Thank you to all who entered our Easter colouring competition!
Every single entry was excellent and it was very difficult to pick winners.
Have a look at the winning entries below.
The team at Benwell Daykin hope you had a great Easter. Please stay safe everyone.
Initial blank design courtesy of Personalised Photo Gifts.
Following new government guidance, our office will be reopening on Monday 18th May 2020. We will be operating reduced trading times whilst we adjust to the changes outlined by the UK government, in the interest of health and safety.
We are also still conducting valuations over video call. Please do not hesitate to get in touch if you are considering putting your property on the market immediately.
You can still call us on 0115 990 2007 or email info@benwelldaykin.co.uk.
Most viewings will still be conducted via video call or YouTube until further notice.
These are unprecedented and difficult times and we hope to be back assisting the community with all their property needs in the not to distant future.
Stay Safe. – Benwell Daykin Estate Agents
After the UK general election in December 2019 the property market picked up. More properties came to market and property prices began to climb at the fastest rate in two years.
The average UK property price rose to £312,625 in February 2020, according to Rightmove.
Now the market faces some uncertainty with the development of Coronavirus or Covid-19.
We do not know the full extent of what is to come with the virus. We do know, however, that those who are unable to work currently can ask for mortgage holidays. This means they can defer having to make monthly mortgage payments for a set period of time.
Currently it is business as normal for us.
Property prices are still currently holding and despite the mild panic we are still seeing enquiries on all our available properties. This is for both sales and lettings.
For now, it’s business as usual at Benwell Daykin estate agents.
The Bank of England has today announced that interest rates will be cut from 0.75 per cent to 0.25 per cent. This has been introduced as an emergency measure to keep the economy moving, following the outbreak of coronavirus.
This news means that borrowing costs are down to the lowest level in history.
Interest rates were increased in August 2018 from 0.5 per cent to 0.75 per cent. This announcement is the first cut since August 2016.
From 2008 to 2016, interest rates were at a steady 0.5 per cent.
Mortgage rates are likely to change slightly although this will not be immediate.
If you are on a Variable Rate mortgage then you may soon see a reduction in your monthly mortgage payments. If you are looking for a new mortgage deal then you may have to wait some time for these changes to happen.
It is unlikely that there will be significant drops in monthly mortgage payments as interest rates were already at a very low level.
