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Are you bonkers busy ATM?

ended 24. July 2024

A lot of brokers, conveyancers and estate agents have told Newspage they're as busy as hell right now. Are you seeing the same increase in activity? What do you think is causing it? Pent-up demand feeding through from the General Election, expectations of a base rate cut, mortgage rates dropping consistently for over a month, general summer sentiment? Tell us how business is for you right now and we'll issue to the media tomorrow AM.

4 responses from the Newspage community

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Editor
Dariusz Karpowicz
Director at Albion Financial Advice
It’s the busiest it’s been in the last two years! The post-election buzz, CPI hitting the BoE target, and the consistent drop in mortgage rates have all contributed to this surge. People aren’t waiting around for property prices to drop – they’re acting now, anticipating that prices will only go up once the base rate is cut. It’s a perfect storm of factors driving the market, and the time to buy is clearly now!
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Editor
Justin Moy
Managing Director at EHF Mortgages
There has definitely been an uptick in activity, driven more by the completion of the general election as much as the positive rate cuts we have recently seen. However the complexity of these cases has also become more apparent, with borrowers now relying upon extra jobs, more overtime and commission to top up salaries to afford those house prices, many are offering before they obtain an agreement in principle too. It's so important to prepare as a borrower, ensuring you have all your documents on hand and ready to share.
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Stephen Perkins
Managing Director at Yellow Brick Mortgages
Enquiry levels are increasing daily, waiting for the base rate reduction to open the dam-gates.
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Kundan Bhaduri
Property Developer and Portfolio Landlord at The Kushman Group
Brokers, conveyancers, landlords and property developers are seeing the best time of the year so far. This is due in large part due to the pent up demand that the general election simply put an ebb to over the last 2-3 months. The news around the consumer prices cooling down and wage growth improving have been the cherry on the cake. Now, with the direction of the economy clearer, and the market on its bouyant way up, and interest rates likely to come down by the end of this year, home buyers and investors are realising that this is perhaps the best opportunity in the market over the last 15 years since the great financial crash.