Why teamworking is the lifeblood of Scottish Hockey
By Barry Cawte, CEO of Scottish Hockey
Carl Warden gives us the latest on markets and mortgages
It was inevitable that the fall-out from the mini budget and its controversial tax cuts would manifest itself in the housing and mortgage markets because the cost and availability of credit is a significant driver of the market.
Therefore, it comes as no big surprise to see mortgage lenders suspend many rates and deals as they gather their breath before attempting to reprice the market.
It goes without saying that any big jump in the mortgage rate is a major concern for those who are buying houses at the moment. But, if you like the house, you can afford it and are confident you can continue to afford it, then there is no reason not to go ahead with your purchase.
What is fairly certain is that we can wave goodbye to the historically low interest rates that we have grown used to and brace ourselves for a return to the higher levels we last saw in 2012.
There’s also been much speculation that we could be facing a housing market crash. But while prices could fall over the longer term, there is no evidence that they will collapse like they did during the global financial crisis of 2007/8. The market in Scotland is still functioning well despite the uncertainty. I am seeing a small number of buyers pulling out of deals as we wait for this immediate uncertainty to pass, but I don’t see this continuing and especially so at the top end of the market.
From a Scottish perspective, it will be interesting to see if the Cabinet Secretary for Finance, Kate Forbes MSP, replicates Kwasi Kwarteng’s Stamp Duty cuts for the Land & Buildings Transaction Tax (LBTT) bands in Scotland.
On September 23, the UK Government announced a permanent cut to stamp duty in a bid to boost economic growth. The announcement means that in England no stamp duty will be paid on the first £250,000 of any property, up from £125,000 previously.
For first-time buyers in England the threshold is now £425,000, up from £300,000. The maximum value of a property on which first-time buyers’ relief can be claimed will also rise from £500,000 to £625,000.
While first-time buyers in Scotland do not pay LBTT on property purchases up to £175,000, a 2% LBTT rate is paid on property valued between £145,001 and £250,000.
It would be a big worry for the property sector should the Scottish Government not bring us more into line with the rest of the UK. A reduction in LBTT would go a long way to giving the Scottish housing market a boost, particularly for the lower bands, as we navigate this period of economic uncertainty.
For advice on your house move, or for a free market appraisal contact Carl Warden, Head of Estate Agency on 01738 621121 or email carl.warden@bellingram.co.uk
Our people
Carl Warden
Partner
Estate Agency
Tel: 01738 621 121
About: Carl heads up the Residential Estate Agency division for the company and has a proven track record within the Scottish property sector. He has been marketing property in the Perth and Kinross area for over 35 years and has vast and detailed practical experience and knowledge of selling prime residential property: from period homes to contemporary developments. Carl is well known in the local area, having developed excellent relationships with buyers and sellers. His wider role involves looking after and supporting our Agency teams and colleagues in Oban, Beauly, Ayr and Forfar. Interests: Estate Agency, Market Valuation, Negotiation.
Article posted on 03/10/2022
The Property Expert: Portsonachan lodges hit the market
Scotland’s tourism industry is thriving and no more so than the country’s stunning west coast. One particular sleepy village near the banks of Loch Awe is pulling in visitors from across the globe for its picturesque location, and outdoor credentials including ample walking and cycling trails and water sports. Located just a short drive from Dalmally in the county of Argyll and Bute, Portsonachan is home to the impressive Portsonachan hotel and its nearby chalets where our Oban Estate Agents are marketing nine beautifully presented lodges.
These 1–4-bedroom lodges present an opportunity to purchase a holiday home for leisurely excursions with family and friends, or to run as a successful holiday let business. Here is a flavour of the properties on the market.
Stirling Lodge
Stirling Lodge at Portsonachan offers buyers an opportunity to acquire a beautifully presented three-bedroom wooden chalet, complete with built in sauna and external hot tub. With its modern open plan kitchen, stylish bathroom and spacious bedrooms, the lodge is perfect for entertaining family and friends. Stunning views across one of Scotland’s most picturesque locations will be sure to impress.
