An insolvency specialist is warning that the real estate sector of the UK is seeing more firms in financial distress despite the soaring housing market. Begbies Traynor’s latest Red Flag report says: “Despite the booming residential property market, the whole real estate and property sector – a key indicator of… Read More »Red Flag! Insolvency firm warns of growing distress in property sector
The Nationwide Building Society has launched a product which, controversially, allows some first time buyers to borrow 5.5 times their income. From April 26 Nationwide’s Helping Hand product allows first timers the option of borrowing up to 5.5 times their income when taking a five or 10-year fixed rate mortgage… Read More »First time buyers can now borrow 5.5 times their income
Momentum is building for agents to provide more information on property details and portals – not wait until a prospective buyer has expressed interest.Yesterday the National Trading Standards and Letting Agents Team announced a survey for agents on how this can best be achieved. But NTSELAT has now revealed a… Read More »Consumers demand upfront property details on portals
A major agency is reporting a “frenzy” with branches inundated with enquiries as soon as homes are listed. Nicky Stevenson, managing director of Fine & Country, says: “Demand is outstripping supply which is creating a frenzy around properties as soon as they hit the market. It is not uncommon for an… Read More »Stamp Duty deadline creating ‘frenzy’ over property listings
Rightmove has so far this year recorded 20 of its busiest ever days for visits to the site as the current buying frenzy appears to show few signs of abating. It set an all-time new record last Wednesday, April 7, when there were over 9.3 million visits. The day before, Tuesday… Read More »Rightmove flying with record visits as buying frenzy continues
An agent in part of the UK with the strongest seller’s market claims the stock shortage is the worst he’s seen in 30 years – while demand seems endless. Bradley Start, a partner at Start & Co in the Cornish town of Newquay, says he’s getting requests for viewings within… Read More »Stock shortage is worst I’ve seen in 30 years, says agent
A new survey suggests 53 per cent of buyers never actually visit an estate agent’s office during the course of their transaction. Well over another third, 38 per cent, say they visit an office only “once or twice” during the transaction. Only nine per cent say they visit quite often… Read More »Over half of buyers never visit an agent’s office, claims new survey
A leading conveyancing industry chief says the one factor that would help improve the slow house buying process today would be the provision of upfront information. Speaking on BBC Radio 4 Beth Rudolf, director of delivery at the Conveyacing Association, told listeners: “Unless the seller has been really ‘on it’ and… Read More »Sellers must be “on it” and collate info upfront to help a smooth sale
