Property

QUALIFIED | EXPERIENCED | PROFESSIONAL

Manswood Guide £450,000

A delightful listed 2/3 bedroom terraced cottage set in a picturesque hamlet with parking, a stunning garden and a wealth of charm and character. No chain. EPC Exempt; CTB E. Freehold

Wimborne 01202 843190

Iwerne Minster Guide £425,000

A modern and versatile 3 bedroom property for the over 55’s in a quiet location with communal gardens and garage. EPC E; CTB E. Leasehold: 999 years from 1984. Service Charge: £5,828 per annum

Blandford 01258 452670

Sherborne Guide £295,000

A charming Grade II Listed 2 bedroom cottage with beautiful period features running throughout, situated in the sought after Abbey town. EPC Exempt; CTB B. Freehold

Sherborne 01935 814488 Broadstone Guide £900,000

A charming Edwardian 4 bedroom house for modernisation with a double garage, set in a large garden in a sought-after location within the village. EPC F; CTB G. Freehold

Wimborne 01202 843190

Priestlands Guide £925,000

A substantial, 5 bedroom, detached family home with charming period features throughout set within a generously sized plot located on a sought-after residential road in central Sherborne. EPC C; CTB G. Freehold

Sherborne 01935 814488

Guys Marsh Guide £725,000

An imposing and stylishly presented 5 bedroom detached house with a large garden and gorgeous views. In all 2.08 acres. Subject to an Agricultural Occupancy Condition. EPC C; CTB F. Freehold

Sturminster 01258 473766

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NEW INSTRUCTION NEW INSTRUCTION

£485,000 Bayford £195,000 Wincanton

A three bedroom detached house with delightful views over adjoining fields. A delightful two bedroom end of terrace period cottage full of charm and This is a fantastic opportunity to enhance, modernise and extend (STPP) character situated within easy reach of the town centre. There is a cosy to create a wonderful family home. Kitchen/dining room, lounge with open sitting room with an open fire and exposed timbers, fitted kitchen, large fire, conservatory, utility room, shower room, garage/workshop, no forward master bedroom, stylish bathroom, cottage garden with outhouse/utility chain. EPC Rating: E. Council Tax Band: E. Tenure: Freehold. WINCANTON £410,000 SOUTH CHERITON £430,000room and GCH. EPC Rating D. Council Tax Band: B. Tenure: Freehold.

An individual and deceptively spacious four bedroom detached bungalow which enjoys the benefit of a large landscaped garden. Characterful sitting room, separate dining room, large kitchen/breakfast room, master bedroom with dressing room and en-suite and useful attic room. EPC Rating: D.

£245,000 Wincanton

A substantial three bedroom detached bungalow situated in a small close in the sought after village of South Cheriton. Spacious sitting room with open fire, separate dining room, kitchen/breakfast room, utility/boot room, en-suite shower room, attractive landscaped garden and garage.

NEW INSTRUCTION NEW INSTRUCTION

A delightful 3 bedroom semi-detached house comprising spacious sitting/dining room, fitted A spacious four bedroom terrace house situated within a short walk of local schools. The property enjoys the benefit of a loft conversion creating BRUTON £225,000kitchen, stylish refitted bath/shower room, attractive sunny aspect garden, garage, off road parking. EPC: TBC. Tax Band: C. Freehold. An exceptionally well presented three bedroom semi-detached house with stunning far reaching views over Wincanton and countryside beyond. WINCANTON £226,500 a master bedroom with dressing room/study and en-suite. Spacious Sitting room, stylish fitted kitchen, master bedroom with en-suite lounge/diner, fitted kitchen, private garden, garage and no forward shower room, cloakroom, driveway and garage alongside property, chain. EPC Rating: C. landscaped garden. EPC Rating: C.

£285,000 Wincanton

Spacious family home requiring updating providing the opportunity to create a home to your own taste and style. Three bedrooms, two reception rooms, garage, garden. EPC: G. Tax Band: B. Freehold.

Thinking of Moving? We have just enjoyed another successful month of completed house sales leaving us in the position of requiring more properties to meet the demand from buyers looking for a home in the local area. If you are considering bringing your property to the market we would be delighted to provide you with a free market assessment and valuation. Please call 01963 34000 to arrange an appointment or email wincanton@hambledon.net

NEW INSTRUCTION NEW INSTRUCTION

An attractive two bedroom mid terrace house situated in a small close on a mature development. Spacious sitting room, kitchen/diner, bathroom, easy to maintain garden, allocated parking, ideal investment or first WINCANTON £145,000 A spacious two bedroom semi-detached house situated on a popular residential development. The property is presented in excellent order and enjoys the benefit of a car port, long driveway, enclosed garden, sitting WINCANTON £179,950An attractive three bedroom Victorian semi-detached house situated in the heart of Wincanton. This delightful home blends modern day living with charm and character. Sitting room with wood burner, dining room, fitted £290,000 Wincanton £249,000 Wincanton A two bedroom semi-detached bungalow situated on a popular mature development within easy reach of local amenities. The property enjoys a light and airy living/dining room, fitted kitchen, bathroom, double glazing, time buy. EPC Rating: C. kitchen, huge bath/shower room, cloakroom, gardens and off road parking. room, fitted kitchen, conservatory and potential to extend (STPP). garage and easy to maintain garden. There is also the benefit of no forward EPC Rating: D. Council Tax Band: C. Tenure: Freehold. EPC Rating: D. chain. EPC Rating: D. Council Tax Band: C. Tenure: Freehold.

