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Top Tips on how to Sell Your Home Quickly in Cardiff

Moving home mortgage advice in Cardiff

Whilst moving home may seem straightforward, you also have to remember that you have to sell your home at the same time. Moving and selling at the same time can be stressful, and sometimes it can feel like all you want to do is quickly sell your home.

So how can you do it? How can you quickly get your house on and off the market and sell it for the price that you want to? Here are some tips that could maybe help you sell your home quickly:

Top tips for selling your home & moving in Cardiff

1. Realistic asking prices

There’s always a magic number when it comes to choosing what price you should put your property on the market; it can sometimes be hard to find, but once you do, you’ll know right away. Getting the perfect balance between what you want for it and what a buyer is willing to pay is what you need to try and get to.

To get this number, it’s likely that you’ll need to get your property surveyed. Your estate agent will suggest the highest potential sale price, however, just because it’s a suggestion, doesn’t mean that it’s the right thing to do.

As a mortgage broker in Cardiff, we would recommend using sites like Zoopla and Rightmove. These sites can be used to compare houses that are similar to yours. For example, you could compare their prices to what your estate agent suggested you could list yours at. Once you have a feel of what other people are doing, it may be time to set a price. You’ll know right away whether you’ve set the right price or not, as you’ll start receiving property viewings right away.

If your property receives no initial interest, then it may be time to reevaluate your asking price. Even though you’ve done your research and you want a certain amount, if no one is interested in your property and you want a quick sale, you’ll have to lower your starting price.

2. Perception of your home

Thinking of how your home looks in another person’s shoes can be difficult, but we definitely suggest that you try it.

Think about how your house looks from the outside and the inside. What is the first thing that they will see when they walk up to your house? What’s the first thing they’ll see when they walk into your house? It’s likely that the way that you view your house will be the same way that everyone else does.

3. Cleaning the house, inside and out

Linking to the last point, before you invite people into your home, the first thing that they’ll see is the front garden and the exterior of the property. With this in mind, it may be a good idea to make your front garden presentable and tidy to welcome house viewers into the property. This could be from replanting flowers to jet washing the drive and cleaning your windows – every little helps.

Cleaning the inside of the property is a must when it comes to selling your home. You want to show people that you look after the house and have kept everything in shape in your time living there. Make sure that clean all throughout the property, in particular, the kitchen and the bathroom.

We also recommend that you remove clutter and obstructions that will avoid people walking around the house easily. The last thing you walk during a house viewing is for your guests to be squeezing through doorways and steeping over clutter.

It’s also not a bad idea to make things look coordinated, e.g. towels in order. Little things like this can often catch people’s eye, again referring to the fact that you look after the property.

4. Ensuring the viewer feels comfortable

Every guest should feel relaxed and welcomed as soon as they enter your home. You want them to get the feeling that the property could be their new home. It can be difficult for it not to happen, however, having pets or children around during a house viewing could potentially put off buyers.

On the other hand, a great way to send out a message that this is a ‘family home’ would be to have children around and pictures up on the wall of your family. Believe it or not, having family pictures up around your home can make the viewer feel welcome and comfortable. This will especially help if the person viewing the house has a family or is planning to start one.

Sometimes, it can also be a good idea to let your guests view the property themselves. You could let them have a wander around on their own if it’s appropriate. In some cases, we’ve also seen people leave the house or go for a walk so that your guests can have time to explore the house without it being too crowded.

Here are some other simple ways to make your guests feel more comfortable:

  • Make sure that your home is well-lit. Make sure that curtains and blinds are open to allow sun light into rooms. You can also make sure that darker rooms have their lights turned on.
  • Spraying rooms with air freshener could make your guest feel more welcome. People associate air freshener with clean houses; doing this in every room will make your guest aware that you take care of your home form top to bottom!
  • Sometimes it can be nice to have empty shelves and plain walls so that the viewer can resonate with their potential future home. They may already be thinking of decorations in their head once they see this.
  • Last but not least, as a mortgage broker in Cardiff, we always recommend that you give them as much time as they need. Some may want more than an hour, some may want less. To allow time for you guest, make sure that you don’t rush them and let them know that they can take as much time as they want.

