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Ashingdon Road
Fox Properties
Estate Agents
Fox Properties
277/279 Ashingdon Road, Rochford,
Essex, SS4 1UA
01702 209920

Scroll down for “Help to Buy” information (see also ‘Mortgage Plus’)

Opening Times: Mon. to Fri. 9.00am - 6.00pm,   Sat. 9.00am - 5.00pm,    Sun. - contactable 10.00am - 2.00pm

Nature of Business: Sales & Lettings

Personnel: Stewart Pitt & Russell Parker

Always wanting to help our readers understand more of the businesses around them, we wanted to know how Estate Agents go about their business and so went (23rd March 2013) to his relatively new business and (without any warning)  asked Russell, “Tell us why we should use you as a firm of Estate Agents.”  Russell thought for a moment and then replied:

“I suppose the difference with us is that we are new to the area. We had just been talking about what makes us different from others and I think one of the main things is our attention to detail. We seek to put ourselves in your shoes and do everything we can to get your property sold.  So, for instance, when it comes to photography, I spend of lot of my free time becoming very good at that and that impacts on my day to day work to improve our presentation of your property, which makes the property stand out a bit more to get people through the door to look at it.  I hope it’s also the everyday way we deal with people so that everyone that comes in the door gets treated the same, whether they are looking to rent a property or whether they are looking to buy a property, whether they are in a position to do something now or  in six months or a year’s time, because our business has grown on word of mouth and it is something that has built up over time. People deal with us and they like the way we work, they recommend us to their friends and so it grows from there.   We are not the market leaders, we are the new boys in the town and that makes us ‘hungry’ and we work vigorously at it.
Our charges are based on how easy it will be to sell your property. Our price range at the highest end is 1½ %  and lowest fee is 1% and it is really based on the amount of work that is involved in selling a property and getting a property through to completion. If we can have a sole agency, we prefer 16 weeks but that is open to negotiation. If you want us to view the property and give a preliminary valuation, we do that for free.”

A good feel here!    

What is Help to Buy?

The latest scheme announced by the government this week is actually Phase 2 of the help to buy initiative.

Phase 1 of the scheme is only available to people buying a brand-new property.

The reason everybody is so excited about Phase 2 is that it will help borrowers looking to buy any property, newbuild or resale, or to remortgage an existing property.

So how does it work?

The Help to Buy Guarantee Scheme will allow people to take out a mortgage of up to 95% of the value of the property they are buying or remortgaging.

Up until now mortgage lenders have been reluctant to lend at 95% loan to value as it is seen as more risky than lending at lower loan to values.

Under the Help to Buy Scheme the Government will guarantee a further 15% of the mortgage loan to the lender. This makes it less risky for the banks as even if you don’t pay your mortgage and they have to repossess the property they are still likely to get most of their money back.
By reducing the risk faced by the lenders the banks will be more keen to lend at higher loan to values, hopefully with lower interest rates than seen previously.

Who does this help?

First-time buyers who don’t have a big deposits to get on the property ladder
Second time buyers don’t have much equity in their current property but are looking to move
Existing borrowers previously trapped in High Loan to Value mortgages to remortgage to a better rate.

We are receiving a lot of enquiries about the new scheme already. We will post more information as it is released.

In the meantime you can contact us now to book a FREE CONSULTATION with one of our expert advisors.