Are you considering selling your house but feeling overwhelmed by the thought of selling a property with an existing mortgage? Don’t worry; you’re not alone.
The Bank of England made the decision yesterday to maintain the Base Rate at 5.25% for the second consecutive time. With this consecutive hold, many industry experts speculate that we may have reached a peak.
The property market, like a pendulum, is in a constant state of flux. In recent times, we’ve witnessed an intriguing phenomenon: the market seems to be slowing down, yet property prices continue to climb.
The best mortgage rates have continued to improve this month, with fixed rate mortgages now available below 5% for the first time since June 2023. Rightmove’s mortgage tracker, showed the lowest rate on a 5 year mortgage was 4.94%.
It’s been a week (at time of writing) since the Bank of England held the base rate, the first time since December 2021 we haven’t seen an increase.
The Scottish property market, like many others, experiences fluctuations throughout the year. These seasonal variations can significantly impact the buying and selling process, offering unique advantages to both parties involved.
When it comes to the intricate world of real estate transactions in Scotland, it’s essential to understand the roles of various professionals involved in the process.
Perhaps the most important piece of advice we can offer when it comes to working with an estate agent to sell your house is that you need to ask questions – lots and lots of questions.
In this article we’re doing our best to clarify the complex process of selling your house by breaking it down into smaller, manageable steps, and providing real examples of what our experts in Stirling and Alloa can do to help with each of these steps.
O’Malley Finance Services Ltd is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited which are authorised and regulated by the Financial Conduct Authority. O’Malley Finance Services Ltd. Registered Office: 6 Primrose Street, Alloa, Clackmannanshire, Scotland, FK10 1JG.Registered in England: SC490368.
Letting Agent Registration Number (LARN) – LARN1904027
Members of The Property Ombudsman (TPO) scheme – (www.tpos.co.uk)
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