Lockdown has been a bizarre experience for everyone, for many, we have spent more time in our own homes than ever before. We have finally done those jobs we were always going to get around to, but never had the time. We have become a nation of garden lovers and we have seen our ‘space’ in a different light.
This, for the vast majority of people, is where they will continue to live. However, many people have decided that it is time to sell, they need bigger living accommodation, they need a garden or, heaven forbid something like this ever happens again, they want to be closer to family. Whatever the reason, now is the time to get your property on the market.
The property market will return and when it does you want your property to be seen by the many potential buyers that will be looking for change. Early indications show that the mortgage and property markets are ready to bounce back as strong as before.
Selling Your Home After COVID-19
During lockdown you want to have your property ‘photo ready’, clear the clutter and make it look as attractive as possible for potential buyers.
Look into estate agents to see who best suits your needs to market your home. Many are still working, even if it is remotely, valuations can now be conducted and people can view your property online. The more exposure your property has on the internet the more people are going to see it and the quicker the property will be sold. Whoever you decide to go with as an estate agent, make sure they advertise on the large property sites (RightMove, Zoopla, S1 homes).
If you have de-cluttered the house and garden there is nothing stopping you starting the process of looking for a suitable estate agent and getting your property on the market. The property market has always been about supply versus demand and though people are scared in these uncertain times there is still a great demand for properties as people continue to change.
Mortgage After Lockdown
For a period during lockdown, mortgage lenders stopped lending due to the uncertainty in the market. They have also imposed new rules on what’s acceptable to prove income and rejected some people on furlough, however the rules and guidance from lenders is changing on a daily basis and we can expect conditions to improve if you’re considering applying for a mortgage.
It would be beneficial to speak to a mortgage adviser for free with Mortgage Advice Scotland because we’re fully apprised on which lenders will be more favourable to your circumstances. You are under no obligation to proceed with our mortgage advice but it may help you decide which option is right for you.
So what have we learnt during lockdown? Have you decided that it’s time to move on or are you considering finding a better mortgage deal to save you money or pay off your mortgage faster? If so, we would be delighted to help – you can call us on 0800 112 3690 to get started.