Maximising Space in the Office and Home
Space, whether it be at home or in the office is a much-valued commodity and one that many of us strive to maximise. Making the most of the space that you have can be a catalyst for many things, for example, it is calming and so can help minimise stress. There are some rooms in the home or office, however, where it is difficult to use the space as effectively as is desired and it is in these spaces that careful consideration and a little “blue sky thinking” can go a long way. Here are some top tips for maximising the space in the home or office.
Open Plan Living and Working
The physical structure and dimensions of a living or working space are the single most important element when it comes to maximising space. Looking to achieve an open plan design will make the space look bigger than it actually is, make the space lighter, and more airy. Taking down internal walls, that are surplus to requirements is the first step towards creating an open plan space and once this has been completed you can start to consider windows and doors.
Some designers would argue that doing away with internal doors completely is the way forward, however, sometimes being able to divide the space into distinct zones is necessary. In this instance folding doors, such as the ones supplied by Barrier Components are a great solution.
As far as windows are concerned the bigger the better, on the proviso that they are super-insulated and that they do not compromise the integrity of the buildings original design.
Free Flowing Colour and Flooring
Another way to help a space look bigger is to carefully plan how the rooms will be decorated and here using free flowing colour and floor covering is key. That is to say, that by using the same colour paint on the walls and the same floor covering throughout, there will be an unbroken flow, thus giving the illusion of a bigger space. Then use accents such as framed photographs and paintings so that the walls don’t look too cold or stark. Also, think about the colour of walls, ceilings and floors. It is widely accepted that, generally speaking, choosing lighter colours helps make a space look bigger and lighter.
Don’t Compromise on Clutter
It is easy to overfill a room, particularly a smaller space, with unnecessary pieces of furniture, storage and other items that can make a room look cluttered. Here, taking a smart approach and not compromising when it comes to clutter is paramount if you are to maximise the space. Consider using multifunctional furniture and make the most of areas like alcoves, where shelves can be elevated for storage.
Maximising the space in the home or office is not difficult to achieve, but it does involve some discipline and taking a minimalist approach. A systematic plan, starting with the modification of the physical structure and then progressing to the decorating and furnishing will leave you in doubt that less, in this instance, is definitely more.
This is a guest post, written by Property Division.
UK FinTech: Put Your Money Where Your Mouse Is
For many of us, the term ‘FinTech’ brings to mind cutting-edge computer programmes and niche apps, designed solely for financial traders and analysts. However, chances are, you’re already using multiple examples of FinTech every single day! If you’ve ever shopped online or paid via PayPal or Apple Pay, then you’re already benefitting from these innovations.
A study published earlier this month by Innovate Finance reported that more than $1.8 billion was invested in UK FinTech in 2017 – a huge 153% increase on the previous year. Join the revolution today, and make sure you’re ahead of the curve by reading our simple guide to FinTech in 2018:
What is FinTech?
FinTech is short for Financial Technology
FinTech refers to any technology specifically designed for a financial purpose, from your everyday online banking apps to bespoke investment platforms and digital currencies, for both retail and commercial users.
Who are the market leaders?
Many FinTech products, such as PayPal, are now a well-established part of our everyday financial management. However, more disruptive innovations such as Bitcoin and the blockchain technology that underpins it are also now becoming household names – a great example of how FinTech is changing the game in 2018.
Who should you look out for in 2018?
As investment into UK FinTech continues to climb, a wealth of exciting new ideas are emerging every week! Ones to watch in 2018 include:
TransferWise, an exchange platform marketed as offering ‘the real exchange rate’, which allows users to send money across borders without the ‘hidden bank charges of up to 5%’.
Kuflink, a property-backed peer-to-peer investment platform offering investors up to 7.2% interest pa gross* with opportunities to get started from just £100. Fully authorised by the FCA.
Monzo, a fully licensed online bank with built-in budgeting software that encourages users to meet their savings goals by identifying how much is being spent in different areas, such as travel and dining out.
Squirrel, an online budgeting app which helps you to save by drip-feeding your chosen budget back in to your account throughout the month, making payday splurges a thing of the past!
