Product director Jon Ingram for Energychoices.co.uk states that many consumers across the UK are tightening their budgets and wary about turning on their heating to trim costs this winter.  He added that despite this fact, most do not think about the added costs that could pop ip of repairs are needed for the boiler or if they need to replace it completely.

Ingram added that replacing a boiler can be an expensive investment that can be hard to budget for with Christmas so close.  However, choosing between the holidays and hot water is not a place that you want to find yourself sitting.
“Boiler cover can offer homeowners the peace of mind that their central heating system will be repaired swiftly without having to fork out a huge amount. So if your boiler is looking a bit long in the tooth, we would urge you to compare boiler insurance deals and get covered.

“Remember – you are not obliged to take out cover from your energy supplier and whilst there are some expensive insurance plans out there, with a little research you needn’t pay over the odds.”

Energychoices.co.uk’s top tips for choosing boiler cover:

1. Do you actually need cover? – If you are only renting, it is your landlord’s responsibility to take out boiler insurance and have it repaired if it breaks down. If you own your own home and already have buildings and contents insurance, it is worth checking if your boiler is already covered, or if at least part of the cost is already met in the event of any emergency repairs.

2. Had a boiler fitted recently? – If your boiler is quite new, it may already be covered under warranty. Check the paperwork to see how long you are covered for, otherwise you may end up paying out for boiler cover that you simply don’t need.

3. Check the age of your boiler – Most boiler plans exclude models that are over 15 years old, and any models older than 7 years may have to undergo an inspection. Remember to check that your particular brand is covered as some of the older makes are sometimes excluded.

4. ‘Boiler only’ or ‘full heating system’ cover? – The cheapest boiler insurance policies only cover the cost of the boiler and controls but if you are willing to shell out a little extra you can ensure cover for your entire heating system, including radiators and pipes.

5. What is considered an emergency? – Some insurance providers don’t think that a lack of hot water constitutes an emergency, whilst others will only rush to fix your boiler in the winter months. Make sure you know exactly what your boiler insurance provider considers an emergency so you aren’t left waiting around in the cold for them to get around to fixing your boiler.

6. No claims period – Most new plans have a no-claims period to prevent people signing up on the day their boiler breaks down and then making a claim. The majority of no-claims periods last 30 days so bear in mind that you won’t be covered during that time.

7. Compare suppliers – It is essential to shop around for a policy using a reliable price comparison site as there is a huge variation in prices and features for boiler insurance. Remember: the cheapest cover may not necessarily be the best value so make sure you read the small print. Energychoices.co.uk

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Apparently, the rash of fraudulent deals that became so common during the property boom a few years ago is moving to the buy-to-let market as a source of revenue for the shady dealers, and the result is a lot of unknowing investors who lost their savings (and sometimes their shirts) on those deals.  Basically it’s a case of the lender making a loan under terms based on unrealistic or deliberately falsified amounts of rental or other income.

In some cases the fraud is actually unintentional on the part of the borrower whose name is on the loan documents.  A buyer may think he’s getting a rental property with established tenants and enough guaranteed income to service the mortgage, and applies for a loan on that basis.  However, if he is dealing with dishonest valuers who supply pumped-up figures on income that inflate the property’s value, he soon finds himself in trouble.

In other cases it’s mortgage brokers themselves who manipulate the figures to con lenders into making loans on buy-to-let properties to investors and even to first-time buyers who could not qualify for a home loan, but can get one if the application is presented as a buy-to-let rather than a primary residence.

The counterattack by lending institutions trying to avoid ‘bad’ loans includes cracking down on buyers who turned their residence into a rental without notifying the bank.  However, the problem with that approach, which involves higher interest rates and payments, is that it may mean foreclosing on those who can’t pay the additional amounts, even though the payments were up-to-date at the original terms.

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The comparison website searches and compares over 65 leading brands of car insurance and over 25 of home insurance to help customers choose the right deal.

It is the only comparison site to offer its customers loyalty points, giving them that little bit extra when buying a car or home policy through Tesco Compare.

Commercial Director, Vikki Macleod, said: “Our Clubcard offer is our way of saying thank you to Clubcard customers. In the current economic climate it has never been more important for customers to search for competitive car or home insurance quotes. With this offer there is now the chance to collect 500 points as a welcome bonus.”

How does it work?

The offer couldn’t be simpler. Customers visit the Tesco Compare website, enter their Clubcard number when getting a car or home insurance quote, and the 500 points will then be awarded after the policy is purchased.

Vikki Macleod added: “Our intention is for Tesco Compare to be the comparison site of choice for Tesco customers. We believe the offer is a great way for people to pick up a little something extra when shopping around for a car or home insurance deal.”

