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Things to Know While Selling a Home in 2022

ABC Staff
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Things to Know While Selling a Home in 2022

The property market has been on a roller coaster for the past two years, presenting obstacles as well as possibilities for both buyers and sellers. For some, the open marketplace has resulted in many offers, competitive bids, and successful transactions. Some, however, have been dissatisfied since they have been unable to sell their home.

As well-known estate agents in Orpington, we’re offering some advice to sellers who already are present in the market. It’s critical to make the best of what’s going on in the local real estate market.

First impressions are crucial:

Pictures of your house play an important role in its saleability and are the first step in getting potential buyers to schedule a showing, especially for those who start their search online.

If your home is already on the market for a while, then you may also want to think about having new photos taken to showcase the seasons and avoid looking obsolete. Asking your realtor to modify the order of the photographs online is an easy method to achieve this.

Exterior photos of your home might work as well as the main photo. However, if your property includes elements that can be used seasonally, you may choose to have a warm lounge room during winter and a big garden in the summer.

Dress to please:

Well-presented properties can generate more attention. If your property is unfurnished, try having the rooms outfitted such that prospective buyers can get a sense of the scale of the bedrooms and how their own belongings might fit in.

If you do choose to decorate your house, make sure the furniture and furnishings match the design of your home as well as the sort of lifestyle you lead. Home sellers follow the basic rule of keeping things simple and avoiding clutter.

Make sure that the pricing is reasonable:

It’s critical to have your house evaluated and advertised at the correct price if you want to sell it. Well-priced houses sell faster and attract more competitive offers; nevertheless, aggressive pricing might turn homebuyers, particularly if they consider many houses at the same price point.

Some sellers may utilise the ‘offers in excess of…’ price tag, which is a more frequent strategy throughout the Scottish real estate market. This form of marketing a property is not for everyone, and it might be perplexing to some purchasers, but when done right, it can generate ambitious sealed bids and deliver excellent results for you.

Calculating a property’s fair market value is not a precise science. If you own a bigger yard, have more floor area, or have constructed an addition, it might be fair to request a premium price. The amount of noise in the surroundings and accessibility to decent schools, shopping, transportation, healthcare, and other important amenities are additional factors.

House Prices in the United Kingdom:

When the lockdown regulations were first relaxed, estate brokers around the UK saw a surge in demand for houses outside of major cities, as individuals grew acclimated to remote working and sought more space and gardens.

A further decline in the Base Rate, the continuance of government programmes like Help to Buy, and the exceptional economic stimulus all fueled the market.

According to Halifax and Nationwide reports, costs increased by up to 10% in 2021. This might be due to a shortage of supply or a “scarcity” factor driving up pricing. The prolonged Stamp Duty Holiday aided matters considerably. We anticipate an ever-increasing need for property as 2022 advances. There are also significant inflationary pressures, which might lead to interest rate hikes by the Bank of England.

How much increase happens depends on how quickly prices increase (and hence need to be managed), but it wouldn’t be surprising to see the Base Rate climb somewhere about 0.75 and 1% towards the end of the year. This, in turn, might weaken the market by increasing mortgage costs.

Uncertainties in the market:

The government’s objectives were obviously focused on containing the consequences of COVID-19 for the most of 2020 and 2021, as the epidemic dominated the headlines. However, now that Coronavirus has been contained, the problem of Brexit may be revisited — particularly while supply chain concerns continue to affect a number of vital businesses.

Despite the uncertainties that Brexit presents, the market could still gain traction given interest rates are at record lows, albeit this could take some time to trickle through.

If you want to sell your house this year, now would be the perfect time to take advantage of these market hacks.

Keeping the Costs of a Funeral Down in the UK

ABC Staff
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Keeping the Costs of a Funeral Down in the UK

There has been a much-vaunted cost of living crisis in the UK in recent times with increased prices associated with a raft of goods and services. In addition, there is something of a cost of death – or, at least, funeral – crisis that many people face. This is because the cost associated with a typical funeral in the UK now exceeds well over £4,000 and that figure is rising steadily. As such, many people would like to keep the costs of their funeral down whether they are planning their own or arranging one for a recently departed family member. What are the best ways to keep funeral costs as low as possible?

