As Manchester city centre continues to grown (https://www.manchestereveningnews.co.uk/business/business-news/manchesters-success-danger-killing-soul-14260676) there is a certain proportion of people living in Manchester who are beginning to think that "enough is enough". With ever increasing house prices and rents in the city centre, Manchester residents are having to move out of town in order to find affordable houses.
As big business takes over the city centre, many former homes are being demolished in order to accommodate skyscrapers that many see as the homes of the future. Central to this migration from the heart of Manchester to the outlying areas of Sale, Didsbury and Bury are Manchester mortgage advisors Manchester Mortgages and I spoke to Andy Butterworth, one of the Directors of the firm.
"There's certainly a lot of people looking for mortgages in the popular areas of Manchester at the moment" he commented, "Places like Withington and Sale and Bury are always popular, but supply is limited. This has caused people too look for houses in areas further afield like Salford and Oldham". Not the first places on many people's location lists, houses in Salford and Oldham are often cheaper than their counterparts in Didsbury and Bury. "It's all about the area you live in", continues Andy. "Buying a house in Bury or Didsbury you'll find strong local economies and a strong feeling of belonging. Houses in Salford and Oldham are not as attractive to people because the areas aren't seen as that strong".
Manchester Mortgages have seen several recent mortgage broker transaction for the £200,000 to £300,000 mark in Sale, and Bury, and buying a house in Didsbury is even more expensive. As mortgage brokers and advisors in all these areas arranging a mortgage can be straightforward as long as 1. You have a sufficient deposit 2. You don't have a poor credit history
Says Andy, "Credit histories can kill a mortgage application and prevent you buying a house. Fortunately there are ways around it but you have the know the in's and out's of the mortgage application". This is where Manchester Mortgages scores significantly - they can get many Manchester people mortgages in a variety of personal circumstances.