The real issues we are facing at present, as mortgage brokers, are the ever-increasing demand for mortgages, fuelled by the Stamp Duty Land Tax holiday and coupled with the fact we have demand outstripping supply. Estate Agents continue to talk up the property market and this is fuelling increased property values and thus creating an artificial price bubble. We also have buyers desperate to purchase a home, maximise their borrowing power due to so much uncertainty, or simply looking to […]
Following the Government’s announcement on 12th October, which introduced the three-tiered system, there have been questions raised about how this affects buying, selling and renting homes. We understand that many of your clients may feel unsettled during this time, but the good news is that you can still move home if you’re in a high alert level area. Further guidance has now been issued and financial advisers, estate and letting agents and removals firms can continue to work, and people […]
Following recent Government announcements, in respect of re-opening the Housing Market, valuers are now permitted to carry out physical inspections of properties in England where government guidelines and safety assessments can be adhered to. Thankfully, this will now mean all those mortgage applications stuck on hold with lenders, because a physical valuation was required, can now progress and hopefully move to offer and completion. Colin, Director at Riviera Mortgages, said, “This is great news although I still expect the […]
The answer quite simply is YES you can. Whilst mortgage lenders are still very much open for business their ability to lend is hampered by the current Coronavirus situation and the obstacles to lending this creates, such as: Staff shortages With lockdown & social distancing restrictions in place all lenders are facing the problem of managing applications. Whilst lenders are still actively open for business such restrictions negatively impact a lender’s ability to underwrite and process an application promptly, […]
A survey of more than 4,000 Brits has found that the majority of us (61%) have started a home DIY project during the coronavirus lockdown. We liked this article from The Bolton News which lists 10 ways to improve your home during lockdown. With home improvements in full swing across the country, OnBuy.com asked 4,106 Brits about their DIY activity, including what projects they’re completing. The research found that more than half (55%) are painting walls, a third (32%) are landscaping their garden, […]
Over the last week the mortgage world I once knew has radically changed, coronavirus has had a massive impact on all our day to day lives. I am receiving bucket loads of emails by the minute from lenders updating us on what they are doing in light of coronavirus, just this minute I have received emails from both NatWest & Halifax stating all physical mortgage valuations are now on hold. Therefore any mortgage application submitted that requires a physical valuation […]
We are working FROM HOME! We have now temporarily closed our office and will be continuing to support our customers from our desks at home. This is a very concerning time and we hope you are all safe and well. Should you wish to speak to us please call 01803 500190 or email us here > (Please bear with us as we may not be able to answer immediately.) I want to reassure all our current and future clients we […]
If you’re a first-time buyer wondering what you need to buy a house or flat, you’ve come to the right place. This guide from The Money Advice Service takes you through the process of buying your first home, including saving your deposit and applying for a mortgage. How much deposit do I need to buy a house? Before looking at properties, you need to save for a deposit. Generally, you need to try to save at least 5% to 20% […]
Buying a home is a huge financial commitment and can be daunting – especially if you’re a first-time buyer. This timeline from The Money Advice Service is really helpful. Find out more about the steps to buying a home, including the process, key stages and what fees to expect. Stage 1 – Find a property you can afford Before you start house-hunting, it’s a good idea to work out what you can afford to spend on buying a house or […]
Buying or selling a home can feel like an endless merry-go-round for anyone caught up in a tortuous house move. In one £1.5m property in East Sussex, the fairground nature of many property transactions has been taken literally. The converted Victorian bathhouse is filled with funfair nostalgia. The home, which features a retro bowling alley, a basketball arcade game and a coconut shy above the sink, went on the market in 2019. It is not just the features which were […]
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