Mortgage Advisor Reading
Need some friendly advice?
Looking for a moving house mortgage can be a daunting task, that’s why here at Your Certified Expert our friendly team are happy to answer any questions you may have.
Our certified mortgage brokers are all accredited .
With finance being heavily regulated, the advice you receive will be from a certified broker.
What you need to know about mortgages in Reading
Getting a mortgage in Reading involves understanding the local housing market, mortgage options, and specific factors related to the area. Here’s a comprehensive guide on what you need to know:
1. Reading Housing Market
- Property Prices: As of late 2023, the average property price in Reading is around £350,000. Prices vary depending on location, property type, and proximity to amenities.
- Types of Properties: Reading offers a mix of Victorian terraced houses, modern apartments, semi-detached homes, and new builds.
2. Deposit Requirements
- Typical Deposit: Most lenders require a deposit of at least 5% to 20% of the property’s value. In competitive areas, a larger deposit may be needed to secure a better mortgage rate.
- First-Time Buyer Schemes: Government schemes like Help to Buy may assist with deposits, though eligibility criteria apply.
Types of Mortgages
- Fixed-Rate Mortgages: Provide stability with fixed payments over a specified period, ideal for budget management.
- Variable-Rate Mortgages: Payments fluctuate with changes in interest rates. Includes tracker mortgages, which follow the Bank of England base rate.
- Interest-Only Mortgages: You pay only the interest each month, with the principal due at the end of the term. This type is less common and carries more risk.
- Buy-to-Let Mortgages: For purchasing rental properties, often requiring a larger deposit and specific criteria.
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Local Property Trends
- Popular Areas: Consider neighbourhood’s like Caversham, Tilehurst, and the town centre, each with different characteristics and price points.
- Investment Potential: Reading’s growing economy and transport links make it an attractive area for property investment.
- Caversham – Known for its family-friendly atmosphere and proximity to the River Thames.
- Tilehurst – Offers a mix of residential options and good local amenities.
- Reading Town Centre – Ideal for those who want to be close to shops, restaurants, and transport links.
- Southcote – Known for its more affordable housing and community feel.
- Earley – Popular for its good schools and suburban environment.
- Katesgrove – Offers a mix of housing types and is close to the town center.
- Whitley – A diverse area with a range of property types and local services.
- Park – Features large homes and green spaces, providing a quieter residential option.
- Lower Earley – Known for its modern housing developments and family-friendly environment.
- Newtown – Offers a blend of period and modern homes with convenient access to amenities.
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4 Royal Crescent Second and Third Floor, Cheltenham
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Sunday: 11am — 4pm
