Daniel Linton, Branch Manager Winkworth Borehamwood gives his tips to those looking to buy their first property.

Is now a good time to jump on the property ladder?

Although property prices may soften in the short to medium term, my advice is to jump on the ladder now, because if you wait and try to hit a lower point in the market competition will be fierce. You may also be able to negotiate down with a vendor due to strong buying position, however, this depends on how sensibly a property was priced initially.

How much can you afford?

Speak to a qualified Independent Financial Advisor (IFA) who should be able to obtain an Agreement in Principle, however, also ask the advisor what could happen if interest rates went up by 1%, 3% or even 5% – would you be able to afford your monthly mortgage payments?  Don’t overstretch yourselves.  Remember that interest rates will have to rise at some point in the future!

What to get in place?

Firstly have an Agreement in Principle from a Lender via your IFA, find out what they would need in terms of supporting evidence for your mortgage application to proceed as quickly as possible after you have found the property you would like to buy. You may find that vendors may be more flexible with price if you have the ability to move quickly.

What deposit do I need?

The days of 100% mortgages for the time being are over, so based on what we are experiencing at our branch, many first time buyers have been rushing to the next favourite option of the ‘Bank of mum and dad’. The main reason for parents helping out their offspring, is that return on investments and interest earned from money in the bank is barely negligible, unless you are prepared to take a gamble.  Bricks and mortar has always been seen as a safe, long term investment, and if the money is not doing much, then at least helping their children out is a fantastic way to get them out from under their feet at the family home!

However, there are only so many parents who can afford to help their offspring in that way. The average age of a buyer has seen a marked increase over the last 10-15 years, and the average first time buyer is now in their mid-30’s, this also coincides with a lot of children staying at the family home until their late 20’s.  This enables First Time Buyers to save as much as possible.

A buyer would need to have a minimum of 10% of the purchase price as deposit to have a fighting chance of obtaining a mortgage; however rates are still not that attractive at that level. There is a huge difference if a buyer has a 15% or more deposit.  Don’t forget to keep money aside for solicitors, surveys and possible IFA/Lenders fees.

Remember, if your first purchase is under £250,000, you will not have to pay any stamp duty at all, as this has been suspended for two years from April 2010.

For property to buy in Borehamwood, contact Winkworth Borehamwood’s Sales office on 0208 953 8899.

Geoff Morgan, franchisee of Winkworth Northampton, gives his thoughts on the local property market.

“Anyone who read the recent lead article in The Times (August 10) could be forgiven for thinking that the property market is about to collapse, and those looking to move had better stay put, unless they want to sell their home for a pittance! But wait – haven’t we been here before, and lived to tell the tale?

Many will recall when mortgage rates were just below 20%, and yet we still managed to buy and sell property. Admittedly it is harder for first time buyers, as the average cost of a house as a factor of average earnings, is now 75% up on where it was 25 years ago. However, interest rates are almost 75% lower than they were at that time.

Looking forward, the key questions centre around what is most likely to happen with prices, supply, mortgages, new builds, etc? If I knew the answers, I would be writing this from an exotic beach somewhere! What is certain is that people will still move house for a variety of reasons.

The most recent Land Registry report (July 28) shows that the national average house price is £166,072, up 8.4% from 12 months ago. On a more parochial level, the average price in Northamptonshire is £138,532 – up 8.9% on 2009.

Sales in the first four months of the year show an average of 44,114 completions, which compares favourably with a monthly average of 32,041 over the same period last year. So much for statistics, but what does all this mean for those who are currently thinking of moving? Quite simply, if you want to move house for whatever reason, there is no reason not to do so now.

You may not get as much as you had hoped for – but you will certainly pay less than you had expected. In short, if your property is correctly valued, creatively marketed, and professionally managed, you will find a buyer – and then it’s your turn to move”.

For further information on property for sale in Northampton, contact Winkworth Northampton Sales office on 01604 824854.

Winkworth Bath are selling agents for Maed House – an outstanding example of a Somerset country house built in classic farmhouse style and set in around 9 acres of land.

Once the home of a renowned early Georgian writer, Maed House has its place in local history and will appeal to buyers seeking country living in a glorious rural environment. A high quality refurbishment has been carried out, integrating a range of outstanding contemporary fittings to bath/shower rooms and kitchen. These contrast strikingly side by side with the retention of original architectural features of the house such as flagstone floors, rich timber beams and stone mullion windows.

