UK house prices are expected to fall gradually in 2011, after losing ground overall in the latter months of 2010, according to a respected economic forecaster.
IHS Global Insight is predicting a decline of around 5%, with the value of the typical home losing around 10% from the peak seen in the first half of last [...]
first time buyers
House prices to fall 5% this year
Taylor Wimpey launches first-time buyer mortgage deal
Taylor Wimpey says it has negotiated an exclusive mortgage-guarantee scheme that can provide 95% loan-to-value mortgages for first-time buyers.
The house builder’s Take5 deal, backed by Melton Mowbray Building Society and Saffron Building Society, means that a two-bedroom home can be secured with a deposit of just £5,750, compared with the UK average of £28,770.
Loans are [...]
No “magic bullet” to normalise the mortgage market
The Council of Mortgage Lenders (CML) has responded to a discussion initiated by Housing Minister, Grant Shapps, over the large deposits needed by first-time buyers, by pointing out that lending constraints currently apply to all those who don’t hold a large amount of equity in their homes.
The CML explains that high loan-to-value (LTV) lending is [...]
Mortgage lending stabilises in 2010
Mortgage lending stabilised in 2010 after “very sharp” falls in 2008 and 2009, the Council of Mortgage Lenders (CML) has reported.
Over the whole of last year, there were 529,300 loans advanced for house purchase (worth £77.1 billion) up 3% by volume and 11% by value on a year earlier.
Loans for remortgage were at a [...]
Mortgage lending stable in November
Mortgage lending remained stable in November of last year, compared with October, with the UK’s banks and building societies advancing 44,000 loans for house purchase (worth £6.3 billion), according to new data from the Council of Mortgage Lenders (CML).
However, compared with a year earlier, the figures are down 15% by volume and 13% by [...]
RICS: house prices to lose 2% in 2011
In its forecast for 2011, the Royal Institution of Chartered Surveyors (RICS) says it expects UK house prices to finish the year 2% down.
While the value of the average home is likely to continue to slip over the coming months, falling supply should stabilise the market at some stage before July, with prices possibly edging [...]
RICS: house prices slip further
Activity in the UK housing market continued to slow during November, with house prices slipping further, according to the latest survey from the Royal Institution of Chartered Surveyors (RICS).
Forty-four per cent more chartered surveyors reported falling (rather than rising) prices, as lack of demand continued to stifle the market; regionally, the West Midlands and Northern [...]
Help is still at hand for Stamford Homes first time buyers
ALTHOUGH the past few months have seen a return to the UK housing market by first time buyers, research still suggests that more than a quarter believe it will take them five years to raise a deposit.
A recent study of more than 3,000 potential first time buyers reveals that 28 per cent feel they will need to save for at least five years before finally getting the keys to their own home.
One in 10 respondents have been saving for more than five years and still do not have enough deposit, while 30 per cent have no savings to put towards a deposit at all.
However, there is still help at hand, with new homes builder Stamford Homes offering its own incentives as well as Government shared equity schemes to get first time buyers onto the housing ladder.
These include;
Easystart where customers can own 100 per cent of a brand-new home for 80 per cent of the price with just five per deposit required.
HomeBuy Direct a Government home purchase scheme to help first time buyers onto the property ladder where you own 100 per cent of your home for just 70 per cent of the price, and just five per cent deposit required. This offer was to come to an end in March 2010 but has now been extended until September 2010 and has limited availability.
Stamp duty exemption on homes under £175,000. However, the Government’s exemption holiday ends on December 31.
Stamford Homes regional sales and marketing director Peter Bond said: “While the statistics by themselves do make fairly depressing reading, it is still encouraging that so many people are thinking about buying a home.
“There is evidence that many of our first time buyers have been able to afford their dream home through one of our many incentives schemes available across our developments.
“We recognise that raising a deposit does have its difficulties, but there are other scheme which can take away that pressure of the house buying process.”
For details of new homes around the region, visit www.stamford-homes.co.uk
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Notes to the Editor:
Stamford Homes operates throughout the East Midlands and Lincolnshire and forms a part of Galliford Try’s Housebuilding Division: Galliford Try Homes.
www.stamford-homes.co.uk
Galliford Try Homes operates through four strong regional brands: Linden Homes, Stamford Homes, Midas Homes, and Gerald Wood Homes specialising in brownfield development. The business is capable of developing over 3,000 homes per year, covering the entire region from the West Country to Lincolnshire and the South-East.
www.gallifordtryhomes.co.uk
For further information please contact:
Cetti Long
Media Matters PR
Stamford Homes
Tel: 01733 371363.
E-mail: cetti@mediamatters-pr.co.uk
