Author: Daniel Brownhill

interest cut

Interest rates have been cut to 0.25% in a bid to shore up the economy amid the ongoing coronavirus outbreak. This is the first time since the financial crisis that the Bank of England has announced an emergency move.

Low interest rates may well help cushion the housing market in the months ahead. Over 70% of homes are purchased with a mortgage.

According to data from the Bank of England, activity in the mortgage market is currently at a four-year high and mortgage rates are increasingly competitive on the high street.

In 2008, interest rates were cut for six consecutive months, falling from 5% in September 2008 to 0.5% in March 2009. Low interest rates helped the property market rebound throughout 2009.

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help to buy tax relief

Nearly half a million (464,700) first-time buyers have benefitted from over £1.1 billion of tax duty relief since the First Time Buyers’ Relief was introduced in November 2017, each saving on average £2,387.

Zero tax is charged to first-time buyers on purchases between £125,000 and £300,000, which account for 77% of benefitting purchases. The standard 5% SDLT (stamp duty land tax) is charged between £300,000 and £500,000. All sales under £125,000 are exempt from taxation.

62,800 first-time buyers benefitted from the scheme in the final quarter of 2019, the highest quarterly number since its inception, as first-time buyer numbers hit record levels in 2019.

Across Wales all purchasers purchasing a property with a value of less than £180,000 are eligible for Land Transaction Tax Relief. This will undoubtedly include the vast majority of first-time buyers, as the average price of a first-time buyer property across the country is £149,000.

The government have recently announced plans for a First Home Scheme, whereby local buyers would benefit from a 30% market price reduction on the price of their first home.

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Run like a yogi – yoga course

Welcome to my next Yoga Course. I am calling it ‘Run like a Yogi’. By that I mean finding the ease in the way we run. It takes strength and stability work but also work with the breath and which you don’t often get with other strength-based training. You will receive all my yoga wisdom on how to run effectively. I run on road, trail and fell and am aiming to run London Marathon in under 3 hours. I provide mats and all equipment. Any questions email yogapaul@icloud.comWed, March 4, 2020 7:30 PM – 8:45 PM. St martins church hall, st martins church, brabyns brow,Marple. SK6 7DA

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Make It Marple – March Market

We are back with the best of local crafters and artisans showcasing their amazing makes in a new location and on a SATURDAY 21 March 2020 from 10:00-16:00, Market Street, Marple.

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Buyer Demand Soars

Recent data released by Zoopla has shown that 2020 has started in supreme fashion for the property market; with buyer demand up 26% when compared to the same period in 2018 and 2019. With such an influx of buyers, those thinking of selling their property have timed it well.  

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rents rise in the uk!

2019 was a year of recovering rental values following the drop observed in 2018. The DPS (Deposit Protection Service) reports a 1.4% increase in rents in 2019 (Q42018 to Q42019).

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fall in love with the right home

Buying a home is like falling in love, you can expect to go through the same ups and downs, emotional tugs and pulls, and even similar stages.

The one that got away, don’t panic, there are plenty more fish in the sea! An estimated 1.2 million residential properties were sold in 2019 (HMRC).

Broken heart? Don’t worry it’s not just you! One in four (24.42%) of house sales in England and Wales fell through before completion in 2019 (Independent Home Buyer Quick Move Now).

Hopelessly devoted to that home? Don’t be a fool in love, never settle for what doesn’t feel right! 34% of people said moving to a new house is more nerve-wracking than getting divorced (Real Homes)!

Make sure you fall in love with the right home! According to the English Housing Survey an owner occupier spends on average 18.1 years in their home, so pick well as you are in it for the long haul!

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Property Prices Rise at Fastest Rate on Record

Rightmove has reported property price increases from December 19 to January 20 of 2.3%; representing the largest-ever increase in prices over a 4-week period since it began its asking price index almost two decades ago. With the property market starting the year in such good health, 2020 is poised to be a strong year all round for housing.

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Stunning new developments in central Marple.

We are delighted to announce this brilliant new development, Albert Place, Maple. 20 impressive two bedroom, two bathrooms apartments, with four garden apartments. Call the team on 0161 427 0755 or pop in to the office for a chat.

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