Gazette Articals
To buy or not to buy
To buy or not to buy? If that is the question then what is the answer?
Estate Agents are reporting increased levels of activity in the housing market and a slight increase in sales.
Lenders are beginning to relax the lending criteria and are making more funds available to buyers. The change is slight but it is there so, perhaps now is the time to consider buying
The market is certainly a buyers market, and, as such, it is in your favour if you are considering a purchase. There are ways however that you can improve your chances of getting that property at the price you want. So let us look at some ways by which you can improve your chances.
Obviously the first one is the deposit. The more you can put down the easier it will be to borrow additional funds, particularly as lenders are still very twitchy.
It may be prudent first to obtain an agreement in principle with the lender as this will enable you to know the extent of the funds available to you before you make an offer.
Once you are ready to make an offer do not divulge to anyone the funds you have available. All the seller and his agent needs to know is that you have the funds available and you are ready to proceed. If it is known that you are in a position to pay more, then you may be encouraged to do so.
Plan as far in advance as possible. Lenders are taking longer to process applications now than before the ‘Credit Crunch’
Remember that it is all a game. Probably the biggest one you will ever play. Remember for the time being, you are holding the ball.