The idea of building in a National Park might sound pretty daunting unless you are an experienced property developer. Certainly, there is a perception that there will be an awful lot of red tape and no guarantee that planning permission will be granted at all! But for those brave enough to venture down this route, it may be that things aren't as complicated as they sound - and just as elsewhere in the country, even National Parks have a need to provide affordable housing for its residents. Needless to say, if planning permission can be obtained, the finished homes are likely to benefit from beautiful surroundings and potentially breathtaking views.The idea of building in a National Park might sound pretty daunting unless you are an experienced property developer. Certainly, there is a perception that there will be an awful lot of red tape and no guarantee that planning permission will be granted at all! But for those brave enough to venture down this route, it may be that things aren't as complicated as they sound - and just as elsewhere in the country, even National Parks have a need to provide affordable housing for its residents. Needless to say, if planning permission can be obtained, the finished homes are likely to benefit from beautiful surroundings and potentially breathtaking views.

The idea of building in a National Park might sound pretty daunting unless you are an experienced property developer. Certainly, there is a perception that there will be an awful lot of red tape and no guarantee that planning permission will be granted at all! But for those brave enough to venture down this route, it may be that things aren't as complicated as they sound - and just as elsewhere in the country, even National Parks have a need to provide affordable housing for its residents. Needless to say, if planning permission can be obtained, the finished homes are likely to benefit from beautiful surroundings and potentially breathtaking views.

I came across a case of a plot of land in the Brecon Beacons National Park where planning had been previously refused but the purchasers who secured the lot at auction were confident that they would be able to get full planning permission to build a small number of houses.

It's fair to say that planning in National Parks is a careful balancing act. The National Park Authorities have to meet the needs of those who live, visit and work in each National Park and protect these areas for the future. At the same time, they have to make sure the plants, animals, wildlife, landscapes and buildings are not lost to the next generation.

Predictably each National Park Authority has different planning policies and processes - and it's best to check the local rules before embarking on any project. There are now 15 National Parks in England, Wales & Scotland and the best thing to do is to check online at www.nationalparks.org.uk where you can find links to the website of each National Park.

Generally, however, the main points to be taken into consideration will be:

• You should undertake a thorough assessment of any site you wish to develop, to ensure any new buildings will complement the character of the immediate area, including existing buildings, their settings and the spaces between them. It is important not to just look at the site itself, but also to take account of the architecture of buildings and townscape in the immediate vicinity.
  
• You should explore the history of the site they propose to develop as it may be of archaeological importance. The National Park Authority will consult the Historic Environment Record which they hold and maintain.
  
• New buildings should be of an appropriate size, scale, style and design, reflecting the context of their location, so that they fit in with the existing townscape of the immediate area. They should be in harmony with, or complementary to their neighbouring buildings.
  
• Existing buildings of special architectural or historic interest and character and which are redundant, should be retained. The best future for redundant buildings is re-use or restoration so that they can continue to contribute to the character of the area.  Generally speaking any proposals for the demolition of important old buildings will be resisted.
  
• Developers should seek to use traditional local materials. This will vary between the different National Parks but the relevant National Park Authority will be able to suggest the most suitable materials for wall, roofs, windows and doors.
  
• While it is not expected that new buildings should slavishly follow existing old buildings in their design and architecture, they should complement them in the use of materials and design, unless the existing buildings are in themselves of a poor design and out of character with the Conservation Area.
  
• Historic spaces and important views must be preserved. For example views along streets, taking in old buildings, walls and mature trees should be preserved. Green spaces within the Conservation Area should be protected, as should important spaces between buildings.
  
• Owners of existing old buildings within a Conservation Area should seek to retain the features which make their buildings special. For this reason, UPVC windows and doors should be avoided in old buildings. A well-maintained property with proper attention to details and character can enhance its value and contribute to the overall appearance of a Conservation Area.
  
• Existing road frontages, building lines and boundaries should be protected, as these are often critical elements of the existing Townscape character.
  
• Trees make a significant contribution to the character of a Conservation Area. Proposals for new development will be expected to retain mature trees and incorporate them within the proposed development unless an acceptable justification can be made for their removal. Six weeks notice in writing to the Trees and Woodland Team must be given before a tree is lopped, topped or felled.   
                     
• New shop fronts should be sympathetic in their design to the character of the Conservation Area and traditional shop fronts should be retained where appropriate.               

So, the for our developers in the Brecon Beacons, they will have to comply with the local National Parks Authority policies but anyone considering buying or moving into a property that is in a National Park should assess the property to ensure it will meet their needs without making significant alterations or changes which could harm its character and appearance.

According to research by the Halifax a few years ago, the happiest type of home in Britain is the bungalow, which is rated by its occupants as an average of 8.15 out of 10 on a 'happiness' scale.And with this choice of dwellings contining to out-perform houses and flats in the property market, what options does a property developer have to 'add value' to a bungalow?

What is a Bungalow?

In the UK, the definition of a Bungalow is a single story building although in the US and Canada, the word, Bungalow can refer to other types of housing.

Bungalows became popular between the Wars, and very large numbers were built, particularly in coastal resorts with many villages and seaside resorts have large estates of bungalows, usually occupied by retired people. The typical 1930s bungalow is square in plan, with 1960s ones more likely to be oblong. Nearly all are brick built.

Advantages of Bungalows

The most obvious advantage of bungalows is that they are very convenient for the homeowner in that all living areas are on a single story and there are no stairs. So, bungalows are well suited to those who are mobility impaired, e.g. the elderly or those in wheelchairs. They also tend to have good driveways and large gardens.

Bungalows generally offer more privacy than two-story houses. With bungalows, strategically planted trees and shrubs are usually sufficient to block the view of neighbours. Whereas, with two-story houses, the extra height requires much taller trees to accomplish the same, and this may not be practical.

As far as developing is concerned, bungalows are easily modified and extended and they hold their value well. Often they are detached properties in sizeable plots which could be knocked down and replaced with two storey building(s).

The other important consideration affecting the relative attractiveness of bungalows is the changing demographic of our population. Whilst the stock of bungalows has remained more or less constant over past 10 years at around 1.2m, the number of people aged 70 or over in the UK has risenand this group is also expected to see further growth in coming years. Where bungalows remain popular with this group, demand will undoubtedly exceed supply.

On the downside, bungalows are more expensive to construct than two story houses because a larger foundation and roof area is required for the same living area. Hence many housebuilders don't construct them - or at best will build only a small number within a project. The larger foundation will often translate into larger plot size requirements which is why bungalows are typically fully detached from other houses and do not share a common foundation or party wall. There's also a element of snobbery about them and they aren't always the first choice for anyone under the age of 50.

So, when is a bungalow not a bungalow?

When it is a dormer bungalow like the one I visited whilst filming in Plymouth. This was a semi-detached property, with 3 bedrooms - one on the ground floor and the other two occupying the loft space.

There are differant types of dormer - a full dormer is where the conversion takes the roof outwards and the new living space can stretch from one side of the house to the other and from the ridge board (highest point in loft) right out to the eaves. This essentially, at its maximum extends the new floor to occupy the entire footprint of the property. Large dormer extensions generally require flat roofs as pitched roofs would tend to exceed the height of the existing roof.

A dormer loft conversion is where the loft space is turned into living accommodation and dormer windows are put into the roof to bring in light. 

Converting a standard Bunglow into a dormer

Whether it is a full dormer or loft conversion that is being considered, dormers almost always require planning permission since it structurally and visually alters the property. You will also need to comply with building regulations.

When extending the loft to construct a dormer it is essential that a roof's structural stability and strength is not damaged during the building process.

