Facebook Twitter LinkedIn

Why choose us?

We provide our customers with a high quality service, with the majority of our business being referred from satisfied customers.

Mortgage Activity Rises to Pre-Brexit Level

 Recently published figures indicate that stability is returning to the mortgage market despite the ambiguity that surrounded the recent Brexit vote. Some financial experts are also keen to stress that the housing market continues to fare better than many expected. 

Mortgage lenders are seeing a surge in the number of mortgage applicants, reaching levels seen before the UK voted to leave the European Union. Since the Bank of England lowered the base rate to 0.25% in August there has been an increase in the number of re-applicants and new applicants, signalling a progressive rise in consumer confidence.

House purchase approvals have also increased, signalling that the 20-month slump in growth is now on the rise with nearly 63,000 approvals authorised within the period. Gross lending for the whole of 2016 is also estimated to be upwards of £245bn, which indicates a 10-12% rise when compared to 2015.

With the base rate at an all time low, experts consider that the cut should provide a boost to the finances of mortgage applicants due to the availability of cheaper and more competitive mortgage options. The news also signals a positive move for those who are concerned about the rising cost of living, with first-time buyers and movers now spending, on average, under 18% of their monthly household income on interest and capital repayments’.

Whilst the government has been keen to help first-time buyers with incentives, there has been a steady decline in the second-stepper market. Brexit, and the economic uncertainty that followed, seemed to have subdued this area of the market. However, although some experts stress that the number of people choosing to re-mortgage has remained broadly unchanged since August and has done little to encourage people to switch, the forecast, provided by the Council of Mortgage Lenders, indicates that ‘the mix of lending has moved towards re-mortgage activity’, accounting for over 40% of all lending’. They also indicate that this trend is likely to ‘continue in the future’. 

An overall increase in mortgage lending ultimately signals a return in confidence and has the potential to stimulate a number of knock-on effects. For example, a rise in consumer confidence could trigger an increase in vendors bringing properties to market, increasing availability. 

Complementing this positive news within the mortgage market, the UK Government has continued its campaign to promote incentives to prompt further beneficial activity within the housing market, offering various buying schemes, pledging investment capital, and relaxing regulations. These are all expected to help provide stability to the market in the future. 

The final quarter of the year is also recognised as a good time for consumer investment as banks and mortgage providers seek to meet their lending targets. Couple this with the recent findings and it’s fair to say that now would be a good time for some people to re-evaluate their current mortgage arrangements.
Liverpool today is a very well developed city with fantastic tourist attractions, world-class universities and endless job opportunities. This all helps the Merseyside housing market along and this make Merseyside the perfect place to invest in. As more and more people move...
The number of properties on the market is rising! Despite the general election the numbers of residential properties on the market has increased, as it is only a couple days after the outcome of the election was announced we have not been able to make an accurate prediction...
According to a recent survey commissioned by Gocompare.com they have identified the top 20 features that people look for when buying a new house. What people are looking for: Central heating  Double glazing  Garden  Secure doors & windows  Drive Way or dedicated...
What would the Liberal Democrats coming to power mean for for homesThe Liberal Democrats have recently set a new target to build 300,00 new homes every year, along with this they have also demanded that all new homes are to be marketed in the UK before they are sold to...
Breaking NewsThe conservative party have made new pledges to reform the buying process for the better! In the party's manifesto they have stated in low detail: "A Conservative government will reform and modernise the home-buying process so it is more efficient and less...
It is now a legal requirement to provide an Energy Performance Certificate for all rental properties. Each property needs a valid EPC which must be made available to prospective tenants upon viewing the property.Currently, building emissions in the UK account for...
You now have the choice of how you sell your home!You can either sell your home through our branch and have our dedicated sales team guide you effortlessly through the sale of your home, or you can sell your home online for a up-front fee of  just £850 +VAT.Selling through...
Property prices are rising according to recently published data, the average property prises have risen and now stand at £297,832.The property prices within merseyside are up there with some of the countries fastest increasing and have now reached new heights. With the...
Selling your property can be a bit of a long process at the best of times but it can definitely drag on if you’re not generating enough interest. For those of you with your home already on the market or considering selling, we discuss a few steps you can take to get more...
 Recently published figures indicate that stability is returning to the mortgage market despite the ambiguity that surrounded the recent Brexit vote. Some financial experts are also keen to stress that the housing market continues to fare better than many expected. Mortgage...
Number of potential house buyers at highest level for six yearsThe number of people looking to move home is at its highest level for six years according to Loc8 Estate Agents.New figures show the number of prospective buyers registering their interest during the final 6...
Loc8 Estate Agents are reporting improvements in the Housing Market are here and levels of activity and prices are on the way up. House prices were 5.5% higher in March 2014 than March 2013, across the country Nationwide reported that prices were 9.5% higher putting them at...
Loc8 Expansion Plans Mr Scott also confirmed Loc8 Estate Agents will be moving to new premises in Central Square in Maghull in mid 2014. We recognise that it is vital for our clients to be able to access our properties for sale or to rent as easily as possible and by moving...
Testimonial
The guys at Loc8 guided us through our sale with no faults at all, we will definitely recommend."    Mr & Mrs Archer, Merseyside


Ombudsman Estate Agents Office of Fair Trading
© Copyright 2017 Loc8 Estate Agents. All rights reserved. Terms and Conditions  |  Privacy Policy