HUNDREDS of thousands of cash-strapped first-time buyers are missing out government help which could get them on the property ladder for less. Since the government's shared ownership scheme was launched in 2013, only 6 per cent of buyers have taken advantage of it, according to new research. That means that 94 per cent of first-time buyers are passing up the opportunity to get on the property ladder through the scheme. The new figures from TotallyMoney are based on a survey of 1,000 homeowners, which is only a handful of the 359,000 first-time buyers in the UK, according to Halifax research. So proportionally, we've worked out that that's a whopping 349,600 first-time buyers who are overlooking the scheme completely. At least 35 per cent of 18 to 24-year-olds were put off the scheme because they were worried about hidden fees that might surface later on. And more than 40 per cent of the people surveyed admitted that they needed financial support from friends and family when it came to … [Read more...] about Thousands of first-time buyers missing out on government funding – how to get help buying a home
Help buying a home
(BPT) - So you want to buy a home? Congratulations! Homeownership can be a wonderful accomplishment and milestone in your life. But be forewarned that it might not be easy. The process is complicated and often comes with a few hurdles.However, if you follow the three steps below, you can make your goal a reality in 2018.1. Understand your expenses and get preapproved Making the transition from renting to buying a home can have a significant impact on your monthly budget. That’s why you need to get your finances prepared before you buy a home. Entering numbers into a mortgage calculator is sometimes helpful, but it can leave you with an overly optimistic picture.A common rule of thumb is that your monthly mortgage payment should not exceed about 30 percent of your monthly income. Before you begin the process of buying a new home, review your monthly income and expenses and decide if this percentage works for your household.If you decide to use a mortgage calculator, remember that … [Read more...] about Buy a home in 2018 with these 3 steps
HOUSE hunters are being urged to sign a new register to help boost the amount of quality homes in Dorset. The Home Ownership Register has been launched as part of the Opening Doors campaign to encourage more housing, especially for younger local working people. The ambitious campaign aims to build 20,000 new homes by 2033, encouraging housebuilding at a much faster pace whilst creating a mixture of affordable, open market and rented accommodation. Weymouth and Portland Borough Council, West Dorset District Council and North Dorset District Council have joined forces for the Opening Doors initiative. They are among a number of councils nationwide working to find solutions to the housing crisis. The register will play an important role in this work by gauging the type of housing required. It is predominately for those seeking to buy but also for anyone renting. Questions cover such factors as number of bedrooms, price, preference for shared ownership, affordable and open … [Read more...] about Are you a young local worker and ready to buy a home in Dorset? Then you need to sign this
For most people, getting a mortgage is the biggest financial commitment they’ll ever make. Buying a home is always a bit of a gamble, but would you feel better about it if the property was endorsed by your favourite hotel brand? Branded residences are homes that are developed and marketed by some of the world’s biggest hospitality firms from Four Seasons to Mandarin Oriental to Marriott. They’re an increasingly essential part of a hotel group’s portfolio and there are even high net worth buyers who “collect” them. If you’re European, this is probably news to you, but if you’re North American, it’s an established concept. Branded residences started up around a century ago in New York with the Sherry-Netherland Hotel on Fifth Avenue running its own serviced apartments alongside its existing building. The Carlyle Hotel followed soon after, with its own private residences on Madison Avenue. The rest, as they say, is real estate history. … [Read more...] about Would you buy a home built by a famous hotel or car brand?
Expert comment from Christine Tiernan, Sales and Marketing Director at Crest Nicholson South: As we head into 2018, many of us will be looking to make New Year’s resolutions, be it taking up a new hobby, joining the gym or starting out on a new career path. The start of the year is also a fantastic time to buy a house, whether you’re a first-time buyer, a second stepper looking to make that jump to a larger home or indeed if you’re looking to downsize. Here are my top tips for buying a home in 2018: • Chat with local agents and look on web portals, such as Zoopla and RightMove, to get a feel for what is on offer in your local area, and what is available to you within your budget. • It is essential to thoroughly research the area you’re looking to move to, and check whether your home is near all the amenities you’re looking for. For example, if you have young children, it is important to research schooling in the local area, particularly … [Read more...] about Top tips for buying a home in 2018