5. Making your back garden presentable

The back garden is usually the last stop of the house viewing, therefore you want to make it as presentable as you can.

This means replanting flowers, tidying hedges and trees, running the lawnmower over the grass, painting your fences, etc. Anything that makes your garden look relaxing and welcoming could positively boost their overall opinion of your house.

We also advise that you don’t just put clutter and rubbish inside of your garage because it’s likely that your house viewers could ask to see inside of it to see what sort of space there is in it. The last thing that they’ll want to see is a garage full of random things that you’ve tried to hide away.

Summary

In summary, make your home feel welcoming, make the person viewing the house comfortable and try to think “what would I think if I were in their shoes?”. A potential buyer may become a guaranteed buyer if they are pleased with your home!

Minor damages and repairs may need to be carried out on the property, however, we do advise that you get this arranged prior to putting the house on the market. If you’re moving home in Cardiff, you’ll know what to look for in a new home, so apply it yours too.

For moving home advice, speak to a moving home mortgage advisor in Cardiff today. Our team are highly experienced when it comes to helping people move home – we’ve been doing it for 20 years!

Get in touch for a free moving home consultation today.

Budget 2021 Mortgage Market Overview

The March 2021 Budget provided lots of positives to take in; the mortgage market was particularly blessed with great news. Chancellor Rishi Sunak introduced a new government led scheme called the “Mortgage Guarantee Scheme” and also annoced that the Stamp Duty Holiday will be extended to an even later date.

The UK’s mortgage market needed a boost like this. The government clealry see the mortgage market playing a vital part in the plan to get the UK’s economy back on track.

95% Mortgages Returning & Stamp Duty Holiday Extended | Budget 2021

95% mortgages are coming back!

During late last year in October 2020, 90% mortgages made their way back into the forefront of the mortgage market, but there were still no signs of 95% mortgages returning. It looked like there was no end in sight, not until the recent Budget anyway…

In the recent 2021 Budget, we saw that 95% mortgages were going to be coming back sooner than we expected. Sunak announced a new way for First Time Buyers and Home Movers to get themselves up the property ladder, this was introduced as the “Mortgage Guarantee Scheme”. This name, however, is a bit misleading as you are never guaranteed a mortgage. Lenders will take lots of different things into account before accepting your mortgage application, they ill assess your credit score, make sure that you’ll be able to meet your monthly payments and various other things. Lenders won’t lend to someone who carries a risk of their home being repossessed, although repossession is the last resort, lenders will never risk it just in case.

Lenders have recently been worried about the idea of home values decreasing, so this new scheme should alleviate that concern although of course, the chances of negative equity occurring will naturally reduce should property prices increase as a result of these announcements.

Sunak included that both First Time Buyers and Home Movers will be able to take advantage of this scheme. It can also be used on any property too, not just new builds.

This new scheme will be available from April 2021 and will run until December 2022. We also learnt that many credible lenders are already backing the scheme.

As a Mortgage Broker in Cardiff, this news comes to us with nothing but positivity. We can only go upwards from here!

Stamp duty holiday extension

In the Budget, we also learnt that the stamp duty holiday has been extended until 30th June 2021.

When the stamp duty holiday was extended last year, we were all in the mindset of “it’s just a phase”, but we quickly learnt that things were going to take a while to change back to how they were. When the stamp duty holiday was introduced, people gained a bit more confidence in the market and it made people continue through with their purchases. We are hoping that this further extension, makes people do the same and continue with their purchase, even despite the current circumstances. The stamp duty holiday and the 95% mortgage scheme go hand in hand, we are hoping for the confidence amongst homebuyers in the UK to come back.

The stamp duty holiday has been extended, which means that property purchases up to £500,000 will remain tax-free until 30th June 2021 and those up to £250,000 will stay tax-free until September 30th 2021.

Current stamp duty rates

  • Property value < £500,000 – no stamp duty costs
  • Property value £500,001 – £925,000 – 5% of the property purchase price
  • Property value £925,001 – £1,500,000 – 10% of the property purchase price
  • Property value > £1,500,000 – 12% of the property purchase price

If this news is music to your ears and you are thinking that it’s time to look at Moving Home in Cardiff, it may also be time to start weighing up your mortgage options. You can always evaluate your mortgage options by approaching a Mortgage Broker in Cardiff, they will talk you through the entire process step-by-step. We are just one call away and would love to help you with this.

