It’s astonishing to see the CI property market soar, regardless of a pandemic.
In 2020, house prices in Guernsey rose by 7%, and in Jersey, 6%. Fed by a growing demand, prices continue to rise in 2021.
Somewhat unprepared, the supportive industries such as mortgage providers now have long backlogs, reportedly taking 6 weeks to give mortgage decisions to borrowers.
In a sellers market, cash is king. As such, non-cash buyers are losing out on their dream homes waiting for organisations to make decisions.
Reto bridging finance evens the playing field for buyers. Given that Reto can offer a decision within a day or two, buyers can snap up their dream homes with powers equal to a cash buyer. It’s a game-changer.
While many borrow post-purchase for home improvements, furniture and renovations, many still do not think of bridging as a way to speedily secure property in the first place.
What’s more, with the average price of a 3-bed in Jersey being £630k (2020), a family of average earnings would need the equivalent of their annual salary to pay the deposit. Democratising opportunity again, Reto can help buyers achieve that liquidity pre purchase.