Will the New Year see rates start to rise?

Monica Bradley from Kingswood Law comments on the latest Bank of England base rate decision.

Some forecasters have recently commented that with the economy remaining extremely weak, further support in the form of up to an additional £100bn through the Monetary Policy Committee’s “Quantitative Easing” (QE) programme may be required, but this remains to be seen. Unsurprisingly the outcome of the December Monetary Policy Committee meeting witnessed no change in the Bank of England base rate and the level of new money injected into the economy remains at £275bn.

Attention remains focused on the Eurozone crisis and in particular the discussions taking place to attempt to bring about stability to the debt crisis and to put forward and agree plans to stimulate economic growth.

In spite of all of this uncertainty, activity in the UK mortgage market has remained fairly consistent, with the number of purchase and remortgage borrowers only marginally lower than the previous month but in line with seasonal factors.  We continue to see borrowers favouring fixed rate mortgages with three quarters of buyers and two thirds of remortgage customers electing to fix their payments.

Lenders continue to offer low mortgage rates with Moneyfacts reporting that in December the average two year fixed rate is 4.24%, up by only 0.02% compared to November’s average.  However, the average five year fixed rate has fallen further to 4.58% from 4.67% last month.

Significant numbers of mortgage borrowers will be coming out their tie-in period early in the New Year.  However, the Bank of England has warned that with the wholesale cost of funds rising and lenders having to offer more attractive rates to encourage saver’s deposits, mortgage rates may start to edge up a little if lenders want to maintain their margins. Potential borrowers could benefit by taking some time to talk to an independent whole of market mortgage broker.

Monica Bradley is from Kingswood Law.  For further information on how the latest base rate decision affects you, please call 020 8643 7777.

With offices in the heart of Cheam Village, within walking distance of Christies’ Cheam office, and backed by a robust administration team, you can rest assured that you will be in safe hands when Kingswood Law takes care of your finances. As such, when you are considering purchasing a new home, remortgaging or buy to let, Christies recommends using Kingswood Law to ensure you find the best deal and the one most suited to you and your circumstances. In addition, Kingswood Law offers specialist advice on protecting your home, income and family, as well as a comprehensive estate-planning service*.

If you would like further information about their services please call 020 8643 7777 or visit www.christiesworld.com and click on Financial Services.

Christies Estate Agents work in close association with Kingswood Law to offer its customers unbiased independent mortgage advice.

*Estate Planning services are provided by the Countrywide Group. Your home may be repossessed if you do not keep up repayments on your mortgage. A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £95. Your home may be repossessed if you do not keep up repayments on your mortgage.

020 8643 7777 - sales@christiesworld .com - www.christiesworld.com

Thinking of moving in 2012?

Choosing the right estate agent is often difficult and bewildering because it is so important: does one select an agent with the best local knowledge, the most experience, the finest track record, the best network across the county, a London office or the highest number of national and even international offices? 

Well Nick Churton of Christies Mayfair Group is happy to say that Mayfair Group members cover all those factors. So no one knows more about the area and its property.  But, as part of the Mayfair Group, members are able to offer a great deal more as well.  The Mayfair Group has over 300 offices across the UK operating in 47 counties. This means that sellers are assured of the very best coverage to gain the best results. 

With a central London marketing office masterminding national and international property publicity, celebrated national and international websites and 16,000 properties to choose from across the globe, buyers naturally are attracted to this cornerstone of the property world. 

So if you are thinking of selling your property in 2012 think no further than calling on a Mayfair Group member as we will be going further than anyone to sell your home. 

“Selecting the right estate agent is so important,” says Churton of our network members.  “Some people do still choose the cheapest agent or the one that promises a tempting but unrealistic and over-optimistic price.  But the cheapest option and deluded pricing are, in this day and age, reckless grounds to appoint an agent. With the economy in the state it is, now is the time for sensible, honest, reliable yet assured and innovative estate agency.  This is where we come in.  We can make sense of the market and publicise your property in such a way that you will reach the widest audience.  Our experience will play an important part in how your property is presented to maximise its effect on buyers, and our negotiating skills are honed to perfection though years of practice to ensure we attain the top price.” 

