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It’s great news for any military personnel! From 1 January 2023, The Forces Help to Buy Scheme will become an enduring policy, ensuring its availability to all service personnel now and in the future.
It was originally introduced way back in 2014, this £200 million scheme was brought in as a means of helping those in the military to get onto the property ladder. It was meant to go away in December of 2019, but thankfully it stuck around!
Eligible military personnel will be able to borrow a deposit that is up to half their annual salary (a maximum of £25,000), without any interest added on. This can either be used to purchase their first home as a first time buyer, or move into a new home.
The best part of using this scheme is that you won’t need to have any current savings in order to get a home. A portion of the money that is raised from the loan can be put towards either your deposit, or something else, such as:
This is amazing for forces personnel and even better yet, the majority of mortgage lenders will accept the loan as your deposit for a new home.
The Forces Help to Buy Scheme is a lot more laid back than other schemes, allowing you to pay back your loan over a period of 10 years. This means you don’t have to feel so rushed and can enjoy life in your new home.
Once before, you may not have thought you could ever own your own home. Times have changed though and so long as you have served your country and can meet the right criteria (length served, service term left and medical categories), you will meet the eligibility criteria for purchasing a home using this scheme.
Click here to read through further information on the Forces Help to Buy Scheme from the government.
Our fast & friendly mortgage advice team in York will support you from day one. From your first call, until completion and beyond, your dedicated mortgage advisor in York will be there to make sure you end up with the best deal for your circumstances.
As a company, we are proud of the levels of customer experience we provide, reducing stress levels and getting results. Book your free mortgage appointment and we will see how we are able to help you with your Forces Help to Buy mortgage.
Please note, the Forces Help to Buy mortgages in York is not the same as other standard UK Help to Buy Scheme.
Whether you are looking to buy a home as a first time buyer in York, are moving home in York, or are ready to remortgage in York, you’ll quickly begin to realise there are a lot of options out there for you when it comes to taking out your mortgage.
In this article, we have put together a comprehensive list of the most popular types of mortgages available to customers on the mortgage market.
If you have any questions regarding any of the mortgage options that we talk about below, then please do not hesitate to get in touch with a dedicated mortgage advisor for expert, open & honest mortgage advice in York & surrounding areas.
A fixed-rate mortgage will mean that your monthly mortgage payments will remain unchanged for the duration of your mortgage term.
The length of which you want to fix your payments is your choice, with typical choices being somewhere around 2, 3 or 5 years or longer.
No matter what happens with inflation, interest rates or the nationwide economy, you know that your mortgage payment, which is usually a person’s single biggest outgoing, will always be routinely consistent.
A tracker mortgage will serve the purpose of providing you with a mortgage interest rate that mimics the Bank of England’s base rate.
This means that neither you nor the mortgage lender will set the rate and it will change as and when the base rate does. If the base rate goes up, your interest rate goes up. If it goes down, yours will go down too. Of course, this happening is beneficial to you.
You will be paying back at a percentage that is above the Bank of England base rate. If we use this in an example; Let’s say the base rate is 1% and you are tracking at 1% above the base rate, that means you will be paying back your interest at a rate of 2%.
When you take out a repayment mortgage this means that each month you will be paying back a combination of both the interest and capital. This is the standard mortgage people think of when looking to buy a home.
Going off the basis that you can keep your payments going for the mortgage term duration, you will be guaranteed to have paid it off in full and own the home of your dreams by the end of it.
This is generally, across the industry and the wider world, considered the most risk-free way to pay your capital back to the mortgage lender. Early on in your term, the amount you’ll be paying will be mostly the interest, with your balance reducing at a slower rate. This is especially the case if your term is 25, 30 or 35 years.
The process quickens up within the last ten years or so of your mortgage, where you will be paying back more capital than interest, with the balance reducing at a far quicker rate.
Whilst we do still regularly encounter many buy-to-let mortgages being set up on an interest-only basis (this is an option that works out much better for many landlords), it is increasingly more difficult these days to get a residential property on an interest-only mortgage.
The reason for this is that once you reach the end of your term, you will still have the full mortgage amount to pay off all in one go, with no additional income to fund the amount you’re required to pay.
That being said, there are various unique circumstances where this can be a suitable option for customers, including downsizing when you are older or if you happen to have other investments you can use to pay back the capital.
