Northfields

Prices for Ealing Property are up 20.2% from last year

Demand for family properties in the Ealing area is driving property prices up.  According to an article on EalingToday.co.uk, the average house price in the W5 postcode is topping £500,000.  This amounts to a 20.2% rise when compared to last year’s prices, while in W13 prices were up 13.9%.  In the W13 postcode area the average house price hit £463,353.

Working flat out

The number of flats sold during the first three months of the year was up by 84.2% according to Ealing Today.  Average prices for flats have reached record highs with an all-time high of £356,000 being recorded. 

Interestingly, if you compare the number of flats being sold with the number of houses, it is clear that although both flats and houses have seen rising prices, the houses have not seen an increase in transaction numbers.  In fact, the volume of house sales in W13 has dropped.  The lack of activity at the top end of the market could well be attributed to families who are holding onto their properties, particularly those that sit within well-regarded school catchment areas.

Ealing’s Golden Triangle

As the only agent in Ealing with three offices, one in each of the three keys areas of Ealing’s Golden Triangle made up of Ealing Broadway, Northfields and Pitshanger, Northfields is uniquely placed to have an overview of the market.  As result of our expertise in the Ealing area we can say that there is a great deal of competition for family homes, especially where well-reputed school catchment areas are concerned. 

For example, Northfields sold a 3 bedroom house in Fowler’s Walk, W5 in November 2012 for £470,000.  At the time, the sale was the highest price attained on the road for the last 3 years. 

Sales Manager, David Orpin

However, Northfields has just agreed a sale on a 2 bedroom house in the same road for in excess of the £470,000 we achieved at the end of last year in the same road.  “This example in Fowler’s Walk is a microcosm of the Ealing market”, explains Sales Manager at our Pitshanger office, David Orpin. “With people hanging onto to the highly desirable properties in W13 and W5, there are more people competing for fewer available properties resulting in a demand that has driven prices upward.”

With our new sales office in Ealing Broadway, Northfields has offices in the three key areas of Ealing, so sellers will be sure that their properties will be seen by buyers registering in all three areas to capitalise on competition for the highly desirable family homes that don’t stay long on the market.

To get an opinion on how your property’s value has been affected by changes in Ealing over the last year, call us for a free, no obligation valuation of your home on 020 8740 6622.  There’s no pressure, no fuss and it only takes 20 minutes. 

If your agent doesn’t have a mobile site you may be missing out on 1 in 5 people searching for property

You’ve done all your research.  You invited a few estate agents around to your property to get it valued.  You've looked at all the comparative research and marketing materials that the agents provided.  You have a feel for what agents you feel comfortable with and which agents you feel you can trust.  You feel ready to make your decision on what agent should market your property.

But wait right there!

Did you remember to ask each agent if they have a mobile version of their website?

This question may seem like a minor consideration except when you consider:

1 in 5 people searching for property access property websites via a mobile device

What that means for you

If your estate agent does not have a mobile website then you are missing out on 1 in 5 potential buyers or tenants for your property.

Can you afford to miss out on a potentially great buyer or tenant?

Not only that, but people who access property websites via mobile devices spend more time looking than people searching on a desktop or laptop computer and view more pages.  Here are some stats on how many minutes on average people spend on a property website and how many pages they view according to what type of device they use:

Device	Number of pages viewed	Number of minutes  per visitor per month spent on site
Laptop	50	32 minutes
Android mobile device	90	50 minutes
Iphone	154	63 minutes
Ipad	167	74 minutes

So when you invite an agent to value your property, one of your questions should be:

“Do you have a mobile version of your website?”

Northfields does have a mobile version of our website and even an easy to use app.  So all of our landlords and sellers know that their properties are going to be seen by 5 out of 5 people accessing property websites.  Now that is 5 star service.

Call us on 020 8740 6622 or e-mail us at enquiries@northfields.co.uk and we can give you an accurate, no-obligation valuation of your home.

Our Customers Can Sign Paperwork in their PJs, on a Train, in Singapore or Anywhere with An Internet Connection

The latest innovation from your local award winning agent

Think back to the last time you signed a piece of paperwork related to your property.

How long did it take? 

Where were you? 

Could the process have been faster or easier?

At Northfields we've been looking at ways to answer that last question.

We know that you are busy and don't always have time to pop into our offices to sign paperwork.  Or don't want to fuss with putting paperwork in the post.  So, as part of our continuing efforts to make the process of letting or selling a property as effortless and convenient as possible for all our customers we are introducing Docusign, the fastest, most secure way to sign documents electronically anytime, anywhere and on any Internet-enabled device.

