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Latest Finance News related to First Time Buyer

Lifetime ISA available NOW – 12 myths about the new Lifetime ISA image
Source : Daily Express [Read Article] Thursday 6th of April 2017 09:37:00 AM
.... . He added: “Lifetime ISA should reduce the time it takes for first time buyers to purchase their home. ...
Lifetime ISA 2017: Seven reasons to transfer money from Help to Buy ISA to Lifetime ISA image
....Lifetime ISA holders, who are either saving for retirement or their first home, will also receive a government bonus of 25% on any savings put into their account. In many ways the new Lifetime ISA is very similar to the Help to Buy ISA which was launched in December 2015 and aims to get first time buyers on the property ladder. ...
REVEALED: The trick to pay LESS for your mortgage each month image
Source : Daily Express [Read Article] Saturday 18th of March 2017 09:01:00 AM
....22 a month with the higher LTV. However, first time buyers and borrowers with small deposits would still benefit from saving an extra five per cent. ...
Making sense of first time buyer deals image
Source : Independent [Read Article] Tuesday 3rd of January 2017 08:57:00 PM
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Related to :
Autumn Statement 2016: Lettings agent fees will be banned image
Source : BBC [Read Article] Wednesday 23rd of November 2016 12:15:44 AM
....It is estimated that at least four million people of working age in England would need affordable housing by 2024, according to the Local Government Association. The average first time buyer paid just under £30,000 for their new home in the 1980s compared with more than £150,000 now, according to the Resolution Foundation. ...
MAPPED: Which area of the UK will see the biggest house price booms within five years image
.... . The bank of mum and dad will continue to be important for first time buyers, as well as government schemes such as Help to Buy. ...
New Lifetime ISA: Buyers WILL be able to use cash bonus for house deposits image
Source : Daily Express [Read Article] Thursday 15th of September 2016 04:20:00 PM
....However, the LISA cannot be used for house purchase for the first 12 months so the first time eligible. Danny Cox, chartered financial planner at Hargreaves Lansdown, said: "Making the LISA values plus bonus available at exchange of contracts will help first time buyers’ cash flow and it is a better system than the Help 2 Buy ISA as the cash will be ready when needed. ...
The areas in Britain offering the biggest house price discounts image
Source : Daily Express [Read Article] Wednesday 10th of August 2016 12:10:00 PM
....Spokesman for Zoopla, Lawrence Hall said: "The total number of properties on the market with a reduction has risen since April, but discounts are way off their peak and not as high as one might have predicted given the EU Referendum outcome. "However, where there are bargains to be had, this could present a good opportunity for those first time buyers lucky enough to have saved the required deposit. ...
How a ‘rent to buy’ scheme is making home ownership a reality image
Source : Guardian [Read Article] Saturday 6th of August 2016 06:00:25 AM
.... The government caps the maximum purchase price at £600,000. Help-to-buy Isas This is a savings scheme for first time buyers, where the government chips in an extra 25% on top of what you are able to save yourself. ...
Home ownership falling in major English cities, says think tank image
....". The average first time buyer paid just under £30,000 for their new home in the 1980s compared with more than £150,000 now, the think tank said. ...
'We're being slowly suffocated': UK readers on the problem of second homes image
....Russ, solicitor, 33, now Leicester, originally north Devon. There is an imbalance in our community now because of second homes pushing up house prices and excluding young and/or first time buyers from areas of the island deemed desirable. ...
Nationwide raises mortgage borrowing age limit to 85 image
Source : Guardian [Read Article] Monday 9th of May 2016 05:00:05 AM
....Last week Barclays reintroduced 100% mortgages – so long as relatives also put up funds – prompting some to warn of a new housing divide between buyers able to access parental or grandparent assistance and others left to rent in perpetuity. The moves will also enable older borrowers to access the 35 and even 40-year mortgage terms now becoming common among younger first time buyers. ...
Rush to beat stamp duty changes causes surge in housing market activity image
Source : Guardian [Read Article] Thursday 21st of April 2016 10:12:47 AM
....”. A Treasury spokesperson said: “The new higher rate of stamp duty on additional properties will help double the affordable housing budget and support even more first time buyers fulfil their ambition of owning their own home. ...
