UK interest rates on hold

There’s potential good news for those with a mortgage as interest rates are put on hold by the Bank of England.

Interest rates were last year raised to 0.75% from 0.5%, but the Bank’s Monetary Policy Committee voted to keep rates as they are due to the timing of our EU withdrawal.

When asked whether interest rates would move up or down when the time is right, the MPC stated that they could move “in either direction”

How this could impact mortgage rates

When the interest rate rose to 0.75% last year, a rise in mortgage rates also followed. This meant that most who were not on a fixed mortgage deal were soon asked to pay more towards their mortgage every month.

As interest rates remain the same, mortgage repayments should also remain the same for the time being.

Need some advice on your mortgage?

If you’re not on a fixed rate deal, it may be a good idea to do so. This should protect you if interest rates raise any further.

Our recommended mortgage broker can talk you through this during a free appointment. Just call 0115 924 3304 or use the form below.

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Mortgage and protection advice is provided through our association with the mortgage brokers at Premier Mortgage Services (Nottingham) Ltd. Their mortgage brokers have been providing advice for over 20 years on all types of mortgages and circumstances.

A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Think carefully before securing other debts against your home. 

Estate Agents Beeston – Property for sale

Estate Agents Beeston

Walton & Allen estate agents Beeston have recently been selling property around the Beeston and Bramcote areas with great success.

Did you know? Walton & Allen have been voted as one of the top 3 estate agents in Nottingham by ThreeBestRated. Find out how we can sell your house here.

Talk to us today to find out how much your Beeston property is worth. Call our expert Senior Valuers on 0115 924 3304 or use the form at the bottom of this page.

We operate a no sale, no fee policy so it is completely free to get a valuation if you are looking to sell your property within the next few months.

Beeston Property

Beeston is an extremely sought after area when it comes to buying property, particularly for first time buyers. There is a wide range of property available, all at varied prices. The most popular properties for sale in Beeston in the last year were semi-detached houses.

Recently we sold a property in Bramcote on Ewe Lamb Lane. This had 84 viewings and 7 offers, proving just how popular the area can be!

estate agents beeston bramcote

We also just sold a terrace house on Derby Road, very close to Beeston and Bramcote village. This had 8 viewings and sold within 14 days of coming to market! View a 360 tour of this house below. Ensure you watch through the YouTube app if you’re reading this post on mobile.

About Beeston, Nottingham

Beeston as a whole has had approximately 106 completed sales in the last 12 months according to Zoopla. House prices are also on the up by 4% over the last year and up 17% since 2007. The average sale price can vary from £59,950 up to £1.25million, with property prices increasing further in nearby Beeston Fields.

With great links to the QMC hospital and Derby, plus the A52, M1 and tram links, there is so much to offer for those living in the area.

The Beeston high street is a thriving community with shops, bars, restaurants and a local college.

Beeston Property Valuations

If you’re looking to sell your property in Beeston or Bramcote, use the below form. We provide free property valuations in Beeston, as well as property sales, lettings and Beeston mortgage advice.

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Mortgage Advice Beeston

Walton & Allen estate agents also offer initial free, independent mortgage advice. This will help you choose the best lender and hopefully the best deal for you, depending on your financial circumstances. Use the form below to book an appointment with our mortgage advisor, or to request some advice over the phone. You can also call us on 0115 924 3304.

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Beeston Landlords

If you are a Landlord with a property to let in Beeston then we are here to help. We manage properties for hundreds of Landlords which involves finding tenants, collecting rent and managing maintenance issues.

Beeston is a brilliant place for Buy To Lets as plenty of students live nearby and there is no requirement to have a Nottingham Selective License.

If you’d like to find out what we can do for you on our Landlord fully managed service then get in touch. We can also provide up to date rental valuations on any Beeston property. Just call 0115 924 3304 or use the form above.

About Walton & Allen Estate Agents Beeston

Established in 2000, Walton & Allen Estate Agents are an independent, family run sales and lettings agency. We provide property for sale, to rent, mortgage advice, block management and maintenance services across the whole of Nottinghamshire.

Our expert team has over 100 years combined property knowledge. We will always attempt to get the best possible price for your Beeston property, and sell it in as quick a time as possible to help you move.

We’re a friendly team and always happy to help!

Letting a property to tenants

Letting a property to tenants: Your essential guide

So you’re considering letting your property to tenants. As letting agents in Nottingham, Walton & Allen have decades of experience in the rental market.

Whether you’ve bought a new property as a buy to let investment, or you’re thinking of letting your residential home, this guide will help you get started.

Getting started with letting a property

You will need to make a few changes before you consider letting a property.

Talk to your mortgage company

If your property is mortgaged and you have previously been living there, it is likely you will have to change over to a buy to let mortgage. Be honest with your mortgage lender as there could be serious consequences.