Wincanton Tel: (01963) 34000 WINCANTON 01963 34000 WINCANTON 01963 34000 Gillingham Tel: (01747) 824924 GILLINGHAM 01747 824924 Shaftesbury 01747 851151

Shaftesbury Tel: (01747) 851151

SHAFTESBURY Sturminster Newton 01747 851151 Tel: (01258) 472647

STURMINSTER NEWTON 01258 472647 HAMLET LETTINGS 01963 34006

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What does the rise in interest rates mean for homeowners - and buyers?

LAST week, the Bank of England (BofE) announced a 0.75 percent rise in interest rates, to 3 percent - but what does that mean for homeowners and those hoping to buy?

The rates are now the highest they’ve been since 2008, and the three-quarter percent rise is the biggest single increase in more than 30 years - but it had been expected, as the BofE attempts to stifle inflation.

The Government sets the Bank of England an inflation target of 2%, but the current level is much higher, at 10.1%.

Will this make it harder to get a mortgage?

There’s now more stability in the financial markets. So we’ve seen an increase in the number of mortgage deals available recently, and the cost of fixedprice deals has started to fall, says property website Rightmove.

“Many of the deals mortgage lenders are currently offering have already factored in an interest rate rise of 0.75%, because it was expected. So it’s unlikely the rise will lead to an increase in the pricing of mortgages,” a spokesperson said.

“That said, lenders have tightened their affordability criteria over recent weeks. This is to make sure people are still able to afford their mortgages, were their payments to increase.”

First-time buyers who are already stretching themselves financially to try and get onto the property ladder might find it more difficult to get a mortgage, according to Rightmove property expert, Tim Bannister.

“It’s important to look beyond the headline numbers. Mortgage brokers and lenders will be able to help people assess the different options available to manage their costs and see if they can afford to move,” he said.

“What we’re hearing from estate agents is that people are taking a medium- to long-term view when weighing up if now is a good time to move. If they know they can afford the mortgage payments, and they’ve found a home they love, then they’re determined to try and make it work.” What could the interest rate rise mean for your mortgage? If you’re on a tracker rate mortgage, you’ll most likely see your monthly repayments increase shortly. This is because the amount that’s repaid is usually set according to the current interest rate, plus a set percentage. If you’re on a fixed-rate deal, the interest you pay is set until the end of your term, which means today’s announcement won’t affect your current monthly repayments, at least until your current deal ends.

When your fixed-rate deal does come to an end, you’ll automatically be switched to a Standard Variable Rate (SVR) unless you lock in a new fixed deal.

Lenders determine their own SVR, as this type of mortgage doesn’t directly track the BofE interest rate. And most lenders have passed on all recent interest rate changes to their SVR.

Why do interest rates keep rising?

The Bank of England is tasked with ensuring inflation is low and stable, as high inflation means all of the goods and services we buy cost more.

When inflation is high and there’s too much money being pumped into the economy, chasing too few goods, the Bank of England raises interest rates.

Higher interest rates mean it’s more expensive to borrow money, and people then have less to spend. This results in money being drawn out of the economy, and instead being spent on the cost of borrowing, including things like mortgages.

House prices fell for the third time in four months, Halifax figures show

HOUSE prices in the UK fell for the third time in four months in October, according to new figures.

The Halifax House Price Index showed the average cost of a property dropped by 0.4 percent for the month.

It was the sharpest fall since February 2021, the lender said, and took the average house price to a five-month low, of £292,598.

Kim Kinnaird, director of Halifax Mortgages, said: “While the pace of annual growth also continued to ease, to +8.3% compared to +9.8% in September, average prices remain near record highs.

“Though the recent period of rapid house price inflation may now be at an end, it’s important to keep this is context, with average property prices rising more than £22,000 in the past 12 months, and by almost £60,000 (+25.7%) over the last three years, which is significant.

“While a post-pandemic slowdown was expected, there’s no doubt the housing market received a significant shock as a result of the mini-budget which saw a sudden acceleration in mortgage rate increases.

“While it is likely that those rates have peaked for now – following the reversal of previously announced fiscal measures – it appears that recent events have encouraged those with existing mortgages to look at their options, and some would-be homebuyers to take a pause.

“Understandably we have also seen consumer caution grow, as industry data shows mortgage approvals and demand for borrowing declining. The rising cost of living coupled with already stretched mortgage affordability is expected to continue to weigh on activity levels.”

She said the upcoming Autumn Statement could also point to a ‘slower period for house prices’.

“While certain longer-term, structural market factors which support higher house prices – like the shortage of available properties for sale – are likely to remain, how significantly prices might ultimately adjust will also be determined by the performance of the labour market,” she added.

“Currently joblessness remains historically low, but with growing expectations of the UK entering a recession, unemployment is expected to rise. While it may not spike to the same extent as seen in previous downturns, history tells us that how this picture develops in the coming months will be a key determinant of house price performance into next year and beyond.”

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Wincanton • Gillingham • Sherborne • Mere • Castle Cary • Bruton

Charlton Musgrove £735,000 Wincanton £425,000 Wincanton £375,000 Wincanton £330,000