Using Docusign couldn’t be any simpler; when your paperwork, is ready for you to sign, you will receive an email alert directly from one of our team through the Docusign software which will allow you to begin the signing process. The easy-to-follow on-line instructions guide you smoothly through the procedure. Once all signatories have signed the documents you will receive a copy of the final paperwork via email for your records.  All electronically signed documentation via Docusign is legally binding and is certified at completion to all parties*.

The ability for us to send and receive documents which require a signature through Docusign not only gives you peace of mind that your legal paperwork has reached us and all parties safely, but it also allows you to sign your agreement effortlessly and at your own convenience.

Docusign is particularly good news for landlords or sellers based overseas.

If you are already one of our customers, please kindly let us know if you have changed your email address or have not yet provided one so that you will be able to take advantage of using Docusign. You can do this by either calling or emailing your local office, the details of which you can find on our website.

Naturally, should you have any questions relating to Docusign then please do not hesitate to contact us on 020 8840 6666 or via email at enquiries@northfields.co.uk.

And if you prefer to keep signing your paperwork in person, then don't worry, that option is still available.

Is your estate agent using Docusign?  If not, maybe it is time to make the change - call us on 020 8740 6622 or e-mail us at enquiries@northfields.co.uk and we can give you an accurate, no-obligation valuation of your property.

Nothing fishy about our gold standard service in Ealing Broadway

Our team are always telling stories about how they have been able to help our sellers get their property sold so they can get what they need from their move.  One of our current favourite stories involves our sellers whose property in Ealing Broadway we have just sold and their fish.  Yes, you read that right, their fish.

At Northfields we are very used to finding people new homes but this is the first time we’ve ever had to think about re-housing fish.  For 10 years Jane and Phil have had three goldfish in a half barrel in their back garden.  Having made the decision to move to France where they plan on enjoying the food and wine, Phil and Jane have taken the first step toward their new life by selling their home near Ealing Broadway. 

With the house under offer through Northfields, Jane and Phil are now thinking about what things they may leave behind.  They told us that although goldfish do not usually form part of the fixtures and fittings included in a house sale, they are hoping the new residents will be happy to adopt their goldfish.  The remaining two fish, Ron and Harry (Hermione mysteriously went missing a while ago) “sadly are not fluent in French”, according to Jane, but she reassures us that they are fluent in English and fully house-trained (or should that be barrel-trained?).  Predominantly, the fish are quite self-sufficient, but Jane hopes that the new residents will love the two fish. 

Steve Clements, our fish relocation expert and Sales Manager

In any event, Steve our Sales Manager in Ealing reassured Jane that if the new residents do not want to adopt the outdoor goldfish then he can put his relocation skills to work and to find them a new home with his niece.  Maybe fish relocation isn’t what we do on a daily basis, but as far as we are concerned no fish gets left behind on Northfields’ watch.

We thought Jane and Phil's story was so funny that we entered it into the Rightmove Funny Property stories competition in the hopes that we could win £50 of gift vouchers for them - £50 buys a lot of fish food!  Sadly, Jane and Phil's story did not win the top prize, but it was featured on the Rightmove blog under the Animals & Creatures category. 

At least, we were all able to have a good giggle about it.  At Northfields we don't think that selling or buying property has to be stressful, so if we can do something to lighten the mood, we will do so gladly. 

Thanks to Jane and Phil for sharing their story with us!

If you are thinking of selling and want an agent who cares about what you care about (including, but not limited to your goldfish), then contact us on 020 8740 6622 e-mail us at enquiries@northfields.co.uk and we can give you an accurate, no-obligation valuation of your home.

There’s no fuss. There’s no hard sell. It only takes 20 minutes and it’s free.

3 Bedroom House for Sale in Acton, W3

Scope for use as two separate apartments or to be remodelled back into the original single family home

Dordrecht Road, Acton, W3

• Extended lounge
• Kitchen
• Family Bathroom
• Ground Floor Bedroom
• First Floor Lounge/kitchen
• Three Bedrooms
• West Facing Garden
• Garage
• No onward chain
• Less than a 20 minute walk to Stamford Brook (District Line) underground station 
• Easy access of the Westfield shopping Centre in Shepherds Bush plus the array of shops, bars and restaurants on Chiswick High Road

See more photos photos, floorplans and information on this 3 bedroom property for sale in Acton W3 or to book your viewing online by clicking the link.

