Latest Property News

Details: Published: 01 February 2025; Hits: 421

Taking out a mortgage is likely to be the biggest financial commitment you’ll ever make, and so you'll want to find the best deal you can. The good news is there’s plenty you can do to improve your chances of getting your mortgage application accepted – follow our top 10 tips to help you get the mortgage you want

If you’re thinking about how to get a mortgage, you should be aware of the factors that affect your eligibility. These include: your credit score, length of time in current job, current debts, whether you’re self-employed and of course the size of your deposit.

Follow our top 10 tips below to find out how to get the mortgage you want.

1. Your credit score matters

Before applying for a mortgage, get a copy of your credit report which is held by credit reference agencies such as Experian or Equifax. This will allow you to see what lenders see when they review your application.

If your credit rating isn’t looking that great, there are lots of simple things you can do which can give your score a boost. For example, check you are on the electoral roll and close down credit card accounts which you no longer use.

2. The starting point is your own sums

Sit down and work out your budget before applying for a mortgage. You will need to be sure you can borrow enough to cover the purchase of the property and that you’ll have enough spare to cover all the associated costs and fees.

Monthly mortgage repayments will depend on how much you want to borrow (and over how long) and the interest rate charged.

3. You’ll be better off in the same job

Lisa Brown of Acres Financial Services said; “ Most lenders will want to see that you’ve been with your employer for some time before they’ll give you a mortgage, so if you’re thinking of switching jobs, it’s a good idea to hang on until you’ve got your mortgage in place. Many lenders like to see you have been in your existing job for at least three to six months.”

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4. Debts don’t help

If you’re submitting a mortgage application, the last thing any prospective lender is going to want to see is that you owe a load of cash on credit cards or you’ve got outstanding loans.

Claire Allen of Acres Financial Services said " Before you apply for a mortgage, try to reduce any debts you have – this will help demonstrate that you manage your money responsibly. It will also mean you will potentially be able to borrow more when it comes to a lender’s affordability calculations. "

5. You’ll need proof of income

Mortgage lenders will want to see proof of how much you earn, so you’ll probably need a P60 form which you get every year from your employer and shows a summary of your pay and how much tax has been deducted.

You’re also likely to be asked for three months’ worth of bank statements and payslips so the lender can look at both how much you have coming in as well as your outgoings.

6… or accounts if you’re self-employed

Getting a mortgage when you’re self-employed can be more tricky, especially if you’ve only recently decided to go it alone. Lenders want proof of income and so they’ll usually ask to see SA302 forms relating to the current / recent years from HMRC, or your full trading accounts.

7. The bigger the deposit the better

The more you can save up to put down as a deposit, the bigger the choice of mortgages that will be available to you. Lenders reserve their best rates for those with hefty deposits, so you’ll also benefit from lower monthly payments because you’ll have qualified for a better deal.

8. Buying with someone else can be easier

If you are struggling to building up a decent deposit on your own, you might want to think about buying with someone else. This could boost your chances of securing a decent mortgage, particularly if they’ve got an excellent credit history and a higher income than you. But remember that this is a big commitment, so you’ll need to sit down and work out with the other person what would happen if one of you wanted to move in future.

9. You shouldn’t chop and change your application

Once you’ve started your mortgage application, don’t mess around with it and start changing figures as it could hold up your property purchase.

10. It can pay to get help

If you’re struggling to find the right mortgage deal, or you don’t know what you’d be eligible for or how much you can borrow, it is always a good move to have the help of a mortgage broker. They can research the market for you and help you through the application process so you don’t have to go it alone.

Here at Acres we offer a comprehensive mortgage service giving independent financial advice, with access to the whole of market / high street lenders, often with exclusive deals. For further help please call any of our offices detailed below, or click to the link above.

Your home may be repossessed if you do not keep up repayments on your mortgage

Want to check how much your home is worth? You can get an Instant Valuation here.

If you would like to discuss selling your home, please get in touch with us This email address is being protected from spambots. You need JavaScript enabled to view it. or call any of our busy, helpful teams/offices:

Four Oaks 0121 323 3088

Sutton Coldfield 0121 321 2101

Walmley 0121 313 2888

Great Barr 0121 358 6222

Lettings 0121 312 4997

Thank you for reading this article, and your interest in Acres and our property for sale.