If you are considering a dormer conversion the process will require:

• Loft and house survey and production of floor plans
• Planning and Buildings Regulations Approval
• Building Inspectors Approval
• The actual Construction
  

The steps involved will be to:

1. Firstly you will need to have the property surveyed by a professional and building plans drawn up.

2. Then timber roof supports are installed above and below the existing roof and reinforced steel joists (RSJs) span the base and top of the dormer frame to support the weight of the ceiling and window

3. Next vertical timbers are attached onto existing roof rafters (either side of the roof aperture) to create the dormer sides (dormer walls or cheeks).

4. Since full dormers generally have flat roofs, horizontal timbers run the width of the dormer and join uprights.

5. Insulating cladding is then applied to the frame to make the structure water and weatherproof . Dormer cheeks are often clad with roofing materials such as tile or lead so the extension remains 'in keeping' with existing roof style.

6. Insulating board is intalled to the dormer frame. This maximizes the lofts heat retention capacity.

7. The dormer window is installed.

8. Plaster-boarding of internal wall of dormer over frame and insulation boards. Plastering and skimming - double application of plaster to ready the surface for a final skim and internal decoration.

9. Finally,dormer conversion is decorated with paint or wall paper if required.

To Convert or Not?

Clearly, converting a standard bungalow to a dormer is going to be costly - depending on the extent to which you will be extending the accommodation and so if investment is your aim, then you will need to weigh up the costs of conversion against the eventual resale value of the property. If you own a small bungalow in a popular or traditionally 'expensive' area, then the cost could be well justified. According to the Nationwide, detached bungalows can fetch up to 20% more than a semi-detached house in the same area.

To some buyers one of the major attractions of a bungalow is the opportunity they offer for extending your home, creating both space and profits. But if you do go up into the loft, converting your home into either a chalet bungalow (with Velux windows), or a domer bungalow, you may lose some of the appeal of the single storey.

House Prices will plummet in 2010. Whoops, sorry, I meant house prices will rocket in 2010. Hang on a minute, sorry, No. I mean..That got your attention didn't it! If there's one thing that doesn't change in the property market, it's our fervent desire to try to gauge what the coming months and years have in store for property prices. Its not surprising since our houses are normally the single biggest investment assets that we own. Changes in their value, not only have a direct affect on our personal finances but can alter our overall feeling of financial affluence or otherwise.

So, what do the coming 12 months have in store?

I've just been on BBC Radio 4's Moneybox Programme alongside 4 other property experts and we were all asked that very same question. The show started with them playing clips of the predictions we made in December 2008 when we looked forward to the year that has just gone. Many of the doom-laden predictions from that time simply haven't materialised. One of my fellow broadcasters had predicted a 50% drop in house prices - overall we agreed that things certainly had not been as bad as many had forecast, although finance remained hard to secure, demand for property remained strong with shortages in some areas driving up prices. Developers continued to keep projects on hold for much of the year, again limiting supply. In the final quarter of 2009, there was a steady stream of positive news from the property sale world and overall the year ended with prices around what they had been at the start.

So, what of 2010? The range of predictions from my Radio co-presenters was from drops of 15% to moderate increases of 2-3% which were suggested by the representative from the Royal Institute of Chartered Surveyors. I myself, predicted that prices would be generally level over the coming 12 months, but that some areas and styles of property would be much better placed than others. No matter what the market conditions are, there will always be certain areas and styles of property which are more immune to wild fluctuations than others, and the key to successful investment is to know where and what these properties are.

Which properties perform better in an uncertain market

If the market is slowing, then all the principles of sensible property investing become even more important. The old rule of ?location, location, location' becomes critical. Even during uncertain times, people still need or want to buy property - you just have to make sure that yours stands out to get the best possible price. At the end of the day, well presented, attractive properties that are well located will always be in demand, so if you have purchased well, you will still be able to sell at a fair price.

There is no property that will remain untouched by a general slowdown in the property market, but there are sectors which will be affected more than others. The riskier properties are:

? City centre flats and apartments in large developments where there are hundreds of almost identical properties.

? Properties that are in run down neighbourhoods or have difficult access

? Properties that lack a crucial element for the market that they are aimed at i.e. family homes that have not parking or garden.

? Large family homes with a £1million to £3million price tag.
 
So, the properties which are likely to perform better in a slow market are:

? Individual properties that are one-off's or have particular character and features

? Properties that are located within regeneration zones

? Homes worth more than £3million. Research suggests that these tend to buck the trend as buyers are wealthy overseas investors.

? Properties in traditionally popular areas

? First time buyer level houses - such as terraced properties. Even if there is a % reduction, if the property is valued less it will be less of a slip in absolute terms.

Clearly, there are other factors which will affect the property market in 2010. Its not clear yet what affect the re-introduction of stamp duty on lower priced properties will have and of course, any increase in bank base rates could put downward pressure on prices. However, I think most people would still agree that medium to long term property continues to be a safe haven for your money. Much of the market in 2009 was driven by cash buyers using money from banks and building society accounts that were generating virtually no interest and this will continue over the coming 12 months. I really don't think that the doom mongering predictions will come true. At the end of the day, we live on an island where there is more demand for property than there are properties for sale, and this simple economic equation should give you confidence for the year to come and beyond.

 

Last week I was filming in Devon once again and one of the properties that was featured was in the heart of Salcombe - one of the most popular weekend retreats for sailors and the London jet set. Prices of residential property here are pretty steep for Devon, but the one I visited was a commercial property in one of the main streets.

Advertised as a 'shop', this little unit has no running water or loo and has just about the same footprint as a Ford Transit Van!! So, just about enough room to swing the proverbial cat or more sensibly to house a desk and telephone - but not much more.

The property actually attracted quite abit of interest - most probably because of it's location in one of Salcombe's busy trading streets - and eventually sold for £27,500.

Now, from my reckoning - taking the inner dimensions, this works out at about £6000 per square metre and got me thinking about how this stacks up against other property hotspots. I know that Salcombe can command prices on par with London - but where else do prices reach these heady heights?

Most Expensive Towns in the UK

Post Town/Borough	Region	Price per M2 (£) (based on 2007 Figures
Kensington and Chelsea	Greater London	£8,386
Westminster	Greater London	£6,893
Camden	Greater London	£6,092
Hammersmith and Fulham	Greater London	£5,605
Islington	Greater London	£5,085
Wandsworth	Greater London	£4,871
Richmond upon Thames	Greater London	£4,646
Tower Hamlets	Greater London	£4,387
Southwark	Greater London	£4,315
Lambeth	Greater London	£4,080

Source: Halifax

Average Prices in Major Global Cities (2008)

Ranking	City	Prices(£), per M2
1	London*	9,805
2	New York	7,919
3	Moscow	7,720
4	Paris	6,872
5	Hong Kong	6,262
6	Tokyo	5,900
7	Singapore	5,865
8	Mumbai	5,081
9	Barcelona	4,906
10	Geneva	3,745

Source: Global Property Guide

* The average of London (prime) and London (other luxury) per square metre (sq. m.) prices.

I recently visited a cottage in Cornwall which had a shared access driveway with its neighbour. This is not an uncommon occurence and in most cases, having to share a driveway, pathway or hallway doesn't cause any concern for either party, but even so, it's worth knowing what your rights are.

What types of Shared Access occur?

There are differant situations where shared access is likely to be case.

• Shared access - This is where part of a driveway is shared between two or more properties, or, most commonly, when flat-dwellers share a hallway and stairs.
  
