Category Archives: Home Buying

New Homes For Sale in Ramsbottom, Bury, Greater Manchester

Chatterton Place is a select development of new build homes currently being built by Eccleston Homes in the up market of Ramsbottom, Bury in Greater Manchester.

Ramsbottom viewThe reason this news has found it’s way onto the Yaxley site is that this new housing development will be of interest to a great number of people as Ramsbottom was recently voted one of the top places to live in the UK by The Times newspaper.

One of the reasons is the beautiful surrounding greenbelt countryside and the excellent local schools. There are 3 that are OFSTED rated as ‘Outstanding’ – St Joseph’s RC, Hazelhurst Community and Ramsbottom Stubbins which is about 100 yards away from the Chatterton development.

Having lived in Stubbins, Ramsbottom for 2 year myself I can attest to it’s beauty. In fact all my children went to Stubbins primary school and I too would recommend it.

So what is it about living in Ramsbottom? For me it’s the country feel. When I was younger I lived in Eccles and became fed up of the inner city lifestyle. Living in Ramsbottom gives you and your family space to breathe. You can get out an walk in nature, see wild animals and flowers and stroll through many of the local woods. The town is not very big so there aren’t many people, just lots of open green space where you can feel blessed to be living.

Recommended Mortgage Brokers – Ramsbottom and Bury
Here at the Yaxley blog we’re always on the look out for the latest reviews and information about mortgage brokers and advisors in Manchester. To see the mortgage brokers we recommend throughout Bury and Ramsbottom please see our home page

Buying a house without a large deposit

The financial crisis of 2008 hit almost everyone, especially home owners and house buyers. For those people wanting to buy a house suddenly a figure of 30% was conjured up out of nowhere to be a suitable deposit when buying a house.

Suddenly, my clients around Manchester, Liverpool and Chester were being asked to find £60,000 as a deposit for a modest £200,000 property. The effect his had was to kill the housing market as no one could afford to buy a house anymore unless they had a substantial amount of money behind them.

With house prices currently falling (see this Telegraph article), the number of people who have bought houses with only a 5% deposit has hit it’s height.

To clarify, a 5% deposit means that instead of a £60,000 (20% deposit) on a £200,000 house, buyers would only need to raise a far more modest £10,000 deposit. This is obviously great for home buyers, but when house prices start to fall, so does the equity of your house.

Let’s say you bought a £200,000 house when you moved from Manchester to Chester and you paid a 5% deposit of £10,000. Now imagine you’ve lived in that house for 2 years but it’s now worth only £150,000. In two years, you’ve probably paid off somewhere in the region of £8,000 from your mortgage of £190,000, but your house is now only worth £150,000, so in real terms you’ve lost almost £40,000.

House prices and equity values are just one of the things home buyers need to consider when spending large amounts of money on a house. The lesson: Be diligent and research well !

House Mortgages in Warrington

Warrington is an interesting place to live, in between Manchester and Liverpool and well connected by both the M62 and M6 it has great access to all 4 compass points of England. With areas like St Helens and Culcheth nearby, there’s a great choice of different areas to buy houses in too (see this conversation on Mumsnet for more).

Warrington

Browsing Rightmove for houses for sale in Warrington produces a typical mixed bag of results, and there’s plenty of different houses available to suit different tastes and affordability.

Popular mortgage brokers are currently offering great mortgages on houses in Warrington for all types of buyer – ie. first time buyers, people who want to remortgage, those who wish to move into the area and those wanting to upsize into a bigger property. Indeed a popular mortgage broker from Manchester is currently offering a fixed term 5 year deal at a very attractive interest rate. It’s a mortgage deal that’s proving very popular with the inhabitants of Warrington, many of whom are from St Helens and are moving to Culcheth.

For those of you who don’t know, St Helens is a town – known for it’s rugby league team and has more of a city feel, Culcheth is out in the countryside and is known for its beautiful green parks and steam rallies during the summer months.

If you’re wanting to find a mortgage lender who can advise you on properties in the Warrington area then browse the pages of this blog to find some recommendations.

Mortgage Broker Didsbury

Didsbury is a thriving community of well to do people within Greater Manchester. The area is mainly inhabited by professionals and has always has a sort of cult kitsch about it. Now with the house pricing increasing significantly with Manchester, Didsbury is no exception, and house prices have risen over the last 18 months or so.

