Welcome to our very first newsletter - our aim is to keep you up to date with the property market as well as offer our professional advice.

We are your local independent estate agents with offices in Tunbridge Wells, Crowborough, Southborough, Tonbridge and Heathfield covering these towns and surrounding villages within Kent and East Sussex. 

In this edition we ask whether or not Brexit will help first time buyers, the news of UK property sales increasing almost 5% in the second quarter this year, challenge you to see how much you really know about renting and finally, the lowest 10-year fixed rate mortgage ever has been launched! 

 If there is one group that could be about to benefit from Brexit, then it’s the first time buyers. With the media constantly betting on whether the market rises or tanks, it can be hard to know what to believe. We’re going to look at the most likely outcome of the country’s shocking decision.

So far the property market has remained buoyant, which is keeping the prices steady and we could even see them begin to rise again soon. However due to a range of factors surrounding Brexit (like the rise in Stamp Duty) there’s a chance prices could slow or even reverse meaning that first time buyers could snatch up some good deals. There’s also a chance of interest rates getting cut, which would make mortgage repayments cheaper.

It’s not all smiles though. Brexit impacted the already struggling construction sector which has led to a 37% decrease in their work. Without new homes the house sector woes that have plagued first time buyers will continue.

To help those struggling first time buyers who are reading this, here are a few tips to help you take advantage of this golden opportunity.

Shop around for the best mortgage offer
There’s a new amazing mortgage deal every month, so have a good look and become an expert in the workings of a mortgage. If you found a mortgage you liked pre-Brexit, check again as the terms might have improved.

Be ready to go
Many assume that you should apply for mortgages during or after the process of finding a home. If you can have a mortgage agreement in principle in place, it will show agents that you’re a serious “ready-to-go” buyer when you want to make an offer on a property.

Beg, Borrow and Steal
Try and build up the equity you have on your house by pouring all the money you can spare into it. Borrow it from mum and dad if you have to.

Consider other options
You can look at other options such as shared ownership schemes. No one really knows which way the market might go, so it might be a good idea to experiment and research different new opportunities.

Save. Save, Save
Put off any trips or holidays for a few months so that you can put all your resources into saving for your deposit. Once you have a good sized deposit saved, you’ll have the run of the mortgages.

 Despite the decision for the UK to leave the EU in the recent referendum, the UK property market seems to be largely unaffected with residential property transactions rising by 4.9% from May to June 2016.

According to recent figures from HMRC, the month of June saw just over 105,000 properties sold, (94,550 residential transactions and 10,930 non-residential transactions) roughly 6,000 more transactions and a 4.9% increase in activity in comparison to the previous month.

This month to month rise activity could be due to increased interest in property investment from overseas, with the value of the pound sterling falling post-referendum. This growth in transactions could also be a sign of the market simply returning to normal, as changes such as higher stamp duty rates in April could have delayed a number of deals.

This is a theory backed and welcomed by many property experts, including MD of Stirling Ackroyd, Andrew Bridges, who states, “After stamp duty changes early in the year leading to buyers tightening their pockets, it’s great to see buying and selling approaching a new period of Brexit-related obstacles with a sense of vitality.”

While these latest statistics are good signs of an improving market, there still seems to be a way to go when compared to the same period last year. June 2015 recorded a total of 115,130 property transactions (105,340 residential and 9,790 non-residential) with 10.2% more deals completed than June 2016.

CEO of My Home Move, Doug Crawford has also commented on the current state of the market, claiming that it would be incredibly difficult to pinpoint how much of an affect Brexit will have throughout the year but early signs are encouraging.

Crawford stated “While the number of property transactions remain below the levels seen a year earlier, a 4.9% increase between May and June is very encouraging. My Home Move’s own data suggests that the number of completions in June 2016 was actually 2.7% higher than in June 2015.’

Crawford went on to say ‘The June increase shows that the property market mostly shook off the uncertainty from the Brexit referendum at the end of the month. This reflects our experience as most purchases went ahead without any issues. The big question now is what the impact will be for the rest of the year,’

The EU vote is still quite raw and while its impact will be hard to predict, we should get a much clearer view of things in the coming months.

 Another month, another contender for champion of the mortgage offers. This month Coventry Building Society has released a 10-year deal with a rate fixed at just 2.39%.

HSBC has also released a 10-year deal with a fixed rate of 2.79%.

The monthly mortgage deals are unlikely to slow down as experts believe rates will only drop further, thanks to the recent Brexit.

Who does this affect?

As usual there are some limits on who this mortgage is available to. Those that qualify will need to lay down a massive 50% deposit plus an arrangement fee of &999, meaning that this is an incredibly exclusive offer.

The offer from Coventry is also available to those looking to borrow 65% of their property’s value, whilst HSBC offers it to those looking to borrow 30%.

Those who choose to take up the offer need to be prepared to lose all their flexibility for 10 years and there are extreme penalties for those who choose to back out before the 10 years are up. It is also worth noting that Coventry will only have limited funds so anyone interested will need to move quickly.

What offers might we see in the future?

This month we’ve got the 10 year fixed rate, last month HSBC released a 1% fixed rate mortgage. Based on these trends, analysts believe we may be close to seeing a record low mortgage at 0.5%.

Rachel Springall, of Moneyfacts.co.uk, said: “The price of 10-year fixes has been coming down as it is an area lenders can compete in.”

“With the current level of uncertainty, they are also keen to lend to customers over the longer term.”

 The world of renting is a complicated one, full of rules, laws and myths. It’s important that you learn the ins and outs of becoming a good tenant before you become involved in the monthly rent and negotiating tenancy agreements.

1. Once you’ve chosen your house and agreed to move in, you should expect to pay a few small admin fees. However, it is illegal for a landlord to ask for money in return for showing you around a property.

2. A standard part of the rental process is the deposit. There is no limit on how much a landlord can ask you for a deposit (however in Scotland it’s illegal to ask for more than 2 months’ rent). Unlike buying a house however, as long as the property is in a good condition at the end of the tenancy, you’ll receive the deposit back.

3. Seek permissions from the Landlord to decorate and perform DIY. You could be avoiding a nasty shock when you move out as you might have to pay to have the work reversed.

4. Does your landlord just randomly show up at the house? Legally they cannot drop by, unless they have given you 24hrs notice.

5. Maintenance issues like burst water or gas pipes, leaky radiators and broken boilers are the responsibility of the landlord. Tell them right away rather than attempting to fix it yourself which could cause more damage and see the responsibility fall on your shoulders.

6. There’s only a small difference between untidy and dirty. Technically you’re staying in someone else’s home, so it makes sense that you should clean as often as possible. In some rare cases a court order can be obtained to evict you if the house is poorly kept.

7. If you’re going on holiday for longer than 14 days, then you need to inform your landlord. If something happens whilst you’re away then it may invalidate your insurance.

8. Contrary to belief, a landlord cannot raise your rent whenever they like. If they wish to raise it during a fixed tenancy period, then they must have your permission first.

9. Dreaming of owning a pet? You may have a pet in the house as long as you have asked permission and as long as it isn’t forbidden in your tenancy agreement.