Acres Financial Services, Birmingham (2026)

25/07/2025

Another wonderful review for Lisa:-

"We recently arranged a mortgage with Lisa, cannot praise her enough, she was so lovely, friendly, very knowledgeable and professional. The whole process went through so smoothly, without any problems at all. I would definitely recommend her services to anyone. Thank you Lisa"

17/06/2025

Great review received today for Lisa, our in-house financial adviser:-

"Engaging with Lisa has been a delight, as the service has felt like a premium one even though I appreciate I must be one of many. The service has been stream lined thus saving time and bother.
Acres as a whole provides a one stop service where one can attain a mortgage advisor, surveyor and a conveyor thus negating further inconvenience.
When purchasing a property the axiom "buying a house is one of the most stressful things you will ever do" is often expressed. With Lisa and Acres the process has been stress free and actioned expeditiously. On this basis I would recommend Acres."

22/12/2024

'Freshen-upper’ homes most popular
Almost half (49%) of prospective buyers are looking for a ‘freshen-upper’ property, according to research*.

A ‘freshen-upper’ – a home that only requires small scale improvements – was found to be the most desirable property type. Meanwhile, a move-in ready property is popular among 22% of home movers due to its energy efficiency. Only 16% of buyers expressed an interest in ‘fixer uppers’, marking a shift away from major renovation projects. A quarter (27%) of respondents said this is because they don’t have time to make significant improvements to a home, highlighting the impact of busy lifestyles on home preferences.

Whatever type of home you’re buying, professional mortgage advice is essential.

Your home may be repossessed if you do not keep up repayments on your mortgage

*Jackson-Stops, 2024

# propertymarketuk

19/12/2024

Transactions expected to surge in early 2025
Property experts predict a surge in transactions early in 2025 ahead of Stamp Duty changes in April.

In the 2022 mini-budget Stamp Duty thresholds were increased, so in the last two years homebuyers have paid a reduced amount of tax. However, in the Autumn Budget 2024, Chancellor Rachel Reeves confirmed that the thresholds will revert to their previous levels on 1 April 2025.

Increased thresholds
Currently, first-time buyers (FTBs) do not have to pay Stamp Duty on properties costing up to £425,000 but this threshold will return to £300,000 from Q2 2025. For all other homebuyers, the threshold will fall from £250,000 to £125,000.

Market impact
The increased thresholds are likely to cause a surge in purchases in Q1 2025 as buyers rush to complete, followed by a slowdown in transactions in subsequent months. Meanwhile, Nationwide expects that the tax changes will affect one in five FTBs. Robert Gardner, the bank’s Chief Economist, explained that “the impact will vary significantly across the country, largely as a result of the difference in house prices across the UK”.

We can help you understand what the latest tax changes mean for you and your property plans – contact us for advice.

Your home may be repossessed if you do not keep up repayments on your mortgage

17/12/2024

FTBs unaware of available support.

Many first-time buyers (FTBs) are not aware of affordable homeownership schemes that could help them get on the property ladder, research* has found.

A recent survey asked renters in London about their perceived barriers to homeownership. Nearly half (48%) cited affordability as a key obstacle to buying their first home, while a quarter (23%) believed that there is a lack of schemes to support FTBs.

Shared Ownership.
The research highlighted a knowledge gap regarding Shared Ownership, which offers first-time buyers a more affordable route to homeownership. In this scheme, the buyer purchases a share of a property (between 10% and 75%) from an organisation such as a housing association or local council. The purchaser will then pay a mortgage on the proportion that they own and pay rent on the rest. There is the option to buy more shares of the property in future - a process called ‘staircasing’.

Lack of awareness.
According to the research, even though 86% of respondents had heard of Shared Ownership, only half could explain what it is. Also, 37% think the scheme is too complicated which is stopping them from using it. An advantage of Shared Ownership is that the buyer will usually need to pay a lower deposit as they are only buying a proportion of the property. Since affording a deposit is a key challenge faced by FTBs, the research suggests that information about Shared Ownership should be more widely accessible.

