Brexit; a Current Window of Opportunity?

Interestingly I have noticed prospective buyers are increasingly waking up to the fact that the current window of opportunity could slam shut in the event of a Brexit deal and are being more proactive and Lock & key yet again are reporting strong sales figures with delighted clients now sold STC.

There’s a huge amount of pent-up demand out there and it’s starting to come through. Underlying demand has strengthened as potential buyers respond to the current price adjustments.

Currently there are fewer properties on the market and the number of offers being submitted through Lock & Key is increasing as pent-up demand build.

We acutely recognise this and as the leading agency are focused on selling the current stock we have. Our clients certainly see the benefits of this.  Home sales proved remarkably resilient last month as British families continued buying property despite Brexit turmoil wracking Westminster.

A total of 33,621 mortgages were approved to purchase a home last month, according to data from UK Finance which represents high street banks and building societies.  Those mortgages amount to £7.8bn of lending, up by almost £500m on the year.

The suspicion is that first-time buyers are still moving heaven and Earth to get on the ladder while they can take advantage of some of the most generous government incentives in living memory.  There is even a mortgage that will help first-time buyers to purchase a property with no deposit whatsoever.  The bank agrees to loan 100 per cent of the value of the property to first-time buyers. However, this is on the condition that a family member agrees to deposit savings equivalent to a minimum of 10 per cent of this loan into a fixed-rate savings account with the bank.

My continued message, there are no excuses, the market is here and open for business, forget the noise, price correctly, choose a no nonsense and straight-talking agent who is on your side. Call Lock and Key 01225 707342

If you spent March considering whether to sell, buy or both, one factor is key. That is, you should talk with Lock & Key independent estate agents ‘on the ground’ for advice on the local market, the best time to put a home on sale, and the most appropriate marketing strategy to take advantage of a 2019 market which will require even more expert guidance than usual.