House Prices to Rise
House prices to rise by 30% according to a new survey due to greater demand.
They are expected to rise by 30% over the next 5 years in the UK according to Rightmove, an online property portal.
House prices in London are expected to rise by 33% over the next 5 years despite signs of a recent cooling.
In the South East, house prices are predicted to rise by 37%. This will be caused by people moving out of the capital into commutable areas where the house prices are less onerous.
For instance, house prices in Southampton and Luton are expected to rise by 43% and 41%. They will rise in Brighton by 41% and Swindon by 40%.
The North West will see the slowest house price rises. However, they will still be up by 24%.
Good Time to Buy
This would be a good time to buy before house prices rise any more.
If you are looking to buy, contractors would be best to get quotes from specialist contractor mortgages brokers. Tony Harris has been getting contractors mortgages for over 15 years.
For instance, if you walk into a high street bank or building society they will demand to see three years worth of accounts before they would even think of offering you and contractor mortgages.
Furthermore, they would also base their offer on your Director’s salary, which most contractors like to keep low.
Daily Rate Based Offers
Specialist contractor mortgages brokers can get you quotes based on your daily rate annualised. They would calculate your yearly income as Daily Rate x 5 x 48. Furthermore, they would then make you an offer of around 4 times that depending on circumstances.
With Help to Buy you can now get contractor mortgage offers of up to 95%.
It seems that Tony can get first time contractors contractor mortgages offers on the very first day of their very first day contracting. It seems that they can have the keys to their dream homes in just 4 to 6 weeks after starting their first contract.
To find out more about specialist contractor mortgages or to apply you should click on Specialist Contractor Mortgages