Plan In Advance

Burial and cremation payment plans are available at today’s prices. If you opt for one, then many funeral planning services will allow you to spread the cost of your funeral up into bite-sized instalments. This makes budgeting easier, of course, but it also means you will pay for the funeral at what the cost would be right now. As funeral costs are rising, on average, this could save you a tidy sum in the long run.

Book a Cremation

Simply put, cremation payment plans are cheaper than burial ones. Although many of the same costs are involved with both types of services, you won’t need to pay for a burial plot if you book a cremation. According to Newrest Funerals, which offers burial and cremation payment plans, professional pallbearers are advisable for burials but, with a cremation, you can opt to do this from a group drawn from the mourners. As such, you’ll spend less on funeral directors’ fees and your plan will cost less as a result.

Do Your Own Catering

The wake following a funeral service can be one of the costlier elements. Assuming you want to stage one, there is no need to book a function room and outside caterers. Inviting people into your home for a cup of tea and a sandwich is perfectly good for a modern wake so you needn’t push the boat out unless you really want to.

Choose a Cost-Effective Coffin

Caskets are expensive items. Even wooden coffins with veneers and a few ornate touches here and there will cost more than you might expect. However, there is no need to go to great expense with a coffin. Cardboard ones sound flimsy but they are up to the job of conveying most bodies. What’s more, they’re widely considered as being an environmentally sound option as well as being cheaper.

Go Online

Cut down on costs by using online services for the funeral you are planning. Few people put notices in local newspapers these days when they can tell people about the funeral arrangements using social media posts. Equally, you can cut down on the expense of lots of mourners traveling to the funeral service by streaming it. Many funeral homes and crematoria offer online services nowadays that allow mourners to attend virtually. Just ask them what is involved before you book to make sure they have the necessary technical capabilities.

Expat funerals

Arranging expat funerals requires a delicate balance of navigating cultural differences, coordinating with international authorities, and offering personalised services to honour the diverse backgrounds and preferences within the expatriate community. Expat funerals in Spain, for instance, often involve a unique blend of local customs and expatriate traditions, reflecting the diverse cultural tapestry of the expatriate community in the country.

The Queen’s Speech announces a promise to help households with cost-of-living crisis – but is more needed? 

Sam Allcock
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The Queen’s Speech announces a promise to help households with cost-of-living crisis – but is more needed? 

Households face a myriad of obstacles in the UK property market as the average asking price surges to over £360,000

The UK is facing the worst cost of living crisis since the 1980s, with inflation running at the highest pace in 30 years. During the Queen’s Speech on Tuesday 10 May, a promise was made to grow the economy and ease the financial burden on households, however there was no specific bill announced aimed at tackling the cost of living. 

The rising prices are just one of many obstacles facing the UK housing market. The unbalanced supply and demand level has caused the average asking price to surge to £360,101 – representing a £19,082 increase over the past three months. Alongside this, 53% of properties are selling at or over their final advertised asking price. These persistent rises have made it harder than ever to get onto the property ladder, with buyer inquiries 65% above the ‘more normal’ market of 2019. Another contributing factor is the nature of the UK’s open market – attracting not only domestic purchasers and investors looking to buy, but also inbound investors and people looking to relocate to the UK. 

The continued rise of property prices, combined with rising interest rates, inflation and cost of living has caused anxiety within the property world. An ONS survey revealed that around half (53%) of adults who rent their home reported that they could not afford an unexpected expense, compared with 1 in 10 (13%) of adults who own their property outright – clearly illustrating the end impact of the cost of living on renters especially.

