Budget Roundup

Budget Roundup for LandlordsChancellor George Osborne delivered his last budget before the general election yesterday, but what did it hold for the property industry?

Savings was the key here. Following years of low-interest rate misery George Osborne finally offered savers some respite as he offered tax-saving concessions. Basic rate taxpayers won’t pay a penny tax on their savings until they hit £1000, reducing to a £500 threshold for higher-rate taxpayers. Addressing the Commons, the Chancellor said “…at a stroke we create tax free banking for almost the entire population. And build the economy on savings not debt.” A sigh of relief for many.

Great news too for first-time house buyers. The government has pledged to top up savings by £50 for every £200 saved (capped at £3000 per individual) as part of a new Help-to-Buy ISA. The new Help to Buy Isa will help people to save for a deposit for their first home and it is estimated that around 285,000 first-time buyers will use the scheme a year.

Commenting on the Help to Buy: ISA announced in today’s Budget, Mark Hayward, managing director, National Association of Estate Agents (NAEA) said: “This initiative will provide a significant boost to the ability of a first time buyer to save speedily and effectively. This is exactly what is needed to engage the first time buyer market, particularly as we have seen the current criteria under the MMR constraining aspirations to buy a home. It especially benefits couples who are buying for the first time as both are eligible to open a Help to Buy: ISA which potentially means £6000 from the Government bonus towards a new home. It is also timely, considering house price inflation out paces wage inflation, so this additional boost to first time buyers savings pots will help them at least keep apace rather than fall behind the inflationary curve.”

Maybe you think the sense of optimism could be misguided? Looking at the wider picture, could the budget announcements contribute to rising house prices yet again and become a catch 22 situation, especially bearing in mind the deficit in term of numbers of new homes being built?

Add to this heady mix, a potentially greater number of canny pensioners investing in the buy-to-let market come April when pension changes take effect and it’s difficult to predict the outcome.

Source: The National Association of Estate Agents www.naea.co.uk

Crystal joined Pace in 2007 and was appointed to her current role of Managing Director in 2010, heading up the company founded by her father in 1994.

She is responsible for the daily operations of the business, whilst also ensuring the company is financially sound, has strategic direction and is planning for future growth.

Crystal takes a thoughtful and considered approach to all that she does, transferring her determination to deliver implicit care, attention and professionalism to every member of her team.

Pace employ 20 full time staff. Meet the key team members here.


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"I am a landlady with many properties and have dealt with Pace for about 10 years. Marcus is very friendly, honest, efficient and helpful and has made my letting experience extremely easy always finding me suitable tenants. I have nothing but praise for Marcus who has been with Pace many years.

Mary R

After renovating a block of 21 flats to place into our rental portfolio we instructed PACE and gave them two weeks to let all the units on a sole agency basis. They marketed the flats for a week and conducted a strict open house event on the following Sunday for 4 hours. Within this slot 15 flats were let with the remainder let the following week.

The Director of Runwood Homes

As a landlord with multiple HMO properties, I have employed the services of PACE for a number of years now as they ensure I have my required specification of tenant placed in all my rooms. I only let rooms to employed applicants and very much favour their opening hours as this attracts and accommodates the right people.

Johnathon Simons HMO Landlord

Sara is my dedicated property manager and has been for some time. I have always found Sara to be a very professional member of staff. Sara always keeps me informed and provides regular visit reports, which is important for any landlord. Sara deals with any problem that befalls her, contacting me if she needs to. Sara will discuss any problem and invariably come to a solution.

Raymond Durrant – multi property landlord

The staff are always friendly and helpful, my special thanks to Sara, we have built a very special rapport and I feel very comfortable phoning if I need anything. I feel very happy that I have one person to deal with all of my issues.

Evelin Jenkins - Tenant

We cannot stress how much we appreciate having a dedicated property manager for our properties. We live 350 miles away and also spend a great deal of the winter out of the country. To be able to phone our manager who understands our properties and how we operate is for us complete peace of mind.

Peter and Maureen Mason – Multi property landlords

I was extremely thankful I chose PACE to conduct the sale of my property and extremely grateful to Sue Mellor who worked very hard to ensure a smooth transaction. She was most knowledgeable and professional throughout, always reachable and approachable. She was able to answer all the questions I posed.

Yvonne White

I've recently purchased a property with the help of Pace. I found the staff extremely helpful and friendly. My first contact was Katie, she showed me around the property and liaised with the vendor. After, I dealt mostly with Sue Mellor. She was very knowledgeable and helpful. She kept me informed throughout the process and was the first to congratulate me on completion.

Roni Miller

I just thought I'd drop you a line about Adele Moore who is managing my flat. Adele is doing a great job and is a credit to Pace. She has done, and continues to do, exactly what she says she will do and as a customer that is exactly what I want. Adele doesn't take things at face value and investigates things when she needs to, again a thing that clients will prize.

Tony Mihill - Landlord

Thank you to the team at PACE for firstly providing excellent property management services over many years and secondly for helping me to sell my property recently.

All your hard work has been very much appreciated. Special mentions to Sara, Amy, Sue and Billy for their friendly and professional service!

Charlotte, (Property Management & Seller)