A new initiative in the UK is helping first time buyers get on the property ladder. The government’s new “Help to Buy 2” scheme could possibly help up to 665,000 homebuyers; buy a property with a deposit of less than £10,000.
House prices are continuing, resulting in many first-time home owners struggling to get on the property ladder. Furthermore, inflation is very high and wage increases are struggling to keep pace.
Demand for housing from first time buyers is on the rise, according to new research.
The study, by estate agents haart, also revealed that the average UK house price increased by 0.9 % in October, with the average has price now at £191,343 – a staggering 115% year-on-year increase.
The report revealed that the average price paid by first time buyers increased by 3.2% month-on-month and 6.1% annually to £152,593.
Four in 10 tenants say that they have needed to borrow money to pay a tenancy deposit in the past, according to new figures from mydeposits.
The leading tenancy deposit protection agency conducted the survey as part of their quarterly tenancy deposit protection (TDP) panel. The research also showed that the average tenant has paid £2,344 on deposits since renting the property.
A quarter of those who have had to borrow to accumulate their deposit said that they did so from their parents, with 10% borrowing from friends and a further 8% doing so from a bank or payday lender.
Being a landlord has a lot of advantages. It is a great way to make the most of your property and help cover the mortgage or enjoy a steady monthly income. However, if you make the leap into being a landlord, it is important to fully understand the relevant laws. There are many important aspects of the law that you should know before you start renting out your property to tenants.
Here are a few important things that you should know about before you become a landlord:
The Government’s Help to Buy scheme has given a boost to business in the construction sector, according to housing minister Kris Hopkins.
The minister made the comment whilst visiting the new Chesterton brick factory in Newcastle-under-Lyne.
After several slow years, the brick industry is increasing production and is planning to stay open over the Christmas period in order to keep up with demand.
A shortage of land in England & Wales, is preventing social landlords from building new homes, according to a new survey.
The survey, by Houses for Homes, found that 55% of housing association executives asked believe a lack of available land is hampering new projects.
40% also said that planning restrictions were also slowing down new developments.
As a landlord it is your responsibility to make sure that your property is ready for the winter months. If you are renting out a property, it needs to be well maintained and suitable for your tenants to live in, no matter how cold the winter weather gets. This means performing pre-winter maintenance and having the appropriate landlord insurance so that you are fully covered.
So how can you make sure that your property is ready for the winter? Here are some tips to keep in mind: