Evaluating Your Mortgage Options

At Benwell Daykin, we try to make our monthly posts to you as knowledgeable as possible, and try to keep them positive, so we apologise for this post about mortgage rates in advance writes Ricky Benwell. August has seen the Bank of England interest rate increase to 1.75 percent. This is the sixth this calendar year and is another attempt by the Bank of England to tackle inflation, with figures expected to potentially reach double digits by the end of the year! As of June 2022, the rate of inflation rose…

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Housing Slowdown Signs After Record June High

The average UK house price hit a new record high in June but there are “tentative signs of a slowdown”, according to an index writes Nick Aston of Ruddington’s Benwell Daykin Estate & Letting Agents. The Guardian newspaper has reported that the growth of UK house prices slowed this month, an index shows, as the weakening economy, cost of living squeeze, and rising interest rates cooled the market Prices were up by 10.7% in June, slowing from 11.2% in May, Nationwide Building Society said. Prices rose by 0.3% in June, a notable slowdown on…

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Benwell Daykin’s Housing Market Update

The BBC recently reported that the average UK house price hit a fresh record in April but that growth is set to slow this year as inflation and interest rates rise, writes Nick Aston of Ruddington’s Benwell Daykin Estate & Letting Agents. The Halifax said house prices rose 1.1% in April compared with March. While it said prices had grown for 10 months in a row – the longest run since 2016 – it said “the headwinds facing the wider economy cannot be ignored.” Hikes in the cost of living and higher interest rates will squeeze…

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Buy To Let Investments

The Times newspaper had an article recently asking the question:  “Should I Invest in a Buy To Let Property in 2022?” They confidently replied with a resounding YES! …says Benwell Daykin. Two Nottingham postcodes occupied spaces one and two on their highest average yield locations in England, with NG7 giving 11.3% and NG1 giving 11.1% on average. Meanwhile, the same newspaper reports that banks are doing all they can to attract landlords in 2022 by offering low interest rates on buy-to-let mortgages (Mortgage Works, Nationwide’s buy-to-let arm, has a two-year…

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‘Ruddy Kind Acts’ Initiative Launches

For the past few Christmases, residents of Ruddington have benefitted from ‘Random Acts of Kindness’ – where a mystery benefactor and his helpers have posted hundreds of envelopes marked ‘R.A.K’, each containing £100 in cash to lucky local recipients in our village, Clifton and Silverdale. Some villagers even had a wad of money thrust at them whilst walking down the street! After the identity of the generous individual behind it was finally revealed in December 2021, it inspired creatives from the ‘Handmade in Rudd’ group to launch their own community initiative – dubbed ‘Ruddy Kind…

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Happy New Year from Team Benwell Daykin

The last twelve months have seen unprecedented times for many of us – and estate agents are no different says Benwell Daykin. This year has seen the property market flourish like never before. A continued increase in house prices and demand far outstripping that of supply are considered to be the main reasons for the continued robust price growth. Average UK house prices defied expectations and continued to climb over the last few months despite the phasing out of the government’s stamp duty holiday at the end of September. Nationwide,…

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How to Make Your Property More Appealing

If you’ve got your house up for sale, a Ruddington estate agent has revealed some top tips to help impress prospective purchasers. Benwell Daykin strive to give your home maximum market exposure and get potential buyers to view your property. They do this through a proactive marketing strategy, tailored to your property, which may include: Digital viewings Virtual tours 3D Floor plans Professionally enhanced photographs Extensive database of potential buyers But what can YOU as the property owner do? Here are a few tips from Senior Valuer Nick Aston to…

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House Prices Increase by the Most Since 2007

Mortgage lender Halifax has reported this week that house prices in the UK rose by the most in almost 15 years during September. This came as the stamp-duty holiday came to an end – and the Halifax predicts that prices will continue to climb to new record high levels. Prices rose by 1.7% from August, the biggest monthly increase since February 2007. In annual terms, house price growth also accelerated to 7.4% from 7.2% in August having slowed in each of the previous three months. The housing market in the…

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Update to Stamp Duty Thresholds

Reduced ‘stamp duty’ rates on residential properties from the 1st July will be an added bonus to so many prospective home buyers says Benwell Daykin. It means that if you buy a residential property between July 1st 2021 and September 30th 2021, you start to pay Stamp Duty Land Tax on the amount you pay above the threshold of £250,000. From October 1st 2021 the zero rate band will return to the standard amount of £125,000. The rates from the October 1st 2021 are: Up to £125,000 – Nil The next…

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Would You Like to Sell Your Own House?

Well now you CAN – in partnership with Ruddington’s own Benwell Daykin Estate Agents. The vast majority of home buyers these days place their enquiries via one of the major property portals such as Rightmove, Zoopla and On the Market. As a private individual you are unable to list your property for sale directly with one of the property portals and, as such, until now you’ve had to appoint an estate agent to do so. But no longer! Senior valuer, Nick Aston explains: “With our new property marketing service, we will…

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