Mortgage News; Fixed Rate v Standard Variable Rate

Despite an ever-narrowing gap between monthly payments for fixed rate mortgages and standard variable rate (SVR) mortgages, borrowers are resolutely staying on SVRs according to latest Halifax research.

Research from Halifax shows that just 10% of borrowers would look to change deals if they saw an increase in their monthly payments of between £25 and £50. 13% say that their monthly payment would need to go up by £100 before they consider switching to a fixed deal and 8% of borrowers say that they would only consider switching products if their monthly payments doubled.

Therefore, although fixed rates are becoming cheaper, research suggests that the benefit of moving to a fixed deal needs to be greater for the majority of borrowers, some homeowners, however should weigh up the overall cost of remortgaging alongside the certainty provided by fixed monthly payments.

Follow the Link for Mortgage Interest Rate News

Buying v Renting; Homebuyer Costs Have Nearly Halved Since 2008

According to research by Halifax it is over £130 a month cheaper to buy than rent.

The average monthly costs associated with buying a three bedroom house stood at £600 in June 2012; £132 (or 18%) lower than the typical monthly rent of £732 paid on the same property type. In 2011, the monthly cost associated with home buying was £78 (11%) lower than renting. Over the past year, buying costs have dropped by 3%, while the cost of renting has increased by 5%.

Home buyers - both first-time buyers and homemovers - put down an average deposit of £40,526 in June 2012, equivalent to a quarter (25%) of the property price. The average deposit required has risen by 68% (£16,387) over the past decade from £24,140 in June 2002.

For further news on UK House Prices follow the link.

Property Development Planning Levy

The Community Infrastructure Levy (the levy) came into force in April 2010. It
allows local authorities in England and Wales to raise funds from developers
undertaking new building projects in their area. The money can be used to
fund a wide range of infrastructure that is needed as a result of development.

This includes new or safer road schemes, flood defences, schools, hospitals
and other health and social care facilities, park improvements, green spaces
and leisure centres.

Follow the link for more information on Property Planning Charges

Hampstead Garden Suburb School Generates Property Price Premium

According to new research by Lloyds TSB parents face parting with almost £34,000 extra to secure a home close to the country's top performing state schools.

21 of the 30 top performing secondary schools in England have an average house price that exceeds the national average of £236,321.

6 of the 30 top state schools command a house price premium of over £100,000 compared to their surrounding locations.

Homes in the postal district of the Henrietta Barnett School in Hampstead Garden Suburb have the largest premium with homes trading at a premium of 91% (£394,282) to the average house price in neighbouring areas.

The school won Sunday Times State School of the Year 2011 and parents might considering private school fees may find the property premium a more worthwhile investment; Fewer than 10 independent schools can better Henrietta Barnett's achievement of 45.2% of all A-levels taken in the summer of 2011 returning A* grades. No other state school comes close.

Follow the link for House Price News and to searchHampstead Property

Top 10 Property Turn-Offs

With property owners struggling to sell in many parts of the country, it's a buyer's market out there. Vendors therefore need to make sure they do everything they can to secure a sale.

Hillary Osborne of The Guardian asked estate agency experts, including Paramount Properties' Robert Lazarus and David Warren, for the current top turn-offs for would-be buyers, and what sellers could do to avoid deterring people.

Follow the link for the Guardian's list of  the Top 10 turn-offs when buying a property

West Hampstead Farmers’ Market.

West Hampstead residents may have noticed the area’s latest tourist attraction – a large cow that everybody seems to want a photo with. The mystery of the random farm animal is over though, as we learned that the cow is gracing the forecourt of West Hampstead Thameslink station in preparation for the arrival of the West Hampstead Farmers’ Market.

Follow the link for more info the West Hampstead Farmers’ Market.

West Hampstead On Facebook, Twitter & Pinterest

Paramount are working with the local West Hampstead community to ensure you get the most out of where you live. An effective way for us to engage with the wider community is through social media, and we would love it if you could join us on these sites.

From promoting community events to providing you with exclusive local offers, we want our Facebook page to be a hub of information. We will shortly be running a competition through our page, so 'like' us now to stand a chance of winning. Next month we will also be offering our Facebook followers a book of vouchers to use in a number of West Hampstead businesses, providing you with discounts in local independent restaurants and retailers.

We are also active on twitter, tweeting property related advice as well as sharing information about North West London and communicating with local residents.

Pinterest is the latest social network we have joined, where we 'pin' property related images. You can find inspiration for your home and balcony, as well as innovative storage ideas and tips for creating your own home cinema. We also Pin images of West Hampstead and the local area, so if you are at a loss for what to do this weekend, check out our suggestions.

We really hope that you can join us on these sites - in fact, why not tell us on Facebook what you like most about where you live? We have a few prizes waiting for the best local tips!

Average House Prices in Greater London

 House prices and the number of transactions have risen this year, according to research from Acadametrics. Their July house price index shows that average property prices have risen by 3.2% on a yearly basis nationwide, climbing 0.2% compared to June.

Follow the link for more news on Average House Prices in Greater London

London Property Apps for iPhone, iPod & iPad

According to research from T-Mobile, estate agents are the best of the British when it comes to using mobiles to reach new customers.

According to Robert Lazarus, Paramount Properties have noticed a huge increase in mobile property searches over the last two years, with consumers increasingly reliant on their mobiles.

He explains that 'as more people turn to the internet over the summer, our position at the top of the search engines for searches means that the properties we list will be the first new clients see'.

Follow the link to download Paramount's West Hampstead Property Finder App which is compatible with iPhone, iPod touch and iPad. and equires iOS 3.2.2 or later.

3 Double Bedroom Flat for Sale. NW6

Elstow Grange, 40-42 Brondesbury Park, Brondesbury, London, NW6

3 Bedrooms
1 Reception Room
1 Bathroom

A well presented three double bedroom top floor flat (third) set in this attractive purpose built block in the heart of Brondesbury.

The property is situated within easy reach of Willesden Green (Jubilee Line Station) and the variety of shops and restaurants along Walm Lane and the High Road.

The property comprises an entrance hallway with two large storage cupboards; a spacious 14' reception room with marble flooring; a modern semi open plan kitchen with an integral 5 ring gas hob and oven and integrated dishwasher/washer dryer and a rear facing 13' master bedroom.

Other benefits include two further double bedrooms, a luxury bathroom incorporating a white three piece suite and heated towel rail, double glazing, gas central heating, communal gardens and no upper chain.

Brondesbury Flat for Sale