🔥 HOT OFF THE PRESS 🔥 In this month's SPREAD THE WORD, learn how first-time buyers could benefit from relaxed affordability rules, and a third of Brits would like to own a buy-to-let property. Plus, the team spotlight is on Kevin, and we have some cute photos of our dogs!
TEAM NEWS
This month’s team spotlight is on Kevin Chapman of KJC Mortgages & Protection, who has been part of our extended broker network since 2020.
Where are you based, and why do you love it? I live in the quiet village of Polesworth in the district of Warwickshire, adjacent to the border with Staffordshire. I love the local history of the area, which goes back to Saxon times. We have both country parks and Drayton Manor theme park on our doorstep, so something for everyone!
Your favourite local restaurant is… Zaazu, the best Indian in Tamworth (in my opinion!). We love going with family and friends.
Why do you enjoy your role? There is nothing better than seeing clients receive the keys to their new home and making happy memories.
My drive, dedication, and happiness stem from helping people achieve their personal goals and ambitions, such as owning their own homes, securing deals, and protecting themselves and their loved ones. With an individual approach, I offer clear, straightforward, and understandable advice, whether delivered in person or remotely.
What do you do in your spare time? I’m a father to two boys and married to my wife of seven years. We enjoy spending family time making special memories, having adventures, and holidays. I also coach at Tamworth FC for our U12s football academy – recent winners of the Wolverhampton Wanderers FC 2025 foundation tournament 🏆⚽️
🐾 Take Your Dog to Work Day
Last month, we celebrated Take Your Dog To Work Day! As you will all know, we're a team of dog folk. We loved sharing photos of our furry friends. Whether your pup is curled up under your desk or keeping you company during meetings, having them at work can brighten the day for everyone. Go to our socials to share your office pet moments with us! 📸🐕 Let’s see those happy faces and wagging tails that make our workplaces more fun!
MORTGAGE NEWS
Relaxed affordability rules could boost FTB sales by 24% and lift house prices
Changes to the way lenders stress test mortgage affordability could increase first-time buyer transactions by as much as 24% over the next five years and result in higher house prices, analysis from a property firm suggested.
Savills said many lenders had already adjusted their affordability rules, due to confirmation from the regulator that they did not need to stress test borrowers at a minimum of 1% above the standard variable rate (SVR) on fixed rates shorter than five years.
It looked at scenarios where 50% or 75% of the additional mortgage loan accessed by a borrower would be added to the property purchase price, allowing someone to either buy a bigger or better home or cover any rises in house prices.
Savills suggested that applying a stress test of 7% instead of 8.25% to a first-time buyer earning £62,000 and buying a house worth £260,000 would increase their borrowing capacity by £25,900 or 12.8%.
SOURCE: Mortgage Solutions
A third of Brits want to own BTL properties, survey finds
Some 33% of people in the UK want to own a buy-to-let (BTL) property in the future, a study from a lender found.
A survey of 2,000 people carried out by Opinium and commissioned by Market Financial Solutions found that this was more prevalent in younger respondents. Some 54% of those aged 18-34 aspired to own a BTL property, while just 14% of respondents aged 55 and over felt the same.
Property investment was considered a good way of building long-term wealth, as said by 60% of those polled, while 37% said they would rather invest in a BTL property than stocks and shares.
Just over half – 53% – agreed with the statement that “real estate is a safe and stable asset to invest in”. The survey also found that if respondents were to win £1m in the lottery, 58% would use some or all of it to buy property. Again, this was truer for those aged 18-34, with 68% saying they would do this.
SOURCE: Mortgage Solutions
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