Coventry Property Buyers' Dos & Don'ts for 2015

1. Property Buyers' Dos & Don'ts
for 2015

2. A number of changes to the property and mortgage markets in
2014 are shaping how buyers should act in 2015. In this feature we
look at the top six dos and don'ts for anyone thinking of buying a
property for sale in Coventry in the next 12 months.

3. Do Register With Coventry Estate Agents Direct
The property market has found new confidence in 2015, and
there is a growing demand for houses and flats for sale in
Coventry. By registering with local Coventry estate agents,
including Allsopp & Allsopp, you'll be notified as soon as a
property matching your requirements comes onto the market. In
most instances, you'll get first refusal before it goes on line or
marketed to the masses.

4. You may have heard that the Chancellor changed the stamp duty
system in December 2014. If your search includes properties for
sale in Coventry, ask our estate agents how much money you will
save as part of the reform - you could put the saving towards the
purchase of a property, giving you a bigger budget. Typically, a
buyer will save £650 if purchasing a home worth £185,000,
£4,500 if the property is priced at £275,000, and £4,900 if the
property is bought for £510,000.
Do Check How Much You'll Save As Part Of
The Stamp Duty Reform

5. The Mortgage Market Review undertaken in 2014 means lenders
are scrutinising a borrower's financial situation to a much deeper
level. Buyers hoping to secure a mortgage should be prepared
with all the necessary paperwork before an appointment with a
bank or an independent mortgage advisor. That includes proof of
address (covering more than two years); photographic ID; bank
statements; wage slips and SA302 forms for those with self
employed status.
Do Be Prepared When It Comes To Paperwork

6. If you have a residence to sell it is wise to have this under offer
before you start viewing new properties to move to, advise our
Coventry estate agents. Vendors are encouraged to accept offers
from the strongest buying candidates and that doesn't necessarily
mean the buyer with the highest offer. Many vendors prefer a
speedy, reliable buyer and those who have a property they need
to sell under offer are favoured over those still to put their home
on the market.
Don't Be Tempted To Find A Property Before
You Have Sold

7. This is great news for both buyers and sellers of property in
Coventry as it means more cash-rich people in the marketplace.
The pension changes will allow over 55s with a private pension to
withdraw as much money as they like from their pension pot, as a
cash lump sum. This will give people the financial reserves
needed to move house, invest in property or buy a
second/holiday home. Coventry estate agents Allsopp & Allsopp
expect the change to bring more buyers and fluidity to the local
property market.
Don't Forget Changes To Pension Pots Come
Into Effect In April

8. Need more moving tips and advice on selling or buying property in
Coventry? Contact our Coventry estate agents to find out how we can
help.
Allsopp & Allsopp UK
Allsopp & Allsopp UK
115 New Union Street
Coventry, CV1 2NT
Phone: 02476258769
E-mail: info@allsoppandallsopp.co.
uk
www.allsoppandallsopp.co.uk