Is the London property market doomed post Brexit?

Scott Ayliffe, Director of Sales and Marketing
Scott Ayliffe

“The end is nigh…” How many times have you heard that phrase since Brexit was announced? However, if you put things into perspective, the property market is in good spirits. How can you make the most of it and beat competition?

Look great by being financially fit. Corporate lending and development finance has seemingly tightened. From a seller’s perspective, it means the buyer will now have to be of better quality than previously, and from a buyer’s view point, it means the relationship with a good mortgage broker has become even more essential.

Get your LiFE in order. If you are going to buy, you should have a Mortgage Agreed in Principle (MAIP/AIP) before you begin property hunting. The number of properties coming onto the market is currently lower, meaning you will be in competition with more buyers – act quick.

Lenders being lovely? Banks and other lenders are doing their bit to help. With new lenders coming to the forefront your choice for a lending partner has never been as robust.

Pounds & pence, it makes sense. Investing in property in the UK is still a great choice. Mortgage rates are the lowest they have been for a hundred years. Property prices are stable, so if you can get together a deposit it is the ideal time to buy. Not only do you get a monthly return on your initial investment, but you also benefit from its capital growth!

If you are buying, renting, selling or letting, your choices have somewhat broadened, (and) so, now should your due-diligence. The property transaction is still a multi-faceted and complex transaction with many a professional jostling for one-upmanship success even to spite their colleagues and ultimately despite their client. Therefore, you need to ensure you are picking the right professional for every facet of your transaction.

If you need professional help or advice with your property investments, please get in touch with us – we’d love to hear from you.

Scott Ayliffe
Director of Sales and Marketing
liferesidential.co.uk
LiFE Residential