Mortgage Broker Manchester

We’re still early in the New Year, and 2015 is young, and that means another year of property fluctuations is in the pipeline. 2014 certainly had its fair share of talking points with regards to property, and it’s fair to say that an awful lot of them revolved around the ongoing drama of property prices in London. However, our very own city of Leeds also made numerous appearances, particularly due to its status as one of the most affordable UK cities to rent a property in. So, what can we expect from the next 11-and-a-bit months? Here are a few predictions from various analysts:
Growth in Property Prices
Over the course of 2015, house prices are expected to grow, although, as we mentioned in a previous blog, these rises are anticipated to be far slower than most of the recent trends have been. A general consensus among property gurus seems to be that a 4% rate of growth is a realistic expectation, but the reasons behind this figure are varied. It could happen as a result of…

• Nervousness in London. There’s a theory that London house prices will remain largely unchanged for the next 12 months, and that should restrict rising property prices as a whole.
• Election uncertainty. Until the result of the May election, housing market activity should be lower. However, the ongoing stamp duty changes are likely to have little or no effect.
• Low Bank rates. Some have suggested that interest rates could sink to record lows this year, and this development will undoubtedly have a knock-on effect on the property industry.

Added Demand for Homes
Demand for homes is not set to go up across the board. There’s a growing attitude in London that the breaking point has been reached with regards to prices, and so people are choosing to move out of the capital. However, other factors like above-average wage increases are expected to raise the demand in other areas, and thus prices are expected to pick up across the country as a whole.
Obviously there are many potential changes on the horizon with regards to UK property, and lots of uncertainty too, but remember that the Search Mortgage Solutions team remain on hand to guide you to the best mortgage deals, no matter what the climate might be. To get in touch with the best mortgage broker in Leeds, call 0113 367 2899 or email enquiry@searchmortgagesolutions.co.uk today.

Last time, we brought you the story that house prices in London are finally looking set to fall, and such a development would be welcome news for a city that has endured a bit of a rollercoaster over the last 12 months. 2014 saw Londoners looking to relocate en-masse, purely because prices had risen to such unprecedented levels that living in the capital was no longer practical. Some of the stories that arose from 2014 were genuinely absurd though, so here are a few notable examples…
Illegal Conversions
There were plenty of stories about incredibly ‘modest’ premises commanding utterly extortionate rents last year, but some of these tales brought into light just how out of hand the situation really was. One house in Clapham was probably earning its landlord around £40,000 a year…despite the fact that it had a tree growing through the wall. An actual tree. Described by an electrician as ‘the most dangerous site he had seen in 35 years’, the property has now been taken off the market.
Unique = Miniscule
Many miniscule premises were rented in London during 2014, but landlords tried every trick in the book to obscure that fact. A home with a bedroom suspended over the kitchen work surface was described as ‘creative’, ‘unique’ and ‘the smallest house in the world’. Other homes had rooms which could only be entered on your hands and knees. In lots of situations, small may not be a bad thing. Here though, there’s only so much that you can do to get away from the fact that tiny homes really are just that; tiny homes.
‘Investments’
We’ve all heard about buying property that has long-term potential, and many of us enjoy watching home renovation programs that show how a barren shell of a home can eventually be turned into something spectacular.  However, the last 12 months saw people buying what was essentially a passage between two shops, and purchasing 6 simple garages for £700,000. This latter was deemed an attractive prospect because of the lack of planning permission, but a garage is still a garage.
If you’re still curious about London property oddities in 2014, be sure to have a dig around online, as rest assured we’ve only given you a few of the standout stories from last year! This year though, it’s hoped that such tales will become far less commonplace. Don’t make the mistake of thinking that you’ll be forced into housing a tree in your dining room just to afford a London property either, as there are plenty of great mortgage options out there. At Search Mortgage Solutions, we specialise in locating such opportunities, so contact the premier mortgage broker in London today by calling 0207 554 5685 or send us an email at enquiry@searchmortgagesolutions.co.uk.

