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 ...

To rent or buy? The question which splits first time buyers

English HomesNew data has painted a confusing picture of the first time buyer housing market. The Council of Mortgage Lenders (CML), has released figures which show the number of first time buyers rose by 41% in July 2013, compared to the same time last year. In contrast, research from insurer LV=, formerly known as Liverpool Victoria, has shown many people of first time buyer age are happy to continue to rent. First time buyers on the rise The CML data shows a total ...

Mortgage & Housing round up: House prices rise amid fears of another housing ‘bubble’

Housing & mortgage round up_istockphotoJust as the market is recovering from the last housing ‘bubble’ being burst another is being predicted. We’ve pulled together this and the rest of the week’s housing and mortgage news, including a rise in mortgage lending, plus news that borrowers in the north of the UK are more likely to be in negative equity or have arrears and a look at the rising cost of renting. Mortgage arrears and negative equity worse in ...

Housing & Mortgage round up: House prices rise as stamp duty is attacked

Housing & mortgage round up_istockphotoWe start this week with news that house prices are rising, whilst a report reveals that homes in the UK are overvalued. We also look at a call to reform stamp duty after revelations that it will soon raise more money for the government that tobacco. House price survey #1: Nationwide In the first house price survey of the week, the Nationwide Building Society, reported “modest growth” of 0.4% during May; taking the value of the average home to £167,912. The UK’s largest building society also revealed that house ...