THE PROPERTY MARKET

The property market generally does not look to be rising or falling to any great degree. It has largely been Landlords buying and selling buy-to-let properties that have kept some life in the market. In the first quarter of 2012 there was an increase in mortgages completing due to the March deadline for the Stamp Duty reduction for First Time Buyers. The Government and builders are seeking to continue to encourage First Time Buyers with a number of options for buying new-build properties. There are also still some part-buy/part-let solutions. However, the real problem with the property market is that segment who are locked into their present mortgage arrangements due to the changes in the mortgage market over the past several years. We have seen various options virtually disappear, including 95% and 100% mortgage, self-certification mortgages for the self-employed, and mortgage options for those with past credit problems. However, the mortgage market is starting to become a bit more flexible and it is worth staying in touch in case options open up.