Tag Archives: mortgages

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

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

How prepared are you for an interest rate rise?

Are you one of the many homeowners that might be affected by a rise in your mortgage rate? 

It’s been a long time coming, but after almost six years many experts believe an interest rate rise is coming some time soon. Since March 2009 the Bank of England rate has stood at a record low of 0.5%, having been as high as 4.5% just five months earlier in October 2008.

The Centre for Economics and Business Research (CEBR) says that it could mean as much as £119 added to the average monthly mortgage payment across the country, with figures in the south-east much higher.

Do you know how an interest rate rise might affect you?  Watch this video to see what some people said when we went on to the streets to ask for some thoughts.

Continue reading