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With the arrival of sub 4% mortgage deals, banks are attempting to outdo each other by setting headline-grabbing rates. And with better deals on the horizon, with lower rates for those with smaller deposits, homemovers are starting to make a move.

Your property’s value will increase
As interest rates lower, demand for your home increases. Your home has become more affordable to buyers who need a mortgage to purchase it. A rejuvenated property market, which is enduring a shortage of homes, means your property's value increases. But as prices rise, you may have to borrow more, so it could be worth making an early move to get ahead of buyers returning to the market.

A quicker sale
With more buyers returning to the market, you are more likely to achieve a quicker sale. Let’s be honest: once you have decided to move and have found the right home, you want the entire process over and done quickly. Better mortgage deals mean more buyers are in a position to move. This also applies down the chain, meaning you are less likely to encounter delays.

An increase in certainty
The UK property market performed far better than many expected in 2023. In the aftermath of so many interest rate increases, the steadying of the base rate towards the end of last year came as a big relief to many homeowners and homemovers. Lowering interest rates and a positive outlook for the year ahead mean you can feel more confident as confidence in the market increases.

Lower mortgage payments and faster equity growth
Lower rates mean lower mortgage payments, with more of your payment contributing to the outstanding balance of your mortgage. This means you can build up equity far quicker. If you are planning on moving to your forever home in a few years, lower rates mean that you can move up the ladder more quickly. Financing home improvements also becomes more affordable.

There are other ways to save
Moving to a better home and making good investments has a hugely positive impact on your life. There are plenty of ways to make moving a viable financial option to counter slightly higher interest rates. If you can save on your commute, enjoy greater energy efficiency, have a better work-from-home space, and make your family happier, you will save money.

Your property story can begin
Are you a first-time buyer, downsizing, planning on retiring to a holiday home, or want to boost your pension while living in a more compact, energy-efficient property? Perhaps you love restoring and improving properties, like living in them for a few years, then moving on to the next project. Maybe you could be a fully-fledged buy-to-let investor?

 

Become the author of your moving success story by contacting us

 

With a greater sense of optimism in the air, lowering mortgage rates, and a compelling choice of properties to entice you, the UK property market is feeling good. A new year always brings new trends, fresh ways of buying, interesting properties, and a fresh influx of homemovers. Now is a good time to open your mind to the endless possibilities.

Mortgage rates are falling below 4%
With sub 4% mortgage rates making a welcome appearance on the mortgage market, homemovers are excited and relieved. For many years, mortgage rates were unrealistically low, and this has created the perception that today’s rates are higher than they actually are. Mortgage rates will not in the foreseeable future return to super-low levels, and those who know this are making their moves and getting increasingly better deals. After all, you can always change your mortgage deal in a couple of years.

Homes finding new owners
More buyers means more sellers, and all bring their properties to the market at some point, for you to buy, or for them to buy yours. This hive of activity keeps the market buoyant at this time of year. Spring is just around the corner, and this is often one of the best times of the year to move thanks to longer days, and warming weather to enjoy viewings. If you decide to join the party, your agent’s database will be teeming with homemovers and may already contain the right buyer for your home.

New trends
Create your perfect work-from-home space by selling up and moving to your dream location. Making the most of your home’s equity by purchasing a buy-to-let investment or holiday let is still a very appealing option. First-time buyers can spend up to £600,000 with a 5% deposit thanks to the Mortgage Guarantee Scheme, which has been extended until June 2025. Sustainability, energy efficiency, compact living, and smart technology are also growing in popularity.

A settling market
If you are a buyer, better mortgage deals and solid pricing that represent good value put you in a good position to move, thanks to a slowdown in house price inflation in 2023. You will get a good price for your home if you are selling, and you will enjoy good value if you are buying. These are ideal conditions for finding a great property and settling down. When the property market feels calm, it makes for a more pleasant moving experience. With good guidance from an experienced agent, moving home does not have to be a stressful experience.

Inspirational properties
Sustainability and energy efficiency are blended with fun and functionality, defining your spaces but allowing them to feel connected. The growth of smart homes and smart energy, fitted with smart appliances, promises to make your life easier. Features such as glass roofs and glass-door walls, with modern, clean designs leading to homely outdoor garden spaces, even in compact homes, make for inspirational viewings. Architectural styles from every era offer space with style and a sense of timelessness with modernity in magical settings.

 

Get in touch to take a fresh approach to your new home search this February

 

Buying your first home can be a daunting task, and it can be very difficult to raise enough funds without financial assistance. Thankfully, the Scottish government contributes to a percentage of the cost through the Low-cost Initiative for First-Time Buyers (LIFT) scheme.

Let’s take a closer look at what the LIFT scheme is, who is eligible, and how you can apply to become a part of the scheme.

