More than 15,000 people have signed up to buy a home under the government’s Help to Buy: equity loan scheme. Housing Minister Kris Hopkins said the figures showed there was a renewed confidence in the housing market. The scheme came into effect on 1 April 2013 and applies to new build properties only. To qualify,
The ‘Help to Buy: mortgage guarantee’ scheme has been introduced three months early to boost the housing market and enable more people to own their own home. The scheme applies to both new build and older properties and is available to both existing homeowners and first-time buyers. It was due to be introduced in January
The EU wants lenders to provide homebuyers with more information about their mortgages, including “worst case scenarios” of what could happen if rates increase unexpectedly. It means lenders will have to show the maximum interest rate they have charged in the last 20 years. A statement from the European Parliament says: “”Anyone signing up for
The number of buyers entering the housing market is at its highest level for four years, according to the Royal Institution of Chartered Surveyors (RICS). The biggest increases in activity came in theWest Midlandsand the North East, which were among the areas worst affected by the market crash. However, every area of the country saw
Figures released by the Halifax suggest that house prices are rising at the fastest annual rate for three years. The Halifax survey found that prices in the three months to the end of June were 2.1% higher than in the previous quarter and 3.7% higher than in the same period last year. Halifax spokesman Martin
Four thousand people reserved a home through the Help to Buy scheme in the two months since it came into effect in April. The Home Builders Federation is delighted with the response and says the industry will have to significantly increase the output of new homes. The Help to Buy: equity loan scheme applies to
The number of tenants buying their council homes under the Government discount scheme, Right to Buy, has more than doubled over the last year. Right to Buy offers eligible tenants discounts of up to £100,000 in London and up to £75,000 in other areas. The latest figures show that the number of homes sold between
A Government proposal could cut costs for many people planning to build a new home. Under the current system, new homes above a certain size are subject to the Community Infrastructure Levy. The levy allows councils to raise funds from developers undertaking new building projects in their area. The money raised is used to fund
Chancellor George Osborne has announced two new schemes designed to help potential homebuyers who can afford to pay a mortgage but find it difficult to raise a large deposit. The measures were announced in the Budget. The first scheme is called Help to Buy: equity loan, and applies to new build properties only. It expands
A buyer who pulled out of a house purchase has been ordered to pay compensation for the fall in value that took place in the two years after the deal fell through. The buyer had argued that forfeiting his deposit should be adequate compensation, but the Court of Appeal disagreed. The case involved a buyer