Look at your insurance policies

You’ll need to talk to your building insurance provider and tell them you are letting the property. You’ll also want to look at getting landlord insurance. This could cover you for damage to your property, tenants not paying rent or public liability if your tenant injures themselves and blames you.

Check your EPC rating

An EPC (Energy Performance Certificate) is a legal requirement when letting a property. As of April 2018, all EPCs legally have to be above an E rating. Anything below an E and you cannot let your property to tenants.

Check to see if you need a licence to let your property

Nottingham City Council have introduced a Selective Licensing scheme to most properties within their boundaries. This means you will need to apply for a licence before you can legally let your property. There are many requirements which need to be adhered to which will ensure you remain compliant. Read more about Selective Licensing.

Your property needs to be gas safe

Your property will need a Gas Safety certificate before tenants move in. This is another legal requirement to keep your tenants safe. Some blocks of flats do not have gas and will not need a Gas Safety certificate. You must check this.

Check your detectors!

You will need at least one smoke alarm on each floor of the property. You’ll also need to look at carbon monoxide alarms in any room where solid fuel appliances are contained.

Do your checks

Can you afford it?

Letting a property can be a big financial strain. To begin with, buy to let mortgages usually have higher fees.

You’ll also need to consider how you will pay for the mortgage when the property is left empty. Most landlords ensure they have some savings to cover this as it could take two or more months to find new tenants.

Think about maintenance work to your property as well. Properties naturally deteriorate over time and general repairs will have to be made. Tenants may also cause damage which will need to be fixed when they move out.

How much rent can you achieve?

This is a big question for new landlords. Talk to Ricky, our Investments Manager, who will be able to give you a free rental valuation. This can be done either over the phone or in person. Find out how much rent you can achieve today by calling 0115 924 3304 or visit our rental income page.

What else needs to be considered?

Whilst we have tried to include all essential information in this guide, lettings legislation can change regularly and there may be other things you need to consider based on your individual circumstances. Our advice would be to speak to our lettings team directly to go through the finer details. We’ll aim to ensure nothing is missed. Just call 0115 924 3304 today.

Nottingham housing market strongest in UK

New figures from Zoopla reveal that the Nottingham housing market is the strongest in the UK.

The Daily Mail has reported that Nottingham property owners are selling their homes in good time and with little discounts too.

Nottingham Housing Market

According to the latest reports by Hometrack, Nottingham was joint third for growth again. Nottingham house prices grew 5.2% over the last 12 months. The city was joint third with Belfast and was just behind Manchester at 5.6% growth and Leicester at 6.1% growth.

Nottingham house price growth is also high above the rest of the UK average, which currently stands at just 3.1%!

The other great news here is that Nottingham had a below average price discount of just 2 per cent. This means that Vendors who are looking to sell their property are hardly having to accept discounted offers. Sales are also agreed quicker than average in Nottingham. The average time to achieve a sale was also less than 2 months.

nottingham housing market

Nottingham housing market remains strong

Interestingly, some of the top cities for growth last month have seen a large drop. Edinburgh, for example, registered property price growth of 6.6% last month (year on year), but has dropped to only 3.0% growth this month.

Nottingham remains resilient and has stayed strong. As mentioned, the city remains in the top three for growth across the UK.

East Midlands housing market

The East Midlands as a whole has seen growth over both the last month and the last twelve months. Rightmove report that there is a month on month increase of 0.7% and an annual  increase of 2.7%. The East Midlands is also one of the quickest areas to agree a sale in England, just behind the West Midlands.

Thoughts from our Estate Agents in Nottingham

Walton & Allen continues to sell property quickly, and at the right price. There is a huge demand for property in Nottingham and we have never seen more out of town buyers. It would seem the great value Nottingham offers is reaching investors from all overt the country. Nottingham house prices, although rising, offer fantastic value and are affordable to first time buyers. Due to the buoyant housing market in Nottingham, sellers have found there is little need to accept discounted offers. Property prices in Nottingham have seen a steady increase throughout the last three years and it seems set to continue. Now is a great time to take advantage of the growth the city has to offer.

Is now a good time to sell?

Yes. You are extremely likely to sell within a reasonable amount of time, at a price you are happy to accept. This will allow you to either climb the housing ladder or realise the value you have already accrued.

If you are looking to move then why not see how much your property is worth today, for free?

How much is your Nottingham property worth?

Find out how much your property is worth by calling us on 0115 924 3304. Alternatively, you can use the form below.

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Buy To Let Mortgage Nottingham

Buy to let mortgage advice

Are you looking for a buy to let mortgage in Nottingham? Whether you’re a first time or experienced Landlord, we can advise on almost every deal available.

A buy to let mortgage is different from a normal residential mortgage. Lenders will usually require a higher deposit (usually 25% or higher) and fees are also likely to be higher.

