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As we start the final countdown to the Christmas holidays, our founder Monica Bradley provides us with her last market overview of 2018 and gives us her opinion on the current property market around Cheam, Banstead, Sutton and the surrounding local area…

“Considering that the news headlines have focused on Brexit for the last few months, understandably this is uppermost on many of our clients’ minds as we look towards next year,” explains Monica. “For those clients who are currently considering moving home, clearly there are concerns about how property values may be affected in the short and medium term. However, we’ve observed that despite the somewhat negative news headlines around the state of the property market generally, transaction levels have remained solid locally all year due to continuing demand, therefore we would suggest values are, to a point, relatively well insulated locally.”

Monica continues, “For those who are considering moving over the next few months, our advice to clients who are purchasing in a softening market is that if they are intending to reside in the property for a significant period of time, for example over five years, then generally speaking it’s a question of battening down the hatches and enjoying their home rather than worrying about what the market is doing, as really property values only become relevant if you’re aiming to sell and move within that timeframe.”

But what can be done to help factor some security into household budgets? Monica advises, “In terms of mitigating any uncertainties as best possible, such as the possibility of interest rate increases, there are some exceptionally competitive fixed rates which are still available, particularly the longer term-five and ten-year products. These can be a useful tool when used as part of an overall long-term financial planning strategy, both for those who are moving home but also those who are seeking to arrange a remortgage. Our team are always happy to chat through the various options over the phone or, if a client prefers, face to face. We’re aware that it may be a worrying time for some people, so we’re here to put minds at rest wherever we can.”

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For insurance business we offer products from a choice of insurers.

You may have to pay an early repayment charge to your existing lender if you remortgage.

There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.

Your home may be repossessed if you do not keep up repayments on your mortgage.

A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £495.