December Newsletter

How has Brexit created opportunity in the market?

 

Data released from Rightmove has shown that agreed house sales last month rose 6.1% from the same point last year, with every single region showing improvement. Considering the current climate of Brexit, could this upsurge in the property market actually be attributed to the relative political instability, rather than in spite of it?

It’s been another period of gigantic upheaval in British politics in regard to Brexit, but months of uncertainty have seemingly encouraged a spike in activity in a rush to beat the currently unstable deadline of October 31st. Buyers and sellers are therefore making something of a concerted effort to complete their property transactions within the next quarter.

Supporting this microcosm of activity in the market is the number of UK mortgage approvals which have also risen significantly. Approvals for house purchases rose to their highest level for two and a half years in July, with Howard Archer, chief economic adviser to the EY ITEM Club, stating that: “It is possible that mortgage activity is being lifted by some people looking to complete their house purchases before Brexit occurs on 31 October, given the major uncertainties surrounding the UK successfully leaving the EU with a deal.”

Speaking prior to recent developments in the House of Commons, CEO of reallymoving Rob Houghton says: “The outlook for the property market over the next three months is remarkably positive, considering the current political and economic context. The recent election of a new Prime Minister who is committed to leaving the EU on Halloween even if a deal isn’t reached could mean clouds are gathering on the horizon, but any impact on prices in the short term is likely to be mitigated by the urgency of home movers to complete deals in the next three months.”

The Hemel Triathlon is coming on Sunday 29th September

Join us on Sunday 29 September for the Hemel Hempstead Triathlon. Gear up for swimming, bike riding and a 5km run!

Click here to read The Hemel Triathlon is coming on Sunday 29th September.

The Hertfordshire Wedding Fair

The Hertfordshire Wedding Fair, St Albans is Hertfordshire's premier wedding fair and is the county's oldest county wide wedding fair.

Click here to read The Hertfordshire Wedding Fair.

Property performance over the last decade

 

Now that we are in 2020, looking back at the previous decade can help to shine a light on what we are to expect next in the property market. New research from Proportunity – a new equity loan startup firm – has shone a light on which properties have increased the most in value from 2010 to 2020.

Surprisingly, terraced properties have seen the greatest rate of growth nationally – with an average growth of 3.05%, compared to 2.9%, 2.35% and 2.33% for semi-detached, flats and detached properties respectively.

London has seen the highest rate of growth with the region’s averages outperforming most other parts of the country, with terraced properties in the capital of the country proving to be an outstanding investment decision. In the year 2000, the average price for a terraced property stood at £127,833 in London, however by the end of 2019 this had risen to £499,178 – a startling 290% increase.

“The 2010s were marked by the after-effects of the financial crisis, and then by Brexit uncertainty,” Vadim Toader, founder and chief executive officer of Proportunity, says:

“Despite these headwinds, we have largely seen growth across the board, but the clear winner is terraced housing – or more specifically, terraced homes in London – with buyers likely attracted to their historic characteristics and charm, as well as their limited supply, compared to new builds.”

If you are considering investing into a property this year, then there are three key aspects to keep in mind in order to be successful;

1) Plan for success; know exactly who your audience will be when you let the property out, or sell it on.

2) Gain a mortgage in principle; this will enable you to move quickly as investment properties will often have heightened levels of competition around them.

3) Work with a good estate agent; a reputable agent will be able to advise you on everything from the right area to invest in, to the potential yields you will be able to reap.