Alongside launching the offer, Tesco Compare is focused on helping customers to search for deals so they could save money. In addition to comparing by price, customers can also compare car and home insurance quotes by features and benefits according to what is most important to them.

Tesco Compare’s services don’t stop there: It can also introduce people to comparison services for products including Money, Utilities and Telecoms, and a wider range of insurance products.

Tesco Personal Finance Compare Limited (trading as Tesco Compare) is part of the Tesco Personal Finance Group Limited, the financial services arm of the UK’s number one supermarket chain, which is fully owned by the Tesco Group. Tesco Personal Finance Compare Limited, registered in Scotland No.318925. Interpoint Building, 22 Haymarket Yards, Edinburgh EH12 5BH. Authorised and regulated by the Financial Services Authority.

The Financial Services Authority does not regulate loans, credit cards, telecoms or utilities.

Terms and Conditions of 500 Clubcard Points Offer for Car and Home Insurance.

The Clubcard must be in the policyholder’s name and the Clubcard number must be entered correctly when completing the details on tescocompare.com. Failure to do so will mean the points will not be allocated to the Clubcard holder’s statement. Tesco Compare will notify the policyholder via email when the Clubcard points have been awarded. Please be aware that from purchasing insurance to points being awarded could take up to eight weeks. If the policy is cancelled within two weeks of purchase then no Clubcard points will be awarded. Tesco Compare reserves the right to amend, vary or cancel these terms and conditions or to withdraw this promotion at any time.

Tesco Compare

• Tesco Compare is a comparison site, based in the UK. Since our launch in 2007, our business activities have extended to facilitate the introduction of a wide range of comparison services.
• Our own principal comparison services are for car and home insurance to which we compare over 65 and 25 providers respectively.
• Products compared by third party suppliers include: Money (credit cards, loans, mortgages, current accounts and savings accounts). Insurance (business, life, van, motorbike, travel and health). Utilities (broadband, mobile broadband, home phone, digital TV and gas & electricity). We also provide customers with links to pet and breakdown insurance providers.
• Our aim is to introduce customers to fair prices and deals from a range of leading brands.
• We believe that comparison sites should be about more than just the lowest price so our comprehensive comparison service helps you search and compare a wide range of products and providers by feature as well as price.

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Did you know that as many as one in six of the total adult population has made no plans for how they intend paying for their retirement? As many as 38 per cent of people due to retire in 2011 have had to cancel retirement plans and delay retirement to continue working. The majority of those delaying retirement wanted to retire at 62 but they now have to work on until they are 68.

“Many people have no idea what their pension is likely to provide until shortly before retirement, at which point it is often too late,” says Ros Altmann, Saga Director General. “If they have not saved and cannot continue working, they need other sources of finance.”

So what are your options if you are unable to work and are struggling with increased costs for everything such as petrol, food and utility charges?

“It’s no surprise that people are increasingly relying on their house to help fund their retirement,” continues Altmann.

“Downsizing and releasing equity from homes is a trend that we predict is likely to continue for many years to come.”

Safe Home Income Plans (SHIP), the equity release provider trade body, claimed that equity release sales increased by 4 per cent in the third quarter of 2010, showing an increase from £196.7 million to £205 million.

The average amount of equity released by those taking up an equity release plan is £46,754.

With the majority of us all able to look forward to living longer than previous generations, how to pay for the extra years in retirement can be worrying, which is why many people opt for independent financial advice to ensure that they are doing the right thing with their money.

But with longer lifespans and less generous private and public pensions, equity release looks likely to play an increasingly large part in the retirement plans of Brits, as people look for help with care, adapting homes for the elderly, as well as for money to help pay for retirement in general.

“Over the past twelve months, we have seen a growing acceptance of equity release as a retirement planning option amongst consumers, advisers and the Government,” says Andrea Rozario, Director General of SHIP, the equity release trade body.

“With longevity increasing and the Government making it clear that the state will not be able to provide all encompassing retirement funding, other options must be considered.”

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House Valuations or surveys are an all-over health check on a property, which gives an indication as to its exact current structural state and if the correct survey is purchased, it will also give an approximation of the value.

Save time and money

At the time when a property is about to be sold a Property valuation is most commonly carried out, and can often save the potential buyer time and money if there are any major structural problems, as what is revealed from a survey or house valuation can bring about a change in the sale price. A survey should always be performed before any contracts are exchanged on the property.

