Estate agent urges house hunters to stay upbeat

A Corby estate agent is urging house hunters not to be despondent after mortgage rates hit 6% last month and continue to creep upwards in Britain.

The government previously estimated that more than half of fixed-rate mortgages ending in 2023 had an interest rate below 2% which means anyone remortgaging this year will see an unavoidable rise in outgoings.

But property experts at Belvoir, in George Street, have said the housing market is still buoyant despite the rates hike and cost of living crisis and there are still worthwhile opportunities available for those looking to buy property.

For those struggling to get on the housing ladder, first-time buyers aged 21 or over who have paid 12 consecutive months of rent within the last 18 months, could even qualify for a 100% mortgage depending on their financial circumstances.

Belvoir Corby managing director Bobby Singh Braich said: “There are many benefits to buying your own home in the current market. If you own the property, you don’t need to worry about your landlord upping your rent unexpectedly and buying a property means you’re paying off your own mortgage rather than somebody else’s.

“While it is understandably a tricky time for family finances, it is hard to know what will happen going forward with house prices and rates. If you wait, you might miss your chance to get on the ladder or to secure a mortgage. Working with a mortgage broker can help you secure a competitive rate and could even save you money across the full term of the mortgage.”

Belvoir work with mortgage broker LionHart to provide a resident mortgage solutions specialist in their George Street base, Savannah Banks-Gould.

Savannah offers face-to-face, telephone or video call appointments to all Belvoir customers and uses her knowledge to navigate home buyers through all parts of the mortgage process.


Wilson Browne