Established in 1990, The Mortgage Shop quickly became the Island's principal mortgage brokerage. We are proud of the way our large client base regularly recommends us to family, friends and colleagues, confident that our knowledge and expertise, along with our efficient and friendly service is always available.
Every month we consistently arrange mortgage funding of anything up to £15 million, so allowing hundreds of local people to realise the dream of owning their own home.
The Mortgage Shop
31 Broad Street,
St. Helier JE2 3RR
DECEMBER 2011
The 2012 Budget debate in the states gave a strong message of support to the Island's population, with a blend of sensible expenditure on projects that will benefit the community as a whole as well as improvements in tax thresholds for low income groups, much needed tax relief on childcare costs, no increase on fuel, but increases on tobacco and alcohol.
In an endeavour to help boost the property market, the States , also extended the ceiling for relief on stamp duty for first time buyers from £400,000 to £450,000. On its own this news might not have much impact on most people, until it is realised that the majoiry of purchases for first time buyer families are in this very narrow band of value, with the average price for a three bedroom house currently standing at £431,000.
Interest rates remain stable, although the continuing instability in Europe seriously threatens the ability of British banks to maintain low fixed rates for much longer, so it is best to factor in an increase across the board of 0.50%. Tracker rates, which are linked to Bank of England base rate will not be affected and economists are now predicting that this key rate will remain low until at least 2014
Don’t forget you can pop in to The Mortgage Shop any week day between 12pm-2pm to take advantage of our 5 minute review –this will give you a snap shot of how much you can borrow and what your costs will be before you start looking for a property to buy.