The average UK house price rose again in April by 1.1% – marking the 10th consecutive monthly rise, however, the rate of growth is slowing. The rise in April was lower than the 1.4% increase in March and with energy bills expected to rise again in October, it’s likely the rate of house price growth will slow by the end of 2022.   

David Hannah, Group Chairman at Cornerstone Tax discusses what changes need to be made to help households with their cost of living: 

“The promise to help households with their cost of living announced at The Queen’s Speech is a step in the right direction, but more needs to be done. If we look at the average UK house price, it is higher than ever before, meaning it’s more unaffordable than ever for individuals – unless wages are increased.
 
“If we look at what has been going on – house price growth, retail inflation, energy costs surging, that’s going to put pressure on employers to raise wages. I believe wages will rise, meaning real spending power will not actually decrease. If you borrow a hundred thousand pounds today, the fixed figure of one hundred thousand pounds doesn’t rise in line with inflation. So, in five years time that debt is probably worth half what it is today. In high inflationary times with relatively low interest rates, it makes sense to borrow. The debt is being eroded by inflation, whereas the value of the asset (the house) is actually going up in line or ahead of inflation. It’s a way to make real returns.
 
“The problem we do have is the rate of demand and supply. If builders are building and they’re over supplying, it will soften the increase and the appreciation in asset value. But, if the number of people wanting to buy houses continue to exceed the supply, then those prices are going to rise.

“We have an open market in the UK which means not only are domestic purchasers and investors looking to buy but we have inbound investors. We also have quite a number of people relocating to the UK. Overall, I expect demand for UK housing to continue to outstrip supply – pushing price increases ahead of inflation and provided wages are increased, the affordability of housing will stay in lockstep.”

North Europeans found to be some of the most avid card users, according to GlobalData

Sam Allcock
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North Europeans found to be some of the most avid card users, according to GlobalData

The people of key countries in North Europe have been found to be some of the most willing to pay for goods and services using payment cards (debit, credit or contactless), according to research by GlobalData. The leading data and analytics company notes that 245 card transactions were made in Denmark per person in 2021, while there were 194 in Norway, 194 in Sweden and 145 in the UK. These North-Europe countries have topped other big card users worldwide such as the US (109), Singapore (85), Germany (62.5) and Italy (52). 

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Ravi Sharma, Lead Banking and Payments Analyst at GlobalData, comments:“Over the last few years, many countries saw the last few things that required a cash payment—from buses to taxis—convert to card or digital payments. Take Sweden, for example. Commuters can now pay for metro, rail, bus, tram, and boat trips by simply tapping their contactless card. In fact, it is no surprise that Sweden tops the charts, as its payments industry is well developed and mature.”

According to GlobalData’s latest report, ‘Sweden Cards and Payments – Opportunities and Risks to 2025’, Sweden became the first cashless society, with physical money accounting for less than 1% of the country’s overall payment value in 2021. This was accelerated by the COVID-19 pandemic, as consumers saw cash as a potential disease vector. The number of cash transactions decreased by 8.1% in 2021.

However, similar to many countries worldwide, the Swedish card payments market was impacted by COVID-19. 

Sharma continues: “2020 was a difficult year for card payments in Sweden. The economic uncertainty caused by COVID-19 forced consumers to cut down on unnecessary spending, which, in turn, affected card payments. The general payments market registered a decline of 9% in 2020, with credit and charge cards impacted the most—at a 16% decline. Debit cards registered a decline of 6.4%.”

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Now, spurred by gradual economic recovery and rising consumer spending, payments are recovering. The country’s total card payments value is forecast to register a compound annual growth rate (CAGR) of 5% between 2021 and 2025, reaching $140.1 billion (SEK1.3 trillion) in 2025. Meanwhile, credit and charge cards will grow at a 6.3% CAGR, and debit cards will grow at a 4.6% CAGR.

