The most affordable areas in the UK for first-time buyers have been revealed, thanks to new research from the Post Office.
Post Office Money revealed today the top 10 areas in the UK for first-time buyers to get onto the housing market.
The research also revealed that the average first-time buyer will have to spend four years cutting back in order to stand a chance of getting on the property ladder.
The study of more than 1,000 first-time buyers also showed that those looking to buy for the first time have to make compromises to be able to save for their first home.
Blackpool topped the list of areas for first-time buyers, with the average house prince coming in at £112,000.
According to the research, 100 per cent of the area is affordable for buyers, with someone receiving an average of £39,000 a year able to save in four years.
Close behind Blackpool was Lincoln, with the average house price £143,950.
First-time buyers will also have to save for four years, on a salary of a slightly higher £39,834.
Other areas on the top 10 list include Hull, Rotherham, Stoke-on-Trent, Southhampton, Barnsley and Wigan.
Research by the Office for National Statistics also revealed that the average deposit for first homes in the UK last year was £51,500.
Figures varied from £21,571 in Blackpool to £173,431 in London, with 70 per cent of the deposit made up of savings.
Talking about first-time buying and the struggle it is for young people to get on the property ladder, Ross Hunter of Post Office Money commented: “While many prospective buyers choose to make lifestyle compromises as they save towards their first home, there is no ‘right way’ to reach your deposit goals.
“Some FTBs will prefer to take longer saving for a deposit rather than cut back on their monthly spending (23 per cent), whereas others will be willing to compromise on the property itself (17 per cent).
“Half of all FTBs (56 per cent) will also turn to their family for financial assistance to help build their deposit.
“One inevitable element of the house hunt that all buyers will need to contend with is finding an affordable area in which they can invest their hard-earned money.
”Post Office Money has also launched a new online tool, allowing new buyers to map out their deposit plans based specifically on property affordability in their chosen area: www.postoffice.co.uk/mortgages/this-is-my-home ”
Top 10 most affordable areas for first-time buyers
]]>https://briefnews.eu/most-affordable-areas-in-the-uk-for-first-time-buyers-revealed-you-might-be-surprised/feed/0A ‘self-fulfilling prophecy’ is making the housing market more hellish for first-time buyers
https://briefnews.eu/a-self-fulfilling-prophecy-is-making-the-housing-market-more-hellish-for-first-time-buyers/
https://briefnews.eu/a-self-fulfilling-prophecy-is-making-the-housing-market-more-hellish-for-first-time-buyers/#respondWed, 16 May 2018 03:26:48 +0000http://briefnews.eu/a-self-fulfilling-prophecy-is-making-the-housing-market-more-hellish-for-first-time-buyers/Drew Angerer/Getty
The share of Americans who think now is a good time to buy because home prices won’t fall is at a record high, according to the University of Michigan’s consumer sentiment survey.
This is creating a self-fulfilling prophecy that’s making housing more unaffordable for first-time buyers, according to David Rosenberg, Gluskin Sheff’s chief economist.
Home prices are near record highs in many cities across America, and the belief they’ll continue rising is encouraging more people to buy.
The result is a higher barrier to entry for people who want to buy their first homes, according to David Rosenberg, the chief economist at Gluskin Sheff. See the rest of the story at Business Insider
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https://briefnews.eu/a-self-fulfilling-prophecy-is-making-the-housing-market-more-hellish-for-first-time-buyers/feed/0Jeff Sessions takes aim at first-time border crossers and calls for ramping up criminal prosecutions
https://briefnews.eu/jeff-sessions-takes-aim-at-first-time-border-crossers-and-calls-for-ramping-up-criminal-prosecutions/
https://briefnews.eu/jeff-sessions-takes-aim-at-first-time-border-crossers-and-calls-for-ramping-up-criminal-prosecutions/#respondSat, 07 Apr 2018 07:00:47 +0000http://briefnews.eu/jeff-sessions-takes-aim-at-first-time-border-crossers-and-calls-for-ramping-up-criminal-prosecutions/Alex Wong/Getty Images
Attorney General Jeff Sessions ramped up calls to criminally prosecute immigrants who cross illegally into the US.