• Access to other properties - This happens when someone needs to reach their property across yours; for example, a barn conversion where the farmer who owned the land wants to retain access to his fields.
• Easements - This is when there is a short cut across your property to a neighbour's house, garage or garden which they may or may not use. Easements can also refer to a neighbour's right to access drainage systems, water supply etc used by them but running under your land.

Ensure that there is a clear formal agreement in place about any easements, shared access or access rights to other properties. If theres is an informal agreement, you will need to get this formalised if either party intends to sell so it's best to get something properly drawn up - You may not mind being the one who always weeds the shared path but a future owner might not be so generous.

If your property has shared access i.e. you share a driveway, footpath or hallway with your neighbour(s), or you are considering buying one that does, then you need know:

• Who owns the access? In the case of our Cornish property where two houses shared the driveway, the ownership was 50:50, but this isn't always the case. The access rights for both or all parties should be written down in the Title Deeds of the property
  
• Whether the access is an established right of way. If so, there are certain obligations placed on you as the owner (see below)
  
• Who is responsible for its upkeep?
  
• You need to know if you will be expected to gravel the lane or clean a lobby, or if you are expected to pay someone else to do this. Ask if there is any legally binding agreement about upkeep and costs. Make sure you know what your part in this deal will be.

If you share any access, you have to be considerate of others' needs and wishes. Nobody is going to object if you weed the shared drive or vacuum the hallway daily but do not expect to be thanked. Do not overstep your rights by changing anything without full consultation with the person with whom you share access. You might think the hedge is too wild or the hallway light-fitting is incredibly ugly - your co-owner might not.

Footpaths and Rights of Way

Footpaths are often ancient ways that have been established as rights of way over hundreds of years. They originated when walking was the most common way for people to get from A to B. Many footpaths run across people's land and sometimes through their gardens - so, anyone stepping off the track is techincally trespassing.

As an owner of a property with a footpath, remember:

• It is up to you to ensure that the way is clearly marked ;
  
• It is illegal to try and block the footpath or divert it without permission ;
  
• It is extremely difficult, time-consuming, sometimes impossible and usually very costly to get a footpath diverted. You have to apply for it to be given an alternative route under the Highways Act (1980).

Having a footpath or right of way running through your property may not necessarily be so bad - but if you are considering buying a property that has such, you are advised to do abit of research. It's worth walking the path yourself and see where it goes to and visiting the property to physically inspect the pathway will give you some clues as to how much of a inconvenience it is likely to be - If the path is badly overgrown, you can almost guarantee it is used infrequently and vice versa.

Any rights of way on to or across your land should be highlighted in the Legal Pack and if you inspect this prior to purchase, you should get a clear idea of what rights you have etc. Even if the current owner says it is an unused right of way or footpath, be prepared for someone to start using it. 

Be aware that a footpath or right-of-way running through your garden, particularly if it is within sight of your home, will devalue the property.

If you are one of those property investors or developers who really like to be hands on and take control of a project right from start to finish, then the thought of taking on someone else's half baked renovation might not be very appealing, but the truth is there are some solid commercial reasons as to why this can be a good decision.

It tends to be the big, old houses that come up for sale as ?partially renovated'. By their very nature, larger properties take longer to restore, cost more and have more potential for problems to occur.either with planning or the renovation itself. And so the chances of someone deciding to ?throw in the trowel' before the project comes to fruition are increased.

The reasons for someone deciding to sell a property part way through the renovation / rebuild could be:
? The project is costing more than anticipated and capital resources have run out. (Please see Martin's 25 most common renovation mistakes and how to avoid them).
? The project has taken longer than anticipated and the existing owner needs to ?move on'.
? The existing owner has run out of enthusiasm, desire or will to complete the project.
? A change in personal circumstances of the existing owner

The latter point is exactly what had happened to a property in Cornwall that I visited recently.  Here a sizeable manor house / small mansion set within grounds had come into the auction room in a partially renovated state. The previous owner had started this hefty renovation project with the idea of creating a home for his elderly parents, but part way through, sadly one of them had passed away and after that the incentive to continue with the build was lost. Having stood vacant for some years, the owner had eventually decided to sell the estate in a half finished state.

So what's the advantage of buying a property that is partially renovated?

Well if you can come to terms with the fact that you haven't had total control over the project from its inception, there are some big positives to buying a property where some of the work has already been done:

1. Often the really messy and difficult work takes place early on in the project. This is when demolition and clearing work is carried out and major structural changes are done. Often this can be the most challenging and costly part of a project - so if you are taking up the reigns once this phase has been completed, you are in a good position.

2. Any planning and / or building regulations approval will have already been sought and achieved, which for many investor / developers is one of the most frustrating parts of a project. Particularly with older buildings (and / or listed buildings) getting the planning permission to carry out the works can mean plenty of consultation, to-ing and fro-ing with the planning office and making compromises. Seeking planning and building regulations approval can also be quite costly. Once approved and the green light is given, the project can start in earnest but it may have taken months or years to reach this point - all time when working capital is tied up.

3. This point about having working capital tied up is often foremost in the minds of investor developers, many of whom seek to turn around properties as quickly as practicably possible - taking their profit and moving onto the next project in order to maximise their total returns. Clearly, taking on a project which has already been started (and may be quite advanced) means that investors can realise their profit much quicker.

4. Given that it is likely that one of the factors listed above has bought about the sale, chances are it will be a ?distressed sale' and therefore an opportunity for savvy investors. The fact that an existing owner has either run out of time, money or willpower to continue with the restoration may mean that he/she is very motivated to sell and could be quite desparate. This means that a sensible approach and offer from a keen investor could mean that they land themselves quite a bargain.

5. Finally, depending on the amount of progress that has been made with the renovation, building materials may have been bought and are already on site. Whilst this raises security issues, it does mean that someone buying the property in this state can ?hit the ground running' and get work underway again quickly.

Of course there are some negatives to taking on someone else's project, and how big they are will depend on your attitude and approach as an investor.

1. The most obvious downside to picking up someone elses work is that planning, layout and design decisions will have already been made - and they may not be your choice. You will need to decide whether or not to ?make do' and continue with someone else's plans or to rejig the project to your satisfaction. If you do decide to re-work things, then you may have to go back to the drawing board, re-apply for planning permission and undo some of the work that has already been done.

2. The standard of workmanship and build quality may not be as you would wish. Once again, if this is the case, you need to think carefully about whether a compromise on your own standards is commercially best or to re-do some of the work to your satisfaction.

3. If the property is an older, big house, then you need to prepare yourself for the fact that there may still be unexpected problems and surprises. You'll have to have the right mindset and if you are taking on an older, period property or listed building you need to be prepared for the fact that they can be unpredictable. Also, the longer a project goes on, sometimes the harder it is to let go. An enthusiastic restoration can become all consuming on a large scale project and its easier to get sucked in. This is all fine as long as investors don't loose sight of their commercial objectives.

If you want to take on a partially renovated property, the advice is to search for one where the previous owner hasn't cut corners, has used all the correct materials and has been true to the property (particularly if it is an older, period building or a listed property) However, it's fair to say that these sort of opportunities don't rear their heads in the auction room very often, so if such a deal comes along that suits your requirements, then grab it.

Good Practice

If you do find yourself taking on a ?old girl' of a property and restoring an large, old period property or listed building then here are some useful contacts.

? Keep down costs by being hands-on and save money by keeping in mind whether VAT is payable on any work
? Contact The Society for the Protection of Ancient Buildings for skills courses: www.spab.org.uk, 020 7377 1644
? The Listed Property Owners' Club is www.lpoc.co.uk, 01795 844939
? Find your local reclamation yard at www.salvo.co.uk, 01225 422300

 

Auctions are generally associated with older, individual properties or land developments and people don't think of them as a place to buy a new build property. Any why would they? Historically, developers have been very successful at selling their new developments (very often Off Plan) and didn't need to enter the auction scene looking for prospective buyers or investors. But times are a changing...

