South west estate agents look ahead to 2015 and the changes that will affect home movers

Feb. 17, 2015 - PRLog -- Did you make a New Year's resolution to find somewhere new to live? Does your spring clean involve a fresh start in a different house? Winkworth South west estate agents (http://www.winkworth.co.uk/regions/south-west) normally find the first three months of a new year the busiest as they help home movers find a new home or help vendors get a property ready to bring to market.

The year ahead will see a number of changes really take affect and buying a property for sale in the south west will be different for almost everyone. What follows outlines the property market in 2015 and how to get a head start if your intention is to move:-

Stamp Duty Reform - although this was announced in December 2014, the real benefit is only just being digested as home movers discover their future property purchase has become thousands of pounds cheaper. An income tax-style 'portion' levy has replaced the old and very steep bracket system, meaning every home sold under £937,000 will now incur a smaller tax bill. South west estate agents are happy to explain the new stamp duty approach to buyers and sellers.

Starter Home initiative - you may have missed this piece of news as it was announced just before Christmas and was overshadowed somewhat by the stamp duty reform just days before. The Government's Start Home initiative is designed to help first-time buyers under the age of 40 by giving them access to discounted newly built homes. House builders are being asked to build on unused brownfield land in return for an exemption from some taxes and changes to the planning system. It is thought 100,000 new homes will be sold to first-time buyers under the age of 40 at a 20% discount.

Mortgage Market Review - a new more stringent approach to mortgage lending was announced back in April 2014 and it's only now that the effects are being felt in the property market. Essentially lenders now want to know about all of a borrower's disposable income and how they spend it, in addition to how they would afford repayments should interest rates rise. The last point is a pertinent one as many predict a small rise in interest rates during 2015. Borrowers are urged to go through their finances with a fine tooth come and gather all essential paperwork before presenting to a lender or an IFA.

The General Election - spring will be awash with manifestos and enthusiastic politicians out to win votes. While the unpredictable nature of the election is expected to dampen the property market in the run up to May, it is what follows that is important to home movers. Chancellor George Osborne has set his stall out early, announcing a raft of vote-winning measures for home movers before the big day, including the above stamp duty reform and the Starter Home initiative. However, it's worth examining each party's policies on housing before casting a vote. Labour's is particularly important for landlords and tenants, with a proposed scrapping of letting fees, a cap on rent rises and a move towards three year tenancies as standard.

Please visit http://www.winkworth.co.uk/regions/south-west to know more about south west estate agents