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Buy, Buy Spring

Though it’s hard to believe as we battle through gridlock caused by a light dusting of the wrong type of snow, spring really is just around the corner.

And with its arrival comes one of the most important times for both sellers and purchasers of property. For sellers, spring is traditionally the time to make a trip to the local recycling facility after a clear out of the junk room, sorry, ‘ideal nursery for a growing family’, finally put those shelves up that have been sitting in the hallway since the summer and cSpring Springall in the carpet cleaning specialist to rectify the damage caused by the ad hoc New Year’s eve party.

First time buyers have just as many hurdles to clear, from deciphering estate agent speak, for example ‘In need of modernisation’ (better have an extra £50K handy) to the more creative, ‘Deceptively spacious’ (furniture removed to make it look bigger), as well as the tricky issue of raising the deposit ….. ahh the deposit.

Sometimes it may feel that it would be cheaper to donate a kidney than to scrimp and save for years in the seemingly never ending race to keep pace with property prices. But if you are getting the feeling that it’s time to leave the nest (tell tale signs are details of properties mysteriously being pushed under your bedroom door), but the sums just don’t add up, there is hope.

Mortgage lenders are responding in ever increasing innovative ways to help families work together, utilising property and saving assets in order to help not only first time buyers, but increasingly with other intergenerational financial planning, such as equity release, care provision, school and university fees.

Just some of the many ways the mortgage market is responding to what the customer needs in new and increasingly complex financial world.

Author: Alistair Nimmo

         

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