Should we be making overpayments on our mortgage? image
Source : Guardian [Read Article] Thursday 31st of March 2016 06:00:06 AM
....In terms of our next move after this, we’d like to buy somewhere a little bigger but think that realistically we’re likely to need to do Help to Buy again. Can we do that and how does it work if you already own a home through Help to Buy? Does it matter? If we had the option to move in with my parents and therefore put ourselves in a position more akin to first time buyers with no chain would that be preferable? I am guessing so; but presumably it doesn’t change the fact that we’re doing Help to Buy for the second time? CG. ...
Which London mayor candidate will fix the capital's housing crisis? image
Source : Guardian [Read Article] Tuesday 29th of March 2016 01:05:48 PM
.... Each has a different set of plans for doing so. Pidgeon promises to create a City Hall-owned house-building company (along the lines of the one set up in Labour-run Southwark) to deliver 50,000 mayoral equivalents of council homes and to continue levying the mayor’s Olympic precept - a council tax add-on that helped fund the 2012 Games - which she says would allow her to eventually borrow up to £2bn towards funding a further 150,000 new homes of various kinds, including “affordable” dwellings aimed at first time buyers. ...
What is the lifetime ISA and how does it work?  image
Source : Daily Express [Read Article] Monday 21st of March 2016 03:37:00 PM
....Accounts are limited to one per person not one per home. Therefore two first time buyers can both get a bonus when purchasing together. ...
Demand for homes fuels 30% rise in mortgage lending image
Source : Guardian [Read Article] Thursday 17th of March 2016 05:36:57 PM
....The main house price indices show the cost of buying a home has risen more quickly than earnings over the past year, and Jeremy Duncombe, director of Legal and General Mortgage Club, which works with advisers and lenders, said buyers were being forced to take out larger loans to cope with increasing house prices. “These high prices combined with a lack of affordable housing puts owning a property out of reach for many first time buyers. ...
Barratt Developments sees profits soar image
Source : BBC [Read Article] Wednesday 24th of February 2016 08:25:00 AM
....Chief executive David Thomas said a 9% increase in completions had been done without compromising on quality. He also said the housing market remained strong thanks to improved mortgage availability and government support for first time buyers. ...
Housebuilder Persimmon posts bumper results image
Source : Telegraph [Read Article] Tuesday 23rd of February 2016 08:19:06 AM
.... . The company also pointed to the government’s Help to Buy scheme, which assists first time buyers in getting on the property ladder, for supporting the mortgage market. ...
'Generation Rent' dominates London property market for the first time  image
Source : Telegraph [Read Article] Friday 19th of February 2016 08:17:25 AM
.... • New London Help to Buy mortgage scheme explained . David Hollingworth, a spokesman at London and Country, a mortgage broker, said: "The slide in home ownership and corresponding increase in private renters illustrates the difficulties facing aspiring first time buyers. ...
Under-35s in the UK face becoming permanent renters, warns thinktank image
Source : Guardian [Read Article] Saturday 13th of February 2016 06:00:39 AM
.... In London it is forecast to be just 5% . Matt Whittaker, chief economist at the Resolution Foundation, said: “With the average modest income household having to spend 22 years to raise the money needed for a typical first time buyer deposit – up from just three years in the mid-1990s – it’s no surprise that owning looks so out of reach. ...
'Where can my grandson put his £2,378 for the best return?' image
Source : Telegraph [Read Article] Wednesday 10th of February 2016 04:13:21 PM
....uk also suggests looking at a Help to Buy Isa. This is a savings scheme designed to help first time buyers get on the ladder and is available to customers aged over 16. ...
House price growth 'rises to 9.7%' image
Source : BBC [Read Article] Thursday 4th of February 2016 09:13:49 AM
....Separately, the government announced that 250,000 people - half aged under 30 - have opened Help to Buy ISAs since they launched on 1 December. The scheme allows first time buyers to save up to £200 a month tax free, to which the government will add 25%. ...
Buy-to-let investors 'to sell 500,000 properties' as confidence plummets image
Source : Telegraph [Read Article] Wednesday 3rd of February 2016 04:18:11 PM
.... • For more on buy-to-let changes, get our weekly round-up here . Mr Lambert added that landlords are more likely to offload less desirable stock, rather than the one or two bedroom properties that will appeal to first time buyers. ...