£669,950

Rightmove Reports Record Number of People Searching for Property

In the first 10 days of 2012, property portal Rightmove reported record levels of people searching for property.  Searches were up by 27% on figures for the same period of 2011, equating to 44 million property searches on Rightmove alone.  These figures don’t take into account other property search websites such as FindaProperty.com, Globrix or Zoopla.   

Does this mean the market will pick up?

The high levels of searches being done by potential buyers does not necessarily translate to those potential buyers becoming proceedable buyers.  While buyer interest is strong, it is more likely that property searchers are intensely researching the market.  Potential buyers are scouring property portals for many purposes including seeing what they could afford, how much they might be able to sell their own property for or to simply find to that one-in-a-million property that offers the best combination of value, potential, location or the “wow” factor.  In many cases, online house-hunters are looking through properties for a combination of all these reasons. 

Although many of these buyers will be constrained by the lack of mortgage availability, the surge in buyer interest does show there is a pent-up demand for many to move.

As the Rightmove report also comments:
“It also emphasises the fact that, were a larger number of mortgages available to the market, the interest, confidence and necessity to buy would lift the current muted sales transaction numbers from the virtual subsistence level of the last three years.”

Not enough properties on the market

Despite the fact that the number of searches for properties for sale is at a high, Rightmove has also recorded the lowest level of new supply per estate agency branch ever recorded by the property portal– an average of less than one new listing per branch per week.

That means there are more people searching for far fewer properties.

Miles Shipside, director of Rightmove shared his thoughts on the current market outlook: “Old records are being shattered as search activity is up by a staggering 27% on this time last year. Potential buyers and sellers are looking more often and researching more thoroughly. In areas where there is a lot of property up for sale, buyers are looking hard for properties that tempt them with something really special in terms of value, potential, location or quality of finish. If it doesn’t shout ‘special’ then they are unlikely to overpay for the privilege of buying an average property in these mortgage-constrained times. In locations where there is little stock for sale, they appear to have become online junkies, ready to pounce on fresh property coming to market to see if it will satisfy their housing need. This search-addiction is in part caused by each estate agency branches currently listing an average of less than one new property per week, an all-time low and around half of pre-credit crunch levels. The market is stuck in a low transaction volume pit that will be hard to escape from without the mortgage funding to satisfy what appears to be strong pent-up demand.”
 
Less Property Already on the Market

The shortage of property has also been compounded by the fact that there were fewer properties already available for sale during the same period in 2011.  According to Rightmove, the average level of unsold stock per estate agency branch sits at 66.  This figure is the lowest recorded by Rightmove since February 2010.
Rightmove states that the 36,433 properties coming to market this month across the country means that the average will sit at less than one new listing per estate agency branch per week. This number of new instructions represents half of pre-credit crunch levels.

Why the shortage of new property?

In a Catch-22 situation, sellers are being deterred by lack of choice of property for them to trade up to, lack of confidence in the market and the lack of readily available finance. 

How Will Property Prices Be Affected?

Rightmove reported in its last House Price Index that prices will be very much dependent on local conditions, referring to “micro-markets” which would dictate price.  Where demand is high, in areas with a good school catchment area for example, the shortage of property being offered for sale will buoy up new sellers’ asking prices in those locations.
January is often the beginning of the lead-up to a traditionally busy spring period for sales.  This period often sees a slight rise in prices.  Rightmove has already collected evidence of this with an increase of 1.4% in the first week of 2012.   Rightmove cautions that this upswing is obscured within the overall monthly price fall of 0.8%. In spite of the challenging market, year-on-year asking prices remain virtually unchanged, up by a nominal 0.4%, though with RPI running at 5.2% this represents a fall in real terms.

The Mico-Market Means You Need Expert Help

Shipside explains how micro-market conditions will affect sales: “The increased market fragmentation caused by the credit crunch means that success in selling now requires a very careful and complex micro-market analysis, rather than a wishful price-punt to see what happens. There can be hotspots and blackspots by property type within the same geographic location depending on local buyer confidence, demographics and their ability to obtain a mortgage, so doing your research and taking expert advice are critical. There will be upwards price pressure where the local market is short of a type or style of stock. In these areas, getting your property onto the market soon could be to a seller’s advantage given the strong upsurge in property search activity.”

If you want to take advantage of the record numbers of people searching for property, get your property on the market now.  Start by getting some free, no obligation expert local advice from Northfields, your multi award-winning agent.  Call  Northfields now to arrange your free valuation on 0208 840 6666 or request your property valuation online by clicking the link.