Offers over £325,000.
See more: Stirling Lodge, Portsonachan, Dalmally, PA33 1BJ | Bell Ingram
Carrick Lodge
This three-bedroom lodge has many of the outstanding features as Stirling Lodge, including built-in sauna and hot tub. Set just a little further back from the loch, Carrick Lodge enjoys a pleasant tree-lined vista, enjoyed from its expansive balcony, the perfect place to sit and take in the glorious surroundings.
Offers over £300,000.
See more: Carrick Lodge, Portsonachan, Dalmally, PA33 1BJ | Bell Ingram
Eilean Lodge
This two-storey semi-detached wooden chalet offers two ground floor bedrooms complimented by a spacious upstairs living area, with a balcony that enjoys far reaching views across to Loch Awe. The downstairs decking area is home to a welcoming hot tub.
Offers over £215,000
See more: Eilean Donan Lodge, Portsonachan, Dalmally, PA33 1BJ | Bell Ingram
Duart Lodge
The smallest, yet one of the most popular lodges available, this semi-detached one-bedroom lodge is the perfect couples’ retreat. Offering a blend of rustic and modern living, the kitchen is traditional farmhouse style, while the open plan living space provides ample space to sit and unwind. A large decking looks out across the gardens towards Loch Awe.
Offers over £195,000
See more: Duart Lodge, Portsonachan, Dalmally, PA33 1BJ | Bell Ingram
For more information on the lodges, or our Estate Agency service on the West Coast contact our Senior Associate Andrew Fuller on 01631 567 791, or email andrew.fuller@bellingram.co.uk
Our people
Andrew Fuller
Senior Associate
Estate Agency
Tel: 01631 566 122
About: Andrew heads up the Estate Agency team in our Oban office and is focused on ensuring his clients have a first-class experience when they list their property with Bell Ingram. A resident of the Isle of Mull, Andrew is very well known across the West Coast of Scotland and has developed an excellent reputation for marketing prime residential property, including plots, crofts, island homes and lifestyle opportunities. Andrew joined Bell Ingram following almost 15 years managing several high-level private and commercial development projects in the United Arab Emirates. Interests: Residential Estate Agency, Rural Property Sales.
Article posted on 27/09/2022
Achieving record results for our clients in a complex property market
Despite the uncertainties surrounding the Covid-19 crisis and ever-changing guidelines for the industry, Bell Ingram’s property team has enjoyed huge success over the last two years.
Repeated lockdowns have seen us all spend more time in our homes, which has really focussed the mind of buyers on what they truly want and need from their spaces, and as a result we are seeing unprecedented demand for rural property with ample green space as well as additional living space.
Such high demand coupled with a shortage of stock has driven up valuations with residential properties achieving anything between 5% to 30% over the asking price, and I expect this upward trend to continue into 2022.
The land and farm sales markets are also highly competitive, and our well-placed agents have experienced great results in these markets. As rural business experts, Bell Ingram agents understand the rural market and are able to take a creative approach to selling to achieve the best results for our clients.
Being part of a firm that includes, valuations, land management, forestry, mapping and planning pays dividends. For example, our Perthshire agents recently achieved 25% over the asking price for a farming client by separating land for forestry and securing permissions for property development.
Meanwhile, a recent large estate sale achieved 13.5% over the asking price of £1.6million following 173 viewings and 50 offers for our client.
With so much opportunity in the market currently, now is a favourable time to sell. But for buyers it is not always the ones with deepest pockets who are coming out on top! Buyers who have all their ducks in a row, and who are outwith chains, are often more successful than the highest bidder in securing their dream home.
Because we ask our buyers the right questions, we always secure the best deal for our clients. We would therefore recommend that anyone who is thinking of selling their rural property to get in touch with our agents as soon as possible to discuss your options.
If you are considering selling your home, farm or estate, our dedicated team is on hand to provide the expert advice you need. Contact Carl Warden on 01738 621121 or email carl.warden@bellingram.co.uk.
