Should the buyer beware, asks Emon Ahmed, CEO of Stirling Ackroyd.
Whether you are thinking about selling or buying a property, or you are looking for mortgage advice and you have questions about how to proceed in the present climate, the experts at Stirling Ackroyd Legal will be able to help you.
The UK is still undecided about how Brexit will proceed and, in the present climate, it is difficult to predict what the overall effect on the UK property market will be.
At the moment, the so-called ‘divorce deal’ between the UK and the EU has yet to be finalised, so the ever-debated process of Brexit is still very much a work in progress.
The nationwide climate of uncertainty brought about by Brexit has the potential to affect many sectors of the UK economy, and of course the property market is no exception.
At Stirling Ackroyd Legal, our specialist team of property experts will be able to answer any queries you may have and provide sound advice, whatever your situation may be.
Property prices in London have continued to fall during 2018, with the interest rate and mortgage rates remaining low for the time being. According to the Office for National Statistics, although average UK-wide house prices have increased this year up to September by 3.5%, over the last two years there has actually been a slowdown in growth. The smallest rate of annual growth was recorded in London, which has seen a fall of 0.3% during the year. However this has not affected the growth of our property sector at Stirling Ackroyd Legal. We are seeing instruction increases of over 30% year on year, largely down to the ‘above and beyond’ service provided to each client.
Whilst there has been a downturn in the property market overall, Stirling Ackroyd have seen unprecedented growth in the number of mortgage advisors and estate agents using the firm. We will continue to offer clients the best advice for their own individual circumstances, taking into account all of the market conditions in order to achieve the right outcome for you. For example, first-time buyers might consider making their purchase now whilst property prices are lower, in order to achieve greater investment potential. If you have a property to sell, the present conditions may not necessarily represent a disadvantage, because if other would-be sellers in your area are holding back as they wait for the market to pick up, you may be on the way to a quicker sale. When it comes to mortgages, surveys, insurance and removals, we can help you to find the best option for you; in fact, whatever your situation, you can always count on us to provide clear, practical advice on the next step.
Rest assured that the capital remains a fast-moving property market, despite the ongoing political backdrop. Regeneration projects in central London and beyond are ongoing and new developments continue. As the market keeps on moving, so do the Brexit negotiations, and it is worth keeping in mind that once a deal is finally agreed, elements of the uncertainty in all sectors will be removed, because as a nation we will know that we are definitely leaving and exactly how this will happen. Markets may fluctuate, but you can always rely on the team at Stirling Ackroyd Legal.
If you are a mortgage broker or estate agent wanting to forge a long term credible relationship with a law firm that is able to work with 99% of mortgage lenders out there or if you would simply like a no obligation free conveyancing quote, call our partner relations team on 0203 058 3365.