Lenders are often incredibly strict when it comes to offering these products now and the loan values tend to be much lower than they were in previous years.
The way an offset mortgage works is that your mortgage lender will set you up a savings account that will work in tandem with your mortgage account.
To explain this using an example, let’s say that you have a mortgage balance of £100,000 and you deposit £20,000 into your savings account, you will only be paying interest on the difference between those figures, which in this instance would work out at £80,000.
This can be a very efficient way of managing your finances, especially if you are wont to be paying higher rates of tax.
A 95% mortgage is as simple as the name would suggest; you are borrowing against 95% of the price of a property, and then you are covering the remaining 5% with your deposit. An example of this is if you looked at buying a property that was worth £150,000 with a 95% mortgage, you would be putting down £7,500 as your deposit and borrow the remaining £142,500 from the lender.
Off the back of the March 2021 Budget, Boris Johnson announced a Mortgage Guarantee Scheme for mortgage lenders, making 95% of mortgages more readily available from the bigger high street banks.
This is fantastic news for first time buyers and home movers alike, as this scheme will continue running until December 2022. Certain terms and conditions will apply though, which is something your Mortgage Advisor in York will be able to look at, to see if you qualify.
All our customers who opt to get in touch will receive a free, no-obligation mortgage consultation where one of our dedicated mortgage advisors will be able to make a recommendation on the best possible route for you to take.
95% mortgages are usually accessible by both first time buyers in York & those who are moving home in York. Whilst saving for a 5% deposit sounds like a pretty straightforward concept, you’ll still need to have an acceptable credit score and prove that you can afford your monthly mortgage repayments, to access a 95% mortgage.
A good credit score is essential in the process of obtaining any mortgage, especially a 95% mortgage. Things like paying any current credit commitments on time, ensuring your addresses are updated and checking that you’re on the voter’s roll, can all help with your credit score.
Affordability is another one that is important to take note of. By giving the lender details of your income and monthly outgoings (things like your bank statements will be necessary for this) and any pre-existing credit commitments, your lender will be able to get a general overview of whether or not you can afford this type of mortgage.
Nowadays we see lots of family members helping each other get onto the property ladder, especially parents looking to further their children’s lives. The way this usually happens is by gifting the person looking to find their home, the deposit required. Known through the industry as the “Bank of Mum & Dad, Gifted Deposits are only intended to be a gift, and not as a loan. The lender will need proof that this has been agreed upon before it can be used towards your mortgage.
When looking for a 95% mortgage, you want to make sure you have the right type of mortgage. Each mortgage type works differently, with that choice allowing you to find one that is most appropriate for your personal and financial situation.
Some homeowners and home buyers prefer Fixed Rate or Tracker Mortgages, mortgage types which mean you either keep interest rates at a set amount for the term given or have your interest rates tracking the Bank of England base rates.
Alternatively, you might find that Interest-Only or Repayment Mortgages are more your style. Interest-Only allows cheaper payments until you need to pay a lump sum at the end (mostly now used for Buy-to-Lets), whereas a Repayment mortgage (a normal mortgage if you’d like) means you’ll be paying interest and capital combined per month.
Seeing as a mortgage is such a large financial outgoing, you need to be prepared and need to be aware. You might find things like higher interest rates, remortgaging difficulties due to less equity and then negative equity all cropping up if you’re not.
There is no need to worry though, as all these can be avoided if you’re savvy enough with your process to begin with. The more deposit you put down for a property, the less risk the lender will see you as.
A larger deposit, of say 10-15%, would not only reduce the rates of interest by a noticeable amount but would also give the property more equity and reduce the risk of negative equity, thanks in part to you borrowing less against the property.
So, whilst the risks may seem intimidating, planning and saving for a bigger deposit to access something like a 90% or even an 85% mortgage will be a massive help in your mortgage journey and something you’ll be able to reap the rewards from in the future.
Nowadays, first time buyers in York are becoming more attentive to their credit score than they used to be. The public seems to be more conscious of their credit score role in obtaining a mortgage, so most people who contact us for Mortgage Advice in York seem to have already checked their credit report.
Credit reporting agencies like Experian, Equifax, and many others have come in handy in helping people get their credit report. However, for first-time homeowners, we often recommend Check My File. They offer a 30-day free trial and monthly £14.99 subscription package, which you can cancel at any time. Check My File provides a detailed credit report arranged in color-codes for ease of reference and understanding.