Deposit difficulties in the capital.
Affording a deposit is a particular challenge in London, where house prices are notably high. Flats and maisonettes have therefore become popular choices among FTBs in the capital; however, the average price of this property type is still high (£436,902)**. A 10% deposit on the average London flat would therefore cost £44,000 but 81% of those surveyed said they cannot afford to pay more than £40,000. In fact, on average respondents could only afford to pay £22,963 upfront. The research found that women are disproportionally affected by this barrier, as single men have saved £11,500 more than their female counterparts.

Going to great lengths.
Prospective FTBs in London are going the extra mile to achieve their property dreams. Half (48%) of 18 to 24-year-olds surveyed said they plan to work more in order to afford a deposit. Many have resorted to the Bank of Mum and Dad, with a quarter of 35 to 44-year-olds relying on financial support from their parents.

We’re here to help.
Buying your first home can be daunting, but we are here to guide you through it. We can help you understand what you can afford and advise on schemes that could help you get on the property ladder.

Your home may be repossessed if you do not keep up repayments on your mortgage.

* NHG Homes, 2024
** HM Land Registry, 2024

29/08/2024

Will higher mortgage rates be the norm?

Market experts have predicted that mortgage rates of 4.5% will be the ‘new normal’ in the UK.

In August 2023, Bank Rate reached a 16-year high of 5.25%, causing the cost of borrowing to increase. Many hoped this was a one-off spike, but the CEO of Lloyds Banking Group has suggested that this might be an indicator of what’s to come for the UK economy. Charlie Nunn commented, “The expectation that markets have is that interest rates won’t get below 3.5% — and that means that the new normal for mortgages will be in that 3.5% and 4.5% range.”

The current average rate for a five-year fixed rate mortgage is 4.88%1 – significantly higher than pre-pandemic rates of 2.5% in 20192.

Your home may be repossessed if you do not keep up repayments on your mortgage.

1 Rightmove, 2024
2 Mortgageable, 2024

27/08/2024

Young adults need life insurance too.

A recent report has found that most young adults in the UK do not have life insurance*, even though it is one of the most important financial products that you could have.

Cost-of-living crisis.
Over half (51%) of adults aged 18-40 admitted they do not have life cover, with many concerned about affordability due to the higher cost of living. But it is more important than ever to make sure that your loved ones have a financial safety blanket, so they do not have to fend for themselves if you are no longer around.

The cost of losing someone.
It is estimated that the death of a breadwinner costs their surviving family an average of £195,000 over ten years. However, this only covers the cost of essentials – the likelihood is that it will cost the bereaved, surviving partner more.

Even if you are not the main breadwinner, life insurance is still relevant to you – any caring responsibilities you have would fall to someone else, which could then cost them money.

Don’t overlook it.
Over a quarter (28%) of young adults without life cover say they simply hadn’t thought about it. Now is your chance to take control and get a policy which will safeguard the future of your loved ones.

As with all insurance policies, conditions and exclusions will apply.

* Beagle Street, 2024

22/08/2024

Protection – go above and beyond

If you already have adequate cover in place, it can be easy to assume that there is nothing more to be done. However, there are extra steps you can take to make sure that you and your loved ones are fully protected in the event of a claim.

Writing life insurance policies in trust
Having sufficient life insurance is a significant way of safeguarding your loved ones’ financial future. But you can go the extra mile by writing that policy in trust.

Putting your life cover in trust gives your trustees the authority to deal directly with the payout when you die. This means that funds can swiftly be made directly to the beneficiaries, without having to go through probate. Also, it won’t be considered as part of your estate so will not be subject to Inheritance Tax.

