How to make an offer and avoid overpaying for a home

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 18 September 2020

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Britain is in the grip of a mysterious property mini-boom.

Talk of a property market more buoyant than it’s been in years, of viewings and offers flooding in and family homes in hot demand, doesn’t seem to just be the usual estate agent puff.

Evidence from mortgage reports, surveyors and data on estate agent activity, appears to bear this out.

The stamp duty holiday and lockdown itchy feet have combine to make parts of the market a sellers’ one, so as a buyer what can you do to get a decent offer accepted and avoid overpaying?

On this week’s podcast, Simon Lambert, Georgie Frost and Lee Boyce talk buying homes. They discuss what’s going on, whether all parts of the market are flying (not quite), why some homes go to above asking price offers but others linger, and how as a buyer you can get a good deal, while as a seller you can also try to go under offer swiftly at a decent price.

Also, on this week’s show, the team discuss the rise of the lockdown trader and why more people – and younger ones at that – are buying shares.

They look at inflation and how many savings account beat it.

And finally, why has the Royal Mint said it probably won’t need to make anymore 2p pieces or £2 coins for a very long time?

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to This Is Money podcast brought to you in partnership with Charles Stanley Direct,
0:04.6	the award-winning investment platform trusted by over 40,000 clients. Investment involves risk.
0:10.9	I'm Georgie Frost, and alongside me and editor Simon Lambert today is Assistant Editor Lee Boyce.
0:16.2	And on the menu, the lockdown mini-housing boom has left buyers battling for homes and sellers death to the
0:23.8	sound of haggling. We give you some top tips on how to get your offer heard. Plus, ask should you
0:30.0	ever pay over the asking price. Experts say buyers beware. Elsewhere, inflation has hit a five-year
0:36.4	low, but still only 11, yes, 11 savings accounts
0:40.4	from our seven biggest banks can match the lowly 0.2 percent. Where on earth do savers turn?
0:47.9	To trading, perhaps, we look at the rise of the lockdown share trader and ask, will it last?
0:52.7	A victory of sorts for small businesses is the
0:55.2	high court tells insurers to pay out to those forced to close by coronavirus pandemic, but
1:00.4	they could be waiting for months. And to pee or not to pee? I'm talking about coins, by the way.
1:06.7	The Royal Mint says no more new two peas or two pound coins to be produced for at least the next decade.
1:14.8	Is it time again to talk about the death of cash again this week as well?
1:19.5	We will discuss that too.
1:21.7	And don't forget, stay up to date with all the latest breaking modern news.
1:24.4	Just go to this ismoney.com.
1:25.8	UK or download the app. But first, house prices are this ismoney.com.uk, or download the app but first.
1:28.5	House prices are not my favourite subject, caveat.
1:32.3	Pretty bonkers at the best of times, but post-lockdown buyers have gone a little bit more nuts, it seems.
1:39.0	Despite the deluge of economic gloom and doom, prices keep soaring.
1:42.9	Estate agents reckon it's the frantic buyers
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from This is Money, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of This is Money and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.