Try it FREE for 30 days, then £14.99 a month – cancel online anytime.
When offering clients Mortgage advice in York, they always inquire to know if we will check their credit score. We understand that excessive credit search could reduce one’s credit score, so we do not do any search unless with their permission.
A hard credit search entails detailed scrutiny of your credit report. Financial institutions should seek a client’s permission before conducting a hard credit search. Lenders always want to get a more exact and in-depth knowledge of your financial history to know if you meet their requirements.
Meeting their credit criteria after a hard credit search highly improves your chances of getting your credit approved. You need to ensure that you can provide evidentiary support of the satisfactory documentation and ensure that there is no falsification or error in the details contained therein.
The downside of hard search is that it will be indicated in your credit report, which would be evident whenever someone performs a credit search on your account in the future. This isn’t such a bad thing, but when lenders see that you have multiple credit searches on your report within a short time, they could misinterpret it to mean that you’re applying for different credits concurrently.
They may not inquire to know the circumstances that led to these hard credit searches. Instead, they may conclude that other lenders performed these searches, and after their investigations, they threw away your application, so you had to move on to other lenders.
Soft credit search only assesses your finances to know what you can afford with your available credit. It basically applies to price comparison websites and identity verification.
In recent times, some lenders prefer to conduct a soft credit search, although it doesn’t provide them as much information about a client’s financial history as a hard credit search does. However, obtaining an Agreement in Principle from the lenders is a strong pointer that your mortgage application will be approved.
The significant advantage of soft searches is that banks and other financial institutions will not see how many soft searches have been done on your account. However, the number of soft searches will be visible to only you- and you’d be amazed at how many have been carried out on your account. Since banks and lenders cannot see this information, you can apply for an Agreement in Principle for a mortgage- and it won’t damage your credit score irrespective of the outcome of the application.
Every aspiring homeowner wants to present themselves as financially responsible individuals. Therefore, it is pertinent to explore all legal routes of improving your chances of getting the property you desire at the lowest possible price.
This is the reason why the bulk of our mortgage advice in York revolves around helping people increase their credit score and keep their record in good standing to make them attractive for lenders and other financial institutions.
First time buyers and home movers in York use a mortgage broker to help purchase a property go as efficiently as possible. Buying a home can be a highly stressful experience, and our customers like to know they have got someone by their side, on hand to answer all their mortgage-related queries and questions.
Our mortgage advisors in York will ensure you obtain the most affordable mortgage that suits your circumstances. We take complete responsibility for advising the most suitable mortgage for you and package your application to the lender to provide you with the best chance of success. The same applies if you choose to come back to us when looking to remortgage in Hull too, we like to know our customers are on the cheapest deal for the entire mortgage period.
We think talking to an experienced mortgage advisor in York early in the process is a great idea. We may help you work out what you can afford to pay and how much different Lenders will let you borrow. You would be amazed at the vast differences between each mortgage lender to the maximum mortgage amount you are likely able to borrow.
Straightforward mortgage advice in York can play a large part. We keep all new and existing customers notified about their application’s progress by email. It’s good to know that we are also at the end of the phone when you need us, or if something goes wrong during the process, our mortgage advisors in York can keep you updated on every step.
Mortgage brokers work for the customer, not the lender. We are in your corner throughout your entire Mortgage journey, sometimes having to argue the strengths of an application to ensure it goes through. We understand our customers’ financial situation inside out. By requesting and checking your proof of income and bank statements well in advance of a lender seeing them, we look to avoid any potential hurdles before we hit them carefully.
We can also help you choose the right type of survey for your transaction and instruct a solicitor on your behalf to carry out the legal aspects. We are experts in completing application forms on behalf of our clients to ensure accuracy and give your application the best chance of completion.
Finally, a great mortgage advisor will love to build up an ongoing relationship with a client. It frequently starts with an affordability assessment and agreement in principle before even finding a house.
Even after the purchase is complete, we keep regular contact via email and re-engage by phone in the six months running up to the initial mortgage product coming to its end. We then compare the market on your behalf once again to obtain the best remortgage deal available.
Divorce or separation from a partner is always a daunting experience. However, if you and your ex-partner have finally decided to part ways and bear a joint mortgage, you would be worried or confused about how to work around a solution.
