Are you applying for a mortgage this weekend?

Mortgage application approvals have shot up to their highest level in nearly a year, according to bankers.
The British Bankers Association (BBA) says that the number of applications being signed off increased by 7% in April compared to March, meaning some 42,116 applicants were given the green light.
It is the fastest rise since September 2013, and the highest number for 10 months.
The BBA is optimistic that the trend will continue in the coming months, which is another welcome vote of confidence in the property market.
Certainly, there have been plenty of very competitive mortgage rates on offer for homebuyers and investors as we continue to see record low interest rates and falling inflation.
Indeed, analysts expect interest rates to remain on hold for some time, with some forecasting that a rise will only come later in 2016.
At McAndrew Martin, we’ve also seen a rise in demand for our surveys and property related services, including mechanical, electrical and structural engineering, architectural design, land and new homes developments, boundary work, legal services, conservation and project management.
It is crucial to get the right survey when you are buying a property – indeed, a mortgage application can rise or fall on the findings of a survey.
A survey by a professionally qualified chartered surveyor will ensure that the prospective buyer has the full picture from which to make a decision about a property.
It can save the buyer money in the long term by ensuring there are no hidden – and costly – surprises after purchase.
Choosing a local surveyor with local knowledge, local connections, a stake in the local community and an interest in the local economy is also vital.
As a being well-established local firm of more than 25 years’ standing, we know just how important it is to reach and exceed the highest standards of service.
Operators working a distance will lack the local knowledge and contacts as well as the availability to be on hand locally and provide a personal service.
Indeed, in some cases local practices may have even carried out a survey on the same property several times – so they will know its history and any issues – as well as any specific issues in the area as a whole.
So, if you are thinking of moving home or taking advantage of low rates to invest in a buy to let property, please do consider a local surveyor.
If you’re not househunting or looking into a mortgage application, have a good weekend too. We’ve had another busy week so we’re looking forward to relaxing weekend before heading full steam into June on Monday.
If you’re out and about, why not visit the Portsmouth News website – or buy a copy of the paper – to see what’s on this weekend.
It’s at www.portsmouth.co.uk/what-s-on/going-out/what-s-on-for-saturday-may-23-and-sunday-may-24-2015-1-6760029
You can also visit the BBA website at www.bba.org.uk.
Please do like us on Facebook, follow us on Twitter @McAndrewMartin and connect with us LinkedIn when you get the chance too!

Mortgage application approvals have shot up to their highest level in nearly a year, according to bankers. The British Bankers…

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