 

 

Region Name	flat CAGR 2010-2019	terr CAGR 2010-2019	semi CAGR 2010-2019	detached CAGR 2010-2019
East Midlands	0.74%	1.78%	2.11%	2.25%
East of England	2.62%	3.47%	3.59%	3.07%
London	4.93%	5.07%	4.33%	3.06%
North East	-0.50%	0.08%	0.47%	0.67%
North West	-0.04%	1.07%	1.43%	1.21%
South East	2.49%	3.40%	3.41%	2.84%
South West	1.34%	2.19%	2.35%	2.18%
Wales	0.50%	0.90%	1.01%	1.20%
West Midlands	0.65%	1.52%	1.96%	1.91%
Yorkshire and The Humber	-0.12%	0.91%	1.30%	1.32%
England and Wales	2.35%	3.05%	2.90%	2.33%

Saving for a house deposit

 

For most of us, the most expensive thing that we ever purchase will be a property, and the prospect of saving for that all-important deposit can be rather daunting. However, the key to saving for that lump sum is simply good financial preparation and making a few changes to your outgoings which should reap big rewards. Take a look through our handy hints and tips and you’ll be in that new home in no time.

Speak to an expert
If you have made the decision that you are ready to buy a property, then an excellent first point-of-call would be to speak to an expert, be that a financial planner, mortgage advisor or a savings expert in your bank. It is important to get a detailed overview of your personal finances and speaking to an industry expert will provide you with tailored advice which suits your lifestyle, as well as being given some proven strategies to help you to save. Whether you’re a saver or a spender, it is important to get in to the right mindset to save and starting the process by speaking to an expert is a sensible first step.

Make a move
With the cost of renting often leaving many with little money to save for a deposit, making a temporary move can be a key factor in achieving a sufficient deposit. More and more people are moving back in with their parents for a period of 6 to 12 months; often paying no rent and economising through saving on laundry and food costs. If living with your parents is a truly unbearable prospect, then finding a lodger to live with you will also aid you in that all-important quest for a deposit.

Know your options
Did you know that you could buy a property with just a 5% deposit? Knowing what schemes and grants are out there will most certainly help you to achieve a house deposit. The Help-to-Buy shared equity scheme allows you to purchase a home with as little as 5% deposit and the government or developer (this is available for new homes only) lends you the rest of the deposit. Shared ownership schemes involve purchasing part of a property and then renting the rest, and although you would still need a deposit to get a mortgage for the part of the property you are buying, the deposit would be considerably lower; for example, to get a 90% mortgage on a 50% share of a £150,00 property, you would need only £7,500 for the deposit.

Make your savings work harder
Naturally, any changes you make will have one similar goal – to help you in saving more money more quickly and making these savings work for you should be a top priority. Open an ISA and use your yearly cash allowance so you don’t pay unnecessary tax. If you don’t already have one, open a savings account and save what you can, even if you think the amounts you are saving are inconsequential, they will soon amount to a worthwhile value. Shop around and see which bank offers the best interest rate on your savings, don’t just take one out with your current banking provider as finding a good interest rate could go a big way to helping you reach your goal faster.

Saving for a deposit can seem like a tall order, so making some sound financial decisions will be the key in to being approved for a mortgage and taking a step on to the property market. Get yourself into the right mindset where you are aware of why you are making some financial changes, remember that they are all short-term, and you’ll see those savings growing faster than you could have ever hoped.

Top tips for moving at Christmas

 

Whether you're a seasoned mover or it's your first time, relocating to a new house is an extremely exciting process – even if there happen to be a couple of bumps along the way.

As you approach the final steps, everything will start snowballing.

So, given that the year we've had has added even more unknowns to the mix, we wanted to let you know what you should expect from a Christmas move in 2020.

Hopefully, with the use of our simple steps, you'll find the experience more manageable with fewer surprises.


Keep track of the forecast

Winter weather is notoriously unpredictable, and with the constant possibility we'll see snow, ice and heavy rain, it is important to check the forecast before the big day so you can adapt accordingly.

Enlisting the help of a removal firm could provide some peace of mind, as the additional support will shoulder some of the responsibility of transporting your belongings to your new home safely.

However, with the industry facing high demand, you might find it more challenging than usual to book for a time and date to suit your plans – especially during peak periods, like weekends.

It's also worth considering that you'll need to comply to social distancing measures, with restrictions on the help you can get from members not within your immediate bubble.