Nigel & Jayne Deekes – Acres Partners

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https://www.moneysupermarket.com/mortgages/first-time-buyers/top-ten-tips/

Details: Published: 31 January 2025; Hits: 470

We are thrilled to announce the expansion of our lettings division with the addition of Annabelle Reynolds joining us to spear head our expansion, marking an exciting chapter in Acres long-standing and highly successful history.

As a trusted name in the estate agency sector, we’ve helped countless clients find their dream homes, and now we’re expanding, and renewing our services to provide top-tier letting and property management solutions.

With our wealth of experience, a dedicated team of property experts, and given our customer-focused approach, we’re committed to delivering exceptional service to both landlords and tenants alike. Whether you’re a first-time landlord or an experienced investor, our lettings division is here to provide you with personalized, professional, and hassle-free solutions.

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Here’s what you can expect:

Expert Advice: Tailored guidance on rental pricing, marketing strategies, and legal compliance.

Comprehensive Management: Full property management services to ensure your investment is well taken care of, or indeed a let only service as needed.

Tenant Matching: A rigorous process to find the right tenants for your property, ensuring peace of mind for landlords.

We’re excited to offer this new service to our valued clients, old or new, and so look forward to continuing to serve you with the same commitment to excellence that has made us one of the most trusted names in estate agency.

For more information or to discuss how we can help with your property lettings, or of course sales needs, don’t hesitate to contact us today 312 4997.

Stay tuned for more updates as we continue to grow and enhance our service offerings.

Want to check how much your home is worth? You can get an Instant Valuation here.

Four Oaks 0121 323 3088

Sutton Coldfield 0121 321 2101

Walmley 0121 313 2888

Great Barr 0121 358 6222

Lettings 0121 312 4997

Thank you for reading this article, and your interest in Acres and our property for sale.

Nigel & Jayne Deekes – Acres Partners

Details: Published: 21 January 2025; Hits: 1076

What is Kerb Appeal, how important is it, and how to make the most of it

We all know how important first impressions can be in life, people, places, smells and the feel of somethings, it a “ gut “ reaction, and this is certainly true when it comes to putting your property on the market.

The initial impression of a property and its surrounding area can have a huge impact on potential buyers.

What is / What does “Kurb appeal” even mean ?

Well in essence its that drive by, first impression; how does the property look. and feel. Having a strong kerb appeal can make your home a much more attractive option for buyers.

Kerb appeal is important as it can be a decisive factor for potential buyers. According to the HomeOwners Alliance, 68% of all buyers say that they are swayed by their initial impression of a property, and that it has a lasting effect on their perception of it.

Even if you aren’t looking to sell your property immediately, giving the exterior of your house a tidy up, or redesign can make it feel more homely and add a more welcoming presence to any visitors, or passers-by. It will also save you a job for when you decide to put your property on the market, as kerb appeal can have a significant impact on potential buyers.

Ways to improve kerb appeal

Revamp the front door The front door of your home is the main focal point as your potential buyer approaches the property, you need it to look appealing. A damaged front door, or one that is in a poor state of repair will likely be an instant red flag for buyers, and could stop a viewing, or at least give an impress, saying “ if it looks poor from outside, what the inside like…….well, not for me, I’m looking for a well kept home”

Giving your front door a fresh coat of paint can help to bring your property to life. With a nice-looking entrance point, perhaps a handing basket, or some pots, winter or summer, buyers are more likely to have a positive first impression and be more inclined to keep that perception throughout the rest of the viewing.

Give driveways and patios some attention

As driveways and patios will likely be part of the first area people see / pass through, it’s important that they are maintained and kept looking good. Paths, driveways and patios can get grubby over time, so they need to be cleaned every once in a while. For larger areas, it’s a good idea to use a pressure washer to clean off any dirt or grubbiness. Being over run with weeds, also not good, again a few minutes work can make a massive difference to the look.

Hide the rubbish bins

Of course, every household needs bins, but it can’t be denied that they aren’t exactly appealing. If you don’t have anywhere to store your bins, it could be worth purchasing a bin shed to store them in. As Acres will, make sure your agent gets them out of the way for the pictures, and the car off the drive, you’d be amazed how many Agents don’t, thus not really assisting the seller with that first impression.