The stunning glazed garden room provides a wonderful space for relaxing and enjoying the surrounding green environment to the full. Whilst all of the accommodation will leave its mark on any potential buyer in terms of space and quality, including a master bedroom suite, one particularly noteworthy room is the main room on the top floor; an exceptional beamed room which offers generous space as either large fifth bedroom or a home office – it confirms that this is a house of very special character and the views are excellent.

Outside, the gardens are delightful, with lawns sloping down to paddocks and the Egford brook, which has a charming wooden bridge over to a patch of land on the far bank. There is a double garage which has been rebuilt in recent years which has a room over and has ground floor storage for oil tank and plant. The property has its own private spring fed water supply which is regularly checked by Wessex Water and private drainage by septic tank and soakaway.

The paddocks will obviously appeal to those with equestrian use in mind and it is worth noting that Downlands Equestrian Centre at Warminster is only 14 miles away. There are many walks in the immediate vicinity including the Macmillan Way West which runs from Castle Cary to the North Devon coast. The market town of Frome is only half a mile away and the city of Bath and Babington House are 17 miles and 4 miles distant respectively.

Maed House is on the market for £1,250,000. Click here to download the property brochure.

Distances:

Bath City Centre approx. 17 miles

M5 (Junction 23) approx. 35 miles

London (Paddington) approx. 90 minutes from Bath Spa

For further information on Maed House, or property to buy in Bath, contact Winkworth Bath Sales office on 01225 829 000 or Winkworth Country House Department on 020 7871 0589.

A £6 million house in Heathview Gardens, Putney SW15 has been sold by Winkworth estate agents  – one of the most expensive properties ever sold in SW15.

The 8 bedroom house in Heathview Gardens is one of the very finest in Putney, comprising 7,158 square foot of accommodation over four floors.  The property offers substantial family accommodation, including an impressive dining room and main reception room, as well as a large kitchen/breakfast room opening onto a conservatory.  The bedrooms, occupying the upper floors and including a self-contained unit, all boast views of the landscaped rear garden and outdoor swimming pool.

Russell White, franchisee of Winkworth Putney, handled the sale of the property, says:

“The Putney sales market has enjoyed a strong pick-up in the first half of 2010 and we are achieving unprecedented prices, in some cases even higher than the peak of the market in 2007. The sale of Heathview Gardens demonstrates that confidence has come back to the market since turmoil of the financial markets in 2007.”

Heathview Gardens is a quiet tree lined road adjoining onto Putney Heath and is one of the most desirable in south west London. Close to hand are both Putney and Wimbledon High Street, with Putney mainline and East Putney tube station being just a short distance away.

For property to buy in Putney contact Winkworth Putney Sales office on 020 8788 9295.

Following the RICS (Royal Institute of Chartered Surveyors) published Housing Market Survey for July 2010,  Bill Jarvis, franchisee of Winkworth Romsey and Winchester, gives his take on how this survey’s results reflects his local market.

“The headline points from the survey are: supply increases but demand falls; price expectations deteriorate though the outlook for sales remains positive; only London and the North West are still seeing material price rises.

Supply

We have seen a very steady supply of new property coming onto the market in the last quarter with the same volume as the equivalent period in 2009, and there is no evidence so far as we are concerned that demand is falling, with July 2010 net sale agreed figures 13% up year on year compared to July 2009.

Those selling and buying in one transaction should have little to fear as long as supply of new property is keeping pace with demand.  Prices tend to rise if there is a shortage of property, and this will apply to both their sale and their purchase.

Prices Expectations and Sales Outlook

Vendors in our area, rightly, for many years had a very positive outlook 0 that the value of their own property will increase and outperform the national figures.  This belief was justifiably shaken a couple of years ago when prices look a dip, but now vendors’ expectations about the value of their homes are generally realistic – that prices will hold or increase but will not gallop ahead.

The important point to note from this survey, and one we are definitely seeing locally, is that sales outlook remains positive.  With good levels of new, committed buyers registering in consistent numbers, the volume of sales should remain positive.

Only London and North West still seeing material prices rises

I am not sure what a “material” price rise is, but prices have generally continued to rise in our area too.  It is also worth noting that the Winchester market has traditionally mimicked the London market a few months later, so some definite cause for optimism there unless you are a first time buyer.

