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My Weekend at Hewenden Mill Cottages

My Weekend at Hewenden Mill Cottages

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I have just returned after a three-day break at Hewenden Mill Cottages in Yorkshire.

I was there to visit my sister Liz and her family, who live in Wilsden, near Bradford. They don’t really have room for me to stay with them, so I did an internet search and discovered Hewenden Mill Cottages, which was just a mile and a half from them.

At first I assumed that, as these were self-catering cottages, they wouldn’t be suitable for a solo visitor who was only coming for a long weekend. Turns out I was wrong, though. They were very happy to accommodate me for three nights, and the cost was, if anything, cheaper than staying at a hotel (see Financials, below).

Hewenden Mill Cottages is in a secluded location between the villages of Wilsden and Cullingworth. I have embedded a map of the area below (courtesy of Google Maps.

The Accommodation

Hewenden Mill Cottages and Apartments (to give their full title) is based around not one but two old mills which have been converted into holiday cottages.

The main Hewenden Mill complex (which includes the reception, shown in the cover photo above) is easy to access from the B6144 (also called Lane Side). I was staying at Bent’s Mill, however, which is a short distance from Hewenden Mill. It’s a seven-minute walk from one to the other through some picturesque woodland, but unfortunately it’s not possible to drive through this. I have posted a photo of Bent’s Mill below.

Bents Mill

When I arrived I was met at reception by the charming Susan, who told me she was the owners’ daughter. She asked me to follow her in my car as she drove to Bent’s Mill. I was glad to have her as my guide, as the journey involved going on narrow, twisting country lanes, and for my first visit it was reassuring to have her car in front and know I was going the right way. It also came in useful when we turned a corner and met another car coming the opposite way. As there were two of us and only one of them, they had no option but to back up!

I was staying in the Wheel Pit House at one end of Bent’s Mill. As you may gather, this is where the water wheel once stood. It’s no longer there, but you can see the chamber where it was through a window in the entrance hall (or from the outside). You can read more about the Wheel Pit House on this page of the excellent Hewenden Mill Cottages website. Here is my own photo of the exterior.

Wheel Pit House

My accommodation was on three levels. On the ground floor was the front door and entrance hall. Upstairs on the first floor was a double bedroom and bathroom. On the top floor were the kitchen and lounge, from which you could enjoy lovely views of the woodland and mill pond (see photo below).

Hewenden01

I have to say I was very impressed by my cottage. It was spacious and comfortable, with everything you would need for a short stay (or a longer one).

The kitchen included an electric cooker with ceramic hob, fridge, freezer, dishwasher and washing machine – all very clean and modern, and considerably nicer than I have at home!

The cottages have free wifi, and all costs such as electricity and VAT are included in the price. There would have been plenty of room for a couple, and a young child or baby as well. To me as a solo visitor it felt palatial, especially after the compact ‘Forest Retreat’ I stayed in a few weeks ago at Aberdunant Hall. As a matter of interest, I worked out that at Hewenden my accommodation was over six times larger!

A nice touch is that the owners provide a complimentary ‘welcome pack’ of groceries on arrival. This included bread, milk, butter, preserves, orange juice, biscuits, and so on. A selection of breakfast cereals in individual boxes and sachets was also provided, along with coffee and Yorkshire Tea (see below!).

Yorkshire Tea

Hewenden Mill and (especially) Bent’s Mill are a bit off the beaten track and there aren’t any shops close by (though there is a Co-op in Cullingworth about a mile away). As I was mostly eating with my sister and her family that wasn’t an issue for me, but if I’d had to buy some provisions it wouldn’t have been a problem. There are also several takeaways, cafes and restaurants within a mile or two.

Financials

As Pounds and Sense is primarily a money blog, I need to say a few words about this.

I paid £327 (including VAT) for my three-night stay in the Wheel Pit House at Hewenden Mill Cottages, which I thought was very reasonable. I paid an initial £50 deposit when I booked, with the rest due on arrival.

Costs obviously vary according to the accommodation you want, when you want it, and for how long. I did though notice that the longer your stay the cheaper (per day) it works out. While you can book for one or two nights, it becomes much more economical if you are staying for three nights or longer.

The price I paid worked out to £109 a night, which – as I said above – struck me as very reasonable (and cheaper than most of the hotels I have stayed at recently). Of course, unlike most hotels, you don’t get a cooked breakfast, and neither is a daily housekeeping visit included. On the positive side, though, you do get far more space, a fully equipped kitchen, a separate lounge and bedroom, and complete privacy during your stay.

You can check current prices and availability on the Hewenden Mill Cottages website.

Things To Do

Obviously I was visiting family, so I won’t go into detail about everything I did while I was there. However, for the benefit of anyone who may be considering visiting the area, I will mention a few of the local attractions.

First of all, Hewenden Mill is just a few miles from Haworth, the home of the Bronte sisters, Charlotte, Anne and Emily (indeed, the area is sometimes called Bronte Country). If you haven’t visited before, I would say this is a must-see. You can go around the parsonage where the sisters were brought up and wrote their famous novels such as Jane Eyre and Wuthering Heights. The parsonage has been preserved (or restored) largely as it was in their day. I found it quite an emotional experience seeing the family home where the sisters lived, wrote, and tragically all died at an early age

The village with its cobbled high street is also well worth seeing, and there are numerous (enticing) tea and cake shops.

And finally, Haworth has a station on the Keighley and Worth Valley Railway, a heritage steam railway which runs between Keighley and Oxenhope. The line and its stations has been used in numerous period film and television productions, including the film The Railway Children. More information and timetables are available via the KWVR website. You can get a 10% discount on a Day Rover ticket if you buy your ticket more than seven days in advance.

