The government’s 5% Deposit Mortgage Scheme, which was announced in the Spring Budget, is now underway, helping first-time buyers onto the property ladder. How will the 5% Deposit Mortgage Scheme Work? It is designed to help people buy a home despite struggling to put down a deposit. The lower required deposit will help people in…Continue reading
Tag: first time buyers
Sheffield First-Time Buyers Youngest in the Country
A recent study has revealed Sheffield to be the most affordable city for first-time buyers (FTB). The average age of those buying their first home in Sheffield is only 23, four years below the national average. Anees Rehman, Residential Conveyancer in our Property Department commented on the findings. “It is heartening to hear the Sheffield…Continue reading
Help to Buy ISA Scheme Ends in November
Homebuyers have only six weeks left to sign up to the Help to Buy ISA saving scheme. This scheme involves a bonus of 25% from the government when you buy your first property. The Help to Buy ISA has paid people an average bonus of just under £900 since it began in 2015. However, it…
Millennials Mistaken About How Much Inheritance They’ll Receive
New research reveals that millennials appear to be massively incorrect about when they’ll receive inheritance from their parents and how much it’ll be. Millennials are people who were born between 1981 and 1996. Charles Stanley, investment management firm, conducted the survey of around 1000 UK millennials and 1000 parents. It gives us insights into what millennials…Continue reading
Help to Buy ISA Scheme Ends in November
Homebuyers have only six months left to sign up to the Help to Buy ISA saving scheme. This scheme involves a bonus of 25% from the government when you buy your first property. The Help to Buy ISA has paid people an average bonus of just under £900 since it began in 2015. However, it…
Good News for First-Time Buyers Following 2018 Autumn Budget
Monday marked the day of the 2018 Autumn Budget, in which chancellor Philip Hammond delivered a 72-minute speech covering stamp duty, welfare & pensions, Brexit and many other areas concerning the nation. In terms of stamp duty, this Budget brings rather good news for first-time buyers! Mr Hammond announced that the 0% stamp duty relief…
Rise In Interest Rates Hits Young Homebuyers Hard
Interest rates are rising in the UK, adding to the financial burden of young homebuyers. The situation has been driven by house prices rising much faster than the salaries of first-time buyers, forcing many of them to take on increasingly large amounts of debt in order to own their own home. Indicators suggest that interest…Continue reading
Stamp Duty Lowered For First-Time Buyers
There is some good news for first-time home buyers, as Stamp Duty is lowered in the Autumn Budget. This will apply to England and Northern Ireland. Wales will also benefit from this announcement but only until April 2018 when the Welsh Government’s new Land Transaction Tax is to be introduced. Stamp Duty is an amount…Continue reading