Five to View: 3 Bedroom Properties for Sale in West London for Under £350,000

Whether you are looking for a family home, more space or perhaps you are looking for an investment property, here are just 5 properties available for sale through Northfields Estates, all with three bedrooms and all for under £350,00.

1. Cloister Road - £330,000 - A great investment property

 
An excellent opportunity to purchase a 3 bedroom apartment set in a cul-de-sac location close to North Acton Playing Fields. Available with no onward chain, this property, arranged over 2 floors, represents a fantastic chance to get onto the property ladder or buy to let. With this property you could achieve a rental value of £1700 pcm (£20,400/ annum). The property is within a mile of both North Acton and West Acton tube stations, making this property attractive for tenants and owner/occupiers alike..

The Property for sale: three bedroom flat

Where: Acton, W3

Click on the link to see more photos, floorplans and information on this three bedroom apartment for sale in Acton or to book your viewing online.

2. St. Paul's Close - £319,950 - Opportunity to Add Value

 
Ideally located close to Ealing Common and Ealing Broadway, this three bedroomed end of terrace family home is offered to the market in need of some updating, giving the buyer opportunity to add value to the property.The property is comprised of generous reception rooms, kitchen/breakfast room, three sizable bedrooms, shower room, a separate WC and a private garden. St Pauls Close offers a fantastic location as it is within easy access of Ealing Broadway, which offers a wide range of shops, restaurants and bars and local transport links are available nearby from Ealing Common Station (Piccadilly and District lines) and Ealing Broadway Station (National Rail, Central and Distict lines). This property is offered to the market chain free, making it an attractive buy.

The Property for sale: three bedroom house

Where: Ealing, W5

Click on the link to see more photos, floorplans and information on this three bedroom house for sale in W5 or to book your viewing online.

3. St. Andrew's Road - £339, 950 - Charming Period Cottage

 
A charming two bedroom period cottage located in this much sought after peaceful cobbled street in the heart of Olde Hanwell.  This characterful Victorian cottage offers spacious living accommodation including two reception rooms, fitted kitchen, family bathroom, two double bedrooms and further room currently being used as a bedroom. Further benefits include a pretty private rear garden. The property is ideally situated for pleasant canal side walks, plus you can enjoy the good local pub, the highly regarded St. Marks primary school catchment area, local shops and bus services, along with Boston Manor Piccadilly line station.

The Property for sale: three bedroom cottage

Where: Olde Hanwell, W7

Click on the link to see more photos, floorplans and information on this 3 bedroom period cottage for sale in W7 or to book your viewing online.

4. Valetta Road - £339,950 - In the Popular Wendell Park Area

 
A 3 bedroom garden flat located on the popular Valetta Road close to Wendell Park. Benefits include a private entrance, rear garden, kitchen with space for a dining table and a good size reception room with a bay window. This property is available with no onward chain.

The Property for sale: 3 bedroom flat

Where: Shepherd's Bush, W12

Click on the link to see more photos, floorplans and information on this three bedroom flat for sale in W12 or to book your viewing online.

5. Ellesmere Road - £299,950 - Priced to Sell

 
A three bedroom first floor conversion flat with a private balcony which benefits from light and airy accommodation and the use of a communal garden. Briefly comprising a 14ft reception room, modern shower room, fitted kitchen, 2 double bedrooms and a 3rd bedroom. Located approximately half a mile from Turnham Green and the amenities of Chiswick High Road, this is an excellent opportunity to purchase a property of good size, in a well regarded location at a price to sell..

The Property for sale: 3 bedroom conversion flat

Where: Chiswick, W4

Click on the link to see more photos, floorplans and information on this 3 bedroom flat for sale in Chiswick or to book your viewing online. 

If you are trying to beat other buyers to the best priced properties, we recommend that you call us on 0208 840 6666 to register your details so that we are sure to call you as soon as new properties become available. Often, family homes and investment properties sell more quickly than others, particularly if they are well priced, so be sure to register to avoid missing out. If you aren't able to call us to register, make sure to click the link to register online now.

First Time Buyers Expected to Be at Pre-Credit Crunch Levels in London in 2012

Rightmove released its Consumer Confidence Survey just before Christmas.  This report surveys the public and takes the temperature of would-be house buyers in a bid to guage what state the market might be in in the near future.

The latest report from Rightmove contained some dire news for the rest of London, but some extremely exciting news for Londoners.