Now that the choice has been made easier why not call your local Mayfair Group member today and arrange a free, friendly and no obligation market appraisal?

020 8643 7777 - sales@christiesworld .com - www.christiesworld.com

Kingswood Law’s Monica Bradley has been providing financial advice to her clients for more than 25 years. During that time she has built up a wealth of knowledge and experience, which helps set Kingswood Law apart from its competitors in today’s ever changing & challenging economic environment. 

In a testament to her success Monica was voted Best Overall Mortgage Broker  in the country in the 2011 British Mortgage Awards.

‘With Banks and Building Societies still more cautious and still tightening their lending criteria across the board, using a Financial Adviser has never been so important. it is absolutely crucial you receive the very best advice when making such an important decision’ Monica says.

Here are a few reasons why you would benefit by using Kingswood Law:

1. Genuine Access to the Whole Market. This means you will receive the very best mortgage to suit you (i.e.- Rates, Flexibility and relevant Tax savings).

2. Kingswood Law will take dealing with the Bank out of your hands and liaise with them on your behalf.

3. Kingswood Law Lifetime Mortgage Management which will make sure you are paying the lowest rate for the whole of your mortgage term along with working with you to understand how to pay your mortgage off as soon as possible.

With offices in the heart of Cheam Village, within walking distance of Christies’ Cheam office, and backed by a robust administration team, you can rest assured that you will be in safe hands when Kingswood Law takes care of your finances. As such, when you are considering purchasing a new home, remortgaging or buy to let, Christies recommends using Kingswood Law to ensure you find the best deal and the one most suited to you and your circumstances.

In addition, Kingswood Law offers specialist advice on protecting your home, income and family, as well as a comprehensive estate-planning service.

If you would like further information about their services please call Kingswood Law on 0208 652 5240 or visit www.christiesworld.com and click on Financial Services.

Christies Estate Agents work in close association with Kingswood Law to offer its customers unbiased independent mortgage advice

*Estate Planning services are provided by the Countrywide Group. Your home may be repossessed if you do not keep up repayments on your mortgage. A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £95.

020 8643 7777 - sales@christiesworld .com - www.christiesworld.com

Investment in disguise...

We are living in an ever increasing property conscious age, with more and more homeowners seeking to make the most from their substantial investment. You only need to look at the number of television shows about property improvement to recognize that this boom in “home transformation” is here to stay. From next door neighbours, family and friends, it seems as though everyone around us is getting in on the act. Not only are people updating their kitchen and bathroom, but they are also adding substantial extensions.

So, why is it that so many people are transforming their everyday living space? A growing family is one reason, but also people have learnt it’s a great way of increasing the value of their property. However, a word of caution, you should only consider modernizing and extending your home after you have taken expert advice from a property development professional who can reliably inform you what the likely costs and returns will be.

Spending £200,000 on home improvements that only add £100,000 to the end value is clearly not an investment. For these reasons, Christies have created a one-stop Design & Build consultancy to ensure that our clients get the best advice before a major expenditure.

This advisory service is headed up by Andrew Richardson MNAEA, Christies Director, who is available to give expert and qualified advice on the likely financial rewards for any home improvement or new build. “It is essential that you know the value of your home as well as the likely costs before you extend. Our initial assessment provides these figures alongside an accurate estimation of the future market value of the property after all the proposed works have been carried out. It is only when you have this information to hand that you can make an objective financial decision on your investment,” comments Andrew.

Christies Design and Build associates have been responsible for many high quality home extensions in the area. A recent example was in Downs Side in South Cheam. The house itself, originally a small 3 bedroom detached home, was bought through Christies last year. 