Mortgage market update

Now that the mortgage market is looking more and more positive each week, it may be time to start getting mortgage ready. With 95% mortgages on the horizon, you may be able to bag yourself a great mortgage offer within weeks of your initial enquiry. Now that the stamp duty holiday has also been extended, you should hopefully expect to pay fewer fees upon your completion.

Furthermore, lenders are still dealing with a lot of applications and have quite a backlog of mortgage applications to process and mortgage appointments to book. So if your nat to take advantage of the new 95% mortgage scheme and the stamp duty holiday extension, you should contact our Mortgage Broker in Cardiff and we will put you straight through to a Mortgage Advisor. Our responsive team will always be available for a chat from 8am-10pm, 7 days a week.

This will be very useful to you if you are a First Time Buyer in Cardiff, we can help you compare deals and check whether you match the scheme or not. For your free mortgage consultation, get in touch with our expert Mortgage Broker in Cardiff today. We can’t wait to try and help you!

Two Generations Working Together

Meet our new Mortgage Advisor in Cardiff

Meet Joe, our newest addition to the Cardiffmoneyman team. He’s starting as a Mortgage Advisor in Cardiff, he can’t wait!

Joe is the sun of the 40-year mortgage veteran Mortgage Advisor Wayne Dewsbury. If you know Wayne, you will know that he is a great advisor and we are very proud to have him as one of our own. We are sure that Joe will follow in his fathers footsteps.

Joe had previously worked in a high street bank for 3 years before he decided to take the jump to the Mortgage Advisor role. He is looking forward to getting involved and becoming a member or the moneyman team.

Mortgage Advisors in Cardiff

Wayne never thought he’d end up working with his son, but here he is on their first day working together. As you can tell, Joe is happier to be working with his dad than he is!

Product Transfer & Remortgage Advice in Cardiff

What is a Remortgage?

A Remortgage is when a mortgage deal comes to an end and you have to either renew your deal or switch onto another one. If you are approaching the end of your mortgage term and you need a new deal to switch onto, perhaps it’s time to get Remortgage Advice in Cardiff.

If you leave a Remortgage too late, you could find yourself dipping straight onto your lenders’ standard variable rate (SVR). A lenders’ variable rate will always be a higher rate than your current fixed-rated, so make sure that you know when your deal is coming to it’s end and it’s time to remortgage.

Why Should I Remortgage UK | MoneymanTV

What should I do when it’s time to Remortgage?

When it’s time to remortgage, you should consider all of your available options:

  • You could stick with your lenders’ SVR if you don’t want the hassle and are happy with the rate.
  • Maybe you want to renew your current deal and continue at your usual rate
  • You could shop around for different deals to see whether you can access a better rate or not (also known as a product transfer/switch).

Lenders’ Standard Variable Rate

More often than not, your lenders’ standard variable rate will have a greater interest rate than most of their fixed-rate mortgage deals. If you want to save the hassle of searching for another deal or are more than happy to match their payments, this could be an easy option for you. It depends on your lenders’ standard variable rate.

As a Mortgage Broker in Cardiff, we must inform you that in the majority of cases, applicants who are on their lenders’ SVR are able to access much better rates.

The only real positive to being on your lenders’ standard variable rate is that you are not tied into any particular mortgage deal, therefore you can shop around and look elsewhere for other mortgage options whenever you want to. You can’t do this whilst linked with a fixed-rate product. You are essentially overpaying for freedom.

Renew your current deal

If you were happy with your mortgage payments, you may be able to renew your current deal. Your lender will know that you are coming to the end of your deal, however, they may not tell you. It’s your job to know when it’s coming to an end and you must get in touch with them if you want to discuss teh possibility of renewing your deal.

When a deal suits your circumstances, we know that there is rarely a reason to swap products. The only time it really happens is when someone can get the same product from another lender for slightly cheaper.

Shop elsewhere

In our opinion, this is your best option if you are looking at Remortgaging in Cardiff. Most of the time, there’s a better deal out there that’s available for you, it’s just the case of finding it. Remember that you are under no obligation to stay with your current lender, so when we say to “shop around”, you can look anywhere.

