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In this two-minute read, we look at the return of 90% loan to value mortgages (LTV) and the flurry of activity in the housing market.
The property market has received a shot in the arm with some lenders including Nationwide reintroducing 90% LTV mortgages for first-time buyers.
As Nationwide is Britain’s second-biggest lender, the decision is another piece of good news for the sector which has roared back into action in recent weeks.
Metro Bank, Coventry for Intermediaries and Platform, the intermediary arm of the Co-operative Bank, have also brought back 90% LTV products.
Why are 90% LTV mortgages such a big deal?
For many first-time buyers, the most significant barrier to purchasing their own place is getting the deposit together.
With their 10% deposit requirement, 90% LTV mortgages are the most accessible option for those striving to buy their first home.
So, when lenders pulled their 90% LTV deals in June due to uncertainty over the economy, first-time buyers felt the squeeze. This was a broader concern for the industry because if property newbies can’t enter the market, it affects all the other players in the property chain.
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A 2-minute read.
The Chancellor Rishi Sunak has announced sweeping changes this afternoon around Stamp Duty which is excellent news for anyone thinking of buying a home.
Stamp Duty is a tax applied when you buy a property and the announcement that there will be a payment holiday starting immediately means homebuyers will save thousands of pounds.
The Government has raised the stamp duty threshold to £500,000 for all buyers until March 31st, 2021.
That means property purchases below £500,000 will not need to pay ANY stamp duty.
On average that will save homebuyers at least £4500 according to the Chancellor, also meaning 9 out of 10 people will pay no Stamp Duty whatsoever while the holiday lasts.
The move has been welcomed by home buyers and across the property industry. It is being seen as a step on the path to getting Cheltenham and the UK's economy firing on all cylinders again.
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In this three-minute read, we share four simple ways you can get your property ready for sale if you are thinking of moving when lockdown ends. And we share four things we're doing to continue serving our clients and to keep everyone as safe as possible.
As some sections of our society are slowly being 'unlocked' following Boris Johnson's address yesterday evening, there is some light beginning to be seen at the end of the tunnel.
The messages we've all heard from medical officers across the UK is that if we stay very mindful of the threat of Coronavirus, we can eventually defeat this awful disease.
We are awaiting a detailed report from the Government which is set to be released today at 2pm and should clarify some of the questions people thinking of moving may have. We'll be issuing an update around this tomorrow.
We can't rush this, the lockdown is a phased process, as outlined yesterday and everyone still has an essential part to play.
We are receiving more and more enquiries from people thinking about selling when this all ends.
The good news is there are some simple things you can do to get ahead and prepare, should you want to sell and move in the future.
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How to (virtually) make the most of life under lockdown in Cheltenham.
Are these virtual gatherings the new normal in Cheltenham for the foreseeable future?
Life under lockdown and respecting social distancing guidelines needn’t mean you have no social life as this 2-minute read explains.
Across Cheltenham people are getting creative and using technology in several ways to come together during a time when for the good of us all, we’re keeping apart.
Human beings are naturally social animals (some less than others you might say) so being able to keep a connection with colleagues, friends and family is healthy for us. Especially during anxious times like these.
And as Cheltenham went under lockdown people have used technology to stay in touch.
Below are four ideas and links, to help you make the most of life under lockdown and bringing those close to you together – virtually.
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In this two-minute read, we look at the ways technology could shape our homes after the lockdown and beyond.
Before the Coronavirus outbreak, there was a debate around whether the technology was good or bad for society.
But thanks to online home-schooling helping our children, video conferencing allows us to communicate with colleagues and Facetiming meaning we can stay in virtual touch with relatives the debate has waned. And technology has been embraced by more people than ever.
Below are five ways futurologists (people who look at future trends) are predicting our homes may change once the lockdown ends and the 'new normal' begins.