July 31, 2020

You would have thought that paying £15K over the Home Report value on a £220K property would guarantee success at a closing date? Not in this market! It's utterly bonkers out there at the moment. There is absolutely no sense of impending doom as prices race away. If you don't need to be in the market then I'd stay well clear as you're likely to end up eating your Christmas dinner and think "We paid how much for this place?". F...

July 13, 2020

BREAKING - So Nationwide Building Society are about to break cover next week and launch a 90% deal. The buoyancy of the market has led to this so that NBS can cash in on unprecedented demand in the market stoked by the Stamp Duty cut. If they are about to launch then expect Halifax to be closely following.

July 9, 2020

I do like a bit of "Catchphrase". Mulhern so much better than Roy Walker. Not sure the market really needs this at the moment. No need to stoke what is becoming an overheated market already! Surely better when the clocks go back, furlough is removed, redundancies start and companies start to stuggle?

June 29, 2020

So it is a Manic Monday! Spoken to a couple of estate agents and the phones are going off the hook. One agent told me that they had 21 offers at a closing date and another said that they had a bid £60K in excess of HR. Bonkers! Just watch because no one knows how long "The Bounce" will last. I'd be cautious right now if I was buying........

June 25, 2020

So here is the dilemma. Your kids want to buy a property but they don't have a deposit and you can't help them out. Borrowing has become more difficult since lock down with very little lending at 90% and above so what can they do? Have a think about The First Home Fund where you can secure up to £25K to put towards the deposit. You will still need 5% to put down mind and I'm not sure the FHF will be around forever given where...

June 24, 2020

Those of us in the property space are counting down the days until the 29th of June which is the date when we enter the next phase of Lockdown Exit. You will be able to go and view properties for renting or buying, valuations will be allowed and you can pop into your estate agent to chat over things. It's been a long road but even this week I am seeing alot more enquiries. I think we will have a bounce. The question is how lon...

June 17, 2020

This is getting ridiculous. Coventry Building Society have a 90% deal on for a week, Accord release a 90% deal then withdraw it after a couple of days then today release it again and to cap to all HSBC are only releasing a certain amount of money at 90% and if you're not there at 8.15am, the money runs out and you have to go cap in hand the next day. The big boys have to show up here. I think that if Halifax go for a 90% then...

June 10, 2020

Looks like the mortgage market is in a bit of a melt down at the moment. As we move towards 18th June and the talk being that estate agent will be back open, the pent up demand is leading to problems. There simply are not enough lenders lending at the higher rates of LTV which means that the ones that are lending at 90% are being swamped. Hearing stories from Accord Mortgages that they have pulled their 90% deals because they...

June 2, 2020

As everyone is gearing up to a return to some housing activity and the "Bounce Back" on 18th June, a shadow has been cast by the CEO of Nationwide Building Society who suggested last week that those who were going to take an extended mortgage holiday should have this reflected in their credit report. This is indeed worrying news for those who may have no option. But if you do, then think long and hard about extending as there...

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