The Intermediary – October 2026 - Flipbook - Page 97
L O C A L FO C U S
Chichester
Bedford
Josh Halsey, advisor and director
at Chatsworth Mortgage Group,
meanwhile, describes Chichester as a
resilient but more balanced market.
Halsey says: “Well-priced homes
are still selling, but sellers are having
to be realistic. Buyers who come in
with their finances sorted and an
agreement in principle are in a strong
position to negotiate.
“It is most definitely a buyers’
market at present along with a lot of
surrounding areas.”
“We’ve also seen more older
borrowers looking at their options
as fixed rates come to an end, as
well as seasoned property investors
still buying.”
Lender activity
JESSICA O’CONNOR
is deputy editor
at The Intermediary
Buyer profiles
The Chichester property market
aracts a varied mix of buyers.
According to Parker, the area is
particularly aractive to buyers
relocating from larger economic hubs.
She says: “Chichester draws equityrich movers and downsizers, oen
from London and Surrey. Professional
families come for the schools, the
heritage and the coast.”
Parker also notes a strong
contingent of first-time buyers in the
region, although many face challenges
without substantial deposits or
family support.
She cautions: “With prices this far
ahead of local earnings, first-time
buyers need more than a standard
product. They need a lender who looks
at the whole picture.”
This need for more tailored lending
solutions is also reflected in Boxall’s
client base, which he says spans
home movers, landlords, developers
and investors.
He adds: “Over the past year, I’ve
noticed clients becoming much
more sophisticated.
“They’re asking more questions
about affordability, lender criteria,
tax, flexibility and how the mortgage
fits into their longer-term plans.”
He also notes an increase in
borrowers seeking broker support
because their circumstances do
not fit conventional high street
lending criteria.
Halsey reports a similar shi,
noting: “We’re also seeing more
borrowers with complex income,
like the self-employed, company
directors and people with several
income streams. Geing those cases
to the right lender first-time makes a
real difference.”
He adds: “Over the past year we’ve
seen more first-time buyers geing
help from family.
As a result of the area’s broad borrower
base, local advisers are increasingly
drawing on a wide range of lenders.
According to Halsey, mainstream
banks continue to account for much
of the residential market, while
specialist lenders continue to play an
important role in supporting more
complex cases. →
An equity-rich region
CHARLOTTE PARKER
senior BDM for the south of England at TAB
hichester has always been a premium postcode and prices sit
well above the regional average, even a er a 1% dip over the
last 12 months. Affordability is still a real issue – local prices still
run from 11.6 to 18.4 times the median salary of £35,264 – so
standard income multiples don’t stretch far. Chichester’s mortgage
market is built on equity and deposits!
Buyers are cautious, rather than absent. Nationally, house purchase
approvals fell to around 56,100 in July. at’s the lowest since
January 2024.
Rates explain a lot. e effective rate on new mortgages climbed to
4.45% in July. So, borrowers are staying put and holding off on
the next move.
Purchase prices are so ening while rents are rising. at gap is
pushing would-be buyers, on extant leases, to rent for longer as they
wait for prices to fall further.
It’s also pushing more borrowers away from high street lenders.
ey’re looking for longer terms on joint applications with familyassisted deposits. In Chichester, these are the norm.
In terms of demographic, Chichester draws equity-rich movers and
downsizers, o en from London and Surrey. Professional families come
for the schools, the heritage and the coast.
With prices this far ahead of local earnings, first-time buyers need
more than a standard product. ey need a lender who looks at the
whole picture.
Tenant demand in the area is exceptional. Chichester topped a
rental-demand league recently, with 659 rental searches per 10,000
people. at’s almost double second-placed Exeter.
Supply can’t keep up. ere are 31 rental properties per 10,000 people,
below the UK average. Rents are climbing steadily. e ONS puts the
average at £1,322 a month, up 3.1% on the year. Gross yields in PO19 sit
around 4.6%.
ere are lots of limited company landlords, lots of portfolio landlords
and lots of big deposits.
It isn’t a simple market. High prices, stretched affordability and tight
yields mean complex cases are the norm. at’s where we come in.
When the case doesn’t fit the box, talk to TAB.
→
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October 2026 | The Intermediary
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