In the local area it therefore seems we are as we were, with a robust housing market.  One set of figures is certainly not something to be scared of”.

For property to buy in Winchester contact Winkworth Winchester on 01962 866 777.

For property to buy in Romsey contact Winkworth Romsey on 01794 511911.

Winkworth made it on to Match of the Day – Chelsea vs West Bromwich Albion game.

Winkworth are delighted to have let this stunning, newly constructed two bedroom penthouse by award wining Dekra Ltd.  The beautifully designed penthouse in Wellington Court is located in the heart St John’s Wood, just a short walk from the tube station providing easy access to the West End and the City.

The penthouse comprises two double bedrooms with en suite shower rooms, reception room and fully fitted kitchen and also benefits from allocated parking space, direct lift access and a superb triple aspect balcony with spectacular views.  The property was on the market at £2,000 per week.

An additional two bedroom penthouse has just been released for rent, priced at £2,000 per week, and is availble for viewing. For further information on this penthouse or property to rent in St John’s Wood, contact Winkworth St John’s Wood Lettings office on 020 7586 7001.

Offered for sale through Winkworth Exeter is Cribbar – a brand new development of 14 exclusive apartments located on Headland Road, one of Newquay’s most prominent and popular locations.  Newquay is situated on one of the finest coastlines in Europe with seven miles of soft, golden sandy beaches and 11 beaches to choose from, stretching from Watergate Bay to Crantock Beach.  Cribbar occupies a premier location, overlooking two of North Cornwall’s most beautiful and popular beaches; Towan and Fistral.

The design for Cribbar combines cutting edge luxury with contemporary appeal whilst complementing the beautiful setting, with most apartments benefiting from stunning coastal views.  The development offers a range of units, from 1 and 2 bedroom apartments to 3 bedroom penthouses, all generously sized and beautifully finished, with access to private balconies or terraces.  The construction of the building incorporates a high standard of insulation and the refined heating system ensures efficient thermal performance and low operating costs.

Simon Scott-Nelson, Franchisee of Winkworth Exeter, says:

“The apartments are on the most popular and sought after road that approaches the renowned Fistral beach which holds many world champion events such as the recent ‘Boardmasters’ championship. The development is of a particularly high standard and takes in frontline views over the golf course, Fistral beach and out to sea”.

Cribbar benefits from excellent transport links – located just a short distance from the A30, the main east-west trunk road connecting Cornwall with the rest of the UK.  Recent improvements have shortened journey times from Newquay to the M5 at Exeter, and from here, all points north and east can be reached via fast motorway connections.  Newquay is also home to one of the UK’s fastest growing airports and now offers 19 summer routes with 7 carriers flying to many major UK cities and a handful of European destinations. Flights are now available from Newquay Airport to London City Airport.

The apartments are being marketed from £250,000 for a 1 bedroom, £350,000 for a 2 bedroom and the 3 bedroom penthouses start at £800,000. For further information, please contact Winkworth Exeter Sales office on 01392 422 320.

Winkworth’s Polo team secured another comprehensive victory in the final of the historic Bronze Horse Trophy at Rutland Polo Club. The victory concluded a prolific season for the team, winning three out of five tournaments during the month of July.

The final was a fitting tribute to the quality of polo in the Midlands. Both teams were determined to play the traditional open game running from goal to goal and providing a great spectacle for those present.

The first chukka saw both sides create but squander chances in front of goal due to the unusually hard ground, which provided an incredibly difficult playing surface and unreliable bounce. However in the third chukka Winkworth wrestle control of the game with three quickfire goals and continued their dominance until the end of the game to claim a fine 7  v 3-1/2 victory.

Winkworth’s team ethic really shone through during 2010, Vamos 2011!

Sunday 12th July saw the finale of five days of polo in the final of the Findlay Trophy at Rutland Polo Club.  On a sunny, bumpy pitch, the Winkworth team captained by Thomas Collie supported by Kate Holroyd, Alex Boucher and Andrew Collie overcame a strong Photons team led by Thomas’ brother Marcus.

In a match that saw the lead change throughout with both teams finely balanced, it was a sixty yard penalty during extra time that won the prize for Winkworth. This win brought to a close a very successful period of polo for the Winkworth team.