publication date: Jan 8, 2014
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author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
BBC Radio Nottingham - Latest News for Property Buyers and Renters!
Help to Buy – One and Two!
We’ve all heard about the Help to Buy Scheme which is pretty much for those who can afford a property and a mortgage on a monthly basis, but can’t save more than a 5% deposit. This used to be enough but lenders are still fixing their balance sheets, so as a result they are struggling to offer what would be considered as ‘normal’ mortgages.
Here’s a checklist for those
buying a new build and those
buying an existing home and don’t forget it’s for anyone buying or buying and selling up to £600,000.
New for 2014: Over 160 new affordable homes to rent will have been completed by 2015 in NottinghamshireThe good news is there are four new developments which will provide 168 new affordable homes over the next 18 months. This is thanks to a housing partnership scheme between building contractor Westleigh Developments and housing provider Derwent Living.
On average rents will cost around £550 to £600 per month in the area. These properties – some of which have already been rented, will be priced between £360 and £460 per month – so effectively 80% of average rents.
They properties are located in Eastwood, Hucknall, Newark and Nottingham city centre, the partnership schemes will transform disused land and will provide high quality new homes to proactively meet the need for local affordable housing.
