According to Finder the average age for a first-time buyer is 34 in the UK, and the average deposit in January 2021 was measure at £57,000 according to Halifax! A new Government scheme was unveiled last year to help those with only
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We all know that buying a home is a huge financial commitment so it’s imperative as a first-time buyer to avoid some of the mistakes people so commonly make, and here’s how: 1. Avoiding getting a decision in principle. This is a
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Grandparents and parents are you wishing to help your loved ones buy their first home? We firstly advice that you read our first two mini articles before processing the following Options of how to gift a deposit: Equity Release: for homeowners
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Things to know about the tax implications of gifting cash to a relative If you die within 7 years of gifting cash to a relative the recipient may end up paying inheritance tax on the money you gift them! You can gift
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Most mortgage lenders are happy to accept gifted deposits from a family member. However, there are a few lenders that will block who the money can be gifted by. The best thing you can do is seek our advice to have a
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BTL’s as they are known in the industry, not to be confused with a BLT have surged in popularity in the last year. “234,000 buy to let mortgage loans were taken out in the last 12 months” Source: Finder UK June 2021
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Known as an SVR in the mortgage world a Standard Variable Rate Mortgage rate is usually set by a building society, bank of specialist lender. SVR’s tend to work out lower than other deals such as a Fixed Rate Mortgage and Tracker
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