After a thorough consultation progress they decided to instruct Leigh Burford to design their dream home. “The location and plot were perfect but we had to be very creative in designing the most suitable home for the family,” Leigh recalls. "We made the best use of the existing structure to minimize costs but were still able to provide the clients with a design which best suited their personal needs, tastes and budget.”

 A seamless process of planning and construction was co-ordinated by Leigh

Burford working in close harmony with construction expert Bruce Holohan of All For One Builders. The delighted family have now moved into their dream home ...all created with Christies Design & Build.

If you are considering extending and improving your home please call Andrew

Richardson at Christies on 020 8643 7777 for a free consultation without obligation.

020 8643 7777 - sales@christiesworld .com - www.christiesworld.com

Mayfair Group - Working together is what sets us apart

Nick Churton at our London Mayfair Office takes a closer look at our 450 office global network.

What is the Mayfair Group? Well, it is just about the best thing to happen to buyers and sellers of property for a very long time – a group of expert independent estate agents really working together in the interests of all home movers.

Like so many of our high streets over the past few years, estate agency has become top-heavy with corporate brands. This may be all well and good for fashion and food chains but property is a very personal and local business. People’s homes are not commodities to be traded like socks and wares. They are a person’s most valuable possession representing a huge investment both in money and emotion.

The Mayfair Group brings together the most knowledgeable and experienced independent estate agents across the UK. The partners and staff of these firms haven’t been shunted from one part of the country to another just to fill an office vacancy. Many have worked in their locality for most, if not all, of their working lives. These are people who will know and appreciate local property and what it means to buyers and sellers.

But it is not just at a local level that the Mayfair Group can help home moves. With over 300 offices across the UK – 27 offices in Surrey alone – this is one of the largest and most effective networks of estate agents in the country. There are also 150 Mayfair Group offices overseas. Linked through the powerful Mayfair Office website, www.mayfairoffice.co.uk which features some 16,000 properties, your local office can put you in touch with expert firms in other parts of the country or abroad to help those relocating for work, economic, retirement or lifestyle reasons.

What is the most effective thing we can do to help you buy or sell property? The answer is to put you in touch with the best and leading estate agent in the place you want to be - the sort of firm that you would willingly recommend to friend or family. Indeed the Mayfair Group is like a family, a family of experts in all types of property. Experts in local, regional, national and international property marketing: experts in Internet property marketing: experts even in coastal property and equestrian property. 

Working together is what sets us apart. But above all we are experts in property where you live. And that makes us the most important property experts of all.

020 8643 7777 - sales@christiesworld .com - www.christiesworld.com

Looking for some ideas for seasonal activities this Christmas?

There is so much to do this Christmas in Surrey. See the Christmas Lights, hear some carols or enjoy a panto.  Make sure you don’t miss out on all that Surrey has to offer this festive season.  Here is some information to help you plan your Christmas in Surrey.

Christmas lights switch-on events in Surrey

Residents and visitors can join together to celebrate Christmas at official Christmas Lights switch-on events throughout Surrey. View the Christmas Lights Switch On page.

Festive Activities in Surrey
Entertain the whole family with a wide variety of activities taking place in Surrey this Christmas season.

Ice Skating at Hampton Court - Find out more

Christmas Activities at Spectrum, Guildford - Find out more

Festive Fun at Sandown Park Racecourse - Find out more

Art activities and more at The Lightbox, Woking - Find out more

Polesden Lacey at Christmas - Find out more

Santa grottos - Meet Father Christmas in Surrey

Bocketts Farm, Fetcham - Find out more
Denbies, Dorking - Find out more
Chatley Heath Semaphore Tower, Ockham - Find out more
Mitchells Building, Horley - Find out more
Painshill Park, Cobham - Find out more
Rural Life Centre, Tilford - Find out more 
The Lightbox, Woking - 10th and 11th December.
The New Victoria Theatre, Woking - Find out more

Festive Markets and Shops in Surrey

Christmas Shopping is a pleasure in Surrey. Here are a selection of places to do your Christmas shopping.

