any homeowner.

Is shared ownership, for me?

Shared ownership is a choice for individuals who are facing challenges in affording a home without assistance. It also serves as an option for those who are still determining the duration they intend to stay in their residence, as it allows flexibility to increase or decrease your share based on changing needs.

How can I purchase a shared ownership property?

To acquire a shared ownership property, you should;

• Enroll with a housing association.
• Explore shared ownership properties that capture your interest.
• Present an offer for the desired property.
• Secure a mortgage specifically tailored to your share of the property
• Provide a deposit payment.
• Finalise the purchase and successfully transition into your home.

Pilkington Estates: Your trusted partner in shared ownership

At Pilkington Estates, we are proud to offer a selection of shared ownership properties within Plymouth and its surrounding areas. We are fully committed to assisting you in finding the property that suits both your needs and budget while providing unwavering support and guidance throughout the buying process.

If purchasing a shared ownership property sparks your interest, please do not hesitate to reach out to Pilkington Estates today. We are eager to discuss your requirements and help transform your dream of homeownership into reality.

Here are a few advantages of shared ownership;

You might be eligible for a government grant that can assist you in purchasing a shared ownership property.
As you gradually pay off your mortgage and increase your share, you will be building equity in your home.
You will have the rights and responsibilities of any homeowner, including the ability to vote in local elections and the freedom to sell your property.

If you’re seeking a flexible way to buy a home, shared ownership is a choice. Get in touch with Pilkington Estates today for information about our shared ownership properties and how we can help you fulfil your homeownership dreams.

The UK property market has a history of resilience and growth, making it a sought-after investment destination for international investors. The buy-to-let market, in particular, has witnessed growth due to the demand for rental properties outpacing supply.

There are reasons why investing in buy-to-let properties can be an appealing opportunity within the UK market.

• Strong rental yields: Currently, the average gross rental yield in the UK stands at 5.5%, indicating that investors can anticipate a return on their investment. This becomes particularly enticing when compared to investment avenues like bonds or savings accounts.
• Continued capital growth prospects: Over the decades, property prices in the UK have consistently risen, and this upward trend is projected to persist over the long term. Consequently, investors have opportunities to benefit from both income and appreciation of their property value over time.
• Robust demand for properties: The scarcity of rental properties across the country has led to an increase in rental prices while simultaneously making it easier for landlords to find tenants. Urban areas, where the population is growing and there is a demand for housing, are particularly affected by this phenomenon.

Naturally, every investment carries some risks, and buy-to-let investments are no exception. Here are a few potential risks to consider;

• The possibility of rising interest rates: If this happens, it could make borrowing money more expensive for landlords, which might impact their profits.
• The chance of property prices dropping: Although unlikely in the run, there is a possibility of short-term price decreases during an economic downturn.
• The risk of tenants defaulting on rent payments: While relatively uncommon, if tenants fail to pay their rent, it can be costly for landlords.

Despite these risks, investing in buy-to-let properties can present an opportunity for investors who conduct research and select the right properties.

Here are some recent statistics regarding the UK buy-to-let market:

• The average monthly rent for a property in the UK stands at £1,087.
• The average gross rental yield is 5.5%.
• Over the five years, UK properties have experienced a capital gain of 27%.
• There currently need to be more than 4 million rental properties in the UK.

Tips for investing in properties that you plan to rent out:

• Research to select the property type and location.
• Obtain a mortgage specifically designed for buy-to-let purposes from a reputable lender.
• Be prepared for the various costs associated with being a landlord, including maintenance, insurance and taxes.
• Seek assistance from a reliable letting agent who can help you find tenants and efficiently manage your property.
• Remember that building a successful portfolio takes time and requires patience.

Conclusion

Investing in buy-to-let properties presents an opportunity for investors who are willing to put in the effort to conduct thorough research and make informed choices. The UK property market has demonstrated resilience and consistent growth over time, with rental demand projected to exceed supply in the years.