Kentucky first time home buyer

RISHI Sunak could extend the stamp duty holiday by six weeks in a boost for home buyers. The Chancellor is considering a limited extension of the holiday through to mid-May, according to the Telegraph . ???? Read our coronavirus liv e blog for the latest news & updates The possible extension would help to alleviate fears of sales falling through after the March 31 deadline - resulting in a “completion trap” for buyers. A source told the Telegraph: “It is certainly the case that a lot of people would be caught in the completion trap if the holiday were to end when it is due to.” But the Chancellor is said to oppose a longer, six-month extension amid concerns over Britain’s growing deficit. A treasury spokesman told the paper: “We do not comment on future tax policy outside of fiscal events.” Mr Sunak announced plans to raise the threshold for paying stamp duty from £125,000 to £500,000 last July, in a bid to kickstart the housing market following … [Read more...] about Rishi Sunak could extend stamp duty holiday by six weeks in boost for home buyers

Britain's leading share index has risen sharply on the prospect of more help for the housing sector in Rishi Sunak's Budget later this week, as well as a boost for government stimulus in the US. The FTSE 100 was up by about 2% - or more than 100 points - in morning trading, with builders such as Persimmon, Taylor Wimpey and Barratt Developments leading the way. It was part of a global rally for stocks following the approval by the US House of Representatives on Friday of President Joe Biden 's $1.9trn coronavirus pandemic relief bill. Please use Chrome browser for a more accessible video player Businesses react to chancellor's promises In London , the rally for house builders came after it was revealed over the weekend that a scheme to guarantee 95% of mortgage loans for first-time buyers will be announced in the Budget . They are also in line to benefit if, as reported, the chancellor extends a stamp duty holiday announced last … [Read more...] about Budget: FTSE 100 rallies as Chancellor Rishi Sunak plans help for home buyers

FIRST-TIME buyers with small deposits are set to get extra help in the Budget with a new mortgage guarantee scheme. But when is it launching and how will it work? We explain all we know so far. What is the mortgage guarantee scheme? The mortgage guarantee scheme will help first-time buyers get a home loan with a 5% deposit. Most banks stopped offering the 5% deposit mortgages early last year because of the coronavirus crisis. They are often seen as riskier by banks as they are vulnerable to falling house prices, and there were just eight on the market in January, 2021, according to the Treasury. Some lenders such as NatWest and Lloyds have since brought back 10% deposit mortgages , but there are strict rules and limited availability. To help get young Brits on the property ladder with a 5% deposit, the government will guarantee part of loans under the scheme to encourage banks to offer them. Chancellor Rishi Sunak is set to announce the scheme in the Budget … [Read more...] about Budget 2021 – How new mortgage loan guarantee scheme for first-time buyers will work

First-time buyer homes in the north of England are soaring in value faster than in any other part of Britain, research has found. The biggest rise was in the North West where the cost of getting on the property ladder soared 8.6% in 12 months to £144.453, up from £133,011. Close behind was Yorkshire and the Humber, where prices rose 8.4% to £148,060 from £136,617 a year ago. The North East had the cheapest first homes at £112,150, but also had an above-average rise of 5.6%. The average cost of a first home across Britain is £200,578 – up 3.9%, or £7,475, on a year ago, found the Rightmove study. The rise for all properties was 3.3%, meaning first-time homes are rising faster than the general market. The priciest first homes are in London, at an average £474,950, though that had actually fallen 1.4% from £481,542. Richard Powell of estate agents Ryder & Dutton covering Lancashire, Manchester and West Yorkshire, said: “It’s probably easier to become a … [Read more...] about Revealed: Where the value of first-time buyer homes are soaring the most in Britain

THOUSANDS of first-time buyers are been given extra time to secure their homes under the Help to Buy scheme. The deadline for buyers to complete on homes and benefit from an interest-free loan from the Government was supposed to be March 31. ???? Read our coronavirus liv e blog for the latest news & updates But this has now been extended for a third time until May 31 for buyers already in the process of purchasing their new build home under the scheme, to make up for delays caused by coronavirus. The Help to Buy Equity Loan scheme lets buyers purchase a new build home with a 5% deposit. Buyers can borrow up to 20% of the property value - or 40% in London - to make the mortgage smaller to give those on smaller salaries a step up on the property ladder. The loan scheme is changing from its current form from April, as the Government looks to tighten lending criteria. What help is out there for first-time buyers? GETTING on the property ladder can feel … [Read more...] about Help to Buy scheme extended again to stop thousands of first-time buyers missing out on homes