introduction to belgravia
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Belgravia Wealth Management is an introducer to GSR Finance which is an appointed representative of Home of Choice ltd which is authorised and
regulated by the Financial Services Authority. Redwither Business Centre, Redwither Business Park, Wrexham, LL13 9XR
Your home may be repossessed if you do not keep up repayments on your mortgage
0800 854884
Specialist new homes mortgage advisers supporting...
New build mortgage advisers Open 7 days : Free phone Immediate advice, AIP, feedback
Lap top provided to facilitate communication : Email, sales tools, marketing
Email updates Weekly summary reports - enquiries Weekly summary reports - applications
Monthly market reports “In Focus” Sales meeting presentations
Digital (turn page) brochure Unlimited supply 24/7
Complementary home buyers tool kit www.macmedias.com Available 24/7
The smart way to buy your new home
Free mortgage advice line
0800 854884
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Try our free home buy internet tools www.macmedias.com
Belgravia Wealth Management is an introducer to GSR Finance which is an appointed representative of Home of Choice ltd which is authorised and
regulated by the Financial Services Authority. Redwither Business Centre, Redwither Business Park, Wrexham, LL13 9XR
Your home may be repossessed if you do not keep up repayments on your mortgage
0800 854884
Call me
• Free phone 0800 854884 • Email Gillian.ray@belgraviawm.com • Free advice line 7 days a week • Check out immediately ... − monthly costs − maximum mortgage
• Shared equity specialists • Help from enquiry to completion
Specialist new homes
mortgage advisers
Belgravia Wealth Management is an introducer to GSR Finance which is an appointed representative of Home of Choice ltd which is authorised and
regulated by the Financial Services Authority. Redwither Business Centre, Redwither Business Park, Wrexham, LL13 9XR
Your home may be repossessed if you do not keep up repayments on your mortgage
Belgravia mortgage service is delighted to offer you our unique house buyers tool kit. The service is complementary. Simply log on to www.macmedias.com You will have all the tools you need to buy your new home... • Valuation tool courtesy of Hometrack, • Immediate access to sites like Rightmove without having to re-key a search
• Monthly payment and affordability calculators together with a legal fees & stamp duty calculator
There is even free access to some games to keep the kids quiet or just to help you relax and enjoy the nostalgia.
Call Belgravia on 0800 854884
Log onto www.macmedias.com
A shortage of new homes for sale
has ended house price falls, accord-
ing to figures published today, adding
weight to claims that the market has
begun to stabilise. Hometrack, the
housing market analyst, said that
the average house price stayed the
same from April to May at £155,600,
the first time in 20 months that its sur-
vey has not shown a month-on-month
decline in prices.
While less positive than the 1.2 %
price rise recorded by Nationwide
over the same period, the latest
figures support the view that the pace
of decline is at least slowing, boosted
mostly by an increase in demand
relative to a lack of supply.
Hometrack said that the number of
buyers registering with estate agents
was up 21% in the three months to
May, while the number of new prop-
erties listed increased by only 2.5%
The average time for a property to
stay on the market fell from 10.4 to
9.9 weeks from April to May, while
the percentage of postcodes where
there had been a price decrease
over the past month fell from 32 per
cent to 13%. Supply remains
severely restricted in the short term
due to contraction in the construction
industry, this implies that growing
demand will force prices up.
Demand for houses applies brakes on prices
UK to run out of houses in 2009 Just 133,710 new homes
were completed in England
in the year to the end of
March, according to data
released by the government.
That is almost 90,000 less
than the government’s own
target of 220,000. As a
result, housing in England is
heading for a supply crisis
far greater than expected
according to property-
finder.com. In fact,England
will literally run out of
homes this year. There will
be 39,000 fewer homes
than households by the
end of 2009 on current
trends. The picture will not
improve until 2016. What’s
more, the number of new
home starts plummeted to
just 90,000 during the
year as the recession
crushed the housebuild-
ing industry. This sug-
gests that completions in
the coming year are
likely to miss the govern-
ment’s target by well
over 100,000 homes.
JUNE
Market focus
from
Belgravia
House price growth
Time to sell (weeks)
Viewings per sale
Base rate
Mortgage lending
Repossessions
Housebuilding
-10.3%
11
13
0.5%
-65.3%
41%
-8.6%
UK market at a glance
Lending index % Year on Year
Repossessions index % Year on Year
Housebuilding index rolling 12 mnths
Nationwide says house prices
are up as does Right-
move.co.uk, but Halifax, the
Land Registry, Hometrack,
Department of Communities
and Local Government and
Financial Times all report
house price decreases - which
is right?
The truth is, they all measure
different things; Nationwide and
Halifax gleam their information
from their own approvals, the
DCLG’s information is put
together from select Council of
Mortgage Lenders data, Right-
move.co.uk uses asking prices
from its registered estate
agents, the Land Registry uses
property transactions over a 3-
month period and Hometrack
surveys estate agents in Eng-
land and Wales across every
postcode. Then the FT index
takes an average of all of them.
All these are perfectly accept-
able ways of collecting and
measuring housing data. But
they all give wildly differing re-
sults: Rightmove.co.uk says
house prices are up 2.4% at the
moment, but the FT says house
prices are down 1.1%. That’s a
3.5% difference - which, in real
terms is thousands of pounds.
Nationwide and Halifax are
instant reactions to that month’s
mortgage lending (Halifax
measue stats from 1st to 31st
but Nationwide measure 20th to
20th)but are biased to their
brands, while the Land Registry
lags behind with 3-month old
data. Hometrack and Right-
move.co.uk use asking prices,
which as we all know can
change considerably before
the deal is finalised. DCLG
takes snapshots of lenders,
which could create a skew and
the FT is an average of aver-
ages, which could miss detail.
And all of them will tell you
that their method is best.
The big plus point for the mar-
ket once again comes down to
the fact that we are due to run
out of houses in England
before Christmas, so there is
only one way for all indices to
go.
measure of credit risk – in May
dropped below levels on Friday Sep-
tember 12, the last price before the
US investment bank collapsed on the
following Monday. This spread is the
most important gauge of risk in the
money markets because it measures
the difference between risk-free over-
night market rates and three-month
Libor, the key benchmark interest
rate banks charge each other for
Credit risk – measured by key
money market spreads – has for
the first time fallen below levels
last seen before the collapse of
Lehman Brothers banks increas-
ingly lend to each other amid
growing confidence that the
worst of the financial crisis is
over. The gap between London
interbank offered rates and
overnight market rates – a pure
lending. The narrowing of this
spread suggests fears of a finan-
cial meltdown – prevalent after the
US investment bank went bank-
rupt – have sharply receded.
So banks are quietly trading be-
tween themselves again leaving
the door open to more lending in
the UK… we even saw the first
95% product in May… another
gentle move forward.
House Price Indices—which is right?
Money market rates fall to pre-Lehman levels
A final thought; the inflatable boy with inflatable friends at an inflatable school took a pin with him one
day, the inevitable happened. His teacher said, not only have you let yourself down but you have also let
your friends down the school down…..
Page 2
Market focus
Belgravia Wealth Management is an introducer to GSR Finance which is an appointed
representative of Home of Choice Ltd which is authorised and regulated by the Financial
Services Authority
Your home may be repossessed if you do not keep up repayments on your mortgage
Belgravia Wealth Management is an introducer to GSR Finance which is an appointed representative of Home of Choice ltd which is authorised and
regulated by the Financial Services Authority. Redwither Business Centre, Redwither Business Park, Wrexham, LL13 9XR
Your home may be repossessed if you do not keep up repayments on your mortgage
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