 

During the boom years, new build property could command premiums (not discounts) of 15 - 20% for the fact that these homes are more energy efficient and have modern kitchens and the latest gadgets. Many people like the thought of owning a property that is brand spanking new and so developments were usually sold out before they were finished.

This is clearly no longer the case and you don't have to venture far to come across new build projects that have been stalled due to the credit squeeze. Developers who have enormous amounts of capital tied up in unfinished projects, are strapped for cash and so are now offering huge discounts and incentives to get stock sold and cash flow moving. I've seem discounts of up to 50%+ being offered by developers just to get inventory off their books, but will this continue?

Some developers have resolved an oversupply issue by turning a development into affordable housing for owner-occupiers, with the help of shared ownership or shared-equity schemes.
- Shared ownership allows you to buy between 25 per cent and 75 per cent of a new-build property. You have a mortgage on your share and pay rent on the rest.
- Shared equity arrangements mean you buy 50 per cent to 75 per cent with a mortgage and obtain an interest-free loan from a housing association or developer to cover the remainder.

The number of new homes being started has also declined sharply - with latest figures from NHBC reporting just short of 24,000 new home applications for the past rolling 3 month period. This falls way short of the government target to build 240,000 new homes each year to cope with housing demand.

There's now talk of the construction slowdown being the cause of another house-price spiral with shortages emerging in certain pockets of the country as soon as next year.

So, is this window of opportunity to snap up new build properties at bargain prices, beginning to close?

Back in the auction room, new build property is still available - with property investment clubs and networks also offering ?online auctions' to get unprecedented deals for their members. The bulk purchasing power of such groups of investors can mean that seemingly ridiculously low offers can be put forward for multiple units and developers who need the cash are accepting them.

Read Martin's Top Tips on buying New Build property in the 2009 climate.

Whilst we get our fair share of older, character properties to feature on the show, it is quite rare for us to visit a property with a thatched roof. Many properties with thatched roofs are period cottages and homes that have that ?chocolate box' charm and if located in a rural location with other similar properties, this alone can be quite appealing. With renewed interest in our historic architecture, thatching is once again, becoming more popular, but are houses with thatched roofs property investor / developer fodder - or more trouble than their worth.

What is thatch?

Thatching is the craft of building a roof with dry vegetation such as straw, water reed, sedge, rushes and heather, layering the vegetation so as to shed water away from the inner roof. It is a very old roofing method and has been used in both tropical and temperate climates. Thatch is still employed by builders in developing countries, usually with low-cost, local vegetation. By contrast in some developed countries it is now the choice of well-to-do people who want their home to have a rustic look.

A combination of its compactness and the steep pitch of a thatched roof mean water runs off the roof by dropping from one end of a stem of reed to another. A new thatch will only ever get wet about 1" down from the surface.

The predominant thatching material in use in this country up until the 19th Century was straw but the main thatching materials in use today are water reed, longstraw and combed wheat reed. Sedge, a grass-like plant which grows in wetland areas, is also used extensively in ridging.

In the UK new water reed or straw is generally 12" - 15" thick although some properties with straw roofs have thatch thicker that this. Interestingly, it'ss not the thickness of the thatch, but the pitch of the reed on the roof that is the crucial element in shedding water. Often a thick coat of thatch will have a slacker pitch so isn't necessarily any more effective. The length of the reed or straw also has a role to play in the efficiency of the thatch to shed water.

Generally because of the thickness of the thatch the bottom projects far enough away from the walls of the property to shed the water away from the walls without the need for gutters and downpipes. Water runs off the roof either into a soak-away trench - filled with small stones - or the water just finds its own way of soaking into the ground or drying on the surface of the ground.

The ridge

As the final protective covering along the top of the roof, the purpose of the ridge is twofold: to conceal the last fixing rod and to provide an attractive finish to the roof.

Although a high quality ridge will only need replacing every 12-15 years, a poor quality ridge may only last 5-7 years. Sometimes, however, the ridge may look shabby, whilst still serving its purpose of keeping water out.

In the UK ridges are made from straw or sedge because this is easier to bend over and form a watertight bond at the apex.

Thatched roofs will have felt underneath. This is for 2 reasons;  It keeps the property dry whilst thatching work is taking place and obviates the need for tarpaulins. Second it prevents dust and loose bits of reed/straw falling into the roof space after thatching has been completed.

Life expectancy

Thatch will, of course, need to be replaced, but contrary to popular belief it can last decades - up to 40-50 years depending on the material used, the pitch and aspect of the roof and the quality of the workmanship. A new ridge will need to be fitted every 10-15 years though and at this time the whole roof can be dressed and cleaned and any moss removed.

Towards the end of its life, a thatched roof will require patching; however, regular inspection and maintenance of the thatch can prevent problems such as vermin damage or rot from shortening the lifespan of the roof.

Some thatched roofs will have wire netting on them. This is to protect straw roofs from birds (it is also fitted to ridges for the same reason) and it adds protection from strong winds etc especially in exposed sites.

What's the advantage of a thatched roof?

Apart from its individuality and charm, the main advantage of thatch is that it has quite unique insulating properties meaning that the property stays cosy warm in winter and yet cool in summer. You can't say this about more recently built properties!

If you are considering buying a property with a  thatched roof then its important that you thoroughly check its condition.

Unlike a conventional roof, it is very obvious if a thatched roof is in poor shape, so take time to stand and look at the condition of the thatch:

o If fixings are exposed all over the roof, it indicates that the thatch is either nearing, or has reached the end of its life.

o If gullies are appearing (vertical deep patches of rot), these will require the attention of an experienced thatcher. Similarly, dark wet patches on the eaves close to the wall indicate the thatch is leaking.

o If the roof is covered in heavy moss, it could mean that the thatch is unable to breath and is therefore unable to dry out properly.

There are some common misconceptions about thatched roofs - which tend to put off first time buyers or those people wanting a low maintenance home. Perhaps for this reason, they tend NOT to sell at a premium (despite their obvious ascetic charm) as they're not to everyone's taste and people believe that they will be costly and time consuming to maintain. So what are the facts about thatch.

Facts about Thatch

1. Statistically, homes with thatched roofs are no more likely to catch fire than those with conventional roofs. If you try and set fire to a closed, thick book, you'll find that it won't burn very easily due to the lack of air and compactness of the pages. The same is true of thatch.

2. Thatched homes are not disproportionately expensive to insure - premiums are the lowest they've ever been; incorporating fire preventative measures makes insuring a thatched roof in the UK not much more than a slate or tiled roof.

Listed thatch

About 75% of thatched properties are listed, so this brings extra considerations. Most external or internal repairs or alterations to listed buildings require listed building consent and you should talk to your local Building Conservation Officer before employing a thatcher to carry-out work on the roof.

