Category: FirstTime
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First-time homeownership slips further out of reach without family assistance
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Bore than ten buyers for the first time can buy a house without family assistance, and it also revealed a new research from the Skipton group. The owner of the CONNELS Real Estate Agency calculates that only 11.5 percent of potential homeowners are able to buy in their local area…
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Mortgage reforms set to loosen for first-time buyers in pro-growth push
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First-time buyers may find it easier to get on the property ladder under proposals to ease mortgage rules, while financial regulators explore ways to enable “responsible risk-taking” among borrowers. It is understood that the Financial Conduct Authority and other regulators are considering amendments to current lending guidelines, which could allow…
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First-time buyers rush to complete purchases ahead of stamp duty increase
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First-time homebuyers in some of the UK’s most expensive areas are rushing to finalize property purchases before April 1, when stamp duty costs are set to rise by an average of £6,300, according to new data from Rightmove. Demand for homes among first-time buyers in London has risen by 3…
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Labour to Make Mortgage Guarantee Scheme Permanent for First-Time Buyers
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Labor has announced plans to permanently extend the mortgage guarantee scheme, initially introduced by the Conservatives in 2021 under then-Chancellor Rishi Sunak, if they win the next general election. The scheme, designed to support low-deposit mortgages for first-time buyers, was recently extended until July next year by current chancellor Jeremy…