Planning your Christmas Gifts Well to Prevent Overspending and Unwanted Gifts

Shopping for Christmas gifts is something that can be really stressful! Getting the right gifts for people can be difficult, so it is often a good idea to start thinking about this early to save having that last minute mad dash to the shops on Christmas eve, when out of desperation you can end up buying unsuitable gifts and spending way more than you wanted to!

Top Tips For Selling on eBay

When selling on eBay, it is important to keep your costs to a minimum. This is important so that you can make a profit. For example, if you are using PayPal to accept payments, you should remember that you will be paying 3.4% of the amount paid, plus a fixed transaction fee. This can get expensive, especially if you are selling larger items, so you may want to offer alternative payment options.

What to Ask when Looking for a Property to Buy or Rent

Looking for somewhere to live is a big decision. Whether you are buying or renting, it is important that you find a place that you are happy with. For most people, property hunting can be a bit stressful at times, so it is always best to get in touch with local estate agents in the area that you want to move to, like this Stonehouse estate agents

Down Valuations and How They Affect Your Property Purchase

Buying a property is a notoriously fraught and often complicated experience. That goes for seasoned home owners just as much as first-time buyers. The last thing you need is a new source of stress. Unfortunately, there is a growing phenomenon that seems designed to exacerbate the process known as ‘down valuation’.

How Are Properties Valued?

Ordinarily when a house or flat is put on the market the estate agent will agree a sensible asking price with the seller. This valuation is made on the basis of factors like the sale prices of comparable properties nearby, the type, size and condition of the property and its location.

If you’re a buyer the price is usually the most important factor in deciding whether to make an offer. Your offer may be slightly below this or you might be happy to pay the asking price. So far so good.

It’s common practice for purchasers to commission a survey to confirm the price is fair. Finding a reputable surveyor isn’t always easy, so it’s worth using a concierge service like Sam Conveyancing, which gives you access to a wide choice of surveyors.

Your surveyor will use similar criteria to the estate agent and may additionally consider structural and environmental issues. For example, a home buyers survey in Watford will take into account the risks of things like settlement and subsidence in properties built on the shrinkable clay sub-soil in this part of the country. With any luck they won’t find anything to conflict with the agent’s valuation.

What Is a Down Valuation?

The difficulty many buyers face, if they are buying with the help of a mortgage, is that the lender might take a different view. In the past the loan company would normally accept the surveyor’s findings. However, it’s increasingly common today for lenders to conduct their own survey, and if they are uncomfortable with the purchase price they’re being asked to fund, they might come up with a lower valuation. This is a down valuation.

Why Are Lenders Down-Valuing?

It’s largely because interest rates are rising for the first time in 15 years. Recently we saw the biggest jump in 27 years to 1.75% and could see rates reach 4% in 2023

Lenders fear that borrowers won’t be able to meet the rising repayments. Consequently they are protecting themselves by ensuring there is sufficient value in the properties secured against their loans for them to recoup their outlay in the event of default.

The Implications of a Down Valuation

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If your lender disputes the value agreed, they will only be prepared to lend on the basis of their lower valuation. For example, suppose you’ve agreed a purchase price of £300,000, planning to put down a 5% deposit of £15,000 and take out a 95% loan for the balance. You’d need to borrow £285,000. If your lender down-values the property at £280,000, then the 95% becomes £266,000. Add to that your £15,000 and that gets you to only £281,000, leaving a £19,000 shortfall. For most people this makes the purchase unviable.

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What Can You Do?

You have three choices: raise the funds elsewhere, perhaps from savings or some other kind of loan; negotiate a lower price with the vendor; or withdraw from the transaction. You won’t change your lender’s mind, and if you approach another bank the chances are they’ll come to the same conclusion, not least because most lenders use the same local surveyors.

In reality, if your purchase relies on getting the full loan amount, then a down valuation could be an insurmountable problem.

All You Need To Know About Kidi’s House

What do you get when you combine creativity, artistry, and technology? You get Kidi’s house! This innovative concept is all about bringing together children with disabilities and giving them an opportunity to express themselves through music and art. Not only does kidi’s house offer a safe and creative environment, but it also provides the children with access to special education and therapeutic services. So if you’re looking for a unique way to help promote diversity and inclusion, then kidi’s house is definitely worth checking out!

How to Realign Garage Door Sensors: The Right Way

Have you ever found yourself wondering why your garage door doesn’t always close properly? It’s probably because the sensors are not aligned! In this blog, we will teach you how to realign garage door sensors the right way so that the door always closes correctly. First, you’ll need to know what garage door sensors are and how they work. Next, we’ll show you how to alignment the sensors the right way so that the door closes properly every time. Finally, we’ll discuss some common problems that users experience with garage door sensors and how to solve them. So get ready to learn how to realign garage door sensors the easy way!

What to Put in Front of Window in Living Room

It’s that time of year where the weather starts to cool down a bit and you start to think about changing your living room into a more inviting space. However, before you can do any of that, you first need to consider what furniture to put in front of your window. This blog is all about that – providing you with a list of furniture items that you should put in front of your windows to make the space feel more homey and inviting. From dressers and cabinets to open shelving and nightstands, we’ve got you covered! Keep in mind that this list is just a starting point, and there are many other options available to you. So start planning your living room renovation now and don’t forget to include furniture items that will make it a comfortable space to spend time in!