Here are three main questions that most ex-couples thinks of while receiving Divorce & Mortgage Advice in York regularly:
To help you understand the basics of working around a solution, we’ve put together the following guide to make things a little clearer and, hopefully, a little easier for all concerned. Often the case gets complicated if there are kids involved. It’s often the mum who stays in the property, but there may come a moment that whoever is in position wants to take over the Mortgage in their own hands.
When you are trying to remove your ex-husband’s name from the Mortgage, you’ll need to provide sufficient evidence that you’ll be able to meet your mortgage payments successfully on your own. Lenders are instructed to review your salary and your disposable income and then decide if you are financially strong enough to manage the load of instalments or not.
Similarly, the lenders will evaluate your ex-partner’s affordability and decide whether he’ll be able to afford mortgage payments forward or not. So a thorough check will be performed on both parties regardless of whether you have stayed up to date with your mortgage payments in the past or not.
Quite often in these situations, someone can intervene to replace the ex-partner such as a family member or indeed your new partner. You can also reach out to Mortgage Lenders for help.
If you decide to remove your name from the Mortgage, it’s a more similar process to how you removed your ex-partner’s name. But since you choose to vacate yourself from the property and move on, it might create difficulties for you at times.
This might need consent from your partner that you want to call off your name from the Mortgage. Your lender will also perform an affordability check on your partner to find out if he can afford the future mortgage payments or not.
Once you get given consent to remove your name from the Mortgage, you’ll undoubtedly start looking for a new house of your own. The mortgage payment for your old property will be considered if you want to buy a new property in the future. Hence, it’s essential in these instances that you take Specialist Mortgage Advice in York before making an offer. You’ll find some lenders as more generous while others are strict.
The answer to this one is yes, you can. Lenders & their credit scoring systems consider many factors before they offer you a mortgage. Continuous and timely financial payments are just one of these. The lenders will scrutinize how much you are contributing to the existing mortgages and whether you will be able to manage additional mortgage payments on top of them or not.
They will also consider the risk factor, for instance, how likely your home gets repossessed because you could not afford your mortgage payments. They will not take any risks either. The monthly payment of the Mortgage you still hold with your ex will need to be input alongside any other loans & credit commitments you may have.
Once we have keyed all this in for you the various Lenders’ systems will confirm the maximum amount you can borrow so you know your budget at the outset & how much deposit you will need to put down.
If you are a first time buyer in York or are moving home in York with your house on the property market, you may be aware of the bigger estate agents and builders that have an in-house mortgage advisor and conveyancing solicitors that they would want you to utilise.
Over the years as a mortgage broker in York, we have worked as a trust and strived to provide a personal, caring service for all our customers. To provide this type of service, we don’t work with banks, building societies or estate agents meaning we work solely for you as our customer.
When speaking to customers, we find that they are affected by increasing pressure from their estate agents to use their in-house financial services. Below are just some of the stories we have encountered:
It’s known that many estate agents out there are known to refuse to put an offer forward if you decide to use a different mortgage advisor instead of their own. In some cases, they have refused to forward an offer to the vendor due to someone who has utilised their in-house mortgage advice service and has an offer they’d rather show favouritism towards, even if it’s lower.
A reputation that we have heard about estate agents is how they quote ridiculously high when it comes to conveyancing fees. This is something many of our customers have experienced before. One significant case had the customer being charged £1,500 for a regular purchase with a particular estate agent.
The good news was our expert mortgage advisors helped with lowering this cost. From this, we recommend that the client approaches another conveyancer within the area and they were able to get this down to £750 which is half the quoted price.
When you have made an offer, you would expect to get a phone call confirming whether or not you’ve been accepted which seems logical. Unfortunately, this isn’t always the case. The estate agent will get in touch and demand to know which conveyancer you have used.
Furthermore, the estate agent will refuse to take the property off the market until you agree that you will use their own in-house service. As you probably have guessed, their quotation will be very overpriced and very unfair to the customers, however, they will put you on the spot and make you feel it’s your only choice to take. A Mortgage Broker in York can very much help you prepare for this. One question that you may be thinking at this point is…
They are highly illegal. As an individual, you have the freedom to use whichever companies you feel best suit you in the process. You choose which broker, conveyancing or another financial service you want to use.
