Of T h e W eek
Mortgage rises but don’t panic
H o l l in H a l l F a rm ,
P a in t e rw o o d , W h a l le y P r ic e : o n a p p l ic a t io n
A MOST desirable detached property in Whalley offers scope for expansion and the added benefit of stunning panoramic views across the Ribble and Hodder Valleys. Hollin Hall Farm, Painter-
wood, is a farmhouse of par ticular character, with hard wood double-glazing, a multi-fuel stove and exposed beams in the lounge, excel lent fittings, and set in gar dens and a croft of nearly three acres. Ribble Valley Estate Agents is marketing the property,
which has three double bed rooms and a spacious four- piece bathroom. Its central heating is by solid fuel, and the loft space of almost 30 feet square offers the possi bi lity of c reating further
rooms. Not only is there a stable
block with capacity for six horses, the yard includes a workshop 43ft. by 26ft., with ample parking and turning
areas. The property is freehold,
and the agents will be happy to give further details and price indication from their o f f ice at 6 King S treet, Clitheroe, 01200 427222.
Big r is e in f ix ed r a te s
ELECTION fever and fears of interest rate increases following May 1 st have doubled the sales of fixed-rate mort gages, according to one of Britain's biggest lenders, Birmingham Midshires
Building Socierty. A quarter of all home loans taken out so far this year are fixed rate mortgage deals compared to just 10 per cent in
the first three months of 1996. This time last year cash-back mort gages were all the rage, with one in three customers choosing this option.
Mark Robinson, head of borrowing at the society, said: “It’s a racing certainty rates will go up soon after the new Chancellor enters number 11 Downing Street as historically, interest rates have always risen after an election. City analysts are also predicting that ‘mortgage reates may reach eigh per cent by the end of the year. “There are three and five-year fixed rate mortgages available in the market place below seven per cent, but this type of rate will not be around long."
M I L L IO N S o f m o r tg a g e h o ld e r s a r e a lm o s t c e r ta in to fa c e higher b i l ls a s interest ra te s r ise sh a rply in th e m o n th s ah ead . Most leading economists now believe rates will go up by as much as 1.5 per cent by the end of the year. That would add more than £60 a month to the cost of a £50,000 mortgage. The rise is likely to be need ed to fight inflation, which is expected to start creeping up as the year goes by and the economy recovers. Many experts say interest rates should have gone up earlier in the year but the increase was delayed because of the strength of
the pound. A high pound means British
goods are more expensive overseas and therefore more difficult to export. Raising interest rates almost always increases the value of the pound even
more. David Kern, chief economist
with NatWest, said: “The rate will have to rise fairly sharply from May onwards.” But homeowners should not get too alarmed. Experts say a rise to the high levels at the beginning of the 1990s is extremely unlikely - and interest rates could actually fall again during
1998.
Mortgage Value
Mortgage rates: What arise will cost Base Rate
6%
£25,000 £151 £50,000 £302 £60,000 £362 £85,000 £513 £100,000 £604
6.5%. 7% 7.25% £161 £171 £322 £343 £387 £412 £548 £584 £645 £687
7.5%
£177 £182 £354 £365 £425 £437 £602 £619 £708 „ £729,
F ig u r e s a r e m e a n t a s a n a p p r o x im a te g u id e a n d a r e c a lc u la t e d o n a n in te re s t -o n ly m o r t g a g e a t 1.25% a b o v e b a s e ra te
F o r th e p u rp o s e off t h e s e c a lc u la t io n s in c o m e t a x r e l ie f h a s n o t b e e n in c lu d e d
They believe an increase over the next few months will reverse the current eco nomic boom so that unem ployment starts to rise again by the end of the
year. As unemployment rises, the interest rates will have to fall again to avoid a reces sion - and by the end of 1998 Mr Kern and hjs col leagues are forecasting an interest rate of 6.75 per cent, slightly higher than it is at the moment. . So the advice to home-own
ers and would-be buyers is:
Don’t panic. Property consultant Nigel Westeron said: “If you’ re planning on buying a home you should not be put off by a small rise in interest rates. “We hope this will avoid the crazy soaring prices of the 1980s - which weren’t good
for anyone. “Property remains a good investment but nobody should expect to double their money in a couple of
interest rates are currently
y o u r l o c a l e s t a t e a g e n t s
S E L L IN G R O U S E S ON
O U R P R O P E R T Y P AG E S T H IS W E E K A R E . . . .
