If you are looking to buy a home in 2022, it is fair to say you should seek financial advice. If you have never purchased a home before, you will benefit from an expert taking you from start to end of the process. However, even if you are highly experienced in buying homes, perhaps holding a property portfolio, there is a lot to be said for calling on professionals for guidance.

The housing market is continually evolving. This creates fresh opportunities, and it means the methods which worked for buyers in the past might not be the most suitable solutions available now.

With new mortgage products to consider, Government assistance on offer, and even changing interest rates, there is never a wrong time to meet with an expert and update your knowledge.

At Urban BASE, we are happy to provide financial advice for all homebuyers this year, and we look forward to assisting you.

Important questions homebuyers should be able to answer in 2022

If you are contemplating buying property this year, you should be able to answer the following questions in a positive manner that leave you feeling positive about buying a home:

  • Do you have a big enough deposit to make your mortgage affordable?
  • What are you likely to receive as a mortgage offer, and what can you afford to pay each month?
  • Do you have flexibility to manage increasing interest rates?
  • Are you prepared for the additional costs associated with buying a home?
  • What is happening to house prices in the area you are looking to buy?

Buying a home is likely to be the most significant commitment you make in your life, certainly financially, and it is vital you are fully prepared for this.

At Urban BASE, we can help you answer these questions, and consider every aspect of buying a home.

You can rely on Urban BASE for financial services and wealth planning

We are pleased to say we have considerable experience in understanding clients’ situations regarding property transactions. This experience allows us to offer tailored advice relevant to your needs.

The information and support a first-time property buyer looks for are very different from what an experienced property investor needs, and we know the difference for each buyer.

Urban BASE works closely with financial institutions, financiers and advisors to ensure you make an informed decision about what is best for you.

What next in the UK housing market?

Although nothing can be taken for granted in the UK housing market, especially not with outliers such as the impact of Brexit and the Covid-19 pandemic still affecting behaviour, there is optimism the market will remain strong.

Average property rose by 9.8% in 2021 (according to Lloyds Banking Group), with sellers and buyers advised to prepare for a similar movement this year. A shortfall in the supply of property is the critical factor in price growth, and until that is rectified, houses will likely keep rising in price.

Therefore, if you plan on buying a home this year, be prepared to see property prices rise. If you are ready for this, we are more than happy to assist you in buying a home in the North East of England.

Contact Urban BASE for all your North East property needs

If you would like to arrange an appointment to discuss a move into the North East property market, we are always happy to help. Call us on 0845 6431186 today.