Christine Cowley Financial Advisor

07/10/2024

For Financial Advice with a personal touch please drop me a message or call 01642 711111 for an appointment.

01/03/2023

Competition between lenders in the mortgage market is good news for prospective buyers and home movers. The average interest rate charged on both two-year (5.44%) and five-year deals (5.2%) fell in February for the third month in succession.

For financial advice please get in touch via email or message.

[email protected]

Across the mortgage market product choice is increasing. According to Moneyfacts there are more than 4,300 different deals available. This is the first time since August 2022 that product choice has risen above 4,000.

15/02/2023

Seven. Considered by many a lucky number, and as a homeowner if you stay in a property for 7 years it is likely to have risen in value.

13/02/2023

Mortgage rates have hit the headlines for the last 5 months but rates of arrears remain low by long-term standards. Just 0.88% of all mortgages are in arrears of 1.5% or more, according to the latest data from the Financial Conduct Authority (FCA).

10/02/2023

No wonder there is a shortage of stock - we are all staying in love with our homes for longer.

Buying a home is like falling in love. You can expect to go through the same ups and downs, emotional tugs and pulls, and even similar stages.

Broken heart? Don’t worry, it’s not just you! It is estimated in the region of 1 in 3 property sales fall through before completion. Buyers having a change of heart is the biggest cause.

Buying a home is like falling in love. You can expect to go through the same ups and downs, emotional tugs and pulls, and even similar stages.

31/01/2023

There are reasons to be positive about the housing market and the outlook has improved since Liz Truss stepped down. The interest rate market is calmer, employment remains strong and Government policy favours home ownership.

Dataloft's central (main case) outlook scenario for house prices is of a market slowdown and mild price falls. Lower transaction volumes but better than suggested by recent low mortgage approvals data.

26/01/2023

With a continued lack of new stock the market has had a busy start to 2023.

Notably, buyer demand is up by 4% compared to the same period in 2019 and 55% compared to the two weeks before Christmas. This is the biggest new year bounce since 2016.

Mortgage rates also continue to fall as interest rates soften, with some deals for first-time buyers now below 5%. It is a trend which is expected to continue and should encourage this segment of the market to become more active.Source: Dataloft, Rightmove, MoneySuperMarket

Get in touch for advice on mortgages.

#2023

Following two months of falls, average new seller asking prices rose by 0.9% in January 2023. This is the largest rise in prices at this time of year since 2020 and is indicative of sellers testing the market.

11/01/2023

Housing Market News

In the 10 years since 2011, the % of households who have become mortgage free across England and Wales has risen from 31% to 33%. Households with a mortgage have dropped from 33% to 29%.

The census began recording mortgage status in 1991. The 2021 census marks the first time the data has shown that amongst homeowners, those that are mortgage free are now in the majority.

10/01/2023

An average of economists and housing market commentator forecasts over the next 5 years expect the rental market out perform the sales market, at 3.3% compared to 0.9% per year.

The sales market could see falls in average prices of homes by -7% by the end of 2024 but growth is then expected to return and average 3.8% per year between 2025 and 2027.

In contrast, the rental market is anticipated to see its strongest rates of growth in 2023 and 2024 (4.4%) before stablising at 2.5% per year for the three year period 2025 to 2027.

Housing markets that are less reliant on mortgage finance could record higher than average levels of growth. Improvements to the cost of borrowing may also result in a boost in demand in the sales market.Source: Dataloft, OBR, HM Treasury (Independent average), JLL, Savills, Knight Frank, CBRE, Rightmove, Zoopla

An average of economists and housing market commentator forecasts over the next 5 years expect the rental market out perform the sales market, at 3.3% compared to 0.9% per year.

10/01/2023

Those with significant housing equity are often able to downsize to a property with less maintenance and enjoy a better lifestyle.
Cash released may be used to help children and grandchildren onto the property ladder.

Source: Dataloft, Land Registry (12 months to end of December)

Downsizing to a smaller home can be an opportunity for those looking to save money, and enjoy the equity freed from their home sale. The average price difference between a 3+ bed house and a 2-bed flat in the UK is £161,728.

03/01/2023

Rental price growth is set to outpace sales price growth over the next two years. Driven by a shortage of stock and increased demand, rental growth averaging 3% per year is anticipated for the next 5 years.

14/12/2022

Prime markets have, on average, increased 2.7% more than the market as a whole.