New buy-to-let stamp duty rules hit parents trying to help children buy a house image
.... . The policy is aimed to relieve the housing shortage, by dis-incentivising buy-to-let landlords and giving first time buyers a better chance of buying. ...
David Cameron's £10,000 mortgage deposit claim put to the test  image
Source : Telegraph [Read Article] Saturday 16th of January 2016 08:17:14 AM
New battle on 5pc deposit mortgage rates - with and without Help to Buy image
Source : Telegraph [Read Article] Saturday 9th of January 2016 10:05:42 AM
.... . Five per cent deposit mortgages are predominantly targeted at first time buyers, and have been catalysed by phase two of the Government’s Help to Buy scheme. ...
Mapped: buying is now cheaper than renting across Britain image
Source : Telegraph [Read Article] Thursday 31st of December 2015 07:12:36 AM
.... . • Mortgage calculator: How much can I borrow?• The charts that show it's not THAT hard for first time buyers• Mortgage calculator: Monthly cost of your repayments . ...
Help to Buy calculator: what's the minimum deposit you need? image
Source : Telegraph [Read Article] Wednesday 30th of December 2015 09:15:39 AM
.... . In London, where the average property prices recently topped £500,000, a first time buyer would require a deposit of over £100,000 - if they were to match the national average first-time buyer deposit of 21pc of the price. ...
Landlords to launch legal challenge to George Osborne's tax relief changes image
Source : Guardian [Read Article] Sunday 27th of December 2015 04:18:43 PM
.... It said it is reviewing the lending criteria adopted by firms and stands “ready to take action”. Landlords are currently able to buy houses using cheap interest-only mortgages, while first time buyers are required to buy using more expensive repayment loans. ...
Mapped: the London boroughs you can no longer afford image
Source : Telegraph [Read Article] Wednesday 16th of December 2015 05:00:42 AM
...." . But despite the crippling costs of buying a first home in the capital, CBRE reports that the number of first time buyers has increased by 64pc since 2008. ...
Calculator: When will you be able to afford to buy a house?  image
Source : Telegraph [Read Article] Sunday 13th of December 2015 08:27:01 AM
.... . Help to Buy, and the new London Help to Buy schemes enable first time buyers to get equity loans on new build homes, to reduce the deposit required. ...
Risky buy-to-let lending on the up image
Source : Telegraph [Read Article] Wednesday 9th of December 2015 01:25:52 PM
.... . The rental sector is booming as rising house prices make it harder for would-be first time buyers to get onto the property ladder, and banks typically have tighter standards on home loans for owner-occupiers than for buy-to-let borrowers which makes it easier for landlords to get a mortgage. ...
The complicated business of house buying when you're disabled image
Source : BBC [Read Article] Monday 7th of December 2015 01:24:07 AM
....For most of their relationship, her husband has been the sole earner. "Now he's in his 40s and ineligible for any of the first time buyer assistance programmes, or a longer term mortgage," says Hammonds. ...
UK construction records weakest rate of expansion since April image
Source : Guardian [Read Article] Wednesday 2nd of December 2015 02:41:14 PM
.... Without an acceleration of new home building over the next couple of years the government faces missing its target, which George Osborne outlined in the autumn statement last week. The chancellor said he wanted to increase incentives for first time buyers to drive the market for affordable homes. ...
Halifax reveals Help to Buy ISAs with top 4 per cent rates   image
Source : Daily Express [Read Article] Saturday 28th of November 2015 12:05:00 AM
.... Account holders don't have to save the full amount to get extra cash, but the Government won't pay less than £400 in a final bonus, so savers will have to put at least £1,600 through the account to get any benefit. Halifax estimates up to half of prospective first time buyers will use the scheme to save. ...
Housebuilding stocks drop as George Osborne announces higher stamp duty image
Source : Telegraph [Read Article] Wednesday 25th of November 2015 10:52:23 AM
.... Commenting on the doubling of the housing budget, Henry Woodcock, of IRESS, said: "The housing market has been crying out for more housebuilding for years in order to boost what is an ever squeezed supply. It is this lack of supply and growing buyer demand which has pushed up house prices, making it even more difficult for first time buyers to take that first step onto the ladder. ...
Help to Buy Isa: how it works and best rates  image
Source : Telegraph [Read Article] Tuesday 24th of November 2015 09:11:20 AM
. From today first time buyers will be able to open a Help to Buy Isa, receiving a cash boost towards their first home from the Government. ...
