Property Monthly July 2015

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Now Viewing HARVE DES PAS SOLE AGENT ST HELIER For more info visit www.thompsonestates.com Email us at sales@thompsonestates.com SOLE AGENT ST HELIER Telephone us on SOLE AGENT 01534 88 88 55 ST SAVIOUR NEW UP TO £250,000 £159,000 SHARE TRANSFER £164,000 SHARE TRANSFER Top floor one bedroom apartment Located close to all amenities Situated just moments from the beach Ideal first home or investment opportunity RES295 1 Bedroom, second floor apartment Period property with high ceilings Ideal first home or investment opportunity Town location, close to amenities RES129 £170,000 SHARE TRANSFER Top floor 1 bedroom apartment Purpose built well maintained building Popular convenient location Fantastic investment showing 6% return RES020 £215,000 FLYING FREEHOLD Spacious 1 bedroom purpose built apartment Open plan living Situated close to amenities Great first time buy or investment RES130 ST HELIER ST HELIER ST HELIER ST HELIER SOLE AGENT SOLE AGENT £225,000 FLYING FREEHOLD £239,000 SHARE TRANSFER 1 Bedroom purpose built penthouse 2 Bed, 3rd floor purpose built apartment £249,000 SHARE TRANSFER £249,995 SHARE TRANSFER Spacious top floor apartment Modern 2 bed town apartment Communal gardens Garage parking Walk to work or the beach RES144 Bright and spacious accommodation Ideal town location Great investment or first home RES478 2 Bedrooms Secure designated parking West facing balcony with views over town Close to the beach and town centre Parking for 1 car Walk-in condition throughout RES031 RES062 ST HELIER ST CLEMENT ST HELIER ST SAVIOUR NEW SOLE AGENT SOLE AGENT UP TO £450,000 £250,000 FREEHOLD £259,000 SHARE TRANSFER Two bedroom cottage Immaculate condition Walk to work Great first time buy or investment RES433 Lovely 1 bedroom apartment with sea views Fantastic location moments from the beach Great step on the property ladder Parking for 1 car plus visitor parking RES455 £269,000 FLYING FREEHOLD Immaculate 2 bedroom apartment Contemporary first time buyer development Ideally located on the outskirts of town Undercover allocated parking for 1 car plus visitor parking RES306 £279,000 SHARE TRANSFER Delightful 2 bed period apartment Character features throughout Walking distance of the town centre Designated parking for 1 car RES243 ST BRELADE ST HELIER ST HELIER BEAUMONT NEW MOTIVATEDVENDOR SOLE AGENT £299,000 SHARE TRANSFER Sought after and select development in St Brelade Larger than your average 1 bedroom apartment Sunny terrace with views overlooking fields 1 Allocated parking space plus ample visitor spaces RES386 £299,000 SHARE TRANSFER Top floor 2 bedroom apartment Open plan kitchen living room Views over Springfield football pitch Parking for 1 car RES380 £312,000 FREEHOLD Delightful 2 bedroom cottage Convenient location close to town Private enclosed south facing garden Designated parking for 1 car RES107 £315,000 SHARE TRANSFER Beautiful 2 bedroom garden apartment Across from the beach and on an excellent bus route Recently refurbished Designated parking for 1 car plus visitor parking RES070 Property done properly Property Monthly www.thompsonestates.com 4 sales@thompsonestates.com 01534 888855
For more info visit www.thompsonestates.com Email us at sales@thompsonestates.com Telephone us on 01534 88 88 55 Market Update by Kerrie Carlyon, Director and Senior Mortgage Adviser - July 2015 At the beginning of June, the Bank of England’s Monetary Policy Committee voted unanimously to hold base rate at 0.50% for the 75th consecutive month. Combining this news with the post General Election euphoria now means that the predicted first rise in base rate has been pushed back to August or September 2016. A COMPELLING ARGUMENT With such low interest rates available, there is a compelling argument for borrowers to opt for a tracker rate which will inevitably go up at some time in the future, although by that stage, wages and salaries will probably have increased so making the extra monthly cost still affordable. 90% OF BORROWERS TAKE A FIXED RATE Industry figures however, show that more than 90% of those buying and re-mortgaging are taking a fixed rate as in many cases these are not much higher than the trackers especially if one has a 40% deposit. Lenders have cut their margins in recent months as competition has intensified in the UK, although it is unlikely that rates will fall much further. In fact ‘’swap rates’’ on the money markets, which form the basis of the pricing for fixed rates, have been rising for the past three months, which will inevitably result in these increases seeping into the pricing of mortgage deals in the coming weeks. GREATER CONFIDENCE With greater confidence in the local economy being witnessed in most sectors in the island, the property market has enjoyed an increase in activity since the middle of 2014, although this has not resulted in prices rising . Plenty of new flats and houses are appearing on the market alongside many that owners have been trying to sell for the past five years if not longer, which suggests that they are either over priced or the market just isn’t ready for them yet. 25 YEARS AGO When The Mortgage Shop opened its doors 25 years ago, we had eighteen different lenders offering a wide range of mortgage products and with the opportunity for borrowers to claim tax relief on the first £300,000 of borrowing. Lenders would factor into their affordability calculations this tax relief and as a consequence borrowers were able to access the mortgage that they needed far more easily than is now possible. Twenty five years on, the number of active lenders has reduced and, following the introduction in April 2014 of new regulations called the Mortgage Market Review, the amount that lenders can offer has been seriously restricted. WHAT USED TO BE At one stage mortgages with 40 year terms were available if the borrowers were young enough, 35 year terms were on offer from several different lenders and, if you were a mature borrower, with income after retirement, or with other assets to dispose of, you could access an interest only mortgage. BEHIND THE SCENES IMPACT The impact of the new regulations has been noticeable behind the scenes, although from a borrowers point of view has been less. The lending market is constantly changing which is the reason why many borrowers, especially First Time Buyers prefer to consult a mortgage broker. Lenders review their products regularly, and it has not been uncommon for The Mortgage Shop to be notified of new rate options and underwriting changes on a weekly, sometimes daily basis. SUMMARY In summary, fixed interest rates would seem to have bottomed and therefore the only way they can now go is up, whilst base rate is likely to remain as it is for some time to come. The widening gap between the two options will therefore make a tracker rate even more attractive. With predictions that base rate will not have exceeded 1.5% in three years time, a variable rate mortgage might have just become that much more realistic than before. If you would like to find out more about the content of this article or should you have any queries, please contact kerrie@mortgageshop.je NEVER LEAVE ANYTHING TO CHANCE TRUST THE MORTGAGE SHOP Contact one of our mortgage advisers and be one step closer to your dream home. More Choice. One Appointment. Why not pop in for a chat or call us on 789830. mortgageshop.je 31 Broad Street, St. Helier JE2 3RR T: 789830 E: info@mortgageshop.je Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it. Henley Offshore Financial Services Ltd, trading as The Mortgage Shop & Henley Financial, is regulated in the conduct of investment business by the Jersey Financial Services Commission. Looking for Independent Financial and Pension Advice? Property Monthly www.thompsonestates.com sales@thompsonestates.com 01534 888855 Property done properly 5 www.henleyfinancial.je Part of The Mortgage Shop Group
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Property Monthly July 2015

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