The correct way to view a property isn’t taught in schools and isn’t really common knowledge so it is easy to view a property in the wrong way. This could mean that you end up in a house that has numerous problems that need fixed that you paid thousands too much for. To make sure that you are more informed when you view a property, we’ve put a few tips in this blog post for you.
Ask The Right Questions
The agent will probably have a whole wealth of knowledge about the property you are viewing, so if you know the right things to ask you could learn more about the property than other viewers and maybe even save yourself some money. One thing that you should ask is why the owner is selling the property. The agent doesn’t have to answer this but they might hint at the circumstances and you might learn something that will help you haggle for a lower price.
You should also ask exactly what is included in the sale of the property. Where do the boundaries of the property lie? Are any of the contents included in the sale? This kind of information is vital in determining the value of your house and asking these questions are a quick way to find out if you’re on to a bargain or are being overcharged.
Other questions that you should ask is the length that the property has been on the market, the length of time that the owners have lived at the property, whether the price could be negotiated, and how many offers have been received so far.
View It Correctly
When you are viewing the house for the first time, you are often seeing how you would feel living at the house. This is an important thing to do as you should choose a house that you would be happy living in, however when viewing the house like this you might miss a few things.
Alongside judging whether you would be happy in a house, you should also look at the house as a building that needs inspected. Look out for any problems that would need repaired, as these would have a large impact on the value of your price. If you do spot a problem then don’t necessarily let it put you off the property, but you may be able to negotiate a lower price instead.
Make sure that the house has had a house survey done. This is different from the mortgage valuation and will tell you about any problems that the property has.
Here at Search Mortgage Solutions, our friendly team have become experts in the field of mortgage advice and services. If you need any help in the area of mortgages, or are looking for a mortgage broker in Birmingham then look no further than us! Feel free to contact us any time and a member of our team will be happy to help.

If there’s one pattern from 2014’s property trends that really stands out, it must surely be the focus upon property prices in the capital. 2014 saw London property values soar to truly astonishing levels, and numerous records were broken. With London ranked as the most expensive city to live in, bar no other in the world, many people elected to begin moving away from the capital, and this in turn opened up opportunities for other cities to excel, and Birmingham has been one such place.
Birmingham Leads the Way
When it comes to property investment, London has been king of the hill for quite a long time, but according to The Telegraph, our very own city of Birmingham is now set to overtake the capital as the ‘UK’s most attractive city for property investment’. Britain’s second-largest city has had a storied past, but these days Birmingham is leading the way not only in this respect, but also as the ‘business start-up’ capital of the UK. As a result of such developments – as well as the ongoing renovation to the city centre – Birmingham leapt up the list of property investment hotspots by a full 14 places.
Ex-Londoners in Birmingham
What’s more, the aforementioned people who are leaving London need somewhere to go, and youngsters in particular have found Birmingham to be the ideal place to frequent. In 2013, Birmingham was the place of refuge for nearly five-and-half-thousand ex-Londoners, and that’s a pattern that is set to continue. It’s not that London has lost any of its characteristic charm, because it hasn’t, it’s just that people can literally no longer afford to be based in the capital. In Birmingham, budding entrepreneurs or investors can spend the same sort of money for much greater gain, and when you get down to it, that’s always going to be an attractive prospect that takes some beating.
Mortgages in Birmingham
By all accounts, then, Birmingham is not only a great place to be in 2015, but it’s also an affordable place too, and that’s doubly true if you can find yourself the right mortgage broker in Birmingham. At Search Mortgage Solutions, we’re proud to be just such an efficient service provider, and we have a proven track record when it comes to finding the best mortgages in the UK’s second largest city. If you’d like to find out more, please contact us today by calling 0121 231 3115 or sending an email to enquiry@searchmortgagesolutions.co.uk. We’ll be happy to assist you.

Experts are predicting a 2-5 percent drop in London house prices, with low numbers of new properties being put on the market being named as the key factor. Demand is also falling, and in December 45 percent more RICS members reported a decline in buyer interest than had the previous month – this was the sixth consecutive month in which demand dropped.
As with any general election, the uncertainty about what the government will look like come May has led to more caution at the top end of the market. Simultaneously, sellers who are reluctant to take low offers are holding off on taking their properties to market.
Elsewhere in the country figures tell a very different story, and in Northern England, the South West and parts of Scotland buyer interest looks to be on the rise – reflecting increased confidence in the economy on the part of many consumers. Changes in stamp duty regulations have also given many people cause for optimism; In December’s Autumn Statement George Osborne announced stamp duty reforms that will take a large burden off many buyers. He has achieved this by introducing a graduated system for calculating prices.
RICS’s chief economist, Simon Rubinsohn, has said that:  “The changes to stamp duty are expected to provide a timely boost to activity in the housing market across most of the country, but there remain significant challenges, particularly for first-time buyers seeking to take an initial step on to the property ladder.”
Despite the positive outlook in some parts of the country, many RICS members still believe that there will be a 5 to 10 percent drop in sales throughout 2014.
Only time will tell whether these predictions come to pass, but whatever happens we at Search Mortgage Solutions will remain committed to finding the best mortgage for all of our clients. We are dedicated to helping you navigate the ups and downs of the turbulent London housing market, and finding a mortgage which suits your needs. If you’re in need of a mortgage broker in London, please feel free to contact us: a friendly member of our team will be happy to assist with any enquiries that you may have.

