Brexit & The Effects on The Property Market in Newcastle

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With the Brexit deadline once again being extended, we’re thinking about what the next move is. With everything up in the air and uncertainty becoming the norm, it can be hard to find reliable advice about anything, including mortgages.

The Property Market and Brexit

We have found that many people are sitting on their hands when it comes to property. No-one is quite sure what right path is. As a result, people are potentially missing out on golden opportunities which could have benefitted them in the long-term.

With previous experience of how the market has been influenced by external factors such as national political issues, our Mortgage Advisors are looking towards the future to evaluate the potential outcomes for customers post-Brexit. And in our opinion, there is lots of pent-up demand out there.

Because of this, we are advising clients to research all their options. Especially if their current plan is to “wait and see” because that approach may not work out in their favour.

You Should Be Planning Ahead, Brexit or No Brexit

If you’re planning to move in 2020, then it would be advisable to chat with us sooner rather than later. Now is a great time to reach out to us and to look at getting your home valued because Estate Agents are quiet.

Getting your home prepared to go on the market typically takes a few weeks. This is because time is needed for 2 or 3 valuations, choosing your preferred Estate Agent, signing your agency agreement and getting the photos finalised. This can be a timely process and could, unfortunately, be delayed at any stage.

Furthermore, if everyone else looking to enter the market has the same “wait and see” mindset, it will work against you. By the time your home goes live, so will theirs. This means there are more houses on the market, meaning there are more options for a potential home buyer, therefore driving prices down.

Why

There a few benefits to getting ahead of the market and getting your home valued now.

• You’re prepared. Whatever happens with Brexit, you have all the information there available at your fingertips.
• There’s no obligation. By getting a valuation, you’re not committed to anything. The decision to sell is all yours.
• Improvements can be made. If you know the figures and the feedback regarding home improvements, you can decide what to carry out and you’re in no rush.

So, if you’re thinking of moving home in 2020 or the near future but are concerned about Brexit, contact us to discuss your mortgage options. We offer all customers a free no-obligation consultation.

Mortgage Advisor in Newcastle