Landlord's Services

We are always striving to make life easier for our managed landlords

Portfolio Reviews

How well is your property portfolio performing? Would you like to chat through your plans for 2019 and beyond?

We can offer you a portfolio review meeting.  Working in conjunction with a financial advisor and wealth management expert, the review will allow you explore how to get the best out of your property investment and maximise returns.

Whether you have one, two or more properties, if you would like the opportunity to chat through your investment with local experts, do get in touch. Email info@belvoirandover.com or call us on 01264 366611

Virtual Viewing Service

We are thrilled to announce our Virtual Viewing Service - perfect for busy people or those living outside the area.

As long as you have some form of video calling facility (WhatsApp, FaceTime, Messenger video calling etc), the Belvoir team can show prospective buyers or tenants around properties  by using our Ipad to conduct a virtual tour.

As soon as a suitable new property comes on the market, we can arrange a virtual viewing and this will then help people decide whether it is worth booking a ‘real’ viewing. The virtual viewing can be totally interactive and we can answer questions and show any particular features in more detail.

Just give us a call on 01264 366611 to book. We look forward to showing you around!

Annual Tax Return

Also, did you know we can provide a tax return that can be emailed directly to your Accountant? There’s no charge for this email service, simply drop us an email and we can organise that for you.

If we don’t currently manage your property, come and talk to us to find out more. It might not be as expensive as you think!

Leasehold vs Freehold explained!

The two most common forms of property ownership in the UK are freehold and leasehold. We get asked about the differences all the time - here's a brief explanation!

Leasehold is a method of owning a property for a fixed period, often around 125 years if the home is new, though leases can be shorter. With leasehold properties, you do not own the land it is built on, the rights of which remain with the freeholder. Possession of the property will usually be subject to the payment of an annual ground rent and possibly monthly maintenance charges. When the lease expires, ownership of the property reverts back to the freeholder. Most of the flats/maisonettes and apartments in Andover are leasehold.

A drawback to leasehold is that as the lease period diminishes, particularly beyond 75-80 years, the property may become harder to sell or obtain a further mortgage on. Leases can be extended but this can be quite costly, so it is worth being aware of this from the start. 

Freehold is the outright ownership of the property and land on which it stands. There is no time limit to the period of ownership.

Freehold is a more attractive option because it means you own both your property and the land on which it stands, without any time limit or maintenance/ground rent charges. Most houses are freehold.

Belvoir Property Clinic - New Buy-to-Let Tax Rules

Greg Greatbatch, Director at Belvoir Andover and Professional Landlord answers today’s property question

If you have a question for our monthly Belvoir Property Clinic, please send to info@belvoirandover.com

Q Can you explain the tax changes that have been introduced for buy-to-let landlords as I am about to file my tax return

A This is a question we have been asked a lot at Belvoir, and it’s not an altogether simple one to answer.

The tax changes only apply to individual landlords who let property in the UK, those who let in a partnership or Trustees of a trust directly holding UK residential property. The new tax rules won’t apply to companies or landlords of furnished holiday lets.

In short, the main change being made under the new tax rules, is that landlords will no longer be able to fully claim tax relief on their mortgage interest payments and related finance costs.

Previously, landlords have been able to deduct a number of allowable expenses along with mortgage and other finance expenses from their rental income and just pay tax on the difference. Now however, tax relief on finance costs will be restricted to the basic rate of Income Tax with the restrictions being phased in gradually from 6 April 2017 until fully in place from 6 April 2020.

You’ll still be able to deduct some of your finance costs when you work out your taxable property profits during the transitional period. These deductions will be gradually withdrawn and replaced with a basic rate relief tax reduction.

Tax year	Percentage of finance costs deductible from rental income	Percentage of basic rate tax reduction
2017/18	75%	25%
2018/19	50%	50%
2019/20	25%	75%
2020/21	0%	100%

I would advise you to take some professional advice regarding how this will affect you based on your particular personal circumstances. There is also more information on the full impact of the changes and case studies published by HMRC which can be accessed on www.gov.uk

Belvoir Property Clinic - Looking for Rented Accommodation

Vicky Bowman, Lettings Manager at Belvoir Andover answers today’s property questions.

If you have a question for our monthly Belvoir Property Clinic, please send to info@belvoirandover.com

Q. My partner and I would like to rent our first home together but we are struggling to save the large deposit we need. Are there any options for paying a smaller deposit?

A. Yes, if you find a property through Belvoir you could qualify for Belvoir’s Nil Deposit Scheme. We know how tough it can be to raise that up-front deposit, so our Nil Deposit scheme offers an alternative option which will allow you to move quickly and easily into your chosen new home.

