base property specialsits are at 3 garden walk, London EC2A 3EQ  call them on 02070331901, open from 10 monday to friday till 630pm and 10 am till 3pm saturdays

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

vendors
purchasers
investments
conveyancing
hips
landlords
tenants
management
relocation
online referencing
tds
mortgages
insurance
maintainance
interiors
register
my profile
logout






Base Property Search
base property specialists - base property search

Blog

April 22, 2010

Cycle to work- 10 reasons to get on your bike!

Filed under: health & fitness,life & business — Kristjan Byfield @ 12:55 pm

Every new year comes with new resolutions, whether it’s cutting down on drinking, quit smoking or wanting to exercise more and get fit. Or maybe even all of those three things together!

I see a common scenario year after year, and that is: people set themselves far too many goals, and all too often completely unrealistic ones: “This year I’m going to start a new career, I’ll quit smoking, I’ll sign up to a gym and I’ll train at least 3 times a week, I’ll run a marathon by july and will lose three stone!”

I’ve heard all sorts, trust me, and every time I’ll tell people the same thing: “Just keep things simple!”

It’s all well and good being motivated, wanting to fulfill a lifelong dream, trying to change for the better. But the secret is to choose only ONE thing and to try and pursue that for the rest of the year. And I’m a big fan of one particular gadget, that all of us are able to use and that has far more benefits that one/you may think: the BICYCLE!!

Many of us already commute to work on their bikes, if not every day then maybe a couple of times a week. Still, it seems like a lot of us still think that it’s very risky, that it’s unhealthy due to having to inhale all those exhaust fumes, that it’s inconvenient because we get sweaty!

I will now mention 10 great reasons why cycling to work is a MUST this year, you will not be able to find a good enough excuse to come up with not to do it:

Get to work faster (and have a less stressful journey)
Here’s a fact: during rush hour in major cities you’ll be averaging about 7mph in a car….on your bike it’ll be more like 12-15mph. You do the math!

Your brain likes it
Tests have shown that even a 5% improvement in cardio-respiratory fitness leads to an improvement of up to 15% in mental tests! The exercise also helps build new brain cells and ward of illnesses like Alzheimer due to the increased blood flow and oxygen to the brain.

It’s the safest it’s ever been
More people than ever are taking to two wheels and cycling levels in the UK have reached their highest point for 17 years. That means more riders on the roads, which surely means more cyclists getting killed by cars? Well, no. Department of Transport figures show that last year cycling increased by 12 percent (measured in total kilometres cycled), but there was also a fall in cycling deaths, down from 136 to 115 – the second lowest level ever.

Inhale less gases
Everyone seems to think that cyclists suck up more pollution and noxious gases than people in cars, buses and taxis.
Not so, according to a study carried out by Imperial College London. Researchers found that cyclists and pedestrians seem to breathe in fewer fumes because they walk or ride at the edge of the road and, unlike drivers, aren’t directly in the line of exhaust smoke. Cyclists and pedestrians are exposed to just 8000 of the ultrafine particles which can settle
in the lungs and damage cells, compared to the 100000 inhaled by taxi and bus passengers!

Be a great employee
According to a study by the University of Bristol employees who exercised before work or at lunchtime improved their time and workload management, and it boosted their motivation and their ability to deal with stress. The study also reported that workers who exercised felt their interpersonal performance was better, they took fewer breaks and found it easier to finish work on time. Also, a review of 12 studies on the link between exercise and fatigue carried out between 1945 and 2005 found that exercise directly lowers fatigue levels.

Get Fit – the cheap way!
How often have you actually been to your gym for a good 45min workout since you first joined? Most of you only make it there once a week , if that. And considering the average gym membership ranges around £50 a month, that one workout has just cost you £12.50! So here’s an idea: since your gym is most likely to be near your work, why not use it to just go and shower there three times a week? This will mean you’re making a much better use of your membership, since it’ll now be costing you only £4 to use the facilities! Remember what I mentioned earlier? Keep it simple! Regular, everyday cycling is so much more beneficial to your body than one huge 1hr effort that leaves you in so much pain for
the next few days you’ll barely be able to move! And according to research, if you’re cycling on a regular basis, you won’t just have the fitness levels equal to a person 10 years younger, but your body’s metabolic rate – the efficiency with which it burns fat and calories – will be raised not only during the ride but for several hours afterwards. This pretty much means that you’ll still be burning more calories without actually doing anything! Mix up the pace, effort and intensity of your ride, while keeping safety paramount, and you can turn your commute into a really great training session! As riding through urban traffic is inevitably stop-start, use this to your training advantage with high-intensity speed and power intervals. add the extra pace with extra pedalling speed. Use the traffic lights as sprint starts, or use a bike computer to maintain a high cadence (90- 100rpm). I can guarantee you, being out on the road will be so much more fun that just sitting on a stationary bike and in front of a tv screen.

