Tag Archives: first time buyer

7 tips for moving in to your new home

You’ve sealed the deal, inked the contract and are about to move into your new home at last. But before you take a breather, there’s still plenty to do – some of it is the fun part (furnishings) and some of it is necessary administration tasks. Each of those can be done in a finance-friendly way though.

Here are our top tips for moving in to your new home, and how you could make the most of your finances.

Continue reading

7 tips for first time home buyers

blog_01

Buying your first home can seem at times like climbing a particularly steep hill - daunting, confusing and with several pitfalls along the way.  Prices are still rising, with the average UK first-time buyer home now costing £184,973, 7% up on that of a year ago1.

And finding the money for a deposit without help from the Bank Of Mum And Dad can be a real challenge – the typical first-time buyer deposit is now £33,222 - that’s 133% of an average salary1. The average first-time buyer borrowed 3.49 times their income, and the average first-time buyer loan was an estimated £136,0001.

But with a few simple steps to prepare yourself financially, and make lenders see you in a positive light, you could approach buying your first home with a lot more confidence.

Continue reading

14 new Garden Villages to be built across the UK

Garden Villages to be builtWe now know where the 14 new ‘Garden Villages’  - new towns to help solve the housing crisis – will be. Their locations range from Cumbria to Cornwall.

Government ministers have backed plans for a brand new wave of ‘garden villages’ with between 1,500 and 10,000 new homes, in an effort to confront the growing lack of good housing stock.

Here’s where they are:

Long Marston (Stratford-on-Avon)
Oxfordshire Cotswold (west Oxfordshire)
Deenethorpe (east Northamptonshire)
Culm  (Devon)
Welborne (Hampshire)
West Carclaze (Cornwall)
Dunton Hills (Essex)
Spitalgate Heath (Lincolnshire)
Halsnead (Merseyside)
Longcross (Runnymede and Surrey Heath)
Bailrigg (Lancaster)
Infinity Garden Village (south Derbyshire)
St Cuthberts (near Carlisle)
North Cheshire (Cheshire)

Each village will include green spaces, good links to public transport and a wide mix of house prices, including affordable homes. Continue reading

Home Ownership: the generation game

At a time when younger people are finding it harder than ever to buy their first home, it’s not exactly a surprise to find out that many of them are relying on family support to make buying a property a reality.

Experian research has found that over a quarter (27%) of Britons aged 55+ have provided support to their children or others to help them buy their own property – regardless of how financially comfortable they are, and a significant proportion (15%) of those people say they are ‘not at all’ financially comfortable.

It’s a far cry from how things once were. 60% of 55s and over who have ever owned their own home paid £20,000 (that figure, in 1986, would be around £54,000 in today’s money) or less for their first home, compared to recent figures showing the UK average cost of smaller homes today as £182,926[1].

Continue reading

Calling first time buyers and home improvers!

This coming weekend Experian’s experts are on the road at two home shows in different parts of the country, and we’re looking forward to meeting you.

First Time Buyer Home Show, Croydon, Sat 16 April  #FTBHomeShow
On Saturday 16th April we’ll be at the First Time Buyer Home Show (free entry!) at Fairfield Halls in Croydon, from 10am to 4pm, helping to show how improving and maintaining your credit report can put you in the best position to get a first mortgage.

At 3.30pm Jill O’Connor from Experian will be giving a seminar on how your credit report is made up, what you need to look out for and how you can go about improving your financial situation.

Experian research in December 2014* found that more than a quarter of people in the UK looking to buy their first home before 2016 – around 1.81 million people  – had missed credit repayments, defaulted accounts and CCJs currently listed on their credit report. Continue reading

First Time Buyers: 5 tips to check your credit history

Could your credit history prevent you from getting a mortgage? Experian research has found that more than a quarter of people in the UK looking to buy their first home before 2016 –  around 1.81 million people  – have missed credit repayments, defaulted accounts and CCJs currently listed on their credit report*. And all of these could prevent them from securing a mortgage.

Managing credit accounts such as credit cards, mobile phone contracts and even some utility services can be important in order to build and maintain a good credit rating.

So if you’re looking to get on the housing ladder, how can understanding your credit history prepare you for a mortgage application?  Here are our 5 top tips.    Continue reading

First time buyers: How you can get on the property ladder

Guest blog post from Stephen Dwelley, Director, sharetobuy.com

Visit the London Home Show - 26 September, Queen Elizabeth II Conference Centre, Westminster, 10am-5pm

Visit the London Home Show – 26 September, Queen Elizabeth II Conference Centre, Westminster, 10am-5pm

There are many challenges faced by first time buyers trying to get on the housing ladder, particularly for those without the help of the Bank of Mum and Dad.

First time buyers should not lose hope, however, as there are now a wide range of affordable housing schemes to help people get onto the housing ladder and progress to a larger property. These include:

Continue reading

First-time buyers: check your credit history

Could your credit history prevent you from getting a mortgage?

Experian research suggests that more than a quarter of people in the UK looking to buy their first home before 2016 –  around 1.81 million people  – have missed credit repayments, defaulted accounts and CCJs currently listed on their credit report. And all of these could prevent them from securing a mortgage.

Continue reading