Bamford & Norden Dec/Jan 2022

LATEST PROPERTY UPDATE
PROPERTY UPDATE
It was perhaps a surprise, but definitely a relief
to many, that The Bank of England has recently
held off increasing interest rates again.
Whilst The Bank of England has signalled it may raise interest rates
in the “coming months” in response to high inflation, it held off on an
immediate increase from the current record low rate of 0.1%.
POWER BUYERS
During the current climate, sellers are now considering a buyer’s position
to be one of the most important aspects when accepting offers on their
properties. The highest offer is not always the best offer in what is very
much a seller’s market, ‘power buyers’ are being viewed favourably by
vendors.
oe ues ae those ho ae eithe hainee o ash bues st
time buyers also have an advantage, given they also have nothing to sell,
however, they must have a mortgage agreed in principle to be seriously
considered, as should anyone looking to move in the current market.
If you don’t have everything in place, you run the serious risk of your offer
not being considered, or another offer being agreed with another party.
It may even preclude you from viewing a property with some vendors.
Don’t shoot the messenger when we follow our clients’ instructions.
With the lowest available property stock on record, sellers can afford
to be choosy, and your buying position could prove key when trying to
make your offer stand out, whilst trying to secure a property. Sellers are
spoilt o hoie no ith the aeae time to nd a bue uentl
being 37 days, down from 65 days at the start of the year.
ou ae ellpepaed an moe uil and hae ou nanes in
order, your power buyer status will stand you in good stead.
98 To advertise call 07976 289967 or 07974 434793 or email sales@streetwisemag.co.uk