Look Younger
“Increased circulation through exercise delivers oxygen and nutrients to skin cells more effectively, while flushing harmful toxins out. The exercise also creates an ideal environment within the body to optimise collagen production, helping reduce the appearance of wrinkles and speed up the healing process.”

Stay healthy and live longer
Forget apples, riding’s the way to keep the doctor at bay. “Moderate exercise makes immune cells more active, so they’re ready to fight off infection,”people who cycle for 30 minutes, five days a week take about half as many sick days as couch potatoes. A recent study by King’s College London compared over 2,400 identical twins and found those who did the equivalent of just three 45-minute rides a week were nine years ‘biologically younger’ even after discounting other influences, such as body mass index (BMI) and smoking. “Those who exercise regularly are at significantly lower risk of cardiovascular disease, type two diabetes, all types of cancer, high blood pressure and obesity,” says Dr Lynn Cherkas, who conducted the research. “The body becomes much more efficient at defending itself and regenerating new cells.”

Develop a positive addiction
Replace a harmful dependency – such as cigarettes, alcohol or eating too much – with a positive one, says William Glasser, author of Positive Addiction. The result? You’re a happier, healthier person getting the kind of fix that boosts the good things in life!

Get (a legal) high and be happy!
The infamous ‘runner’s high’ has finally been proven beyond doubt by German scientists. Yet despite the name, this high is applicable to all endurance athletes. University of Bonn neurologists visualised endorphins in the brains of 10 volunteers before and after a two-hour cardio session ,comparing the pre- and post-run scans, they found evidence of more opiate binding of the happy hormone in the frontal and limbic regions of the brain – areas known to be involved in emotional processing and dealing with stress. “There’s a direct link between feelings of wellbeing and exercise, and for the first time this study proves the physiological mechanism behind that,” explains study co-ordinator Professor Henning Boecker. You may feel miserable when you saddle up, but by the time you’ll get to your destinations you’re very likely to be in happy spirits! That’s probably why four times more GPs prescribe exercise therapy as their most common treatment for depression compared to three years ago. Just three 30-minute sessions a week can be enough to give people the lift they need.

And finally – Save the planet
Twenty bicycles can be parked in the same space as one car. It takes around five percent of the materials and energy used to make a car to build a bike, and a bike produces zero pollution.

So saddle up and give it a go!

New Guest Blogger- Barbara Brunner- Health & Fitness Expert

Filed under: blogger bios,health & fitness — Kristjan Byfield @ 12:46 pm

Barbara runs a private practice in London and specialises in sports injuries, rehabilitation, postural re-education, endurance training and nutrition. She has studied at the American School of Sports Medicine and London
School of Sports Massage. She is also a BTA certified triathlon coach. She has been a keen triathlete for the past 6years competing in Olympic and Middle Distance races and has a strong background in many other sports ranging
from gymnastics to skiing.

For more information visit her new website at www.brunnertraining.com

April 15, 2010

Election property proposals

Filed under: finance & mortgages,life & business,property,property management London,taxes — Kristjan Byfield @ 4:46 pm

With the upcoming elections buzzing in our ears it is only sensible that we look at the housing policies and what the parties are proposing. At around 70% the UK has one of the highest owner-occupied rates in Europe so the intended actions apply heavily to all. All the parties have made various proposals and for most people it is essential that you found out all of these to see what affects you. Below are my thoughts on just some of the proposals:

Stamp Duty- Both Labour and Conservatives are proposing at least a temporary stop of the minimal (1%) Stamp Duty tax to first time buyers on a property up to £250,000. As discussed in a previous article I don’t think a 1% break will make any dramatic change to the problems first time buyers face and think this will be a waste of government money. The government would be much better off negotiating special mortgages for first time buyers with either lower deposits or fixed lower interest rates for the initial period (approx 5 years).