The over-riding thrust of the Rightmove report was that "First-time buyers are to remain on the ‘endangered list’ in 2012".  Of the respondents who said that they had an intention to buy in the next 12 months only 23% fell into the first time buyer category.  This figure is down from 26% a year ago, meaning that first-time buyers will remain an endangered species in 2012. 

It is believed that for the market to thrive, 40% of all buyers should in fact be first time buyers.  These percentages keep the market moving and buoyant.

Certainly, if you were hoping to sell your first home and make your first move up the property ladder, this news would be quite unwelcome.  But here is where the figures get really interesting.

In London, the percentage of people intending to buy their first home was 41.9%.  This is slightly over the required number to keep the property market moving and far outpaces the rest of the country.

Who are the first time buyers in 2012?

The average age of those who plan to make their first property purchase was reported at 32 years of age.  However, there are many in the 35 plus age bracket who still find themselves renting without much prospect of moving on.  

A whopping 56% of the surveyed first time buyers are expecting to have a £20,000 or more deposit for a
property.

How Do You Attract a First Time Buyer?

According to Rightmove's survey 61% of would-be first-time buyers think property prices in their local area are above what they consider to be fair and reasonable.  So it stands to reason, that pricing your property competitively will make your property stand out from the crowd and will mean that you will be able to achieve a quicker sale and move on to bigger and better things.

Striking a Balance

Of course, if you are looking to sell your first home so that you can trade up, you want to strike a balance between achieving a quick sale and getting the most you can for your property.  Here's how to do it:

1.  Arm yourself with a bit of research.  What price would make your property stand out in a crowded market place?  Search property listings for properties similar to yours.  Try and think like a buyer.  Would you want to view the property listed at £249,950, below the £250K stamp duty level?  Or would you rather view the property that is £255,000?  Also remember that most property websites allow you to search for properties within a certain price range, so if you keep your price within that price range, rather than just exceeding it, you will get more hits, therefore more viewing, and more offers.

Search the properties Northfields currently has for sale to get an idea of what properties and prices you might be competing with. 

2.  Use an expert.  Not everyone sees estate agents as being your friendly local property expert, but that is exactly what they can be.  Remember that estate agents want to sell your property quickly and for the best price we can achieve ,just like you do.  However, not all agents are created equal, so make sure to choose an agent who is backed by regulatory bodies such as the Property Ombudsman and the National Association of Estate Agents (NAEA).  Agents, like Northfields, who belong to such industry organisations are voluntarily part of the membership and are expected to fulfil certain standards of professionalism which will give you more peace of mind.  Also look for award winning agents, who will have been recognised as the best in the business by property experts.  Again, Northfields is constantly striving to be the best in the business and is regularly recognised with awards.

Valuations are free from Northfields and there is no obligation, so you can take advantage of our expertise and award winning knowledge to find the right balance between a quick sale and getting the best price possible.  

Arrange your free, no obligation valuation now by calling Northfields on 0208 840 6666 or click the link to request your free property valuation online.  

Planning on Buying Property in 2012? What You Need to Know

On theBest of Ealing website, Northfields shared some tips for selling your property in 2012. Based on some predictions from property website Rightmove.co.uk, 2012 looks set to be a year of what Rightmove is calling “micro-markets”, meaning that house prices will be dependent on the very specific conditions in your local area.

Because of these micro-market conditions, sellers are advised by Rightmove to depend on the local expertise of a trusted estate agent and to be aware of the current status of the property market in their area in order to  get their property sold. 

Like sellers, buyers will need to be aware that micro-markets will mean that conditions and prices will vary widely depending on the type of property and area where their house hunt in centred.  Buyers may find that they have very little choice of properties, or an over-abundance of choice. Some properties may be listed at bargain prices while others may seem over-priced.  For example, a family house in a very sought after school catchment area may fetch a higher asking price and may also get snapped up very quickly, while other properties have to be priced just right to even attract a viewing. 

Miles Shipside, CEO if Rightmove explains the current market: “It is clear that in these turbulent times the UK housing market is made up of many fragmented micro-markets that are performing very differently. Those that are involved in buying or selling next year need to understand their local market dynamics to help them deliver the right recipe for success. That will include gauging under- or over-supply of property types, buyer demographics and mortgage profiling, unemployment concerns and exposure to public sector cuts or the likelihood of external investment”.