If you haven’t explicitly signed a contract in the beginning that you will only use their services (which you won’t be offered anyway), there is no obligation to use their services for anything besides the process between yourself and the seller of the property.
It’s good to keep in mind that when negotiating a purchase price think if the people selling the property you’re looking to buy need to know your financial situation and know the amount you’re able to borrow to pay for that property. This is something that they will use to their advantage when pushing their in-house service.
You need to be vigilant stand your ground and not fall under pressure. Your future dream home and financial situation lie in how well your mortgage process goes.
Here at Yorkmoneyman, our team always have your best interests at heart, keeping you updated in the process and helping you overcome any hurdles you may encounter to try and relieve any stress you may have.
If you are looking for support on your mortgage journey, please get in touch and our team will see how they can help in the hopes of achieving your mortgage goals.
As a First Time Buyer in York, it’s key to be aware when making an offer that there are other potential buyers that you are almost competing with. This is why you need to work hard in making yourself look favourable in a financial light by showing that you are in a serious position to proceed. This in turn will be beneficial when it comes to getting an offer accepted.
Regardless of the lengths you go to, in the case that a cash buyer makes an offer, they will be a high priority. This is due to the fact that there aren’t many things that could go wrong in these circumstances which can make the completion process quicker. The good news is that cash buyers are quite rare to come across.
As a Mortgage Broker in York, we do recommend that you send over a copy of your Mortgage Agreement in Principle to the Estate Agent. Furthermore, this will be an additional benefit for you when negotiating against other potential buyers if they haven’t got this document to hand. Our team can get an Agreement in Principle sorted for you very quickly. In the case where your case seems simple, then there is a possibility that you will be offered this on the same day.
Negotiating plays a big part in getting a mortgage. One thing to keep in mind is that it’s common for your initial offer to be rejected so don’t panic if it does. In this circumstance, your Estate Agent may give you the option to increase the bid. Remember to be sensible and go for the amount which seems the most reasonable price that you can afford.
You may find that your second offer is also not accepted. This could be due to willingness towards the payments of the asking price. With this in mind, if the property is new to the market and the asking price seems too high, it’s best to be prepared to find another property.
If you are struggling to provide a good estimate along with the correct asking prices depending on the area, check out “sold” prices on property websites like Zoopla and Rightmove. The majority of this data is collated from the Land Registry, meaning it should be reliable.
Certain properties may stand out in terms of the price and may seem much lower in price in comparison to other houses around them. There will be a reason for this. The most common causes include:
Here at Yorkmoneyman, we will provide a helping hand through the offering strategy. It may seem like a daunting process, but it is also an interesting part of the process.
Making a suitable offer is an essential part of getting the property you like. There are some key factors you need to keep in mind when it comes to making an offer on any property that you are looking to purchase. Sellers’ dream buyers aren’t always the ones that provide a reasonable asking price and stand out from the other buyers. There are some additional things the seller considers when selecting the right buyer.
Even though you can get a verbal offer either in person or on the phone, the majority of the agents now ask for you to send your request via email as a record for both parties. After this, the offer will then be taken to the seller who chooses to accept or reject your bid. An agent is responsible for passing any offers they receive to the seller for their consideration.
Representing yourself as a serious, organised buyer who can show proof that they can afford the property with a ‘mortgage agreement in principle’. It’s also best you have a solicitor in place. From this, you can advance their details when the offer on the property is accepted.
It’s likely that many sellers prefer buyers who don’t have any baggage of previous mortgages such as First Time Buyer in York or buyers with pre-organised mortgages.
For those that are chain free and are organised house buyers, your transactions and agreements will process quicker.
Tip: In the circumstance where a seller is wanting to sell soon as or has been trying to sell the property for some time, they might accept a lower offer than the asking price as well. In particular, if you purchase will through quickly.
Sometimes, sellers are not constricted by time or other factors which is why they will for the buyer who can offer a higher price to maximise the value of the property.
Whatever price you are offering for the property, do it with assertiveness and confidence. Many negotiations do involve several rounds of offers and counter-offers.
You could be attracted to a particular property, however, it’s best that you have some budget in mind. By doing this, you will be helping yourself when deciding the maximum you can offer for a property as well as concluding whether the investment is worth it for you in the long term. Your agent will need to be transparent to make you aware of the amount of interest in a property in order to help you make a decision.
