^ i r n ^ r i T m . Y l H i T AND s e l l in g in t h e k ib b l e v a l l e y PROPERTY in association with trail !?> "/r-—-.ft YOUR ESSENTIAL GUIDE
Favourable prospects for buyers
HOUSES rema in h ighly a f fo rd ab le , with prices set to rise by a sustainable 5% by the end of the year, according to Midland Ban k 's Housing
Barometer. A fall in the number of
properties changing hands has been caused by rising interest rates, which the bank now believes are close to their peak. With repayments not likely to rise further, and house price inflation in line with incomes, the Barometer forecasts favourable prospects for
homebuyers. Midland’s Barometer
takes into account not ju s t house prices, but transaction volumes, dis posable incomes and bor rowing, to measure overall pressure in the housing
market. The Barometer has
noted a significant climat ic change in the housing market. While mortgage lending has remained buoyant, this has been due to an active rc-mort- gage market, rather than demand for new extra borrowing, which has
remained modest. "While house price
inflation has slowed, prices are still rising in line with incomes, and this is the key to a healthy and sustainable housing market," said John Massey, head of mortgages at Midland
Bank. "We believe that inter
est rates are close to their peak which means that, whether you measure the cost of buying a home against incomes or repay ment costs, property is - and should remain for the foreseeable future - very affordable."
Impact Lower transaction vol
umes have also had a modest impact on indus tries associated with the properly market, notably house-building. New housing developments were 2% lower in the first half of 1998 than the first
half of 1997. The national picture
disguises considerable regional variations,with housing starts still buoy ant in the south. In Greater London, housing s ta r ts were a quarter
higher than in 1997, in the south west 3.8% higher. The north of England also recorded an increase in housing s ta r ts of
11.5%.
and Wales, new building starts have fallen, most notably in East Anglia (by one fifth) and York shire and Humberside (by
In the rest of England
one tenth). The imbalance between
the south and the rest of the country largely reflects imbalances in the wider economy. Economic growth in the past year has been predominantly in the service section rather than manufactur ing, thus favouring the south over the rest of the country. Conversely, as it is man
, ,
HERE is the opportunity to acquire a most impressive modern detached residence, which occupies a prime elevated position, commanding splendid open views over the lake and picturesque surrounding coun
tryside. The property affords extremely
ufacturers in general, and exporters in particular, who are bearing the brunt of the current economic slowdown, regional dis parities in the housing market are likely to con tinue for the rest of the year. However, the overall forecast for the mortgage market in the next 12 months is fair, with stable or falling interest rates ensuring tha t property remains very affordable.
spacious four bedroomed family living accommodation, with rooms of a very generous proportion, and really must be viewed internally to be fully appreciated. It is ideally positioned in a quiet cul-de-sac of similar distinctive residences, which makes Noyna View a most pleas ant and highly desirable location in
which to live. , The well-presented interior bene
fits from gas fired central heating, which is complimented by uPVC double glazing. A security alarm system has also been installed for
p p L * , - _
Mortgage protection makes good sense
IMPRESSIVE: 10 Noyna View, Colne, - £169,950.
Highly desirable very impressive
PR0PER1Y Of THE WEEK
that extra peace of mind. Worthy of particular mention is
the extensive private garden to the rear of the property, which has an abundance of mature trees, and has been laid mainly to lawn for ease of management. This garden provides a splendid haven of peace and tranquility, and is absolutely
ideal for children. The property is being offered for
sale by Clifford, Smith and Buchanan, 79-81 Scotland Road,
Nelson, tel. 693182, or 1 Market Street, Colne, tel. 860606.
THIS week marks the third anniversary of the cut in State support for mortgage interest repayments iiin the event of accident, sickness or unemploynwnt, but Midland Bank research shows that only one in three homeowners (up to 3m) said they had mortgage rcDavment protection insurance.
Midland’s figures, prepared by NOP, also reveal
would be unable to pay their mortgage for the nine _ months before they qualify for state support for their mortgage. I t would cost a typical homeowner just £18 a month to protect their repayments (on average
A further one in five homeowners admitted they ... , ,
£3”We are alHnclined to bury our heads in the sand when it comes to thinking about an accident, long term sickness or unemployment affecting our income. Many homeowners who decide not to P ^ e c t thei mortgage repayments are worried about the cost, bu these are the very people who can’t afford not to protect their borrowing,” said John Massey head of Midland Mortgages and Chairman of the Council
Mortgage Lenders (CML).
thousands of mortgage customers keep uptheir repayments, and our experience clearly demonstrates that homeowners cannot afford to be complace .
"Midland has paid out millions of pounds to help ,
value of mortgage repayment cover. While the _ mortgage market remains fairly buoyantoverall, uv the first half of 1998 repossessions rose by 9.6 h over the second half of 1997.
Industry figures from the CML al®° Mortgage repayment protection is available from .
Midland for £5.88 a month for every £100 covered. In addition, any customer taking out a Midland mortgage will receive six months' free repayment
I protection, with no commitment. NEW DEVELOPMENTS NE\A/DEVELORMEhJtSv GOING, GOING.... GONE!
Last 2 remaining delightful bungalows on an executive development at
Castle Court Heights (Off Kirkmoor Road)
Incorporating high class kitchens of distinction. Integrated dishwasher and fridge freezer.
Luxurious Victorian en-suite
bathroom with designer tiling, leading to master Bedroom. Separate shower room for guests and separate dining
area. Landscaped gardens with feature brick wall for privacy. Garage.