For every up there is a down – and for every start there is a stall, especially where property is concerned. It’s been revealed that the house price growth has lost so much pace that it’s stalled almost entirely. It now stands at its lowest level for 19 months.
Industry experts who have studied the property data have noted that there have been huge fluctuations across the UK as a whole. So while there’s been strong growth in locations such as Scotland, Northern Ireland and the North-West of England, London has actually been experiencing a fall in prices.
 
Just last week some in the industry were speculating that the capital’s house prices will fall by around 3.3%. Prices elsewhere in the country, according to the Centre for Economics and Business Research, will dip by 0.6%.
 
The capital had previously seen a sharp rise in prices, but as of December those prices started tailing off, leading to the fall we’re seeing now. Part of the issue has been the latest stamp duty rules. Treasury officials say that anyone purchasing a home that costs below £937,000 will pay the same or lower than before the changes come in, which is grand for around 98% of new homeowners. But because property values are far higher in London, that also means that buyers will also end up paying more in stamp duty there than elsewhere in the country.
 
And this, property professionals suspect, may be proving off-putting to new buyers in London. Despite this, many believe that those reforms to stamp duty will, in fact, eventually deliver a boost to both house sales and prices, as both buyers and sellers look to capitalise on the lower costs for stamp duty.
 
The property market can often seem like a minefield, particularly with such reforms taking place. That’s why Search Mortgage Solutions is here to help. If you’re in need of a mortgage broker in Manchester and beyond, we’ve got you covered. Please don’t hesitate to contact us on 0800 756 7794 or email enquiry@searchmortgagesolutions.co.uk  and our team of experts will be delighted to assist with your enquiries.

According to a number of reports this week, there is evidence to suggest that house price rises here in the UK may be tailing off. According to The Guardian, house price growth has now fallen to its lowest level in 19 months, based on the latest figures produced by the Royal Institution of Chartered Surveyors (RICS).
In their latest survey, the RICS reported that only 11 percent more surveyors had observed an increase in house prices than had seen a decrease, over the last three months of the year; down from the figures recorded back in November, and well below the peak observed in March’s survey.
There were also huge variations reported across the country, with areas such as the North West of England seeing the strongest growth. Rather surprisingly, the drop in growth in property values was most pronounced in London, and this was the only region where more surveyors reported prices falling than rising.
As outlined by the BBC, the survey also found that the number of new properties being listed on the market has fallen for 10 out of the previous 12 months, and the number of properties for sale is approaching historic lows.
The recent Stamp Duty reforms announced back in December were predicted by many to have the potential to bolster the ailing property market. However as argued by the Financial Times, these new survey results suggest that the changes have yet to be felt in the UK housing market.
There is still plenty of general optimism to be found and a number of property experts still believe that the reforms will have an effect in the medium term. According to chief economist at the RICS, Simon Runinsohn, given the permanent nature of these reforms there was no urgency for people to take immediate advantage, which could potentially explain their lack of impact thus far. The RICS has also said its members believe that the stamp duty reforms will support demand at the lower end of the market and boost both house sales and prices.
Reports such as these highlight the often unpredictable nature of the property market and it remain to be seen what changes, if any, will occur in the months ahead. If you’re looking to get on the property market, then here at Search Mortgage Solutions we can help. Our expert mortgage advisors can assist you in finding the right mortgage to meet your individual needs and requirements. So if you’re looking for a mortgage broker in Liverpool, please do not hesitate to contact us today, to speak to a member of our expert team.

