Thinking of buying a property - SmartShare has thousands of properties to buy or rent across the UK
Affordable homes for everyone
Thinking of buying a property - SmartShare has thousands of properties to buy or rent across the UK
According to the Halifax building society house prices rose 1.1% in March 2010.
Other house price indices from Nationwide and Hometrack have also suggested prices rose in March, following a decline in the market in February.
Halifax housing economist Martin Ellis said ‘there are signs that increasing supply is beginning to balance demand, which should help contain price rises.’
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At a recent National Federation Conference on shared ownership, the Homes and Communities Agency (HCA) explained their ethos of working with high street lenders to assist first time buyers purchase affordable homes.
The HCA are already working with national lenders such as Lloyds, Nationwide, Barclays, HSBC and the Royal Bank of Scotland all of which are major supporters of HomeBuy Direct. They are now extending their relationships to include several regional building societies thereby creating a competitive market for low cost housing. A recent success story is East Midlands Melton Mowbray Building Society who are now supporting the HomeBuy Direct equity loan scheme with no deposit required.
The April budget brings good news for first time buyers purchasing a property under £250k as they are no longer required to pay stamp duty.
This will save some first time buyers up to £2,500 and will take effect immediately - the stamp duty holiday will last for two years.
The Chancellor Alistair Darling said: "The housing market has now stabilised and has begun a slow recovery. But many first time buyers, particularly those without large deposits, still find it hard to get a mortgage. I want to help them, but do so in a way that is properly funded."
In order to fund the stamp duty abolishment, buyers purchasing homes costing £1m or more will have to pay 5% in the tax duty - a minimum of £50,000 in tax. This new policy will come into force next April.
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The Homes and Communities Agency has announced nearly £13m will be made available to provide more than 1000 new and affordable homes across the South West.
The 11 key sites include Gloucester, Torquay, Yeovil and Oakhampton creating thousands of jobs and apprenticeships within the construction industry.
Housing Minister John Healey said: 'We’re putting the weight of Government investment into building much-needed affordable homes, keeping people in work and giving young people a chance of apprenticeships.
'That’s why today I’m allocating £83 million to get 87 stalled developments across the country up and running again, creating 1,700 jobs and giving more than 2,200 first-time buyers the chance to take an affordable step onto the property ladder.
'In this recession, the Government has not stepped back and left the homes and jobs we need to the market. We’re using public funding to keep Britain building through the downturn.'
The Homes and Communities Agency has confirmed that a £3m cash injection will be made available to help develop two housing sites in Leicester.
Plans for 42 affordable homes at land north of Manor Farm in Hamilton and 21 homes at Bendbow Rise in Braunstone are being drawn up in an effort to meet the demand for affordable homes and jobs.
Margaret Allen, regional director of the HCA East Midlands, said: 'This investment could not happen without the close working and strong commitment of all parties to get development moving, which would otherwise have been unviable in this market. These high quality schemes will help meet the need for more affordable homes and more local job opportunities in Leicester, while providing a more attractive prospect for the private developer market once the sites are underway.'
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