“Life is like riding a bicycle. To keep your balance, you must keep moving.”
Albert Einstein
I don’t know about you, but I’m pretty fed up with all of the scaremongering in the media when it comes to the financial and property market.
As a property expert, connected with and working closely with other industry experts, I’d like to dispel all of this fear.
Is the market grinding to a halt? No!
Firstly, we are busier than ever; people are still buying – because they WANT to. We are working closely with a couple who have decided to up-size as they are now working from home more. This isn’t a rare instance. In fact, Michael and I are doing the same!
Up-size, downsize, relocation or just because one fancies a change. People are still buying and selling.
How are the current financial conditions affecting the market?
The truth is, it’s actually a positive reaction.
This isn’t just our opinion and experience; data from Rightmove has revealed that in a national poll of active home movers across the UK, the Bank of England’s decision to raise interest rates to 2.25% last week has encouraged more homeowners to put their home on the market for sale.
The analysis found that 61% of current UK sellers have cited rising interest rates as a top motivator for deciding to put their home on the market, believing that it will achieve the best price right now.
It actually feels like a more manageable market to buy and sell within, unlike the crazy covid times, where houses sold so quickly that vendors hadn’t even secured their onward purchase and this repeated story (also elaborated in the press for scaremongering purposes) led rapidly to a lack of stock and delayed processes.
The Best Advice
Don’t let fear paralyse you – speak to a professional as soon as possible if you are thinking of moving – we can advise on the best mortgage brokers and solicitors. And of course, talk to us about the market.
Keep in mind that average mortgage rates are only a benchmark. Borrowers with good credit and strong finances often get mortgage rates well below the industry average. So rather than looking only at average rates, it’s worth taking the time to get a personalised estimate and see what you qualify for.
We have lots of new properties coming to market – please follow us on Facebook and LinkedIn to see them before we list them on Rightmove.
And, our big, exciting news… We have now launched our brand new website, and we’re so happy with it.
