Recent Changes To Stamp Duty Could Make Life Easier For 1st Time Buyers!

This week has seen changes to the UK budget that could make pathways to home ownership for 1st time buyers better than we’ve seen for a long time. As always we were given a few tit-bits of information prior to the budget being officially released by Chancellor Phillip Hammond and these leaks made us hopeful that this time around the Government was going to aim to tackle the ongoing housing issues that have blighted this country for years.

The younger generation have in recent decades become dismayed that the prospect of being able to get onto the property ladder has become an unachievable dream for them. This year, massive changes to the key policy on Stamp Duty for First Time Buyers, could mean that home ownership becomes a very real possibility for many.

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Posted in First Time Buyers

Christmas is coming! Get your mortgage now!

Yep, we’ve said it. Christmas will be here before you know it and just as now is the time to start planning your presents, it’s also the time to get cracking if you really want to be eating turkey in your new abode.

December 25th represents a significant deadline for some people. Spending the festive season in a new home is a driving factor for many people who are moving at this time of year, and we typically see the numbers of properties being sold rising at this time of year.

So, if you’re dreaming of putting up your tree in your next home, is there anything you do to get moving now? If you’re prepared to fully focus on paperwork, be sensible about your pricing and get super organised your dream could become a reality, though it will depend on the market demand in your area.

Here’s some tips on speeding up your buying process, so you can toast the festive season in your brand new home.

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Posted in Mortgages

Getting a Mortgage too Daunting for You? Read on!

Getting a mortgage is one of the biggest and scariest commitments you’ll ever make in your life. Once you’ve taken the plunge, it’s true you could be liable for an awful lot of money, but the benefits of having a mortgage can far outweigh the risks.

It can be tempting to stick to renting, there are definitely advantages involved. Relying on a landlord when things go wrong is a safety net for many, but it’s not always as easy as that. When you own your home, you’re the master of the ship. Nobody dictates what you can and can’t do with the place you call home. You don’t have to follow the rules set out in your tenancy. You can do things on your own terms.

You are entering into a big agreement with your mortgage provider, but looking around for the best rates often means you finish up paying for less for your monthly mortgage repayment than you would for your monthly rent. Financial freedom often comes from having a lower repayment and not being so restricted by your finances before payday.

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Posted in First Time Buyers, Mortgages

Think you’re not able to get your foot on that property ladder? Think again!

In the current climate, many people see home ownership as an impossible dream. Trying to get a foot on the property ladder can be a real struggle. Many people are leaving university with a huge debt behind them and starting low paid, entry level first jobs. Being able to save enough money for a deposit is a common problem.

But the government has introduced a number of different Help to Buy schemes, all aimed at those struggling to buy their first home.

We’ve explained them all for you here, to try and help you navigate the maze.

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Posted in First Time Buyers

Amazing New Mortgage Deals Released

Last month saw the release off two great offers from different banks, making it even more achievable for you to own your own home.

The Bank of Ireland UK has announced a range of 95% loan-to-value (LTV) mortgage deals to replace the government’s Help to Buy mortgage guarantee scheme which came to a close at the end of 2016.

The purchase-only scheme includes three products which come with a minimum loan size of £50,000.

Deals in the scheme are a two-year fixed rate at 3.89%, a three-year fix at 3.98% and a five-year deal at 4.09%.

The bank stated that it hoped its range will give greater opportunities to first-time buyers, particularly those who are struggling to save a deposit.

Alison Pallett, Director of Sales at the Bank of Ireland UK, said: “We believe that first-time buyers are integral to the long-term health of the housing market, helping to stimulate activity at all stages of home ownership. We hope that this new proposition will help to enable the next generation of home owners to take their first steps onto the housing ladder.”

It was also announced last month by Clydesdale Bank that they will be waiving the valuation fee on their first time buyer range, but for a limited time only.

They are currently offering FTB products including a two-year fixed rate at 3.59% up to 95% LTV. Three-year fixed rates start from 2.89% up to 90% LTV and 3.99% at 95% LTV.

The bank is able to lend up to five times the income (sole or joint) of mortgage applicants, depending on the overall affordability.

They are also reducing rates across its mortgage range by up to 0.50%. Two-year fixed rates now start from 1.34% at 75% LTV. Five-year fixes are available from 2.04% at 75% LTV, rising to 2.19% at 80% LTV.

Here at Limetree Financial Services, we are able to access offers from Clydesdale Bank, where not all brokers can. So do call us today for more information about this incredible deal while it lasts!

Posted in Mortgages, News