Articles
The state of the housing market at the end Of 2020
We are moving toward the end of a year that most of us will be glad to see the back of for obvious reasons. No doubt we're all looking forward to a better 2021. With the rollout of COVID-19 vaccines, we can, at last, see a glimmer of light at the end of the tunnel. So what does all this mean for the home buyer or seller? What is the current state of the property market in the UK?
A quick guide to inflation
Back in August, the UK's annual inflation rate plummeted to a five-year low of 0.2%, driving down the cost of living. The highly popular Eat Out to Help Out scheme was mostly behind one of the biggest inflation drops in recent years as it pushed down prices in restaurants and cafés. But what exactly is inflation, and what does it mean for your money?
A quick guide to interest rates
According to the Bank of England, the resurgence of coronavirus across Europe and a lack of clarity over the UK's future trade relationship with the EU are likely to slow the UK's economic recovery. Faced with this painful double whammy of factors, the Bank's Monetary Policy Committee recently voted unanimously to keep interest rates at their historic low level of 0.1%. Some financial experts believe this could mean that interest rates will move into negative territory next year.
Your guide to mortgage surveys
One of the most important things you can do when buying a property is to arrange for a home survey. Skipping it could be a considerable risk. You would effectively be buying blind, unaware of your potential new home's actual state or condition.
Your guide to mortgage valuations
Your offer has been accepted, and you're well on the way to getting the keys to your new home. Exciting times ahead! But before you sign on the dotted line, your lender will conduct a mortgage valuation to check what the property is worth and that it provides adequate security for the loan. It is purely for their benefit to assess risk exposure and is not the same as a full house survey.