This year will undoubtedly be the biggest yet for UK FinTech – even the Mayor of London, Sadiq Khan, has pledged to make 2018 the year ‘we take over from Silicon Valley as the world’s leading tech hub’. If you’re keen to be a part of the UK’s meteoric rise to the top, then now is the perfect time to start researching what FinTech could do for you.
Remember, FinTech isn’t just there to help you manage your money – it could also make you money! Sign up to Kuflink’s bespoke, easy-to-use online investment platform today to earn up to 7.2% interest pa gross! *
*Capital is at risk. Rate correct as of 01/03/2018. It is recommended that you seek independent financial advice.
The Landlord Decorating Guide: 7 Useful Tips
If you’re looking to redecorate in order to attract new tenants, you need to find some middle ground. Rented properties ordinarily have a higher level of wear and tear than a private home. This means anything massively luxurious may prove to be a waste of resources.
However, the cheapest alternatives may not be the best way to go, either. You want to attract good tenants who will be comfortable whilst renting from you. This means it’s likely they’ll stay longer, which is good news for any landlord. Here’s a handy guide if you’re looking to redecorate your rental property.
1. Keep it neutral
If you’re redecorating walls, you can’t really go wrong by keeping the colours neutral. It helps to keep a consistent theme throughout the home, and essentially gives your tenants a blank canvas to work with. When you’re painting, it’s better to over-purchase so you’ve got some left over. This way, when the tenants leave, you can touch up any nicks with relative ease.
2. Re-finish old features
If there are built-in units that are past their best, consider re-finishing them. As long as there’s no structural damage, a kitchen units can be sanded and re-finished or painted to look good as new. You can also replace handles to make them look even newer. If you don’t feel comfortable in your DIY skills, find a handyman who’ll do the job for you.
3. Invest in basic appliances
A home with basic appliances included is more likely to be rented. It can be a significant investment, however, so ensure you consider the rent you’ll be receiving and the tenant you want to let to. Going this extra mile can make a huge difference in a potential tenant’s decision on whether to rent the property.
4. Clean the property thoroughly
This factor seems so obvious, but it’s continuously overlooked by many landlords. When people come to view the property, they’ll want to imagine themselves living there. For obvious reasons, this is much easier when the home is spotless. Pay attention to details such as sinks and windowsills, and open all of the windows a couple of hours before a viewing to allow fresh air to circulate.
5. Make it light
A bright and airy home is much more attractive than a dark one. Fit extra light fixtures if necessary, or use lamps to brighten up the place for viewings. Make the most of any natural light by leaving windows as unobscured as possible. This is where the lighter, more neutral colours help in making rooms feel even lighter.
6. Choose durable
Where possible, go for more durable alternatives when redecorating. Rather than painting bathrooms, use tiles to make it more durable. They’re also easier to maintain and are more resistant to mould and infestations than paint. Tiles can be expensive, however, so use paints that’s mould-resistant as a more cost-effective (albeit lesser) alternative.
7. Lay appropriate flooring
When choosing your flooring, try to find a happy medium between comfort and durability; especially in key areas. Areas which see high traffic, such as hallways, living rooms and kitchens, may be better with laminate or wood flooring rather than carpets. Carpets can become dirty very easily and may need replacing due to wear and tear, however wood and laminate is much more durable. Carpets are usually best used in bedrooms, but be aware than lighter colours are more likely to show dirt and need replacing sooner!
If you’re a landlord who’s looking to redecorate, keep your ideal tenant in mind. What would be the deal-breaker in their decision? Decorating to cater for a wide demographic is the best way to go, but a student will have different needs to a family. The subtle details are what will close the deal for you.
This is a guest post, written by Direct Wood Flooring.
Inside the RBS Small Business Scandal
Last week, the Treasury Committee published a controversial report on the Royal Bank of Scotland’s treatment of small business customers during and after the 2008 financial crash.
Although the FCA began their investigations in 2014, they failed to publish their findings by the deadline of 16th February 2018, citing legal reasons – consequently, MPs on the Treasury Committee voted to use their parliamentary privilege to immediately release the full, unredacted report.