• Mortimer Gorse & Ross . Black Horse Agencies
• Honeywell • Craig Estates .R ibble Valley
H iis week’s £10 ASDA voucher
winner is: Irene Perryof
Burnley
among the lowest we have had for decades and even if they do go u|3 slightly, they are unlikely to be excessive. . He said buyers wanting the stability or knowing exactly how much their mortgage will cost would do well to take out a fixed interest deal - as rates are currently very attractive but likely to be less so for cus tomers signing up in the months ahead.
R I B B L E E S T A T E
40 TAYLOR STREET, CLITHEROE
£28,000
24 BROOK STREET, CLITHEROE
£32,950 STREET. CUTHEROE
17 MONTAGUE £33,000
AWAITING PHOTOGRAPH i Modern 2 bed terrace
• Gas heating,
d.glazed ' Sitt room, iiv room, kit ' Convenient to town
5 M
ILLBR00K PLACE, BARROW
O.A. £57,500 • Attractive 2 bed terr
• Fully tiled kitchen ■ PVC double glazing • Ideal 1st time buyer
• 2 bed terrace - * Suit first time buyer ►
Good rear yard »Available immediately WANTED URGENTLY
PROPERTIES REQUIRED IN ALL PRICE RANGES TO SATISY A RAPIDLY INCREASING
REGISTER OF BUYERS WITH NO PROPERTY TO SELL!
• Mews style semi • 2 bedrooms, Gas CH • Adjoining fields
• Parking for 1
' 14 BEECHW0 0D AVENUE, CLITHEROE
£72,500
CALL NOW FOR AN IMMEDIATE VALUATION AND GET YOUR PROPERTY ON THE MOVE! TEL: 01200 427222
29 CASTLE VIEW; CLITHEROE
£76,500
15 BRIDGE END, BILLINGTGN
£76,950
»3 bed semi det houses ►
* Gas CH.
d.glazing ►
Cul-de-sac development Only one left
PENDLE COTTAGE, PENDLETON
£81,000 a s
• Mature 3 bed semi det • Quiet location ■ Est gardens > Gas CH, DG
45 PEEL PARK AVE, CLITHEROE :
£89,500
■ Substantial family house > 30’ lounge/dining area > Sep living rm & blast kit > Gas Ch. DG
CLITHEROE ROAD, W
LANGDALE, ADDINGTON
£89,750
■ Unusual 4 storey cott > Att river views > 3 bedrooms > Gas CH, part DG
97B BEECHMOUNT, W
ADDINGTON £95,000
> 3 bed end cottage • Walled rear garden > Tastefully refurbished > Overlooking stream
27 EASTFIELD DRIVE, WEST BRADFORD
£96,000
■ Del country cottage »2 beds, thro lounge/din > Excellent fitd kit • Adjoining open fields
: 2 PRIORS W e m
"BLENCATHRA”, ALK,
• Spac. 3/4 bed bungalow > Cul-de-sac position ■ Beautifully maintained > Prkg 4/5 cars, caravan
■ Detached cottage > 3 beds, 2 bathrms > Gas CH • First floor lounge
> Subst. 4 bed Fam House • 2 Bathrooms. GCH » Din Rm, Blast rm & kit • Detached garage
• Larger 3 bed terrace • Refurbished • Garden frontage • Gas CH,
d.glazed
CROFT COTTAGE, NEWT0N-IN-B0WLAND £85,000
»3 bed quasi semi »Superb views * Garden front and rear »DG, gas CH
1
• Delightfully situated cott • 2 beds, sep dining rm • Attractive rear garden • Parking space, gas CH
6 ALDERFORD CLOSE, | THE HOLM CLITHEROE
E, SABDEN
£86,500 I £87,000 ono w y m
• Period town house ►
Exc 3 bed accom
> Gas heating, ext refurb • Det 2 storey outbuilding
ROAD, CLITHEROE £87,500
87 W ADDINGTON
* Mod 3 bed semi * Attrac cuf-de-sac
»Gas CH, part
d.glazing »Large single garage
» 2 storey extension »3 beds, sep dining rm »Overlooks river . • Gas CH, part D G '
A R E Y O U S E L L I N G Y O U R P R O P E R T Y ?