Abolish HIPs- Conservatives have stood by this for a long time now. I think this is a mistake. In a still fragile economy to endanger hundreds of jobs in a recently formed sector is reckless. What I like about HIPs is it ensures the Vendor (seller) is serious and motivated to sell. What should be done is a review held between lenders, surveyors and solicitors to ascertain what needs to be in a HIP to create a genuinely fast and efficient sales process and what protocols need to be established to ensure this information is accurate and reliable. The draconian, highly unreliable and drawn-out sales process that we have in this country costs millions a year in lost sales.

Energy Improvement Packages- The Liberal Democrats are proposing a ÂŁ10,000 grant for homes to become more energy efficient which is to be paid from the savings in bills. However, unless this means bills reduced to zero (which I highly doubt) I cannot see how these figures will stack up. Factoring in bills of ÂŁ1500 per year, if your bills decrease by 20% that is a saving of ÂŁ300 per year which would therefore take over 30 years to pay off the grant without factoring in any interest. Why not simply reward occupied properties that reduce their energy consumption over the year?

As you have probably gathered I am not a fan of any of the parties’ plans. My biggest criticism of all the parties is their failure to consult with the public and the industry’s governing bodies to see what people actually think of current/proposed policy and what is actually wanted/needed. More worrying, when they do consult, they ignore what they are told. One plea I make to whichever party makes it in to power next month- listen to the people, they will tell you exactly what is needed.

April 14, 2010

Interest you can claim against your property income

Filed under: finance & mortgages,life & business,property,taxes — Kristjan Byfield @ 10:37 am

The basic rule is that you can claim the interest charged on the mortgage that you took out to purchase the property. Care must be taken to distinguish any part of the monthly payment that relates to repayment of the capital; repayment of capital is not an allowable expense and cannot be used to reduce your taxable rental profit.

However, you may be able to claim interest on other loans under certain circumstances.

Tax law states that you may be able to claim interest as a tax allowable expense on loans up to the value of the rented property at the time that the property is first rented.

For instance;

You buy property A in 2006 and you live in it. The property costs ÂŁ200,000 and you take out a mortgage of ÂŁ 160,000.

In 2010 you decide to buy another property, B, to live in, and you rent out property A. At the time that you rent out property A its market value is ÂŁ300,000.

Instead of taking out the full mortgage on the new purchase on the security of property B, you increase your loan as far as you can on property A and take out the balance of your required loan on the security of property B.

You can then claim the additional interest payable on the new loan on Property A as an allowable expense deducted from the income from property A and reduce your tax.

If you would like to discuss this further and join us at GC Accountants please contact our Tax Partner Harry Charalambou on 020-8886-3672 or email him at HC@gcaccountants.com.

Disclaimer

By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken by GC Accountants or Base Property Specialists Limited for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.

New guest blogger: GC Accountants – Harry Charalambou

Filed under: blogger bios,taxes — Kristjan Byfield @ 10:31 am

GC Accountants are a firm of Chartered Certified Accountants and Registered Auditors established in 1983. The firm employs twenty staff, most of whom are either qualified Chartered Accountants or Chartered Certified Accountants.

The services that the firm offers range from statutory audit and financial accounts to corporate and personal taxation.

One of the areas in which the firm specialises is property accounts and taxation. The client base of the property taxation department is comprised of clients in the UK, both British and Non-Doms,  and UK ex-pats and Non-UK tax residents living in Europe, Australia, New Zealand, the Middle East and the United States.

We appreciate that many people who invest in property are not aware of their responsibilities in respect of HMRC (the Inland Revenue) or how to minimise their tax liabilities and, indeed, sometimes find the administrative side of the investment quite daunting.

Our firm has a particularly strong bias in providing a personal service to its clients and tailoring its services and approach to each client individually so that we take over the strain of dealing with government agencies and at the same time take advantage of tax legislation and tax exemptions to reduce your tax payments to a minimum.

Other specialist areas of the firm include Capital Gains tax, Inheritance tax and HMRC (Inland Revenue) investigations.

April 9, 2010

Developing your home as a property investment startegy

Filed under: interior design,life & business,property,property management London — Kristjan Byfield @ 4:13 pm

I was asked at the start of the week about whether or not it is viable to redevelop the property you live in and keep doing this as an investment strategy. Of course you can, many do it, but there are certain realities you have to face up to and factors you must consider before tackling this approach.

Here are some pointers I can offer:

Buy right- whilst you are going to live in the property for a while do NOT let your heart rule your head. To ensure you maximise your returns your decision to buy a property must be based on the property that offers the best returns and not the one you would like to live in the most- if all goes well you won’t be there very long!

