THE Help To Buy scheme offers a way for Brits to get on the property ladder by reducing the amount of cash they need to stump up for a deposit to buy a home. Here's everything you need to know about the government's scheme to help first-time buyers. What are Help To Buy schemes? Do I qualify? Help To Buy is a government scheme designed to help people get on the property ladder without the need for the large, up-front deposit which puts most young buyers off. It consists of Help To Buy equity loans and Help To Buy ISAs, both designed to offer first-time buyers a way to make their deposit more affordable. Which? reports that to qualify, you must: Have a deposit of at least five per cent Be looking to buy a home worth £600,000 or less (this limit changes for Help To Buy ISAs) Be purchasing a property you intend to live in most of the time How do Help To Buy equity loans work? One of the most popular ways to get a foot on the housing ladder, Help To Buy equity loans can be used … [Read more...] about What’s the Help To Buy scheme, why might it be scrapped, how do the government ISAs and Equity Loans work and do first-time UK buyers get dibs?
First time home buyer class
Motoring by Press Association 19/06/2018, 9:50 am FacebookTwitterWhatsAppEmail Send us a story Sign up to our Daily newsletter What is it? The family hatchback sector is under siege from SUVs, but that doesn’t mean it’s dead – far from it. There’s enough life in this market sector yet that Kia has gone in all guns blazing with this – the all-new Ceed. Though it may come from a Korean brand, the Ceed is designed, engineered, built and sold entirely in Europe, so in theory it should be perfect for European tastes. But there’s no denying the strong competition – the best-selling Ford Focus and VW Golf are both seriously good cars, with considerably more heritage than the 2006-born Ceed. What’s new? Let’s get the trifles out of the way first – the new car loses the apostrophe of the old Cee’d and simply becomes Ceed: Community Europe, European Design. Easy. Of more note is the new bodywork, which is … [Read more...] about First Drive: The new Kia Ceed gives the Focus and Golf something to think about
The Tories' flagship scheme for helping people to buy a home has been slammed for helping the wealthy. The Help To Buy initiative is designed to help cash-strapped first-time buyers. But new analysis reveals the average salary of people receiving equity loans has shot up since it was introduced. Wealthy Brits earning as much as £100,000 are getting taxpayer-funded loans to buy a home, official figures show. Those being helped earn an average of £55,000. And in London the average wage of Help To Buy claimants is now £72,000 - three times the national average salary. Critics blasted the policy as “welfare for the upper middle classes” and demanded it be changed or scrapped. Help To Buy equity loans provide cash to homebuyers enabling them to own a property with a deposit of just 5%. Over the past five years, the scheme has paid out £8.3billion - with 160,000 people benefiting from it. New Government figures show the average household income of claimants … [Read more...] about Help to Buy slammed for helping the wealthy over cash-strapped first-time buyers
With house prices continuing to rise it is increasingly difficult for first-time buyers to get a foot on the property ladder. If Rightmove data is to be believed, the average house price in Cambridge has skyrocketed to £511,852 - second only to London, where the average price is a whopping £623,525. This represents an eight per cent increase in the city in the past year alone. Once you have found that dream home you have set your heart on there is the small matter of paying stamp duty on the purchase. Last year the Government announced the introduction of Stamp Duty Land Tax (SDLT) relief for many first-time buyers. This came as welcome news for those wishing to get on the first rung of the property ladder. But be aware - there are tight restrictions as to who can qualify. Here Judith Pederzolli, from Cambridge Accountants PEM, explains what you need to know about the relief. What is the relief worth? The relief means that no tax will be due on a property purchase price of … [Read more...] about How can you qualify for first time buyer’s relief from stamp duty?
Almost a hundred new homes are set to be built on greenbelt land in Formby - despite planning permission at first being refused. An application for the controversial development was rejected in December 2016 because it was considered to be inappropriate use of green land. There were also concerns over flooding and the detrimental impact on the existing properties. Redrow, the company behind the proposal, appealed that ruling as well as submitting new plans, which have since been approved with conditions. The development, on land near to Andrews Lane, will include a mix of apartments and houses – 31 of which are classed as affordable homes. They could be built as early as spring 2019. A spokesperson for Redrow Homes said: “A reserved matters application has been submitted to Sefton Council and is due to be heard by the planning committee later this month. “Subject to planning we would then hope to begin work on site in the summer this year, with a view to launching … [Read more...] about 100 new homes to be built in Formby