Tel: 01328 862222
info@purenorthnorfolk.co.uk
Tel: 01328 862222
info@purenorthnorfolk.co.uk
People tend to be one of two types on Covid 19 lockdown - those who are embracing and enjoying the relative peace and quiet - and those missing daily life. It's certainly a strange time. We've seen reports from Llandudno about mountain goats from the Great Orme wandering the town centre, Canadian geese nesting and strolling through Manchester City centre, deer watering through Romford and sea eagles with a 7 foot wing span seen over east Anglia.
For many people, this is not really a question they ponder as property purchasing in parts of North Norfolk are beyond their reach. It's not just the raw prices that are so high - it's the stricter mortgage criteria and LTV (loan to value percentages).
Many mortgage suppliers no longer work on income multipliers, but on affordability. They work out what other forms of outgoingS you have (car loans, student loans, council taxes) etc before they commit to a figure. Those golden days of 100% mortgages are over, as too are interest free mortgages meaning capital repayments with a substantial deposit of 10 to 25% are the new norm.
Schemes like Help to Buy, a government equity scheme on new builds for first time buyers, have been a great success in reducing deposits to 5%. For many people, this is not really a question they ponder as property purchasing in parts of North Norfolk are beyond the reach. It's not just the raw prices that are so high - it's the stricter mortgage criteria and LTV (loan to value percentages).
The demand for high quality rented accommodation shows no sign of abating at the start of 2019 and we find, here at Pure North Norfolk, that lets are snapped up even before they appear on property portals or our active social media pages - and we have let and sold after someone has seen a post on Facebook or Instagram.
It perhaps used to be the case that a property for rental used to be quite a basic affair, but with tenants asking for more and lifestyles changing, the savvy landlord or landlady of 2019 needs to make sure certain requirements are ticked so that a property lets quickly to the right tenants and for a long timeframe.
So what do tenants look for in North Norfolk and elsewhere?
An article caught our eye this week in the local press with an advert for a head gardener. Not just a head gardener across North Norfolk, but one attached to Holkham Hall.
Now would that fill you with joy or dread?
Let's look at Holkham Hall itself - one of the jewels in the crown of our area, along with its superb beach, repeatedly voted one of the best in Britain.
Estate agency is not always the most reliable of sectors to work in - people simply are not moving as often as they used to and the past few years have been mired in political and financial uncertainty due to, dare we say it, Brexit.
2018 though has been a good year for the team, its customers, its property buyers and sellers and landlords at Pure North Norfolk.
Let's explain why.