Make pathways tidier

Similarly to driveways and patios, it’s important that pathways around the outside of your house are maintained and kept in a good condition. You easily can give pathways a clean down with a power washer or a scrubbing brush and hot water. You should also make sure that your pathways are free of potholes or bumps, so it’s accessible for people in wheelchairs as well as families with pushchairs.

Improve exterior paintwork

If the exterior of your house is looking worn or damaged, it is highly recommended that you give it a touch up, or new coat of paint. A freshly painted house can improve its aesthetic and therefore its kerb appeal ten-fold. Touching up the exteriors of window frames with a new coat of paint can also add a bit extra to your home and leave it looking pristine from the outside.

Fix broken gutters, gates and fences

Damaged gutters, unhinged gates and broken fences are all likely to give off a negative perception to any potential buyer, so it’s essential that these details are fixed. Taking time to fix these problems yourself can make your home look more presentable whilst also adding additional security for your property.

Clean windows

This is a simple job you can do which will make the exterior of your home look much cleaner. You can either give it a go yourself or hire window cleaner, either way, having fresh shining windows will add more kerb appeal to the exterior of your property.

Keep on top of vegetation and lawns

Overgrowing vegetation can leave your garden looking untidy so giving any bushes, vegetation and grass a cut can leave your outdoor space looking more presentable. Trimming any tall bushes or trees you may have will also allow more light into your garden which is more welcoming to any potential buyers you have that are coming to view the property.

Refresh gravelled areas

Gravelled areas can easily be diminished over time and can be left looking bare or unfinished. Adding in some new gravel to paths or driveways can add a more finished look to your outdoor area. Using a garden rake to even out the gravel and get rid of any bumps or holes can make easy work of the job.

If you have a visible garage door, consider upgrading it to a more aesthetically pleasing one. Alternatively, you can paint the existing door to freshen its look

So, in summary poor kerb appeal can dissuade a potential buyer before they have even stepped foot in the property. Remember, the exterior of the property is the very first thing the buyer will see. In a worst-case scenario, the buyer may not even choose to go inside the property.

You are not going to attract the same pool of potential buyers if your home doesn’t have much appeal. Potential buyers could be immediately put off just when looking through the photos of your home on line if the kerb appeal is poor.

If you would like to discuss selling your home, our proactive approach and ideas please get in touch with us; This email address is being protected from spambots. You need JavaScript enabled to view it. or call any of our busy, helpful teams/offices:

Four Oaks 0121 323 3088

Sutton Coldfield 0121 321 2101

Walmley 0121 313 2888

Great Barr 0121 358 6222

Lettings 0121 312 4997

Thank you for reading our latest article, your interest in Acres, and our property for sale.

Nigel & Jayne Deekes – Acres Partners

Details: Published: 19 January 2025; Hits: 384

January has demonstrated the resilience of the market after modest growth.

This growth was primarily concentrated in the latter half of the year, driven by declining mortgage rates and wage growth, which improved affordability, and by a boost buyer confidence.

The reduction in mortgage rates, some reaching their lowest levels in 15 months, has been a significant factor in revitalizing buyer interest. This decline has led to significant increase in new buyers being registered, viewings booked, and indeed sales agreed, compared to January 2024.

Additionally, mortgage approvals have risen above pre-pandemic levels, indicating a sustained recovery in market activity.

Looking ahead, we anticipate modest house price growth in 2025 of perhaps 3-4%. This projection is supported by expectations of further reductions in mortgage rates and continued income growth, which are likely to enhance affordability and sustain buyer demand.

However, the changes to the stamp duty levels in April may influence market dynamics, with many first time buyers already having bought to save thousands of pounds.

In summary : As of January 30^th the West Midlands housing market has experienced notable trends in property prices and sales volumes.

Property Prices:

The average property price in the West Midlands is £281,321, reflecting a 4.1% increase from the previous year.
Detached houses average £455,264, semi-detached £257,931, terraced £211,025, and flats £153,160.

Market Dynamics:

The impending stamp duty changes effective April 1, 2025, are expected to influence buyer behavior, potentially leading to a surge in transactions before the deadline.
The anticipated stamp duty changes may lead to a temporary increase in market activity as buyers aim to complete purchases before the new rates take effect.