Sessions said he was ordering U.S. attorneys offices near the Southwest border to prioritize bringing cases against first-time offenders.
On Friday, Trump signed a memorandum ordering the end of the policy known as “catch and release,” in which illegal immigrants are released from detention while awaiting a court hearing on their status.
WASHINGTON/NEW YORK (Reuters) – U.S. Attorney General Jeff Sessions ramped up calls on Friday to criminally prosecute immigrants who cross illegally into the United States, adding to a barrage of statements on immigration by the administration of President Donald Trump this week.See the rest of the story at Business Insider
]]>https://briefnews.eu/jeff-sessions-takes-aim-at-first-time-border-crossers-and-calls-for-ramping-up-criminal-prosecutions/feed/0First-Time Car Buyer? Here's Everything You Need to Know
https://briefnews.eu/first-time-car-buyer-heres-everything-you-need-to-know/
https://briefnews.eu/first-time-car-buyer-heres-everything-you-need-to-know/#respondWed, 14 Mar 2018 22:54:22 +0000http://briefnews.eu/first-time-car-buyer-heres-everything-you-need-to-know/[unable to retrieve full-text content]
Do you lease or buy? Get new or used? And how do you negotiate? We’ve got you covered.
]]>https://briefnews.eu/first-time-car-buyer-heres-everything-you-need-to-know/feed/0Stamp duty exemption to help first-time buyers, but what about deposits?
https://briefnews.eu/stamp-duty-exemption-to-help-first-time-buyers-but-what-about-deposits/
https://briefnews.eu/stamp-duty-exemption-to-help-first-time-buyers-but-what-about-deposits/#respondSun, 14 Jan 2018 22:03:23 +0000http://briefnews.eu/stamp-duty-exemption-to-help-first-time-buyers-but-what-about-deposits/
GETTY
First time buyers have been given a leg up when it comes to buying, but what about deposits?
But one couple determined to save for their first home are now counting down the days to moving in after taking drastic action: cutting out shop-bought coffees on the way to work.
“We set ourselves a deadline when it came to buying our home, so when we were saving we had a plan in place,” says Elisha Marsland, 26, a self-confessed “big-time shopper” who admits she always enjoyed her morning latte.
She and fiancé Mike Kirkham, 32, took just 12 months to save a deposit for their new home in Greater Manchester: “We cut out buying things like a coffee on our way to work and we also reduced our date nights from once a week to once a month,” explains Elisha.
“I even created a spreadsheet so that we could keep track of our savings and make sure we were on target for making our home buying dreams come true.”
Now the couple plan to marry in November and move to their three-bedroom new-build house at Countryside’s Blackberry Vale site in Brinnington before the end of the year.
Related articles
GETTY
Cutting down on the morning coffee was an important way to save for a deposit
We set ourselves a deadline when it came to buying our home, so when we were saving we had a plan in place
Elisha Marsland
“What sold us on the home was the kitchen and the skylight windows,” says Elisha.
“I fell in love; but we genuinely thought that the home was out of our budget because it looked so luxurious. You can imagine our joy when we realised we had a big enough deposit.”
The couple used the Government’s Help To Buy scheme, which requires just a five per cent deposit.
Once buyers have the minimum deposit the scheme offers a 20 per cent government loan so that buyers only need a 75 per cent mortgage.
10 Facts about stamp duty
Wed, November 22, 2017
Stamp duty: 10 Facts about about stamp duty following Philip Hammond’s announcement that the stamp duty reserve tax (SDRT) has been scrapped on all homes valued up to £300,000 for first time buyers.
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10 Facts about stamp duty
The loan is paid back on the sale of the property, or at any time earlier. Help To Buy was introduced to aid first-time buyers but is now available to people who have previously owned a home but don’t any more – although only for properties under £600,000 in England, £300,000 in Wales and £150,000 in Northern Ireland.
Scotland has different rules.
Keen to encourage would-be home-owners to set up savings accounts, even Post Office Money has issued a set of new year savings tips, including setting a goal like Elisha and Mike did.