Also nearby is Saltaire, the Victorian model village built by textile magnate and philanthropist Sir Titus Salt to house the workers at his mill. The mill itself is still there, and large parts are open free of charge to the public. Inside is a bookshop, and you can still see some of the old heavy machinery there that was used in the mill. There is also a bustling coffee shop and restaurant, along with displays and exhibitions. The River Aire runs alongside the town (hence the name, of course), and the Leeds and Liverpool Canal too (great for a brisk walk along the towpath!).

And, of course, the whole of the area is incredibly scenic, with lots of scope for country walks, runs or cycle rides, as you prefer. From Hewenden Mill Cottages there are various walks you can take, from a five-minute stroll to Goit Stock Waterfalls (see photo below) to much further afield.

Goit Stock waterfalls

Final Thoughts

As you may gather, I very much enjoyed my stay at Hewenden Mill Cottages and thoroughly recommend them. Obviously, the fact that they are only a short drive from my sister’s home was a big attraction for me. Even if that wasn’t the case, though, I would definitely consider going back for a short break.

There is plenty of choice of accommodation, though at weekends especially it does get popular, so it’s definitely advisable to book a few weeks in advance.

If you want complete peace and seclusion, I can highly recommend staying at Bent’s Mill, where the only noise to be heard is birdsong. My one slight reservation is that, as mentioned earlier, getting there by car involves a somewhat nerve-racking drive along narrow, twisting lanes, where you really hope you don’t meet someone coming in the other direction! it’s perfectly do-able, of course, but if you don’t fancy this particular challenge then staying at the main Hewenden Mill might be a better choice for you.

As always, if you have any comments or questions about Hewenden Mill Cottages, please do post them below.

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Have You Tried Nextdoor?

Have You Tried Nextdoor?

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Excuse the slightly tongue-in-cheek title. Nextdoor is actually a free social network for local communities.

I’ve been a member for about a year now. In the last few months I have seen the number of people who have signed up in my neighbourhood grow considerably. So I thought today I’d share my thoughts about it.

What Is Nextdoor?

I’ll start by quoting from the Nextdoor website:

Nextdoor is the private social network for you, your neighbours and your community. It’s the easiest way for you and your neighbours to talk online and make all of your lives better in the real world. And it’s free.

People are using Nextdoor to:

  • Borrow a ladder
  • Organise a Neighbourhood Watch Group
  • Track down a trustworthy babysitter
  • Find out who does the best paint job in town
  • Ask for help keeping an eye out for a lost dog
  • Find a new home for an outgrown bike
  • Finally call that nice man down the street by his first name

Nextdoor’s mission is to provide a trusted platform where neighbours work together to build stronger, safer, happier communities, all over the world.

That’s a reasonable summary, I think. It corresponds with the types of uses people in my local area are putting it to, as the screen capture below illustrates.

Nextdoor messages

Here are my personal thoughts and experiences of Nextdoor as a member…

How I Use Nextdoor

As well as keeping an eye on what is going on in my neighbourhood, I have also used Nextdoor as a way of finding reliable tradesmen. This has worked pretty well, although I do find that when you ask for recommendations from your neighbours, what you actually tend to get is a stream of replies from the tradesmen themselves angling for your custom. Of course, it’s quite understandable that tradespeople are cottoning on to the fact that this can be a good way of getting work.

I have also found Nextdoor good for finding local people willing to do smaller jobs that the average tradesman might not be interested in. Here’s an example message I posted recently…

Man (or Woman) with a Ladder Needed

I recently had some scaffolding up at the back of my house. When the scaffolders took it away, they left a couple of short metal tubes near the edge of the roof. Despite several requests they haven’t come back for them and I’m concerned they may cause damage if they fall down. So I just wondered if someone with a ladder might be willing to pop over and remove them for me? Should only be a five-minute job and I’m happy to pay a tenner or donate the money to your favourite charity. Will also give you a review on any relevant website if you’re a tradesperson.

I got a reply on Nextdoor within an hour from the wife of a local roofer. She said her husband would be happy to come and do this for me. We exchanged private messages, and the roofer (Clive Byrne of CMB Roofing – many thanks!) came over that afternoon and removed the offending items for me. As per my message, I paid him £10 and put a review on Google for him. This solved a niggling problem for me with the minimum of hassle, and is a good example of the sort of thing Nextdoor can work well for.

Any Drawbacks?

As with any social network there can be differences of opinion, and worse…

I have seen a few instances where people have been criticised for things they have said or shared on the platform. Sometimes (in my opinion) this may have been justified, but other times I think those concerned have been, shall we say, rather thin-skinned.

One issue that has arisen a few times has been when someone reports suspicious activity and others then criticise them for stereotyping or being too quick to make judgements. I do accept that this can be a difficult issue, but personally I think that if someone observes suspicious, possibly criminal, behaviour, it’s not unreasonable to alert their neighbours about it. But like it or not, if you do this, you can expect to be criciticised by some people.

Unsurprisingly, politics (national and local) is another contentious area. For example, where I live the local council is currently considering a planning application for a KFC drive-through. Some people expressed their disapproval about this quite forcibly, while others argued (equally forcibly) that it would be beneficial for the area. Of course, there’s nothing wrong with a bit of robust argument, but some of the comments became unpleasant and borderline abusive. Some people get hot under the collar when they discover that their neighbours don’t share their views, and it can rather spoil the friendly, community vibe that Nextdoor is trying to promote. Of course, the same thing happens on Facebook and other social networks, but if you join Nextdoor you need to be prepared for this.

