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Inflation falls to 3.4%. More positive economic news today with inflation falling again. Still above the Bank of England’s target of 2% but way below the double digits we saw a year ago. The UK housing market is already in recovery mode with transaction levels increasing and prices having appeared to have levelled. Let’s hope that the positive inflation news will lead to a welcomed and predicted interest rate cuts through 2024. Two & five year fixed rate mortgages are currently at levels well below the current base rate.
As a tenant why should I bother with contents insurance? There are many reasons why all tenants should have protection in place, unfortunately this often only comes clear when a problem occurs. A classic example of this which we have seen first hand many times over the years. A simple accident of dropping something on a ceramic hob and crack! The surface is broken and a new hob is needed. Replacement with fitting can easily be up to £500. Many tenants believe that accidental damage is covered under the landlord’s insurance, however that is not the case. This is always specified in the tenancy agreement. If you don’t have your own contents insurance, none of your belongings are covered in the event of a flood, fire, burglary or even a leak. That is something most people don’t think about until it is simply too late. Good cover is not expensive and we never want to see our tenants left out of pocket because of something that was out of their own control. We have teamed up with Alan Boswell Insurance, a local Norfolk firm offering award winning tenant focused cover at very competitive rates. For full details and instant cover please click on the link
Are you thinking of letting your property but worried about rent arrears or getting possession? We absolutely understand your concerns, with an uncertain economy threatening jobs, long delays in the court system and a massively overburdened social housing system it can be a long and costly process to get possession. It is for this exact reason we offer a simple and very cost effective solution. Through our partner firm Alan Boswell Insurance we have a range of award winning products that protect landlords from the risk by providing rental protection which covers all non-payment of rent (up to £2500 per month) and legal costs (up to £100,000) for all possession proceedings and court costs. This cover even provides up to 3 months rent after possession is obtained, so this is a truly outstanding cover at a very affordable cost. Alan Boswell Insurance are a very well respected local Norfolk firm based in Norwich and also offer specialist landlord buildings & contents cover too. Please see full details at
Record levels for February! Aldreds lettings department have had an outstanding February with very high demand and an exceptional number of properties let. Even with some Landlords mortgage rates increasing the average rent level growth has more than balanced this out meaning that rented property remains an excellent investment. For those vendors with empty properties, renting during a difficult sales market provides many advantages including minimal costs as tenants will be paying the Council Tax and all utilities, no issues with insurance as the property will be not be vacant and perhaps the best advantage which is this gives breathing space to wait until the sales market returns to full strength. Our Full Managed service covers every aspect of management and is ideal for first time Landlords. We will provide a full appraisal and cover all necessary legislation and how to maximise rental returns with minimal expense. We will market the property using all the most up to date methods such as video tours along with traditional staples, often overlooked by other agents, such as high quality photographs and floor plans. Taking great care to select the most suitable tenant and reference them thoroughly is absolutely key to a successful and stress free tenancy. We want our clients to be as involved as much as they wish with the final selection of tenant for their property. Regular inspection visits and honest and open management of repairs are also very important and good communication with our Landlords during the tenancy means that we enjoy extremely high levels of client retention. Please contact the lettings team to discuss your requirements and how our full range of services would be most suitable for your needs – phone 01493 849111.