Hello again folks, as we well and truly leave summer behind us, I thought I would take a moment to inform as many people as possible about what a great summer we had here in Plymouth.

Plymouth residents actually originate from lots of different areas, mostly due to the naval personnel that relocate here and bring their families down here to live with them but also the student population that come down here to study and find that they love the place so much that they decide to make it their home.

It is said that Plymouth has the most beautiful natural harbour in the world, so let’s start with our coastline and waterways. There is something on offer for everyone, whether it is coastal path walks, horse riding on beaches, kayaking, paddle boarding, sailing, motor sports, sea swimming, scuba diving, fossil hunting or just plain sitting down and looking out to sea, there is more than enough to take your fancy.

How about taking an afternoon on Plymouth Boat Trips? Did you know that you can hire a boat for a river cruise, corporate event, birthdays, anniversaries, romantic sunset cruises or even if you want to scatter a loved one’s ashes at sea. I have personally used them on multiple occasions for entertaining family friends and clients alike and every time, it has been a huge success. I have also hired Plymouth Rib Rides for a birthday treat for a member of the family, it was brilliant exhilarating fun.

Another favourite of mine is a bit more relaxed, take a trip on the historic foot passenger ferry from Stonehouse to The Rame Peninsula, loved for centuries by all who have travelled on her, the Cremyll Ferry is one of Plymouth’s true gems even if the crossing only takes eight minutes, the stunning backdrop of Royal William Yard and Plymouth Sound are definitely going to be a memory that you will treasure.

Being on the coastline of Devon, Plymouth has a number of marinas with incredible views and some offering an array of places to eat and attractions to give you that sense of a real coastal holiday experience. The surrounding towns and villages of Plymouth have some of the most spectacular sandy beaches, perfect for basking in the sun, water sports or crab fishing.

Keeping to the water theme, what about a day at the aquarium? The National Marine Aquarium, to give it its full title, was opened in May 1998. It is the largest aquarium in the UK and is home to over 5,000 marine animals. It acts as an educational institution by teaching visitors about the marine environment but is so much more and really good fun for all the family. Located in Sutton Harbour beside Plymouth Fish Market. If you cross the foot bridge over to the historic Barbican, there are lots of interesting and varied attractions from antique shops, bars, restaurants, coffee shops, tourist shops and of course the famous 15^th Century Mayflower Steps where the Pilgrims set off for America in 1620.

Plymouth has 37 ancient monuments including boundary stone, milestones and other key markers which add a huge amount of interest to any budding history buffs looking in to the local landscape heritage. There is a Plymouth Trails app that you can download to make this an interesting and fun day for the family.

For those of you who like the arts, then Plymouth is definitely the place for you to come and visit. One of my personal favourite places is the Theatre Royal, located on Royal Parade. Such an obviously identifiable building with its striking architecture and the iconic statue of Messenger looming tall to the front of the building at 7 meters tall. This beautiful work of art was created by a Cornish artist, Joseph Hillier, and depicts an actress in a crouching position about to run on to a stage.

This installation was commissioned by the theatre and was unveiled to the public in 2019 as part of Plymouth City’s Mayflower 400 celebrations. We are very lucky to have such a fantastic theatre in our city as we are often privileged to have productions debut here before they go on national tours as we also have TR2 (Theatre Royal 2). This is a Production and Learning Centre on the bank of the River Plym. It contains set, costume, prop-making and rehearsal facilities for new productions as well as being one of the biggest education and outreach programmes for a regional venue in the UK.

One of the city’s newest attractions is The Box. Plymouth’s biggest art gallery and cultural centre which is now home to thousands of fascinating objects from all around the world and includes many local exhibits spotlighting Plymouth’s heritage and achievements. Plymouth prides itself on its arts and culture and regularly hosts many exhibitions and events throughout the year.

If you are happy to drive just a few minutes north of the city you’ll find one of the finest and largest national parks in Britain – Dartmoor! What a fantastical mesmerizing place this is, so much so, I will keep this one for my next blog about our fabulous City of Plymouth…

Hello again folks, and thank you in advance for reading my blog. Sometimes I need to say things that may not be so positive or easy to hear, but they must be told. Speaking the truth is not always easy, and truth speakers are sometimes not the bearer of good news. This is indeed the case now. This blog covers what you should expect from the property market in the next few months.