Nextdoor is monitored and supervised by what the network calls ‘Local Leads’. These are – as I understand it – ordinary members who have additional powers, e.g. to delete posts that breach the community’s guidelines. I now know who my Local Lead is, but only because I researched this carefully. I haven’t ever seen any posts by them on the platform, much less any evidence of constructive interventions. Maybe all this goes on behind the scenes – I don’t know. I do think Nextdoor could be more up front about who the Local Leads are and how they are chosen.

Finally, it would be wrong not to mention that joining Nextdoor has privacy implications. As a member, you can see the names of people in your local area and (in most cases) their street and house number. And they, of course, will be able to see yours. This information is only available to people in your immediate area and pseudonyms are not allowed. I can understand the reasons for this, but if you are uncomfortable with it, Nextdoor may not be for you. In any event, be careful about sharing personal information in your profile, especially anything you might not want your neighbours to know!

How to Join

If you do decide to give Nextdoor a try, you can sign up for free at https://www.nextdoor.co.uk. Fill in the short form on the front page (see screen capture below) including your postcode, then click on Find Your Neighbourhood. You will then be able to see recent posts by your neighbours, with other information (e.g. a map of your area) available via the left-hand menu.

Nextdoor form

You can also access Nextdoor via a mobile phone app. Versions are available for Apple (via the iTunes App Store) and Android (via Google Play).

Final Thoughts

Although (as stated above) I do have certain reservations about Nextdoor, overall I feel I have benefited from it, and it has certainly increased my awareness of events going on in my neighbourhood. I have also, as mentioned above, found it a useful resource for finding tradespeople and getting recommendations.

I’d love to hear your views about Nextdoor, and also your experiences (good or bad) if you’re already a member. Please do leave any comments below as usual.

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Infographic: Transferring Property Ownership After Death

Infographic: Transferring Property Ownership After Death

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Today I’m bringing you an infographic created by I Will, a firm of solicitors who specialize in will writing. I published their previous infographic, An Essential Guide to Writing Your Will, back in 2017.

The infographic below is all about what happens with a property when the owner dies. As the graphic says, when the house is in joint ownership (as is typically the case with a married couple) and the surviving partner wants to go on living there, it is usually just a matter of notifying the Land Registry and (if relevant) the mortgage-holder.

If the house was in sole ownership, though – e.g. after the second partner dies – as the graphic says, the situation is more complicated, and there are various important things the executor will need to take into account.

It’s quite a long graphic, so please take a little time to scroll down it, and I’ll see you at the other end!

Thanks again to I Will Solicitors (not an affiliate link) for permission to use their graphic.

The company specializes in Islamic wills, but offers numerous legal services to people of all faiths and none, including Probate, Lasting Power of Attorney, Deputyships, and more. They say, ‘The writing of Sharia-compliant Islamic Wills is our specialty, but we are by no means a “Muslim-only” legal services provider.’

As I have said before on Pounds and Sense, where wills are concerned I strongly recommend using a properly qualified solicitor (and even more so where property is involved). I have had several experiences within my own family where failing to do this has caused serious delays and problems. In my view it really isn’t worth trying to save a few pounds by using a cut-price ‘will-writing service’ or attempting to do it yourself, not to mention all the hassle this can entail.

If you have any comments or questions, as ever, please do post them below.

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How to Save Money When Buying a Garden Building

How to Save Money When Buying a Garden Building

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A garden shed or cabin is a serious purchase. Erecting a building in your garden doesn’t come cheap after all, even if it is made of wood.

As it’s such an expensive buy, you’re going to want to make sure that the shed is going to be fit to serve you for many years to come. The ultimate way to waste money when buying a garden shed is to have to replace the thing after a year or two!

Some shed manufacturers make sheds that look just like their higher-end peers, only they have been built using every shortcut in the book. Some might feature inferior wood varieties, construction methods, glass, or delivery options. Spending a bit more up front and going with a quality supplier will ultimately save you the most money, since it will need minimal maintenance work or repairs over its lifespan. Remember, you’re buying something for years here, not simply a few months!

Unfortunately, there’s not really any getting around the fact that your new shed or cabin is going to cost a reasonable amount. Whilst there are loads of manufacturers that are happy to sell you a building for less than the average asking price, these are often shoddily constructed, and the likely result is an angry customer needing to replace their shed much sooner than they expected.

One possible way to relieve some of the sting from your wallet when buying from a quality manufacturer is to use a discount voucher. This will allow your money to go that little bit further and, ultimately, you’ll end up with a much more rugged and durable building. Remember the mantra: buy cheap, buy twice.

There are loads of different manufacturers around that all run different promotions throughout the year. You’ll find two such special offers– one for Waltons discounts here and one for Shed Store discounts here. Both of these companies offer exceptionally high-quality garden buildings and these promotions make their products a little easier on the pocket.

Save Money by Getting it Right First Time

As is often the case, the best way to save money on a new garden building is to spend a little more up front and go for the highest quality possible. Although it is perhaps counter-intuitive, higher quality sheds pay for themselves in a couple of ways. Firstly, a superior garden building is much more likely to protect whatever you store in it from the elements as well as would-be intruders. If you end up having your lawnmower nicked because you bought a cheap summer house or shed with a rubbish lock, did you really save any money?

Secondly, a higher quality shed will need much less spent on it in terms of either maintenance, repairs, or even replacement. The cost of a new shed is certainly going to be more than whatever you saved by buying the cheap one in the first place. Again, remember the mantra, buy cheap, buy twice.

