Homebuyers Reports

Is it only a week ago that we voted to leave the EU?
So much has happened over the past seven days – and now it appears that we may be in line for another interest rate cut.
Rates have been at their historic low of 0.5% since the recession and now the Governor of the Bank of England Mark Carney has signalled that we may see further reduction.
When and by how much is open to conjecture but many analysts expect an initial cut by one quarter of one per cent to 0.25% this summer. Potentially this could be followed by a further cut to 0% later in the year.

The property market has come under the spotlight again, with the Government's latest interventions included in the Queen’s Speech.
The Neighbourhood Planning and Infrastructure Bill was among the measures included by the Government in its proposed legislation announced by Her Majesty at Parliament.
Potential changes include planning reform and legislation to give communities greater power over their own areas to help meet planning need.

What are you up to this bank holiday weekend? Watching the football on TV, househunting, shopping, or getting out and about?
We’ve had another busy week with demand for professional services continuing to grow. We hit the ground running in January and have gained pace as the year’s progressed.
Although the EU referendum seems to have caused uncertainty in some quarters, in our experience we've found that our business in the property and construction sectors remains strong.

New Government proposals are set to give homeowners the power to change their mortgage supplier within a week.
The move – announced in the Queen’s Speech – would be as quick and easy as switching a bank account, according to Whitehall.
Now the Government has launched a consultation to gauge the views of the public and business to see what they think.
Under the proposals in the Digital Economy Bill, the aim is to give consumers more power and make sure they get the best deals.

How old is too old for a mortgage? Well, the upper age limit to pay off a mortgage is now 85, according to the Nationwide.
The building society has raised the ceiling by 10 years due to ‘increasing demand’.
With many homeowners traditionally taking out a 25 year capital repayment mortgage, this means a new applicant could successfully apply for a home loan at the age of 60.
Meanwhile, the Halifax has lifted the cap to 80.

Welcome to the first of our new ‘Surveying the Scene’ columns from our Director Ian Lee.
In a lighthearted look at the world of surveying – with some serious messages – Ian has spelled out the dangers of leaping into DIY home improvements without thought.

Most of us have seen those DIY disaster programmes on primetime TV following the (mis)fortunes of distressed householders as their homes crumble around them.

A story about our Consultant Ken Veness has hit the headlines in the Portsmouth News today.
It tells how Ken was recently honoured with Lifetime Membership of the Portsmouth Property Association (PPA) in recognition of his dedication and long service.
Ken is widely respected in the industry. As well as being a former Chairman of the PPA, he is also a Fellow of the Royal Institution of Chartered Surveyors (FRICS).
Our Managing Director Bill McAndrew, Director Ian Lee and Chartered Surveyor Alf Wimshurst also all hold the prestigious RICS Fellowship status.

The property market has hit the headlines again with controversial Government plans to extend Right to Buy to housing association tenants.
It is proposing to allow housing association tenants to buy their own homes, with discounts similar to those currently enjoyed by council tenants.
However, MPs from the Public Accounts Committee (PAC) have questioned how the Government’s new policy will be funded and whether adequate replacement homes will be built.

As a registered company with the Royal Institution of Chartered Surveyors (RICS), we’ve been asked to join in a new consultation about business rates.
Business rates have been one of the most contentious issues for SMEs – particularly retailers – for many years now. Of course, the issue of business rates has many knock-on effects for the wider property market and economy; not least on the health of the high street.
In its March Budget the Government announced the release of its long awaited review into the tax – and invited comments.

What are you up to this weekend? We’ve had another great week, which has just flown by.
We had a superb March, which has continued into April; this has been reflected in the latest figures from the Council of Mortgage Lenders (CML).
The CML (www.cml.org.uk/home/) has credited a big jump in mortgage lending in March to a late surge among landlords aiming to beat the April 1 deadline for the new Stamp Duty Land Tax surcharge.
It says that gross mortgage lending reached £25.7bn in March - 59% higher than in March 2015.


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