Didsbury

With great places to eat, shop and live, Didsbury is attracting many people to the area. In fact, according to the Manchester Evening News it is Manchester’s most expensive suburb (see https://www.manchestereveningnews.co.uk/news/property/buying-a-house-in-didsbury-12924443). It’s interesting then that it attacks so many first time buyers too.

“But how does a first time buyer afford a house in Didsbury?” I hear you ask. Well it’s all to do with clever mortgage planning. The chances of first time buyers getting a mortgage in Didsbury from a high street mortgage lender are slim to say the least, however, this is where independent brokers who specialise in Didsbury come into their own.

This is because they are able to find mortgages offered by all lenders, not just those of the Halifax, RBS, Virgin etc. Quite often these larger companies won’t offer you a competitive rate, or even a mortgage deal at all, but smaller lenders (e.g. https://www.coventrybuildingsociety.co.uk/) will be interested in lending you the money – and at a competitive rate too.

So my advice if you’re looking to buy a house in Didsbury is to use an independent mortgage broker. Look around some of the other pages on this site for recommendations.

Buying a House in Chester, Frodsham or Warrington, Cheshire

The M56, otherwise known as the North Cheshire Motorway extends from Manchester and runs west into the Ellemere Port and Chester area of Cheshire. It’s a convenient route for commuters who work in the large cities of Liverpool, Manchester and Chester.

Northwich pubBut let’s not also forget about the smaller towns between Manchester and Chester, such as Frodsham or Warrington, that provide equally good housing (sometimes better) and offer a degree of rural living to people who choose to buy houses and settle here.

Two places of note as one drives towards Chester from Runcorn are Frodsham and Northwich. Both are very pleasant areas, offering lots of countryside and a degree of elegance. House prices reflect this – with many houses coming in the upper income bracket (see http://www.rightmove.co.uk/property-for-sale/Northwich.html). Similarly Frodsham (& Knutsford) offer an even higher standard of living for those with the money to be able to buy a house there. With the larger properties of course, often one requires a local mortgage broker to arrange the finance and in Chester and Warrington there is a branch of the popular Manchester Mortgages, who are probably the #1 brokers and advisors for home buyers in the M56 area (see http://manchestermortgages.co.uk/cheshire-mortgage-broker-advisor/).

I look at the houses for sale in both Frodsham and Northwich and am actually surprised to find they are not more expensive that I thought. True I am looking at the ‘top end’ of prices, and there are some very nice houses for less than a million pounds. I also note that in addition to houses for sale there is land for sale too. This will appeal to housing developers who are looking to build some nice properties in the area.

So in conclusion, the M56 North Cheshire Motorway offers a great deal of scope for people who want a semi rural way of life, but at the same time are close to the larger cities of Manchester, Liverpool and Chester to make commuting possible.

Nice Houses in Lancashire

The Lancashire Life magazine run an interesting page related to houses for sale in the North West of England (see http://www.lancashirelife.co.uk/homes-gardens/property-market). The cost of houses is highly dependent on the cost of the land they will be built on and the more desirable the area, the higher the cost of the land.

Pendle walkers

The same magazine provides a useful list of land prices by area throughout Manchester and the north west of England (Lancashire focused), you can see that here: http://www.lancashirelife.co.uk/homes-gardens/property-market/how-much-does-one-square-metre-of-property-cost-in-lancashire-1-5232476

Clitheroe and Whalley are towns to the north of Manchester that are far enough away from any major conurbations that they qualify as “rural” or “semi rural”. Prices per sq metre of land here are about £300 more expensive that they are in Bury.

A short distance away from these places is Burnley, which has some of the cheapest hour prices in the country. Surrounding Burnley are Hyndburn and Pendle – 2 more ruralish areas where getting a nice house could be within your price range.

Of course it’s not just about location. Most people need amenities to go with the nice location. It’s no good having a lovely house if the nearest school is 10 miles away, or the nearest shop is a 20 minute drive. In some cases, this is the reason that some houses in rural areas of Lancashire are so cheap – the house might be perfect, but it’s very cut off meaning that everything you need is a drive away. This is not ideal, especially if you have a young family that need entertaining.