Buy to let mortgage information

You can look to apply for a buy to let mortgage under the following circumstances:

  • You want to rent your property out to tenants
  • You can afford to take a financial risk on an investment
  • You already own your own home, with our without an existing mortgage
  • You have a good credit report
  • You will typically have an income of £25,000 or over

How much can you borrow on a buy to let mortgage?

Knowing how much you can borrow can vary wildly depending on your own financial circumstances. We would always recommend talking to our recommended broker to find out how much you can borrow on a buy to let mortgage. The initial advice is free of charge. To chat, call 0115 924 3304. Alternatively use the form at the bottom of this page to ask any questions. Our recommended mortgage broker works on behalf of Premier Mortgage Services.

What else do you need to think about?

A buy to let mortgage can be a risk. It is likely that your investment property will never have tenants 100 percent of the time. When the property is unoccupied it is likely that you will have to pay for the mortgage out of your own pocket. When you do have tenants renting your property we would always advise to keep some rental income aside for these situations.

You may also need to spend additional money on conducting repairs or on regular property maintenance.

Don’t just stick to mortgage comparison websites

Mortgage brokers such as the ones who work with Walton & Allen Estate Agents are whole of market. This means that they can compare almost every mortgage deal available. Some comparison sites are limited and brokers also have access to exclusive deals which these sites do not have. It’s worth getting a second opinion for free.

Talk to a mortgage broker today

You can gain free initial advice by calling 0115 924 3304. There we will be able to answer any questions you may have and book an appointment for you if necessary. You can also fill in your details here to arrange a callback.

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Mortgage and protection advice is provided through our association with the mortgage brokers at Premier Mortgage Services (Nottingham) Ltd. Their mortgage brokers have been providing advice for over 20 years on all types of mortgages and circumstances. By submitting your details through this page you accept that we will pass your information to Premier Mortgage Services. We will never share your details with anyone else without your permission.

A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Think carefully before securing other debts against your home. 

Landlord Redress Scheme: What You Need To Know

Landlord redress scheme announced

James Brokenshire, Communities Secretary, has announced this week that landlords will soon have to legally join a landlord redress scheme. There will be fines of up to £50,000 if they fail to comply.

Currently there are no legal requirements whatsoever for Landlords to join a complaints body, although letting agents who manage properties are already required to do so by law.

The new system will be called the ‘Housing Complaints Resolution Service‘, making it easier for tenants to claim compensation.

The Communities Secretary explained “the proposals I have announced will help ensure all residents are able to access help when they need it, so disputes can be resolved faster, and people can get compensation where it’s owed”.

How will this affect Landlords?

This is yet another blow to Nottingham Landlords who have had a tough few months. The majority have already had to comply with the Selective Licensing scheme which was thought to be sufficient in helping tenants live in suitable accommodation, without complaints.

Landlords who already have their properties managed through a letting agent should be exempt from this, although this is yet to be confirmed by the government.

When will this landlord redress scheme come into force?

There has been no official date for the new landlord redress scheme as of yet. We will keep you updated with new information as we receive it. It is not expected to be for at least another twelve months before they introduce such a scheme.

What will the costs be for the redress scheme?

The scheme has only been announced. This means no costs have been provided as of yet.

Is this the final straw for you as a private Landlord?

If you need advice when complying with all current and future Landlord legislation then talk to us today. You can call 0115 924 3304 or use the contact form below.

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Mortgage without a deposit

You can get a mortgage without a deposit in Nottingham

These days it is unusual for any lender to offer a mortgage without a deposit. However, Lloyds bank has stepped up and is now offering a new deal to help first time buyers.

Sometimes called a 100% mortgage, the first time buyer will not need to have saved a deposit when they apply. There is a catch though, and one of their family members must have 10% of the purchase price in their Lloyds savings account.

The property will still be in the first time buyer’s name and will still legally own the property.

What are the repayments like for a mortgage without a deposit?

Generally 100% mortgages can cost more. The interest rate is fairly high compared to other fixed deals and at the time of writing is 2.99%.

The mortgage deal is fixed for three years which means payments will never change throughout this time. The family member will also get their savings back at the end of the three years, as long as all repayments are made throughout the term. The savings cannot legally be retrieved until this time.

What does this mean for first time buyers?

Saving for a deposit is often one of the biggest hurdles for those looking to get onto the property ladder. Lloyds have stated that this mortgage deal is part of a £30bn commitment to help first time buyers.

Other lenders such as Barclays are also offering great deals for those looking to buy their first home, however most of those require at least a 5% deposit.

Is this the right mortgage deal for you?

