Real Estate

Accord Mortgages has anounced this morning that it has reduced rates on a range of selected fixed rate products by up to 0.24%.

The intermediary-only lender has reduced rates at the 75%, 80%, 85% and 90% loan-to-values (LTVs), across two, three and five year terms.

Available to house purchase customers is a competitive five-year fixed rate mortgage at 2.20% for those with a 20% deposit, or at 85% LTV there is a 2.39% deal.

Both mortgages include the additional features of £250 cash back on completion and free standard valuation and come with a £995 product fee.

Those who want to fix for a shorter period can opt for a three-year offering at 2.37% at 90% LTV, which is available to both buyers and borrowers looking to remortgage and comes with a £995 product fee.

In addition, Accord has launched a 2.76% three-year fix at 90% LTV option for home buyers which comes with no up-front fees plus £250 cashback on completion and free standard valuation.

David Robinson, Accord’s National Intermediary Sales Manager, said: “We are sure the new rates will prove attractive to brokers and borrowers, and we are keen to offer mortgages that deliver value for money to our customers with features like cashback on completion. The five-year rate reductions will appeal to borrowers looking for the security of fixing their mortgage repayments to a competitive rate for a longer period.”


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The latest report from Halifax has shown that more first-time buyers climbed on to the property ladder in 2016 than in any year since 2007.

However, it comes at a cost as the lender revealed would-be home owners now need to raise more than £32,000 for a deposit.

Deposit sizes have more than doubled over the last decade. In 2006, the average first-time buyer deposit across the UK was £15,168. Now it is £32,321 – around 16% of the price of a typical first home.

According to the report, those buying their first property can expect to pay more than £200,000 across the UK generally and an “eye-watering” £400,000 in London. On average, in the capital, a first-time buyer’s deposit is more than £100,000, assuming they can also cover moving costs and stamp duty.

First-time buyers in London put down a 25% deposit on average in 2016, amounting to £100,445.

Halifax also revealed that during 2016, the average house price paid by first-time buyers was £205,170 – the highest on record. This average has grown by 7% over the last year, pushing it over the £200,000 mark.

In London, first-time buyers can expect to pay £402,692.

The number of first-time buyers is estimated to have reached 335,750 in 2016. This is the highest figure since 359,900 in 2007, and marks the third year in a row that the number has topped 300,000.

Halifax said the number of first-time buyers in 2016 was 75% higher than a low point in 2009, but 17% below a pre-crisis peak of 402,800 in 2006.

As the cost of housing has increased, first-time buyers have been taking out longer mortgages. In 2006, just over a third (36%) had mortgages lasting beyond the traditional 25-year period. In 2016, 60% of mortgages were for 25 years or more.

More aspiring first-time buyers are also having to factor stamp duty into their costs. Less than a third (29%) of first-time purchases in 2016 were below the £125,000 stamp duty threshold. This share was 45% in 2013.

The average age of a first-time buyer is 30, ranging from 27 in Carlisle in Cumbria and Torfaen in South Wales to 34 in places such as Slough in Berkshire and the London boroughs of Barnet and Ealing.

   Martin Ellis, a housing economist at Halifax, said record low mortgage rates, high employment levels and Government schemes such as Help to Buy have helped first-time buyers. The UK-wide Help to Buy mortgage guarantee scheme ended in 2016, but other schemes are still available.

   He added: “Across the regions there is a contrasting picture. In London – which has one of the youngest populations in the UK – the average house price for a typical first-time buyer is now more than an eye-watering £400,000 with an average deposit of over £100,000 – more than twice that in the South East, the next most expensive region.”

   Jeremy Leaf, north London estate agent and a former RICS residential chairman, says: ’The Halifax’s findings are good news in terms of the increase in number of first-time buyers but are also indicative as to what parents and grandparents put themselves through so that they can afford those deposits – with more than £100,000 required in London.

If the housing market is going to function properly, as the government has told us so many times it should, then we need to protect first-time buyers. First-time buyers are the life blood of the market as they tend to buy at the bottom and trade up whereas investors buy at one level and stay there.

Although lenders are supposed to be providing support via Help to Buy now that the mortgage guarantee element has been withdrawn, on the ground we are finding it is not happening in all cases and more flexibility on lending criteria at higher loan-to-values is required.’

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Woodford Green office just helped a vendor to follow his dream and set up his new life in Thailand.

Why choose living overseas?

Moving overseas is rewarding on so many levels, according to our customers. If you are seeking a place to retire, consider the cost of living relative to your savings. If you are an young entrepreneur, looking for new adventures, consider a place that inspires you and build you up for the next business challenges.

How can we help?

Many fail to make it happen, overwhelmed by the technicalities of setting up home and a new life from scratch. If you approach relocating with the right frame of mind the question remains: will you be brave enough to make the first step? If yes, we are here to help with Victor Michael living overseas services and real estate offers. To start, we have over 412 international properties on our books waiting for you to make your dreams happen.

Arrange a viewing with us. right in this very unique moment. It’s up to you to make it happen!

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Finding a good place to live in London can be a challenge, especially if you are focused in finding the perfect flat or a nice cozy place you wish to call home. If you’re new in town and no one is here to help we recommend you: Airbnb. Here you can find a nice cozy place to rent for a few days time, while you’re focusing on your search to rent or to  buy: either an old victorian house or modern apartment in central London.

Why London?

Well, here it depedends. Some move here, for business reasons, other for finding a new job and many others for studying in one of the great universitites you can find around town. No matter the reason, we all end up having the same first problem: where do I stay in London?

Here, we can recommend you with open hears the advice of a professional real estate agent. There’s no one better, who can show you around town for the best options you have available on the market. Also to help you get the best prices for the coziest houses or apartments in London.

Apartments ‘To Rent’ or ‘For Sale’ in London.

London has an incredible choice when it comes to variety and different types of apartments. No matter the taste, whether if you are looking for luxury apartments or value or a great riverview, there is for sure something outhere to suit your style and budget. To get a brief overview of the types of apartments you can expect to find in London, get in touch with one of our real estate agents.


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