Page 25 - October 2023
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EXPERT ADVICE                                                       MOVING ADVICE

 Is now a good time to buy a home?  So you need storage – have you considered
                       using a removal company?
 ESPC Mortgages’ Shirley Mushet examines the data to explain how
 the increased base rate is affecting mortgages.  Steven McGregor, General Manager Scotland for Doree Bonner International
                      explains the benefits of using a removal company.
 s you’ll no doubt have seen in the news, the
 Bank of England is currently trying to get   hroughout  life, storage  needs inevitably   and  cost-effective.  They  not  only  pack  your
 A inflation under control. The way in which
             arise due to decluttering, renovations,
 they are doing this is to increase the base rate,   Trelocations, downsizing, among other   items, reducing damage risk, but also provide
                                             containers for packing at your home. In contrast,
 which has, in turn, increased mortgage interest   things. While self-storage units are popular, you   self-storage entails packing yourself, purchasing
 rates.
        may not know that reputable removal companies   packing materials, and arranging transportation.
        offer cost-effective, flexible storage solutions.   Many removal companies offer discounts for
 We now have a whole generation of homeowners   both moving and storage services, further
 that are used to super-low interest rates – however,   Steven McGregor, Group Manager of Scotland for   lowering your costs.
 how does this compare to years gone by?
        Doree Bonner International, a leading removals
        company, highlights the practicality of this   For those exclusively seeking storage, removal
 If we look back at historical base rate data (easily   choice: “At Doree Bonner, we maintain modern,   companies offer unmatched flexibility. You can
 sourced online), you can see how low this has been   purpose-built storage facilities adhering to British   deliver your belongings to the storage facility,
 from the end of 2008 until last year, when things   Association of Removers’ standards. Security is   request professional packing, or have them
 changed.  paramount, with 24-hour surveillance and alarm   collect your items. Removal companies can
        systems ensuring safety.”            accommodate storage for any size of home,
 So, is now a good time to buy?              and they can handle large items like cars and
 You have to question whether we will see the   A significant advantage of choosing this kind of   garden equipment.
 rates return to the 1% or 2% levels any time soon.   storage is the “pay-for-what-you-need” pricing
 If we consider that interest rates, despite the   model. Unlike self-storage units, where you   Choosing  a  removals company streamlines
 recent hikes, are still low in comparison to pre-  might pay for unused space, removal companies   insurance coverage. They provide comprehensive
 2008 levels, now is a good time to buy property   charge solely on the volume of storage required.  insurance from start to finish, while self-storage
 –  especially  when  we  are  not  seeing  the  same   may split insurance between moving and storage
 level of monies required over the Home Report   If you’re planning a move alongside storage,   phases, potentially leaving coverage gaps.
 valuation, in comparison to the last couple of   opting for a removals company can be convenient
 years.                                      Most removal companies offer competitive rates,
                                             with additional discounts for larger volumes or
                 UK Storage Solutions - Doree Bonner
 Get in touch with an ESPC Mortgages advisor to   long-term commitments. Consider contacting
 find  out  what  your  affordability  is,  and  what  your   your local removal company for a quote; you may
 monthly payments could look like.           find yourself pleasantly surprised.

                                             So, while self-storage units are the default,
 The initial consultation with an ESPC Mortgages adviser is free   responsibility is accepted for any errors which, despite our   exploring reputable removal companies’ options
 and without obligation. Thereafter, ESPC Mortgages charges for   precautions, it may contain.
 mortgage  advice  are  usually  £395  (£345  for  first-time  buyers).   can lead to greater convenience and savings. Their
 YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP   The Financial Ombudsman Service is available to sort out individual   expertise, security measures, and pricing simplify
 REPAYMENTS ON A MORTGAGE OR OTHER LOANS SECURED   complaints  that  clients  and  financial  services  businesses  aren’t   storage, while keeping your budget in check.
 AGAINST IT.   able to resolve themselves. To contact the Financial Ombudsman
 Service, please visit www.financial-ombudsman.org.uk.
 The  information  contained  within  this  article  is  subject  to  the
 UK regulatory regime and therefore restricted to consumers   ESPC  (UK)  Ltd  is  an  Appointed  Representative  of  Lyncombe
 based in the UK. It has been provided in good faith. Whilst every   Consultants Ltd which is authorised and regulated by the Financial   For more information Doree Bonner are delighted to share with you their new storage video which can be found on the following
 care has been taken in the preparation of the information, no   Conduct Authority.   link. https://youtu.be/qmJzS-GG71A   |   Tel: 0131 654 1200   |   Email: ESPC@dbonner.co.uk   |   Web: www.doreebonner.co.uk
 24  |  espc.com                                                           espc.com  |  25
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