Owen Woodley, managing director of Post Office Money, says: “Saving for a deposit is undoubtedly one of the biggest hurdles many will face. However, 65 per cent of prospective buyers also underestimate the cost of moving. Therefore, setting a savings target early is important to keep you focused and on track.”
GETTY
The Help to Buy scheme offers a 20 per cent loan so that buyers only need a 75 per cent mortgage
According to Comparemymove.com, the average cost of moving for first-time buyers in London is £7,765.
Although they don’t pay stamp duty on homes under £300,000 (£500,000 in London), higher prices in the capital mean some stamp duty may have to be paid (an average £5,989).
Costs also include conveyancing, surveys and removal services. London’s £7,000-plus figure compares with an average first time buyer’s moving cost of £1,586 in England, £1,531 in Wales and £1,331 in Scotland, says Comparemymove.com.
Post Office Money advises monitoring your spending, so you can identify where to make savings, and using a mortgage affordability calculator, such as the one on postoffice.co.uk, so you know how much you can borrow based on your earnings.
Mortgage advice from Martin Lewis
Mon, December 19, 2016
Martin Lewis warns that the biggest single personal financial risk in 2017 is that mortgage rates will rise rapidly. Here’s the Money Saving Expert’s top mortgage tips.
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Mortgage advice from the Money Saving Expert Martin Lewis
“Before getting a mortgage you will be credit checked, so now is the time to check your own credit report and ensure all the information it contains is accurate and up to date,” says Woodley.
“Plan now to start paying down any outstanding debt, be sure not to miss any agreed payments on utility bills or mobile phone bills and try to make more than the minimum repayment in the six months prior to your mortgage application.”
Elisha Marsland and Mike Kirkham are delighted to have successfully steered through the obstacle course of first-time buying at Blackberry Vale, where there are still homes available through Help To Buy from £159,995 (0161 464 3664; blackberryvale.co.uk).
But for now, says Elisha: “What I’m really excited about is hosting a celebratory gathering in our new open-plan kitchen and dining space. It’s Mike’s birthday in December so I’m looking forward to planning a big party.”
]]>https://briefnews.eu/stamp-duty-exemption-to-help-first-time-buyers-but-what-about-deposits/feed/0First-time drug injection used to execute alleged racially motivated murderer
https://briefnews.eu/first-time-drug-injection-used-to-execute-alleged-racially-motivated-murderer/
https://briefnews.eu/first-time-drug-injection-used-to-execute-alleged-racially-motivated-murderer/#respondFri, 25 Aug 2017 03:36:18 +0000http://briefnews.eu/first-time-drug-injection-used-to-execute-alleged-racially-motivated-murderer/ Mark Asay, the first white man put to death in Florida for the murder of a black man, was executed with a never-before-used, three-drug cocktail.
Asay, 53, who was convicted of double murder in 1987, was pronounced dead at the state prison in Starke at 6:22pm Thursday. His murder convictions are based on the shootings of Robert Lee Booker, 34, and Robert McDowell, 26. Booker was a black man and McDowell was mixed white and Hispanic.
Read more
Etomidate, the anesthetic used to end Asay’s life, had been approved for lethal injections by the Florida Supreme Court, but doctors hired by Asay’s attorneys say the previously unused drug causes pain and involuntary writhing, according to the Guardian.
Earlier Thursday, the high court rejected Asay’s final appeal to avoid his execution without issuing a comment.
Asay hired McDowell, who at the time was a prostitute dressing like a woman. When Asay found out McDowell’s true gender, he killed him, prosecutors said. And when Asay murdered Booker, he purportedly made racist comments toward him.
In an August 23 interview with WJXT’s Tom Wills, Asay acknowledged that he shot and killed McDowell in a drunken rage he does not remember, but Asay denied being a racist and killing Booker.
Asay was asked his thoughts on the August 12 “Unite The Right” rally in Charlottesville, Virginia, that ended with the death of a counter-demonstrator.
“I think it’s foolishness,” he said. “I think it’s time that people come together and accept that it’s just ignorance.”
