Is your new home gas safe?

Incorrectly installed appliances can cause carbon monoxide poisoning, gas leaks, fires and explosions

 There’s no off-season when it comes to gas safety, but it’s important to know that seasonal gas safety is very much a thing. Winter is typically the time of year most people think about it. As the temperatures plummet and frost forms on the car it’s the time when the heating gets turned up to the max and your gas appliances are put under the most stress.

 Once the cold weather sets in, lots of us use our gas boilers and gas fires to keep our families safe and warm. This increased usage can put extra pressure on your appliances and leave them at risk of breaking down when you need them the most.

 Gas safety should be always be on your checklist

 As a new homeowner, gas safety should always be on your checklist when it comes to ensuring the safety of your home. Gas appliances are typically safe and reliable when used correctly; however, small problems can quickly become large ones if they're not handled promptly.

 As soon as you can, find out where your gas Emergency Control Valve is located, so you can quickly switch the gas supply off in an emergency. In newer houses, the emergency control valve is normally outside with the gas meter – in a meter box. If it’s not there, try looking under the stairs, beneath the kitchen sink or in the garage.

 Regular servicing helps keep energy bills down

 Ask the sellers for all records they have about installation, maintenance and safety checks for their household’s gas appliances and gas pipework. And if they can’t provide a record, or it’s been more than 12 months since the last check, get in touch with a local Gas Safe registered engineer who can carry out a safety check for you.

 Regular maintenance and inspections of your gas systems and appliances will help keep them running safely. Additionally, regular servicing helps keep energy bills down by making sure that the appliance is working at its most efficient level.

 Engineer registered with the Gas Safe Register

 It’s important to remember that any gas appliance must be installed and serviced by an engineer registered with the Gas Safe Register – this includes boilers, cookers, ovens and hobs. An engineer registered with the Gas Safe Register will carry out a thorough check of the appliance and its ventilation system to make sure it's safe to use. They’ll also issue you with a Gas Safety Certificate upon completion of their inspection.

 The certificate is essential for verification that your gas appliances are safe to use. It may be wise to include this checklist item in your regular maintenance routine when moving into a new home. Ensuring gas safety in your home could potentially save lives – so never underestimate the importance of checking for gas safety within your property!

 Qualified engineer in your local area

 If you’re not sure who to call when it comes to gas safety, The Gas Safe Register website has a handy search tool to help you find a qualified engineer in your local area. As an added reassurance, all engineers registered with the Gas Safe Register carry an ID card which proves their identity and registration status – so make sure you ask for this before any work starts.

 For more information on how to stay gas safe in your home, as well as to find a local Gas Safe registered engineer in your area, visit www.GasSafeRegister.co.uk or call 0800 408 5500. Following these simple steps can help ensure that your home is safe from any potential gas-related problems – leaving you free to enjoy your new home!

Looking for mortgage advice for your next home?

If you’re moving to your next home you’re likely to take out a new mortgage. Talk to our professional team about buying your next home to help you feel prepared to get your next mortgage. Please contact The Surrey Mortgage Broker – telephone 01252 759233– email richard@thesurreymortgagebroker.co.uk

Top Things To Do In Farnham

This month marks 20 years since I moved to Farnham. It is the longest I have lived anywhere and I thought it an appropriate time to write a piece about the town that I have grown to love over the last 20 years.

My family moved here, like many others, after living in South London for 9 years. I am originally from Lancaster and moved to London age 21 full of a naïve sense of adventure! My wife and I were married in 2000 and our first child was born in 2003. We loved living in London and had a great community where we lived in Colliers Wood, SW19. However when Ellie was born we decided to start looking for a move out of London. I had worked for the Woolwich Building Society before it was taken over by Barclays and I covered Farnham branch, which was on Downing Street and is now a bookmakers. I recall it being a nice place so one weekend we had a drive out here and thought “yes we could live here”.

Farnham is a very pretty town and is surrounded by some lovely countryside and once we had found a place to live we started exploring. So in no particular order here are some of the best things about the town from the last 20 years of living here.

The Great Outdoors

 We are so lucky in Farnham to be surrounded by some lovely countryside. If you like to get out and about there is something for all ages and abilities.

 ·       Alice Holt Forest https://www.forestryengland.uk/alice-holt-forest

Loads of paths and trails for walking and cycling. Great play areas for the kids. Go Ape also have a base here for the adventurous among you. Also home to Parkrun on a Saturday morning.

·       Waverley Abbey https://www.english-heritage.org.uk/visit/places/waverley-abbey/  Ruins of a Cistercian monastery dating back to 1128

·       Bourne Woods https://www.forestryengland.uk/bourne-wood-farnham

Beautiful woods very close to Farnham which is now often used as a film location, the first was Gladiator back in the 1990’s since then it has been used in various movies and TV shows including War Horse, Harry Potter, Avengers, Transformers and Robin Hood.