1st - 18th December
Christmas Shopping at Loseley Park - Find out more

4th December
Haslemere Christmas Market: 10am – 4pm  - Find out more

Scandinavian Christmas Market, Holiday Inn Guildford -Find out more

5th December
Denbies Craft Market, Dorking - Find out more

6th December
Guildford Farmer's Christmas Market

19th December
Denbies Craft Market, Dorking - Find out more

Christmas Concerts/Carols in Surrey

Why not get into the Christmas spirit by attending a concert with music or carols this December.  Here are a selection of concerts taking place in Surrey:

3 December
Guildford Harmony - A Sparkling Christmas - Worplesdon Memorial Hall - Find out more
3 December
Guildford Symphony Orchestra - Joyeux Noel - Guildford Cathedral - Find out more

6 December
Festival of Carols, Redhill - Find out more

10 December
Music for Christmas at Hatchlands Park - Find out more
10 December
The Glory of Christmas - Guildford Philharmonic Chamber Orchestra - Holy Trintiy Church, Guildford - Find out more
10 December
The Occam Singers present An African Christmas - St Nicolas Church, Guildford - Find out more

11 December
Godalming Choral Society present Puccini & Rutter - Charterhouse,  Godalming  - Find out more
11 December
The Mayor of Guildford's Christmas Concert - Holy Trinity Church, Guildford - Find more more

17th December
Epworth Choir Family Christmas Concert - Guildford Cathedral - Find out more

19th and 20th December
Carol Concert at Clandon Park - Find out more

Guildford Cathedral and most churches hold services on Christmas Day and Christmas Eve.  It is best to check with each church for details and times for the service.  Search our Places of Worship page for further information.

Pantomimes in Surrey

Enjoy a traditional Christmas entertainment treat, the Panto, entertains young and old alike. 
Find out more in our Pantomimes in Surrey page.

Festive food in Surrey

Whether you’re planning the annual office celebration, lunch with a friend or seasonal family gathering, there’s bound to be a festive menu in Surrey which is ideal for your requirements.

Check out our Where to Eat Out section.

The following Venues are offering Party Night celebrations

Denbies, Dorking - Find out more
Gatton Manor, Dorking
Palette Bistro, Woking
Mandolay
Wotton House, Dorking
Pennyhill Park, Bagshott
Sandown Park, Esher

Don't forget about  Reindeer Racing Party Nights at Kempton Park Racecourse - Find out more 

Enjoy some fresh air

Stroll across the expansive North Downs - Surrey offers visitors some tranquil walks with absolutely stunning views.  Find out more about Surrey's countryside.

Essential Information

Over the Christmas period, there will be changes to public transport and opening times of attractions and businesses in Surrey.

Virtually everything is closed for business on Christmas Day.  Some places including banks remain closed on Boxing Day and Bank Holiday Tuesday (27th December).

With the considerable variation of opening times for attractions, it’s a good idea to check directly with the attractions before travelling.

There is no public transport on Christmas Day and a reduced service on Boxing Day and Bank Holiday Tuesday.  Why not use transportdirect to help you plan your journey.

020 8643 7777 - sales@christiesworld .com - www.christiesworld.com

Planning ahead for a New Year marketing campaign.

If you are planning to put your home on the market in the New Year, a traditional marketing starting point for many homesellers , bear in mind that when it comes to taking photographs, you will not want the main feature in your living room to be your Christmas tree!

Before you “dress the halls with boughs of holly” it is a good idea to request your chosen agent to take the internal photographs, in readiness for the New Year marketing campaign. This will ensure camera shots avoid the festive tinsel and candles, cards on the mantelpiece and presents around the tree... after all, no one wants to take everything down just for the agent!

So, if you think you might want to be on the market for the early New Year, then contact Christies and plan ahead for a successful sale. Then just sit back and enjoy your Christmas tree and all the fun of the season.