Don’t cut corners- if you are planning to do as much of the work needed yourself as possible make sure you do a good job. Bad workmanship can wipe off almost any value added by your ‘improvements’.

Quality craftsmanship- Some jobs just have to be done by professionals (windows, gas, electrics) but some jobs just should be. These include plastering, carpets and carpentry. Know your limits and know when it is best to invest in a professional job.

Schedule- set yourself a REASONABLE time scale and stick to it! Don’t expect to turn a house round in a month working around a full-time job. It won’t happen and you will just end up exhausted, demoralised and you probably won’t do a good job. Work to a reasonable timescale and maybe even factor in little breaks/celebrations at certain points in the project to help motivate yourself.

Enjoy- I recommend that, before moving on and starting all over again, allow yourself and those living with you to enjoy the space for a while. This can be anything from 1-6 months but rest up…..you’re about to start all over again!

Sell- A good agent is worth their weight in gold- shop around and make sure you are happy with your choice. An agent is also vital as it frees you up to find that next home/investment. I am a firm believer in competition so I also recommend instructing at LEAST 2 agents or an agent this will instruct other agents to help market the property.

If you are thinking about investing in either the property you live in or another property you own do give us a call. We have already completed numerous projects for clients from re-decorating a couple of rooms to completely gutting, re-fitting, decorating and even furnishing them. You can view some case studies on the interiors page of our website. We pride ourselves on being highly competitive in price and the fact that, to date, we have always completed the projects BOTH on  time AND on budget. Check out our website or give us a call for a chat on 020 7033 1901.

April 8, 2010

Terrible new HMO legislation- Landlords beware!

Filed under: life & business,property,property management London — Kristjan Byfield @ 5:41 pm

The current labour government managed to rush in one last piece of property legislation before being dissolved for the election.

An addition to the current HMO (Houses under Multiple Occupancy) legislation, the new laws (only applicable in England) are far more reaching and could potentially be hugely damaging to the private rental sector nationwide.

From now on any property where 3-6 unrelated people (2+ ‘households’) live as their main residence will now be classed as a C4 property and the Landlord will have to submit a planning application to obtain this classification. Also, having obtained C4 status, should a Landlord then rent to 1-2 people this will not be classed as an HMO, the property will lose its C4 status (revert to C3) and C4 will have to be re-applied for in the future as and when 3-6 tenants are placed there again.

Unlike the mandatory licensing laws there are no property criteria- this will apply to ALL properties where 3-6 live as their main residence. It will not matter whether or not they are all on a Tenancy Agreement only that they reside there. Also, should a Landlord let to 2 people who then have a 3rd person join them (unknown to the Landlord) this will still constitute an HMO and fall under the new legislation.

As before, the new laws will be enforced by individual councils under their own set of terms however having called both Hackney and Tower Hamlets today there was a distinct lack of clarity or understanding from either body.

With most planning offices already struggling with their work load (hence the recent change to relax planning laws to ease the burden on planning departments) it seems astonishing that they will now be burdened with a huge new (and unnecessary) workload.

I can see no benefit to anyone for this new law and recommend that all Landlords write immediately to their MP (although that may now be pointless until the election has completed). There is also an online petition started by the RLA (Resident Landlords Association) which you can sign up to at: http://petitions.number10.gov.uk/noplanningchange/

If you have any more questions about HMO’s or property legislation visit our website at www.baseps.co.uk email us at info@baseps.co.uk or give us a call on 02070331901.

April 7, 2010

How to find the best mortgage deal possible!

Filed under: finance & mortgages,property,property management London,taxes — Kristjan Byfield @ 5:56 pm

In the current mortgage market you’d be forgiven for thinking that you could go to a price comparison site, answer a few straightforward questions and pretty much pick out the best mortgage for you without too much difficulty. Now I’m not saying this can’t happen, I just think to be able to do this in the UK at this point in time is highly unlikely.

Coming from a background of developing mortgage comparison systems you would think I would be fully behind the technology as the way to go, and having spent many years working on these systems I truly am. The caveat is however, let the clicker beware. Yes, I would encourage anyone to spend time on the web, get to drips with the terminology and gather a knowledge of products. There is also some great software that will filter out products you’re not eligible for that’s very helpful.

The difficulty arises when as a punter you have to ask yourself “Am I getting the best deal here?” The reason why this is such an important question is unlike car insurance for example which typically costs a few hundred quid a year, mortgages tend to bite into a very large slice of the monthly budget and a mistake can be catastrophic.

