What is Shared Ownership?

What is Shared Ownership?

Only 28% of 18-24 year olds know what shared ownership is and how it works, with only 19% of property buyers in the last ten years using a government buying scheme to secure their property, according to research from Totally Money. Amongst those surveyed, the findings...
Higher rates for additional properties

Higher rates for additional properties

You’ll usually have to pay 3% on top of the normal SDLT (Stamp Duty Land Tax) rates, if buying a new residential property means you’ll own more than one. If you’re replacing your main residence You won’t pay the extra 3% SDLT if the property you’re buying is...
Help to Buy: ISA – How does it work?

Help to Buy: ISA – How does it work?

If you are saving to buy your first home, save money into a Help to Buy: ISA and the Government will boost your savings by 25%. So, for every £200 you save, you will receive a government bonus of £50. The maximum government bonus you can receive is £3,000....
How much of a mortgage can I afford?

How much of a mortgage can I afford?

Traditionally, mortgage lenders applied an income multiple rule to decide on borrowing capability. So if you earned £25,000 per year and the lender lends times this you would be able to achieve £100,000. Nice and simple. Nowadays however it is based on how much the...
Avoid the heartache of the interest-only crisis

Avoid the heartache of the interest-only crisis

There have been numerous warnings about interest-only mortgages in recent years. Just weeks ago, the main UK regulator the Financial Conduct Authority (FCA) said it was “very concerned that a significant number of interest-only customers may not be able to repay the...
Changes to support with Mortgage Interest in 2018

Changes to support with Mortgage Interest in 2018

Are you receiving income related benefits? Do you have a mortgage on your own home? Does the benefit Agency help with your mortgage payments? If yes to all the above then you need to know about these important changes coming to Northern Ireland that will affect you in...