Fire Precautions

With common sense and diligence, you can still have an open fire or woodburning stove in a thatched property.Statistically, homes with thatched roofs are no more likely to catch fire than those with conventional roofs; however, if a thatched roof does ignite, the results are rapid and spectacular, so owners of properties with thatched roofs should take precautions.

o You can have the thatch fire-retarded - either by being sprayed on completion or the material dipped in a fire retardant before being applied to the roof.
o Around 90% of thatch fires are caused by chimneys - they need to be swept regularly to prevent a build-up of soot deposits.
o The top of the chimney stack must be at least five feet above the thatch, allowing sparks to escape and die-out before they settle on the thatch.
o The chimney should be checked to ensure that the brick or stone work is in good condition and it should have an insulated lining fitted where the stack passes through the thatch.  Having the chimney lined is a sensible precaution.
o When installing a stove, make sure you employ a professional with experience of thatched properties to do the job.
o  Keep any eye on the flue temperature by fitting a flue thermometer and don't burn wet or unseasoned wood, as this will leave greater deposits in the flue.
o Electrical wires in the roof space should be checked by an electrician regularly.
o The roof should be checked for signs of mice or other vermin as they can cause damage to electric wires.
o  Locate smoke alarms and appropriate fire extinguishers throughout the property.
o If contractors are carrying-out work in the roof space, make sure they do not use blow-torches or other equipment which could create sparks. Plumbers for example should only use compression joints.

Uninvited guests

Owners of thatched properties are sometimes not the only ones who appreciate the warmth and beauty of their quintessential English roof - nesting birds, mice, rats and even squirrels can end up making a hole in your pocket as well as your thatch, so owners of thatched roofs should follow some simple guidelines:

o Walk around your property and have a good look at the roof once a week - if pieces of your thatch are sticking out in loose clumps, with holes above, this could indicate that you have guests.
o  If you suspect your roof is playing host to mice, rats or squirrels, contact your thatcher or pest control officer for immediate advice.
o  Wire netting applied all over the roof will prevent birds and vermin from gaining entry and is recommended on combed wheat roofs (long straw) and for water reed roofs if birds and rodents are a persistent problem.
o Birds are particularly fond of nesting under eaves - particularly if the thatch has not been properly fixed in place, or has become loose. To remedy the problem, call in a thatcher before the birds start looking for nesting sites in early spring and encourage birds to nest in your garden, rather than your roof, by providing a variety of nest boxes around your property.
o Watch out for squirrels in autumn and winter - they are particularly fond of hiding their nuts in thatch and also like to sharpen their teeth on the lead flashing around chimneys.
o The worst damage is caused by rats, which gain access to the roof space and then burrow their way out through the thatch. Make life difficult for them by feeding wild birds etc recommended feeders and avoid throwing food waste on your compost heap. Make sure bin bags are stored where rats and foxes cannot gain access to them.

In Summary:

Whilst these quintessentially English roofs obvious appeal and are ascending in popularity after many years of decline, they're not for everyone. Anyone with a thatched roof, or considering buying a property with one needs to be prepared to carry out extra maintenance and be vigilant about fire and pests. That said, they are part of our heritage and should be preserved.

The National Council of Master Thatchers Association (http://www.ncmta.co.uk/) represents county based  Master Thatchers Associations.

House builders in the South West were recycling as far back as the beginning of the 20th Century by using by products of the Cornish Tin industry to manufacture cheap concrete. However, years on these blocks can crumble like sugar lumps if exposed to water. So what is the extent of problem of Mundic Block and should investors give any property constructed from concrete a wide berth?

 Click here to read the full article...

Lets be honest, they are not the most appealing of properties - you can't get excited about the views, character features, versatile accommodation or homeliness of a 3m x 6m box - but lock up garages are BIG business in the rental property sector.

They find their way into the auction rooms on a fairly regular basis and whilst they don't necessarily get the design juices running (and can make my job of presenting the story about them in an interesting way a bit tricky!), they are ideal property investment fodder.

Most recently I covered a story of some investors who had purchased a plot of land which had planning permission for the creation of six standard size and four large size garages. The lot sold for £38,000 with estimated build costs to be a maximum of £45,000 (the estate agent selling the plot had suggested more like £20,000), so for a total outlay of £83,000 plus purchase costs, these investors had secured 10 nice little rental units.

So what is the appeal of lock up garages to a property investor?

Well, firstly, they are probably the lowest maintenance properties that you'll come across. So, from the point of view of a landlord, they are easy pickings. There's no requirement to redecorate or modernise (apart from maybe a few cosmetic repairs and a lick of paint to the door) and you're not going to have tenants ringing you (or your managing agent) at the most inopportune times to say that the boiler has broken!!

Although it is advisable to have a formal, written Tenancy Agreement in place to cover what your tenant can and can't do with the garage, these properties will not fall under the Assured Shorthold Tenancy (AST) rules and your responsibilities as a landlord are minimal.

What is the market for lock up garages?

Aside from the obvious use of a garage to store a motor vehicle, the demand for secure garages stems from lots of different needs such as:
- Storage of classic cars or cars which aren't in everyday usage
- Storage of motorcycles (often shared with other motorcycle users)
- General storage of household goods (it can work out cheaper and less restrictive to rent a garage space for a while than to put furniture and household items into conventional storage units).
- Storage of boats and water sports equipment

If the garage is in a city centre or very close to transport links to employment centres, then:
- Daytime or nightime parking of the tenants main vehicle

What can I expect to pay to buy a lock up garage?

The asking price for garages can vary considerable across the country with sites in prime inner city areas fetching tens of thousands of pounds. At the other end of the scale, you can pick them up for just a few grand.

Since the price will be below the Stamp Duty threshold of £175,000, there will be no Stamp Duty to pay (at least until the end of 2009) and so purchase costs are also much less than with other types of property.

As with any rental investment however, it's not just the purchase price that should be considered, but the eventual yield if the property is going to be rented out. This is where things can get really interesting.

What sort of yields can I expect to see from renting lock up garages?

 Once again, the level of rent that you can charge on a garage will vary with location, with individual units commanding anything from £50 to £300 per calendar month. The desirability of the location and demand for parking or storage space like this in an area will dictate what rent can be achieved.

In the case of our contributors who had bought the plot to build their 10 garages, they were expecting to receive somewhere in the region of £60 per calendar month for each of the 6 standard garages and £80 per calendar month for the 4 larger ones - making a total of £680 per month or £8160 per year. When you divide this by the purchase and build price, it equates to a gross yield of close to 10%. Not bad for a low maintenance, hassle free investment.

That said, I've also witnessed yields over and above 20% per annum for lock up garages in sought after locations - so they really are profitable.

Where can I find garages to buy?

Because of their low value and specific nature, you won't always find garages that are for sale listed with the usual property agents, so you might have to search around to locate them. That said it is worth searching the property portal sites.

And as you might expect, many garages get sold via auction so keep an eye on the auction catalogues and lots in your area of interest.

Many garages are sold privately The internet is a good place with sites like http://www.gumtree.com/ and http://www.loot.com/. Its also worth checking out the Free-Ads newspapers and sites.

Some investors who are looking to buy lock up garages will place ?wanted' adverts and carry out marketing campaigns in there area of interest to attract people who have garages which are unused and which they could buy from them.

If you have a garage and want to rent it out.

There are various websites that you can list your garage (or parking space actually) for rent - with some claiming to have a waiting list of would-be tenants lined up ready to snap up the next available garage in a particular location. A couple to check out are:

http://www.yourparkingspace.com/

http://www.parkonmydrive.net/

http://www.lockupgarages.co.uk/

 

We are all becoming increasingly aware of climate change and global warming and whether you just manage to recycle a few bottles each week, or have become a real ?eco-warrior' -  you would have had to be living on the moon for the last decade to escape the efforts of the government to reduce carbon emissions. Given that it is estimated that up to a quarter of all carbon emissions are as a direct result of us heating, lighting and living in our homes, there is a huge incentive for the Government in reaching is targets for reducing carbon emissions, to target the energy efficiency of the homes we live in.

One such initiative that came into force from 1st May 2008, was the Code For Sustainable Homes initiative. If you have bought or sold a property in the last 12 months or so, then you will have already felt the impact of this Code by the fact that the property you were buying or selling would have had to have an Energy Performance Certificate on it.