There are many occasions when a property valuation or survey will make the buyer decide that they do not want to go ahead and purchase the property after all. The basic property valuation or survey will be performed on all parts of the property which the surveyor access, so the state of the floors underneath, carpets etc. will not be monitored. Nor will the water supply or wiring within the house influence the survey report, although their condition will be commented on.

Three types of survey

There are traditionally three types of survey in the UK -a house valuation, a homebuyers report or a structural survey.

Mortgage valuation report

The mortgage valuation report is the simplest in that it does exactly what it says on the can –a very simple property valuation giving an estimate of the value of a house, this is commonly carried out for the lender.

Homebuyers report

The next form of house valuation is the homebuyers report. This is a more extensive survey carried out on behalf of the prospective purchaser this is in fact a visual survey of the overall condition of the property. The final and most expensive property valuation is the full structural survey, this is a much more detailed report that could actually involve other investigations or specialist reports too, such as damp and timber infestation -these would generally be applicable to older properties- to determine the condition of the property.

Building Survey

The surveyor, as part of a full property valuation, will carry out a structural survey to assess the condition of the house. The report of the building survey details the surveyors findings. Although this report can run over 20 pages, it is worth paying attention to the liability clauses – don’t assume that because you commissioned the property valuation survey that you can sue the surveyor if the house collapses the day you move in.

Often the surveyor will only list visible defects dependant upon which house valuation or survey that you have paid for. It is not their job to check behind every cupboard and lift up every carpet. The surveyor will not be able to give you a definitive answer to whether you should buy the house, the property valuation is only a guide and you specifically need to ask for the house or property valuation as an aside to the building survey. Remember that often a buyer may view a defect in a different light. Surveyors will attempt to list every defect they can find when commissioned to perform a property valuation, and even the best houses may seem to be riddled with faults judging by the size of report, so do take into account that the majority of houses will have some defects.

The main reason for the survey is to give you a priced list of minor and serious work needed. The cost of work will tend towards the pessimistic side. Use this list to re-approach the seller and negotiate a lower price. If the house price plus the cost of the necessary work is higher than the market value of the property, you should seriously consider whether the house is worth buying.

Article courtesy of www.direct-valuations.com

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Printed land certificates have been done away with in lieu of Online versions in both Wales and England, making it easier than ever for crooks to alter ownership certificates of land and titles to properties. Too often by the time an owner discovers something is awry, it is too late. The identity theft is finished.

Patrick McCloy, Solicitor, said, “Already this year I have seen four cases cross my desk. This is a significant and expanding problem.”

The first step a crook takes is to alter the address of correspondence, allowing him or her to either sell the property or take out a mortgage on it. Those most vulnerable include homeowners living abroad, the elderly, especially in nursing homes, and absentee landlords. Since these particular types of owners seldom have mortgages they are juicier targets for the criminals.

Simon and Christine Rowntree were shocked when in 2009 they had decided to trade down from their big house in Birmingham to a smaller place. The Land Registry informed them they were in fact not the owners of their home and could not sell it.

“We owned our place completely and without a mortgage,” Christine said. The owner of property in Manchester, Trevor Guy, was victim when others took out a £100million mortgage on his property.

Although Guy went to the court, the court reiterated that he was the owner, but that he was liable for the entire debt of the mortgage.

The website for Land Registry provides advice and the promise to reimburse those who have fallen prey, but without legal guarantee. They indicate that attempts to counter cases of identity theft and fraud have foiled about £20million in damages. In the end, any homeowner must be on their toes.

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Viewings definitely the most time consuming part of the search, particularly when looking for properties to rent in outer London. It’s a big city and travel times can be long during rush hour. So, prepare as much as possible before actually going out to see those available houses and flats to let. With so many properties to rent, it makes sense to limit your search to a few areas of the city. There are several points you should keep in mind when deciding on a location. You might already know where you would like to live – perhaps you grew up in the area or you have friends and family nearby. If you’re new to London and are looking for a property to rent for the first time here, then it is worth taking a few more things into consideration.

The very first thing to focus on should be the size of the flat or house for rent you are looking for. Decide on the number of bedrooms you need as a minimum and whether you are looking for other factors such as a garden or a separate dining room. Start doing some research on the price you can expect to pay and be realistic about what you can afford. If prices are too high in your first choice of location then cast your net a bit wider. With your basic requirements, area and price established you can then further narrow your search for properties to rent in London by deciding on the type, style and furnishing you are looking for before contacting letting agents and private landlords to arrange viewings.

Of course you may never be lucky enough to find a property to rent in London which exactly matches all your wishes, but having a clear picture in your mind and deciding on the area and price before arranging viewings will help you to prevent wasted time, effort and money.

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