Make sure that it is clear to all parties that the offer is:
Also, it’s good to check with the agent that the property has been taken off the market in order to prevent the risk of you being gazumped.
The process of buying a property can be the most exciting but expensive commitment of your life. Therefore, it’s key you have a good understanding of the expenses that come with it. Be aware that all the varying costs can combine if you’re not cautious for instance you might find you are paying more for certain parts of the process than you initially thought.
Below we explore the different costs when it comes to buying a property in York.
As a first time buyer in York, this article is brilliant if you are looking for a breakdown of all the costs you need to consider as well as what they mean.
If you are moving home in York, this is brilliant to read if you need to refresh on the costs that come with moving into a new property for you to prepare.
When you have put down an offer on the property in York and it’s been accepted, it’s then time for your lender to carry out a valuation on the property. By doing this, they can see if your offer truly reflects the value of the property. Factors that may impact your valuation include structural damage, property age, the local market, etc.
The cost of these surveys will vary depending on the type of valuation which can be from free to several hundreds of pounds. In some cases, you will be offered this for free, however, the price is usually incorporated into another cost or it may be part of a package when taking out a particular product.
There are many different types of valuations available and will vary in price depending on which one you choose. For instance, if you are looking at purchasing an older property, you will likely need to have a full structural survey which means you may need to pay a lot more compared to someone with a new build.
To find out more information about the range of surveys out there, check out our article here.
You may find that your lender will charge you for taking out a mortgage with them. This fee usually comes with the products with the cheapest rates. Keep in mind that not all mortgages will come with an arrangement fee but if they do, it may be a large fee like £999. This all comes down to the lender and the product.
Sometimes, customers are asked to pay this upfront or may have the option to add these to their mortgage balance. For those who choose to add them to their mortgage, this could attract further interest charges. Being a Specialist Mortgage Broker in York, we have access to a large panel of lenders which allows us to search through thousands of mortgage deals for you to find you the perfect product for your circumstance with as few additional costs.
It’s key that you seek the services of a solicitor who can sort out the legal arrangement of the mortgage process. When it comes to the fees, these will be quoted differently depending on which firm. Usually, a low-value property is around £600. Whether it’s leasehold or freehold, you will need to show the solicitor the new property’s address as well as the purchase price to get quotations.
You need to make sure that:
If you are selling a home in York, you’ll need to factor in estate agency fees. Currently, Estate agency fees are increasing along with property prices, it’s likely that you will be paying between 1-2% of the property price. You will be paying at least £500 to sell your home. Keep in mind that this may rise if you are looking for a more personalised service.
When you complete the process of a property purchase, the solicitor will collect a tax called Stamp Duty along with any solicitor’s fees and disbursements.
For more information regarding stamp duty check out the link here.
A Mortgage Broker in York will likely charge a fee for their service. The good news is that you will be aware of the amount you’re paying and the amount it will cost before going ahead with the process.
Find a reputable company that charges upon completion only. Stay away from application fees where your money will be at risk.
Removal fees can vary depending on the service you want, how far you’re moving and the amount of stuff you have! Either way, this will involve moving all your household items from your old property to your new property.
There is also the option to hire a van which can be a cheaper alternative as it will just be yourself moving the items. In some cases, this can cost less than £50. On the other hand, many people do like to pay for the full service so someone will pick up your belongings and help you move. This can be up to £1,000 for this type of service.
Get in touch with our team today who can book you in for a free mortgage appointment with a moving home mortgage advisor in York.
Typically speaking, the majority of people looking at moving home in York, will need to sell their current home in order to do so. In selling your home, you will free up the equity within it (the amount at which you sell for minus your current mortgage balance), to use towards the deposit for your next purchase.
Despite this, many homeowners will not look to sell their property until they have found the new one they would like to buy. Once you have found that property, you will no doubt be looking to sell your home quickly.
It all comes back to the way a home is marketed and presented when it is listed for sale. This can have a big impact on your ability to sell your home quickly. Below are some key factors that can help to speed up the sale process when you are moving home in York.
Although many are aware that selling your home over the price it is actually worth can be problematic, people will still often choose to go with the Estate Agents recommendation. They typically will suggest the highest potential sale price.
Through websites such as Zoopla and Rightmove becoming a dominant force in the property market, it has never been easier for buyers to find newly listed properties as favourable prices. As such, if you have no initial interest, then it is very likely your home has been overvalued.
