BBC reports the biggest house price fall in two years! Media news talks about rising mortgages! Property industry report house market in a state of change!
STOP!
We’ll never do anything if we keep listening to the doom and gloom.
Let’s look at the news on the ground.
- 54% rise in product availability
- 50% increase in self-employed mortgage searches
- October saw the busiest day ever for Green Mortgage searches
- October had the busiest day for ESIS documents produced
Figures in from the Mortgage Advisory Bureau tell a much more positive story about the housing market.
With further rate reductions across the board and 2-5 year fixed rates reducing, this can make a big difference to monthly mortgage payments giving consumers confidence in the market once again.
The introduction of Green mortgages provides another opportunity for buyers to further reduce monthly payments, with some lenders offering slightly better rates to homes within a Band A or B energy efficiency rating.
Green mortgages have continued to rise since December 2021, with specific peaks in August and September this year.
The last quarter’s most popular house price bracket sat between £250,000 to £499,999, with September sales only marginally ahead of October.
Sometimes completion dates for new build homes have to be moved due to various issues such as weather, product delivery, etc., which can be problematic as many lenders only hold the mortgage offer for up to 6 months. However, there is now an opportunity for lenders to provide a mortgage offer that will remain open until your new build home is ready.
Some lenders are offering to secure your mortgage rate, which will protect you if the rate rises but should the rate come down before your new build home is ready, they will lower that rate.
Your EPC rate (energy performance certificate) is relevant to your mortgage, and with all our new homes in the band B bracket, you can be confident in applying for a green mortgage with an Allanwater home.
Our associate Independent Financial Advisors can walk you through the best mortgage solutions and ensure it is all within your budget.
Make an appointment to speak with our development Sales Managers to find out how we can help you move.
As we approach the end of this year, it’s a perfect time to plan your future for 2023 and make that dream house a reality.
It’s time to stop thinking you can’t move and start looking.
