Our offices are open and operating on an appointment only basis, with physical viewings and valuations taking place in line with our guidelines This is the case across both our sales and lettings department.
Please contact branch directors of individual offices directly to arrange appointments.

An update from Jackson-Stops on home moving Hide
Possible Interest Rate Rise?
Jackson-Stops Director of the Cotswolds, David Parris, looks at the effect an interest rate rise would have on the housing market. In September, Mark Carney, Governor of the Bank of England, hinted strongly that interest rates may increase when the Monetary Policy Committee meets next month. If this happens, what impact will it have on a housing market which is already full of mixed messages? To understand this, it is worth looking at some of the background. Rates last went up in 2007 so a great deal of current borrowers will not have experienced any increase in their monthly mortgage cost (which those of us who borrowed in the 1980’s and 1990’s will do so painfully!). In the last cut to 0.25% the Governor made it clear that their own lending to banks would be very dependent on the lending institutions passing on the cut to borrowers through something called the Term Funding Scheme. I don’t, however, think it is all doom and gloom for the housing market. We have a relationship with an independent firm of brokers called Private Finance which is able to access lending private banks as well as high street institutions. Their current offerings look like this (correct as of 11 October):
2 Year Tracker 0.99% £995 arrangement fee Free valuation, no penalties
2 Year Fixed 1.15% £1,499 arrangement fee Up to 75%, free valuation
Term Tracker 1.39% £999 arrangement fee Free valuation, no penalties
3 Year Fixed 1.44% £999 arrangement fee Free valuation
5 Year Fixed 1.65% £999 arrangement fee Free valuation
So borrowing money is still relatively cheap and can be secured for longer term lending; 10 year fixed rate products are not uncommon. If you require further information on any of the above products please contact any Jackson-Stops branch office and we can put you in touch with Private Finance.

 

Hope for savers

This is, of course, a complex subject and we are not economists. Interest rates are dependent on so many factors such as inflation, unemployment, and wages increases. Let us also not forget the savers who have had years of minimal income from their savings and any rate rise, if it is passed on, will be a welcome change, however small. Activity levels remain good in the market across our three Cotswolds offices. One may argue this is because of the warning signals sent out by the Bank of England but there is a feeling among our clients and registered buyers that it is business as usual. Small rate rises may actually spur on those potential buyers who have not committed to a move as yet.