First time buyers surges as more plan to leap onto the property ladder

ladder to the skyThe number of first time buyers jumping onto the property ladder has hit levels not seen since the peak of the last property boom. The latest figures from the Council of Mortgage Lenders (CML), show that the number of mortgages offered to first time buyers is up by 33% on the same time last year, whilst total lending to first timers is up a massive 48% on this time 12 months ago. The number of first ...

Number of people paying Inheritance Tax set to double; will you be one of them?

Crumpled question marks heapNew research has claimed the number of people set to pay Inheritance Tax will double over the next few years. The Telegraph and Times newspapers report that the number of estates due to pay Inheritance Tax is set to rise from 21,000 in 2012 to 42,000 in 2016/17. The rise is mainly due to the freezing of the Inheritance Tax allowance at £325,000 until April 2018, and rising house prices, which are predicted to ...

Mortgages: Thousands of first time buyers take advantage of Help to Buy

iStock_000001310973XSmallNew figures have shown how thousands of first time buyers have taken advantage of the Government’s Help to Buy scheme. The data released by the Department for Communities and Local Government (DCLG), shows 5,375 new homes have been bought over the past six months using the Help to Buy Scheme. Encouragingly 92% of the homes were bought by first time buyers; one of the groups Help to Buy was designed to help. The average price of property bought under the scheme ...

Renters to increase by a million over the next five years

iStock_000022387205XSmallDespite the efforts of the Government to encourage more people to buy their own home, new research has shown the number of renters is on the rise. The figures from high end estate agency Savills, have predicted a 21% increase in the number of people renting their home, equivalent to an extra million people, by 2018. In London, where property prices have risen significantly over recent months, the increase is set to be even higher, at nearly 25%. Six million renters According ...