Be organised with boxes

One of the main causes of stress during the moving process is delegating which boxes to put in which room, as we're all familiar with losing key essentials until the last box has been unpacked.

A simple label or colour coding system can completely remove this stress – just remember to be specific.

Similarly, ensuring that you start packaging up your items with plenty of time to spare, and using packing materials such as bubble wrap, will make the whole experience seem seamless.


Notify everyone of your new address

With COVID-19 meaning the majority of us will be turning to online stores to purchase gifts this festive season, ensuring you change your delivery address in plenty of time will ensure you’re not chasing your parcels from one collection point to another.

Likewise, you may want to think about using the Royal Mail's redirect service, as you could lose track of letters, cards and gifts arriving to your previous address.

Inform your utility providers 

As the colder weather hits, there is nothing more comforting than a hot chocolate or seasonal mulled wine by the fire.

To make sure this is still a possibility in your new home, remember to take meter readings and inform your providers that you are moving.

 

Depending on demand, your providers could take a couple of weeks to make the transition over, so informing them early on will mean you can step into a home that's set up and ready to go from the day you get your keys.

 

 

Prepare your household

For households with children and pets, you might find that a change of routine or surroundings can be stressful.

This impact can be lessened by pre-packing a box of essentials containing forms of entertainment, such as books or games for children, and your pets’ bed and favourite toys.

 

Before moving, it's essential you have updated the relevant identification tags or microchips for your cat and / or dog. Should they go missing in their new neighbourhood, this will help you to reunite with them that much sooner.

 

Enjoy!

Once all the hard work unpacking has been done, or you’ve had enough for the day – we won’t judge – it’s important to take stock and give yourself time to process and unwind.

This is a great time to get the board games or cheesy Christmas films out and spend time with the family, you’ve earned it!

 

To see what properties we've brought to market this winter, visit our website.

 

 

 

Keeping your home safe and well ventilated during winter

 

Considering that winter is the 'spike' season for insurance claims – as it's where the majority of problems occur regarding home maintenance – there's never been a better time to implement safety precautions in and around your home.

 

The stress and emotional ordeal caused by the aftermath of a home burglary can be really traumatic.

 

That is why we have strung together three measures that insurance companies recommend homeowners undertake to reduce the chances of a break-in:

 

 

 

Refrain from hiding keys. The best way to go through your daily life is to always assume opportunistic burglars are watching your house, waiting for a window of opportunity.

 

There will naturally be situations out of your control, such as where you or another household member may forget your key when leaving in a rush, so it's worth leaving a spare key with a trusted neighbour rather than in a hidden spot outside of your property. 

 

Implement a reliable security alarm system. Motion-activated floodlights and cameras are effective tools to deter home invasions, and they can prove useful when reporting any attempts by intruders.

 

Light, noise and video devices will immediately make your home less of a target, as they add layers of complexity to what could otherwise be a simple in-and-out home break-in.

 

As an added bonus, insurance companies tend to make greater allowances for homes with modern security systems, so investing in these measures could mean you get a better deal on your cover. 

 

Lock doors and windows. Whilst it's common sense to lock all entry points to your property, it's the one that's most often overlooked – especially with ground-floor windows.

 

Unlocked doors and windows can void any policy protection in place, so it's crucial you remember to keep your home under lock and key.

 

This applies when you leave the property and also at night, as 64% of burglaries occur while residents are at home.*

 

 

 

During winter, it's our natural response to close the windows and blast the central heating on to keep our home warm and toasty.

 

The underlying issue of this is that it stops the air circulating, and – over time – this can cause damp and mould to form.

 

An easy solution is to open windows for periods of time like when someone's cooking or having a shower / bath. Or alternatively, to implement and use extractor fans or dehumidifiers, as these will reduce the chances of forgetting about an opening to your house.

 

For our help as property professionals this winter, contact us today.

 

 

 

*Office for National Statistics

 

How to get your home ready for Christmas

 

With Christmas on its way, our homes will soon become the hub of the season.

