13 years of savings!

Recent research revealed it takes 13 years for an average single first-time buyer in England and Wales to save for a deposit, while it takes a Londoner 46 years.

It also found that the Lifetime ISA, which was announced in the Budget, will help first-time buyers in London save for a deposit 19 years faster.

Slightly softened lending criteria, and the addition of Help to Buy, a government-backed scheme that requires just a 5pc deposit, have contributed to the shorter time time taken to save for a home.

Ralph Wyrley-Birch, Managing Partner of Mount & Minster in Lincolnshire, said: “Affordability is still difficult for first-time buyers, but things did get better in 2015. House price growth slowed in England and Wales while wages increased, making it easier for first-time buyers to save up a deposit to buy their home. Conditions are hardest down south where house prices have surged since the crash.”

chartHe went on to say: “More first-time buyers and would-be trader-uppers are finding themselves ill-equipped to cope with current house prices given the tighter lending criteria and average earnings lagging well behind house price growth. However, stronger growth in average earnings would not have helped the situation as it would simply have enabled buyers to bid prices up even higher, chasing the limited supply of suitable housing stock.”

This comes as a survey commissioned by Shelter showed that three-quarters of Britons said they worry that future generations will never be able to find a “forever home” that they can settle down in. The research, which was carried out as part of the housing charity’s 50th anniversary and as part of their Great Home Debate, also found that people aged 25-34 move once every five years of their lives compared to once every 12 years among pensioners.


New research has confirmed that as ever, it’s money, stress and time constraints that remain the biggest fears for UK homeowners when selling their home.

Over 1,000 UK homeowners were surveyed and asked ‘when selling a property, what are the top three things you fear the most?

Despite UK homeowners currently enjoying a very buoyant UK property market, securing the right price still tops the list of fear factors.

55% of those asked said not getting the price they wanted or needed was their primary fear when selling, with the stress of the selling process the second biggest fear factor for 46% of homeowners.

Time constraints completed the top three fear factors, with 43% of homeowners afraid they wouldn’t be able to sell their home in the time they needed to.

Other fear factors stated by UK homeowners included paying too much in estate agent fees (36%), finding a new property to live in upon selling (22%), dealing with the buyer (14%), picking the wrong estate agent in the first place (12%), getting a mortgage for their next home (10%) and that their new property might drop in value in the future (4%).

Not getting the price wanted or needed: 55%

The stress of it all: 46%
Not being able to sell in the time needed: 43%
Paying too much in estate agents fees: 36%
Finding a new property to live in: 22%
Dealing with the buyer: 14%
Picking the wrong estate agent: 12%
Getting a mortgage for the next property: 10%
The next property dropping in value in the future: 4%

Mount & MinsterRalph Wyrley-Birch, Managing Partner of Mount & Minster, comments: “Price is always going to be the primary concern for UK homeowners and it is only natural that securing the best price will weigh heavy on a seller’s mind. Generally speaking, our home is the most expensive asset we are ever likely to own and for the majority of us, our home is our nest egg, setting us up for retirement when we do finally sell and downsize. So it’s understandable that it be the biggest fear during the selling process, as that couple of extra thousand gained or lost, can make a big difference in the grand scheme of things.

Previous research found that selling your home is one of the most stressful events to go through and so it doesn’t surprise me that this also ranks highly amongst UK sellers. When you add time constraints to an already laborious process, you can see why selling a home in the UK can seem a daunting task and evoke such feelings of fear.

At Mount & Minster, we take the stress out of the whole process from start to finish. The personal touch is important which is why we go out of our way to go beyond our clients expectations.

There are many lettings agents out there, all offering different services and choosing the right one can be time consuming and confusing.

Trust and reliability are key. Mount & Minster put together these 3 top tips that will help you pick the best agent…
Mount & MinsterTimescales

It’s always good to find out before instructing an agent how long it will take for them to let your property out. Obviously a definitive answer couldn’t be given due to factors such as location and the property itself, however a good agent will be able to tell you if they think your property will take a little longer. How many people do they have on their database that they could contact? That’s always good to ask. Prospective tenants on the lookout may have left their details, if the agent contacts them they might just be interested!

Tenant reliability

How reliable are the tenants that the agent can provide? If the agent fails to do in-depth referencing then you could end up with a bad tenant on your hands. A good agent will be able to provide you with a tenant that has been fully referenced, credit checked and also had the required right to rent checks which came in to action on 1st February. Find out from the agent which checks they carry out and at what stage the checks will be done in the process.

What makes them better?

