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When the Bank of England held interest rates at 0.5% at the start of this month, it was widely expected. Later on in the month, the picture changed when the governor Mark Carney said in a speech just over a week later that a rate rise “could happen sooner than financial markets currently expect”. Cryptic as always, but an indicator things are going to change. How and when will this affect homeowners on tracker mortgages? If we look at an interview given by the outgoing deputy governor of the Bank of England in May to the BBC, Charlie Bean said "The bank rate averaged about 5% in the decade or...

If you were to read any news article about house prices, it is generally encouraging for homeowners and landlords. Property prices are continuing to rise, rents are increasing and demand is still there. How can we tell when the market has bubbled and is close to bursting? The surveyors and valuers Connells has said that in April of this year, valuations fell by 15% compared to March. That’s quite a drop and could be due to tighter mortgage regulations that came in as part of the Mortgage Market Review or it could be buyers are no longer willing or able to pay rapidly increasing asking prices...

SOURCE: NAEA Website As the housing market continues its recovery, the National Association of Estate Agents (NAEA) today reveals the home extensions most likely to add value to a property ahead of sale. Research conducted as a part of NAEA’s latest monthly housing market report revealed that almost half (49%) of estate agents say adding an extra bedroom usually by converting loft space is the best way of adding value to a property. While an additional bedroom fundamentally changes the description of a property, other less drastic changes can also have significant, positive effects on...

London is booming. With such an increase in demand, we now hold regular open days on properties for sale and usually have an offer accepted the same day which exceeds our seller’s expectations. As well as being successful, these days have also been entertaining. On one open day in Beckton, I had a three bedroom terraced house for sale and several local residents keen to buy for their extended family members. They were desperate with such a shortage of houses on the market and when telling them it will be an open day when I meet them and not an exclusive viewing, they couldn’t hide their...

Gazumping may sound like an exotic African mammal, but unfortunately its true meaning is not so romantic. Gazumping is the act of a property seller taking a higher offer for their property from an outside party despite already having agreed a sale with another buyer for a lower amount. With property prices on the rise, this is an all too common occurrence unfortunately. The original eager buyer has all their belongings ready to go, have a buyer for their own property, planned local schools for the children and their journeys to work, forked up solicitor and mortgage fees then suddenly boom,...

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