020 8643 7777 - sales@christiesworld .com - www.christiesworld.com

Be prepared this winter

We have all been enjoying some very unseasonable weather with sunny days throughout November and on into December. 

If you have the time and the inclination, why not get out into the garden and tidy up any faded flowers, trim ragged lawn edges and gather up the leaves. Tie in or support hedging if you think the snow will break the branches, clear away pots and containers and protect the roots of exposed or much loved plants, keeping them off the ground with pot stands. Clearing out all the accumulated debris from a windy autumn now will be time well spent come the spring.

It is also well worth taking a look at the front of your home. Clear out any clogged gutters before the arrival of torrential downpours. Sometimes downpipes may become clogged or even disconnected, causing rainwater to seep onto the walls, potentially causing a damp patch. It is also a good idea to check that your front path is neat and tidy.

Prepare for the forthcoming cold weather – if you own an empty property remember to either keep the heat on low or drain down the systems to prevent frost damage.

020 8643 7777 - sales@christiesworld .com - www.christiesworld.com

Over 7,500 Mortgage Deals now available

Monica Bradley is our recommended Independent Financial Adviser and Winner of the the Best Overall Broker in the country at the 2011 British Mortgage Awards. Here she looks at the evolving financial situation and the impact on the mortgage market.

Following last month’s decision by the Monetary Policy Committee to re-introduce their programme of Quantitative Easing (QE), the expectation is that we are unlikely to see further intervention until the effects of this can be assessed.

As a consequence the base rate has remained unchanged and the level of new money injected into the economy through the purchase of assets including government bonds remains at £275bn. The Eurozone crisis continues without a real resolution on the horizon and appears to be deteriorating, with Italy now the main sovereign debt concern of the markets although the proposed Greece bailout has yet to be ratified.

In spite of all of the international bad news and continued weakness in consumer confidence in the UK, the mortgage market has remained remarkably resilient. Although overall new mortgage activity in October was down by around 10% compared to September, remortgage borrower numbers have increased by almost 9%.

Mortgage product pricing remains at all time low levels in October, with Moneyfacts reporting the average 2 year fixed rate as 4.22% and the average 5 year fixed rate has reduced further to 4.73%.  This appears to have encouraged increasing numbers of remortgage borrowers to take advantage of current pricing.

October witnessed overall mortgage product numbers increasing, having reduced a little in September they returned to levels similar to August, Brokers currently have access to around 7,500 deals, over 50% more products than in the same period last year.

Monica Bradley is from Kingswood Law. For further information on how the latest base rate decision affects you, please call 020 8 643 7777.

Your home may be repossessed if you do not keep up repayments on your mortgage. A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances.  A typical fee is £95.

020 8643 7777 - sales@christiesworld .com - www.christiesworld.com

Stocking Filler

Nick Churton of our London Mayfair Office takes a look at the property market this December and suggests that this is just the time to pick up a seasonal opportunity.

December can sometimes be a bit of a non-month in the estate agency year. People seem to have a lot more things to think about than moving, and the Christmas break seems to go on for so long nowadays. The weather is often far from ideal and most people who wanted to move before Christmas made their buying decisions by the early autumn.

But that is what makes December such a good month to go house hunting. There are not so many other homebuyers about, and as it’s often quieter some sellers may be willing to listen to a sensible offer.

In years past the market used to pick up in the spring. But in more recent times it has kick-started into life in January. With the financial world still in so much disarray there is great uncertainty about what will happen in 2012. But that is what helps makes this December such a good time to be prowling the market for property.

There are plenty of very good houses and flats for sale right now with owners looking for buyers. There are some first time buyers creeping into the market - especially now that it often makes more sense to buy a property rather than rent one. This helps second and third time buyers, and with lenders slowly starting to take the choke off mortgage availability there is movement in the market when property is properly priced and attractively presented.

So instead of hitting the shops so much this December in a pre-Christmas frenzy, or getting ready for the early sale bargains, why not hit the estate agents and grab a great property. Unlike so much we buy at this time of year a property is not just for Christmas it is for life. It is surely one of the best stocking fillers we could give our families and ourselves.