With that in mind, here are some things to look out for to make sure you get the best shed possible first-time round:

  • Building materials – Is the wood used suitable for outdoor construction? Look for slow growing varieties and beware of manufacturers not displaying the type they use.
  • Treatment – Does the product come with a treatment included? Sheds coated in a protective treatment last MUCH longer.
  • Building techniques – How are components joined together? Look for tongue and groove here over square cut joints or shiplap cladding.
  • Door hangings – Are doors hung externally or rebated? Rebated doors are much more secure and offer far greater draft exclusion. Are hinges recessed?
  • Windows – Is the glass thick enough to offer protection? Is it even glass? Are they rebated?
  • Roof – Does the roof come with an adequate covering? Felting protects sheds from succumbing to the elements and isn’t always included in the asking price.
  • Delivery – Is delivery included or do the company charge extra for it? How are pieces delivered? Avoid companies unloading components to bigger sheds by hand.

Shop Around Before You Spend

It’s a really good idea to shop around, visit review websites, and read a load of customer reviews about different products. This will give you a good feel for what’s out there. It will also help you to determine if the shed you’re considering is priced highly versus the rest of the market or seems more in keeping with it. Check the different manufacturers’ specifications with the above bullet points in mind. Pay close attention to dimensions of components used. This is a common place for manufacturers to save a bit of money by offering something that isn’t really fit for purpose.

You can even pay a visit to most manufacturers’ showrooms. This allows you to see prospective sheds in action, so to speak. You can look at and touch the products themselves to determine whether the sheds on display have wobbly floors, ill-fitting doors, or other design imperfections.

It’s likely that the shed you were thinking of buying won’t be on display when you visit a particular showroom. Don’t let that put you off, though. You can still learn a lot about the manufacturer by looking at the other products they make. If the rest of their stuff seems exceptional, it would be very bad luck for you to pick the one rotten apple, after all.

By combining your own visits with internet research, you’ll be able to make a reasoned decision about your eventual purchase. It won’t feel quite so much like a stab in the dark and you’re much more likely to end up with a garden building that will last for years with minimal maintenance. Even if it costs an extra £200 up front, if it remains useful for five or more years longer than the cheaper alternative, you’re quids in really!

As always, if you have any questions or comments about this post, please do leave them below.

This is a collaborative post with WhatShed.co.uk.

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How I Saved £179.43 on my Home Emergency Cover

How I Saved £179.43 on my Home Emergency Cover

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Stop me if you’ve heard this before, but I just realised that I have been paying well over the odds for another of my home insurance policies. This time it is my Home Emergency Cover.

To put you in the picture, soon after I moved into my current home with my now-deceased partner Jayne in March 1995, we decided to take out emergency plumbing and drainage insurance with a company called Homeserve.

We were strongly influenced at the time by a promotional leaflet enclosed with the water bill which indicated that if there was a problem with the water supply pipe from the mains, the water company wouldn’t be responsible and we could face a large bill to have it fixed.

Homeserve were offering a policy that would cover us in these circumstances and for other plumbing-related emergencies. Rightly or wrongly, we felt at the time it made sense to pay for this, especially as the company seemed to be endorsed by our water supply company (South Staffs Water).

We paid for the policy by quarterly direct debit and each year it rolled over, generally with a small increase. I looked after our household finances but never really thought much about this. The sums involved weren’t huge, and I assumed it was worth paying them for the peace of mind. As far as I can remember, we never actually made a claim on the policy.

Fast forward to 2019, and after taking stock of my buildings and contents insurance (and saving over £500 on it), I decided the time had come to put my home emergency cover under the microscope as well and see if there were any savings I could make. And again, there certainly were!

Doing the Sums

In December 2018 Homeserve said my insurance would be going up from £198 to £222 per year, working out as £55.50 per quarter (to be fair to Homeserve there was no extra charge for payment by instalments).

So I went online to see what alternatives there were for plumbing and drainage insurance. I did a search for home emergency cover providers on Top Cashback (a website that provides money back to people buying via merchants listed on the site – see this post for more details).

I could immediately see a few possibilities for saving money. Even allowing for the cashback on offer with TCB, though, the best deal I found was with another company called Home Emergency Assist. HEA offer a wide range of policies, some of which also include gas and electrics, pest removal, boiler servicing, and so on.

Obviously you have to be sure you are comparing like with like. With Homeserve I was on their Plumbing and Drainage Plus policy, which covered me for emergencies with the internal plumbing and external water supply pipes. There was a maximum limit of £4,000 per claim.

With HEA I could have bought water supply pipe and stop cock cover only, for a price (according to their website) from £1.49 a month or just under £18.00 a year. For a policy similar to Homeserve’s which also covered me for internal plumbing problems, I was quoted £42.57 a year. This is obviously a lot less than Homeserve’s price, and there was also a higher maximum limit of £5,000 per claim.

Admittedly Homeserve’s policy included zero excess, whereas the HEA quote mentioned had a £95 excess per claim. I was happy to accept that, but for the purposes of a fair comparison I checked their price for a policy with zero excess as well and this was £87.89 a year – still £134.11 cheaper than Homeserve quoted (and with a larger maximum claim limit).

So I cancelled my Homeserve policy, and (after a few more checks including reading their Trust Pilot reviews) have signed up with Home Emergency Assist instead. As I accepted the £95 excess, I shall be paying £42.57 a year, which as stated above is £179.43 less than I would have been charged by Homeserve.

I have, incidentally, nothing against Homeserve, but for me anyway their offer no longer represented value for money. Neither am I especially endorsing Home Emergency Assist. Although they offered the best price I could find for my needs, you might of course do even better by shopping around.

In any event, the real moral of this story (as I’ve said before) is not to let laziness and inertia ever stop you looking for better deals. Even with something as mundane and relatively cheap as home insurance, you may be as surprised as I was by how much money you can save.

  • You can search on Top Cashback for home insurance providers (all offering cashback) by clicking on this link (affiliate). If you aren’t already a member you will need to register to get cashback, but this is free and only takes a few moments.