The document details how the bank’s Global Restructuring Group (GRG) failed to meet FCA standards and often addressed complaints in a dismissive manner, leading to the systemic mistreatment of SMEs and a widespread failure to act in their customers’ best interests.
The report finds that the overall culture of the company did not adhere to the FCA’s ‘Treating Customers Fairly’ principles, citing a combination of ‘poor management judgement’ and a ‘culture of deal making, with its focus on the financial interests of GRG’ as the source of RBS’s shortcomings.
In addition to these large-scale concerns, numerous offensive and inappropriate incidents are highlighted including an email which contained ‘mimicry’ that was ‘disrespectful of the customers’ nationality’.
Although RBS chiefs were quick to point out that some allegations made against them were proved false by the report, they did release a statement to reassure customers that they had taken the criticism on board; ‘The culture, structure and way RBS operates today have all changed fundamentally since the period under review and we have made significant changes to deal with the issues of the past, including how we treat customers in financial distress’.
Committee Chairwoman, Rt Hon Nicky Morgan MP, commented “The findings in the report are disgraceful. The overarching priority at all levels of GRG was not the health and strength of customers, but the generation of income for RBS, through made-up fees, high interest rates, and the acquisition of equity and property.”
A decade has now passed since the UK financial crash, yet the resulting scandals seem as frequent as ever. Whilst many SMEs have been unable to survive the ten turbulent years since the crash, many of those that did are frustrated by the recurrence of these issues; P2P investment platform Kuflink explained that ‘SMEs such as ourselves work extremely hard to adhere to both FCA regulations and our own company values, so it’s concerning to see that, once again, the actions of big banks like RBS are creating mistrust across the entire finance industry’.
Forbes Name P2P in Top 4 Investments for 2018
“The best part is, you get to earn a pretty decent rate of return – usually upward of 6% or more”
-Forbes
When the first P2P platforms launched over a decade ago, they were widely regarded as a fringe investment. However, with billions now being lent across the world via these platforms, they have unmistakably become a mainstream method of investing. Even some of the most recognisable names in finance are now backing P2P lending, with Forbes calling it an investment ‘you absolutely should make in 2018’. Here are five reasons why so many people are choosing to make their money work harder for them with peer-to-peer investments:
1. P2P Lending is Regulated by the FCA
The UK Peer-to-Peer sector has been regulated by the Financial Conduct Authority since 2014. Whilst the sector is regulated, not all firms have met the required standards to achieve individual approval – however, Kuflink was amongst the first P2P lenders to gain full FCA approval back in 2016! This achievement provides additional protection for investors, ensures firms deal with any issues appropriately and requires platforms to maintain a stable and adequate financial position. In practice, FCA regulation helps to keep your money safer and gives you more confidence in your investment. *
2. Kuflink Co-Invests up to 20% Alongside You in Every Deal
We’re so passionate about our P2P opportunities that we co-invest in every single one of them! Kuflink is the only platform in the UK to co-invest up to 20% in each of our opportunities which reduces our investors’ risk exposure as, if a borrower was to default, we risk losing our stake first – although, we are proud to say that our investors have never lost a penny!
3. Kuflink’s £100 Minimum Investment Makes P2P Accessible
Getting started with peer-to-peer lending couldn’t be easier, and Kuflink welcomes investments from just £100. Your initial investment may be small but with interest rates up to 7.2%, your returns could be significant!* In comparison with other UK P2P platforms, that often set their minimum investment limits as high as £5,000, the Kuflink model is far more accessible and allows a wider range of people to benefit from peer-to-peer investing.
4. Diversifying Your Investment is Easy
Spreading your investment across different opportunities also diversifies your risk; Kuflink’s IF-ISA and Auto-Invest products make diversification hassle-free. To find out more about these opportunities, visit the Kuflink platform today.
5. Choose from a Portfolio of Short-Term Investments
Kuflink offers an ever-changing portfolio of UK property-backed deals, with terms ranging from 3-12 months. Simply browse our available opportunities, select a deal which suits your preferences and start accumulating interest right away!
