House prices rise for 3rd month in a row!

With gloom and doom seemingly around every corner, it's good to report some positive news about the property market. For the third consecutive month house prices have risen and signs are that the worst may be behind us. Will would-be house buyers miss the boat as prices climb back?

The latest Nationwide House Price Index shows that the average house rose in value by 1.3% in July. The fact that house prices have risen for the last three months shows that confidence may be returning to the housing market and this renewed momentum could have a positive effect in the coming months too.

With base rates at an all time low buyers consider their mortgages to be more affordable, whilst an increase in lending from some major providers is also helping to get things moving again. At ContractorFinancials the mortgage desk have just experience the busiest month since last summer as canny buyers snap up properties at current low prices from what is a very limited supply on offer.

We are noticing that lenders, however, are very picky about who they will lend to and a number of clients who have come to us on the rebound from less Contractor focused advisers seem to have had a torrid time trying to get the mortgage they require - even with a substantial deposit in some cases.

We specialise in helping Contractors to secure a mortgage based on contract rate alone so you avoid the hassle of explaining your income to High Street lenders.

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