UK House Prices Rise to a New Record High

Wednesday, April 28th, 2021

The latest house price index released by Rightmove has suggested that UK house prices have risen to a new record high and that properties are selling at the quickest pace ever recorded. **

The frenzied activity seen in the housing market is likely to be a result of several influencing factors and here at Caboodle Finance, we believe the key ones are:

• The extension to the Stamp Duty Land Tax holiday – Many buyers could potentially save thousands of pounds by completing their purchase before the end of June 2021 and could still make a significant saving even if they miss this deadline, but complete before the end of September 2021.

• The relaxation of COVID-19 restrictions – As the UK starts to come out of lockdown and the general feeling is more one of optimism regarding jobs and the future, potential buyers have become more confident for the first time in over 12 months which has released some pent-up demand.

• Increased mortgage and product availability – Many mortgage lenders are now offering products of up to 95% loan to value for certain customers and given the competitiveness of many of these mortgage products, buyers have decided to act now rather than wait.
  

When combined, these factors have resulted in a highly active mortgage market with many seeking professional advice from a mortgage broker who has their “finger on the pulse” regarding the various lenders, products, and applicable criteria.

In fact, irrespective of whether seeking to purchase a new home or remortgage an existing property, with the myriad of factors that there are to consider, it is understandable why many people will use a specialist mortgage broker in their quest to find the most appropriate product for them.

Experienced mortgage brokers are not only up to date with all the changes and criteria or restrictions that are currently in force, but are also able to determine, based on an individual’s circumstances and borrowing requirements, who are likely to be the most appropriate mortgage lenders in all the circumstances too.

With all that in mind, if you would like to read about what some of our clients think of the first-class personal service they have received from us, please check out our testimonials page, HERE.

After that, if you would like some no-obligation mortgage advice, to discuss your individual circumstances and requirements, please call one of our friendly experts here at Caboodle Financial Services of Sutton Coldfield, Birmingham on 0121 308 9114, or alternatively, complete our online enquiry form HERE and we will get back to you as soon as possible.

We very much look forward to hearing from you.

* * Source – Rightmove April 2021 House Price Index