After the UK experiences soaring temperatures ☀️ we have an extra H O T 🔥 edition of our Spread the Word for you. We have lots to update you on this month. Find out all you need to know now…
TEAM news & updates
Moonlight Walk for Katharine House Hospice
Last month Julian and Pete were joined by their fabulous families and friends to complete the Banbury Moonlight walk to raise funds for Katharine House Hospice. What a brilliant night - smiles, music and laughter the whole way round.
Well done to everyone who took part. Thank you to all who joined us and donated, we’ve raised £450 so far which will make a huge difference to such an incredible local charity.
There is still time to donate https://www.justgiving.com/fundraising/Strattonthorpe
updated TEAM NEWS COMING SOON
We’re excited that our team will soon be expanding - again! We’re responding to growing demands from more and more clients wishing to experience the Stratton Thorpe personalised service. Watch this space…
MORTGAGE NEWS & UPDATES
Housing market ‘defies expectations’ with 13% growth
House prices shot up by 13% on an annual basis in June, says Halifax in its latest house price index.
This is the strongest annual growth rate seen since late 2004.
It translates to a monthly rise of 1.8%, itself the biggest monthly rise since early 2007, and puts the average house price at £294,845, according to Halifax’s calculations.
Providing a regional breakdown, the data shows that Northern Ireland locked the biggest annual increase, at 15.2%, putting the average property price at £187,833, while house prices in Wales rose 14.3% – giving an average house price of £219,281.
In Scotland, house prices rose 9.9%, which means the average house price in the country, at £201,549, pushed past £200,000 for the first time in history.
And within England, the South West saw the highest house price rises in June, at a growth rate of 14.2%. Here, the average house price now sits at £308,128.
SOURCE - MORTGAGE STRATEGY
Flexible appointments to suit your busy lives
Unlike Dolly Parton, we don't work 9-5! We offer flexible appointments to accommodate your busy lives
7 days a week - Monday to Sunday meetings available
AM & PM - Mornings, Daytime & Evenings appointments to fit around your work, childcare, and life commitments
Flexible locations - Face-to-face at a place most convenient to you, for instance your home or workplace
Hassle-free - Escape the town centre hustle and hassle of public transport and parking
Telephone or video calls if you prefer
Here's a recent Google Review from a client
"Me and my partner have just worked with Julian to complete on our purchase. With this being our first home we were both pretty clueless, however Julian has gone above and beyond to explain things to us and guide us through what was quite a stressful process. Communication was fantastic - we both work quite long hours in our jobs so Julian's availability outside of the typical 9-5 was really appreciated. Day or night, weekday or weekend, Julian would answer our emails quickly and was very flexible with appointments at times to suit us." Elizabeth Boucher
Book your flexible initial consultation now – it's free and with no-obligation
Property wealth becoming more Important in retirement planning: Aviva
The role of property wealth has become increasingly important in retirement planning, a new survey from Aviva reveals.
The research, which surveyed 1507 general consumers aged 45+, looked into levels of spending, saving and attitudes towards funding retirement in the over 45s.
The latest data shows that there has been a decrease in property ownership compared to six years ago, either outright or with a mortgage, particularly in the younger age groups in this sample.
Nearly a quarter of 45 to 54-year-olds owned their property outright in 2016, this has fallen to 16% in 2022, while for 55 to 64-year-olds, the respective numbers were 48% and 45%.
Data finds that mortgages are being paid off later compared to what they were six years ago.
Six years ago, 13% of 65- to 74-year-olds owned with a mortgage, compared with 9% in the same age group this year.
Length of tenure in the same property has remained steady since the last survey in 2016, at just under 20 years, compared with 21 in 2016.
SOURCE - MORTGAGE STRATEGY
Earn £50 for every person you refer to stratton Thorpe
We know there is no higher praise than recommending us to your friends and family. Our referral scheme is our way of saying thank you to our loyal clients. Recommend Stratton Thorpe Mortgage Solutions and receive a £50 Amazon voucher as a thank you.
Find out more about how you can qualify and start referring today.
Tenants braced for rent rises over year ahead
The majority of tenants expect rents to rise over the coming year, according to Chestertons, in a survey that comes amid the cost of living crisis.
Around 60% of tenants believe that rents will increase over the next 12 months, says the estate agent’s latest quarterly tenant survey. This compares with 23% of tenants who said rents would rise over the year ahead when the study was first conducted in April 2019.
The report comes after the Bank of England has raised interest rates five times in the row since December to 1.25%, which has raised mortgage and remortgage costs for landlords and homeowners.
The study says that “despite the challenging economic climate” the proportion of tenants who intend to buy a property has risen since April 2019, to 83% from 74%, although only 14% plan to buy within a year and only a further 17% within one to two years.
SOURCE - MORTGAGE STRATEGY
Rise in homeowners planning upgrade property to reduce energy bills: NatWest
Almost two thirds (63%) of UK homeowners plan to upgrade their property over the next 10 years in a bid to reduce energy bills, an increase of 10% from last June, according to new research from NatWest and S&P Global.
The research found that younger homeowners in particular have plans to make upgrades, as they look to bring their properties up to standard in terms of energy efficiency and show a greater willingness to adopt newer technologies.
Among those aged 18 to 34, 13% said they were planning to install a heat pump in the next 12 months, twice the UK average (6%).
Meanwhile, around one-in-five (18%) were intending to install an electric car charging point, compared to only 9% across the UK as a whole.
The data shows that a higher proportion of younger homeowners than older homeowners are planning to make upgrades both in the next 12 months and across the next ten years.
SOURCE - MORTGAGE STRATEGY
Average first-time buyer deposits grow by 76%: Mojo
First-time buyers now need to save an extra £15,000 to purchase their first home, according to new research by Mojo Mortgages.
Data found that the average house buyer is saving a deposit of £33,000 to get onto the property ladder in the UK, increasing from £18,000 in January 2021.
Mojo Mortgages also analysed data from its mortgage partners to reveal that the average deposit size has grown from 16% of the purchase price to 22%, as the housing market continues to become more competitive.
Those living in the South West of England have felt the impact of deposits rising the most, as the average down payment doubles from £20,000 to £45,000.
Residents in cities such as Bath, Bristol and Cheltenham are also paying deposits worth almost 25% of the purchase price, representing the highest in the UK.
SOURCE - MORTGAGE STRATEGY
CLIENT REVIEWS
It is becoming increasingly important for local businesses to have an online presence and customer feedback is vital. This is not just for advertising purposes; clients like yourself trust peer-to-peer reviews and wish to research our company in advance. As consumers, its common place to review restaurants, goods, services, hotels and mortgage brokers are no different! We’d really appreciate your involvement - see here for details and how to leave us a Google Review
free Life Insurance quote in 60 seconds
We have recently launched our brand-new Life Insurance free online quote service. Through our website, you can now get an instant life insurance quote that is quick, simple and free. Our life insurance calculator can help you work out how much cover you may need to protect your loved ones and keep your home safe should the unexpected happen. Simply enter a few details about your lifestyle and living circumstances to find out how much cover is right for you.
· Quick, simple and FREE
· Get an instant quote in less than 60 seconds
· Easy online quote process to provide you with an idea of costs
· Search and compare quotes for products based on an analysis of a number of insurers
· Find out about the free additional benefits available
Don’t miss out on all our latest news and information throughout the month, follow us on Facebook and Instagram.
