Now Is The Time To Buy
Low mortgage rates and rising buyer demand means there has never been a better time to buy a property in Lancashire
Despite many buyers hesitating to act due to the political climate, the current confidence in the market remains with the best deals available right now. Fixed rate mortgages are very favourable with options such as two years at around 1.5 per cent and five-years below two per cent.
The rise in the number of available new build properties also continues to have a positive impact on buyers’ confidence with many housebuilders in the region calling for buyers to buy now.
Scott Howitt, sales director at Chartwell Mortgage Services, said: “There has never been a better time to consider buying a property. The Bank of England’s current base interest rate is significantly lower than it was more than a decade ago, which has given rise to many different mortgage opportunities.
“When you combine these low fixed-mortgage rates with the chance to secure your home with a five per cent deposit instead of a 10 per cent one, it makes buying a home a very attractive option.”
Anne Marie O’Doherty, regional sales director at Lovell Homes North West, added: “It was an impressive year for the north west property market, and we want more of our buyers to experience the benefits of this increasingly valuable region whilst the mortgage rates are so favourable.”
While some may be tentative at buying so early in the new year, it is actually a fantastic time to get onto or move up the housing ladder.
Think about what you want from your home, good location, amenities, transport etc, and as with any big purchase, do your research and shop around for mortgage deals. If you are a first time buyer, visit www.gov.uk/buy-sell-your-home for further information and the latest schemes available.