News & Updates | Page 13 of 43

Renting with a Residential Mortgage In the Rugeley area we have a busy rental property market, 'Consent to Let' is a crucial concept for homeowners considering renting out their property. This short guide demystifies the process for homeowners and underscores its importance.

In the ever-changing landscape of the Rugeley property market, predicting future house price trends can be akin to navigating a labyrinth. The past two years have witnessed unprecedented upheaval, primarily due to fluctuating interest rates that significantly impacted household finances, reminiscent of the challenges not faced since 2008. The average rates for fixed-rate mortgages have dramatically risen, notably from late 2021. This hike in the Bank of England base rates has led to a substantial increase in monthly mortgage payments, consequently affecting people's ability to purchase new homes.  

Understanding House Surveys in the UK:  Responsibilities, Types, and Differences When embarking on the substantial investment of buying a home, it's crucial to ensure that your purchase is sound and worthwhile. This is where house surveys come into play, offering a detailed inspection of the property's condition before you commit to the purchase. In the UK, the dynamics of who organises and pays for these surveys vary depending on location.

First time buyer support extended in Autumn Budget Further details have emerged from the fine print of the Autumn Budget Statement, which Chancellor Jeremy Hunt, MP, announced on 22 November 2023, with positive news for the mortgage guarantee scheme, proptech and new housing developments. The headlines from the Autumn Statement included a  long-overdue uplift in Local Housing Allowance and minimum wage rises . The Chancellor also stated that households close to new electricity infrastructure (pylons and sub-stations) will receive up to £1,000 per year off energy bills.

Inflation, interest rates, house prices down, house prices up ... the newspapers are full of column inches on Brit’s second favourite topic - the property market (the first being the weather obviously!). Those of you that read my articles on the Rugeley property market know I like to look further afield to compare the Rugeley market with the regional and national markets. The one thing that is immediately apparent is that the UK does not have one property market. House prices are up in one region of the UK, yet down in another. It is a hotchpotch patchwork (almost like a fly’s eye) of lots of small property markets all performing in different ways.   … and that made me think …

Navigating the 6 ways Parents can support their family to buy a home. Embarking on the journey of homeownership is often seen as a rite of passage, but in Rugeley, like many other places, young buyers may find it challenging without some assistance. Enter the Bank of Mum & Dad, a pivotal driver in today’s property market. The term 'Bank of Mum and Dad' encapsulates the essence of parents contributing financially to their offspring's pursuit of property ownership. This concept has seen a surge in the "Bank of Mum and Dad" (BoMaD) as they continue to play a significant role in assisting younger (and sometimes middle aged) individuals, particularly in the property market.