As far as new build homes are concerned, the Code for Sustainable Homes has an assessment method for rating and certifying the performance of new homes in terms of their ?environmental friendliness' with a view to encouraging ?continuous improvement in sustainable home building'.

 "The Code for Sustainable Homes provides a comprehensive measure of the sustainability of new homes, ensuring that sustainable homes deliver real improvements in key areas such as carbon dioxide emissions and water use. The Government's ambition for the Code is that it becomes the single national standard for the design and construction of sustainable homes, and that it drives improvements in home building practice."

Since its introduction just over a year ago, all new homes have to have a ?sustainability rating' indicating on a scale of 1-6 how eco-friendly they are (with 6 being the highest and representing a carbon neutral house).

At the same time as all this good stuff on sustainable development has come about, we have been in the midst of a credit crunch with lenders pulling in their horns left, right and centre and refusing mortgages to people and projects who would have previously represented a good risk. So, as anyone who has been refused credit or a mortgage in the past year will tell you, the attitude of banks to lending has become extremely cautious.

But put these 2 factors together - as did some forward thinking developers that I met in Lincolnshire recently - and you could have a formula for being granted credit AND doing the right thing for the environment.

Our contributors planned to convert an old community centre into private residential dwellings, but they were initially declined a mortgage because the bank was unwilling to back a project to develop flats given the uncertain economic situation and property market. However, when the proposals were shown to be the development of a number of eco-friendly starter homes - the bank jumped at the chance to lend and were right behind them. It seems that the fact that the properties were to be built to a Sustainability Rating of 3 -4 clinched the deal.

The Code Rating System

The Code for Sustainable Homes covers nine categories of sustainable design including:

? Energy and CO2 Emissions - With the aim to limit emissions of carbon dioxide (CO2) to the atmosphere arising from the operation of a dwelling and its services.

? Water - With the aim to reduce the consumption of potable water in the home from all sources, including borehole well water, through the use of water efficient fittings, appliances and water recycling systems.

? Materials - With the aim to encourage the use of materials with lower environmental impacts over their lifecycle.

? Surface Water Run-off - With the aim to design housing developments which avoid, reduce and delay the discharge of rainfall to public sewers and watercourses. This will protect watercourses and reduce the risk of localised flooding, pollution and other environmental damage.

? Waste - With the aim to recognise and reward the provision of adequate internal and external storage space for non-recyclable waste and recyclable household waste.

? Pollution - With the aim to reduce global warming from blowing agent emissions that arise from the manufacture, installation, use and disposal of foamed thermal and acoustic insulating materials.

? Heath and Wellbeing - With the aim to improve the quality of life in homes through good day lighting and to reduce the need for energy to light the home.

? Management - With the aim to encourage and reward provision of guidance enabling occupants to understand and operate their home efficiently and make the best use of local facilities.

? Ecology - With the aim to encourage development on land that already has a limited value to wildlife, and discourage the development of ecologically valuable sites.

Minimum Standards

There are some minimum standards which all new build homes must reach and these are set out in the Code for Sustainable Homes Technical Guide. To download the latest version updated May 2009 please click here:

http://www.planningportal.gov.uk/uploads/code_for_sustainable_homes_techguide.pdf

Each of the nine categories listed above includes a number of environmental issues. Each issue is a source of impact on the environment which can be assessed against a performance target and awarded one or more credits. Performance targets are more demanding than the minimum standard needed to satisfy Building Regulations or other legislation. They represent good or best practice, are technically feasible, and can be delivered by the building industry.

Some of the issues have mandatory minimum performance standards because they are so important. For these there is a single mandatory requirement which must be met, irrespective of what Code level rating is sought and the property must meet these requirements even if Level 1 (the lowest) rating is being granted. 

So what does a Sustainability Rating of 3 - 4 actually mean?

Since our contributors where aiming for a minimum of Code Level 3, this would mean:

The home will have to be 25% more energy efficient than one built to the 2006 Building Regulations standards. This could be achieved by:

? Improving the thermal efficiency of the walls, windows, and roof as far as is practically possible (by using more insulation or better glass for example);

? Reducing air permeability to the minimum consistent with health requirements (a certain amount of air ventilation is needed in a home for health reasons);

? Installing a high efficiency condensing boiler;

? Carefully designing the fabric of the home to reduce thermal bridging (thermal bridging allows heat to easily escape between the inner walls and the outer walls of a home);

? Possibly using district heating systems or low and zero carbon technologies such as solar thermal panels or biomass boilers to help heat the hot water.

The home will have to be designed to use no more than about 105 litres of water per person per day. This could be achieved by fitting a number of items such as:

? 6/4 Dual Flush WC;

? Flow Reducing/Aerating taps throughout;

? 6-9 litres per minute shower (note that an average electric shower is about 6/7 litres per minute);

? a smaller, shaped bath - still long enough to lie down in, but less water required to fill it to a level consistent with personal comfort;

? 18ltr maximum volume dishwasher;

? 60ltr maximum volume washing machine.

Other minimum requirements are required for:

? Surface water management - this may mean the provision of soakaways and areas of porous paving;

? Materials - this means a minimum number of materials meeting at least a ?D' grade in the Building Research Establishment's Green Guide (the scale goes from A+ to E);

? Waste management - this means having a site waste management plan in place during the home's construction, and adequate space for waste storage during its use.

To get to Level 3 the builder/developer must do other things to obtain the other points such as:

? Providing drying space (so that tumble dryers need not be used);

? Providing more energy efficient lighting (both internally and externally);

? Providing cycle storage;

? Providing a room that can be easily set up as a home office;

? Reducing the amount of water than runs off the site into the storm drains;

? Using much more environmentally friendly materials;

? Providing recycling capacity either inside or outside the home;

? Enhancing the security of the home;

? Enhancing the sound insulation used in the home.

The Future of New Homes

By 2016, all new build homes will have to have a sustainability rating of 6.

To see what would have to be done to achieve a Code Level 6 (the highest score, click here)

Clearly, the costs of meeting these requirements for a rating of 3 - 4 is greater than a bog standard construction, but the additional investment is likely to pay off - and our Lincoln developers were already assured that the finished product would be in strong demand. So, given that housebuilders and developers (both large and small) are currently having to offer large discounts or other ?sweeteners' to purchasers just to get housing inventory sold, this eco-friendly home strategy could be a shrewd move. Certainly, the fact that the bank were so keen to become involved once they understood the nature of the properties being developed is a sure sign of the possible success of this venture.

Please Note: The Code does not apply in Scotland. From 1 May 2008 a minimum of Code level 3 is required for all new housing promoted or supported by the Welsh Assembly Government or Assembly Government Sponsored Bodies. From 2nd June 2008 Code Level 3 is required for all new self-contained social housing in Northern Ireland.

A beautiful, historic or interesting view from a property has always been one of those features that is hard to put a price on. A fact highlighted by a visit to a fairly non-descript bungalow in Dorset that I visited recently, that had an outstanding view.

In this instance, the property sold at a premium of approx £60,000 because of its views but in many parts of the country a spectacular view costs a lot more. It seems that the ?mark up' for a view can vary quite dramatically depending on the location of the property and in some cases houses with a river frontage or sea view can fetch 50%  more than a house that doesn't enjoy such a sought-after location.

So, how much can you expect to pay for a property with a desirable view?

It seems that data on this variable is quite hard to come by and until County Homesearch carried out a national survey on the level of premium that buyers will pay for the privilege of overlooking a village green or having a sea view it was difficult to gauge what effect a view may have on the asking price of a property.
 