A good question to ask the agent is what makes them stand out from the crowd…if all they can give you is a good cup of tea then perhaps collect your belongings and head to a café instead. What exactly makes them better than their competition, as we said at the start of this post, there’s so many agents for you to choose from so why should you pick them? For instance; are they RICS accredited and Chartered, how swiftly would they be able to deal with maintenance issues and how frequently will they carry out inspections of the property.

Ultimately, you want to be able to draw a list of what different agents can and can’t offer – that way you can then work out which agent will provide the best all-round service and essentially, find tenants for your property. Here, at Mount & Minster, we believe you’ll be hard pushed to find better.

The latest report from Rightmove has shown that as demand soars and supply remains tight, the average price of a property coming to market in England and Wales passes £300,000 for the first time.

There are serious challenges facing both first-time buyers and those venturing further up the property ladder as in just 10 years new seller asking prices jump from from £200,980 in March 2006, to £303,190 today.

The price surge is not just restricted to the south with six out of ten regions setting record price highs this month. London no longer leads the pack as prices stand still.

The mismatch between supply and demand has resulted in six new record highs over the past twelve months in the price of property coming to market. However, this month sees a particularly significant milestone as the average breaks through and beyond the £300,000 mark for the first time. Today’s asking prices are now over 50% higher than they were ten years ago. This highlights the growing housing affordability gap now affecting more and more aspiring first-time buyers and potential trader-uppers.Lincolnshire House Price

Miles Shipside, Rightmove director and housing market analyst comments: “While the start of 2016 has seen an encouraging but modest uptick in the number of properties coming to market, demand and momentum have combined to push prices over £300,000. On average 30,000 properties have come to market each week over the past month, up by 3% on this time last year, but there are insufficient numbers of newly-listed properties in many parts of the country to meet demand. Visits to the Rightmove website are up by 14% in early March compared to the same period in 2015, so it’s no surprise that those buyers who can borrow more or can find some extra cash are keeping the price merry-go-round spinning, even though increasing numbers of aspiring home-movers cannot afford the ride.”

The increasing challenges of both getting onto the ladder and trading up are highlighted by the 50% increase in the price of property coming to market in just 10 years. With that timespan including the period after the credit crunch which saw several years of falling or stagnant property prices, it shows the strength of the recovery for today’s £303,190 average to be over £100,000 higher than the £200,980 of March 2006. In contrast, average wage growth of 22% over the most recent ten years has failed to keep pace with CPI inflation of 26.8%2 which highlights the well-documented issues of raising a deposit and affording a mortgage. The rebound from the housing market downturn has been driven by underlying demand, greater availability mortgage lending, and the economic recovery. The release of this pent-up demand and the shortfall in housing supply are resulting in insufficient availability of affordable stock in many locations.

Shipside adds: “More first-time buyers and would-be trader-uppers are finding themselves ill-equipped to cope with current house prices given the tighter lending criteria and average earnings lagging well behind house price growth. However, stronger growth in average earnings would not have helped the situation as it would simply have enabled buyers to bid prices up even higher, chasing the limited supply of suitable housing stock. In last week’s Budget the Chancellor could have encouraged landlords and second home owners to sell their properties and improve supply if he had extended the reduction in Capital Gains Tax to include those transactions. With no other significant property-related new measures in the Budget it at least allows time for his raft of recent initiatives to bed in.”

This month’s national average 1.3% jump in the price of property coming to market is the second-highest at this time of year since the 2008 credit crunch. The break through the £300,000 mark is not being driven by London, where prices are at a standstill. Upwards price momentum and stretched affordability are spreading north and west, with six out of ten regions achieving record asking price highs. All four southern regions are joined by the West Midlands and the North West, with the East Midlands being only £373 shy of an all-time high.

Shipside observes: “Three out of the top four risers this month are northern regions, with the West Midlands, the North West, and Yorkshire and the Humber being tucked in the slip-stream of the South West and ahead of all the other southern regions. London is a shadow of the former price-rise power-house that has driven up national averages over the last five years, and is now a myriad of different local markets with some boroughs dramatically up or down, but overall cancelling each other out.”

Ralph Wyrley-Birch, Managing Partner at Mount & Minster, commented: “Although stock levels remain low across the region, there has been a significant increase in seller activity levels in the last couple of months. We saw an increase in valuations over the last eight weeks compared to the same period last year and a record number of new listings in both January and February. Good prices have been achieved, with properties selling quickly and multiple offers being received on many homes. We’ve seen a definite surge in house prices at the start of 2016 which is partly expected with the increased demand at this time of year, but has been exacerbated by investors and second-home buyers rushing to complete their property purchases before the additional 3 per cent stamp duty charge takes effect on 1st April.”

