Knights Property Finance

29/09/2022

02/11/2021

The UK's pandemic house price boom is forecast to come to an end, but property prices are still expected to rise in each of the next five years.

Some surveys have recorded house prices rising at a rate of more than 10% a year but the government's official, independent, forecasters have said this will drop to 3.5% by 2026.

The Office for Budget Responsibility (OBR) also said that mortgage rates are likely to rise from record lows.

Although the surge in values was expected to slow, prices would be higher over the next five years than the OBR forecast before the Budget in March, it said.

01/11/2021

It was reported by the BBC today that the Reverend Mike Hall was shocked to return home from working away in Wales to his house in Luton, Bedfordshire - only to find that it is been ‘stolen’ and that new occupants had moved in and begun construction work!

It turns out that Rev. Hall’s identity had been stolen and used to sell the house and bank the proceeds, highlighting the importance of an estate agent and conveyancer’s due diligence.

Need pointing in the right direction when it comes to conveyancing and the property sale legal process? Drop us a message and we’ll look after you 👍🏽

28/10/2021

***Will the Budget cause mortgage rates to rise?***

Mortgage rates have been very low by historical standards in recent times - and that is partly why there has been such high demand for homes during the pandemic.

The cost of living is forecast to rise by 4% next year. Normally, you would expect inflation to be controlled by higher interest rates - which often lead to higher mortgage rates.

But at the moment, prices are going up for very specific reasons - such as rising energy bills. And ultimately, it is up to the Bank of England - not the chancellor - to decide whether interest rates need to go up.

The government's independent forecaster, the Office for Budget Responsibility, says if inflation rises by more than 5%, which is possible, then a higher Bank rate and more expensive mortgages - particularly in 2023 - are much more likely.

27/10/2021

⚡️💥🔥 C O M I N G S O O N 🔥💥⚡️

We have one of the most impressive homes that we have ever been out to see coming to the market over the next week or so - keep your eyes on our socials for further details, pictures and video content!

In the meantime, if you have a budget of £1.2m and are looking for a deluxe high specification, fully integrated smart home with views over fields and pastures to the front and rear, all situated on a generous plot in one of Bedfordshire's most desirable villages - get in touch!

26/10/2021

***5 Top Reasons Why It’s A Fantastic Time To Sell Your Property***

1. You’ll be advertising your property in front of record numbers of potential buyers

2. It’s highly likely you’ll get the best price for your property

3. If you’re planning to buy a new home, your budget may be bigger than expected

4. You’ll become a ‘power-buyer’

5. Mortgage interest rates are still at historic lows

We’d be delighted to go through any and all of these top reasons to sell your property with , so feel free to drop us a DM or email us using:

[email protected]

Alternatively, you can call us on:

Bedford: 01234 608555
Biggleswade: 01767 668898
Hitchin: 01462 413713

We can’t wait to hear from you!

*Credit to Rightmove plc for current statistics*

19/10/2021

Home buyers face having to improve the energy efficiency of their new properties under the terms of their mortgage as part of government plans to decarbonise Britain’s housing stock.

Mortgage lenders will have to disclose the energy efficiency of homes they lend money for and set themselves targets to improve the insulation of buildings in their portfolio.

Ministers hope the plan will encourage lenders to fund homeowners to carry out green improvements when they move into a property, with the money spent added to mortgages and repaid through cheaper bills.

However, it will lead to fears that new buyers could find it hard to get a mortgage unless they commit to spending potentially thousands of pounds on home improvements.

Are you confident that you’ve got the best deal on your mortgage? Get in touch with us today to find out!

18/10/2021

It was announced today that, after 23 years of service, the New Zealand city of Christchurch has parted ways with its official wizard, 88-year-old Ian Brackenbury Channell - who earned roughly £8,200 per year performing 'acts of wizardry'!

It got us thinking - what unusual quirks or traditions does where you live keep going? Let us know in the comments below!

15/10/2021

Home buyers have benefitted from lower or no stamp duty, a tax paid on property purchases, in some parts of the UK, for more than a year.

The tax holidays on stamp duty or its equivalent taxes, were introduced by ministers to stimulate the housing market as the country emerged from the first national Covid lockdown last summer.

Since then, the market has been buoyant - immune to the economic shock created by the pandemic. Sales reached record levels, as did house prices. Official data show the average cost of a residential property in the UK rose by 8% in a year. Some areas saw increases of more than 20%.

Stamp duty rates in England and Northern Ireland have now returned to their pre-pandemic levels. Similar taxes in Scotland and Wales are already back to normal.

Yet, debate continues over whether the tax break policy was a success, or unnecessary.

Did you move during the Stamp Duty holiday? Let us know in the comments below!

15/10/2021

***LOCAL SHOUT-OUT***

Amazing lunch at today - if you've not been then you HAVE to go and check them out! Perfect brunch or lunch option if you're spending the day around the Embankment, Castle Quarter or town centre. Find them on Newnham Street in Bedford 🙌