Accountants are first port of call for SMBs struggling with rising costs as 3 in 4 experience increased demand for advice

Sam Allcock
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Accountants are first port of call for SMBs struggling with rising costs as 3 in 4 experience increased demand for advice
  • Managing rising business costs most in-demand support area for accountants
  • Accountants recommend hybrid working (28%) to mitigate rising costs
  • But more flexible workforce post-pandemic means 7 in 10 accountants find SMB clients are struggling with managing payroll
  • 3 in 10 (29%) SMBs seek accountants’ advice when making hiring decisions

A study from global technology platform Intuit QuickBooks has found that seeking support from a business accountant is the most popular choice for SMBs in the UK addressing rising costs to their businesses – with more seeking support from their accountant than from the Government (through schemes such as Help to Grow), small business networks, and social media.

Over half (55%) are already benefitting from this support from their accountant, while a further 30% are planning to enlist their help. Meanwhile, just 42% have already sought government support, while 44% look to small business networks, and 50% to social media.

The driver behind this increasing support is clear: over three-quarters (76%) of accountants in the UK are seeing increased demand for advice managing rising costs – making it the most in-demand area of support for accountants. This is no surprise given that the main challenge for almost half (43%) of small businesses is the rising cost of living, with 33% feeling unprepared for its impact.

Combatting rising costs with staffing strategies

According to accountants, taking advantage of hybrid working is the main way SMBs can mitigate rising costs (28%) with changing the way they manage business finances following closely behind (26%).

However, flexible working causes its own challenges, including hiring new staff. Staffing costs are one of SMB’s biggest expenses, and over 1 in 4 (29%) already seek their accountant’s advice when hiring new staff. The demand for this expertise for hiring new staff (63%) and for meeting the regulations of hiring freelance/contract staff (66%) is clear.

While a vast majority (79%) of accountants do feel their SMB clients can make decisions on hiring new staff without them, some common mistakes are tripping SMB owners up, with the top issues seen by accountants being:

  • Hiring staff without knowing how they will manage payroll (34%)
  • Making hiring decisions without a growth/financial plan (32%)
  • Not knowing what the business can afford in terms of salary/benefits (31%)
  • Not investing in payroll software/trying to do it themselves (30%)

In fact, managing payroll itself is one of the major areas where SMB customers look for accountants’ support (69%). A constantly fluctuating job market and employment landscape in the UK following The Great Resignation, coupled with the impact of rising costs of managing a business and in the supply chain are unsurprisingly driving this.

Pauline Green, Head of Product Compliance & Programs at QuickBooks, commented: “The rising costs facing SMBs are clearly causing financial stress and concern, so it’s encouraging to see the majority enlisting the expertise of their accountants for support. Accountants are acutely aware of SMBs’ financial struggles, and a safe pair of hands to turn to when the going gets tough.”

In the current cost of living crisis, taking a holistic view of business costs has never been so important, and staff costs can be one of SMBs’ biggest expenses. Accountants are uniquely positioned to give strategic advice around the financial impact of hiring decisions, as well as help clients manage the nuts and bolts of payroll – a process that has become increasingly complex in the post-pandemic world of work.

”The impact of flexible working is a double-edged sword – clearly accountants see it as a sound business decision, but also recognise the difficulties it brings to processes like payroll,” adds Green.“‘Going it alone’ is even more difficult in the current climate, and leaning on the knowledge and technical expertise of your accountant can help you make the simple technology investments that can ease the payroll process.”

Representatives from QuickBooks will be speaking at Accountex, Europe’s definitive event for accountancy and finance professionals, at the ExCel London on 11 and 12 May.

The Procurement Strategy in Construction: Factors to Take into Account for Selection of the Best-Matching One

ABC Staff
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The Procurement Strategy in Construction: Factors to Take into Account for Selection of the Best-Matching One

The construction industry is not lacking in challenges related to the contract, agreements, supply procedures, and other building stages. That is why a well-thought procurement strategy is required for contractors who are interested in the long-term performance in the market. 

This is a range of approaches that are combined into one tactic for construction companies. The procurement strategy covers all the potential sources of supply, building terms, the contract/agreement type, and many other aspects.

