According to the latest research from Bank of Scotland, detached home owners in Scotland looking to downsize could be in line for a potential windfall of over £100,000 if they trade down to a semi-detached property. Those planning to move from a detached properly to a bungalow could raise an average of £66,000. Scots more likely to benefit from downsizing than those around the UK For those trading down, the potential amount that can be raised by downsizing from a detached property to a bungalow has risen by 14% (or £8,365) over the past decade; a downsizer today would receive an average of £66,190; compared with £57,825 in 2005. The UK average growth is 2% (or £1,616), allowing Scots to realise a greater benefit from the move. The potential amount of cash Scottish homeowners could raise by downsizing their property from a detached home to a semi-detached stood at an average of £100,778 in 2015; an increase of 12% (£10,469) since 2005. (See table 2) While Scots will be pleased to see a double digit percentage increase in windfall over 10 years, home owners in the South West of England and East Anglia have seen even high percentage increases over the decade. Three Quarters Expect to Benefit Financially from Downsizing Across the UK, downsizing is the most popular reason for people looking to move to a new home in the next three years, with 46% of those surveyed citing that as a reason. The main reason people cited for downsizing was to move somewhere which better served their circumstances (53%). Other reasons given were to reduce bills or free up equity (both 39%), or to provide extra cash for retirement (31%). The average age for a downsizer was 53 and the largest proportion (37%) had lived in their current property between 11 and 20 years and had moved into that property at the age of 39. A fifth said that they were downsizing earlier than they had anticipated, citing reasons such as health, changes in relationship status and need to be closer to better local amenities. A third also said that they were planning to move to a more affordable area. Three quarters of those downsizing said they expected to profit from their move, with 35% saying that they planned to reinvest their additional capital in a new property. 29% said that they would invest in other financial products, whilst only one in five (21%) planned to invest in their pension or pass the earnings on to their family. Nicola Noble, Bank of Scotland’s Mortgage Director, said: “Double digit percentage growth in windfall over a decade is great news for Scots considering downsizing. It’s interesting to see that a large proportion of downsizers are planning to reinvest the profits from trading down into a new property, rather than pensions or other financial products.” Downsizing is also healthy for the market, as it helps keep it moving and frees up larger properties for younger families who may be about to take their next step up the ladder.” 10 Year % Change in Downsizing Windfall: Detached to a Semi   Downsizing windfall, 2005 (£) Trading down windfall, 2015 (£) 10 year % change 10 year £ change Scotland 90,308 100,778 12% 10,469 South West 109,687 130,654 19% 20,967 East Anglia 88,177 101,878 16% 13,702 East Midlands 92,097 103,416 12% 11,319 West Midlands 115,726 123,624 7% 7,898 Yorkshire and Humberside 108,594 115,792 7% 7,198 Northern Ireland 61,073 68,005 11% 6,931 Wales 89,784 95,178 6% 5,394 North 90,957 92,651 2% 1,694 South East 178,668 178,904 0% 236 North West 115,499 105,695 -8% -9,804 Greater London 272,721 201,052 -26% -71,669 UK 115,970 117,230 1% 1,260 Source link

Materials firm Sika has a new screed system that it says makes it easier and quicker to finish floors. Above: Fast setting screed SikaScreed P-24 is the latest addition to the extensive Sika cementitious range. It sets rapidly enough to walk on in three hours and overcoat in 24 hours. Compressive strength is 30N/mm2 and flexural strength is 5N/mm2. It can be installed in a range of thickness from 25mm to 90mm, says Sika.     Further Images This article was published on 9 Feb 2016 (last updated on 9 Feb 2016). Source link

The Scottish Government should seize the chance of a new review into building standards to make sure that its own approved certifier schemes become mandatory across the construction industry. That was the view last night (Nov 14, 2017) of SELECT, the campaigning body for the electrotechnical trade in Scotland as it responded to the Review Panel on Building Standards (Compliance and Enforcement). The review was prompted by an independent report into the closure of 17 Edinburgh schools last year after the collapse of a wall at Oxgangs Primary, and the subsequent tragic events this year at Grenfell Tower in London. SELECT welcomed the review panel and said that it looked forward to working with the relevant bodies with a view to helping to introduce real change into the Scottish building standards system. Dave Forrester, Head of Technical Services at SELECT, said: “Parts of the building standards regime work very well at the moment. Technical standards, for instance, are flexible enough to accommodate change and innovation. “However, there are a number of issues surrounding approved certification which we think the review could profitably address in order to remove anomalies and build confidence in the certification process.” Mr Forrester pointed out that approved certifiers are directly responsible for the work that is certified under a building warrant. Local Authority Building Standards Scotland (LABSS), the membership organisation representing verifiers, has issued guidelines regarding certification services. Some local authorities, however, are still either unaware of or ignoring the LABSS guidance and accepting forms of certification without detailed scrutiny. Mr Forrester said: “The review is an excellent and thoughtful response to the issues raised by recent tragic events. It is an opportunity to really consider the regime of compliance and enforcement and to embrace meaningful change. “This is the ideal moment to make it a mandatory requirement to use the existing approved certifier schemes, particularly for Government-funded work, and to extend the process to all Schedule 3 work [work subject to building regulations but not requiring a warrant].” SELECT, Scotland’s largest trade association has over 1250 member companies who account for around 90% of all electrical installation work carried out in Scotland. They have a collective turnover of around £1 billion and provide employment for 15,000 people.