AUGUST NEWSLETTER
Welcome to
our Wilkins Vardy High Summer Newsletter!
Let’s recall
for a moment those scorching few weeks of summer in July, when it was almost
too hot to bask in the sun and definitely too hot to work by mid afternoon.
As the
August Bank Holiday looms towards us and we all feel the “Autumn chill” in the
evening air, the housing market continues to march optimistically onwards,
despite what is normally considered a quiet period.
New property
instructions remain high, along with viewing activity, although the market
remains unpredictable with some vendors frustrated at the fluctuating interest
levels. Nevertheless I’m “quietly optimistic” that we’re well on the way to
another great year here at Wilkins Vardy – I’ll keep you posted.
Enjoy the
Bank Holiday and I’ll see you next month!
Best Wishes
Julia
Julia
Coombs, Director
TOP TIP – EFFECTIVE COLOUR SCEMING
Choosing
from a paint chart is one thing, but sometimes the colour that looked so great
in the tin can look insipid and lifeless on the walls. Read the enclosed
article and learn how to crystallise your ideas into the perfect lifestyle
design for you.
LOOK AT THIS FOR A CHILD’S BEDROOM!
A dream of a
room for any child mad on animals! – check out the rest of this immaculate 2
bedroomed property at 223 Williamthorpe Road, North Wingfield – only £99,500.
INVESTING IN A PROPERTY OR PENSION –
PROS AND CONS
Such a
difficult choice, with all the realistically priced investment properties on
the market, but the enclosed article should give you food for thought.
TIM’S BLOG
Tim’s
feeling refreshed and bronzed (well, almost) after his holiday, so challenge
him to get you a better deal than your current provider – you may save loadsa
money!
Mortgage market new boys provide help
to borrowers with credit record problems
Tim Malia from Mortgage Advice Bureau comments on recent
developments in the mortgage market:
What a week
it’s been with a series of firsts for the mortgage market.
New Governor
of the Bank of England Mark Carney signalled interest rates, which often
dictate mortgage rates, will only move up when a series of conditions are met.
Those include unemployment hitting 7% and a fall in inflation, neither of which
are likely to happen for three years. This offers more certainty than ever
before to mortgage borrowers and the market, although savers have less to
celebrate.
On Monday, a
new mortgage lender Magellan, named after the pioneering Portuguese explorer,
launched in England and Wales with high hopes of ‘rehabilitating’ borrowers
with a credit record blip. This is good news for those who have been stuck on
poor mortgage deals after a mortgage application refusal from a high street
lender, for example. But importantly the mortgage is only for people who after
a one-off life event like redundancy, for example, can offer a full written
explanation of how they got into payment difficulties in the first place.
The lender
also wants applicants to satisfy strict criteria and will turn down any
borrowers with serial credit problems. Applicants must also be 25 or over, earn
at least £25,000 and have maintained a clean record for the last 12 months.
Unusually,
the lender won’t be credit scoring mortgage applicants either and instead plans
to look at each application individually. Borrowers will pay a fee on a sliding
scale reflecting the property value and a 1.5% completion fee or a minimum of
£995, but there’ s no early repayment charge on the loan giving borrowers the
option to pay the loan off early.
Mortgage
Advice Bureau is one of the few mortgage brokers able to offer the mortgage to
those with a minimum deposit of 25% who want to borrow up to £400,000. The
lender is also willing to consider self-employed applicants and first time
buyers which is another welcome move.
Magellan’s
CEO Matt Gilmour, said: "In our opinion, a short-term financial wobble
should not preclude borrowers from mortgage finance on a long-term basis. We're
delighted to be piloting a new proposition which gives credit impaired
borrowers a real chance to obtain mortgage funding once again."
Elsewhere in
the housing market, property prices reportedly reached new highs in July.
Driven on by prices in the Capital and schemes like the government’s Help to
Buy, the average house price hit £232,969, actually beating the all-time peak
in 2008.
Tim is from Mortgage Advice Bureau at Wilkins Vardy. For further information please call: 07801 810782
Your home may be repossessed if you do
not keep up repayments on your mortgage.
There will be a fee for mortgage advice. The
actual amount you pay will depend upon your circumstances. The fee is up
to 1%, but a typical fee is 0.3% of the amount borrowed.
SIZZLING SUMMER AWARD FOR THE FASTEST
SALE
Despite the
excessive July heat and escalating office temperatures, Team WV maintained
their cool throughout, with normal high service as usual. Here are just a few
of the speedy sales achieved…
6 Grasscroft
Close, Loundsley Green – on at £95,000 – SOLD IN 3 DAYS!
4 Westwood
Drive Gardens, Inkersall – on at £169,950 – SOLD IN 10 DAYS!
8 Greenways,
Walton – on at £279,950 – SOLD IN 11 DAYS!
23 Peak
View, Loundsley Green – on at £139,950 – SOLD IN 16 DAYS!
ACHIEVE THE TUSCAN DREAM
Picture the
scene – you’re sat outside your own retreat in the heart of Tuscany, watching
the sun set over the distant hills after another glorious, sultry day, with a
glass of Chianti in your hand.
Not such an
impossible dream as you might think? Read on…..
DELIGHTFUL FAMILY HOME ON THE EDGE OF
THE PEAK DISTRICT NATIONAL PARK
Not quite
the same sunshine levels, but look at this superb location and plot. See
further details-you won’t be disappointed!
BACK DOWN TO EARTH WITH A BANG
Are the
green shoots of recovery coming through at last? We know what the media think,
but let’s hear it from the Bank of England.
A WONDERFUL SURPRISE!
A picture really
does say a thousand words. We’re always very appreciative of your kind comments,
but the superb buns and biscuits received from Ms Sinclair-Day following the
sale of her Chesterfield property will never be forgotten - very many thanks!
Ms
Sinclair-Day went on to say “Thank you all very much for all your help over the
past few months. Everyone has been great”.
That’s all
for now – let’s see what September brings.