Jonathan Haward, Managing Director of the County Homesearch Company, says, "The survey shows that houses with 'something extra' such as being adjacent to a common or park, overlooking a river or perched above a city can add a great deal of money to the price of a property."

But this uplift can vary, for example, it seems that  there's the comparatively low seven per cent increase in the price tag of a Central London house overlooking a park or garden square compared with one facing other property compared to a 600 per cent hike on a terraced property overlooking the 18th Green of St Andrews Old Course where the British Open Golf championship is played.

Sea Views

Our property in Dorset benefited from a wonderful sea view - and of course it's hardly surprising that the view made the property more valuable. But even amongst sea view properties, there can still be quite a differance on just how much extra pounds on the purchase price will be attributed to the view - and it all depends on whereabouts the property is located.

For example in Dorset and Devon (as in our case), a property benefiting from a 180 degree sea view could fetch up to 40% more than a similar one without.

This is borne out by research from the Halifax/Bank of Scotland, which has analysed the 10-year appreciation of properties in waterside locations. The biggest increase was in Falmouth in Cornwall, where prices rose by 311 per cent in the 10 years to 2006, compared with an average for all UK homes of just 186 per cent in the same period. Four other West Country ports, Penzance, Bideford, Mevagissey and Brixham, were also in the top 10, as were favourites further along the South Coast like Brighton, Whitstable and Hythe.

Devon and Cornwall have a holiday home tradition, so it is natural that prices rise more there as a result, but clearly wherever you have proximity to the water, especially direct views, it will boost prices further.

What about Countryside Views?

Countryside views are also important but, to some extent, are under threat. Government targets to have 10 per cent of the UK's electricity from renewable sources by 2010 make the siting of wind turbines especially critical to a property's view in the future. A few of the 500 turbines in Britain are off-shore but most are in the countryside, and 1,800 more are required in the next three years.

An estate agent in the North Yorkshire moors area, summed up the demand for countryside views; "The classic request is a property with the patchwork of fields and the odd isolated barn in view, but no homes visible, and there are plenty of such views available." This is typical of other rural areas around the country.
And if you are fortunate enough to have property in one of the country's National Parks, then clearly, the strict planning regimes help to preserve views so you are less threatened by other development than other countryside area. Interesting, the biggest protection of views comes from the countryside itself. If you think about it, whilst a property that is nestled into a hillside, miles from anywhere and with no other properties in sight might seem appealing to some, the fact is that lanes are narrow, the nearest motorway might be over an hour's drive away and local facilities and infrastructure are difficult to reach. This tends to deter development.

Urban Views?

Whilst coastal and country views produce high prices based mainly on emotion, the pricing structure for city centre apartments is a little more scientific. Here you can expect to pay a higher price for the same apartment as you move upwards in a block. This is justified by the fact that often the lower floors' views are obstructed by other properties nearby.

Apartment towers have been a popular choice for developers in cities because it satisfies local and central government guidelines for high-density development but, until recently also gives builders and estate agents the scope to push up prices of the higher located units. Penthouses are often large, sometimes over two storeys, and obviously enjoy great views. In today's market where there is a glut of city centre apartments in tower blocks available to sell by developers, it is the lower storey ones that are being offered at seemingly ridiculous discounts. The penthouses have faired better.

How Safe Is Your View?

It's vital to do your homework when buying a house with a view. Unless you've also bought the land you overlook, can you be sure it won't be built over?

And if it could be, how would this affect your enjoyment of the property and the value of your investment? Even if a sprawling estate is unlikely to come between you and your view, is there a possibility that you could end up living in the shadows of, for example, a windfarm?

So it seems there is no exact calculation that you can put on the value of a view from a property - it all depends on the initial location, how protected it might be and of course, the emotional drive of the potential purchaser.

Homes with a view are not only expensive, they also tend to be rare, and may be sold before they make it to the open market.

If there's a view you just can't live without, make yourself known to the estate agents in the area and be ready to move when your perfect riverside / coastal / countryside property comes up - just don't expect it to be cheap..

Empty properties are abit of a sore point for most councils and local authorities. Aside from the fact that they are often the cause of complaint to the council by neighbours and local residents because of their unsightly appearance, they can also attract other anti-social issues such as squatters and criminals.

Councils across the country are keen to put empty properties back into use, especially since in most cities there is a shortage of housing,  and if you check with your local council, you'll probably find that they have an ?Empty Property Strategy' which will outline their initiatives to work with owners to get empty properties habited again.

As property investors / developers, empty properties are good fodder and you may be able to register your interest in receiving details of empty properties that the owners would like to sell, with the local council. They can then ?match make' owners of empty properties who want to offload them, with developers and renovators who would be interested in buying.

According to The Empty Homes Agency, there are an estimated 785,708 empty homes in the UK and enough empty commercial property to create 420,000 new homes so there is a strong incentive to get these dwellings back into circulation.

What is defined as an ?empty property'?

Empty properties are defined as those that have been empty for more than 6 months. This includes dwellings that are:
- empty between changing occupants
- undergoing modernisation, repair or conversion
- awaiting demolition
- repossessed
- waiting probate
- newly completed but not occupied
- owned by a charity
- unoccupied annexes

Any group of bedsits, counted as one dwelling, only count as vacant when all are vacant.

Empty properties considered exempt from this definition are:-

- Second homes, holiday lets, and flats and houses normally occupied by students;
- Properties where the owner is in prison, receiving or giving care,
- Properties where the owner is in the armed or visiting forces;
- Properties that are flood damaged.

However, for you to benefit from the VAT exemptions below, no part of the property must have been lived in during the past 2 years (reduced rate) or 10 years (zero rate).

What are the advantage of buying an empty property to restore?

VAT Exemptions

There are VAT exemptions available on empty properties to encourage restoration and re-use of them. If you renovate or carry out work on a ?normal' building, you will normally be liable to VAT at the standard rate. This applies to materials used and labour costs. However, this can be significantly reduced or eliminated if the property has been empty for over 2 years. The 2 main exemptions are:

- If the property has been empty for 2 years or more - VAT is reduced to 5% on most costs associated with renovating single house dwellings.
- If the property has been empty for 10 years or more - VAT is reduced to zero on the costs of raw materials (either purchased by the owner himself or handed to the builder for use) and the builder can reduce his rate of VAT to 5% for refurbishment work.

Local Authority Grants

Many local authorities will provide grants to owners of empty property to assist them in getting them restored and back into use. The eligibility will vary between different councils but you could find that up to half of the cost of your renovation bill is funded by the council. There will, of course, be a maximum grant and any funding provided will come with terms and conditions - so you should check with the local authority that covers where the property is located for their own rules.

Energy Efficiency Grants

You may also find that you can get a grant for home insulation etc. Contact the Energy Saving Trust on 0800 512012 or visit www.energysavingtrust.org.uk for information on what grants might be available

Interested in buying an empty property to restore?