Rather than paying the usual six week’s rent as a deposit, you can now choose to pay a non-refundable fixed fee of just one week’s rent plus VAT.

At the end of the tenancy, the property will be inspected as usual and any claims for damage are invoiced to you for payment. It really is that simple!

There are some qualifying criteria, so pop into the office or give the Lettings Team a call on 01264 366611 to discuss.

Q. I have been looking for rented accommodation in Andover for some time now but even the smallest one bedroom flats are out of my reach. Have you any suggestions on how I can find something suitable?

A. It is difficult for those on limited budgets to find suitable homes to rent. Some of our smaller properties are let very quickly and you may not even get to see them advertised, so please do get in touch as we may be able to help you if we know what you are looking for.

Have you considered a house share? Belvoir always has a number of house or flat share opportunities and it can be the perfect solution for someone who can’t quite stretch to living on their own. Not only is the rent reduced but so are the bills.

Take a look at our website, www.belvoirandover.com to see what is currently available or drop into our office in Bridge Street so we can take your details and help you find the ideal home.

Looking after our Landlords with Rent Guarantee Scheme

We are delighted to now be able to offer our Rent Guarantee to all our Landlords. Paid monthly, this unique Guarantee offers complete peace of mind should your tenant default on rent payments.

In the event that a tenant defaults, rent will continue to be paid under the Guarantee whilst the property is occupied and you, the Landlord, will not be out of pocket. In addition, Belvoir will handle the legal process with specialist solicitors to ensure that the tenant is removed from the property. There is no claim process involved and you will not be required to attend at court or instruct solicitors, this is all handled as part of the service.

Without our Rent Guarantee, eviction of tenants for non-payment can be a very expensive and time-consuming process. With it taking typically 6-8 months to gain vacant possession, the cost to a Landlord can be astronomical.

Get in touch and sign up now for the Belvoir Rent Guarantee. At only £24 per month (including VAT), we are recommending that all our Landlords take advantage of this comprehensive protection. 

No Deposit? No Problem!

Belvoir is now offering a Nil Deposit Scheme for new tenants

Here at Belvoir, we know that it can be a struggle to raise a large deposit to put down on a rented home, so our new Nil Deposit Scheme offers an alternative option which will allow you to move quickly and easily into your chosen new home. 

Rather than paying the usual six week’s rental as a deposit, you can now choose to pay a non-refundable fixed fee of just one week’s rent plus VAT*

At the end of the tenancy, the property will be inspected in the usual way.

No need to save for months for that large deposit – yet another reason to Be with Belvoir!

How does it work? Pop in and see one of our Lettings team to find out if you qualify for Nil Deposit and to understand the full terms and conditions of the Scheme, or call them on 01264 366611

*Terms and Conditions apply

Introducing Vicky Bowman

We are delighted to announce that Vicky Bowman has joined Belvoir as Lettings Manager. Vicky will head up our very successful lettings team and she brings a wealth of experience to the role; having been a Lettings Manager in Andover for over 14 years.

Vicky said 'I am delighted to join such a busy and well-regarded lettings agent and I am looking forward to meeting and working with the many landlords that rely on Belvoir to manage their properties'

PAULA PRESENTS GOLD MEDAL AFTER BELVOIR’S AWARD WINNING RUN

World champion marathon runner, Paula Radcliffe, MBE has presented local property lettings specialist, Belvoir, with another long running Gold medal of its own – following its record sprint in the industry’s top award scheme.

The nationwide Belvoir franchise, which offers its multi award winning property management service from a local office at Bridge Street in Andover was named ‘Best Franchise Lettings Agency of 2015’ – for the fourth year running – in the UK’s Letting Agency of the Year Awards. It also scooped the same award in 2010, making it a five times winner overall.

Greg Greatbatch, who co owns Belvoir Andover  said: “ I am sure this is an unprecedented run of success in what is widely recognised as the toughest award scheme in our industry.

“My staff and I are thrilled and extremely proud with the achievement – and it is a reflection of the hard work that goes into maintaining the highest of standards of service provided for our local landlord, tenant and buy to let property investor clients.” 

Run in association with the Sunday Times and Times, and sponsored by Zoopla, this year’s awards were staged at the Lancaster London Hotel.

In citing Belvoir as the Gold winner, a distinguished judging panel of leading property experts, said: “Belvoir is perpetually successful in this category, due in part to its continual investment in its audit team, which keeps standards consistently high, but also because of the outstanding support and training given to franchise owners which helps them to grow successful businesses.”

    

Belvoir, which has over 160 offices in its UK network, celebrates its 20^th anniversary this year and Co owner Phil Pinkney, said: “This is a huge tribute to the Belvoir Andover team, who uphold all the exacting standards and brand values of our business and I offer them my warmest congratulations.