For an instant viewing by appointment telephone
Preston 01772 252222 (day) or 01772 715725 (eves)
ONLY ONE RE
mmmmm wm m BEAUTIFULLY
O N E C K O I ’ l l ’ A I IK
BUILT IN STONE. MA AND WITH
IJ
GNIFICENT VIEWS. Stonccroft Park
Is one of the North Weit’i
moil exclutive developments. Comprising just 12dcuched properties built In the heart of rural Lancashire just
minutes away from picturesque Clitheroe. All the properties arc
itonebuilt to the highest standards and include: En Suite Bathroom Gas Fired Central Heating.
Quality Double Glaring. Fully Fitted Kitchen with Oven, Hob, Extractor Hood and Dishwasher, and adjoining Utility Room.
LANGTREE n / ■5>SE 22c PRESTON ROAD STANDISH. WIGAN WN6 0115 *1 01257 423399
PRICES FROM
O N L Y £S7,99JL
SUOWIIOMES OPEN
call now on 01200 443795 or r^OC uWHOrjjNE
lZ 1
FRIDAY to MONDAY For further details
11 am to 5pm
Mortimer Gorse&Ross
The Octavia P lo t Extra Features
14 24 25
M0CKHALL VILLAGE are two good reasons for not bothering! U th e h e a r t o f th e KIBBLE VALLEY *-> | Outstanding Offers on Bungalows!
I f you really don’t w a n , to purchase a n ew bungalow in the Ribble Valley before Om s tm a s h e r e
♦ Bungalows are always small, have poky hallways and never Teel’ like family homes. ♦ People are holding back from committing themselves at the moment because of market uncertainty
and worries about the economy. ^ t Z r i e f n f t l i f o r buying a Oran* new bungalow a t Bmcbbal, m a g e , tbe bear , o f ,b e
Pendlc Hill. Each individual property has a stunning entrance hall, a full twelve square foot of circulation space; not only do they feel like proper homes, indeed, they feel like‘imposing’family homes.
♦ Brockhall Village Ltd is committed to the confirmed growth of our secure
village community. Our reaction to the slowdown in the nf rket |s Posl^ bv offering a 10% cashback on selected plots for people who will beaUtUe bold whilst others hold back. Legal completion prior to Christmas 1998 is
the only condition attached to this offer.
♦ As well as having a wonderful rural ambience, BrockhaU Village offers real security. There is only one road into the village, manned 24 hours a day, 365 days per year from the permanent security lodge.
. ,r ,o . have a p ro p e r » *U .„h y »o. .aka aPvan.a^ of our 10°% Pa« ------------- Price Exceptional views over farmland to l enciie niu
Three bedrooms Fully carpeted throughout
*155,000 *159,000 *145,000
> ^ 1 Cashback
£.15,500 £15,900 £14,500
We also have 4 & 5 bedroom detached houses available from £150k
r 0 “ D & T S r r w l5 S L - .he N o i of .he Preston/CUtheroe IW , , Uo8h„. _ Blaehho.o, Turn North at the Northcotc Manor Hotel (by the large roundabout) and follow the signs.
PROPERTY FOR SA L E PROPERTY FOR SALE
J.Sv ATHERTON & CO, FOR SALE
■•••
W O O D E N D C O T T A G E h iu o y intow. c h a ig i .k y - .
Offers around £225,000 invited.
AVoodcml Cottage is rulctnchod residence which has Ibecn converted from n former fann Jwlldlng. ttijjj,
[lies in approximately half an acre or thereabouts of laitnirn area. -The accommodation comprises.
. Appttlnmir M mile. (a«,l
.AaawH. fclicM hoa» • Arpm
nra«.iy R a IIBATF.U Sw Im MINO POOL con- .S ' r f S i l l n a niuc'Bl.'.VC |U h i llctnchca JouWc e»ra8c aiul a U.I|.pmS foor mik. r,«n
WOOOKNl) COTTAOIt niRUY nUOW Oltm la Ike wllea of til,WO
V n,c ou. e.,.ch i im a
O/M/hulcdIncilloncloseii»t»nk*orKlveflitwiXf . *. •
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New to Market ; BRICK HOUSE BARN NEW LANE, WlTHfilLL, Nr,
C1.1TH1-.ROE . Offmtmh* m b * oJtYISfiQQ .. - , •
REMOVALS ^________________
SPENCE REMOVALS Rcc- omm en d o d fo r coro, q u a l i ty a n d v a lu e . Local a n d n a
- t io n a l . s to ra g e , e s ta b l ish e d
f o r 6 9 : y e a r s , . T o L .0 1 2 8 2 4 2 4 3 2 4 .
ABBEY, R EM O V A L S T a r t / ; fu ll i r em o v a ls , lo c a l a n d lotui tl ls tan c e . D,S.S. eBtl- m a te s a n d f r e e . .p a c k in g c ase s . Tel: 0 1 2 8 2 8 3 1 6 6 1 .
MAN AND VAN -R em o v a ls . T e l : ( B u rn le y v 4 2 7 2 8 2 .
• 4 5 3 9 1 1 o r m o b , ( 0 9 7 3 5 2 8 9 8 6 .
* Further iletalh contact J-5. Atherton & Co^ . - "m
CtltTMEROE REMOVALS ! sl no lc Rot ^s /f^ H v lo a d s . 0 8 0 2
4 4 1 0 B8 , (7 d ays) < 5 3 6 4 0 0 . - , 0 1 2 0 0
EOR SMALL REMOVALS Te l. 0 1 2 8 2 4 2 3 T3 7 a f te r 6 .;
th .
that a quarter of these homeowners have no Heahow they will repay their mortgage if their circumstances change; 15% said they would have to rely on their savings to keep up repayments.
FAST EASY ACCESS TO COMPETITIVE QUOTES
0800 5976444 Professional Independent Advice
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