6 January 2015 | By Devraj Ray
More borrowers purchased their first home last year than in any year since 2007, according to Halifax.
Some 326,500 first-time buyers purchased a home last year, up 22 per cent from 268,500 in 2013, says the bank.
First-time buyers accounted for 46 per cent of all mortgaged house purchases in 2014, up from 44 per cent in 2013.
Mortgage affordability has improved in the past seven years, with an average of 32 per cent of a first-time buyer’s income going towards mortgage repayments in 2014, down from a peak of 50 per cent in 2007.
The lender says the greater availability of high-LTV loans has helped bring the average first-time deposit down 7 per cent from £31,852 in 2013 to £29,218 last year.  This still sits some 67 per cent higher than the 2007 average deposit of £17,499.
Halifax director of mortgages Craig McKinlay says: “First-time buyers are vital for a properly functioning housing market. Improving economic conditions and rising employment levels have boosted confidence among those thinking about getting on to the housing ladder for the first time, contributing to the significant increase in first-time buyers in the past two years.
“Record low mortgage rates and Government schemes such as Help to Buy have improved affordability, enabling more first-time buyers to purchase their own property.”

The New Year has brought with it a number of fresh reports with regards to the mortgage market here in the UK. In particular, there are a number of emerging reports pointing towards a slowing down of the property market towards the end of 2014.
According to a recent article from The Guardian, the number of mortgage loans to home buyers fell by 12.4% in November 2014. This new data has come from the Council of Mortgage lenders (CML) who revealed its members had advanced only 55,600 house purchase loans, worth a total of £9.2 billion, in November. This figure is 6.65% lower than data recorded for November 2013.
As reported by the BBC, the number of home loans advanced to first time buyers was also down by 11.35% in October of last year.
Surprisingly, there was one sector of the market that bucked this trend. Indeed there was in fact a 9% increase in buy-to-let lending compared to November 2013, and demand for buy-to-let mortgages has gone from strength to strength in recent months.
These new figures point to a continued slowing of the property market here in the UK. Despite this, the CML were quick to reassure that this easing of activity in the mortgage market was not entirely unexpected, and the winter months typically witness a seasonal dip in lending .
There was also some good news to be had with the CML predicting that there will be a steady acceleration in the housing market in 2015. The article quotes the director general of the CML, Paul Smee, as stating that “Our forecasts are for gross lending to continue to grow over the next two years, and this reflects our belief that there are more stable conditions in the market than a year ago,”
December 2014, also saw a number of key mortgage rates end the year at their lowest level in 20 years. Furthermore, recent weeks have also seen the mortgage price war intensify, with factors such as low inflation and an expectation that interest rates will not rise, having triggered an escalation of the price war between lenders.
Whatever direction the mortgage market may take in the coming months, here at Search Mortgage Solutions, our experienced mortgage brokers can help you to find the right mortgage for you. So if you’re looking for a mortgage broker in London please do not hesitate to contact us today by giving us a call on, 0207 554 5685, to speak to a member of our expert team.

2014 has been a pretty eventful year for the housing market, and there has been no shortage of news regarding the property market here in the UK. Indeed from stricter mortgage rules to record breaking house prices and stamp duty reforms, the property market was seemingly never out of the headlines. Interestingly, this trend may also be set to continue too, and with Christmas nearly upon us and the new year just around the corner, here we take a quick look at what 2015 may have in store.
According to a recent report from The Telegraph, 2015 may prove just as interesting with regards to the mortgage market here in the UK, and is likely to present a new set of challenges. Indeed the article points to a number of reasons why mortgage rates may be set to rise in the coming year. For example, one factor that could trigger a rise in mortgage rates is a change to the bank rate. Whilst according to some forecasts it is likely to be some time before the Bank of England pushes up the bank rate, the sentiment of the market can change rapidly, and some have predicted that the rise could happen sooner, possibly even in the second quarter of next year.
Uncertainty is another key factor that can influence mortgage rates, and with events such as the next general election on the horizon in 2015, this could also act to increase the cost of wholesale funding, which would in turn result in higher mortgage rates.
According to a report from The Guardian, house price rises are also expected to be more moderate over the next year, with data from Halifax suggesting that house prices are set to rise by only 3-5% in 2015. According to the article, factors such as higher interest rates and reduced affordability are also likely to play a part in reducing housing demand.

Whatever 2015 may bring, here at Search Mortgage Solutions our expert mortgage advisors can help you to find the most suitable mortgage for you, to meet your individual needs and requirements. If you’re looking for a mortgage broker in Manchester, please do not hesitate to contact us today, and a member of our expert team will be happy to assist you with your enquiries.