 

When starting your preparations, it can be easy to quickly feel overburdened with a never-ending to do list of jobs around the home and supplies to buy.

 

Before the pressure mounts, we've provided a few simple steps to help you take each item step-by-step.

 

Decorating

 

Already in November, reports revealed that many households were decking their homes even earlier this year, in an effort to move 2020 along!

 

Putting up Christmas decorations is the official sign that the holidays are on their way.

 

Whether you're transforming your home into a winter wonderland, investing in a festive wreath or keeping it simple this December, it's important to include the whole family when dressing your house.

 

So grab the Baileys and start untangling the Christmas lights for the moment when everyone gathers around the tree!

 

One of the most effective decorations you can bring into your home is a scented candle, as a cost-effective and subtle way to add to your festive ambience.

 

Many people overlook the importance of getting the scent of your home right, especially when it comes to staging a property for viewings, such as using a mulled wine or winter berries smell in December.

 

 

Preparing the kitchen

With Christmas dinner one of the most highly anticipated events of the year for Brits, it's key to be as organised as possible!

 

That way, you can avoid spending the entire day tucked away finalising kitchen preparations and clean-ups.

 

Give yourself as much space as possible by clearing surfaces in the weeks running up to Christmas. With plenty of seasonal recipes to choose from, it's also worth considering doing as much of the work as you can before the big day arrives.

 

With the promise of leniency on the number of households able to meet, you may also need to stock up on alcohol and desserts to reduce the amount of shop runs needed, with enough glasses and cutlery to serve everyone.

 

On Christmas day, the kitchen can be a natural place for family members to gather. By setting up a drinks table away from where you are preparing food, they can celebrate with you whilst keeping out of the way.

 

Outdoor decorations

Fairy lights are often the most common type of outside decoration and can be placed along your gutting, windows or plants – making your house light up at night.

 

Other effective decorations can also include light-up wreaths for your front door, adding a festive look during the day and night.

 

 

If you're thinking of bringing your property onto the market in the new year, book a consultation with our agents to find out how we can help.

 

 

Ten tips to saving money when moving home

 

Whilst we're all aware of the costs associated with moving, not all of us will know the money saving solutions used by savvy sellers.

 

These top tips will ease the stress of moving on yourself and your wallet, leaving you with more funds for decorating your new place.

 

Pack smart

Keeping your possessions safe when moving is a priority for us all, but it doesn’t have to be costly.

 

Boxes aren’t the only option; washing baskets, bins and suitcases are all environmentally-friendly alternatives that you probably have lying around your home.

 

Refrain from splashing out on bubble wrap and instead save up newspaper to protect those breakable valuables.

Recruit the troops

Hiring removal experts is the most sensible idea when moving, however, it isn’t always the cheapest option.

 

With social distancing restrictions in place, it's also more difficult to bring in additional outside help from friends and family members.

 

Where possible, rely on people within your household and support bubble, with recommendations or online referrals to find the removal firm that's right for your needs and budget.

 

Pick your days wisely

Don’t get caught out by extortionate peak pricing for removal firm bookings.

 

Some companies may hike up their prices on weekends and bank holidays, so opting for a mid-week move can lower the costs significantly.

 

Prepare early

On your moving day, you'll already have enough stress to deal with overseeing the packing and unpacking of your property's contents, so you won't want to deal with any hidden costs that could have been avoided.

 

Before setting off for your new home, it's worth thinking about where you'll park when you get there, and if you'll need any permits to park all day fine-free.

 

Conquer the DIY fear

 

Whilst lockdown has encouraged many of us to dabble in DIY, it's not for everyone, which could mean DIY-shy movers end up paying premium prices for professional help that could have been accomplished with a quick YouTube tutorial.

From building flatpack furniture to fixing kitchen sinks, you'll be surprised at what you can do yourself, and how much that could save you.

Declutter as you go

Getting rid of items you no longer want or need could impact your quoted removals firm service, so bear that in mind before committing to a price, as some companies will price based on content quantity over time taken.

