Key Points to mention
Property Price drop in the last six months to adjust higher mortgage rates & rise of living costs
In the last 6 months there has been a drop of 1.3% of Zoopla price index, this is mainly due to the increased mortgage rates. However, demand has recovered recently reducing the decline.
The annual rate of price inflation is 1.9%, down from 9.6% a year ago.
We would expect prices to remain relatively similar for the rest of the year, with mortgage rates stabilising and demand showing promise. However, with the higher-than expected inflation rise, it is likely interest rates may rise, if they do this will of course have a knock-on effect to mortgages, then onto property prices.
The isle of wight offers stunning beaches, History and events for all ages all year round. If you live on the island or are planning a trip to the island you need these dates in your diary!
This summer the island offers so many events from music festivals, family fun days and sailing races.
Dates for your diary this summer! The ultimate guide:
Isle of Wight Festival
15th-18th June 2023
For the festival and music lovers. One of the largest music festivals originated since 1970 and still to this day one of the most popular music festivals. Held in Newport, Sea close park.
Have you ever considered why can you rent at a higher price of a mortgage?
However, you have not been able to borrow a lesser mortgage amount! Well Skipton Building Society have released a product exactly for those renters, 100% mortgage. This is the first non-deposit mortgage option since the crash in 2008.
We think this could be a fantastic opportunity for renters who later on want to buy, however it’s important to understand the potential risks when taking 100% mortgages out. There is a reason they were stopped! Let’s go through it…
- This product is only available those first-time buyers who have paid their rent in full and on time for at least 12 months
- It’s a five-year fixed mortgage and works just as other mortgage deals on fixed term basis, the only difference is you don’t need a deposit for Skipton’s
- It is portable, should you wish to move home during the fixed period
Key points to mention…
Newport Office, 11b Holyrood House, St Thomas Square, Newport, PO30 1SN
Tel: 01983 521212 (opt 1) | Email: firstname.lastname@example.org