As ever, if you have any comments or questions on this post, please do leave them below.

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Boost Your Income by Renting Out a Room

Boost Your Income by Renting Out a Room

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Today I’m featuring an ‘old school’ money-making method that nonetheless can be lucrative if it suits your personal circumstances.

There is nothing complicated about this opportunity – it simply involves renting out a room (or more) in your home, either long-term or short-term.

There’s a long-running government scheme to encourage home-owners to do this. It’s called the Rent a Room Scheme. Until April 2016 you were allowed to earn up to £4,250 a year doing this. But in that year’s budget this limit was unexpectedly raised to an even more generous £7,500, which still applies now.

The Rent a Room Scheme

Anyone with space in their own home is allowed to use the scheme. You can let a single room or an entire floor.

You don’t even have to be the home-owner yourself. If you’re a tenant, you can sub-let a room, as long as your own lease allows you to do this.

There are some restrictions to the scheme, though. Most importantly, the accommodation must be furnished and it must be within your main residence. And you can’t claim under the scheme for self-contained flats even if they are in your own home.

If your gross rental income is under the £7,500 annual limit you don’t have to take any other action and can keep all of the money tax-free. You don’t even have to tell the taxman unless you fill in a self-assessment form already (in that case you’ll need to enter the rental income on your return but won’t have to pay any tax on it).

One important thing to note is that the £7,500 a year tax-free allowance is for total rental income. You aren’t allowed to deduct any expenses from this, e.g. repairs or redecoration.

If you earn over £7,500 a year from renting you have two choices. One is that you can keep the first £7,500 tax tree under the Rent a Room scheme and pay tax at your highest marginal rate on the balance above this (that’s 20% for standard rate taxpayers). This will probably be the best option for most people letting rooms at home.

Alternatively, you can opt out of the scheme altogether. In that case you will be treated like any other small business. You will be taxed on your entire rental income, but allowed to deduct all reasonable expenses before tax is charged on what is left. This will be advantageous if you have major expenses to cover. You can choose which option will be best for you each year, so it’s important to keep detailed financial records. More information can be found at https://www.gov.uk/rent-room-in-your-home.

Short Term Letting

If you don’t want a permanent – or semi-permanent – lodger, another option that has become hugely popular in recent years is short-term letting to budget travellers and people who prefer a more personal alternative to hotels.

At the forefront of this trend has been Airbnb. This site lets you offer anything from a sofa in your living room to your whole house. You can set your own rent, and decide which would-be guests you want to accept.

Airbnb charges you 3% of whatever you charge your guests (they also charge guests a fee of between 6% and 12% of whatever you charge). You get paid via Airbnb approximately 24 hours after your guest checks in.

Income from Airbnb rentals can also be claimed under the Rent a Room scheme, so long as you meet the general requirements mentioned above. This applies even if you rent out your whole house for a short period, as long as it clearly remains your main residence.

Short-term letting can obviously work well in holiday areas, but it can be done elsewhere too. For example, my sister Annie lives near Oxford and sometimes offers accommodation in her home through Airbnb to visiting academics and people coming to business meetings and conferences in the city.

There are other, similar options to Airbnb you may like to check out as well. They include HomeAway, VRBO, Couchsurfing, and more. They all operate a bit differently and offer a different range of accommodation and services (e.g. HomeAway is specifically for holiday rentals). This article on the Huffington Post site lists ten alternatives to Airbnb with basic descriptions of each one.

If you have any comments or questions on this post – or any experiences of your own to share – please do post them below.

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Property Partner review

Property Partner: My Review of This Property Crowdfunding Platform

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Today I am spotlighting Property Partner, a property crowdfunding platform I have been investing with since 2015.

As I have noted before on Pounds and Sense, I am something of an enthusiast for property investment (and specifically property crowdfunding). Among other things, I like the fact that you can make money from both rental income and capital growth. And investing in property can be a good way of spreading risk when you have equity-based investments.

Property Partner

Launched in January 2015, Property Partner has swiftly become the UK’s largest property crowdfunding website. They have over 11,500 investors, who between them have invested over £122.7 million in properties across the UK. Non-UK investors are welcome to join Property Partner too, so long as the legal system in their country permits it. Unfortunately US residents cannot invest via Property Partner at this time.

Property Partner offer shares in a wide range of properties. They include commercial buildings and residential ones, including PBSA (purpose built student accommodation). The properties tend to be on the larger side, so you won’t generally find single flats or terraced houses here. Neither do they sell shares in development or bridging loans, as offered by several other property crowdfunding platforms. This is what you might call ‘traditional’ property crowdfunding, where a property is bought on behalf of investors, who then receive a share of the rental income and any capital gains when the property (or their share in it) is sold. Here is a sample listing from their website…

Property Partner Listing

One big attraction of Property Partner is that they have an active secondary market. That means investors can offer part or all of their portfolio for sale at any time. Obviously, to sell your shares in a property you will need a buyer, but Property Partner say that so long as they are priced reasonably (i.e. at or below the current official price) shares normally sell within 72 hours. By contrast, other property crowdfunding platforms such as The House Crowd and CrowdLords do not run formal secondary markets, though they say they will always help would-be sellers find a buyer if required.

Another attraction of Property Partner is that dividends are paid monthly, unlike other platforms which typically pay quarterly, biannually or annually. Money from dividends builds up in your account, and you can either withdraw it or reinvest it in other properties. When you add that you can get started on Property Partner for as little as £250, it is not all that surprising to me that they have enjoyed such success.

For legal reasons explained on the website, you can’t currently invest on Property Partner through a tax-efficient ISA or a SIPP. That means rental income will be liable for tax at your highest marginal rate, and any profits on selling will be subject to Capital Gains Tax (though there is quite a generous annual CGT allowance).

