By Enzo Mora, CEO and founder of The Mortgage Brain 

It seems we've started the autumn property market early with reports from Rightmove that buyers have spotted a window of opportunity to move as mortgage interest rates are edging downwards and new property listed for sale is up 14% on last year.

Earnings are also rising faster than inflation and house price growth. I'm delighted that we have been able to offer our customers some cracking deals and for those with a lower loan to value, the savings have been considerable.

Compromising on a move can make a difference

Moving further away from family, friends and familiar places to get onto the property ladder is becoming more common for first-time buyers, according to research from Santander UK.

Two-thirds (67%) of Brits who bought their first home in the last two years had never seen their new neighbourhood before buying, compared to just over half (51%) of those who bought more than five years ago.

Buying further afield is definitely a good way to borrow less or afford more, whichever way you look at it, and the research showed that there was an average saving of £29,000 compared to buying where they had lived before. So it's worth considering.

Stamp duty savings deadline approaching

There is definitely a window of opportunity for first-time buyers to save on stamp duty as the price of the property exempt from the tax is set to fall from £425,000 to £300,000 in April 2025. Currently this means that there's a potential saving of up to £15,000 depending on the price of the property, which is capped at £625,000. This will make a difference to overall moving expenses.

Our advisers also have access to any new lender deals specifically for first-time buyers and can talk through the finer application details. Lloyds Banking Group recently made £2bn lending available to first-time buyers earning a total salary of £50,000 or more who are borrowing more than 4.5x income. The lender has also just formed a partnership with housebuilder Barratt and Homes England to boost the UK's much needed housing supply over the next 10 to 15 years. These homes will include large brownfield developments, as well as new garden style villages. We have seen continued interest in customers buying brand new homes and mortgages are available at competitive rates - we just need more of them!

Remortgaging can be the answer

Of course, not everyone is looking to move. Some of our customers are looking to stay put and remortgage to pay for the cost of extending or improving their home. Rightmove's new Renovation Calculator could come in handy. Once you get an instant online valuation you have the option to add in completed or planned renovation works to that property such as loft conversions and single-story extensions to see the potential impact on its value.

Location, location, location

For obvious reasons, I'm a massive property show fan and I'm always intrigued why people fall in love with a particular home. I was amused to read that research from Jackson Stops estate agent revealed that a local pub is top of the list of must haves, closely followed by a GP surgery. Make of that what you will, but having an opportunity to buy a property wherever it is located is a great feeling and, along with the team at The Mortgage Brain, I'm here to help that happen.

To find out more about The Mortgage Brain, visit www.themortgagebrain.net  or call 0333 340 8888.