 

Refrain from a moving day takeaway

Takeaways are tempting at the best of times, so when you're unable to find your cutlery or utensils, you might find yourself reaching for the phone.

 

If you're on a budget and want to stick to it, plan ahead and prepare meals that can be eaten at the end of a long day.

 

Or if your temptations do give way, make sure you research local delivery options to avoid paying more than you anticipated.

 

Redirect your mail

Not changing your mailing address can become an expensive pain going back and forth fetching letters addressed to your old house.

 

For a small fee, you can get this changed for you.

 

However, if you want to save the most money, you can do this manually by contacting the companies you know send you mail regularly, for example bills and pay slips as well as any online retail shops you frequently order from. 

 

Swap to the cheapest utility providers

Although it's advisable to search around for the best providers all-year round, it's even more important following a move.

 

You might find that your new area gives you access to better deals and rates, or that certain broadband providers perform slower / faster compared to your previous location.

 

It will also save you the hassle of setting everything up only to decide to switch after a few weeks or months.

 

Frugal furnishings

The goal to a successful move is to create liveable areas in your home until you've finished making it your own with home improvements and renovations.

 

Don’t break the bank by rushing to purchase those finishing touches, as you'll find that adding to each room over time ensures each section of the house has purpose and character.

 

For a second-hand find, try websites such as Freecycle or Gumtree – just make sure you're confident in what the sellers are offering before you pay them.

 

Contact our expert agents to find out more about a seamless moving experience, visit our website.

 

A basic guide to decorating

 

Flick through the pages of any magazine these days or scroll through the popular Pinterest app and you’re likely to see endless images of chic properties with timeless décor. For those of us that are blessed to be able to colour-match and accessorise effortlessly, this is an entirely attainable vision; however, for the rest of us who are a little more challenged in the decorating department, it can be tough to know where to start. Read through our basic guide to decorating and we will provide you with some guidelines which are sure to help you turn your home in to a real page-turner.

Start scheming
So, you have decided to revamp a room, you’re excited and you just want to get the paint brushes out but hold on…you need to take a moment and think about what you really want! Taking a moment or two to plan will help to ensure that the effort you’re going to is really worth it, and having an overall concept will hold all of the interior elements together. Ask yourself what you like and dislike about the room currently and how you want the room to feel - cool and trendy or warm and welcoming? These simple questions will help you to focus in on how you’d like the end result to be and using apps such as Pinterest or Instagram will help you to decide on overall concepts. Creating a mood board for the room will help to streamline your ideas and will serve as a reference throughout the entire decorating process.

Stay in neutral
It may seem like a safe or unimaginative option, but neutrals are timeless when it comes to decorating. When you have a neutral palette to work with, you can layer colours and textures on top of the basic colour scheme in order to achieve your desired look. With new trends popping up seemingly every other day, having a neutral colour scheme allows you to easily change the feel of your room simply by updating the accessories and soft furnishings. You can also add in vibrant pops of colour to lift your room when using a more neutral scheme, with accent pieces such as side tables and upholstery offering some interest in to your colour palette.

Softly, softly
Soft furnishings can put the va va voom in to your room! Having strong accent pieces, as well as coordinated soft furnishings such as curtains, throws, pillows and rugs create a more coherent and cohesive atmosphere in a room. Rotating which soft furnishings you have in your room seasonally works really well to make your room feel up-to-date and contemporary; for example, using a blue rug and pops of yellow during the longer winter months, or some glittery cushions for the festive period. These pops of colour and print will have the desired outcome of a tasteful and chic room.

Simplify
Don’t be scared to leave spaces empty in your room. Horror vacui, a fear of empty spaces, is evident in so much of today’s culture with a tendency to want to display all of our knick-knacks throughout our homes. When you have gone to the effort to stylishly decorate your room, don’t ruin the hard work by then adding in too many objects; instead, let your decorating do the talking for you. If you want to display some of your own items, then ensure to group them and use the rule of thirds; group three objects together in a display rather than two. Groupings of objects which vary in heights, shapes and textures but are related to one another are the most effective for displays; for example, grouping three candles which are different heights but are the same colour.