First time buyers hindered by 'Help To Buy' expensive mortgage deals  image
Source : Daily Express [Read Article] Monday 23rd of November 2015 01:57:00 PM
.... It comes as the Government prepares to launch its Help To Buy ISA on December 1. The savings account is aimed at helping first time buyers by topping up their savings level each months, but it's yet to be seen whether the accounts will be competitively priced. ...
London housing: what price affordability under Conservative plans? image
Source : Guardian [Read Article] Monday 9th of November 2015 07:14:52 PM
....Quoted in City AM, CBRE’s head of residential research Jennet Siebrits says that, thanks to the Bill, “Developers will soon be able to deliver schemes that are 100% for private sale, supplying affordable starter homes rather than incorporating an affordable rental element. ” Here, we see the term “affordable” broaden its range still more to encompass 20% discounts for young, first time buyers. ...
Swanky new studios, concierge service, in London, for £199,000. So, what's the catch? image
.... . Galliard Homes, which is rumoured to be considering an IPO next year, is currently developing other low cost schemes in Hayes, Clapham Road and Lewisham which are priced to attract first time buyers and parents buying for their children. ...
Three reasons we don't need to panic over China's flagging economy image
Source : Telegraph [Read Article] Monday 19th of October 2015 02:20:29 PM
.... . "Since late September, there have been a number of announcements, including a car purchase tax cut, a reduction to the minimum down payment requirement for first time buyers, and further relaxation of corporate bond issuance" they said. ...
London to become a place 'we work but don't live' image
Source : Telegraph [Read Article] Monday 12th of October 2015 05:00:26 AM
.... Johnny Morris, director of research at Countrywide, said: “Renting enables many tenants to live in areas where they could not afford to buy but that means aspiring home owners often have to look elsewhere to find a home they can afford. It’s common for first time buyers to make sacrifices to buy their first home, so with price rises in recent years outstripping income growth, more are choosing to bypass rising prices by looking further for cheaper areas. ...
Buy-to-let investors: 'Let us off capital gains tax and we'll sell to first-time buyers' image
.... . “Selling to first time buyers or sitting tenants would be attractive to more than three quarters of landlords given the right tax environment. ...
Weekly Money: the stories we noticed 14-18 September image
Source : Independent [Read Article] Thursday 17th of September 2015 11:01:00 PM
.... However, one in four prospective home buyers (28 per cent) claim they will never be able to afford a deposit unless their circumstances dramatically change through a better paid job or cash windfall. John Willcock, head of mortgages at Post Office Money, said: “It is clear that there is still a long way to go to inspire confidence in the first time buyers’ market, with nine million feeling they won’t ever be able to buy their own property. ...
Lenders return to low-deposit mortgages image
Source : BBC [Read Article] Monday 14th of September 2015 09:38:30 AM
.... . "Nationwide's move significantly increases the society's lending in the first time buyer market and widens consumer choice," said Henry Jordan, Nationwide's head of mortgages. ...
Profits at housebuilder Persimmon go through the roof image
Source : Telegraph [Read Article] Tuesday 18th of August 2015 07:51:15 AM
. Profits at Persimmon, one of Britain’s biggest housebuilders, have soared as the company targets first time buyers with lower budgets. ...
This is why older couples don't want to downsize image
Source : Telegraph [Read Article] Saturday 15th of August 2015 06:31:23 AM
.... "I seem to recall, after the 70's 'boom and bust', the building industry got things moving again by building a lot of one-bedroom apartment blocks. These turned out to be 'goldmines' and an essential factor in getting the industry really working properly again for first time buyers. ...
Source : Independent [Read Article] Tuesday 11th of August 2015 04:45:00 AM
.... Forget capitalism, this has been old-fashioned state support. Thanks to the taxpayers’ money pumped into the Help to Buy scheme supporting loans for first time buyers, housebuilders have been able to sell nearly 50,000 new homes. ...
House prices dip in July but the 'warning light is still flashing' image
Source : Telegraph [Read Article] Thursday 6th of August 2015 09:30:53 AM
.... . He cautioned that the growing number of buyers paying with cash will continue to inflate prices in the long run making it harder for first time buyers with a mortgage, and adequate deposit, to get on the ladder. ...
