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Home > Service At Your FingerTips (Issue No.31)
Service At Your FingerTips (Issue No.31)
Myfirsthomeltd. Newsletter
Editor’s Letter It had been said that Lord Adair Turner would ban 100% mortgages and stop lenders from offering loans based on high income multiples. Although he said these played an important role in the financial crisis in the UK, he did not announce any new rules. Instead he said the Financial Services Authority (FSA) would be looking at ways to reform the mortgage market and would publish a paper in September outlining the options. At that point a crackdown may be suggested – Turner said setting limits on mortgages could protect consumers from imprudent borrowing, protect banks against risky lending and constrain house prices. However he said such a move might disadvantage First Time Buyers, and that it can be better for some people to take on high loan to value mortgages rather than borrow more expensively through credit cards and other loans. Over the next few weeks our focus will be on the basics covering the following: First Time Buyer Tips (audio) – starting with the first please go to: First Time Buyer Tips No.1. A feedback and dialogue with you the First Time Buyer through various channels to include the following: Follow Us on Twitter: My First Home on Twitter Voice your opinion and Join our community www.myfirsthomesocial.com As you may be currently looking to purchase your first home feel free to download the First Time Buyer Desktop Tool: Try our toolbar So I can still borrow 100%? No. Although there are no rules preventing large loans, lenders have withdrawn from this market entirely. The largest loans available from the big lenders are limited to 90% of a property’s price and many are limiting lending to 85% loan to value. Even at this level interest rates are high – the best loans borrowers have to find deposits of at least 40%. Considering the above, we offer our hand in faith to support the First Time Buyer, kindly feel free to fill out the following applications: I am interested in a Mortgage Only: We shall be happy to pass you unto one of our panel of mortgage advisers for a free mortgage consultation. I am interested in buying a home: We are always seeking new and affordable developments around the country – feel free to fill out the following application. This will help provide and insight to what areas we should be considering. Lenders are now very careful about earnings too – although some banks still offer loans of up to five times salary these are available only to a tiny minority of borrowers with squeaky clean credit records. The days of self-certified mortgages, where lenders based loans on how much a borrower said they earned, are gone and lenders are checking and double-checking proof of income. The My First Home Team hope you will enjoy this newsletter issue as much as we do, thus contributing to making home hunting easier, enjoyable and rewarding. We value your opinion and look forward to your feedback. As a first time buyer we will like you to pose questions allowing us to tap into our resource of Solicitors, Mortgage Advisers, Property Experts, Estate Agents, Property Developers and HomeBuy Providers. By email: tony.wilson@myfirsthomeltd.com By Telephone: 0870 977 0173
7 Ways to get on The First Rung (Posted: March 20, 2009)
Category: First Time Buyers
" Think like an investor – let to support your mortgage payments It might be a great time to start thinking of buying your first home and may find that the location you want to live in is..."
Property – As a long term investment will pay off (Posted: March 20, 2009)
Category: First Time Buyers
" Why buying for the long term & future makes sense It can be said that lack of movement over the past 18 months has led to the accumulation of frustrated potential buyers. And now it..."
All about Location, Location and Location (Posted: March 20, 2009)
Category: Shared Ownership Properties For Sale
" Shilton Park is the smart new suburb of the market town of Carterton. Close to the Cotswolds, this is a truly local community, largely made up of Oxfordshire people. New shops are planned..."
Risk Expert warns of gas danger in let properties (Posted: March 23, 2009)
Category: Lettings
" Landlords, lettings agents and tenants should all have been aware of the legal requirements to have each let property annually check by a CORGI register member but are they all aware of the..."
Buying a shared ownership home: New Build Homebuy (Posted: March 23, 2009)
Category: Hexagon Housing Association
" You want to get into home ownership but London property prices put a mortgage just out of reach. Many people who find themselves in this position choose shared ownership – a more..."
Find out how shared ownership works and what it can do for you. (Posted: March 23, 2009)
Category: Shared ownership with Guinness Northern Counties
" If you are looking for a new build development, please take a look at our properties in our Property Showcase. CENTRAL GRANGE, NEWCASTLE NE3: CLICK HERE Shared ownership allows..."
New Build HomeBuy – Who is Eligible? (Posted: March 20, 2009)
Category: Eligibility for New Build HomeBuy
" Shared Ownership - Part Rent Part Buy by A2Dominion Housing Group Ltd We want to help people who are in need of housing and whose income is sufficient to meet the costs of buying through New..."
Monellan Grove, Caldecotte, Milton Keynes, Buckinghamshire (Posted: March 23, 2009)
Category: Affinity Sutton Shared Ownership Properties
" If you want a place to call home that is affordable and in a beautiful lakeside setting then these brand new apartments available on a part buy/part rent basis are for you. Next to the..."
Now we put together some interesting resources for you to review: 1. Search through a wide selection of First Time Buyer Books at a discount Click Here For More Information 2. Go through our jargon buster with a glossary of terms to help you understand whilst buying your first home Click Here For More Information 3. Free download of the My First Home Toolbar and keep abreast with Tips, News and advice by industry experts Click Here To Download Tool Bar
For the first-time in several years a slow down of the Housing market, has resulted in house builders and developers having large numbers of homes waiting to be sold. To ease their slow moving stocks, they have begun offering buyers incentives and reduced selling prices considerably. It has been well publicised, that many first-time buyers are struggling to get on the property ladder in the United Kingdom. With the commencement of the ‘home buying season,’ myfirsthomeltd.co.uk is launching ‘Service At Your Finger-Tips’ with the objective to further assist first-time prospective purchasers, onto the property ladder. This service is designed to bring house hunters into direct contact with professionals within the industry. We all lead such busy lives nowadays and it’s not surprising that we sometimes struggle to fit everything in. Home hunters finding their dream home is no exception. So whether you’re a first-time buyer too busy with work to look for your first home, an investor looking to expand your portfolio, or busy parents desperate for some more space, but struggling to find time to look between baby-sitting and raising your children. First-time buyers registering with www.myfirsthomeltd.co.uk will have free access to our newsletters, magazines and information centre. Designed to make house hunting easier, enjoyable and rewarding, giving prospective purchasers:-
Technology is transforming the way we search for our next home. Gone are the days when people’s property searches begin with the nose pressed against an estate agent’s Window and hours spent browsing through publications and driving through neighbourhoods. For many first-time buyers, the starting point is instead the internet. For a new experience visit: www.myfirsthomeltd.co.uk and register immediately via the following link: Service AT Your Finger-Tips
My First Home Limited respects your online time and privacy. If you would like to be removed from future mailings, you may unsubscribe by clicking the link below.
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