To pick a size with the best-matching tactic, especially for your company, it is necessary to take a closer look at the list of factors that matter for this selection. Additionally, it is recommended to pay more attention to the optimization and digitization approaches. Those contractors who use construction estimating software together with other digital tools for estimating, budget planning, and other processes are successful with their procurement strategies.

What Is the Procurement Strategy in Construction?

This is a process where all necessary goods and services are acquired. With the help of the win-win procurement strategy, contractors can turn their projects into extremely profitable ones. All the supplies should be bought effectively and should not ruin the approved budget.

If all the goods and services are acquired cost-efficiently, the risk of facing challenges concerning deadlines, schedules, and planned funds for this or that building stage is minimal. For example, the agreement between partners or parties of the construction alliance can save some funds in the context of commodity purchasing.

The procurement strategy is focused on time-saving tactics and the cost-efficiency of the company. Most contractors also choose the most proper conditions of the contract and pricing types at this stage. To pick sides with the best-matching range of planning and management approaches, it is necessary to pay attention to the top factors influencing the selection of the construction procurement strategy.

What Are the Top 4 Factors in the Context of the Procurement Strategy Selection?

It is worth noting that among the top-priority factors to take into consideration are four very important aspects. Let’s take a closer look at them to skip all the difficulties with the procurement strategy selection:

  1. The goal of the project. This is about the objective of the order delivery and other specifications like the terms, schedules, deadlines, etc. The client can specify any details to meet by the contractor. For example, some customers would like only green building techniques and eco-friendly materials for building. Additionally, the pricing is discussed here. Both contractors and clients should inform each other about their budget expectations.
  2. The constraint. There is a triangle of specifications when it comes to this factor. The contractor together with managers should take into account cost, time, and quality constraints. Additionally, the analysis of the labor resources should be undertaken.
  3. Contract risks. It is worth noting that all the contractors obtain challenges concerning the competition of the agreement to be signed. All the criteria should be adopted to the requirements of the client. There are specific competition issues that can affect the building program. That is why the range of risks should be identified timely.
  4. The complexity of the construction project. For example, the size of the agreement between parties can matter. Additionally, contractors can be limited in deadlines for the project completion and the scope of work to execute. The company should understand what machinery and equipment are required to deliver the result timely.

    Finally, it is worth mentioning that the true balance should be met between objectives and project completion terms. The procurement strategy covers all the risks, goals, and necessary resources like workers, supplies, and other tools to finish the order according to the specified schedule in the contract.

6 trends in pharma packaging you need to know about

ABC Staff
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6 trends in pharma packaging you need to know about

Pharma packaging is evolving fast to better the patient experience. Keeping up with the new packaging trends is vital for the success of pharmaceutical companies, as it allows them to stay relevant and stay on track with consumer expectations and demands.

In this article, the packaging experts from Packlion will talk about the six rising trends in pharma packaging.

What makes packaging so important?

Quality is key when we talk about medicine. But that statement is also valid for its pharmaceutical packaging, just as supplement manufacturers prioritize high-quality packaging to ensure product safety, compliance, and consumer trust. Pharma packaging is an integral part of medical products and is important for many reasons:

  • Helps patients distinguish different types of pharmaceutical products and brands
  • Serves to maintain the drug quality
  • Protects from external physical damage
  • Protects from biological degradation
  • Keeps medicine safe from exposure to liquids, light, and other substances
  • Contains crucial details on quantity, use, dosing, ingredients, warnings, side effects, allergic reactions, and safe disposal
  • Displays tracking information to ensure drug authenticity

As you can see, a pharmaceutical product without packaging could be quite unsafe and unreliable. But is traditional packaging enough or should pharma companies explore more up-to-date approaches and solutions? Keep on reading to find out.

6 important trends in pharma packaging

1. Innovative packaging

Innovations in packaging machinery are at their peak. That leads to a lot of inventive and unusual packaging solutions with robotics and 3D printing. There are already some pharmaceutical packaging prototypes on the market, and we are only expecting the automation trends to continue.