On the positive side, for anyone investing £5000 or more, you can opt for one of three managed plans: income focused, growth focused, or balanced. Your investments in them will be managed on your behalf to ensure good diversification of assets. Property Partner say that the net annual return (capital growth plus rental income) of the dividend plan should be at least 6.5%, the balanced plan at least 7.5% and the growth plan at least 8.5%.

My Experience

I have been investing with Property Partner for three years now, and have shares in a total of 17 properties. My largest single holding is around £2,550 (St David’s Lodge in Hastings, pictured above) and the smallest is £27.90.

I have aimed to build a diversified portfolio within Property Partner. I hold shares in both residential and commercial properties, in London and across the English regions (Property Partner doesn’t have properties in Scotland or Northern Ireland, and they have just one in Wales). To diversify further, I also recently bought a share in some purpose-built student accommodation in Leicester. Although as Leicester is my old university city, sentimental reasons may also have played a part in this decision!

During all the time I have been with Property Partner there have been no defaults or delays, and dividends have arrived in my account every month like clockwork. I understand that is true of all the properties on their books.

All properties on Property Partner are purchased for an initial five years. After the five years are up, all investors will get the opportunity to sell their share (or part of it) at a market valuation made by an independent chartered surveyor. As the platform hasn’t yet been going for 5 years, that hasn’t happened yet. Alternatively, as mentioned above, you can put your share up for sale at any time on the secondary market.

Pros and Cons

Based on my experiences, here is my list of pros and cons for Property Partner.

Pros

1. Fast, easy sign-up.

2. Well-designed, intuitive website.

3. Low minimum investment of just £250.

4. Property Partner take care of all the work involved in buying and managing properties. You just choose which ones to invest in.

5. Possibility to access your money at any time by selling on secondary market (though this does depend on another investor being willing to buy your shares at a price you find acceptable).

6. Guaranteed opportunity to sell at a fair market price after five years.

7. Customer service (in my experience anyway) is fast, friendly and helpful.

8. Charges are reasonable, with an initial 2% fee. There is no charge for selling shares.

9. Potential to profit through both capital appreciation and rental income.

10. Rental income is paid into your account every month. You can either withdraw it or reinvest it.

11. Up to £750 cashback is available for new investors of £2,000 or more via my referral link (see below).

12. Managed investment plans are available for investors of £5,000 or more.

Cons

1. No tax-free ISA or SIPP option available.

2. Rates of return are competitive but not the highest.

3. No development or bridging loans.

4. Some properties are purchased with gearing (loan finance). This makes them riskier if the value of the property should fall.

Conclusion

Overall, I have been impressed by my experiences with Property Partner. There have never been any delays or defaults, which can’t be said of every crowdfunding platform I have invested with. Property Partner state that the returns generated across all their properties since 2015 average 7.3% a year, taking into account both rental income and capital appreciation. That obviously beats bank and building society accounts by a considerable margin.

As ever, it is important to note that investments with Property Partner do not enjoy the same level of protection as bank and building society savings, which are covered (up to £85,000) by the Financial Services Compensation Scheme. All investments are secured against bricks and mortar, however, so even in a worst case scenario it is highly unlikely you would lose all your money.

The lack of liquidity with property investments generally means they should be regarded as medium- to long-term investments, and you should only invest money you are unlikely to need at short notice. The active secondary market on Property Partner does though mean that you should be able to recover your capital quickly if you need it, though there is no guarantee what price you will get.

Clearly, no-one should put all their spare cash into Property Partner (or any other investment platform). Nonetheless, it is certainly worth considering as part of a diversified portfolio. Not only are the rates of return significantly higher than those offered by banks and building societies, they are relatively unaffected by ups and downs in the stock market. Property investments aren’t a way of hedging your equity-based investments directly, but they do help spread the risk.

Welcome Offer

As an existing Property Partner investor, I can offer a special bonus for anyone joining via my link. If you click through this special invitation link, sign up and invest a minimum of £2,000 within 60 days, you will receive an extra bonus as follows (and so will I):

£2,000 – £30
£10,000 – £150
£20,000 – £300
£50,000 – £750

Not only that, once you are an investor with Property Partner, even if you only start with £250, you will be able to offer the same bonus to your friends and relatives and earn commission yourself. There is no limit to the number of people you can introduce through this scheme.

Obviously, this is a generous promotional offer by Property Partner and I assume it won’t be available forever. If you want to take advantage, therefore, don’t wait too long. I will remove this information if/when I hear the offer is no longer valid.

If you have any comments or questions about this review, as always, please do leave them below.

Disclosure: this post includes affiliate links. If you click through and make an investment at the website in question, I may receive a commission for introducing you. This has no effect on the terms or benefits you will receive. Please note also that I am not a professional financial adviser. You should do your own ‘due diligence’ before making any investment, and seek professional advice from a qualified financial adviser if in any doubt how best to proceed.

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Hands-off ways to invest in property

Hands-off Ways to Invest in Property

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As I said in this recent blog post, I am a fan of property investment, as part of a balanced portfolio.

Property investors typically get a double benefit: rental income from tenants for as long as they own the property, and – in most cases – a profit when the time comes to sell.

A further attraction of property investment is that it can be beneficial tax-wise. Any profit you make when selling property is likely to be subject to capital gains tax (CGT) but there are generous annual allowances you can take advantage of (£11,700 in the tax year 2018/19).

In addition, if you invest via a platform (see below), income from rent is typically paid as dividends, allowing you to take advantage of the separate dividends tax allowance (£2,000 in 2018/19). Even if your dividend income exceeds the annual allowance, most people will only pay 7.5% tax on dividend earnings up to £34,500 (2018/19 figure).