Asay said in the interview that he had white supremacist tattoos, such as a swastika, but said he only had the ink done to protect himself in jail at the age of 19. Asay stated that he had since covered up, burned or removed the ones on his body that he could reach.
Asay said he was not afraid of dying because he was a born-again Christian. He had also been seeking spiritual guidance from a black man named Norman Smith of Calvary Chapel in Melbourne, Florida.
Smith said Asay admitted to hurling racial epithets at Booker before he murdered him, but mentioned that he was drunk and angry, not a racist.
Smith spent two hours with Asay before he was put to death and the two spoke about the comments he made when killing Booker.
“Until I heard that, I would’ve never known that this man was tagged as a racist,” Smith said.
Before Thursday’s execution, Asay was asked if he wanted to make a final statement before he was put to death, to which he responded, “No sir, I do not. Thank you,” according to WTOP.
A spokeswoman for the Florida Corrections Department, Michelle Glady, said there were no complications during the execution, and Asay did not speak as it transpired.
The execution was Florida’s first since the practice was halted by the US Supreme Court in the state after finding Florida’s methods for sentencing people to execution were unconstitutional.
]]>https://briefnews.eu/first-time-drug-injection-used-to-execute-alleged-racially-motivated-murderer/feed/09 must-have gadgets for first-time parents
https://briefnews.eu/9-must-have-gadgets-for-first-time-parents/
https://briefnews.eu/9-must-have-gadgets-for-first-time-parents/#respondSun, 09 Jul 2017 01:41:55 +0000http://briefnews.eu/9-must-have-gadgets-for-first-time-parents/The Insider Picks team writes about stuff we think you’ll like. Business Insider has affiliate partnerships so we get a share of the revenue from your purchase.
When you and your significant other walk through the threshold of your place with a brand new bundle of joy, any prep work you’ve done beforehand is going to help a lot. Painting the room, building the crib, and picking up a stroller are all easier to do in advance.
There are many tech products for new parents, and we’ve rounded up a few that we think will help smooth out some of the first bumps in the road.
A white noise machine
Amazon
Low, ambient noise can help soothe your child before he or she goes to sleep. There are a lot of white noise machines specifically aimed at children, but we’re going to recommend this one from Marpac instead. It may be as cute looking as your air conditioner, but what it lacks in looks it makes up for in functionality.
Two motors and a fan sit inside the case and can be adjusted to change the sound of the white noise it creates. Parents who’ve used this machine have raved about it on Amazon, claiming it really does help their baby sleep through the night.
Keeping a humidifier in your baby’s room helps to keep dry air from irritating their nose and throat, leaving them more susceptible to sickness. This humidifier from Pure Enrichment will dispense water vapor into the air for 16 hours once its tank is full and automatically turn off when the water level gets too low.
The humidifier is quiet, so much so that some Amazon reviewers were disappointed because they couldn’t also use it as a white noise machine. Its most baby-friendly feature is the fact that it comes with a built-in night light.
Instead of washing your baby’s bottles in a sink or dishwasher, Phillip’s bottle sterilizer lets you clean them in a microwave using steam. The main benefits of cleaning bottles this way are that the microwave gets hotter than those other methods, which helps kill germs, and it takes less time. Plus, if you keep the container sealed, all the bottles inside will stay sterilized for an entire day.
The bottle sterilizer holds six bottles, but the catch is that it’s made to fit with Phillip’s Avent bottles. If you don’t own any baby bottles yet that shouldn’t be a problem, but it is something to keep in mind if you own bottles from other brands. Amazon reviewers had mixed results when trying to use different bottles with this device.
]]>https://briefnews.eu/9-must-have-gadgets-for-first-time-parents/feed/0Homes that are fit for royalty: First-time buyers, family homes, downsizers
https://briefnews.eu/homes-that-are-fit-for-royalty-first-time-buyers-family-homes-downsizers/
https://briefnews.eu/homes-that-are-fit-for-royalty-first-time-buyers-family-homes-downsizers/#respondFri, 24 Feb 2017 01:25:26 +0000http://briefnews.eu/homes-that-are-fit-for-royalty-first-time-buyers-family-homes-downsizers/
ACTON GARDENS
Acton Gardens could make a great first home for Harry and Meghan
Some are even suggesting the perfect solution for Prince William’s growing family and Prince Charles’s possible desire to downsize, too.