Last week most of the high street banks pulled their lower rates mortgage deals from the table, and before the Bank of England announced a general interest rate rise to 5%, the lenders had already put their borrowing rates up to over 6% now, with the average (75% loan to value, 25% deposit) being at 6.44%.

If you are looking at a house purchase of around £250,000 with a deposit of £50,000 (20%), the average variable repayment is now well over £1,500 a month. This, of course, is harming the housing market already. Buyers are getting cold feet on properties that they agreed to purchase a few months ago and are already re-evaluating the cost implications and how much of their income will now be swallowed up by mortgage payments, let alone the fact that we are still in a cost-of-living crisis with inflation hovering just below 9%.

The more mature people out there (no, I am not being ageist) that have been through this process before will not necessarily be the ones that are worrying about mortgages as they may well have either paid them off or have a lot less borrowed. Still, younger buyers or first-time buyers will be reconsidering their options.

When the property market finds itself in this position, we find ourselves in shark-infested waters. This is when some of the less scrupulous agents out there start resorting to less respectable methods to keep their available stock levels high.

Now, this is where other agents will protest, but we have been here before, and we’ve seen it before, and we know the warning signs to look out for.

1. Has an agent given you a surprisingly high valuation that you weren’t expecting – This is what we in the trade call buying an instruction; the agent knows full well that your property has no chance of achieving this price but also knows that if they can persuade you that they can achieve the impossible than they stand more of a chance of gaining your business.
2. Has the agent offered you a generous low fee – again, any proper business person knows full well that all companies are facing increased costs for absolutely everything that they pay for, from electricity to phone calls, petrol, paper, envelopes, websites, staff wages, photocopiers, membership to recognised bodies to the tea boat in the office, so if they are offering meagre fees, you know that they are not anticipating selling your property, just using you to make their property stock look better than their competitions and make other potential sellers want to use them.
3. How quickly do they ask you to reduce your price after coming to the market – On one of the property portals that we use, there is a tab that shows us which agents are bringing the asking prices of their properties down (Price Reductions), here in Plymouth there are the usual suspects. Still, there is always that special one that must rely on price reductions consistently to try and gain any credible interest in their stock of properties; quite often, though, this has the opposite effect and will deter potential buyers from putting in offers as it can come across as negative marketing. If you keep seeing properties that are dropping in price, do you ask the same question as me? What is wrong with it that it needs to keep coming down in price?
4. Multiple Agent Listing – This is where you feel you have no choice but to list your house with more than one estate agent. If your agent recommends listing your property jointly with a specific agent, maybe this is not the right thing to do. As with the previous point, buyers will question the necessity for your property to be advertised with more than one agent when if you chose the right agent, then your property could have gone under offer already.

There are obviously some exceptions to these general guidelines, but any good, proper, qualified agent should have already factored in these shifts in the market; they should also know what is expected in the coming months and have worked out and planned around this for selling your house.

If the agent reacts to the market, they must be more proactive.

The last thing that any seller wants to be is chasing a down-turning market, as this usually leads them to achieve a much lower selling price than they could have if they planned the marketing price by the changing state of the market. This is a clear case of age and experience, combined with qualified and regulated service, winning against youth and enthusiasm, usually married with the more corporate companies (or companies who try to emulate corporates) who rarely keep / pay for their more experienced staff, as this invariably cost them much more in staff wages.

As usual, I will end this blog positively; last week, we achieved marvellous sales levels across all different market price ranges. We regularly call our clients and let them know what is happening to the property market so that we can change/amend their marketing ahead of the competition and still achieve the best possible outcomes. Cross Keys Estates prides itself on the honesty and integrity of the advice given to our clients by all of our staff, and this is why we are a multi-award winning company with over 1,500 5 star ***** reviews on www.allagents.co.uk from our clients, making us the best estate agent and the best-letting agent in Plymouth for many years in a row now.