Find yourself thinking about investing but never quite getting around to making a decision? Don’t get stuck in ‘paralysis by analysis’ – Forbes warns investors that, all too often, ‘you spend so much time analysing your options that you wind up putting it off and never investing at all. And eventually, the extra cash you set aside gets consumed by bills or unexpected expenses’.
Don’t let your cash get swallowed up by day-to-day expenses when you could earn up to 7.2% interest pa gross* – sign up to the Kuflink platform today or get in touch on 01474 33 44 88 to find out how you can make your money work harder for you!
*Capital is at risk. Past performance is not a guide to future returns. Rate correct as of 19/02/18.
ISA Rates Fall Below Inflation
In response to the news that Cash ISAs are now offering a ‘dismal and depressing’ average return of just 1.03%, which is noticeably lower than the UK’s 2.7% RPI rate, many savers are now in search of a more lucrative option before the new tax year starts in April.
For those looking to achieve a higher rate of return on their savings without losing the tax-free wrapper, an Innovative Finance ISA is an impressive alternative. Kuflink’s IF-ISA offers rates of up to 5.35% interest pa* and, as Kuflink won’t charge you to transfer your existing ISA to us, there has never been a better time to stop watching your money underperform in a traditional Cash ISA!
Why waste your tax-free allowance earning 1% interest?
A traditional Cash ISA earns you around a 1% return, which means that even if you invested your entire £20,000 annual allowance, you will only receive £200 interest at the end of the year. In comparison, investing the same amount of money in to Kuflink’s IF-ISA could earn you up to £1,070 pa* – that’s more than five times the average return!
What’s more, you won’t need to lock your money away for decades to see a great return; Kuflink investors are offered the choice of a 1, 3 or 5-year fixed term ISA, with interest rates ranging from 3.99% to 5.35%. *
Kuflink CEO, Narinder Khattoare, shared his thoughts on the long-running disappointment some ISA account holders have faced – “Savers have put up with many years of sub-par returns and are understandably starting to look elsewhere for better deals. People have realised that there are lots of accounts offering both higher rates and more flexibility than their Cash ISA, and that’s just one of the reasons why HMRC has fully authorised the Kuflink IF-ISA”.
The 2018/19 tax years begins in April, which gives those in search of tax-free interest and flexible terms just enough time to arrange their free ISA transfer to the Kuflink IF-ISA. To get started today, simply sign up to the Kuflink platform.
*Capital is at risk. Rates correct as of 15/02/18, 5.35% pa based on a 5-year fixed-term investment. Past returns are not a guide to future returns. Tax treatment depends on individual circumstances and may be subject to change in future. Please seek independent financial advice.
Buy-to-Let Mortgages: Tips for Would-Be Landlords
This article is a guest post, written by SAM Conveyancing.
Buy to let mortgages are aimed at those wishing to become landlords and, understandably, the process for getting one is different from applying for a residential mortgage even if the conveyancing process is more or less exactly the same.
This article is aimed at those looking to enter this market and aims to set out what’s expected from you and, as importantly, what pitfalls to avoid.
Are you Eligible for a Buy to Let Mortgage?
Your mortgage lender will normally expect the following from you if you’re applying for a buy to let mortgage to buy a property to invest in:
Your rental income exceeds the mortgage
Your deposit is a minimum of 25% of the property’s selling price
Your credit score is ranked as ‘good’ at the very least
You will be aged at most 70 to 75-years-old or under at the end of the mortgage term
You own a residential home of your own
What are the Main Differences between Buy to Let Mortgages and Residential Mortgages?
Buy to let mortgages normally differ in the following ways from residential mortgages:
Interest rates on the mortgage loan are generally higher
Accompanying costs of mortgage valuations and product fees are normally greater
You need to have a minimum 25% deposit
They are normally granted on an ‘interest only’ basis: you aren’t compelled to pay off any of the principle each month but when the term finishes, you’ll have to pay off the whole sum entirely and have to plan for this
You are regarded as a ‘sophisticated investor’ by the Financial Conduct Authority (FCA) which means that you won’t benefit from the consumer protection which accompanies residential mortgages: most products are not FCA-regulated.
