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In March 2013, the government started the Help to Buy scheme which offers one of two options for new homebuyers or home owners looking to move. The first phase was a mortgage equity loan and the second phase rolled out in October 13 is a mortgage guarantee. Both require that the property value does not exceed £600,000, the property is to be your sole residence with no other properties owned and you must take a repayment mortgage. Mortgage Equity Loan This is only available for new build properties You must provide 5% of the property price as a deposit Government will provide 20% towards a...
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When you are planning to move house it can be tempting to accept the first buyer who comes along with an attractive offer. However, buyers come in all shapes and sizes, and it is important to assess your purchaser’s ability to perform before accepting any offer, especially in this market. We often receive offers from people who themselves have a property to sell that is not yet under offer. Depending on the circumstances, our advice is generally not to accept such an offer. The main reason is that by doing so, you would effectively be linking – and possibly reducing, the saleability of your...
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Going to university is an exciting time. This is the first time most will have lived away from home and it’s a chance to learn more than just the course. It’s an experience of the wider world outside the home, a chance to make new friends and of course (and most importantly) drink cheaply in the student bar! Finding a place to live is the second item on the list after having got into university. This is where many have fallen down and learnt a disturbing lesson which is quite simple; some people are dishonest and will steal your money. An increasing number of students have paid hefty deposits...
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Many estate agencies simply act as a broking service that matches people to property. However, we are acutely aware that there is far more to successful selling than this alone. Indeed, over 30% of property sales in this country fail to reach completion, falling through for various reasons. One of the main reasons is that a buyer simply gets cold feet and withdraws as a result of “buyer remorse”. This is a familiar phenomenon to estate agents and occurs when a buyer feels overwhelmed by the apparent enormity of the decision to buy and takes the more comfortable “low-risk” option and does...
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In any market, the conversation often revolves around the likely future of house prices. Will they go up, will they go down, will they remain stable? Even the most credible authorities tend to disagree on the direction of property prices and sales volumes, so where does that leave the humble consumer? Baffled! The problem is the source of data that is used to make assumptions about the market is fickle. For example, you could look at the latest Land Registry figures. These record the volumes and prices of sales that completed up to a year after the sale was arranged. But a lot can happen in...