Buyer Activity:

First-time buyers, often supported by family contributions, remain active in the market.

Rentals :

The rental sector is experiencing high demand, with landlords facing challenges such as increased mortgage rates and regulatory changes, prompting some to sell properties.

Outlook:

Experts predict modest growth in house prices for 2025, with regions like the Midlands potentially outperforming the UK average, forecasting a 2.5% annual increase.

Mortgage Rates and Affordability :

Mortgage rates are projected to remain above 5% throughout 2025. This sustained elevation in rates may continue to challenge affordability for some potential buyers.

General market forecasts :

Existing home sales are anticipated to rise by 9% year-over-year, with new home sales projected to increase by 11%.

Conclusion :

In summary, the 2025 housing market is projected to experience modest growth in home prices and sales. Prospective buyers and sellers should closely monitor local market conditions and mortgage rate trends to make informed decisions. For expert advice please contact any of our local offices.

Want to check how much your home is worth? You can get an Instant Valuation here.

Four Oaks 0121 323 3088

Sutton Coldfield 0121 321 2101

Walmley 0121 313 2888

Great Barr 0121 358 6222

Lettings 0121 312 4997

Thank you for reading this article, and your interest in Acres and our property for sale.

Nigel & Jayne Deekes – Acres Partners

Details: Published: 19 January 2025; Hits: 2533

You don’t need a higher-paying job or a windfall from a relative to improve your personal finances. For many people, better money management is all it takes to reduce their spending, improve their ability to invest and save, and achieve financial goals that once seemed impossible. Even if you feel like your finances are stuck in a bad place with no way out, there are several things you can do to create a better situation for yourself. Here are seven to get you started.

1. Track your spending to improve your finances.

If you don’t know what and where you’re spending each month, there’s a good chance your personal spending habits have room for improvement. Better money management starts with spending awareness. Use a money management app to track spending across categories and see for yourself how much you’re spending on non-essentials such as dining, entertainment, and even that daily coffee. Once you’ve educated yourself on these habits, you can make a plan to improve.

2. Create a realistic monthly budget.

Use your monthly spending habits, as well as your monthly take-home pay, to set a budget you know you can keep.There’s no use setting a strict budget based on drastic changes, such as never eating out when you’re currently ordering takeout four times a week. Create a budget that works with your lifestyle and spending habits. You should see a budget as a way to encourage better habits, such as cooking at home more often, but give yourself a realistic shot at meeting this budget. That’s the only way this money management method will work.

3. Build up your savings—even if it takes time.

Create an emergency fund that you can dip into when unforeseen circumstances strike. Even if your contributions are small, this fund can save you from risky situations in which you’re forced to borrow money at high-interest rates or possibly find yourself unable to pay your bills on time.

4. Pay your bills on time every month.

Paying bills on time is an easy way to manage your money wisely, and it comes with excellent benefits: It helps you avoid late fees and prioritises essential spending. A strong on-time payment history can also lift your credit score and improve your interest rates.

5. Cut back on recurring charges.

Do you subscribe to services you never use? It’s easy to forget about monthly subscriptions to streaming services and mobile apps that charge your bank account even when you don’t regularly use these services. Review your spending for charges like these, and consider cancelling unnecessary subscriptions to hold onto more money each month.

6. Save up cash to afford big purchases.

Certain kinds of loans and debt can be helpful when making major purchases, such as a house or even a car that you need right now. But for other big purchases, cash offers the safest and cheapest buying option. When you buy in cash, you avoid generating interest and creating a debt that requires months—or, often, years—to pay back. In the meantime, that saved money can sit in a bank account and accumulate interest that can be put toward your purchase.

7. Start an investment strategy.

Even if your ability to invest is limited, small contributions to investment accounts can help you use your earned money to generate more income. The path to better finances starts with changing your own habits. Some of these changes will be easier than others, but if you stay committed to this transformation, you’ll end up with great money management skills that will serve you throughout your life—and in the meantime, you’ll have more money in your pocket. The foundation of good money management is a rock-solid budget. Create your own by downloading one of the many available on line.

Information provided by https://www.fscb.com/blog/7-money-management-tips-to-improve-your-finances