In regards to your property viewings, you need to take a look around your own house as if you were viewing it for the first time yourself. It needs to have good “kerbside appeal”. This means that the first initial impression a viewer has, needs to be the best one.
As the old saying goes, “You never get a second chance to make a first impression”.
Think about the little things such as a freshly jet-washed drive and neatly cut front garden. They won’t necessarily be the selling points of the property, but they will show a buyer that you have looked after this home.
It also is a good indicator that the inside will likely look just as nice as the outside does. If you’re going to be washing the drive and cut the garden, make sure to also have a good tidy. Remove anything left in the front of the property, such as bikes or toys.
Additionally, you’ll want to make sure your front door looks appealing and the doorbell works. In fact, treat yourself, buy a new doormat! After all, you really do want to make that first impression the best it can be, and this will be the first door they walk through.
Once you have tidied up the outside and put away anything that didn’t need to be out, you then need to inspect the inside of your house room by room, paying special attention to your kitchen and bathrooms.
Here are some important things to think about:
The ultimate goal is for your buyer to feel welcome and at home in your home. So, to make them comfortable, try and avoid having pets or young children getting in their way as they are taking a look around.
Whilst that may benefit you with some property viewers, it may actually be worth keeping various items around if it’s a family home you’re selling. Things like family pictures can help them to create an image of potentially bringing up their family there.
Although you want them to feel at home, you need to keep a fine balance. Your bathroom should be spotless. Put away any items or cosmetics that aren’t in daily use, co-ordinate your towels and flannels to ensure nothing is mismatched and don’t leave items of clothing scattered around on the floor.
You’ll also want to make sure that the house is well-lit. Surprisingly, this is something people forget. If you have darker rooms, make sure to have the lights on in these rooms. Additionally make sure all the lightbulbs are working, as this can send the wrong message if not.
Having curtains and blinds open makes your home feel nice and warm, as well as cutting back any large interior plants that could potentially block out any natural sunlight to the room.
One absolute necessity is to ensure your home is immaculately clean. Wash your curtains, blinds, wipe down your walls and clean all your floors and windows. All repairs should definitely be up to date too and clean bedding on the beds. Windows should be sparkling clean both inside and out.
New carpets in smaller rooms can be a less expensive way of creating the impression that your house is welcoming and has been properly looked after. Plain painted walls create the idea of a “blank canvas” that the buyer can see their future in.
Despite any old wives tales that makes claims about the smell of baking bread, this is very much an old-fashioned perspective. It’s best to ensure there are no cooking smells lingering whatsoever, instead making everything smells fresh and clean.
Home buyers are also attracted by the idea of “space”. Therefore, if you have anything that you are storing outside of cupboards, pack it away, including anything on your kitchen tops. This will no doubt make rooms look bigger than they already are, a promising aspect to a buyer.
Next it’s time to look at your garden. You will definitely want to give that a good tidy up and remove all rubbish. The person viewing your home may want to look inside your shed or garage so don’t just throw everything in there. Instead give them a good tidy to make them look spacious.
As we suggested with the front of the house, cutting the grass can create a good impression, as well as trimming your overgrown bushes. Also, if you’ve got time, doing a bit of weeding along the paths and walkways can also go a long way.
Another area of the outside to think about is any fencing you have. If there are holes, for whatever reason, this can give a bad impression. So, make sure to get these fixed. It can also be a good idea to give them a fresh coat of paint.
People buy homes from people, so it can be better if you do the viewings in person, yourself. You will no doubt feel very passionate about your home, meaning you will be able to show it off in its best light.
You’ll also be able to be transparent and honest and pointing out any small issues that you have encountered over the years. This helps present a balanced view to the buyer.
If you are showing the buyer around yourself, be conscious not to overcrowd them, let them walk around on their own when appropriate. This is so that they can talk between themselves if there are two of them, reducing any pressure.
Finally, remember the emotions attached to buying a home. They may already have owned a home before so could be moving home in York themselves.
If you have a family it helps to accentuate it has been a happy home for you, as this is sure to rub off on the viewers if they are perhaps upsizing and thinking of raising a family themselves.
Our mortgage advisors in York hope these tips help you sell your home quickly.
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Authorised and Regulated by the Financial Conduct Authority.
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Yorkmoneyman.com & Yorkmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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