Many people are on fixed-rate mortgages right now, and with the current rise in the base rate, it’s a good thing because it means your mortgage will not increase. But what if you want to move now and take advantage of the huge choice of inspiring homes available, and your mortgage deal is coming to an end?

Why another increase in the base rate?
The Bank of England raises the base interest rate to curb inflation. Inflation is the increase in the cost of goods and services, or the cost of living. The idea is that an increase in interest rates means more people will save instead of spending, which reduces inflation as there is less demand for goods and services. The rate of inflation is still way short of the Bank of England’s 2% target, but the bank expects inflation to fall to 5% by the end of this year.* There are a few reasons for this. Wholesale energy prices have fallen, and the price of imported goods is expected to fall as production issues are resolved and there is less demand for goods and services in the UK.

Here are a few things you can do now:
Interest rates may be a little on the high side now, so if you take out a mortgage now, there is nothing to stop you from changing your deal in a couple of years when rates are more favourable. In the meantime, here are a few options for you to consider:

• The Mortgage Guarantee Scheme: extended until the end of December 2023, this government-backed scheme has helped over 24,000 households get on the property ladder.** Its aim is to help people with a 5% deposit, and it was launched in April 2021. Aimed at first-time buyers, it’s similar to the government’s Help to Buy scheme, which ended earlier this year. So, if you want to take advantage of it, you need to be quick.
• 35-year mortgage deals: increasing the term of your mortgage could bring down the cost of your monthly mortgage payments. You may pay more interest because you are taking longer to pay for the home you want, but a property that may have been out of reach may suddenly be in your grasp.
• 100% mortgages: saving your deposit is often the biggest challenge to getting a footing on the property ladder. With the return of 100% mortgages, you no longer have this hurdle, and that will save you a lot of time, meaning you can start paying off your mortgage sooner rather than later.
• Interest only mortgages: another option to consider is an interest only mortgage, which could lead to much lower payments. If you have a lot of equity in your home, this could stand you in good stead when it comes to buying the home you want now.
• Green mortgages: many mortgage lenders now offer more competitive mortgage interest rates for greener, more energy-efficient homes. This, combined with lower energy bills, means that you could save significantly on your monthly outgoings. This means that the EPC rating of your home has never been more important.
• Consider porting your mortgage: porting allows you to move home with your existing mortgage. So, if you are happy with the terms of your current deal and it’s not about to end any time soon, then this could be a cost-saving solution. You may be able to borrow more, as many high-street lenders offer top-up mortgages. Speaking with your broker is important, as some lenders’ rules may differ.
• There is always a way: it could be that you are in the fortunate position of not needing to borrow or are on a fixed-rate interest deal. With the huge number of mortgage deals available and inspiring choices in properties, it’s worth talking to your agent if you are determined to make your move now.

 

Browse our website if you are looking for the right home with the best possible team to guide you in any way we can.

 

Bank of England*
GOV.UK**

 

In June, average new seller asking prices fell by £82 (-0.0%).* The summer property market always heats up and then takes a little sidestep as the holiday season kicks in. However, the average price of a property coming to the market jumped in May by +1.8%, which was higher than expected.* This is yet another sign the summer property market is performing well, and now is still a good time to choose the home you want. But how does this act as a breather and benefit the market?

Buyer demand
During the first two weeks in June, buyer demand was 6% higher than the same period in 2019’s pre-pandemic market.* So if you are thinking about putting your home on the market, now is a great time to do it. Prices are still strong, and your property will have increased rapidly and significantly in value over the past few years, so you will achieve a great price.

The property market takes care of itself
It’s not always healthy for asking prices to constantly grow month after month. The summer property market is hot enough, and it’s better for it to be stable rather than overheat. A little splash of modesty reassures the market and simply brings it back to where it should be if the market gets ahead of itself.

The property market takes care of you
The market has had a lot of challenges, yet it remains resilient. As it slows in pace, this creates a much more predictable environment. This means sudden changes are unlikely, meaning you will not get caught out when achieving a good selling and asking price when you are in between homes.

Better negotiating power
When the market pauses and it’s time to make an offer, you have a better chance of getting well-calculated offers accepted. Your agent will know the market inside and out and can advise you on an up-to-the-minute pricing strategy.

Does the price really matter?
Price and affordability are very important when considering which home to buy, particularly if you are taking out a mortgage. The value of property increases and decreases slightly in the short term but always rises significantly in the long term. So in many ways, it’s about affordability, not property price rises.

