Zoopla.co.uk Blog
Why New Buy could mean goodbye to savings stress in 2013
As any would-be first-time buyer (FTB) knows who has spent five minutes with a calculator working out how much they need to save, affording a home is hard.
So hard, in fact, that the Government stepped in earlier this year March, launching NewBuy, the latest scheme to help people ease their way onto the housing ladder. It aims to lower the amount of money required for a deposit up to the value of £500,000 (if you are buying a newbuild home), achieved by the Government and developers putting a percentage of the property’s value into a mortgage indemnity pot. This frees up lenders to loan more money – as much as 95 per cent of the sale price of the property.
So for a £200,000 property, the minimum deposit required is £10,000, a third less than you’d need if you bought without the Newbuy scheme. Not only that, but according to Adrian MacDiarmid, Barratt Homes’ head of mortgage lender relations, you’ll be able to borrow at a better rate, starting at around 4.5 per cent.
Oxford Homes Direct are estate agents in Oxford. Letting agents,Oxford. House to rent Oxford. Property for sale Oxford. Flats in Oxford for rent. House for sale Oxford. Apartments for rent Oxford. Find houses Oxford. Rooms to rent Oxford. Homes direct in Oxford. Make the right move & find Oxford apartments, estate agents Oxford. www.oxfordhomesdirect.co.uk Oxford estate agents & Oxford letting agent. Rightmove, Oxford. Primelocation, Oxford. Rightmove, Oxford
No comments:
Post a Comment