If you would like to pop into our friendly office for a chat or call us on the phone (01752 500018) for any help or advice or to book a valuation on your property, please rest assured that you will be in the best possible hands in this industry.

Hello again folks and thank you in advance for continuing to read my blogs. I always try to find topics that are of general interest to everyone but it does get difficult sometimes to write about some of the topics as they are not always the most riveting of subjects. That being said, let’s talk about insulation (yawn, yawn and another yawn).

We have all seen the adverts on the television with regards to all forms of property insulation. They all claim to be great investments in your property that will, in the end, save you money and add value to your property, THIS IS NOT ALWAYS TRUE, in fact quite the opposite, some forms of insulation can in fact damage your property, down value your property and quite possibly make you property un-mortgageable.

The first form of insulation is the external type that is attached to the outside of your property. If your property is listed this will not be an option for you. There are some forms of this external insulation that are subject to EWS1.

An EWS1 certificate is an External Wall System Fire Review certificate. They come into play when a leaseholder is buying or selling or re-mortgaging an apartment in a multi-storey multi-occupied residential building. It is not a building safety certificate or a legal requirement. It is a mortgage valuation tool  –  An EWS1 survey is only required if: buildings over 6-storeys where there is cladding, curtain wall glazing or vertically stacked balconies. buildings of 5 or 6-storeys where there is a significant amount of cladding (25% plus of the whole of one elevation).

As with anything in life, these issues are here for the greater good, but seem to have a huge negative impact for home owners that fall into this category, as their properties are either un-mortgageable or they usually have to bare a huge cost to have this cladding removed. Not all forms of insulation are covered by this “Lenders Law” but there really is a large amount out there that fall prey to this new condition for lending.

The other adverts that are becoming increasingly irritating are the ones for “Spray Foam” loft insulation. The claims that they can add value to your home by reducing your heating bills are FALSE, they might well indeed reduce your heating bill whilst you are living at the property but the negatives far outweigh the small financial gain.

The installation process for this spray foam seems to be very easy but even if your roof has a physical membrane between the rafters and the roof tiles, spraying this expanding foam shifts and lifts the tiles and allows for water ingress as the foam itself is not waterproof.

Secondly, again we look at mortgage lenders, applying this spray foam insulation renders your property un-mortgageable. The foam itself also forms a barrier to the roof timbers and has led to some of these timbers beginning to rot due to the moisture that either comes in through the newly formed gaps in the tiles or comes from the foam solution itself. Currently, there are many hundreds of cases going through the law courts for these very reasons and also now include cases where it has been proven that the fumes given off by some types of this foam insulation materials can be seriously hazardous to your health.

A claims management company (CMC) is in the process of helping with more than 500 claims from homeowners to get refunds for inappropriately installed spray foam installation. This law firm, which helps recover money paid for mis-sold home improvements, said it is helping people on a no-win-no-fee basis who have had mortgage offers withdrawn and lost sales after surveyors spotted spray foam insulation.

The chief executive of this law firm said homeowners think they have done the right thing by opting for spray foam insulation in the roof, as it is often sold as saving more energy than traditional ways to insulate the home. He also said “Spray foam insulation is the cancer of home improvements”.

There are several hundred claims for homeowners who have been refused equity release, mortgages or that have had mortgage offers (AIP, Agreement In Principle) retracted after the surveyors spotted spray foam insulation in the loft areas.

There may be as many as 250,000 homes with spray foam insulation in the loft, and the guidance being offered is to adopt a highly cautious approach. The final recommendation is the removal of the spray foam in almost every case.

Now I am guessing that after reading this you may be feeling very conflicted about how to insulate your property but if you ask me, the original, tried and tested, way is to use the rolls of insulation that you can buy from your local DIY stores. Loft insulation is typically sold in batts or rolls, made from mineral wool, fibreglass, or sheep’s wool. All three of these products are non-flammable, requiring a high temperature to melt. Mineral wool, sometimes sold as rock wool, will only melt at temperatures hotter than a house fire, making it safe to use.

The only reason that I am writing this blog is because, here, at Cross Keys Estates, we have had a few properties that have fallen foul to this new negative and we just want to bring it to our clients’ and friends’ attention alike.