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Property market numbers are on the rise

By Terry Holmes - 24 July 2020

The local property market is currently on the crest of a wave. We’ve seen record numbers of buyers for the time of year, up 33% on 2019, many of them finding that lockdown exposed the limitations of where they are currently living.

First time buyers especially are taking the plunge with their numbers up over 50% compared to last year.

“Confidence is certainly on a high” said Beresfords CEO Paul Beresford “and people have re-thought their priorities with factors such as location and outdoor space far more important and that’s hardly surprising bearing in mind the events of the last few months.”

That confidence in the property market has led to major lenders such as Metro Bank re-introducing their 90% mortgages.

“The options for those getting onto the property ladder for the first time are great at present” added Paul. “Lenders are offering higher loan to value products; Stamp Duty has been scrapped on purchases below £500,000 until next March and Help to Buy is still available on most of our new build sites.

“Stamp Duty in particular is a major plus because that is something first time buyers have to find in cash”.

If you’re thinking it’s time for you to move and want some advice on your mortgages options from an independent expert, speak to Beresfords mortgage company, Flagstone. They will give you advice that is best for you, not the bank!