Lenders will never reward you for your loyalty, they are more likely to offer better rates to First Time Buyers in Essex. No matter how long your term was, they will never offer you discounted rates or products.

When you are looking for external deals, you have to be careful where you look. For example, if you choose to switch everything over online, you need to make sure that you pick a deal that is right for you. If you end up with the wrong deal, you will have to deal with consequences as you chose not to take Mortgage Advice in Cardiff and did everything yourself. If this results in you paying more than your previous rate, you can’t do anything about it, you will still have to pay.

There are ways to get out of a wrong deal, however, they include high fees and a lot of trouble. If you take Mortgage Advice in Cardiff you will avoid all risks of getting it wrong, as a Mortgage Broker like ourselves aim to get it right the first time!

Remortgage completion

Once you have chosen your Remortgage route and have a new/the same deal in place, you are free to continue as you were prior to remortgaging. You will continue paying your mortgage payments as usual.

Hopefully, you managed to get a competitive rate out of your remortgage and are happy with the product that you now have. Until your term is over, you don’t have to worry about remortgaging for a while now. On the other hand, if your personal or financial circumstances change in Cardiff, you should know that you can remortgage again if you need too. If your situation has changed, your lender will take it into consideration and may be able to work something out for you.

If your situation is complicated, approaching a Specialist Mortgage Advisor in Cardiff could your best option. You can also Remortgage for home improvements and to raise capital, so don’t hesitate to get in touch if you need help with this.

Getting Prepared for Your Mortgage in Cardiff

Mortgage Advice in Cardiff

Once you have saved for your deposit and you have enough money for a mortgage, it’s time to get prepared for your mortgage application. There are lots of different things that you will need to provide alongside your mortgage application, so we thought that we would give you a handy list so that you know what you need:

Document Checklist in Cardiff

Up to date credit report

This item should be at the very top of your list; ideally, it would be handy if you can obtain this before you approach your Mortgage Broker in Cardiff. Your credit report will show you how your credit score is looking, which is what lenders will use to determine whether you’ll be accepted for a mortgage.

They are going to look at everything on your credit file, this will allow them to match you up with a lender that will be best suited to you. If your credit score is low you may need to look at a way to improve your credit score, for example, getting yourself on the voter’s roll seems to really help in terms of your credits score.

Proof of ID

ID Icon

In terms of proving that you are, who you say you are, you will need to provide some in date photographic ID. Most of our customers use a driving license or passport for this part of the process.

However, you can’t use driving licence for ID though if you are also using it for proof of address. If you are a non-UK national working over here on a Visa, you’ll need to produce that too.

Proof of address

Home Icon

In addition to your ID, you’ll have to prove where you live. As mentioned above, you can’t use your driving licence or passport if you are already using them for your proof of ID.

We usually advise people to use a utility bill or an original bank statement dated within the last 3 months.

Last 3 months’ bank statements

Document Icon

Your bank statements are needed to evidence your income and regular expenditures. When your lender analyses your bank statements, they are going to look for a variety of different things. For example, if a lender notices gambling transactions on your statements, they may not be so happy, it depends how often you gamble. They will also look at whether you stick to your agreed overdraft limit and if your direct debits bounce regularly. They need to be confident that you are going to be able to meet your monthly mortgage payments.

The Bank Statements you need to produce tend to be the ones where your salary goes in and your bills go out.

Evidence of your deposit

Deposit Icon

You will need to prove where your deposit has come from and show that you have the correct amount needed. This is all for anti-money laundering purposes; your lender will need to be certain on everything. I always think it’s best not to move monies around your various accounts too much. If you do, it will make evidencing the audit trail more difficult. Lenders also like to see that you’ve saved up for the deposit, so be careful on transferring large sums of money close to your application.

It’s not unusual for a portion of or the whole of the deposit to be covered by a gifted deposit from a family member or friend. These funds will also need to be evidenced and the person who has gifted you the deposit will need to sign a letter to confirm that it was a gift and not a loan.