While these may be estate agents’ fantasies, many people are at the same stage in life as the three princes so the following suggestions could work just as well for the rest of us.
Related articles
First-time buyers
Acton Gardens is a new community of more than 2,500 homes in west London, with tree-lined streets and a mix of apartments, duplexes, penthouses and townhouses.
The £600million project in Acton is built around new parks, squares and communal gardens plus play areas and allotments, where pedestrians have priority.
The open-plan designs provide flexible living space and there’s lots of natural light thanks to extensive glazing.
“Acton Gardens could make a great first home for Harry and Meghan to start their new life together in vibrant west London,” says Amanda Nesbitt, associate sales and marketing director at Countryside Partnerships South.
ACTON GARDENS
The development is within walking distance of four Tube stations
“Meghan will feel immediately at home, with the striking designs of the homes emulating contemporary apartment blocks found stateside.
“And when Meghan wants to return to the US, Heathrow is just 10 miles away.”
The development is within walking distance of four Tube stations, with Crossrail coming to Acton Main Line station in 2019 and London’s Cycle Superhighway expected to be extended as far as North Acton.
One-bedroom apartments start from £455,000 and two-bedrooms from £595,000.
Help to Buy is available for a selection of properties and all feature a balcony, terrace or winter garden, with rear gardens or decked terraces for the houses (020 8993 6923; actongardens.co.uk).
MILLGATE
Millgate’s luxury Lockeswood development in Eversley, Hampshire
Family homes
Millgate’s luxury Lockeswood development in the village of Eversley, Hampshire, has just the sort of schools nearby that might appeal to the Duke and Duchess of Cambridge for their children Prince George and Princess Charlotte.
The settlement of four homes is surrounded by woodland but is only seven miles from the market town of Wokingham, on the main railway line to London Waterloo, and 12 miles from Reading with Crossrail trains running from December 2019.
Sun, December 25, 2016
Prince George of Cambridge and Princess Charlotte of Cambridge, life in pictures.
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Prince George eats a sweet as he leaves following the morning Christmas Day service
Jonathan Cranley, sales and marketing director at Millgate, says: “The area is awash with famous schools; very close is Eagle House prep which is a feeder for nearby Wellington College. Eton is 23 miles away, close enough for the royal parents to pop by and watch a rugby match.
“And later Prince George is likely to want a year in Sandhurst completing his Army Officer training, also just down the road.”
Each home has large gardens with garages and prices start from £2,350,000 for a five-bedroom house (01252 870222; millgate homes.co.uk).
SPITFIRE
Imperial Row in Ascot, Berkshire
Downsizers
With Prince Charles enjoying the royal family’s horse racing tradition, he and Camilla might like to move to Imperial Row in Ascot, Berkshire, to be on hand for Royal Ascot each June.
The exclusive development of four detached houses is set against a mature landscaped backdrop a few minutes’ walk from Ascot High Street and is conveniently close to Windsor Castle.
Richard Page, sales and marketing director of Spitfire Bespoke Homes, says: “Many older buyers are keen to downsize their land but not necessarily their home. Even when fewer rooms are required, they don’t want smaller rooms.
“They are looking for a lower-maintenance lifestyle, which a new home in manageable landscaped garden affords, without sacrificing space.
“Like Charles and Camilla, their own children may have long since flown the coop but it’s important to them that their home is somewhere that the extended family can gather. These homes are as elegant as any country estate but are cheaper and easier to maintain and offer a greater sense of security.”
Imperial Row’s five-bedroom show home, St James, is for sale at £2,950,000 and its three floors include a kitchen/family/ breakfast room that runs from the front to back of the house, a master suite with dressing room, en suite and balcony plus second-floor leisure suite (01344 623411/01344 295375; spitfirepg.co.uk)