·       Farnham Park https://www.farnham.gov.uk/things-to-do/getting-outside/parks-and-gardens/farnham-park/

A 130 hectare deer park just a short walk from the town centre, a stroll down the one kilometre tree lined Kings Avenue is a must. Great views over the town are to be had on a clear day.

Farnham Castle

 The former home of the Bishop of Westminster, Farnham Castle is steeped in history. The keep dates back over 900 years and the castle has hosted English monarchs from King John to Queen Victoria. Now a top wedding venue as well as conference centre. You can also enjoy tours if you like a bit of history. https://www.farnhamcastle.com/

Hospitality

 I would say Farnham is bucking the trend at the moment and hospitality is thriving. There are a great selection of pubs and restaurants to choose from. Recently two new gastro pubs have opened up in the town centre, the Tellers Arms and the Third Monkey offering high end gastro pub dining experiences. Personal favourites are the Castle Inn on Castle Street and the Queens Head on the Borough. If you like a beer then a craft beer house has opened on the borough called The Borough Beer House, a simple name that does what it says on the tin. There are loads of pubs to frequent in Farnham and I don’t have a bad word to say about any of them, I have conducted quite a lot of research over the years in this area and can say Farnham is great for pubs!

Lion and Lamb Yard

 This is a little gem of a street. Nestled off West Street through an archway you’ll find the super pretty Lion and Lamb yard. Along the cobbled, traffic free street you’ll find coffee shops, restaurants, the wonderful wine yard and various boutique shops. In warmer weather it is a real treat, with outdoor seating at the cafes and restaurants there is a really good atmosphere. It is a must visit when you come to Farnham.

Farnham Town Football Club

 IN recent years the local football team has seen some investment and this has resulted in real success as the climb the ranks of the football pyramid. Having been there on a couple of occasions I can vouch that the standard is good and it is a really family friendly club with a great atmosphere. Well worth a follow if you like your football https://www.ftfconline.com/

Farnham Rugby Club

 I cannot mention the football without mentioning the rugby club. Like the football team the rugby team has won recent accolades and can boast to be the home club of Jonny Wilkinson, England’s 2003 Rugby World Cup hero! https://www.farnhamrugby.org/

Farnham Business Community

There is a thriving local business community where there are various events small businesses can attend and network with other small businesses. Over the years The Surrey Mortgage Broker has managed to establish itself as the top-ranked mortgage broker in Farnham based on Google rankings. Having amassed 145 five star Google reviews at the time of writing that is something we are very proud of here at the Surrey Mortgage Broker.

I’m sure I could continue as there are bound to be things I’ve missed but I hope this has given you a little insight into the beautiful town of Farnham, if you are thinking of moving here then I can heartily recommend it! Of course, we would be happy to discuss your needs here at The Surrey Mortgage Broker, just get in touch!

Helping the Next Generation: How Parents Can Support Their Children Onto the UK Property Ladder

Buying a property in the UK is not a transaction but a stage of life. This stage can be even longer and more daunting, especially as government policies constantly shift.

For many families, the solution has come through intergenerational support. More than ever, parents are stepping in to help their children take that all-important first step toward home ownership. But the ways in which parents can help can go far beyond simply gifting a deposit.

What Are The Practical Ways Parents Can Help Their Children Buy a Home?

1.       Encourage Saving Through a Lifetime ISA (LISA)

One of the simplest and most impactful ways for parents to support their children early is to encourage them to open and consistently contribute to a Lifetime ISA (LISA).

How it works:

• Children aged 18 to 39 can open a LISA.

• They can deposit up to £4,000 per year, and the government will add a 25% bonus (up to £1,000 per year).

• The funds can only be used to purchase a first home valued up to £450,000 or for retirement after age 60.

• The LISA must be open for at least 12 months before it can be used for a house purchase.

 2. Support the Deposit – Not Just With Gifts

The most common route for parental support is to gift a deposit and it is accepted by a vast majority of lenders, but this isn’t the only method — and sometimes it isn’t the most suitable one either. Not all parents are in a position to give away savings permanently.

Below are the two examples of how lenders are able to add flexibility to the arrangement.

• Gen H Deposit Boost gives helpers the choice between an interest-free loan (repaid at face value) or an equity loan (returns vary with property value). Repayment is flexible, and the arrangement can be converted to a gift at any time. Gen H manages the legal structure and repayments, offering flexibility for both parties.

