Fife Buy-to-Let Property Market Going into Crisis?
…as Fife first-time buyers now only need a 5% deposit for a mortgage.
Fife landlords, sell your property portfolios, your tenants will soon be leaving in droves as they buy their first home with the new 5% deposit mortgages backed by the Government’s new mortgage-guarantee scheme revealed in March’s budget! These 95% mortgages are to be supported by the Treasury, lessening losses for mortgage lenders should the borrower be incapable of repaying and get repossessed, as the Government want Generation Rent to turn into Generation Buy. Continue reading Fife Buy-to-Let Property Market Going into Crisis? (watch/read/listen)
Over the last six months, the Fife Property Market has been flourishing. As soon as an estate agent’s ‘For Sale’ flag went up, neighbours would be checking out Rightmove to see the internal pictures and compare the asking price to their own home (go on … admit you do that too – every Fife homeowner does). Flabbergasted by optimistic asking price tags, those same Fife homeowners stand open-mouthed to see a sold slip added to the board a few weeks later. Continue reading FP TV (EP 22) The Busiest December for the Fife Housing Market Since 2006 (Read/watch/listen)
Roll the clock back to April 2020, and major financial economists and property market commenters were sounding the alarm. The very best-case scenario was a 5% drop in property values by the end of the year, and most were in the 10% to 15% range. They forewarned the Covid-19 stimulated recession would trim tens of thousands of pounds off the value of Fife homes. Continue reading No Deal Brexit – The Prediction for Fife House Prices. (4 min read)
Looking back at the Fife property market for 2020, it can certainly be seen as a frenetic game of two halves, albeit with a very long half time in the spring. Between the General Election in mid-December and Christmas, many Fife agents saw an unusually higher uplift in activity in the property market just as we were Continue reading The 2020 Review of the Fife Property Market (3 min read)