The Property Den with Ken & Glen Episode 32.
This week we delve into the current market vaults and discuss the following:
Lloyds have announced that they expect house prices to fall five per cent this year, with a peak to trough fall close to 11 per cent overall, its prediction: the trough will occur in the second quarter of next year in its best-case scenario.
They also feel that we may have hit the peak with the base rate and that this would start to fall from Q4 next year.
Down valuations – we have been seeing this occur a lot more of late what do we feel is driving this current trend?
Attention also turns to next month’s Autumn Statement; the rumoured mortgage guarantee scheme renewal would
be some support for those small-deposit movers. Anything that can help those with smaller deposits is always welcome, but we know most borrowers opt for a lower LTV mortgage if they can, to avoid higher monthly payments.
Whilst cancelling the scheme may be seen as a disappointing outcome by some, in reality it is unlikely to have a significant impact on consumer choice, as many lenders are offering five
per cent deposit deals outside of the government scheme.
Are Rates falling or rising there seems to be some confusion out there in the market place.
Whilst some lenders do still seem to be in the mood to reduce rates to entice new clients TSB pulled their 5.14% rate and will be coming back to market with an increase of 0.20 so going
to 5.34% - did they come down too low too fast ?
Then its listener Question
time.
Is it better to get a mortgage with a bank or a building society? What is the difference?
I heard that having children can reduce your borrowing but can pets? I have horses and 3 dogs?
Should I stay on my standard variable rate while everything is changing?
We live with my dad and my dad’s retired on low income, we have the opportunity to buy the property via the council is this possible using just mine and my husband’s details ?
That’s all folks for this week.
So, its Goodbye from Ken
And
Its Goodbye from Glen
Goodbye!!
