Who is the service for?
The service has been designed with the following clients in mind:
- British expats seeking to acquire a UK property to use on annual leave and/or, as a future retirement home. View Case Study
Expat 1: Mr L is a British Expat living and working in Hong Kong with 2 children at boarding school in England. He approached House Nouse to find a 5 bedroom property in Malvern, Worcestershire. It needed to be close to the school so that he had a place to stay for visits to see his children on business trips during term and use it as a base for returns to the UK on annual leave. The property had to be large enough to entertain family and friends saving Mr L a lot of driving time dashing round the country to visit them. A choice of 4 properties were drawn up by House Nouse and Mr L is now the proud owner of a 5 bedroom 3 bathroom detached Victorian house on the slopes of the Malvern Hills. House Nouse now holiday let the property in between Mr L's visits.
Expat 2: Mr H is a British Expat living in Wellington, New Zealand. He is looking to return to the UK to retire within 5 years. Mr H was keen to buy a property at today’s price rather than spending more money in 5 years time in anticipation that prices in the UK would continue to escalate. He engaged House Nouse to find and furnish a property in the Cotswolds to be near to where his family live. Mr H planned to holiday let his new acquisition for 5 years, the rental income from which would more than cover the costs of ownership. In the meantime it would also be a place for him and his wife to stay when visiting relatives. House Nouse found a 3 bedroom detached cottage for Mr H in Stow on the Wold. We manage the lets with bookings being generated by a rental agency.
- Entrepreneurs who have recently sold a business and want to reinvest the proceeds in a holiday let in order to take advantage of Capital Gains Tax Rollover Relief.View Case Study
Mr C has recently sold his profitable engineering business in the Midlands . To avoid paying a significant sum of Capital Gains Tax to HMRC he was looking to take advantage of Rollover Relief. As he did not have plans to use the proceeds to acquire another engineering business he decided to buy an alternative qualifying asset , a furnished holiday let. Mr C contacted House Nouse to find a suitable property to buy with a budget of £1m. We managed to buy 2 separate cottages with sea views in the same village in Devon. House Nouse made the arrangements to put in new kitchens and bathrooms to upgrade the accommodation. We have appointed a housekeeper and agency to manage the lets.
- "Empty nester" couples looking to relocate for a lifestyle change and are interested in buying a new home in their favourite area of the country with an existing holiday lettings business attached.View Case Study
Mr & Mrs W lived in Farnham,Surrey and were looking to escape to the country to enjoy an alternative, less frantic lifestyle. They were looking to give up their 2 well paid jobs but were not ready to retire for another 10 years. They were keen to find a business to run from their new home so that they could live off the income generated. Mr & Mrs W’ s house in Surrey had a market value of £1.5m and no mortage. They contacted House Nouse to find an existing holiday lettings complex to buy with accommodation for them on site. House Nouse tracked down a former farm with a house and 4 barn conversions for sale as a going concern in the Yorkshire Dales which had been holiday let for the past 5 years. We carried out a full review of the lettings business before an offer was made. As the furnishings were tired and an upgrade was required, we secured the purchase for Mr & Mrs W at £300k below the asking price . They are loving their new life in Yorkshire.
- City dwelling professionals keen to purchase a week-end bolt hole in the country for your own use initially but would like to keep your options open to holiday let in future.View Case Study
Mr & Mrs B live in North London and both have stressful jobs in the City. They were keen on buying a week-end bolt hole in Suffolk within 2 hours drive of their home. They planned to use the property at least once a month and would consider holiday lets after the first or second year of ownership. With this goal in mind they approached House Nouse to help with selecting a property which would make a popular letting prospect. Mr & Mrs B had drawn up a short list of 3 prospective properties to purchase and they needed our advice to make the best decision. We viewed each property and made our recommendation. They are now the owners of a detached 3 bedroom period cottage in a village with a gastro pub near Woodbridge. Mr & Mrs B will get in touch with us again when they are ready to let.
How can we help?
Competition within the holiday letting market is tough and intensifying. As a result your property must have a strong appeal with potential customers in order that you can maximise occupancy and the rental income. Making the best decision to balance your personal and commercial needs will be critical. Having 25 years first hand experience of buying, owning, managing and letting holiday homes throughout the UK House Nouse has the necessary skills, knowledge and contacts to guide you through the process from start to finish.
We can assist by providing advice on the following tasks.
- Setting a budget
- Identifying the size, type and location of the property to buy within the budget
- Sourcing a mortgage or loan
- Designing and planning for refurbishment and renovations
- Setting prices
- Forecasting occupancy and profits
- Preparing cash flow forecasts
- Marketing and web design
- Administering bookings
How do we work?
Outlined below is an example of the procedures we have used on past assignments. Please note the template and arrangements are not cast in stone and can be tailor made to suit you.
- Step 1Contact Nick House to have a preliminary discussion of your plans and circumstances. This will be on a "no obligation" basis and will be free of charge. email@example.com or 01386 881121.
- Step 2Meeting If you would like me to help you after our initial chat I will arrange to meet with you at a venue of your convenience in the UK. There will be a £100 non-refundable charge for this meeting to cover my travelling time and petrol costs.
- Step 3Proposal Following the meeting I will send you a written proposal with a detailed profile of the property you wish to purchase, a timetable for the search and, confirmation of our fee. The fee will be a fixed amount and will include an allowance for additional travelling expenses incurred. There will be no hidden charges. (Details of Fees)
- Step 4Agreement Should you decide to accept our proposal, I will send you an agreement to sign. This agreement will set out the terms and conditions for carrying out the search and selection over a six month period.
- Step 5Deposit PaymentOnce the agreement is signed a 50% deposit of the fee agreed with you becomes payable. VAT will not be charged.
- Step 6Review Our agreement will be reviewed on expiry. If we have found a property for you the balance of 50% will fall due once your offer has been accepted by the seller. The balance is refundable in the event that the seller subsequently withdraws from the sale or, the searches/survey reveal significant issues which result in you having no option but to pull out. If the search has been unsuccessful the balance is not payable. You can decide whether to renew the agreement for a further 3 months. If you choose to do so, another deposit is payable of £1500.
- Step 7Completion If and when a purchase is completed, a success fee is payable.
- Step 8Property ManagementAnother separate agreement will be entered into should you require House Nouse to manage and let the property for you.
Why use our service?
- Personal attention - The service can be tailor-made to fit your needs. House Nouse is owner managed which means that the level and quality of communication is second to none.
- Save time -You may not live in the UK or are too busy to spend weeks and months hunting for that elusive property.
- Save money - Buying agents are more expensive. Typically they will charge a registration fee of £750 + and a success fee of 1.5% + VAT. For example if you bought a house for £750k using a buying agent you would incur fees amounting to £12,000k + VAT. House Nouse's charges start at £5,950.
- Avoid expensive mistakes - We have an unrivalled insight of what holiday guests want and do not want for their well-earned break.
- Skills, knowledge and experience - We know the holiday rental sector inside out and have many years experience of holiday letting property throughout the UK. This will be in stark contrast to the background of vast majority of buying agents.
- Independent advice - We are not rental agents and will provide you with unbiased advice on the best channels to use to let your property.