The Intermediary – March 2026 - Flipbook - Page 98
L O C A L FO C U S
Chelmsford
theme. Innes notes that “remortgage
activity remains strong as buyers
coming off 2-year fixed rates can
typically move to cheaper deals.”
At the same time, borrower
behaviour appears to be evolving.
Reece highlights a noticeable shi in
product choice, observing “a trend
of people choosing 5-year fixed-rate
mortgages over 2-year fixed-rate
options, even though 2-year rates are
currently lower.”
This, he suggests, reflects a broader
change in mindset. He explains: “This
suggests that many homeowners
are concerned about potential
interest rate increases, particularly
in light of recent political and
economic uncertainty.”
That caution has been shaped in
part by recent political events. Reece
notes that “many clients experienced
firsthand the impact that the Liz Truss
Government,” an experience that has
made borrowers far more aware of
how political decisions can influence
borrowing costs.
As he puts it: “Before the Liz Truss
mini-Budget, clients typically focused
primarily on obtaining the lowest
available interest rate.
“Many borrowers now prioritise
stability and long-term security
over securing the lowest possible
monthly payment.”
Client demographics
This market activity is also reflected
in the types of buyers entering the
Chelmsford market. The postcode area
is home to around 726,000 residents,
with an average age of 41.4 years.
For many advisers, the most
prominent buyer profile is Londonbased movers seeking beer value and
more space.
Reece sees a particularly strong flow
of buyers arriving from the capital’s
eastern boroughs. He says: “The key
demographic consists of individuals
looking to move to Chelmsford from
East London,” many of whom are
“seeking a slightly slower pace of life
while still benefiting from strong
transport links into London.”
For Morgan, his core demographic
is typically clients between 25 and
45 years old, who oen in wellpaid professional roles locally or
in London.
Morgan adds that “the majority of
our new enquiries come from firsttime buyers,” while many returning
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The Intermediary | March 2026
Increasingly informed buyers
OLIVER BEN REECE
lead mortgage and protection adviser
at Bright Future Mortgages Advisors
he Chelmsford housing market remains strong, largely due to its
close proximity to central London and its direct rail link to
London Liverpool Street. According to official statistics, the
average house price is above the national average and slightly
higher than many other parts of the East of England.
For young families seeking to move to the area and looking for a
detached property, prices are typically £600,000 and above. However,
we also receive a significant number of enquiries from young
professionals who live and work in London and are looking to purchase
flats in the area, even if they do not have close relatives or
friends locally.
Since the turn of the year, we have experienced strong growth in
enquiries. We believe this is largely due to the positive news regarding
interest rates. It is evident that many first-time buyers have been
patiently waiting for interest rates to decrease and are now ready to
take the next step.
In particular, they are o en young professionals looking to move from
London to Chelmsford, or individuals currently living with family
members or renting who are seeking opportunities further afield in
places such as Maldon or Colchester, where property prices are slightly
more affordable.
We have observed a trend of people choosing 5-year fixed-rate
mortgages over 2-year fixed-rate options, even though 2-year rates are
currently lower. is suggests that many homeowners are concerned
about potential interest rate increases, particularly in light of recent
political and economic uncertainty.
Many clients experienced firsthand the impact that the Liz Truss
government and the policies of Kwasi Kwarteng had on mortgage rates,
which has made them more aware of the relationship between
government policy, financial markets, and personal budgets.
As a result, many borrowers now prioritise stability and long-term
security over securing the lowest possible monthly payment. Before the
Liz Truss mini-Budget, clients typically focused primarily on obtaining
the lowest available interest rate, and political factors rarely featured
in discussions.
T
clients are homeowners either
seeking remortgages or “looking to
move to larger properties as their
families grow.”
Rental appetite
Alongside owner-occupier demand,
Chelmsford’s rental market continues
to aract aention from landlords.
Private rental stock accounts for
around 21.5% of homes across the
postcode area, slightly below the
England and Wales average of 27.1%
For some advisers, Chelmsford
remains an appealing proposition for
investors. As Reece explains: “The
buy-to-let market in Chelmsford
remains strong, largely due to its close
proximity to Central London and
excellent transport links.”
However, entry costs can be a
significant consideration. Reece is
quick to note: “To secure a mortgage
in this area, applicants typically need
to provide a significantly larger initial
investment compared to locations
such as Liverpool, where average
house prices are considerably lower.”
At the same time, investor
behaviour appears to be shiing.
Morgan says: “Buyers are focusing
more on residential properties rather
than buy-to-let (BTL) investments,”
reflecting the broader changes