Article posted on 16/02/2022
Five of the best lifestyle opportunities on the market
Repeated lockdowns have seen us all spend more time in our homes, which has really focussed the mind of buyers on what they truly want from their homes and living environments. For some, it has even thrown into question the type of lifestyle they wish to lead and has led to some downing tools and upping sticks entirely in the search for a more rural way of life.
At Bell Ingram we have seen the increase for demand of rural properties which offer a new business and lifestyle opportunity. Here we round up five of the best lifestyle opportunities on the market with Bell Ingram.
1. Barmore Farm, Tarbert
This well established and profitable holiday business offers buyers an opportunity to acquire a beautifully presented, listed Victorian Steading, sympathetically converted to a selection of unique holiday let cottages, each offering a blend of traditional and contemporary living.
Offers over £1,100,000.2. Roseview, Oban
Situated in a wonderful rural location on the fringe of the ever-popular coastal town of Oban, Roseview Caravan Park is set in approximately 4.89 acres of land and offers buyers an opportunity to acquire a well-established tourist destination, perfect for those looking for a lifestyle change or tourism investment.
Offers over £795,000.
3. Ornum House, Beauly
Ornum House is a very well presented property which is brought to the market alongside two popular self-catering cottages. The house is currently run as a successful Bed & Breakfast business and the overall package offers the purchaser the opportunity to live in a beautiful, quiet location and have a business on site.
Offers over £600,000.
4. Coullabus Farmhouse, Isle of Islay
With its rural setting on the picturesque island of Islay, Coullabus Farm offers a superb opportunity for those looking to adopt a lifestyle change and reap the benefits of a country island life.
Previously operated as an operational island dairy farm, the main farmhouse property now offers family accommodation over two levels, with an adjacent tastefully converted detached cottage giving opportunity for self-catering accommodation with scope for significant secondary income.
Offers over £595,000.
5. Ardnamurchan Natural History Centre, Acharacle
The Ardnamurchan Natural History Centre offers buyers an opportunity to acquire a thriving business with three identifiable income streams – retail, tearoom and exhibition. The property is set in an enviable rural location on the West Coast of Scotland, a wonderfully scenic location, popular with tourists visiting the region.
Offers over £525,000.
Article posted on 07/02/2022
Thinking of buying a croft? It’s important to do your homework and consult an expert
TV programmes like Amanda Owen’s ‘Our Yorkshire Farm’ and Ben Fogle’s ‘New Lives in the Wild’ have tapped into a national obsession with self-sufficient lifestyles ‘off-grid’ living.
So much so that even during lockdown, farm and crofting properties are generating a high level of enquiries as soon as they come onto the market.
But for those seeking the rural idyll, does the romantic notion of swapping city life for a sheep farm in the Dales or living in a white-washed croft house on a west coast bay live up to the reality?
Bell Ingram’s resident crofting expert Ian Blois says: “It can do, but it’s not always straightforward and prospective crofters need to be aware of a number of points when buying a property which could be restricted by crofting legislation.”
He continues: “Increased interest in crofting properties during the Covid lockdown has been prompted partly by lower property prices and partly by a genuine consideration of escaping to the country and leaving behind the stresses of city living. Working from home is now a reality for many people and with good broadband, connectivity to a business or employment anywhere in the world is now possible amidst the freedom and slower lifestyle of the Highlands.
Based in Bell Ingram’s Beauly office, Ian has worked with Estate Agency colleagues advising potential crofters for over ten years and reckons that a working knowledge of crofting legislation almost comes as standard if you are a rural professional living and working in the Highlands.
He adds: “While the rules and regulations around crofting aren’t particularly complicated, like most things of this nature there are certainly a few pitfalls that could trap the unwary, and it’s sensible to do your homework and consult an expert.”
Here’s a number of points you might want to consider if you are thinking of buying a croft:
What is a croft?