“These awards are the longest running in the industry and were set up to recognise and reward best practice in our industry. This year the judging and scrutiny of all entrants was more robust than ever and we are incredibly proud to have been honoured once more for the service we provide.

Phil added: “We know that all local landlords and tenants in our area have a wide range of choices, so we go all out to provide them with a fully rounded property management service designed to exceed their expectations and provide them with the very highest level of customer service and care.

“I would like to thank all of our staff, clients and suppliers for their continued support of our business and for helping us to set a new record by winning this prestigious national honour, yet again.” 

If you are looking for award winning lettings & landlord services in Andover, Ludgershall, Whitchurch, Tidworth or the surrounding areas, please contact us to see what we do differently to all the rest.

Tel. 01264 366611

Email: info@belvoirandover.com

Which is the most expensive road to live in, in Andover ?

Ever wondered which roads in Andover are the most expensive to live in ? Here in Andover there are some very desirable roads to live in, but which are the most expensive ?

The Andover Advertiser decided to do this research and have come up with the following Top 30:

1 Manor Copse £585,638

2 Eversfield Close £524,115
3 Enham Lane £504,671
4 Newbury Street £499,362
5 Tyhurst Place £490,434
6 The Pines £478,818
7 Winchester Gardens £448,492
8 Tyrells Croft £446,816
9 Croye Close £443,048
10 Kemys Gardens £439,587
11 London Street £429,670
12 High Street £424,076
13 High Beech Gardens £417,416
14 Rooksbury Mill Court £396,733
15 The Avenue £391,565
16 Lakeside Close £390,269
17 Sainsbury Close £388,093
18 Wellesley Road £381,719 19 Palmerston Place £369,498
20 Humberstone Road £369,214
21 Croft Gardens £365,083
22 Alexandra Road £361,850
23 Appleton Mews £360,041
24 Bradwell Close £359,382
25 St Swithin Way £358,631
26 Whynot Lane £358,215
27 Croft Avenue £357,262
28 Elbe Way £355,0270
29 Cuxhaven Way £351,902
30 Mead Hedges £348,783


They go on to say "This list may include properties in streets which have not sold in normal free market conditions, such as ‘right to buy’ and compulsory purchase schemes or areas already subject to demolition and regeneration. 

The data includes all transactions completed since January 1995, as recorded by HM Land Registry."

For more information on where to buy or let, come and see us for a coffee or tea at our Bridge Street office.

7 investment traps that could harm your wealth

Avoiding these common pitfalls could be a key to long-term investment success.

1. Too many eggs in one basket

When putting together your investment portfolio it's important to ensure you don't end up with concentrated exposure to a particular type of risk. One obvious area is industry sectors: consider the banking crisis in 2008, and the technology crash in 2000. Any investor whose portfolio was over exposed to these areas would have seen a dramatic fall.

Investors who took a more diversified approach would have seen a far smaller impact on their portfolio. Having a well-diversified portfolio is a key way to reduce risk.

2. Over-diversifying

Just as damaging as putting all your eggs in one basket is over-diversifying a portfolio – sometimes dubbed 'di-worse-ification'. This can happen quite easily when building up an investment portfolio over a number of years. You can end up with dozens of quite similar investments, collectively delivering average returns.

A more effective approach may be to focus on a handful of favorite fund managers investing in different areas of the market. Our Wealth 150 list, which contains our favorite funds in the major sectors, could help you with this choice.

3. Paying too much in charges

Aside from investment performance, a crucial factor affecting your total returns is the charges you pay.

Consider two funds, each delivering a return of 6% a year, but one with an annual charge of 1.5%, and the other with an annual charge of 1%. If you invested £10,000 in each:

• The fund with the lower annual charge would be worth £26,533 after 20 years
• The fund with the 1.5% annual charge would be worth £24,114 – or £2,419 less.

Keeping costs to an absolute minimum could mean thousands of pounds more added to the value of your investments over the long term. We can help you keep costs to a minimum by tailoring our services to your exact needs.

4. Not taking enough risk

Like many investors, you may be understandably nervous about taking risks with your hard earned capital. However, not taking enough risk can be just as damaging as taking too much risk.

One of the main dangers from not taking enough risk is that the spending power of your capital could fail to keep pace with inflation. While money saved in the bank might seem 'safe', in real terms its value is gradually falling every year because of inflation. Inflation of just 3% per year will nearly halve the spending power of capital over 20 years.

We believe taking more risk, in order to try and achieve an inflation-beating return, is therefore vital for any saver or investor taking a long-term view. However it is still important to have an emergency cash fund of say 3 to 6 months salary.