Although this may look like a great helping hand, it may not be the best mortgage deal for you personally. Your absolute best option is to always speak to a mortgage advisor first of all to see which deals are available based on your own financial circumstances. Booking an initial chat over the phone or in person with our mortgage advisor is free of charge. You can talk to someone today by calling 0115 924 3304 or leave a message below to find out more.

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Mortgage and protection advice is provided through our association with the mortgage brokers at Premier Mortgage Services (Nottingham) Ltd. Their mortgage brokers have been providing advice for over 20 years on all types of mortgages and circumstances.

A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Think carefully before securing other debts against your home. 

Nottingham property prices third in country for growth

Nottingham property prices now third in the country for growth over the last year

Nottingham property prices growth is off to a great start in 2019. The latest report provided by Hometrack shows that at the end of the year Nottingham was third for price growth across the whole of the country.

In the last 12 months, Nottingham property prices have increased by 5.7%. The only cities with higher growth were Birmingham at 6.3% and both Manchester and Edinburgh in the top position at 6.6%.

Nottingham also saw a property price growth of 0.9% in the last month alone.

Where is the Nottingham property market heading?

In 2019, the average growth predicted across the country is 2%. Nottingham is expected to continue to outperform the majority of the country with price growth expected to be much higher.

If you’re looking to move then there is no better time than now.

Walton & Allen Estate Agents in Nottingham have seen a large rise in valuation requests already in 2019. In addition, Rightmove have released figures which state visits to their website are up 5% on the previous year. This shows that more buyers than ever are looking to find that perfect home.

Get a Nottingham property valuation

Are you wondering how much your house is now worth after the continued rise in Nottingham property prices? You can call us on 0115 924 3304 to find out, or alternatively use the form below.

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Nottingham house prices rising twice as fast as other cities

Nottingham house prices rising extremely quickly

Home owners in Nottingham are seeing their house prices rise at twice the speed of the national average. This is according to the Land Registry.

In October 2018 the average property price in Nottingham stood at £144,416 which was up 5.6% on the previous year. The average price in the county of Nottinghamshire went up by 5.2%, from £169,838  to £178,641. This was an increase of over £8,000 in a single year.

The East Midlands as a whole is currently a property hot spot. Prices are rising quicker in this area than most others in the country. The city has also recently been ranked as the best for buy to let investments across the whole of the UK.

How much is your property now worth?

If you bought a property for £150,000 in 2017, it could now be worth £158,400; a rise of £8,400. If you bought a property for £250,000 in 2017 it may be worth over £264,000. This would be an increase of £14,000.

You can find out exactly how much your house may be worth by speaking to our sales team at Walton & Allen Estate Agents Nottingham. Call them today to find out over the phone on 0115 924 3304. You can also use the form below to request an on-site valuation.

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Nottingham 2019 House Prices

Nottingham House Prices: Our Take

Nottingham has seen a great increase in house prices over 2018. It ranked top in the UK for house price growth throughout many months in 2018 and will likely continue to do so in 2019.

Nottingham was also rated as the top city for buy to let investments on a number of occasions throughout 2018.

Nottingham 2018 House Prices

At the end of 2018 Nottingham house prices sit in 5th place for growth in the last 12 months. According to Hometrack which analyses house prices at city level rather than in regional averages, prices are up 6.1%. In front in fourth place was Birmingham with 6.2%, Manchester in third at 6.3%, Edinburgh in second place at 7.4% and Leicester in first at 7.7%.

Nottingham house prices also ranked 6th throughout the UK for price growth over the last three months. This stands at 1.8% at the time of writing.

House prices in Nottingham are in a good position currently. Many who are looking to sell are doing so now whilst prices are high and before a final decision has been made on Brexit.

What does this mean for your Nottingham House?

If you bought a property for £150,000 in Autumn 2017 then it could now be worth £159,150, an increase of over £9,000. A house bought for £250,000 at around the same time could now be worth over £15,000 more! Have you made around £10,000 more on your property? Find out how much your property is worth today by calling 0115 924 3304 or by using the form below.

Nottingham House Prices

A recent report by Rightmove suggested that house prices in the north will continue to grow in 2019. Those further south, most specifically London and the surrounding commuter towns will see a large drop by up to 4%. This is good news for Nottingham home owners who could potentially see a large profit if they are now looking to sell.

Impact of Brexit

The Bank of England governor, Mark Carney, has urged people not to worry too much about Brexit. House prices will always be up and down. “We are advising people to be prudent. If you are taking out a mortgage, at some stage during the life of that mortgage, conditions will be difficult.” He also stated that a property price crash is not going to -or even likely- to take place and therefore there is no need to panic.

So, this seems to mean that there is no evidence that Nottingham house prices will be hugely affected by Brexit.

Find out how much your Nottingham property is now worth

Considering the above, are you interested in finding out how much you could have made on your Nottingham property? Call 0115 924 3304 or alternatively use the form below.

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