Proof of income

Payslip Icon

In terms of affordability, the most important thing that you will need to evidence is your income. If you are employed this tends to be through your last 3 months’ payslips and some may even want your most recent P60. Lenders can consider regular overtime, commission, shift allowance and bonus. If you are lucky, your lender may accept earnings from more than one employer. This situation comes around when the applicant has a part-time job or is Self Employed.

Many of our customers in Cardiff are Self Employed. If this is you, then you’ll need your Accountants’ help to request your last 2 or 3 years’ proof of earnings from the Revenue. If you submit your own Accounts’ please contact us and we will advise you what to download from the Government Gateway.

Budget planner

As an experienced Mortgage Broker in Cardiff, we always advise that you do your homework and write down an estimate of your anticipated outgoings after you move to a new house. You can then work out a rough idea of how much your council tax and utility bills will be plus your regular expenditures such as food and drink. You will then be able to demonstrate how much disposable income you have available to pay your mortgage from.

Before we carry out an appointment with you we can send you our version of a Budget Planner to help you with this.

As you can see from the above, preparing for a mortgage isn’t easy. Think of it like the “Tortoise and the Hare” – if you want your application to run like clockwork, you’ll need to put the time aside to get everything together. You’ll get there much quicker if you put in the work at the outset!

Agreement in Principle and Soft Credit Searches

Mortgage Advice in Cardiff

What is an Agreement in Principle? | MoneymanTV

Once you pass your lenders credit score and have qualified for a mortgage, you will receive an agreement in principle or more commonly known as an AIP. With an AIP in place, you are able to make an offer on a property. They will also come in handy for asking price negotiations, as the seller now knows that you are serious and ready to start the home buying process.

How does your AIP affect your credit score?

There are two main ways that a lender will access your credit score, the type they choose is entirely up to them. They will factor in lots of different things, this includes reliability, your deposit size, etc.

The two ways a lender can assess credit score are through a soft credit search and a hard credit search.

Soft credit search

Soft credit searches are a lot more common these days, they are much easier for lenders to carry out. They are easier to carry out because they need less information out of it. If lenders perform a soft credit search on your file, it also won’t damage your score, it will leave it unaffected.

Whilst your financial institution will gain less information about you by choosing a soft credit search over a hard credit search, an agreement in principle from one of these lenders is usually still an extremely strong signal that your full application will be accepted.

Hard credit search

Hard credit searches go much more in-depth than soft credit searches. The main difference between the two is that hard credit searches can affect your credit score. Anyone who looks at your file in the future will be able to see that you had a hard credit search performed on you.

This won’t really affect you if your credit score is high. If your score is lower and you have more than one hard search on your file, it could look like you are trying to apply for lots of credit at the same time.

Does an AIP guarantee a mortgage a Cardiff

You will never be guaranteed a mortgage, however, securing an AIP will definitely help. Once you have provided your lender with all of your documents, an underwriter will make a final decision. An AIP usually includes a small print that can easily be missed. When customers reach out for help about their agreement in principle, in some cases we find they’ve been turned away at full mortgage application stage.

The documents required include ID, payslips, bank statements, etc. As your expert Mortgage Broker in Cardiff, we take pride in helping you get all of this ready.

Is my AIP a necessity when making an offer?

If you are lucky you can just about get away with it, however, most estate agents will want you to provide evidence that you are able to proceed with the purchase.

How long will my AIP last for?

Normally, your AIP will need renewing after around 30-90 days. As a Mortgage Broker in Cardiff, we strongly recommend that you get one in place as soon as possible. You don’t want a situation where you have found your dream home but can’t actually apply for it because you don’t have an agreement in principle in place.

If it’s starting to expire, don’t rush a purchase as you can renew your AIP very easily. So don’t buy a house for the sake of it, make sure it right first.

Did you know that we can usually turn around an agreement in principle for you within 24 hours of your mortgage application! This is incredibly useful if you are a First Time Buyer who has found their dream first home and want to put down your deposit straight away. Even if you are Moving Home in Cardiff, having an AIP within 24 hours could prove extremely beneficial.

On top of this, we also offer a free mortgage consultation, so don’t hesitate to get in touch today to claim this offer. We can’t wait for you to get in touch with your expert Mortgage Advisor in Cardiff.

Cardiffmoneyman.com & Cardiffmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
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