What is the LIFT scheme?
The LIFT scheme, which replaced the Help to Buy scheme in 2023, is a shared-equity programme aimed at helping people purchase their first home in Scotland. Although the LIFT scheme is split into two very similar sub-schemes, the New Supply Shared Equity (NSSE) scheme is the only one that is currently open for new applications, as the Open Market Shared Equity (OMSE) scheme is not taking any new applications until next year’s budgets have been decided.

The NSSE scheme allows first-time buyers to purchase a new-build property from a council or housing association. This scheme requires buyers to cover just 60 to 80% of the property’s cost, while the Scottish government holds the remaining share. The buyer owns the home outright and has their name on the title deeds, but to ensure the Scottish Government's share is safeguarded, there will be a mortgage (also known as ‘standard security’) on the property.

Who is eligible?
The NSSE scheme is open to all first-time buyers in Scotland, as well as:

• Disabled people
• Members of the armed forces
• People aged 60 or over
• Veterans who have left the armed forces in the past 24 months
• Those who have previously owned a home and have had a major change in circumstances

How to apply
To apply for the NSSE scheme, you need to get in touch with your local council or the appropriate registered social landlord directly to receive more details about the scheme and instructions on how to submit an application. The social landlord will require information about your current income, the size of mortgage you can afford, the amount of personal contribution you can make to the costs, details about your household, and your current place of residence as part of your application.

Increasing your share
After purchasing a home through the LIFT scheme, you will have the option to buy a larger share of your home further down the line. If you wish to do this, you must increase it by 5% per year. You can normally increase the share all the way to 100%, but in some cases, the government may retain up to 20%. This is known as the 'golden share', and it primarily occurs when you live in an area with less affordable housing. Your local estate agent will be able to determine whether your shared equity arrangement includes a 'golden share'.

Selling your home
You are free to sell your home at any time, no matter what share percentage you have in the property, as long as you obtain a home report and get in touch with the administering agent for your region of Scotland before listing it for sale. Your equity ownership in the property will determine what proportion of the sale price you receive. For example, if you had a 90% stake in your home, you would receive 90% of the sale price, with the remaining 10% going to the Scottish government.

How your agent can help
A trusted estate agent will help you with all aspects of your LIFT scheme application. They will assist you in determining how much of a share you can afford to buy and locating a property that can be purchased from a council or a housing association. They will help you get in touch with the council so that you can give them your details and complete the application. Additionally, they will help you calculate whether or not you can afford to increase your share and help you sell the property for a good price if you decide to do so in the future. When the OSME scheme reopens for applications later this year, your estate agent will let you know what opportunities arise as a result.

 

Looking to buy your first home? Contact us today

 

 

House sharing is a good solution to finding your independence at more affordable levels. But if the idea conjures up memories of your student days when the sink was always full or you couldn’t sleep because of a house party, then think again. Things have moved on.

Have a cleaning strategy
There are some awesome properties available to rent and to make the most of them, it’s best to keep them clean. Whether you live with family or your partner, you will need to clean, even if you use a professional cleaning company or hire a cleaner. Taking turns or using a roster will help everything fall into place if some housemates are not proactive.

Remember your headphones
Parties or other social events should be discussed; the chances are you will be joining the celebrations. But for those times when you need to blast out some tunes, maybe late at night after a hard day's work, your headphones will help keep the peace. When planning forthcoming social events or times when you may be planning a special meal or gathering, it’s always best to give plenty of notice.

Talk about finances
It’s always best to split bills evenly. By agreeing to this in advance, you reduce the potential for any arguments. If you are saving to rent or buy your own place or are planning on moving in with your partner, this will help you save more quickly. Communication is the key to being a good housemate. If you know where the boundaries are, then it’s easier to live within them.

Be nice
If you find yourself living with a good bunch of people, a few kind gestures, go a long way. It is all about keeping everyone happy, and living with people who are upset or who become moody due to tensions in the home is not healthy and will increase your stress levels. Respecting each other's space, knocking before you enter, and generally being courteous will encourage the household to feel happier, which should result in more fun.

Remember the little things
From setting the thermostat, and taking out the bins, to using the washing machine, a flexible approach is the right way to go. Compromise is also key to preventing any fallout or tension. And with all the little things taken care of, you will find that they should not become bigger problems. The same goes for the maintenance of the property. If you use a letting agent, maintenance issues can be taken care of for you.

Get your own place
House sharing is a cost-effective solution to enjoying a great place to live. You can benefit from companionship, fun, and the safety that comes in numbers if the alternative is living alone. However, if house sharing is not for you, a fully managed property will mean you will have a dedicated maintenance team, which promises to improve your renting experience. From finding great homes to obtaining references and protecting your deposit, the entire process can be fast and straightforward with the right letting agent.

Nestled in the heart of SouthWest London, Clapham stands as a beacon of educational excellence. This affluent neighbourhood, known for its strong community vibes and lush greenery, is also home to some of the best primary schools.