Can you put a price on happiness?
Finding the right home that suits your needs and desires is important. You will most likely spend many years of your life in your new home. Your property is more than bricks and mortar or an investment; it’s a living, breathing part of the family.

The law of averages
You are not a number, and neither is your home. Each person’s home is as unique as they are. It could be that you surpass all your property expectations. Whether this is from achieving a great asking price or simply finding a home that fulfils your dreams for a lot less than you imagined. As the market stands, it’s not about making quick money but rather buying an awesome property and making the most of it.

 

Browse our properties to view the homes you could be missing out on.

 

Rightmove*

 

The early summer months are traditionally a busy period for the UK property market. It’s a gorgeous time of year to view an abundance of beautiful properties. Many people are on the move. While it’s still a hive of activity with a huge choice of homes, the property market takes a little summer siesta as homeowners take a holiday. This gives you a chance to make your move. But don’t be fooled into thinking it will last for long, so if you want to take advantage of it, you need to be quick.

View your ideal home from the beach
Sometimes getting away from it all can help bring about clarity of mind, which is very useful when you are making big decisions. Perhaps the beach or poolside is the perfect place to peruse your potential properties. And a good time to discuss your big move with your partner while you are away from the hustle and bustle of everyday life.

Enjoy quieter roads to your new home
With schools closed for the summer, the roads become quieter, and you can drive to viewings with less stress. This means you can relax a little more and take a bit more time to enjoy your viewings. With an increased sense of calm, talk to your agent, who will expertly guide you through your potential new home and anything that helps you with your home move.

Leave your agent to sell your home while you take a holiday
Hop on a plane, boat, or if you’re jumping in the car to drive to your holiday, whatever you are doing if you have made the decision to sell, leave it with your agent and enjoy your holiday. Perhaps by the time you return, your house will be sold.

Make an offer with less competition
With fewer people around, you may be able to open the door to making an offer below the asking price and getting it accepted before others have even viewed the property in question.

It’s the perfect moving season
With more family members to assist your big move and longer, warmer days to enjoy once you are settled in, the summer is perhaps the best time of year to move. And you may be able to save some money on home removal costs with more hands to help. If you hire a removal company, you may find it easier to find the right help.

Enjoy your new home
When you have finally moved into your new home, you may still have time to make the most of it during the warmer months of the year, when utility bills are a little lower. Any outdoor improvements, from weeding the garden to adding to your outdoor spaces and simple maintenance, can become a joy rather than a chore.

 

Take advantage of the summer holidays and find the home you love. Browse our properties.

 

Rightmove*

 

Preparing your home so that you can create priceless happy memories during the summer months ensures all members of the family are free to roam and play in a safe and fun environment. It also reduces stress levels when younger members of the family spend more time at home and can become a rowdy bunch when not at school. And if, like many people, you are considering moving to a better home, keeping it in order will help you achieve your moving goals. So, here are a few tips to help you make life easier.

Create some space
A change is as good as a rest, and moving and rearranging the furniture in your home to make it safer for your little ones to play will also showcase your indoor spaces for potential buyers. It may also give you some ideas on how to make better use of the rooms in your home while clearing out any no longer needed or tired furniture and other items.

Clean and de-clutter
It’s incredible and sometimes hard to believe how much space the little things in life take up. From bottles to utensils on kitchen worktops—things that you want to be out of reach of curious children—to old mail and the never-played-with-any-more toys. Cleaning is something you will be doing a lot of at this time of year, so why not go to town and clear out the closets and give everything a good clean? This will make it easier to maintain levels of hygiene, and cleaning up after the kids will be much easier. Your home will also look and feel more appealing during viewings.

Create a list of activities
By being organised, you can plan your day to fit around viewings. This will help prevent boredom for you and your family! It also gives you the means to plan your day and break different activities into manageable chunks, giving you all something to look forward to.

Sort your outdoor spaces
These are hugely important to buyers, and they need to be safe with no sharp edges for your buyer’s family as well as yours. Creating a perfectly amenable family dining area will give you a great place to enjoy happy alfresco memories. Outdoor spaces should naturally create a seamless flow from the indoors to the outdoors. If your home is very much a family home, perhaps a tree house could mean the new owners bought two homes for the price of one.

Make the most of your garden
There is little chance the children will want to help you these days! But if they do, what a bonus! That said, even if you are not a keen gardener, you could inspire younger members of the family with interesting flowers or fruit trees. Weeding and lawn cutting are a must to make the most of your garden’s appearance, but no prizes for guessing who will get that responsibility.