Crofting is a system of landholding which is unique to Scotland and is an integral part of life in the Highlands & Islands. A croft is legally any small land holding, which is registered as a croft by the Crofting Commisson and therefore subject to crofting legislation. The croft may or may not have a house or farm buildings associated with it and there is no size limit. Currently Bell Ingram have a number of crofts for sale ranging from a 1.6acre croft near Oban to 127 acres of farmland near Lairg in Sutherland.
Where are crofts located?
There are 21,186 crofts entered on the Crofting Commission’s Register of Crofts (ROC) of which 15,137 are tenanted and the remainder are owned. These crofts are located within the traditional Crofting Counties of Argyll, Caithness, Inverness, Ross & Cromarty, Sutherland, Orkney and Shetland, or in one of the newly designated crofting areas – Arran, Bute, Greater and Little Cumbrae, Moray.
How much does it cost to buy a croft?
This depends of a number of factors, including location, land quality and whether the sale includes a croft house. For example, a croft (with a croft house) in a desirable area like the Black Isle with good transport links to Inverness is likely to fetch a higher price than a property without a croft house in a more remote location.
What is the legal position if I buy a croft?
There are two possible scenarios when you buy a croft and these should be apparent in the sales particulars. The croft may be classed as owner-occupied, in which case you would be buying the land and the crofting tenancy, which is the right to farm the land. Or, in some cases, the ownership of the land is not part of the sale and you would be buying the assignation or tenancy of the croft, which is just the right to farm the land.
What are my rights and responsibilities if I buy a croft?
Owning a croft is not the same as owning an ordinary regular home or farm because the use of the land is regulated by the Crofting Acts. Whether you become an owner-occupier or just the tenant, in both cases you must comply with certain duties imposed on you by the crofting legislation. These are:
#1 A duty to be a resident on, or within 32 kilometres of, the croft.
#2 A duty not to misuse or neglect the croft.
#3 A duty to cultivate and maintain the croft or to put it to another purposeful use.
If any of these rules are breached, the Crofting Commission have the statutory powers to terminate the tenancy and allocate the croft to someone considered to be more suitable. This applies even if you own the croft, so it is important that prospective buyers understand the commitment they are making.
Can I buy a croft house without any land?
A “croft” house is not necessarily a croft. If a house is being sold without land, it is unlikely to be subject to crofting legislation which applies mainly to land. In this case, normal property laws apply and you can use it as a second home or let it out as a holiday cottage.
If a registered croft is being sold with a house, the house and garden has often been de-crofted which means that while the land remains under crofting tenure, the house is no longer subject to crofting legislation. This can be important if the buyer needs a mortgage as lenders will only offer financial assistance if the house is free of crofting legislation.
Making an Offer
If you are serious about buying a croft, speak to the selling agent and your solicitor to make sure you are fully aware of what it will mean to become a crofter. It is usual to make a formal offer subject to getting approval from the Crofting Commission. This means that if your offer is accepted, you will then make an application to the Crofting Commission to be approved as the tenant of the property. This is likely to be successful as long as you intend to live permanently on the croft or at least within 19 miles of it and to actively farm the land. Once approved, your offer to buy will be completed.
Still Confused?
If you have found you dream house on an internet search and you find that crofting is mentioned, please do not be discouraged. Just give us ring at either our Beauly or Oban office and someone will be pleased to answer all your questions. It’s not as complicated as it sounds.
Useful links:
Crofting Commission www.crofting.scotland.gov.uk
Citizen’s Advice www.citizensadvice.org.uk
Shelter Scotland www.scotland.shelter.org.uk
Our people
Ian Blois
Consultant
Rural Land Management
Tel: 01463 717 799
About: Ian is a highly experienced Land Agent whose remit includes negotiating temporary access agreements and compensation claims for private clients, giving farm advice and submitting grant applications, and providing land agency services to utility companies and other government bodies. Ian is Bell Ingram's resident crofting expert. Interests: Pipelines & Utilities, Private Estate Management, Sporting Management, Rural Land Management.