• Barclays Family Springboard Mortgage requires the helper to lock away 10% of the property value in a Barclays account for five years. The helper earns interest, and the money is returned if the buyer keeps up with payments. The helper’s money is at risk if the buyer defaults, and the funds are not accessible during the lock-in period

• Buckinghamshire BS allows parents to help their children purchase a property by offering an equity charge on their property as a deposit

3. Become a Joint Borrower Without Ownership (JBSP)

Some lenders offer a Joint Borrower Sole Proprietor (JBSP) mortgage, where a parent helps with affordability but does not go on the deeds. This means:

• The child is the sole legal owner

• Parents help "boost" income for affordability

• There are usually no Stamp Duty implications for the parent

While there are a few lenders that are able to offer this product, Gen H and Saffron are the top 2 lenders that will allow longer terms on the mortgage even if a joint borrower is much older. 

Mortgage lending criteria are constantly evolving. New products come to market frequently, especially for first-time buyers and family support structures.

As an independent, representative of the whole of market mortgage brokerage company we can:

• Help you explore all your options, not just the big banks

• Ensure that the structure of support fits your financial goals

• Guide you and your children through the entire application process

For a more detailed conversation of your circumstances, please don’t hesitate to get in touch.

Mortgage Interest Rates: What’s Going On, and What’s Next?

Mortgage Interest Rates: What’s Going On, and What’s Next?

Alright, let’s have a bit of a chat about mortgage interest rates. If you're like most folk, you've probably been keeping an eye on the news or your bank account with a fair bit of trepidation lately. Interest rates have been all over the place for the past couple of years, and if you're looking for a mortgage or trying to remortgage, it feels like you’re riding a bit of a rollercoaster, doesn’t it?

What’s Happening with Mortgage Rates Right Now?

Right now, mortgage interest rates are still fairly high compared to where they've been in recent years. After a few sharp increases over the past two years — driven mainly by the Bank of England's efforts to control inflation — rates have stablised a bit.

To give you a rough idea, if you’re looking for a fixed-rate mortgage at the moment, you might be looking at something around 4% for a decent deal, depending on your levels of equity and your credit score. It was 5-6% not that long ago.

Now, these rates are not just plucked out of thin air; they’re influenced by all sorts of things. But one of the big drivers, particularly for the deals available to you as a consumer, is something called swap rates.

What Are Swap Rates, and Why Do They Matter?

I hear you asking, "What on earth are swap rates?" Well, swap rates are essentially the interest rates that banks charge each other for borrowing money over a set period of time (like 2 years, 5 years, 10 years). When banks are pricing up mortgages, these swap rates are a major factor in how they set their own interest rates for fixed-rate deals.

If swap rates go up, you’ll typically see mortgage rates go up as well, because it costs lenders more to borrow the money they need to lend to you. And if swap rates go down, mortgage rates might come down too, as it’s cheaper for the bank to get the money they need.

The tricky bit here is that swap rates can be a bit volatile, and they’re often influenced by broader market forces. Things like expectations of future interest rate hikes (or cuts) by the Bank of England, inflation worries, and global financial trends can all have an impact. UK Swap Rates have gone up a little in the last couple of weeks.

What’s the Outlook for Interest Rates in the UK?

Now, if you're wondering where things are headed next — you're not alone. Everyone’s got their ear to the ground hoping for a bit of certainty, but the truth is, no one knows for sure.

Last week the Bank of England lowered the base rate to 4.75%, most of the lenders are already lending at rates below this so I think the base rate needs to come down a bit more to help stimulate the economy. The difficulty for them is they are tasked with trying to keep inflation down at 2% and interest rates are pretty much their only tool. The recent budget by Rachel Reeves has imposed, what I think are, inflationary taxes on employers. Namely the increase in employers national insurance and an increase to the minimum wage. For employers already struggling with increasing costs these increasing taxes are going to mean either redundancies or increases in prices. It is all early days and still uncertain but my money is on lending rates not coming down quite so quickly, if at all in the next couple of years.

So, What Does This All Mean for You?

If you’re looking to buy a house or remortgage, it’s a bit of a balancing act at the moment. Mortgage rates are still higher than we've been used to, but they're not necessarily going up much more in the short term. That means if you can lock in a decent deal now, you might be in a better position than if you wait and hope rates drop — because the reality is that rates could stay higher for a while yet.

For anyone coming to the end of a fixed-term deal, now’s a good time to review your options. It’s also worth thinking about whether a fixed-rate deal or a tracker mortgage makes more sense for your circumstances, depending on whether you think rates will go down or stay level.

Final Thoughts:

It’s a tricky time for anyone looking at mortgages, whether you're buying your first home, looking to remortgage, or just trying to keep up with all the financial mumbo-jumbo, the key is to stay informed and make sure you’re getting the best deal for your circumstances.

And as always, if you’re in doubt, a good mortgage broker can be worth their weight in gold to help you navigate these tricky waters.