Tag Archives: London

The Difference In Rental Paid Between Furnished And Unfurnished Properties

Furnished Whether you are a landlord or a tenant, you may be interested to read about some research that has been carried out that looks at the difference charged by landlords for furnished and unfurnished two bedroom flats in different cities in the UK.

There are pros and cons of both types of property lets for both tenants and landlords such as a furnished property may appeal more to a single tenant who is moving around the UK on a very frequent basis as he or she may not want to be bothered with the prospect of having to move their furniture frequently. However, a family looking for a long-term rent may prefer to bring their own furniture with them every time they move. A landlord may find it easier to rent out a furnished property and the additional rental income emanating from a furnished property may far outweigh over a period of time the initial financial outlay of buying the furniture and white goods.

The city in the UK where there was the biggest difference between the rental income charged on furnished and unfurnished two bedroom flats was Sheffield. The difference in that city was an average of 21%. A furnished property was being rented out at an average of £726 per calendar month whereas an unfurnished property was being rented out at an average of £598 per calendar month – a difference of £128 per calendar month.UK MAP

In London the difference was 9% with this equating to an extra £128 per calendar month.

In Birmingham there was a difference of 20% that, in monetary terms, was an extra £127 per calendar month.

In Manchester there was a difference of 15% that equates to a price difference of £101 per calendar month.

In Cardiff there was a difference of 7% that equates to a price difference of £50 per calendar month.

In Glasgow there was a difference of 13% that equates to a price difference of £86 per calendar month.

Whether you are a landlord looking to arrange buildings and contents cover on either a furnished or unfurnished property or are a tenant looking to arrange cover on your own contents and personal belongings in an unfurnished property then why not make contact with us here at AIB Insurance on 02380 268 351 and speak with a friendly, knowledgeable member of our team. He or she will discuss your requirements and arrange for you to receive a competitive quotation from one of the insurance companies on our extensive panel.

Plum Underwriting Added To Panel

Plum UnderwritingWe are pleased to announce that Plum Underwriting Ltd has been added to our carefully selected panel of insurers. It is worth noting that we undertake a great deal of due diligence about those wishing to be included on our panel.

Plum Underwriting Ltd is located in London EC3 and was set up in 2002 initially to concentrate on the home insurance marketplace. It now tends to focus on specialist and non-standard commercial and domestic properties in both the UK and the Republic of Ireland.

For instance, all risks home insurance can be arranged on the likes of high and medium net worth owner occupied properties. Cover is automatically included for things like cyber cover, legal expenditure, home emergency and identity theft for the later type of properties with travel insurance also being included for high net worth homes.

If you are going to have renovation works carried out on your home or your business’s premises then Plum Underwriting Ltd can arrange specialist cover providing complete peace of mind.

Cover can also be arranged for unoccupied properties and holiday homes and insurance can also be provided for landlords looking to insure their let properties.

A non-standard home insurance policy can be put in place for people who may otherwise have found it difficult to arrange cover. For instance, those who are bankrupt, properties that have suffered with subsidence, those in danger of being flooded and homes of a non-standard construction.Home

The company has built an enviable reputation for the level of customer service it provides and the range and quality of products that are competitively priced. We have to say that our dealings with Plum Underwriting Ltd have been excellent. We look forward to that relationship continuing for many years to come that can only benefit our clients.

You can find more information about the company on their website www.plum-underwriting.com

For bespoke home insurance why not get in touch with us here at AIB Insurance on 02380 268 351.

Home Insurance Premiums Rise In 2016

Unfortunately, according to the most recent AA British Insurance Premium Index that looks at the average of the 5 cheapest premiums, there has been an increase in the cost of obtaining home insurance last year. This comes on top of higher fuel prices seen at filling stations and an increase in motor insurance premiums.Home Insurance

In the space of 12 months, the cost of buildings cover rose to an average of £114.43 per annum in the final quarter of 2016 from an average of £106.36 per annum in the last quarter of 2015 with this equating to an increase of 7.6%. Between the third and fourth quarters of 2016 such cover rose in cost by 1.1%.

In the space of a year, the cost of contents cover rose to an average of £60.69 per annum in the last quarter of 2016 from an average of £58.67 per annum in the last quarter of 2015 with this being an increase of 3.5% although, interestingly, the cost of such cover between the third and fourth quarters of 2016 actually dropped by 5.7%.

In the space of 12 months, the cost of combined buildings and contents insurance rose to an average of £157.27 per annum in the final quarter of 2016 from an average of £150.67 per annum in the last quarter of 2015 with this being a rise of 4.4%. Between the third and fourth quarters of 2016 such premiums rose by 0.3%.

London and the South East is the region in the UK where it costs the most for a combined buildings and contents insurance policy with the average premium being £165.93 per annum in the final quarter of 2016. The West and West Country is the least expensive for this type of cover in the same period with the average premium being £146.58 per annum.

Here at AIB Insurance, we have an extensive panel of insurers offering buildings and/or contents insurance. So, why not get in touch with a member of our team on 02380 268 351 to discuss your requirements and obtain a quote without any obligation to see if we can save you any money on this valuable type of cover.

Overseas Millionaires Favour London When Buying Second Homes

LondonAccording to research carried out by Wealthinsight, it found that London is the most popular city in the world where millionaires from abroad decide to purchase a second home. This probably does not come as a surprise to many of you but it is still great to hear that this is the case as such people no doubt benefit our economy as they probably spend a considerable sum of money whilst visiting the capital city.

Apparently, London is favoured by millionaires residing in other European countries as well as Russia. More people living in the later country buy a second home in London than from any other country. Perhaps some come over to avoid the harsh winters encountered there. Residents of the USA also love to buy second homes in London – no doubt appreciating the historic buildings and architecture. Millionaires from African and Middle Eastern countries also invest in buying homes in London. Many of them love to come over here during the summer months of July and August to avoid the extremely high temperatures in their countries.

The research also found that very few overseas millionaires would look to buy a second home inLondon the UK that is outside the South East of England and London. They are no doubt attracted by all that London has to offer such as an extensive array of designer shops, wonderful theatres, the history of the place and, of course, the many fine-dining restaurants. It is interesting that such people focus on London when purchasing a second home in the UK because there are three cities in the USA that appear in the top five cities that overseas millionaires choose to buy a second home in.

Another interesting fact was that, although London was the most popular city in the world for overseas billionaires to buy a second home to live in for short periods, when it comes to looking at the number of billionaires actually residing permanently in a particular city in the world, London was in fourth place. The city that has more billionaires living permanently in it is New York, followed by Moscow and then Hong Kong.

Here at AIB Insurance, we have insured many expensive second homes in the UK. So, why not get in touch with us on 02380 268 351 to discuss your requirements and obtain a competitive quote.