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Are 95% mortgages adding more fuel to the North East market? 🔥

This entry was posted on Friday, April 30th, 2021 by Nigel Fitzakerley

Hope well, as you may have gathered from my recent posts, the North East property market is booming.  House prices are going up with the strongest market since the early 2000’s.

Adding more fuel to that fire, the government launched 95% mortgages in April, enabling people to buy a home without the need for a large deposit.

I’ve always thought the biggest issue in the North East wasn’t affordability but a lack of equity, with one fell swoop the government has solved that problem.

Unlike previous schemes, where you could get a 95% mortgage on a new build, this is aimed at ALL properties.

When the government did this in the new build sector, all developers did was up their prices by 10-20% since first time buyers had no where else to go to get on the housing ladder.

Do you think we’re going to see the same in the secondary market?

If I was a betting man we’ll see a 10%+ house price gain in the North East this year, the market is that hot already without these mortgages having an affect.

I spoke to our resident mortgage expert, Gary about this see the video below (click on picture)👇

Our aim as an agent is to help you make as much money as possible while maintaining a good and fair relationship with your tenant or buyer.

I’ve just begun rolling out, an ISA style guide for our landlords showing how much they’ve made on a capital and income basis this year, I hope they’re going to be pleasantly surprised.

If you want to join us, making money from your investments drop me an email: landlords@nguhomelettings.com or phone the office on 0191 491 0344 Option 1 today,

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