Job Description:vacancies2__large

We are seeking a lettings negotiator/administrator to work in our Lincoln office. It is vital for the successful candidate to be self motivated and enthusiastic. They must be confident dealing with applicants and clients both in person and over the phone. It is imperative that they have ambition to help grow the business and become an integral part of a successful office.

Key Responsibilities:

• Dealing with enquiries
• Booking appointments
• Carrying out viewings
• Booking pitches & carrying out pitches
• Updating and maintaining websites and databases
• Responsible for marketing/adverts and general office administration.
• Additional responsibilities may include landlord feedback, developing contacts and proactively creating new business opportunities
• Core hours will be Monday to Friday 9am to 6pm and Saturdays on a rota basis
• Flexible working hours are a possibility for the right candidate
• Other duties as required for the promotion and success of the business

Knowledge, Skill and Experience:

• Drive and determination
• Excellent written and communication skills
• Ability to work effectively in a busy environment as part of a team and on their own
• Strong organisational skills
• Attention to detail
• The ability to take the initiative
• Confidence in dealing with clients
• Good working knowledge of Excel and Word
• Fantastic telephone manner
• A current driving licence and own car


• Previous experience of lettings administration and/or management
• MARLA / MNAEA / MRICS qualification(s)
• Knowledge of the local market

Application Details:

Please apply via e-mail enclosing a CV and your current salary details to:

James Ward – james@mountandminster.co.uk

Salary details available upon application, commensurate with experience and skills.

The Partnership is an Equal Opportunities Employer. To view our policies please visit: www.mountandminster.co.uk/policies

Market Rasen Races

Mount & Minster were proud to sponsor a fantastic days racing at Market Rasen. The races included:

  • Mount & Minster Lincolnshire Estate Agents Novices’ Limited Handicap Chase
  • Mount & Minster Lincolnshire Property Professionals Handicap Hurdle
  • Mount & Minster Chartered Agricultural Land Agents Handicap Chase
  • Mount & Minster Lincolnshire Letting Agents Standard Open NH Flat Race

Race 2 (2)The Partners were in attendance to award the various best turned out horses and present the prizes to the winning owners, trainers and jockeys.

Set in its rural location Market Rasen offers a beautiful setting with fantastic views of the Lincolnshire Wolds. The friendly family atmosphere and quality racing make it the perfect place for a great day out!

Race 2 (31)A day at the races is also the ideal setting for promoting your business and rewarding your clients and colleagues. With extensive hospitality and sponsorship opportunities available, we know the experience will be one to remember.









The London Office

The London Office was set up in 1992 to act on behalf of provincial agents such as Mount & Minster to promote client’s properties to a wider audience. Based in the heart of central London, the aim is to assume the role of the London marketing arm for our clients’ properties, enabling them to have the best provincial representation with full national and international marketing. The street level offices with large window displays on St James’s Place are ideally located to place properties in front of both national and international buyers. Using the experience of qualified personnel, this provides the ability to give objective advice on regions, properties, schools and travel times.mount and minster london

The office holds full sales particulars of specific properties, from attractive ‘chocolate box’ cottages to large country estates marketed in the East Midlands and nationally. In this way, we ensure that property details are put in front of buyers as swiftly as possible.

We always look for innovative ways to find London buyers and symptomatic of this is organising the successful annual “Move to The Country Show”. This has proved most successful in initiating contact between the London-based buyer and personnel from provincial offices; a crucial factor in securing a buyer’s ideal property.

The benefits are not solely biased towards London, but are also evident throughout the network, as purchasers are put in contact with vendors and vice versa. The strength of a dynamic affiliated network should not be underestimated. Many of the partners have previously worked for large national firms and have taken that experience to their local area to provide a professional and personalised service. They are very conscious that you cannot trade on reputation alone. In this ever-changing industry, it is essential to be proactive, embracing modern technology alongside traditional methods, to ensure the client receives the best service.

mount & minster london officeWe also produce our own property magazine, ‘Acquire’, which contains a wide selection of property from the United Kingdom and abroad. Our dedicated International department is available to help satisfy the interest in overseas property. Through a network of overseas agents, each specialising in their immediate area, we offer UK buyers’ advice and access to suitable properties.

For as long as anyone can remember, the West End of London has played a central role in the marketing and sale of many fine houses across the UK. Since 1992 The London Office has been developing it’s role to a create a crucial marketing service for vendors. The network is for progressive, innovative independent firms of Chartered Surveyors and Estate Agents such as Mount & Minster who believe that the wide and diverse property related services offered by this fantastic office is important in achieving the best results.



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