When renovating a room, it is easy to feel overwhelmed, which is frequently why we shy away from decorating. However, we would recommend taking your time, planning your renovations carefully with a budget and enjoying the process – updating your home will add value to your property, after all, as well as giving you a beautiful home to relax in after a tough day at work.

First time buyers' guide to making an offer

 

If you’re a first-time buyer and have begun the hunt for your first home, you may think that once you’ve found the right one you simply offer what they ask for; job done! However, when it comes to making an offer on a home, there’s a bit more work that should go into it than simply offering the price advertised.

You need to be confident when making an offer that you’re not going to be stung by an inflated asking price or take yourself out of the running by offering too low. To help you prepare, we’ve put together the following information to help you through this stage of the home buying process.

Get some advice
The first step and arguably most important step you need to take is speaking to an expert. If you’re a first-time buyer, then you probably don’t have a wealth of knowledge on how the market works and what you can and can’t afford. Get in touch with a mortgage advisor, get informed on how it all works and more importantly, find out what your price range is so when you do make a formal offer you can do so with confidence.

Research the local market
Once you know how much you’ll be able to spend, it’s time to get a better understanding of your local market. The more research the better. Take a look at what’s up for sale and find out what your budget will get you in each area.

Build a list of key features that your home will need, such as the number of bedrooms or a driveway. The chances of you moving into your dream property with your first move are somewhat slim; however, it’s important that you know what you’re looking for and how much it will cost you in each area.

It would be wise at this point to get in touch with a local estate agent. You can do as much research as possible, but a good local agent will always be a benefit as they will know the market like the back of their hand. This means that they can fill you in on what to expect from vendors and hopefully help you avoid any pitfalls.

Get out there and book some viewings
Now that you’ve done your research on what you want, what you can afford and what the market has to offer, it’s time to book some viewings and get out there. Things can move very quickly in the property market, so your previous work and research leading up to this point will come in handy as there’ll be no time wasted travelling to unsuitable areas or over-priced properties.

While viewing properties, be sure to check out the building's structure and not just its décor. Check for any damage such as cracks in walls or damp. Make sure you understand exactly what you’re getting into and have a good idea of the current state of the home as it can help form your offer.

When you find the right home, be ready to act!
If you’ve managed to find the right home, then it would be best to act quickly as there’s a good chance you’re not the only one eyeing up that house. If you’re ready to make an offer, consider a few things before doing so. How much do other similar properties go for in the area? Does the property need some repairs? Have house prices dropped slightly since the home was first put on the market? We’d all love to knock a few thousand off the asking price, but the seller isn’t going to make such a concession easily, so if your offer is lower than the asking price, you’ll need to demonstrate why.

The Final Steps
Now before you finally put your offer on the table, try and organise all the other pieces of the puzzle beforehand so you are ready to go as soon as it’s accepted. If you’re a first-time buyer then one of your major benefits is that you don’t have to organise selling your own home, but if you can organise such things as surveys and solicitors then it’ll make the process much smoother.

Puppet Theatre: Beastly Belle 

Be charmed and surprised by a new twist on an old tale, inspired by the iconic era of 1920s and 30s cinema.

Click here to read Puppet Theatre: Beastly Belle .

The Serpent's Tale, hosted by Water Gardens

Join the wild and wonky May Queen to discover The Serpent's Tale - an original play on Saturday 28th September. 

Click here to read The Serpent's Tale, hosted by Water Gardens.

Should you pay off your property's mortgage early?

 

New research from financial services firm Hargreaves Lansdown has shown that one in six of us who have purchased a property will either be over 65 by the time the mortgage is fully paid off, or the loan will never be fully paid off. The question stands, therefore, as to whether you should pay your mortgage off early or not?