3D printing is like a revolution in the packaging field, as it makes prototyping accessible and eliminates the need for outsourcing inner packaging. Pharmaceutical companies can 3D-print their own bottles and containers, which lowers the environmental footprint and extra charges associated with container and packaging logistics.

On top of that, the innovative technology opens many doors to experiment with new, irregular, and odd shapes, sizes, and materials.

2. Sustainability

Eco-conscious people and eco-aware companies are constantly looking for ways to lower their footprint, minimize waste and plastic pollution, stop wasting resources, and save the environment. Eco-friendly packaging is a wonderful solution to all these environmental problems and is a selling point for many customers.

Switching to lightweight, biodegradable, and recyclable materials, made of renewable resources, is bound to make consumers happy, lower your shipping expenses and benefit the environment. The best eco-friendly materials to choose from for the outer pharma packaging are paper and cardboard. 

3. Serialized tracking and tracing

This trend is all about drug safety, theft protection, and control. Pharmaceutical packaging needs to be compliant with the regional rules of serialized tracking. Typically, the manufacturer needs to create tracing codes in accordance with local regulations and display them on the pharma packaging.

The idea behind serialization is to confirm medicine authenticity, ensure medication traceability and stop drug theft and counterfeiting. Tracking drugs is also a great way to keep medication and patients accountable, as it is overseen by health authorities.

4. Smaller batches

Another hot trend in pharma packaging right now is small product lots. And the reason is not as nature-related as you might think. While lowering the environmental footprint is a thing, small lots are actually an inventive way to catch up with innovative medicine.

Smaller batches are becoming a thing with the rise and development of biologics. It is safe to say, this is the future of pharmaceutical products and personalized drugs for cell and gene therapies. That eventually leads to higher demands for custom packaging to fit the tiny lot sizes.

5. Patient engagement

When it comes to pharmaceutical packaging, it is important to put out products that engage the patients. That means the packaging should display information on drug compliance. It should clearly help with dosing management and overall – improve the medical treatment experience.

To achieve that, pharma companies need to invest in the development of patient-friendly packaging with add-ons such as prefilled syringes, autoinjectors, or other easy-dosing devices.

6. Using smart technologies

Bringing smart tech (QR codes, NFC, Bluetooth) into packaging is a huge transformational step for pharmaceutical brands. And what is best – its incorporation in pharma packaging is way easier than it sounds.

There are many perks of smart packaging. The incorporation of technologies in pharma packaging can help better manage stock supply, recognize spoiled products and follow patient demand trends. At the same time, smart packaging improves safety and vastly reduces logistics risks.

Now your online browsing will also be saved!

ABC Staff
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Now your online browsing will also be saved!

As nowadays our internet activity is increasing day by day. Even just for a second, we don’t want to leave our laptops. There are running various types of sites. That may be on-page or off-page. So, we have to save our home savings from thieves in the same way we have to keep saving our laptops too. We use a VPN (a virtual private network) for this purpose. It protects our systems against hackers etc. According to general or specific features, there are bundles of VPNs available on market, but only a few can be labeled as the best. Every VPN consists of its own unique features, marvelous speed, etc.

Why the need for VPN?

Now there’s a question arises that which VPN is the best because it’s a matter of self-defense. In the market, everyone is claiming that we are providing better services than another one. So, before buying any VPN we have to check its internet speed, server locations, log policy, ease of use, malware blocking, variety of apps, etc. But we’ll see that all these facilities are easily provided by https://www.vpnpro.net. It’s true that everyone has their own needs and requirements according to their own satisfaction level. So, our ranking factor has covered all requirements, meaning that you can get anything under a roof. All these features are too much important for any golden VPN. It’s true that you want to buy that VPN where there is no need to log policy, this is known as a major ranking factor. We don’t need to be a programmer to use a VPN. The latest features are being updated as soon as possible. Like others, we also offer a 30-day free time period just to fulfill the client’s satisfaction.

