Ben Speirs Property Consultant

25/08/2021

Once a week I catch up with our partners at MAB for an update on all things mortgages...

Below is a snapshot on the market this week...

🖥 Platform (part of Co-op Bank) have cut their mortgage interest rates by up to 0.23%. They are a lender who are ONLY available through a broker and not direct or online.

⬇️ Barclays have slashed their rates by up to 0.32% and have also introduced a host of new buy to let deals.

💰 Bluestone, a specialist lender who we often use for the most ‘adverse’ of clients, have reduced their product ranges by up to 1.87%! That is a HUGE discount! ��

⬆️ MAB still have the deal that Halifax have launched - their CHEAPEST EVER 2 year fixed rate deal (For Remortgages)- fixed at just 0.99%! This is incredibly low! Plus it comes with a free solicitor and free survey - if you have a lot of equity (40% minimum) this could be particuarly appealing!��

🏡 MAB also have fixed rates for borrowers with a 10% deposit starting at 2.13% and those with just a 5% deposit starting at just 2.95%

20/08/2021

📈 Property Market Snapshot - House Prices Fall For The First Time This Year…

⬇️ Simon Read, personal finance reporter at the BBC reported today house prices fell for the first time this year at the start of August... but only for the upper quartile.

⬆️ With 2-4 bedroom properties still at record price highs, mortgage interest rates at record lows and demand far outstripping supply the rest of the market is still very much on the up.

🏆 There were over 210,000 transactions in June according to HMRC. That’s the most monthly transactions since October 1988 while Zoopla expects total sale completions this year will be 1.52 million. This would mark 2021 as one of the most active sales markets since the global financial crisis, and as one of the top 10 busiest years since 1959.

📧 To receive a copy of my full market update please feel free to send me a DM and I will send it straight over.

💥 STATS:

🏠 The amount of homes available to buy is 25.4% below normal stock levels due to the surge in buying activity over the past 12 months.

🏠 The demand for property is up +29% year on year. With supply low and demand high this is keeping house prices strong and days on market low.

🏠 Savills amended their annual growth prediction for 2021 to +9% but interestingly they’re only predicting a 3.5% growth in 2022 and +3% in 2023 which makes sense as interest rates will inevitably begin to rise in the near future.

18/08/2021

💰Here's Your Midweek Mortgage Update

Courtesy of our partners at Mortgage Advice Bureau (MAB)...

🖥 On Monday Natwest eased their criteria slightly for self employed applicants. As long as the client hasnt taken the SEISS grant in the last 3 months, they will now be eligible for a mortgage. Great News, as Natwest are one of the lenders with the more generous affordability calculators.

✂️ Coventry Building Society are the latest lender to cut their Higher LTV mortgage rates, by up to 0.5%.

🗓 According to one industry page, Mortgage Solutions, the average 'shelf life' of a mortgage product is now 21 days, the shortest timeframe since 2017, as lenders compete on price. Great news for buyers!

💰 MAB still have remortgage deals starting at 0.99%! If your'e not planning on moving, you could save a fortune by speaking with one our recommended brokers at MAB!

17/08/2021

Completion Day 🎉 🔑

🏡Whether it’s helping someone buy their first home, their forever home or their retirement home the feeling is always the same on Completion Day 😃

👫Working with property is great but it’s the people you get to meet (and hopefully help) along the way that make the job what it is.

🍾 It was an absolute pleasure to work with both buyer and seller throughout this sale and I am delighted the buyers can enjoy a well deserved glass of fizz in their new home tonight… before the hard work (renovation ⚒️) starts all over again tomorrow!

16/08/2021

🚨Down Valuations🚨

🏠What are they, what can you do if you get one and how often do they occur...

24/06/2021

🎉 🍾 💥Completion Day💥 🍾🎉

☀️ The sun came out for yesterday’s completion so the new homeowners could enjoy a well deserved glass of bubbly in their new garden!

😃 There really is no better feeling than seeing the smile on someone’s face when handing over the keys to their new home. It is a privilege to be able to play a part in that journey.

📱 If you’re thinking of selling I would love to help you do the same.

