News

Tips for first time buyers: saving for a deposit and avoiding common mistakes

deposit

In November’s budget statement, the government scrapped stamp duty for first time buyers on properties costing less than £300,000.

With the average first time buyer paying around £1.5k in stamp duty, this could make home ownership more affordable for thousands of people.

But there’s still a hefty amount to pay when you buy a home, of course, and the challenge of saving for it is still daunting for most first time buyers.

Fortunately, serious saving doesn’t have to mean staying in every night. And it doesn’t have to mean shivering through winter evenings with the heating off to save a few extra pennies.

Once you get into the habit of saving regularly, it’ll stop being a chore. You won’t even notice you’re doing it.

The UK property market in 2018 - what does the future hold?

property
  • Investors to focus on commercial instead of residential opportunities
  • Properties of the World opening new estate agency as part of future-proofing strategy
  • High returns and capital growth will remain key when it comes to favoured investments

2018 will be a key year for the UK property market. In the run-up to Brexit in March 2019, much focus will be on what property prices are doing and why. Alongside the economic impact of the Brexit process, prohibitive levels of stamp duty have dragged the property market in 2017. This has led to a drop in the number of buyers purchasing residential buy to let apartments this year, according to innovative property investment company Properties of the World.

Hampden Hall

Hampden Hall

Hightown Homes has 2 & 3 bedroom houses available for shared ownership in the pretty village of Weston Turville, Buckinghamshire.

Hampden Hall is located within the village of Weston Turville in the Chilterns, an area of outstanding natural beauty. Nearby Aylesbury provides excellent amenities and convenient transport links to London.

REVEALED: The facts none of us know about property

Think you have a better knowledge of the housing market than 11-year olds? Think again.

  • Younger generation were tested on their knowledge of the housing market
  • Confusion around stamp duty and what a cul-de-sac is
  • Two year-seven students, a uni student and a young adult were quizzed
  • Further details can be viewed here, video embed codes in ‘Further Information’ at end of release

 

Members of the public were pushed to their limits when questioned about different aspects of the UK housing market.

 

4 common home insurance claims and how to prevent them

insurance

In this article, Wasim Bux from home and car insurance provider iGO4, investigates four common home insurance claims and how you can prevent them to keep your premiums affordable.

Having good home and contents insurance policies is essential for almost every homeowner, as they can help you cover the potentially high costs of major repairs to your home. However, each time you claim, the premiums you need to pay are likely to go up. This means that, if your home suffers from regular problems, you could end up shelling out more and more.

L&Q Launches Shared Ownership Quarter in London’s Most Affordable Borough

Shared Ownership

Over 200 of the most affordable homes in London are being delivered in Barking, as part of on-going regeneration in the area. The 221 shared ownership homes at Weavers Quarter in Barking are the first of some 1575 new homes that will be available on the site of the former Gascoigne Estate, which is being transformed into a stunning new development complete with two schools, new high quality public open space and a new community centre.

 

The first phase of Shared Ownership homes comprises 50 one, two and three-bedroom apartments and duplexes, launched recently, are available to those who live or work in the borough of Barking and Dagenham, recently listed as one of the most affordable boroughs in London*.

Markham & George property limited new venture

 property

Firmly established in the housing and construction industry in their own rights, East Anglia based construction supplier, Mick George Ltd, and house builder, Campbell Buchanan, are about to embark on an exciting new venture with the launch of Markham & George Property Limited.

The brand new, separate trading company further signals both businesses’ intent to continue their progressive growth within their respective industries.

Average Brit spends £10,000 on upgrades in the first five years of living in a new property

property
  • Homeowners spend £10,743 on updating their property within the first five years
  • Replacing floors and windows sets buyers back over £1,000
  • Over £2,000 is spent on basic furniture

Think you’ve got your house move financially covered? Think again. New research reveals that, after the deposit, searches and solicitor fees, property buyers spend an average of £10,743 on additional, essential costs such as buying furniture and upgrading their homes within the first five years of buying.

 

Surveying over 1,000 homeowners across the UK, online retailer Furniture Choice found out just how much buyers need to fork out once they have purchased their property.

 

First time buyers in Bristol welcome Stamp Duty scrapping

First time buyers in Bristol

First time buyers in Bristol will likely be celebrating this week as the Chancellor has scrapped stamp duty taxes for first timers on properties up to the value of £300,000 in the Autumn Budget. 

Those buying properties up to the value of £500,000 will also benefit from the tax break on the first £300,000 of their purchase. This will save those buying their first home thousands of pounds and means that 80 per cent of first time buyers will now not face any stamp duty charges at all. 

Local house builder Barratt Homes welcomes the stamp duty break and is encouraging local first time buyers to make the most of the tax break at its developments in Bristol. 

Stamp duty announcement a "positive step" for first time buyers

 Stamp Duty announcement is a "positive step" for first time buyers

Eight out of ten first time buyers are set to pay no stamp duty at all after the chancellor outlined key changes in his Autumn Budget.

Philip Hammond’s announcement has been met with mixed responses from industry experts over his plans to axe stamp duty for first time buyers on properties up the value of £300,000. For properties up to the value of £500,000, no stamp duty will be paid on the first £300,000

Before the announcement, first-time buyers would be expected to fork out thousands of pounds in tax, but chancellor Philip Hammond has said the new initiative will see 95% of first time buyers seeing a significant reduction, with 80% paying nothing at all.