5. Poor administration

If you have investments dotted around between providers and you ever need to make any changes, you will often need to fill out a myriad of forms, which makes it a far more laborious process, and may prevent you from acting.

Good administration is key to managing your investments effectively. A good administration system means you can make changes quickly, conveniently and cost effectively. If it's easy to make changes you are also more likely to act, improving portfolio performance.

Good administration also helps you to gain a good overview of your portfolio. How much do you have in each area? Is it time to take profits? Making these decisions is far easier when you can view all your investments together, at a glance.

Here at Belvoir Andover, we can take the burden of the administration of your property portfolio away. Our accounts package is approved by the Institute of Chartered Accountants and we can readily provide you with annual accounts which can be, if requested, emailed direct to your accountant. We are also more than happy to have a one to one financial review of your portfolio, giving you market trends, rent reviews, yield report (see if you are achieving what you set out to achieve) and much more, contact our team to discuss this 01264 366611

6. Paying too much tax
Quite simply, the less tax you pay on your investments, the higher your returns will be. Fortunately the government offers a number of tax breaks to encourage investment. Two of the most popular are ISAs and pensions.

ISAs - if you hold your funds or shares within an ISA there is no tax to pay on any capital gains, and no further tax to pay on any income. Each tax year you have an ISA allowance, this tax year the allowance is £11,280, and used every year the ISA allowance allows you to build a significant portfolio of tax sheltered assets. What's more on the majority of funds the ISA comes with no extra charge, so many investors receive these benefits free. The icing on the cake is that with ISAs you can withdraw your capital at any time, so they are suitable for investors who want maximum flexibility.

Pensions offer similar tax benefits to ISAs, with a few important extras. Firstly when you add money to a pension you receive income tax relief, at a rate that depends on how much income tax you pay. So, for example, if you are a higher rate tax payer you could receive up to 40% tax relief on any contributions you make. It's also worth remembering that with pensions you can't access your capital until you retire. When you do, up to 25% can be taken as a tax free lump sum, with the remainder used to provide you with a taxable income in retirement.

Please note the value of tax shelters will depend on your own circumstances, and tax rules can change over time. The value of stock market investments can fall in value as well as rise, so you could get back less than you invest.

7. Focusing on the short-term

Legendary investor Warren Buffett famously once said "You can't buy what's popular and do well". There is a lesson here for all investors. Many are tempted to over-expose themselves to the latest 'hot' investment trend. Often these will be companies or sectors that just seem to rise relentlessly, giving the impression that you "can't lose". In the past sectors such as technology stocks have experienced such a rise, followed by a sharp fall in value, affecting the portfolios of thousands of investors.

Before you choose an investment, ask yourself: what is your attitude to risk? Would you be happy to hold it for the long-term? Do you think the shares represent fair value? Are there other overlooked areas which may offer better long term opportunity? Property can typically return you a minimum of a 10% yield and therefore represents a strong and reliable (when compared to alternative investments)

If you are thinking about investing in property we would recommend that you take independent financial advice. We are more than happy to help anyone get on the property investment ladder, please call Phil Pinkney at Belvoir Andover on 01264 366611 or visit our website at www.belvoirandover.com

Avoid Property Trading Tax by Belvoir Andover

 

Avoid Property Trading Tax top

Some people regularly purchase run-down houses, do them up and sell them on. If you do this as part of your building/property development business, the profits made on the sale of the properties may be taxed as trading income (tax rates: 20%, 40% or 50%). If you let the renovated properties, then sell them at a later date, the profits made on those sales will be taxed as capital gains (tax rates: 18% or 28%). The position is less clear cut if you live in each property for a period either during or after the renovations are undertaken. The Taxman is keen to charge any profits made on the renovated property as trading income, because if the profits are categorised as a capital gain, that gain may well be exempt from tax on the basis that the property was your main residence. For the Taxman to prove the money made from the property is trading income he must show the owner's motive for purchasing and renovating the property was to make a profit, and not simply to make the property more comfortable for the owner to reside in. This is difficult to prove. If the owner is a builder by trade the Taxman may also argue that the property renovation was undertaken as part of his building business, even if he also lived in the property. The Taxman may say the profits should be taxed as a trade if the owner has a history of purchasing and renovating many properties and living in each for only a short period.     If you would like to save more tax and get advice from property related specialists, please contact Greg Greatbatch at greg.greatbatch@belvoirlettings.com or telephone 01264 351222 (opt 2).   Belvoir Andover has been operating as a lettings specialist in Andover since 1997. Belvoir Lettings is a national network of franchise offices dedicated to offering the highest possible levels of customer service to both landlords and tenants. Visit www.belvoirandover.com for more information about us.