Will all this help you sell your home?
Absolutely; it’s all about achieving your asking price. And the numbers in property are big, so every little thing you do adds up to make a big difference.

 

Get in touch to see how we can help your family create a thousand wonderful memories by finding your perfect house.

 

 

 

 

It’s worth talking to your agent this August as the housing market is in good shape for many reasons. So, whether you are on holiday or looking for a holiday home to buy, downsizing or moving to something better, here are a few good reasons to do so.

Every home is different
The location of your home is important, as is the property type. First-time buyer-type homes, for example, have been selling very well. But with all that said, your individual home stands for a lot too. Every home has its own personality and unique features that make it desirable to a buyer. And the chances are, if your home is in any way attractive to certain buyers, they will not be alone.

Demand for your home is strong
Buyer demand is 3% higher than it was in 2019.* It’s completely unfair to compare these figures to the unsustainable levels during the pandemic. But every cloud has a silver lining, and much of that rapidly gained equity will still be in your home. This means that if there is a crash, you are still in a good place.

Your situation is unique
The number of homeowners who own their homes outright in the UK stands at 35%, while the number of homeowners with mortgages stands at 30%.** If you are one of the majority that does not have a mortgage, you may be less apprehensive about making a move now in the face of fluctuating interest rates.

The long-term view looks good
In the long term, house prices increase, and if you are concerned about the short-term fluctuations in price, they will be absorbed by the long-term increase in the value of your home.

How much time have you invested in your property?
Many homeowners in the UK who buy a home will live in it for well over ten years. So, if you bought your home before the pandemic, you have a double layer of accumulated equity to fall back on. Many people are in this situation, and this, combined with good demand, sures up the property market.

Home movers are on holiday
With so many people enjoying their holidays at this time of year, the market may lose a bit of momentum. So often, these changes in price can come about because of seasonality. Now is a good time to get out and have a good look at the home you may want to move into. There is a lot of choice, and with the market being less frantic, you may have more flexibility when it’s time to make an offer.

Conclusion
So, what does this price change mean? Not a lot, and with years of equity, you are in a good place even if there is a sudden drop in prices. But as things stand, prices are steadily declining only slightly, which means you will not get caught out in the middle of your move. After all, you want to live in the home you want; you are not playing the stock exchange.

Contact us today to see how far your money could go towards buying your property dream

 

Rightmove*
English Housing Survey**

 

 

 

If you’re in the market for a new home this summer, you’ve timed it just right. According to data from Rightmove’s house price index, this summer saw the highest number of homes for sale in eight years.* As a result, it comes as no surprise that sales increased by 13% between May 2023 and May 2024.* Additionally, because the number of homes for sale has increased at a slightly faster rate than sales agreed, there is a strong supply of available homes for sale.

Why is the market growing?

Post-pandemic rebound

The economy has recovered after taking a hit during the COVID pandemic, and as a result, we are seeing a rebound in housing market activity. Homeowners who may have put off selling their home during the pandemic now feel more confident in putting their property on the market.

Lower mortgage rates easier

The decrease in mortgage interest rates is another factor contributing to the high number of homes for sale. With interest rates falling in 2024, many potential buyers are taking advantage of favourable borrowing conditions to buy a home. This increase in demand has led to more homes being listed for sale as sellers look to capitalise on the surge in interest.

Stable prices

Despite the increase in the number of homes for sale, property prices have remained relatively stable. This has provided a sense of assurance for both buyers and sellers, creating a balanced market where transactions can occur smoothly. The stability in prices has encouraged more homeowners to make their move, knowing that they can achieve a fair value for their homes.

How does this benefit buyers?

Increased options

With the highest number of homes for sale in eight years, buyers now have a wide range of properties to choose from. This means they are more likely to find a home that fits their specific needs and preferences.

Less competition

A surplus of homes on the market means less competition among buyers. This can result in a less stressful homebuying experience, as buyers may not need to rush into making an offer out of fear of losing the property to another buyer.

Potential price reductions

In a busy market with a high level of supply, sellers may be more willing to reduce their asking prices in order to attract buyers. This presents an opportunity for buyers to receive a good deal on their dream home.

How does this benefit sellers?

Faster sales

While an increase in available properties may seem like bad news for sellers, it can actually lead to quicker sales. With more options available, motivated buyers are more likely to make a decision and move forward with a purchase.

Increased exposure easier

More homes for sale means more listings for buyers to browse through. This increased visibility can benefit sellers because it attracts a larger pool of potential buyers to their property.