There are certainly plenty of compelling reasons as to why to seek out empty property to invest in, but before you start, your should first consider these points:

1.  Make sure you are allowed to do what you want to the property. It's all very well having imaginative plans to redesign the property into the house of your dreams but if there are legal restrictions, or if it's a listed property, you may not be allowed to.
2. Work out a proper budget before you start. As with any restoration work, running out of money half way through meaning you have to abandon or postpone the project, somewhat defeats the point!
3. Build the right team of people to help you. Choose architects, builders and legal eagles who you can work with and will help you, not take you for a ride.
4. When commissioning a builder to carry out any renovation work its worth whilemconsidering the following points:
   ? Paying extra for a detailed survey report as this will show you exactly what work is required to bring the property up to standard.
   ? Aim to get at least 3 quotes in writing.
   ? If possible get recommendations from friends or colleagues. This is always preferable as if they have had a good experience with a builder then the chances are you will!
   ? Ask for addresses of properties that the builder has carried out work at; this way you can ?drive-by' these properties to view their workmanship.
   ? Make sure that you make it clear to the builder exactly what work is required, and at what stage they can expect to get interim payments and for how much. Drafting a schedule of works helps to detail exactly what work is required and to what standard.
5. Choose the right building materials for the job. There's a range of alternatives for every eventuality. Some choices are good for your pocket, some are good for the environment and some are just less hassle for your builder.
6. Don't bank on a grant, but do see what's available. Rescuing an empty property meets the objectives of lots of organisations some of them may be prepared to subsidize your costs.
7. Mortgages can be tricky to find if you want to rescue an empty property. The problem is that old wrecks aren't worth much until they are renovated. Many people want to borrow more money for the combined costs of purchase and renovation, than the property is actually worth in its wrecked state. From a lenders point of view this is high risk, because if you default on your payments the property isn't worth enough for them to recover the loan if they repossess the property. Happily, the situation is improving fast.

These are some of the lenders offering mortgage products particularly suited to rescuing empty properties: The Ecology Building Society, Buildstore, The Co-operative Bank and the Norwich and Peterborough Building Society. However, do search on the internet for other recommendations.

Finding empty properties to buy

Aside from registering your interest with the local council as above there are other ways that you can find Empty Properties:

? Local council - Your local council will probably have a list of all the empty properties in their area. Some councils will be happy to let you see the information, but beware that others may not be so open. If they won't disclose the information you could make a written request - you've got a legal right to request it.
? Estate agents - Their shop windows don't want to be cluttered with pictures of wrecks, but that doesn't mean to say that they haven't got some houses in need of rescuing in the back of the filing cabinet. So, make sure you ask to see what's available.
? Online auctions - Auction catalogues are a good place to find empty properties that are for sale. On the web look out for specialist websites that specialise in empty properties.
? Land for sale - More often than not building land for sale has already got a house on it that the seller is inviting you to buy to demolish. Often the house is beyond saving but sometimes it's salvageable.
Of course,  you may personally know of empty properties that you would like to buy and restore. The biggest difficulty is usually finding the owner to negotiate a deal!

A couple of ways that you can trace the owner of an empty property are:

- Ask around. It may be as simple as asking the people who live near by. If you explain to them why you want to know, they will probably be happy to tell you.
- Many properties are registered at the Land Registry. For a small fee you can look at the register and see who the owner is. The HM Land Registry website for England and Wales is: www.landregisteronline.gov.uk, the Registers of Scotland Executive Agency is: www.ros.gov.uk and the Land Registry of Northern Ireland is: www.lrni.gov.uk.

What action may the Council consider if owners of empty properties are not cooperative?

Most local authorities employ an empty property officer whose job it is to get empty properties back in use. The officers work by persuading owners that it's more valuable to have a lived-in property than to have it vacant. They often have good contacts and can help to match up property owners with ready-made schemes and local housing providers. If this is unsuccessful, many have powers to compel owners to do something about the property, these include:

• Compulsory purchase - As a last resort, the local authority has the power to buy a empty property with or without the owner's permission. A CPO is one where the Council takes over the ownership of the property and then, if necessary, undertakes renovation of the property making it suitable for rent. All money paid for renovation work is reclaimed from the rent income and the property can be re-sold.
• Empty Dwelling Management Orders (EDMO's) - An EDMO would enable the local Authority to secure occupation and proper management of privately owned properties that have been unoccupied for at least 6 months, but the Local Authority would itself not need to take over ownership of the property.
  Enforced sale - If the owner has debts to the council secured on the property, the council can require the owner to pay them back. If they don't, the council can force the property's sale in order to get its money.
• Publicly owned empty property - A little known power lurks on our statute books called PRODS - a Public Request to Order Disposal, which can require public authorities to sell buildings they are leaving empty.

I recently visited a property in Bradford that had been purchased at auction but unfortunately when the ?lucky' buyer returned to the property some time after the event, he found that the property had been broken into and various things stolen. This was really unfortunate and made worse by the fact that our contributor was unaware that it had been his responsibility to insure the property from the day of the auction.

So this prompted me to write about your responsibilities as a successful bidder once the gavel falls.

As you might expect me to say, buying property at auction is an exciting and rewarding way of securing your wanted home or investment opportunity. The thrill of actually being in the auction room, bidding against other interested parties until the end gives such a buzz - and even regular auction buyers will say that no matter how many times you do it, there is always that certain exciting feeling.

However, once the dust settles on the auctioneers block, there are some serious things to deal with and anyone contemplating buying a property at auction should make sure that they are 100% prepared in the event of being the highest bidder.

Firstly, prior to the auction, you should:

1. Request the legal / auction pack compiled by the auctioneer on the property. This should be available about 4 weeks before the auction.

The pack will have details of the property, the memorandum of agreement (which is equivalent to the contract), the title documentation, the searches, information about any outstanding planning or environment issues and replies to general enquiries.

2. Make sure that your solicitor studies this pack and advices you accordingly. Have him also look out also for any special conditions, for example, it may say the buyer has to pay the vendor's legal fees.

3.  View the property! I am still amazed at the number of buyers who bid ?blind' and only get to see the property internally once they have become the successful bidder. In some cases, properties can only be seen at block viewings, so you'll get to see possible fellow bidders. If you still like the property recheck with your solicitor that there aren't any legal problems.

4. Get a full survey done. Many properties sold at auction have structural problems, and sometimes these aren't always obvious to the untrained eye.  If it needs work, get a some detailed quotes showing a proper specification of the works to be done and what materials will be used so you can budget for these in the case that you end up buying the property.

5. This is also a good time to get quotes for buildings insurance cover. Be aware that  many insurers will charge more or won't insure at all where there is subsidence or if it going to be unoccupied for a long period after purchase.

6. Get your finance in place if you are going to be taking a mortgage on the property. You will normally have 28 days from the date of the auction to complete, so its no good starting to try and organise your mortgage once you have successfully bid. Mortgage companies, on average, will require 6-8 weeks to get to a point where they can make you a formal mortgage offer.

7. Get your deposit in place. If you are the winning bidder, you will be asked to pay the 10% deposit on the day. Due to Money Laundering regulations, Auctioneers will not accept cash so you will need to check with them (often this is stated in the Auction Catalogue) what methods of payment are acceptable.

Once the gavel falls:

Firstly, you will need to identify yourself to the auctioneer so they know who you are.

You will need to take two forms of identification with you, such as a Driving License or passport and a bank statement or utility bill as proof of address.

You will also need:
o  your cheque book or debit card to pay the 10% deposit (unless the auctioneer has stated otherwise)
o details of your solicitor
o all your banking details.

Remember, if your bid is successful you are legally bound to buy the property and will need to put a down payment deposit there and then of 10% of the property's price.

You will also be required to sign the purchase contract in the sale room so you should feel comfortable that your solicitor has done all the legal checks necessary prior to you bidding.

Completion will take place 28 days later, so on leaving the auction room, you should:

1. Contact your solicitor to inform them that you have been successful and give him/her the date of completion.
2. Contact your mortgage broker or lender to inform them that you have been successful and the date of completion - since you will need to drawn down the loan on this day. They will need details of your solicitor also.
3. Contact your insurance company or broker and activate buildings  and contents insurance (if necessary) so that you are covered straight away
4. Crack open the champagne and enjoy the glory of your purchase!