How does it work?

It helps by creating a data tunnel that will be between your device and a node. After getting the exit node, it is thrown back towards the web page. Like you are using a VPN available in Melbourne, Australia but you are living in Germany. VPN will create a tunnel between the device and the VPN exit node in Melbourne. Data travels in form of the packets. Geo content filters and geo-blocking filters help to keep the information, browsing history, and identity private and secure. Its cost varies according to installed features and desirable package. Most of the VPNs also offer first-time buyer discount offers

P.S: There are various types of VPNs like privacy-focused, security-focused and freedom focused, etc.

How To Ensure Consumers Buy Their Used Car Safely

ABC Staff
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How To Ensure Consumers Buy Their Used Car Safely

Buying a used car needn’t be a risky business these days with the wealth of information available online and the range of options available.

If you do your research and watch out for some common red flags then you can be confident in your ability to spot a dodgy deal and shop around for a trustworthy seller.

Where to buy a used car?

We’ve ranked some of the most common ways to buy a used car based on how safe they are for the buyer:

Registered dealerships

A registered dealership is generally the safest way to buy a used car as they are obliged to have a greater knowledge of the vehicles they are selling and their history than a private seller would.

Registered dealerships are required to disclose any significant problems with the vehicle and you can apply to the relevant ombudsman or any trade associations they are a member of if anything goes wrong.

Look for information at the dealership about which trade associations they are a member of before buying. And check what assurances they provide (such as independent mechanic checks), so that if you have any problems and the dealership won’t sort them out you know where to go.

In return for this protection, you will probably pay a little more for your vehicle than you would from a private seller. But sometimes it’s a price worth paying for peace of mind.

Private individuals

A private seller isn’t obliged to know as much about the vehicle they are selling as a dealership would be, and some unscrupulous sellers will use this to hide information about the vehicle’s past they can pretend to be unaware of.

You can protect yourself by making sure you run a full vehicle history check on the car you are thinking of buying. By entering the reg number you will receive information about the mileage, any accidents the vehicle has been in, the MOT history of the car, and whether it has ever been stolen.

While seeing something unusual on the vehicle history check doesn’t necessarily mean you should walk away from the sale, it usually highlights something that you need to check against documentation to ensure it has been properly dealt with.

If the seller denies something has happened to the vehicle during the time they’ve owned it, but you can see it on the vehicle history report, this is a big red flag that something isn’t right with either the car or its documents.

You should physically see and check the car over when buying a used car from a private seller before any money changes hands. Be wary of anyone asking for a downpayment before you’ve seen any documents or the vehicle itself.

When viewing a used car, look for any obvious defects and check that the VIN matches in different positions on the vehicle as well as what’s recorded in the logbook.

Other sources

There are other ways of buying a used car but most are considered to carry a greater risk to the consumer if they’re not extremely careful.

It’s sometimes possible to grab a bargain vehicle at auctions but these cars are usually sold ‘as-is’. This means there may be hidden problems if the previous owner didn’t keep up with maintenance, drove the car carelessly, or didn’t keep the documentation up to date.

If you buy a used car at auction then you need to be ready to deal with any issues that come with it!

There are a lot of finance companies these days that can handle the entire purchase and delivery process for you. They’ll even bring your new car to your doorstep as soon as you’ve picked it out!

While you obviously can’t perform a physical inspection of the vehicle yourself in these cases, the finance company provides an extra layer of consumer protection if anything goes wrong with the car or the sale.

Just as buying from a dealership is more expensive than buying from a private individual, you will pay even more for the convenience of an online finance company purchase. Each additional person or company involved in the sale needs to get something out of it, and you will pay more for an easier process.

How can I protect myself when buying a used car?

No matter where you are buying a used car from, it’s always a good idea to run a vehicle history check and make sure that the information matches what you’ve been told about the car.