market demand and conditions for your particular home and gives you the best possible opportunity of actually SELLING your property in a
Now more than ever it is vital to obtain a fair market valuation of your property when considering selling, a valuation that accurately reflects the current
reasonable period of time. Ring us for a free valuation by the experienced local experts on your property at your convenience.
HOLLIN HALL FARM, W
HALLEY OLD RD, BILLINGTON
AWAITING PHOTOGRAPH
• Link det true bungalow * 3 beds, sep dining rm • Gas CH,
d.glazing * Att breakfast kitchen
• Det true bungalow > 2 bedrooms ►
►
Beautifully maintained * Gas CH, DG
Substantial village prop
» Business potential if req »Large rooms,- gas CH * Parking for 2
* Excellent 3 bed det * Generous site
* Gas CH, DG »Double garage
■ Mod det house • 3 double bedrooms
»Views over the c/side * Parking for 3/4 cars
• Grade 2 listed town hse • 4 beds, spac. accom. • Small walled garden • Tastefully refurbished
• Recently built 4 bed det • Head of cul-de-sac • Large rear garden • Dble garage, GCH, DG
• St. Built Det Farmhouse • Idyllic location
• Gardens plus Croft • 3 double bedrooms
BlLi
• Det farmhouse & bldgs • Stable block for 6
• 2-and-a-half acre croft *
»Outstndig country hse ■ • 7 beds, 4 bath/shwr rms • Tastefully refurbished
• 3 beds, scope 2/3 more s • Overlooks open c/side ' 6 K IN G STREET . CLITHEROE • Tel: 427222
BRADFORD & BINGLEY BUILDING SOCIETY
BRANCH AGENCY
• 2 bed terraced • Sitt room, liv room, kit • Good sized rear yard • Suit 1st time buyers
► Modern 2 bed semi » Gardens front and rear
• Quiet cul-de-sac * Parking for 3 cars
NEW HOUSES: DEANS’ 7 ST PAULS STREET, MEADOW CLOSE - LOW M
OOR £57,950 £51,500
• 3 bed terraced • Garden frontage
• 2 reception, kitchen • Close open fields
8 VALLEY VIEW, GRINDLET0N
£64,500
> Mature semi det house • 3 bedrooms ►
Garden front & rear * Gas CH
14a WHINS AVENUE, SABDEN
£69,000
* Mature 3 bed semi ► ► ►
Quiet cul-de-sac
SHAWBRIDGE HOUSE, CLITHEROE-
£69,000
Parking for 2/3 care Approval for extension
0 * & \ k>-v-
. 4 bed end terrace • Garden frontage • Large rear yard • Gas CH, part DG
21 MEADOW VIEW, LOW M
OOR £68,500 *Mature det bungalow
• Beautifully maintained »2 double bedrooms »Gas CH, double glazing
68 RIVERSIDE, LOW MOOR -
£69,950
15 DERBY STREET, CLITHEROE
£37,500
18 RIVERSIDE,-LOW MOOR, CLITHEROE
£39,950
V A A G
18 VICTORIA AVENUE, CHATBURN
£42,000
18 FARADAY AVENUE, CLITHEROE
L L E Y E N T S
4 BEECH STREET, I CLITHEROE
£42,000 1 £43,000 73 W
HALLEY ROAD, CLITHEROE
M00RCR0FT, WADDINGT0N
£56,750 I £97,000 AWAITING PHOTOGRAPH
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32