020 8643 7777 - sales@christiesworld .com - www.christiesworld.com

“Was Guy Fawkes Right?”

Nick Churton from our Mayfair Office Group Network looks at some explosive ways to keep the market moving this autumn.

Was Guy Fawkes? Maybe… up to a point.  The bit about assassinating the sovereign was certainly a step too far, as he found to his cost, but sometimes it does seem that parliament needs a rocket under it, metaphorically speaking.

Now is one of those times.  We need to see workable ideas from both sides of the House that  will help kick-start the property market and get it moving again after being becalmed for four long years.  We really do not want to spend a fifth or sixth year in the doldrums.  It is no good for the country and no good for us, or for future generations.

We also need policies that will drive more social housing and more buy/rent schemes through housing associations.  We need a compassionate view of housing and an enlightened approach to maximising Brownfield opportunities while protecting, wherever possible, our precious green fields.

Another idea could be to reduce stamp duty.  In its current form house buyers are paying a great deal of money to the Exchequer just for the privilege of moving.  This is in addition to the 20% VAT received from almost everything connected with moving home.  With housing transactions now 50% below the norm, reducing stamp duty could give the market a real shot in the arm and should benefit all - including the government. 

So we hope this year as we remember, remember the 5^th of November that the political parties feel the heat of fatigued would-be home-makers and house buyers. It is time to put a bomb under the banks and lenders so that they start being more realistic with mortgages and lending criteria.

In short, we can well do without gunpowder and treason but we do need a good plot to keep the property market moving.

020 8643 7777 - sales@christiesworld .com - www.christiesworld.com

Christies House Price Index

The latest Christies House Price Index, using the most up to date reliable data from the Land Registry, confirms that property in the local area continues to represent an outstanding investment.

Medium and long term gains are exceptional. Based on past performance anyone looking to buy a property in the coming months will be very encouraged to see that prices have risen by 52% over the previous ten years and by an astonishing 193% over the previous 15 years.

What is perhaps even more impressive is that in spite of the down turn in the property market since 2007/2008 prices are still 4% higher than they were 5 years ago.

The comparison is based on the average price of all local properties sold including flats, maisonettes, all types of houses and bungalows. Figures for November & December are not yet available - the Index will be revised as soon as the data is released so please check this page regularly for any updates.

Date............Average Price.........Average Price Oct 2011.......YEARS............INCREASE

Oct-96..............£82,512..........................£241,892...........................15.....................193%

Oct-01............£159,315..........................£241,892...........................10.......................52%

Oct-06............£232,713..........................£241,892............................5.........................4%

Over the years, and particularly in recent times, demand for properties in Cheam and the nearby areas, such as Sutton, Ewell, Epsom, Banstead and Kingswood, has increased dramatically. Much of this demand is due to the location of the properties we sell, which are ideally situated on the fringes of London, bordering rural Surrey greenbelt countryside with picture postcard villages and market towns full of rich heritage and character.

Buyers flood into the area to take advantage of a wide range of leisure and shopping amenities. The local schools are nationally renowned and attract large numbers of enquiries, ensuring that property sale levels and prices have remained well above quoted national averages.

Cheam Village has a flourishing local community with many popular cafés, restaurants and varied independent shops and businesses; this, coupled with many high street names, creates an enviable mix of retail and food outlets. Combined with excellent road and rail links, demand for property remains constant and represents an exceptional investment.

Christies have an unparalleled understanding of the area and are dedicated to ensuring customers are always informed – not just on the property market and prices ,but also the area and amenities. When looking at buying a new home, we believe it is imperative that our purchasers are fully informed about all aspects of the potential move.

Your estate agent should be able to answer any of your questions regarding this. We are proud to represent this area and convey that passion to anyone looking to move here.

Please contact either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving.

Please contact either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.

www.christiesworld.com