Mortgage in principle within five minutes

Online property portal Zoopla has agreed a tie-up with Trussle, the online mortgage adviser, to offer house hunters a mortgage in principle within five minutes.

 

Potential buyers using Zoopla and Trussle’s service will have access to over 90 lenders and 11,000 mortgage deals to find the best match for them.

Now, home hunters can find a property, and get the green light for finance, all in the same place. Not only does this make the process of buying a home refreshingly straightforward, but improves the buyer’s negotiating position as well, which could lead to significant financial savings.”

House buyers will be required to enter a few initial details to find out in 60 seconds what they can afford to borrow and what the monthly payments would be. Once details about income, outgoings and personal circumstances are entered, house hunters will receive a Mortgage in Principle in less than five minutes.

The process is intended to give vendors and estate agents confidence that the potential buyer is serious, has their finances in order and is transaction ready, thereby giving the buyer credibility and putting them in a strong negotiating position.

With over 90% of home hunters starting their search online, it makes complete sense for Zoopla to offers its users the Trussle service and give users the chance to secure a mortgage in principle online. For first-time buyers and home movers, being able to signal to estate agents that they are transaction ready and have a mortgage in principle is an extremely powerful position to be in ahead of making an offer on a property.”

 

Thanks

 

Scott Woods

The average property in Scotland is worth 2.6% more than a year ago

 

The average property in Scotland is worth 2.6% more than a year ago, according to new research by Your Move.

The estate agent chain said prices in Scotland rose by 2.6% between May and June, meaning the average property is worth £4,300 more.

The total number of sales reached 9,265 in the month, the highest number recorded since July 2014. Strong sales figures in Glasgow helped boost this total, where activity was 18% higher than a year ago.

Compared to June 2014, house prices in Scotland have risen by 1.2%. Both Glasgow and Edinburgh saw the number of flats sold increase, these two cities now account for 45% of all Scottish flat sales. Christine Campbell, Your Move managing director in Scotland, said: “Affordability is the biggest steer to the Scottish housing market at the moment. At £200,000, the average price of a flat in Edinburgh is more than one and half times as much as the cost of the typical flat in Glasgow (which stands at £120,000).

“As a result, Glasgow has experienced the strongest jump in house purchases overall, with Q2 sales up 18% on 2014, while Edinburgh sales have seen just a 2% upswing over the same period.

Rising house prices and increased demand

Rising house prices and increased demand indicate the UK’s housing market is continuing to show signs of recovery during June, according to the latest RICS Residential Market Survey.

21% more Chartered Surveyors reported prices rose rather than fell in June, making this the strongest month for house prices since January 2010.The outlook for future prices is also strong with a net balance of 23% more respondents reporting that prices will rise rather than fall over the coming three months.

This rise in prices has mainly been fuelled by increasing numbers of prospective buyers returning to the market. Last month, a net balance of 38% more chartered surveyors reported a rise in new buyer enquiries.  RICS said in a clear sign that market confidence is gradually being restored, and that funding schemes are making a difference, demand from prospective buyers has now risen month on month since January and is currently showing its fastest rate of growth since August 2009.

 

Spring Market 2013

Housing market predicted to revive in 2013 with more than 1m to move home