UK city guide: The 11 best places to live to suit you and your family image
Source : Telegraph [Read Article] Wednesday 29th of July 2015 04:00:10 AM
.... Leicester has the lowest rents of any of the cities on this list, at just £604 for an average two bedroom home. Properties are also 30pc lower on average than the country as a whole, at £176,182, making it an attractive prospect for first time buyers. ...
Versace apartments: Luxury living hits the next level in London image
Source : Independent [Read Article] Wednesday 22nd of July 2015 05:30:35 PM
.... Aykon Nine Elms ascends to over 50 storeys Not so close, of course, that the dwellers of the Versace-bedecked properties will share an entrance with the hoi polloi, whose homes will be managed via Lambeth Borough Council and split between shared ownership schemes and affordable rent. Campaigners said the development highlighted the contrast in the capital between the profusion of eye-catching properties for a global elite and a city where, according to one survey, there were a grand total of 43 affordable properties on the market for first time buyers in April. ...
Tenants in England spend half their pay on rent image
Source : Guardian [Read Article] Thursday 16th of July 2015 03:23:20 PM
....The report confirms that the struggle to get on to the housing ladder is forcing first-time buyers to borrow for longer and turn to family for help. Of first time buyers who had been living in their property for less than five years, 27% financed it with the help of a gift or loan from relatives or friends, compared with 20% a decade earlier, while 8% used an inheritance, compared with 3% in 2003. ...
Three ways the Budget failed my generation image
Source : Telegraph [Read Article] Monday 13th of July 2015 02:45:38 PM
.... This has ended up inflating prices even more. Previously you had promised 200,000 new starter homes at 20pc below market price for first time buyers, but disappointingly there was no mention of this in the Budget. ...
Rent rises forecast after Osborne's tax-relief cut for landlords image
Source : Guardian [Read Article] Wednesday 8th of July 2015 12:40:08 PM
....”. In one of the budget’s most well-guarded secrets - and which stunned campaigners who have been calling for a level playing field between first time buyers and investors - George Osborne said buy-to-let landlords have a “huge advantage” over homebuyers because they can offset mortgage interest payments against their income. ...
Source : Reuters [Read Article] Monday 6th of July 2015 05:07:00 AM
.... Prime Minister David Cameron outlined plans on Saturday to accelerate house-building over the next five years and raise the inheritance tax threshold on family homes to the psychologically important one million pound mark. The plans include steps to build discounted homes for first time buyers, unlock public land for new homes and back small builders with planning changes. ...
Average mortgage deposit hits record £72,000 image
Source : Telegraph [Read Article] Friday 26th of June 2015 10:09:24 AM
.... Brian Murphy, head of lending at Mortgage Advice Bureau, said: “Putting up a 30pc deposit helps to unlock some of the best rates on the market and helps keep mortgage payments even more affordable. The rise of deposits is less encouraging for first time buyers, but there is at least some hope that more low cost properties will become available as second and third-steppers make their move up the ladder. ...
A third of first time buyers move back in with their parents image
Source : Independent [Read Article] Monday 8th of June 2015 12:19:12 PM
.... . Parents are also less pessimistic than their children about the chances of getting a mortgage as a first time buyer. ...
Housing crisis: one in three older children move back in with parents image
.... Last week, the Government published figures showing nearly 100,000 people had so far been helped onto or up the property ladder by its flagship Help to Buy schemes, which help people buy a home with a deposit as low as 5 per cent. Eight in 10 were first time buyers, the data showed. ...
Nationwide chief executive to retire next year image
Source : Telegraph [Read Article] Friday 22nd of May 2015 07:22:40 AM
....1bn, down from £9. 9bn a year ago, and helped almost 46,000 first time buyers, although this was a 20pc fall on the year before. ...
'Am I allowed to take out an Isa now, and a Help to Buy Isa in the Autumn?' image
.... The introduction of the Help to Buy Isa was announced in the March 2015 Budget and the product is expected to go live, and be available through banks and building societies, in the Autumn. It is designed to help first time buyers on to the property ladder, at a time when rising house prices has made this ever more difficult for many people. ...
First-time buyers in London 'need to earn at least £77,000' image
Source : Independent [Read Article] Monday 4th of May 2015 03:04:51 PM
.... . The average UK house price for first time buyers is, according to the Office for National Statistics, £203,000 while in London it stands at a much-higher £385,000. ...

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