2018 shows why now is the time for prospective buyers to act
- 20th December 2018
- Buying Property News
Our most popular buying story about average mortgage rates being at their lowest in a decade shows buyers are actively looking for opportunities to enter the market
Here at ludlowthompson we are delighted to look back on the past year in which we saw more home buyers taking their first steps on the property ladder.
2018 has brought a lot of positive news for buyers to take into the New Year. Indeed, a news piece in last month’s newsletter – showing the average mortgage rate for a 5% deposit fell to a 10-year low – was the most read story for buyers in all of 2018!
With falling mortgage rates and the resilience of the London property market in the face of Brexit, there has never been a better time to buy.
First time buyers in particular saw completion rates grow this year – with news that almost three quarters of mortgage applications made through intermediaries resulting in a purchase, up from just over half the same the year before.
Stephen Ludlow, Chairman of ludlowthompson, says: “As one of the peak seasons for the property market, the holiday periods and January can be a good time for potential and prospective buyers to see what is on the market now.”
“With rates on fixed mortgages at a ten-year low and the plethora of options on the market, people should take advantage of the current opportunity.”
“London remains an ideal place to live and work for many young professionals and new families. Buying a property in the capital will always represent a good investment opportunity, no matter at what stage of life you are at.”
The average London house price increased over 768% in the last twenty-five years to £478,500 in 2018, up from £55,100 in 1993.
Here is a section of recent reviews of happy customers of ludlowthompson via GoogleReviews:
- Hez Holland “on Google Reviews”
“Brilliant service from the first phone call to the last on the purchase of my flat. Pro-active and friendly, Aamir Sharif was always ready to help and respond to enquiries.”
- Max Adams “on Google Reviews”
“Really easy to work with and efficient. Many thanks to Daniel, Reiss, and Jake who helped us find a great place and get us moved in after just a few weeks”
ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms. Over a three-year period we were ranked as the number 1 agent in the UK on allAgents.co.uk out of 15,000+ agents, with 5200+ 5* reviews, and we are also linked with Feefo - independent review company and global Google Partner - giving the customer another place to search for independent reviews of ludlowthompson and the individuals that work here.
With rates on fixed mortgages at a ten-year low and the plethora of options on the market, people should take advantage of the current opportunity
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