Competitive pricing

By pricing properties competitively, sellers can take advantage of the abundance of homes on the market. Sellers who set a reasonable asking price may attract more interest and receive multiple offers.

How a good agent can help you

As a buyer, a good agent can help you find your dream home among the abundance of options available. They will listen to your needs and preferences, then use their expertise to narrow down the search to properties that meet your criteria. An experienced agent can also help you make an offer, secure a mortgage, and close the deal. As a seller, you can benefit from an agent’s in-depth knowledge of local market trends as they help you price your property competitively to attract the right buyers. A reputable agent will also handle all the negotiations and paperwork, taking the stress out of the selling process.

 

Book a valuation today to start your move

 

Are you on the market for a new home? Well, when purchasing a property, you always want to be confident that the asking price matches the value. Easily identify this by commissioning a home survey on your potential property purchase.

 

What is a home survey?  

 

A home survey is where a professional property surveyor conducts an expert inspection of a property's condition. The surveyor completes these inspections to identify potential future problems and costs for the prospective buyer, and then delivers the results in a report. A home survey typically occurs after the acceptance of an offer (Scotland's property market differs). Surveyors should be members of one of the two primary accrediting bodies: the Royal Institution of Chartered Surveyors or the Residential Property Surveyors Association. Before contracting for a home survey, you should always check to see if your surveyor is a member of either of these.

How long does a home survey take?  

The amount of time a property survey takes depends on the size and condition of the property, as well as the type of survey you choose. It can take from one hour up to an entire day to complete a survey report. Normally, you will receive your property survey report 5 to 10 days after the survey's completion, allowing you to proceed in the buying process with confidence.

 

Is a home survey important?  

When purchasing a property, you tend to try and avoid extra expenses, but a home survey is an extremely important part of buying a property. Surveys allow you to understand the entire property, making you aware of future problems and costs, so you can make an informed decision to continue with the purchase or negotiate with the seller and potentially reduce the property price.

 

Which home survey should you get?
When completing a property survey, there are various types of surveys to choose from. You choose the type of survey depending on the property’s age, condition, and your personal preference.

Level 1 property survey: this is the most basic type of survey, where a traffic light system highlights issues, but the report doesn't delve into detail. This is great for a young, modern property if you want to ensure everything is up to the expected standard. Level 1 surveys start at £500.

Level 2 property survey: this is a middle-level survey that most people choose. This survey will evaluate the property’s condition and highlight problems that could affect its value. This survey will also include advice for repairs and maintenance. Level 2 surveys start at £600. Level 1 and 2 property surveys are non-intrusive, so they will only highlight surface-level issues; they will not move furniture or examine the property's structure.

Level 3 property survey: this survey, of course, is the most thorough analysis of the entire property’s building structure and condition. This survey is commonly used for older, character buildings that are over 50 years old or for properties in poor-kept conditions. The overall report will provide extensive details, including recommendations, estimated costs, and a timeline for any necessary work. Level 3 surveys start at £750.

New-build snagging survey: this type of survey is perfect for new build homes. Usually, you wouldn’t have a home survey completed on a new build, but a snagging survey can help identify small faults and cosmetic issues. You can deliver your snagging survey report to your builder, and they will resolve any issues highlighted as soon as possible. A snagging survey starts at £300.

 

Is a mortgage valuation a property survey?  

When you apply for a mortgage to purchase a property, the mortgage lender will carry out their own valuation on the property. This can sometimes be misleading and be seen as a ‘property survey’, but the mortgage lender's valuation is nowhere near as detailed, and sometimes they won’t even enter the home.
Always arrange your own survey on a potential property purchase so you can be confident that you aren’t overpaying or purchasing a new home with future problems and costs.

 

How can you find a surveyor?  

You can easily find trusted surveyors through local estate agents, your mortgage lender, or even recommendations from friends and family. Once you've identified your surveyor, it's crucial to thoroughly review the terms of engagement to understand their responsibilities and the timeline for completing the survey and report. Always make sure you have direct contact with your surveyor, so you can always ask questions if anything remains unclear.

 

Ready to sell and find your new dream home? Book a free, in-person valuation

 

One of the most important components when selling your home is the expert agent valuation. It will inform you of your property’s value and a potential asking price you could set when placing your property on the market.

In this article, we discuss how your property is viewed and valued in a home valuation, allowing you to gain a better understanding of how an expert agent determines your home's overall value.

Is a home valuation important?

Home valuations can affect the entire selling journey of your property, so you need to ensure they are achieved correctly. If an inaccurate valuation is completed and it’s reflected in the asking price, this could delay the sale.

