Independent Financial Life Planners Bishop's Stortford: Looking to buy a house?

Tuesday, 1 March 2016

Looking to buy a house?

Enable’s IFA’s in Bishop’s Stortford like many others have seen that according to the Nationwide housing market appreciation continued at 4.4 per cent in the year to late January. Meaning the average price of a home in the UK stands at £196,829. Nationwide chief economist Robert Gardner says “the labour market appears to have significant forward momentum. Employment has continued to rise at a robust rate in recent months and, while the pace of earnings growth has slowed somewhat, in inflation-adjusted terms regular wages continue to rise at a healthy pace.” “But the market is already characterised by a shortage of stock, with the Royal Institute of Chartered Surveyors reporting that the number of properties on estate agents’ books remains close to all-time lows”.

Alongside this the average deposit for a property has risen 15 per cent in the past year and currently stands at over £80,000 according to one mortgage broker. And the data, from the Mortgage Advice Bureau, says a typical buyer’s loan-to-value fell to 68.2 per cent in December, representing an annual decrease of 1.1 per cent. The broker firm says this is the lowest LTV seen since June 2010, and suggests borrowers are shouldering more of the cost of their house purchase themselves.

The continuing volatility of the market can be seen by other data from Mortgage Advice Bureau, which shows that affordability - based on the typical buyer’s income expressed as a percentage of property price- has been worsening for three months. If you are struggling to make sense of it all Enable's experienced IFAs are happy to talk you through mortgage options.

Your home could be at risk if you do not keep up your repayments

Source: Estate Agent today

Issued by: Enable Independent Financial Life Planners •  25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

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IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.