YOUR PROPERTY GUIDE - Thornley Groves
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ISSUE NO. 110 // APRIL 2021
YOUR PROPERTY
GUIDE
START & FINISH YOUR
PROPERTY SEARCH WITH US!
COVERING MANCHESTER CITY CENTRE
& THE SURROUNDING AREAS
Jacksons Warehouse
£335,000
www.thornleygroves.co.uk
YTREPORP DERUTAEF
Prepare to be ‘Converted’ to the Lifestyle this Sublime
Apartment Offers
Set within the stunning development of Jacksons Warehouse is a truly unique opportunity to acquire a bespoke duplex
apartment finished to a luxurious specification. Thoughtfully presented throughout, the penthouse apartment offers
countless executive details and has been fully refurbished to an exacting standard.
Benefitting from water views & secure allocated parking space, the accommodation comprises; entrance hall, WC, double-
height living room with exposed brickwork & timbers, integrated kitchen, & double bedroom. To the first floor is a further
double bedroom, & stylish bathroom suite. Superbly located in the heart of the Northern Quarter, the fantastic apartment
offers immediate access to a range of popular bars, shops and restaurants, and is within a short walk to Piccadilly Train
Station.
Generation Buy; If you are a Seller or Buyer,
Maybe this Affects you!
Over the past year, we understand many people have
found it challenging to save for a 15% or 20% deposit
and take their first step on the property ladder.
However, some exciting changes are afoot.
Chancellor Rishi Sunak announced in the Spring Budget
that the government would be introducing the
Mortgage Guarantee Scheme, designed to help first-
time buyers along with existing homeowners. As stated
by the Chancellor, 'I'm announcing today a new policy
to stand behind home-buyers; a mortgage guarantee'.
Under the new scheme set to launch in April, first-time buyers and existing homeowners are eligible to purchase
homes up to the value of £600,000 with a 5% deposit. Therefore the majority of people looking to buy, will qualify for
this scheme, with data from Rightmove suggesting that 86% of properties currently for sale have an asking price of
£600,000 or less.
To encourage lenders to offer loans up to the value of 95% of the property price, the government outlined how they
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pledge to repay lenders some of their losses should buyers default on their mortgage repayments for any reason. The
scheme is a potential game-changer for many home movers due to the decrease in mortgages available with a 5%
deposit across 2020. In the North-West, the average asking price (as outlined in the map below) is £215,561 meaning
a buyer can now proceed with a purchase based on a £10,778 deposit rather than having to wait for their savings to
increase to £21,556 (10%) or £32,334 (15%).
When you also take into consideration the average house price inflation of +7.3% over the last 12 months, this
reinforces why now is an excellent time to bring your property to the market and take advantage of the heightened
demand from buyers and the low levels of properties for sale.
Some of the nation's biggest banks have cited their
involvement and are committed to the scheme, including
Santander, Lloyds, Barclays and HSBC.
And, unlike the last government-backed scheme, it's been
confirmed that the Mortgage Guarantee Scheme will be
open to all buyers, providing that the home you intend to
buy is worth no more than £600,000. The outcome from
this is that it helps both first-time buyers and people
looking to trade up the property ladder.
Under the new scheme, the usual mortgage affordability
checks will still take place. Therefore, if you are using this
scheme when purchasing a property, you will need to
prove to your lender that you can comfortably afford the
monthly repayments after essential spending is covered.
If you’re thinking about selling your property but are
uncertain due to the current climate, we would
recommend speaking to one of our independent financial
advisors who can fully qualify your affordability. With
access to preferential rates and lenders, they will be able
to offer a personalised quotation and guide you through
the selling process.
The UK is set to have the Strongest Spring
Housing Market for Home Sellers in a Decade
If you're thinking about selling your property but have uncertainties due to the current climate or are waiting for the right
market conditions, keep reading for the reassurance you need! The latest insights from Rightmove reveal a record number
of buyers enquiring about properties. The recent data suggests a 34% increase in enquiries compared to this time last year,
just before we entered the first lockdown. The increased demand is outstripping the number of homes up for sale by the
most significant margin over any period within the last ten years. Therefore, making this the best seller's market of the
decade and a great Spring period to sell.
Stats show two out of three properties currently on estate agents books are
sold subject to contract. Part fueling the exceptional growth in activity are the
incentives recently offered to the market, such as an extension to the stamp
duty holiday, the return of 5% deposits backed by the Government, and the
easing of lockdown measures.
Due to the significant increase of buyers in the market, is the timing right for
you to consider a property sale? Whether you’re searching for your forever
home, need an extra room for a home office or just a bit more outdoor space
for your children to play in, make the first step by contacting us and arranging
a valuation today!
A Selection of Available Properties on the Market!
Irwell House, Castlefield Liverpool Street, Salford Quarry, Middlewood Locks King Street, Deansgate
2 Bedrooms, 2 Bedrooms, 1 Bedroom, 1 Bedroom,
£280,000 £194,950 £180,000 £265,000
Follow us on social media for Visit our website to experience The Best Mortgage
exclusive access our latest property Rates In The Market
to our video/virtual tours!
newest listings! www.thornleygroves.co.uk
@thornleygroves
Rates as low Rates as low Rates as low Rates as low
as 1.14% as 1.14% as 1.14% as 1.19%
Talk to one of our independent
Financial Advisors to receive a
personalised quotation or get a call
back by scanning the code.
Chris Willey
Sales Manager
0161 242 1691 / 07920 588 251
chris.willey@thornleygroves.co.uk
Based on over 2,800 reviews 25 Whitworth Street West, Manchester, M1 5ND
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