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February 2009

The start of 2009 has seen a change in the residential market. We have noted a lot more enquiries and sales taking place, certainly compared to the latter part of 2008.

There seems to be more people wanting to purchase since the drop in the Bank Lending Rate. Now we are at 1%, many people are turning to property as an investment over savings or stocks and shares.

The Banks lending criteria certainly makes it difficult for first time buyers to get on the housing ladder. At Summerfield we recognise this and have put together packages to help these who may not have sufficient deposits. This can include shared equity, which effectively are equivalent to having a very low interest loan to facilitate a purchase of a home.

Please do not hesitate to give us a call to see if we can tailor a package to get you into a home of your choice.

Richard Nicol - 11 February 2009

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