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July 2016 Property Market Update

July 1st 2016
By: Natasha
July 2016 Property Market Update

" Despite the distractions of the last few months including stamp duty reform – which led some landlords to strengthen or review their position within the market  – and, more recently, the nation being engrossed in the European championship in France, the local residential sales and lettings market has remained strong with many customers appearing positive about both the short and long term outlook while accepting that there may be some market readjustment over the next couple of years.

For those looking to make a move the good news is that mortgage lenders seem keen to lend money and are offering some fantastic incentives and exciting mortgage rates, for instance a prominent lender has launched their "No deposit Mortgage" which hasn't been available since the boom of 2007 and another lender has also raised the maximum age at which home loan repayments can be completed from 75 to 80 years of age. With no sign of the Bank of England increasing the base rate, and with the government continuing to offer help to first time buyers, through a number of schemes such as Help to Buy and the soon to be launched Lifetime ISA, the market presents some great opportunities for those seeking them. So, for those within the market – and those who’d like to enter it – the next few months will no doubt be of great interest and, hopefully, lead to more satisfied homeowners and landlords to come." commented Richard Durrant Managing Director of Intercounty

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