Property investment can also be a great way of diversifying a mainly equities-based portfolio.

One drawback with property investment is that managing a property and its tenants can involve a lot of work. So today I want to focus on a property investment platform that takes care of all this on investors’ behalf (for a fee, of course). This makes it truly a hands-off way to invest in property.

The platform in question is FJP Investments. They partner with experienced developers to offer a range of property investments suitable for high net worth individuals and “sophisticated investors”. I’ve listed some of the main investment options they offer below.

Buy-to-let

This is, of course, the traditional way to invest in property. FJP offer investment opportunities in the UK buy-to-let market as well as overseas.

Student Property

This is becoming a very popular investment opportunity. The market is growing rapidly thanks to a government policy change ensuring an additional 200,000 students will be seeking accommodation in the UK by the year 2020.

Hotel Rooms

This type of investment started in the USA and has since taken off across Europe. Investing in a hotel room is simple. You buy the hotel room and then sub-lease it to the hotel operator. They in turn manage the day to day running, along with generating bookings. All you have to do is sit back and collect your share of the profits.

Car Parking

This is another popular income-generating investment. Investors purchase one or more spots in a car park and then receive a share of the income generated via the operator, who manages it on investors’ behalf.

Car parks are typically at or near airports. This market is expanding rapidly, with passenger numbers set to increase by over 220% in most major airports in the next 20 years. A further attraction in some cases can be free parking at the car park in question.

Care Homes

This involves investing in care homes for the elderly and/or people with disabilities. It is an ethical option but nonetheless one that offers good potential returns. Britain has an ageing population and yet the number of care beds is on the decline. There has been a lack of investment in the care sector which has created a growing demand for nursing homes, and an acute shortfall in the number of available beds is expected by early 2020. There is therefore a huge need right now for care home investment. Investors can profit from this while contributing to the creation of more high-quality care home facilities.

Risk v Reward

The potential returns from property investment are a lot better than you would get from a bank savings account at present, with 10% and upward widely advertised. Clearly, though, there is a greater element of risk with these investments. For example, you are not protected by the Financial Services Compensation Scheme, which will refund up to £85,000 if a bank with which you have an account goes bust. On the other hand, your money is in bricks and mortar, so it’s unlikely you would ever lose it all.

In the case of FJP Investments, as mentioned earlier, they work in association with highly experienced property developers. They set great store by protecting their clients’ money, not least because  their reputation – and indeed their business – depends on this. They take the time to get to know their clients personally and help them choose investment opportunities from the range on offer that will meet their specific needs and goals. These are all, needless to say, hands-off investments.

It is, of course, vital to be aware of the risks associated with investing in property and only to do so as part of a balanced portfolio with assets in a range of classes, including readily available cash. Property can be somewhat illiquid and should therefore normally be regarded as a medium- to long-term investment.

Disclosure: This is a sponsored post for which I am receiving a fee. Please note also that I am not a financial adviser and nothing in this post should be construed as personal financial advice. Before making any investment it is important to do your own due diligence, and seek advice from a qualified financial adviser if you are in any doubt how best to proceed.

If you have any comments or questions about FJP Investments, or property investment in general, as always, please do post them below.

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Earn a Sideline Income as a Viewing Agent with Viewber

Earn a Sideline Income as a Viewing Agent with Viewber

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Today I want to share a sideline-earning opportunity that may be of interest if you have a bit of time available during the week or at weekends.

A company called Viewber is recruiting people to conduct property viewings on behalf of local estate agents who don’t have any staff free to do it themselves.

As a Viewber (the name is also used by the company to describe its viewing agents) you will be asked to attend a property at a specified date and time to show a potential buyer or tenant round.

You will therefore need to obtain the key beforehand (or get it from a key safe), welcome viewers when they arrive, and let them in. You then follow at a discreet distance while they look round, answer any questions they may have (or refer them to the estate agent), show them out, and secure the property again.

You are also asked to report in writing to the estate agent afterwards with any information you have gleaned about the viewers that might be useful to them, e.g. if they are cash buyers or have looked at a lot of other properties already.

Who Can Do It?

In principle anyone can be a Viewber. You need to be reasonably smart and professional looking (as with estate agents generally).  And, of course, you will need a polite and friendly manner and good communication skills.

The job is popular with retired and semi-retired individuals (like many readers of this blog) who are looking to supplement their income. It also attracts quite a few people who are ex-military or police, as well as former teachers, estate agents and other professionals. But any experience working with the public will be relevant and should assist your application.

Having your own transport is clearly desirable (though you can specify how far from home you are willing to travel). You will also need a mobile phone to contact the estate agents when required.

How To Apply

Initially this is just a matter of filling in a short online application form. 

Although this asks about experience and qualifications in the property field, this is definitely not a requirement (I had neither but was accepted without quibble).

You are also required to upload a photograph of yourself so that the company can see you don’t look like an escaped convict.

You can expect to receive a reply to your application within a few days. Mine came by email. I was accepted on the basis of my application and photo, without any need for an interview.

You will then have to go through the company’s vetting procedure. This involves providing a copy of your driving licence or passport and a recent utility bill or bank statement showing your name and address. You will also need to provide bank details, so they can pay you.

Once you’re fully approved, you will be able to log in to your personal dashboard on the Viewber website. Here you will be able to view a range of information, including details of any jobs you have completed so far. You can also enter on a calendar any periods you are unavailable (e.g. on holiday).

Then it’s simply a matter of waiting for invitations to arrive by email. You aren’t under any obligation to accept these if you’re otherwise engaged – but if you do want to accept, you will need to do so quickly, before the job gets taken by someone else.