17/06/2021

💥LIVE💥

🚀After launching to the market yesterday this property has proved an instant hit with 14 viewings already booked in starting with tomorrows open house at 09.30am.

👊 Looking forward to meeting everyone in the morning.

🏡Montgomery Drive, Rugby
💰£250,000

This modern home is located in a quiet cul-de-sac and is found in excellent condition throughout. Located within the popular Bilton area of Rugby the property will suit a variety of buyers, providing a perfect family home as well those looking for a low maintenance property to enjoy retirement in.

🔺Detached
🔺3 Bedrooms
🔺Conservatory
🔺Landscaped Garden
🔺1 Owner From New
🔺Private Parking
🔺Quiet cul-de-sac

🎥 3D Tour: https://www.vieweet.com/pano/1QCCYSG3

🖥 Rightmove: https://www.rightmove.co.uk/properties/108919628 #/

📲 For more information call 07771277684.

14/06/2021

Mortgage Mondays 💰

Figures show that house prices have been increasing at their fastest rate for more than a decade with home movers responsible for a record proportion of mortgage borrowing in the first three months of the year 👇

https://www.bbc.co.uk/news/business-57400359?fbclid=IwAR1BwvnnsDZ3ZDPwu8jrA4w3IvjChVqOJhUVHRNv70GVIfDJZnT_Okscj78

A record proportion of mortgage lending was made to home movers during a surge in the UK housing market.

08/06/2021

Why are property prices continuing to increase?

Insightful piece in the Evening Standard detailing how and why the property market has seen a complete turnaround in the past 12 months 👇

Annual average UK house price growth jumped 10.9% last month, marking the highest level in nearly seven years.

07/06/2021

Mortgage Mondays 💰

💥 Today I caught up with our partners at Mortgage Advice Bureau for an update on all the latest movements in the lending market.

✍️ Here were my 5 key takeaways:

1. Level of mortgage products available have now recovered to pre-pandemic levels. Great news for buyers, the more availability of products, the more competitively priced lenders need to be, so this should put downwards pressure on interest rates. Something we are starting to see.

2. Virgin money have reintroduced a 95% ltv shared ownership mortgage. We are seeing more shared ownership properties being built and coming to the second hand market as sellers look to trade up to a bigger home, so this is welcome news. Will really help those on lower incomes or with a limited deposit.

3. The government has launched its First Homes scheme, which will help local first-time buyers onto the property ladder by offering homes at a discount of at least 30% compared to the market price. The first First Homes properties went on the market today as part of the first phase of an early delivery project in the Bolsover district, East Midlands.

4. Smaller building societies have cut rates recently, both Skipton and Coventry have slashed rates by 0.20bps, which would work out to be £30 a month on a £250k home. A significant saving, particularly for a first time buyer!

5. High-street lenders Halifax and Nationwide Building Society, along with local building societies and community lenders, announced that they will be offering high loan-to-value mortgages against First Homes to support the roll-out of the scheme.

28/05/2021

💥🚀 LIVE 🚀💥

🏡Crackthorne Drive, Rugby
💰£135,000

This beautifully presented, first floor, 2 bedroom apartment will suit a variety of buyers including, but not limited to, those looking to get onto the property ladder for the first time and those seeking an investment opportunity.

🔺2 Bedrooms
🔺Shared Bathroom/ En Suite
🔺1st Floor
🔺1 Allocated Parking Space
🔺Fitted Kitchen

🎥 3D Tour: https://www.vieweet.com/pano/ZJRA64Y4

🖥 Rightmove: https://www.rightmove.co.uk/properties/107520950 #/

📲 Viewings starting Saturday 5th June. To book please call 07771277684.

26/05/2021

🎉 🏡🍾 Completion Day 🍾🏡🎉

The next best day after a sale is agreed, is the day it completes!

Building strong, long lasting relationships is an integral part of what I aim to do with every sale.

Everyone has a different reason for buying and selling a property and it’s a privilege to be able to play my part in that process.

It was a pleasure to work with both buyer and seller throughout this sale and I am delighted that they can now enjoy the next step in their property journey.