There are a few different trusts to choose from:

• Discretionary trusts – the trustees can use your letter of wishes to help decide which beneficiaries should be paid
• Absolute trusts, sometimes known as bare trusts – once you have decided on the beneficiaries, they cannot be changed in future by a trustee
• Flexible trusts – there will be a default beneficiary who will receive full payout, unless the trustees choose to appoint some funds to other discretionary beneficiaries
• Survivor’s discretionary trust – if you have taken out joint life insurance with a partner, they would be entitled to inherit the payout before your beneficiaries.

Putting your policy in trust does not have to be complicated. We can talk you through your options and help you choose the right trust for you and your beneficiaries.

Legal protection for joint homeownership
Marriage rates are declining and cohabitation is on the rise, which means that many couples are buying homes together without sufficient legal protection. In a recent survey, 46% of people who have bought a home with their partner said they did not pay equal amounts of the deposit* and nearly 62% said their partner paid the entire deposit.

Despite this discrepancy in investment within couples, 53% said they have no legal documentation in place to protect themselves if their relationship ended.

Declaration of trust
A declaration of trust is a legal agreement between joint owners of a property. It clarifies each person’s share in the property, ownership rights, and states what would happen if the property was sold.

If you are buying a home with someone else, or a family member is contributing towards the deposit, it is strongly advised that you make a declaration of trust - it could be vital in preventing any future disagreements.

As with all insurance policies, conditions and exclusions will apply
Your home may be repossessed if you do not keep up repayments on your mortgage

* We Buy Any Home, 2024

15/08/2024

Have you ever reviewed your insurance cover? Call Acres Financial Services for expert advice on 0121 387 1616.

01/08/2024

Housing stock improves .

It seems that 2024 is a popular year to sell, as housing supply has reached an eight-year high*.

The average estate agent currently has 31 homes for sale – 20% more than this time last year. Over the last 12 months, the value of homes on the market has also increased by 25% to £230bn. This is thanks to a rise in the number of 3 and 4-bed family homes on sale, the supply of which was limited during the pandemic.

Although this is positive, it is worth nothing that nearly a third (31%) of properties on the market have been up for sale since 2023. Also, the number of sales agreed is only up by 13% year-on-year, highlighting that the number of transactions has not quite matched the growing supply of properties. It therefore seems that supply is currently outweighing demand in the UK.

* Zoopla, 2024

31/07/2024

Preparing your home for viewings.

As confidence grows among sellers, many homeowners are preparing to put their property up for sale. Here’s how you can get your home ready for viewings.

First impressions are vital when viewing a property, so make sure the front of your home is in good condition. This includes your driveway, front garden and the paintwork on the doors and windows.

Your home should be uncluttered, so clear away belongings that might make it difficult for prospective buyers to picture their own life there.

Replace but don’t refurbish; there is no point in renovating your home just before you sell, but everything should be in good, working condition.

Put your pet away for viewings. If the visitor loves animals, it might be a distraction. If they aren’t an animal lover, it could put them off buying.

30/07/2024

UK house prices pick up.

Following a slight dip in April, UK house prices showed modest growth in May.

The average house price rose monthly by 0.4% to £264,249 in May, having fallen by 0.4% the previous month. Promisingly, annual growth was also at 1.3%, up from 0.6% in April.

Expert opinion.
Robert Gardner, Chief Economist at Nationwide, commented, “The market appears to be showing signs of resilience in the face of ongoing affordability pressures following the rise in longer term interest rates in recent months.”

The UK awaits cuts to Bank Rate.
It is uncertain when the cost of borrowing will improve - the earliest that base rate could come down is August, following the Bank of England’s decision to hold it at 5.25% in June. When the first cut does come, it is possible that the UK could see significant house price growth.

Signs of hope.
Despite higher mortgage rates, Gardner commented that “Consumer confidence has improved noticeably over the last few months”, reflecting that this is likely due to “solid wage gains and lower inflation.”

Mortgage advice.
As the UK housing market continues to fluctuate, we can help you understand what it all means for you, your mortgage and home purchase. Get in touch for advice.

Your home may be repossessed if you do not keep up repayments on your mortgage.

*Nationwide

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