Keywest estate agent Leicester are here to advise you about your options and whether it’s the right time to buy a house.

Don’t put off your property purchases because of fears about the forthcoming election or because you are holding out for mortgage rates to drop further – that is the advice from property experts.
Mortgage rates are already hitting historic lows – they have dropped by almost 50 per cent in two years – and Virgin Money is predicting that home loans are unlikely to get significantly cheaper than they are already. Add to this the experts calling ‘election uncertainty’ talk ‘overstated’, and you have no reason to put off your next property purchase.

Jayne-Anne Gadhia, the chief executive of Virgin Money, said that banks are starting to consider how cheap mortgages are affecting the capital strength of their business, meaning that the best deals are likely to be available right now before rates start to rise again. Many experts agree that the rates have just about reached the bottom. Although rises are not predicted immediately, there is only one way that they are likely to go.

Ms Gadhia’s predictions came as her company announced that it has seen a doubling in its annual profits. The Virgin Money bank was created by Sir Richard Branson after he bought a part of the Northern Rock business from the UK government in 2011. It listed on the London Stock Exchange in 2014 and is Britain’s best-performing share option in the banking field. Shares have risen 17 per cent since the company listed last November.

So it seems that you are likely to get the best mortgage deal if you choose a fixed-rate option right now, but what about the impending general election in May? Many experts believe that despite some talk of uncertainty in the market, the effects are generally being overstated. The consensus among many is that the election should not be a reason to postpone a house move, as all three major parties have expressed commitments to house building, and interest rates are not likely to be affected by the event.

There also looks set to be a profit to be made for those choosing to buy now. Houses prices are predicted to rise by around eight per cent during 2015. Add to this an increasing influx of new entrants into the lending market, providing greater competition and better deals for consumers, the current environment of low interest rates and stamp duty rule changes, and you are presented with the ideal time to invest in your perfect property.

If you are looking to buy a new property, talk to the property experts at Keywest. We’ll help you find the right investment. Call 0116 254 4555.