Along with being most people’s biggest expense also comes a whole different level of complexity than car insurance, you have many types of mortgages to understand; fixed, variable, capped, cashback, tracker, etc. There are various fees to pay, you have to decide whether you want interest only, repayment, part and part? Do you really understand early redemption penalties and things like portability?

That’s just the start of it, again comparing this to car insurance, which let’s face it, if you have a valid credit card is yours, mortgage lenders are pretty careful about who they let loose on the six or seven figure loans.

In future articles I’ll give some examples of how to get the most out of online software and how a mortgage advisor can help you in so many ways by understanding how to get over, under and around problems and how to keep what comes out of your account every month to a minimum. Until then consider something Abraham Lincoln once said about courtrooms that I think applies equally to the world of mortgage advice; “A man who represents himself has a fool for a client”.

Estate Agent Mortgages provides comparison tools with a database of every UK mortgage, we combine this with very experienced advisors. For further information please visit www.estateagentmortgages.co.uk/base or email: enquiry@estateagentmortgages.co.uk

New Guest Blogger: David Whitehouse- finance guru

Filed under: blogger bios,finance & mortgages,life & business,property,taxes — Kristjan Byfield @ 5:53 pm

From April 2010 onwards David will be contributing a monthly article based on his knowledge and experience of the financial sector. Here is some info about David and his background:

My name is David Whitehouse and I have been working in the Financial Services Industry since 1994. I started off working for The Prudential and from there progressed into mortgage advice in 1997. In 2002 I set up my own company ‘David Whitehouse Associates Ltd’ working predominantly in the Central London area dealing with high net-worth clients.

In September 2009 a chance meeting with my business partner Chris Thirkill led to us launching a new company- Estate Agent Mortgages Ltd.

Estate Agent Mortgages Ltd is a company specialising in innovative mortgage sourcing software which can be integrated into Estate Agents’ existing websites. The idea is that as customers look at property on the Estate Agent’s site you can then search for suitable mortgage products which are updated four times a day. If advice is needed you can click ‘enquire’ which then feeds you through to David Whitehouse Associates Ltd (a FSA regulated independent mortgage broker company) to deal with the enquiry in more detail.

Over the coming months I will be supply blogs with news about new and innovative products in the mortgages arena, advice on how to find the best deals and general help and information gathered after more than 15 years in the industry. If you have any remortgage or refinancing requirements why not try the system out at www.estateagentmortgages.co.uk/base/ and see if we can save you money!

April 1, 2010

Don’t dismiss a quick offer!

Filed under: property,property management London — Kristjan Byfield @ 6:22 pm

When first marketing a property it is very easy to get over excited about what you will achieve for it (sales and rentals) and how things are going to proceed. However, picking the right offer can offer be far more tricky then you think. Here are a few situations to consider….

The quick offer- an offer right at the start of marketing (or if the agent is really good- before) can be difficult to go for. The initial reaction is ‘well if it is that easy maybe I could get more’ or ‘these people were easy to find there will be plenty more’. Careful- just assess the offer on what you were hoping to achieve, if it ticks most/all of the boxes just go for it. Just consider yourself lucky it got started so easily and hope it continues that way.

The bidding war- if you have 2+ parties involved you may have the ‘fortunate’ position of a bidding war. This can be great as you can drive the price up making you that valuable extra return but be cautious. Consider all the aspects of the interested parties. I have had many vendors in the past opt for lower offers as they were in a better buying position (property already sold/cash strong buyer). An offer is far more than just the price!

Personality- this is far more relevant to Landlords than Vendors as you will be starting a (hopefully) long term relationship. Could you get on with them? Do you think they will care for your property? Will they pay their rent on time? Again, sometimes going for a ‘lower’ offer but from ‘better’ Tenants may be your best route forward.

However, whatever approach you take be decisive and be fair. Don’t make a decision until you are comfortable too and once you have made it, stick to it. Always try to put yourself in the other party’s shoes- how would you feel?

020 7033 1901
 
Just in case you were wondering, our services are as follows:

home | sales | vendors | purchasers | investments | conveyancing | HIPs | lettings | landlords | tenants | management | relocation | online referencing | TDS
NAEA/OEA | mortgages | insurance | interiors | maintenance | inventories | worldwide | recruitment | register | feedback | contact | FAQs | blog | links

areas we cover