This is especially important when there has been a string of owners. A seller may not know everything about the vehicle, and, by running a vehicle history check, you can be one step ahead of common cons like mileage alteration and plate switching.

The payment method you choose is also a big factor in how safe the transaction is when buying a used car. If you pay in cash, you need to be very sure that you’re making the right choice at the point of sale – there’s no protection if there turns out to be an issue later on. Plus, if someone else denies the transaction it’s your word against theirs, which can make things difficult.

Making the transaction with a credit card, even if you have the balance to cover the payment, is an easy way to get additional protection from your credit card company when making a large purchase such as a used car.

Although the onus is still on you to ensure you’ve checked the vehicle over and done your due diligence in researching the seller, your credit card company adds fraud protection as well as allowing you to spread the payments.

When making transactions online, some companies will allow you to use PayPal. This offers a similar level of buyer protection as a credit card company, and also offers a payment spreading option that may not be available from all sellers. If you don’t have a credit card, this can be an easy way of adding buyer protection to online transactions.

If you’re not sure about a vehicle, you can get an independent report on it from a range of motoring organizations and specialist companies. Your trusted local garage or mechanic may be able to provide this service, or you can contact the Motoring Ombudsman for information about trusted sources of independent reports.

The Motoring Ombudsman is also your first port of call if you think someone has been deceptive when trying to sell you a car. This is an independent, government-backed body with oversight over the entire motoring industry and they are responsible for investigating fraudulent selling. If you think you’ve been scammed (or that a seller is trying to scam you) then you can contact the Ombudsman for free advice on how to proceed.

House prices have reached their peak – but property expert explains why you should buy now

Sam Allcock
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House prices have reached their peak – but property expert explains why you should buy now

Average first-time buyers already paying £612 more a year on mortgage costs than the beginning of March 

Simon Bath, property expert and CEO of iPlace Global, the creators of Moveable, comments on what an interest rate rise means for first-time buyers

The property market is intimidating enough for first-time buyers to get on the ladder; now, house prices have also reached an all-time high – making the process even more difficult. With this in mind, the Bank of England’s recent inflation projections could see an interest rate rise so large that first-time buyers will still pay more for a property, even if prices fall.

As soaring inflation continues to taint the UK economy, the effects of rising interest rates are making mortgage prices more expensive. Experts have warned that property prices are set to cool in the coming months, especially because British households are currently struggling with the biggest drop in disposable income since 1964. Further to this, a 40% increase in energy prices in October is set to also contribute to the plummeting demand for properties.

The fall in demand is set to slow down the rapid growth of current house prices; however, Simon Bath, CEO of iPlace Global, the creators of Moveable, warns prospective buyers that while prices are set to drop, mortgage costs are also rising at a pace fast enough to supersede this. 
The most recent rate adjustment to 1% will push monthly repayments up to £928, and a rise to 2% could push average costs to £983 – meaning that buyers would pay an extra £1272 a year compared to if they purchased a property in March. Even if the price of their home went down by 5%, first-time buyers are set to pay significantly more.

Simon Bath, property expert and CEO of iPlace Global, the creators of Moveable, comments:

“The Central Bank has warned that inflation could reach double digits by the end of year. This news means that the younger generation – in particular first time homebuyers – will be most affected by rising rates. This is because first-time buyers often have a smaller deposit and need the most borrowing power – which will undoubtingly mean that borrowers will be scrutinised over their ability to afford a mortgage when applying to lenders. That being, said, many lenders will continue to offer rates for the broad spectrum of home movers.

“An increased rate move could add hundreds of pounds a year to the average mortgage bill for those on the standard variable rate – especially in an arena with such high demand and low supply. The Bank of England base rate has just reached 1% for the first time in thirteen years, with expectation that this could rise above 2% in the coming months. For many homebuyers, this could still be a relatively cheap level of borrowing – especially given the Central Bank’s projections – which potentially makes it an extremely attractive option versus the ever increasing average rental levels seen in the market.”

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