Housing shortage

One thing buyers may want to keep in mind that currently, the UK is experiencing a real shortage of housing.  Fewer new homes are being built, but the population keeps rising.
Of course, the government has put in plans to ease the difficulty and red tape involved in getting planning permission as well as set in motion a plan to insure lenders against loss in order to get them lending more. However, neither of these plans have really been put into effect yet and so it remains to be seen if they will be effective in kick-starting the market. 

Added to that, if the Eurozone economy worsens and causes widespread unemployment, we may see more European workers immigrating here to look for work.  This may put even more pressure on the dwindling housing supply, especially in London..

So with so much demand and very little supply Righmove is predicting that house prices may not fall.  It is estimated that newly listed houses will rise by circa 2%, although Rightmove points out that “this national average will vary in the many local micro-markets”.

Rightmove expects that “the number of properties coming to market will be marginally below the 1.24 million recorded in 2011. This anticipated decline reflects the fall-off in sellers coming to market seen by Rightmove in recent months. It means that new seller numbers will be about a third down on the pre-credit crunch levels in 2007. The shortage of new sellers in some locations, and improving investor yields on rental properties, will help underpin prices and stave off a price collapse except in exceptionally adverse market conditions.”

This advice was quite different from some expert opinions, which felt that prices may fall in 2012 and it might therefore be advisable for buyers to wait to see if prices dropped.  The question is, what if you wait and prices rise?  Or what if prices do drop, but because of the reduced liquidity in the economic market (for example, due to the possible collapse of the Eurozone), you are unable to secure a mortgage?

First Time Buyer Numbers Down

Anyone who follows the news will know about the lack of mortgage financing that is available.  Large deposits are still being required and lenders continue to lend to only the most credit worthy borrowers.  Sadly, this does leave most first time buyers locked out of the market, unless their circumstances have allowed them to amass a large enough deposit.

It is expected that this method of financing will continue into 2012, meaning that there will be few first time buyers looking for property. A recent Rightmove survey found that of those who intend to buy over the next 12 months just 23% will be purchasing for the first time.  In a normal and bustling market, first time buyers would make up 40% of the house hunting group. 

With such a low number of first time buyers actively buying, those sellers who need to sell their starter homes in order to trade up, will need to price their properties attractively to make their next move on the property ladder.  This means that first time buyers or buy-to-investors who are able to secure a mortgage will be in an advantageous position in the market.

Buy-to-let landlords will have the perfect conditions, with investment properties widely available for sale and rental properties hotly in demand and rents rising.

The Tide Could Turn

Rightmove’s admits that their predictions could be thrown off course if the Eurozone financial crisis deepens.  Should the worst happen in the EU, then mortgage conditions could become even more difficult. If that were to happen, the number of sales would likely drop slightly on the levels seen in 2011.

Rightmove’s Shipside wound up his 2012 predictions by saying that: “We have had a few years of testing the resilience of the bottom of the market, and we seem to have found a base level that represents an uneasy equilibrium between repressed buyer demand and affordability, and what sellers are willing or able to accept.

The questions is, if you need to move for work, to accommodate a growing family, to downsize or whatever your need might be, why wait to see if prices drop?  Why chance mortgage financing becoming even more difficult to get? 

Use the last two weeks of 2011 to view properties and put in an offer.  Northfields’s Managing Director, Richard Palfreeman has always bought his properties in November and December as sellers who continue to market their property at this time of year are motivated to sell and are more likely to take a competitive offer. 

Take a look at the properties Northfields currently has available for sale  by clicking the link or better yet, register your details online so that you can begin to schedule viewings right now.  If this is the time when property experts buy, what are you waiting for?   

Ask the Agent: I Want to Buy a Property With a Friend, But What Are the Pitfalls?

Housing Minister Grant Shapps wants more people to buy houses with friends.  He feels that will quick start the housing market. He wants lenders to offer 'mates mortgages', so called because young first time buyers can pool their resources and buy property together. You can read more about the Mates Mortgage idea by clicking the link.

Buying property with your mates or family members may indeed be a great way to get on the housing ladder, but it can also lead to some potential issues and problems.  Peter Bolton King, CEO of the NAEA , talks you through some of the areas you should consider before buying a house with friends in this video:

 

If you are considering buying a property with friends or family members, find out exactly how much you could borrow by seeking the free, no obligation advice of an independent mortgage broker.  Call Northfields today on 020 8840 6666 or e-mail us at sales@northfields.co.uk  and we will be happy to refer you to an independent broker who can look across the entire market and find the best "mates mortgage" for you.