Help to Buy Property Boom
House Prices soared by £6,000 just last month in England and Wales boosted by a Help to Buy Property Boom.
That’s up 2.4% in just a month.
There was a fall of 4% in the number of new sellers.
Everyone knows that, according to the Economic Laws of Supply and Demand, if the Demand remains the same and the Supply (of housing) decreases then the price of that commodity (houses) will rise.
So, that’s what has been happening.
Buy To Let Property Owners
It seems that Buy to Let property owners are hanging onto their properties. It also seems that Buy to Let investors are long-term investors and are less likely to sell than other property owners.
With more Buy to Let property owners about, that is decreasing the supply of properties for sale even further and pushing up the price.
With mortgage rates at record lows and the Government helping new property owners to get 95% mortgages, there is a Help to Buy property boom on full flow.
Many people’s houses are earning more than the people who live in them.
Lenders Competing for Customers
Estate Agents are saying that they are seeing the lowest ever level of quality properties on the market. No one is selling except those who have to, as they watch their house prices rise and rise.
Lenders are now having to compete aggressively for customers and UK Contractors are taking advantage and sealing in these great rates. There’s a mortgage war happening at the moment and a Help to Buy Property boom.
Specialist contractor mortgage brokers are getting contractors fantastic rates, at the moment, based on just the production of their contract. They are also getting them 95% Help to Buy mortgage offers based on their daily rate annualised.
For more information see Specialist Contractor Mortgages