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Remember, there’s still life after lockdown!

There’s been a lot of talk of the ‘new normal’ as we settle into our sixth week of life under lockdown.

Routines have changed. Businesses have been disrupted. Plans have been put on hold. It’s safe to say circumstances certainly feel unprecedented.

But, it’s important to see COVID-19 for what it is. Temporary. Sure, we don’t know when lockdown will lift, but we do know it will lift at some point.

The property market may feel frozen, but there are still things we can do. Planning, logistics, seeking advice, preparing. All of those ‘admin tasks’ that never get crossed off your to-do list can now, finally, be tackled.

That’s why always setting life after lockdown in your sights is so important. If we allow ourselves to get bogged down in the moment-to-moment worries, we’ll stop moving altogether. This has to be avoided. After all, it’s springtime, not hibernation time.

So, what are some positives we can take from our current situation?

Well, for one thing, community spirit seems to have blossomed. People seem kinder, more neighbourly. We’ve seen some heart-warming examples of this around our local areas of Faversham, Canterbury and Whitstable. Clapping for the NHS is now a daily ritual in our streets.

Here at Foundation, we’re champions of the local area and of the local community, having supported schools throughout the area for many years now. We hope this close-knit spirit will continue when lockdown lifts. We’re also champions of local estate agencies and we are seeing the positives of being a smaller business.

As times have recently shown us, businesses have to be ready to adapt at the drop of a hat. Smaller agencies, with less overheads, more freedom to work remotely and the ability to act quickly, could fare far better than larger corporate companies.

We’re one team, with one office. We know the value of a strong team, and work together to deliver the highest standards of integrity and professionalism. A small business is a nimble business, one that can pivot far quicker than a larger company. And in this environment, those who adapt are more likely to survive!

So, we’re trying to focus on the future, the positives and keep busy. At this time, it is encouraging to imagine that we will emerge from this as a country that is kinder, more resilient and more community-minded.

We understand your moving plans may have changed recently. Although our office has closed its doors for now, we are all still operating from behind screens and phones! We know you may have worries and frustrations and are seeking advice. We’re here to help. Give us a ring on 01227 752617. And most importantly, stay safe!

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Why you should speak to a Mortgage Broker

 

The first thing to say is obvious, if you don’t speak to someone about mortgages before you start house hunting you will not know what you can and can’t afford. If you go out viewing properties without knowing what you can afford you will most likely be disappointed, you may lose out on the property of your dreams as your finance is not in place or you may be looking at something you can’t actually afford.

Estate agents and sellers would prefer potential buyers who come to view their property to know what their budget is. After all who would want people looking around their home if they don’t even know if they can afford it?

The first part of house hunting should always be to investigate your mortgage options by speaking to a broker with access to as many lenders as possible. This way you will find out exactly what you can borrow and where you can get the best rates. The maximum borrowing and the best rate may each be with different lenders, so it’s really important to discuss your goals and aims with your broker in order to find the right mortgage for you and your individual requirements.

You will often be asked, when you register with an Estate Agent, what your financial position is, cash or mortgage. If you need a mortgage the agent will likely probe to find out if you have spoken to a mortgage advisor yet, or if you have an agreement in principle (AIP) in place. These are completely valid questions, after all they don’t want to send anyone to their clients’ house without knowing their position. A buyer should be financially prepared before registering with agents and arranging viewings.

When you come to make an offer on a property having an agreement in principle in place really is essential. Imagine if there are three people all offering on a property and two do not have any evidence they can actually buy the property. Then imagine you are the vendor of the property and have the offers presented to you by your estate agent. Which would you choose?

Not only will having an agreement in principle in place and a mortgage broker on board before offering on a property put you in the best position, it will also add weight to your negotiating position. A motivated seller who knows you can do what you say you can is far more likely to engage in negotiations over the price.

It is never too early to speak to a mortgage broker and there no silly questions. Put yourself in the best position you can before you go out viewing properties and when your dream home comes onto the market it will be you collecting the keys not someone else.

You can contact Prospect Tree Mortgages on 0800 8620 840 or visit our website www.ptmortgagesltd.co.uk to request a call back.

Prospect Tree Mortgages - Your Local Mortgage Broker