How Much Can You Borrow Using a Buy to Let Mortgage?
When calculating how much you can borrow, a prospective lender reviews your application using a variety of methods, involving both computer algorithms and manual inspection.
We’ve listed the main criteria here:
Deposit- As stated previously, this needs to be a minimum of 25% of the selling price and the more you reduce the loan-to-value ratio, the lower – and cheaper – the interest rate you will get.
Rental Income- The higher your projected rental income is adjudged to be, the more mortgage you’re likely to be granted. You can expect a lender to require this income to be 25-30% higher than the value of your required monthly mortgage repayments. Additionally, lenders are required to stress test whether you can still afford repayments if the Bank of England base rate was to rise by 4 to 5%. You therefore need to provide as much evidence as you can that your projected rental income is realistic. Ideally this would come from existing tenants but, failing that, from local letting agents.
Who Should You Approach for a Buy to Let Mortgage?
Naturally you can approach any lender offering this facility. You may wish, however, to consider initially approaching an independent mortgage broker with access to the whole of the market of mortgage products.
There are more than 3,000 mortgage products in existence so it’s well worth having an expert on your side to select the right product for you and one for which there is more likelihood of your application being successful.
Depending on the broker you choose, you may have to pay them directly but they may get their remuneration purely from the lender involved when your mortgage goes ahead.
If you’re looking to secure short-term finance for your next property project, check out Kuflink – an award-winning FCA approved provider of bridging loans.
It is recommended that you seek independent financial advice.
The Importance of Getting your Home Insurance Right
When it comes to buying the right home insurance cover for your needs, many of us get to work on an insurance comparison site and review the different prices and basic coverage details. Then, after a few minutes reading we click buy and often opt for one of the cheapest options.
However, with the Association of British Insurers (ABI) currently estimating that around 20% of homes in the UK are underinsured, it might be time to do a little more research to ensure you’re insured correctly.
“Home insurance is one of those important jobs that people don’t always find the time to do properly, but unfortunately that can become a problem for some when they need to make a claim,” said Wimbledon estate agent, Robert Holmes. “Even if you’ve had the same cover for years, its no guarantee its been the right cover and if you’ve been lucky enough never to make a claim, there’s no way you could know for certain, without a thorough check.”
Give your insurance provider a call
While the information you need about your home insurance cover is probably available online, sometimes it’s just easier to have a chat with someone who knows what they’re talking about. It can also be the quicker and more sensible option, particularly if you think you might have made a mistake or two in the past when arranging your insurance cover.
It can feel frustrating going over old ground with a firm you’ve been with for years. However, it could turn out to be a very worthwhile conversation. Of course, you’ll only discover that by the end of the chat, when you go through your cover and see if you need to make any changes or not.
Even if you don’t need to make any changes, you might have misunderstood a crucial detail relating to the conditions surrounding a potential claim that could have resulted in a problem in the future.
“Time spent checking your home insurance cover is right isn’t a waste of time, even if it turns out your cover is spot on,” said Plaza Estates. “It’s always good to be reassured that everything you’ve arranged is as it needs to be.”
Expect more from your insurer
However, even though its important that you know about and understand your home insurance cover, there is also more the insurance industry can do to help:
Avoid confusion.
Word important policy details clearly.
Ensure policy holders know when they have to and don’t have to pay excess.
Understand exactly what’s covered and what isn’t.
Indeed, Anne Kirk, marketing director for Swinton Insurance said in a recent interview that the insurance industry should be helping consumers – both customers and potential customers – to bridge the knowledge gap so they understand exactly what they need, what’s on offer and what it costs.
If the broader insurance industry can take on that attitude and work to give consumers clearer information and a better understanding of the insurance industry as a whole, along with their own specific policy, then Britons would likely feel more kindly towards insurers than many of them perhaps do at present.
“Taking time to understand your insurance cover is a job everyone should do, but if the industry were more consumer friendly, it would be a job that took less time and more Britons would feel confident about when choosing their insurance, too,” said Andrew Reeves.
This blog post is a guest feature, written by Property Division.