As the average age of homeowners creeps upwards, and first-time buyers are entering the marketplace beyond 30 years old, the prospect of entering into retirement with a mortgage still to pay is going to be a reality for many. Research conducted by the Financial Conduct Authority supports this notion, with the FCA forecasting that 40% of first-time buyers in 2017 would still be repaying their home loans at 65.

First and foremost, do your sums to see whether you have anything to worry about in the first place. If you are going to be receiving a healthy pension anyway, then the prospect of continuing mortgage payments may not be anything to worry about. On the other hand, if you are going to be on a lower income than you’re currently accustomed to, then mortgage payments may well prove to be a stretch. If this is the case, here are a few options to help you pay that mortgage off sooner:

Overpay whilst you can
Speak with your mortgage provider to see when your prospective final payment is, and use this to incentivise yourself to pay early when you can afford it. Many mortgages will not charge you for overpaying, instead embracing the higher payments so double-check with your provider and overpay in order to bring forwards that final payment date.

Consider remortgaging
With interest rates at record-low levels, many borrowers are now considering remortgaging in order to obtain a more favourable mortgage. Eventually, you will be moved onto your lender’s standard variable rate (SVR) if you do not remortgage or move onto a different deal during your mortgage term. Avoid these less favourable mortgage rates which will extend your mortgage term, and you could slice years off your repayment schedule just by switching providers or plans.

Reduce your mortgage term
Rather than overpaying on your current mortgage plan, reassess your financial status to see what you can really afford now. You will most likely be in a different economic position now to when you first purchased your property, and potentially able to afford higher repayments. If this is the case, and you are likely to remain in a stable position for the foreseeable future, then reducing your term and increasing your monthly payments is a guaranteed way to pay off your mortgage more quickly.

Help to Buy - what are your options for purchasing a home?

 

If you’re a first-time buyer looking to purchase a property, then you’ll almost certainly be aware of the Help to Buy scheme and its success in helping people get onto the property ladder. What you may not be aware of is how the scheme works, and how it helps buyers to secure deposits for homes that would otherwise be out of their reach.

With that in mind, we’ve put together a rough guide to how Help to Buy works.

Can you get a sufficient deposit together?
Most standard mortgages require a deposit of at least 5% of the value of the home you want to purchase. If you are able to get the capital required, then you may not need to apply for any scheme.

Equity Loans
If your deposit doesn’t stretch that far, however, never fear! This is where Help to Buy comes in. If you have a 5% deposit, you can apply for an equity loan for purchasing new-build properties. The Government will lend you up to 20% of the property’s price, but you’ll have to start paying interest on that loan after five years.

For example, should you purchase a £200,000 house, you’d pay £10,000 (5%), get a mortgage for £150,000 (75%) and the Government would loan you the remaining £40,000 (20%).

ISAs
If you’re still saving for that all-important deposit, then a Help to Buy ISA is available to you, with the Government adding 25% on top of the value of your savings, with up to 2.6% interest tax-free. A word of caution; if you’re considering this option, then you would need to apply for your ISA prior to 30th November this year. Click here to learn more.

Shared Ownership
If you can’t stretch your finances to be able to afford the entirety of a mortgage, Shared Ownership provides you with the opportunity to buy a share of your home (between 25% and 75% of the property’s value) whilst paying rent on the remaining share. You can also buy bigger shares in the property once you’re able to, offering you flexibility for the future whilst owning a significant stake in the home you wanted.

Purchasing a home doesn’t have to be beyond any first-time buyer. Speak to our financial experts about your Help to Buy options and find out how you can finally buy the property of your dreams.

Tales From Beyond the Grave - performance workshop

Enjoy a spell-binding performance which brings local history to life this Saturday at Rectory Lane Cemetery. 

Click here to read Tales From Beyond the Grave - performance workshop.

Just A Cappella Singing Group

Just A Cappella is a mixed voice group, who love singing in harmony together and are friendly and sociable.

Click here to read Just A Cappella Singing Group.