The first ten days of your property on the market are the most important, as it will receive the most interest during this time. So, with this in mind, it’s crucial to ensure you have an accurate, fair representation of your home’s value in the asking price.

Knowing your home's true value can provide you with a clear budget for searching for your next home, as well as allowing you to identify the current equity within your property if you were to sell.

How does an expert agent value your property?

The expert agent will use their own experience and knowledge of the local market, along with five main physical components, to determine the value of a property.

• Location
• Layout Size
• The property's condition
• Unique features

Ultimately, the interior and exterior of your home plays a huge part. If you have a beautiful, private home with incredible characteristics and uniqueness, its value will be higher than that of an average neutral-looking home that is the same size and location.

Another huge factor is location; this determines the local amenities, schools, opportunities, and jobs the property could provide, adding value.

When valuing a property, agents use the price of comparable homes that have sold in that area as their main guide. This allows agents to identify what potential buyers are willing to pay, helping to understand the local supply and demand for property.

A combination of various factors, including your personal circumstances and the current state of the surrounding property market, will determine the value of your home.

How do you decide which agent to go with?

Choosing the right agent can be a daunting process, as your home is your most valuable asset, so shop around and speak to a variety of agents. Never choose an agent based on how much they value your home, as some agents will quote you a slightly higher value than they believe simply to get your business.

It's critical to have a connection with your chosen agent, as you will spend a lot of time with them, and you want to make sure they love and respect your property as much as you do. Trust your gut, don’t rush, and ensure you like the agent you will be working with. By working with us, we can offer support from your first home valuation all the way to exchanging contracts and discovering your next dream home.

 

Book a free, in-person valuation today and allow us to support you throughout your entire selling journey

 

 

 

Increasing your return on investment is in your interests as a landlord. Property improvements can lead to bigger capital returns, and higher rental revenue. Here are some different improvements that could do this without breaking the bank.

Get to know your target audience  

Targeting your property to young families means improving different parts of your property than that of a student let for example. Family-oriented homes will benefit from improved garden spaces and a bigger kitchen with good seating. Young professionals and students may appreciate smart home technology. It is worth noting that going down the HMO (Home in Multiple Occupancy) route for a student let, requires significant investment, however, could increase your rental revenue significantly.

Give your property real street appeal  

First impressions do last, and if your property sets the right tone from the beginning, then your tenants, future buyers, and tenants’ neighbours will appreciate it. This will maintain a good reputation for you and your property. A weed-free front lawn, painted fence, gate and front facia guarantee your tenants a nice welcome home and can increase tenant satisfaction.

Make the most of outdoor spaces  

If your property has a large or small outdoor space, make the most of it. Nice outdoor spaces are becoming expected and add a lot of value because they are highly sought-after. Comfortable seating will make a big impact and work well with low-maintenance gardens. Leaving a little room for your tenant’s creativity so they can add a homely feeling is also important. Adding French doors or slide walls as part of bigger renovations could help increase rent significantly. Conversely, if space is extremely limited, think outside the box. For example, an eggshell chair, a vertical garden, or a matching two-seater dining set can make a big difference.

Increase the energy efficiency of the property

Anything that reduces the cost of energy for your tenants will most likely increase the level of demand for your property. LED lighting, better insulation, or a more water-efficient shower head are minor improvements which can have a major impact. Better radiators can help to modernise the appearance of rooms and also increase efficiency. If you want to make bigger, greener investments, solar panels, which can sometimes produce enough electricity to sell back to the local grid, as well as supply your property, could be a worthwhile investment.

Improve the kitchen or bathroom  

Deciding which is more important largely depends on the condition of each. But improving the property’s kitchen or bathroom will make a big impression. You may decide to complete an entire refurb on both. If your property’s bathroom and kitchen need attention and there is only enough in the budget to refurbish one from scratch, don’t worry. There are lots of less costly things you can do to make improvements. From regrouting and re-caulking between tiles, to repainting, new flooring, and better lighting. These can give a new lease of life with relative ease and will make the property in question highly desirable.

Create some space  

While most people like a feeling of cosiness, especially during the winter, dinginess is much less in demand. Knocking down walls and opting for an open-plan layout can modernise your property while creating space. More light and more room could equal more rent. It’s important to budget for bigger renovations and have the correct level of paperwork from building control. That said, wall removal is not very high in the cost scale of home improvements. If your property is furnished, create space by choosing furniture and its arrangement that works best with your property’s floor plan. Sourcing furniture on social media or through a charitable organisation could potentially save you thousands.

 

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