Help to Buy equity loan scheme launches in Wales

The Welsh property market is expected to receive a boost following the launch of the Help to Buy equity loan scheme on January 2, 2014.

 Wales

The Help to Buy equity loan scheme aims to help first time buyers and existing homeowners with a deposit of as little as 5 per cent to buy a new build property. It is available on homes in Wales up to the value of £300,000.

Help to Buy was announced by the Chancellor George Osborne last year, but the equity loan scheme had only been available in England and Scotland.

Help to Buy is divided into two parts – equity loan and mortgage guarantee. Under the equity loan scheme, the Government provides a loan of up to 20 per cent of the value of a new build home, interest free for the first five years.

The mortgage guarantee scheme is already available to buyers in Wales, England and Scotland. It offers lenders the option to purchase a Government guarantee on mortgages on both new build and existing homes, where a borrower has a deposit of between 5 per cent and 20 per cent.

Last November,the Government announced the first set of housing figures for the Help to Buy equity loan scheme in England.

The scheme helped 5,375 buyers during the first six months since launch in April 2013, Communities and Local Government said.

Participants bought properties with an average value of £194,164, more than £20,000 higher than the average price of a home. The average equity loan was £38,703.

December 31, 2013 at 11:23 AM 1 comment

Happy New Year from everyone at Zoopla

From everyone at Zoopla, we’d like to wish you a very Happy New Year!

During the past year, we’ve bought you an abundance of exclusive stories on the Zoopla blog as well as additional content on the site, such as information on the Help to Buy Scheme.

And we look forward to providing more entertaining stories in 2014.

Our most popular blogs of 2013 include:

06.12.13 Osborne

18.11.13 Eamonn Holmes 7

11.10.13 X Factor house 1

06.12.13 Phill Spencer

Help to Buy

December 31, 2013 at 10:00 AM Leave a comment

Phil Spencer’s property tip of the month – tips for getting the inside track on the neighbours

phils-property-dec

When buying a property, very few of us actually think about taking the time to talk to the potential new neighbours. Talking to the neighbours should be a vital part of the buying process. When you buy, the seller will fill out a Seller’s Property Information Form (SPIF) which your solicitor will handle for you, but knocking on the door can head off and warn you of any possible disputes down the line.

The agent selling the property will be a great source of local information when it comes to schools, local amenities and transport, but it’s very unlikely they will know anything about the neighbours, who could be a hive of information info for you, not to mention help you make your buying decision.

1. When you view the property, ask the sellers a general question such as ‘What the neighbours are like’. From this you should get some insight – maybe they have kids, maybe they are elderly, maybe they rent the property – this will help with intros when you do knock at the door.

2. Don’t be afraid to knock at the door, but make sure you try and knock at a time that might suit the neighbours. For instance if they have kids, early morning might not fit in with the school run or if they are elderly, a late night visit might not the best idea. That’s why it is important to ask the owners some questions and get some information on them before knocking.

3. Try not to overstay your welcome and don’t expect to be asked inside for a coffee, but be polite and explain you have been viewing the property and you’re keen to say hello ahead of making any offer.

4. The outside of your neighbour’s house should tell you some of the story. Is it well kept, the garden in a tidy state, does it look well maintained. Clearly you shouldn’t be overly critical as we all lead busy lives, but the exterior could give you valuable clues.

Whilst getting to know your neighbours a little before you move in is only a small part of the buying process it is only takes a little effort into what will likely be your biggest ever investment and in my eyes is well worth doing. Either way you’ll learn something positive or negative that will mean you’re more informed when it comes to possibly making an offer.

December 27, 2013 at 9:51 AM 12 comments

Wishing you a Merry Christmas…

Zoopla loves everything about Christmas, from the Carol singers to the Roast Turkey. And we hope you do too!

Christmas cards

We would like to wish all our readers a happy, healthy and peaceful festive season.

We’ve loved having you visit us and read our articles, blogs, tweets and facebook posts.

See you in the New Year!

December 25, 2013 at 10:00 AM Leave a comment

Top 10 #propertyoftheweek Picks – Christmas Dining

A selection of our top 10 dining rooms that we’d love to be enjoying our Christmas dinner in next week. Listed in no particular order as we’d like to hear what your no.1 is, so please vote in the poll below for your favourite.

1. A cosy dining area complete with open fire.
4 bed in Billingshurst, £895,000 – Chewton Rose

PropertyoftheWeek

2. A dining room fit for a Christmas banquet.
4 bed in Surrey, £2M – Hamptons

PropertyoftheWeek

3. Could you go for a pink theme this Christmas?
5 bed in Leicester, £409,995 – David Wilson Homes

PropertyoftheWeek

4. What a great dining table and a great open plan living space.
4 bed in London, £10.5M – Cluttons

PropertyoftheWeek

5. A beautiful country style dining area.
4 bed in Essex, £2.65M – Savills

PropertyoftheWeek

6. A pretty circular table is great for keeping everyone involved in conversation.
3 bed in London, £999,999 – James Pendleton

PropertyoftheWeek

7. Mixing old style character with a modern touch.
3 bed in London, £3.35M – Banbury Ball

PropertyoftheWeek

8. Homely and cosy feel to this bright family dining room.
5 bed in Pudsey, £550,000 – Waite & Co

PropertyoftheWeek

9. Love the rich colours of this room, perfect for the occasion.
6 bed in Witham, £2.85M – Chewton Rose

PropertyoftheWeek

10. The bench seating ties in beautifully with the exposed beams.
3 bed in London, £2.5M – Domus Nova

PropertyoftheWeek

Send us a link via Twitter to your #propertyoftheweek on Zoopla and our pick of the Top 10 will feature on the blog every Friday.

December 20, 2013 at 12:06 PM Leave a comment

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