What It Pays

The basic pay is £20 for a single viewing of up to 30 minutes. Additionally if you have to travel by car there is a mileage allowance of 25p a mile, or £4 travel allowance in London.

If you are conducting multiple viewings at the same time or an ‘open house’ you will be paid more, up to £135 for a full day.

Additional fees are payable for taking (non-professional) photos of the property if requested and other services such as performing a property inspection.

Top Tips

Here are a few more tips on making the most of this opportunity.

  • Both viewers and agents can rate Viewbers, and this can affect the type and number of opportunities you are offered. It’s important to provide the best service you possibly can, therefore.
  • You will be sent information about the property concerned beforehand, so read this carefully and make a note of any particular things a viewer might want to know about.
  • There is also an online manual for Viewbers, so again read this carefully. It’s only a few pages long but covers most of the things you need to be aware of.
  • Greet viewers by name and be prepared to answer any general questions they may have, e.g. about the area if you’re familiar with it. For more detailed questions about the property, though, refer them to the estate agent. If possible, phone the agent there and then on the number provided.
  • Take sensible precautions to ensure your personal safety, e.g. always let someone know where you’re going and how long you expect to be out. The Suzy Lamplugh Trust has a web page listing safety devices, apps and services for lone workers.

Viewber is still new, which means there are currently more opportunities in some areas than in others. However, that does mean now is a great time to apply and start gaining experience, with the prospect of more work in the coming months as the service gains traction among estate agents.

In my view, if you want an interesting and varied sideline income stream – and enjoy meeting people and looking round houses – applying to be a Viewber has a lot to recommend it!

Note: This blog post is adapted from an article I originally wrote for the Creating Wealth newsletter.

House image © Copyright Roger Cornfoot and licensed for re-use under this Creative Commons Licence

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Some Unusual ways to Profit from Your Garden

Some Unusual Ways to Profit From Your Garden

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Some older folk have a modest income but are lucky enough to have a decent-sized garden (and yes, that includes me).

If that applies to you too, there are a few ways you could profit from your garden, either directly or indirectly. One possibility would be to rent all or part of it as an allotment.

There is a big demand for allotments in many areas, a situation which has been exacerbated by councils selling off land to developers. Of course, that then creates demand from people who would otherwise have to wait years for a plot to come up.

You won’t make a fortune this way. On average, council allotments in Britain cost around £30 a year, so you won’t be able to charge much more than that. Nevertheless, if you can divide your garden into three or four plots, that would be £90 a year or more for no effort. What’s more, your garden will be tended on your behalf, and you’re quite likely to be offered produce your tenants can’t consume themselves.

If you’re not bothered about making money directly but would be willing to let someone grow crops on your land in exchange for a share of the produce (and maybe doing a few chores), the non-profit Lend and Tend organization may be able to help you. They put people with land in touch with others who might like to grow fruit and vegetables on it. They don’t allow landowners to charge fees, but plenty of other arrangements are possible. Here’s what they say on their site:

Got space to spare? Can’t garden? Find out who can!

Is your garden going to waste? 1000s of people are on waiting lists for an allotment and many people live in flats without a garden who are keen to garden. So, if your garden is looking unloved and you’ve no time or can’t garden,  let someone else love it instead.

Share your garden so a Tender can grow some produce, you may end up with an abundance of edibles where weeds are currently thriving. Share your skills with a keen garden Tender and teach them how to get your garden blooming again. Share the burden of garden work with a Tender so they can benefit from enjoying a garden too. Lend and Tend, make gardening friends.

It sounds a great idea and you can register as a would-be garden lender (or tender) via the website. There is no charge for using the service, but as they have some operating costs, the organization does say that donations are appreciated. If money is tight, however, they are happy to accept help publicizing the service as well!




Another possibility if you live in an area attractive to tourists – or near festival sites, racecourses, and so on – is offering your garden as a campsite.

Campinmygarden.com claims to be the world’s first website advertising private gardens as “micro-campsites”. They operate world-wide. You can advertise your garden for free on the site, including pictures and a description. You can also set a fee of your choice. Around £10 a night is typical, though if you can offer additional services (e.g. bed and breakfast) you could charge more.

The website has various interactive features, including a link allowing would-be campers to ask landowners any questions they may have. There is also an eBay-style reviews and ratings system.

Here’s an example listing for ‘Vic’s Place’ in Camborne, Cornwall:

We live between Camborne and Helston in a peaceful rural location. Our camping area is rustic and basic, in a lovely secluded setting which has a magnetic, soothing quality! A standard camper van can access our place but the gates are not wide so best check the width if you plan to come in a van.

Well behaved dogs and children are welcome. There are several water sources on the property so families with younger children must take extreme care. We only accept parties of four or fewer, in the interests of peace.

Just up the road there is a natural spring from which you can get water (or we will supply tap water) and there is a shared composting toilet available. A delightful stream runs by the camping ground. There is a fire pit and you are welcome to collect kindling and small amounts of wood from around and about.

The nearest pub is a mile and a half away by road or a twenty-five minute walk across fields. There is a small shop selling basic supplies in the same location.

Hope to see you soon!

For more information visit Campinmygarden.com

More Ideas

A few other possibilities include…

  • Sell produce from your garden (you may need a permit from your local council for this).
  • Offer your garden as a venue for weddings and photo shoots (see also my earlier post about making money offering your home as a TV /movie location).
  • Host an open garden event (the National Garden Scheme can help with this) or even open your garden to the public.
  • Offer your garden as a venue for parties (to avoid hassle, stick to alcohol-free children’s parties).
  • Hire out your garden to local art groups.

There are still more ideas in this article on the Money Magpie website.

If you know any other good ways to profit from your garden, please do share them below.

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