Spring Newsletter March 2016

PROPERTY INDUSTRY EYE UPDATE –
Rush as buy-to-let borrowers try to close mortgage deals
MARCH 9, 2016 | ROSALIND RENSHAW
There has been a rush of activity in the buy-to-let mortgage sector.
Connells Survey & Valuation reports that last month it carried out 34% more buy-to-let valuations than in February last year, and 25% more
than in January.
Remortgaging volumes, including buy-to-let remortgaging, also jumped, up 41% on the year, and up 6% on a monthly basis.
The imposition of a 3% Stamp Duty surcharge on purchasers of second homes, including buy-to-let properties, is now little more than three
weeks away.
John Bagshaw, corporate services director of Connells Survey & Valuation, said: “Buy-to-let investors and those remortgaging with the aim
of buying a second home are racing against the clock.
“Expect this activity to reach a crescendo in March before calming in the second quarter of the year.
“Buy-to-let investors will be calculating the impact the Stamp Duty hike is having on their rental yields, while those thinking of remortgaging
to fund a second home will weigh up whether it’s still financially viable for them to do so.”
Connells also report increased valuation activity for both home mover and first-time buyer sectors – up 35% and 36% respectively on a
monthly basis, and 8% and 9% annually.
STAMP DUTY RATES:
Band Normal Rate Additional Property
Less than £125K 0% 3%
£125k to £250k 2% 5%
£250k to £925k 5% 8%
£925k to £1.5m 10% 13%
Over £1.5m 12% 15%
Finally......
Sharon is off on another Charity Cycle Ride - this time to Cambodia & Vietnam for Women-v-Cancer, raising funds
for Ovarian Cancer Action, Jo’s Cervical Cancer Trust and Breast Cancer Care. For those that remember Sharon has
just returned from cycling across Africa for the same charity and her group raised over £250,000 for the charity.
This time she will be cycling more than 450km across Cambodia, if you would like to sponsor Sharon in her efforts
please visit her Just giving page at www.justgiving.com/sharon-waite5 - many thanks, every penny appreciated
Testimonials:
Was in such a hurry this morning while I had a connection forgot to say
"Thank you", we are very content and comfortable, its such a lovely
home, we have not felt this settled and content in 2 years since leaving
no 26 Downsway, So thank you again for all your assistance,
professionalism, positivity and attention through the whole process it
has been a pleasure dealing with you. - Ms S, Oxted (tenant)
Just wanted to let you know that I just spoke to Mr H, our Landlord at
the above and he would like to pass on his congratulations to both you
and me for our work at the above – he has been very impressed with our
communication, response and overall level of customer service – well
done to both of us – Mr H (landlord)
If you have any recommendations or comments please contact us
as below:
Jackson-Stops & Staff
17-19 Station Road West
Oxted
Surrey
RH8 9EE
Tel: 01883 770500
E: Sharon.waite@jackson-stops.co.uk
@jssoxted
JSS Oxted
www.jackson-stops.co.uk