Latest Property News

Details: Published: 11 October 2024; Hits: 1275

Moving can be spooky, but with the choice of property available, and the back up of our first rate team Acres will remove the scary part of selling, or buying.

Four Oaks 0121 323 3088

Sutton Coldfield 0121 321 2101

Walmley 0121 313 2888

Great Barr 0121 358 6222

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

Nigel & Jayne Deekes – Acres Partners

Details: Published: 21 September 2024; Hits: 1857

We are delighted to announce that following Chris’s exceptional work at our Great Barr office, greatly assisted of course by his superb team, that the partnership now welcomes Chris in as an Associate partner of Acres.

Chris commented " As a family business I have from my childhood aspired to join the team and continue the outstanding service and success Acres have enjoyed over the past 32 years. I very much look forward to the continuing success and growth of Acres, to working with the Partners, my parents, Nigel & Jayne, and to the future decades to come with my fiance Natalie, whom I met at Acres, and with my sister Katie who is based at our Walmley office, as well as of course the excellent, dedicated team / managers we have "

Chris's interest in agency was there since childhood, always saying he wanted to be part of the family business. Initially joining a corporate agency, rather than taking the “easy” route by joining the family business Chris trained initially for two years in lettings as he felt to have a full knowledge of all aspects of agency was paramount. Joining Acres seven years ago as a negotiator his flair, and proactiveness soon shone through. Progression was earnt; accordingly, Chris became manager of our Great Barr office taking it from its already strong position to market leader.

If you are considering a move and live within the Great Barr area please give Chris, or his outstanding team a call on 0121 358 6222 or email Chris This email address is being protected from spambots. You need JavaScript enabled to view it.

Details: Published: 16 September 2024; Hits: 2317

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 reportwhich 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.”

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

Information provided by

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

Details: Published: 17 July 2024; Hits: 1608

Housing changes the UK hopes to see

Before the election, property experts Rightmove carried out a survey to ascertain what this new government’s priorities should be when it comes to housing. Here is a roundup of what the nation is hoping for.

Speed up housebuilding

One of the top recommendations was making improvements to the housebuilding process¹. Buyer demand has increased by 15% since 2019, but the number of available homes has not increased at the same rate. In fact, supply is 6% lower than before the pandemic. The rental market has experienced a similar challenge – tenant demand is 32% higher than 2019 but supply of rented homes is down 38%. As a result, asking prices and rents have increased. To solve this, Rightmove’s property expert Tim Bannister suggests “smoother planning processes to transform the delivery of new homes and produce more affordable housing”.

Help for first-time buyers

Another top priority was providing better support for first-time buyers (FTBs). It is perhaps unsurprising that this was the most popular request from renters, as now is a particularly challenging time to get a foot on the property ladder and the average age of FTBs is increasing². Rightmove’s mortgage expert, Matt Smith commented,“it’s critical that the government works with regulators and lenders from day one on any mortgage solutions, to ensure buy in and take up, which will in turn create more options for first-time buyers.”

Reform Stamp Duty

Many have called for changes to Stamp Duty¹. FTBs in England and Northern Ireland have been exempt from Stamp Duty on homes up to £425,000 since 2022. But this exemption (due to end in April 2025) is not beneficial for most FTBs in the capital, where house prices are higher than the rest of the UK. With this in mind, Tim Bannister reflects, “With such regional differences in property prices, increasing Stamp Duty thresholds in line with these regional differences would seem a logical first step for Stamp Duty reform.”

Make homes greener

Homeowners and renters would like to see the government put some incentives in place to encourage people to make their properties greener. Following Rishi Sunak’s announcement that private rented properties will no longer have to meet the minimum EPC rating of C, many landlords have put their plans to improve energy efficiency on the back burner. Rightmove commented, ‘Homeowners also need better and easier access to schemes that enable them to make green improvements, with the recognition that each home requires different improvements and that currently the upfront costs are a big barrier to change.’

We’re here for you

As the UK settles into the new government, we are here to help you through any changes.

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

¹Rightmove, ²BSA

Details: Published: 01 January 2024; Hits: 642

Last year, Acres was delighted to celebrate its 20^th anniversary of supporting the Royal Sutton Fun Run.

Our team of 22 entrants raised £730 for our chosen charity, Motor Neurone Disease Association and we also contributed £200 to Brain Tumour Research, the chosen charity of our selfie competition winners, Pink Mad Hatters.

We were thrilled to learn the 4000+ entrants in last year’s 40th event, raised £187,100.

This figure was more than double the total raised in 2022, and takes the total distributed to charities and voluntary organisations to an astonishing £5.1million since the first event in 1982.

Acres is thrilled to be supporting this year’s event on 2^nd June, its traditional date on the Sunday at the end of spring half term.

Fun Run Event Director, Tracey Spare said: “We’ve enjoyed fabulous commercial support from Acres as a supporting sponsor since 2003.

“They have sponsored the very distinctive mile and landmark signs around the course, which, for most people, are a crucial indicator of how many miles remain to complete the challenging 8.5-mile course.

“Back in 1982, the Fun Run was created to provide a vehicle for people to enjoy an event with family, friends and work colleagues whilst offering the opportunity to raise money for a charity or voluntary organisation of their choice.

“Acres has consistently embraced that model by entering a large team and raising thousands of pounds for its chosen charity Motor Neurone Disease Association.

“Alongside all our commercial partners, we’re indebted to Acres for its support, both as a commercial partner and team entrant.”

Part of the appeal of the annual Royal Sutton Fun Run is that it’s not a race. There are no restrictions on who can participate and they welcome participants of all ages and abilities, including those with learning, physical or emotional life challenges.

Online registration for the 41^st Royal Sutton Fun Run opens over the first weekend of February via www.royalsuttonfunrun.org