First-time Buyers Get on Property Ladder

This article of Exeter Express and Echo on August 29, 2013 discusses Barratt pledge to help first-time buyers in Exeter to get into the property ladder and will have more shot in owning their own home.

Leading house builder Barratt has pledged to help as many first-time buyers in Exeter as possible take their first step on the housing ladder this summer.

Barratt, which has a wide range of developments across Exeter, has a number of schemes available for first time buyers, the most popular being Help to Buy.

The Government-backed scheme, Help to Buy, is helping first time buyers take the first steps onto the housing ladder with just a fice per cent deposit.

"We know first-time buyers face a number of challenges but we believe Help to Buy will give more people than ever before the chance of owning their own home," said Barratt Homes sales director Lee Monk.

"There are so many advantages for first-time buyers. In past years, we know that saving money for a deposit was difficult, but if you can raise the five per cent deposit you will be able to buy a new home with Help to Buy," added Lee.

Help to Buy, which is only available on new homes, is made up an "equity loan" and "mortgage guarantee". This means that you only need a five per cent deposit to qualify for the best mortgage rates and then the Government will lend you up to 20 per cent of the value of your property through an equity loan.

Among those who have bought their first home with Help to Buy are Wayne Bacon and Alicia Andrews.

"We got engaged earlier this year and decided to buy a home together," said Alicia. "Help to Buy was fantastic for us because it shortened the time it would take for us to get onto the property ladder."

If you would like find out more about how Barratt is helping first time buyers call 0844 5710 385 or log onto www.barratthomes.co.uk

Article Source: http://www.thisisexeter.co.uk/time-buyers-property-ladder/story-19721313-detail/story.html#axzz2dLGx3NWR

Report Shows First Total Rise in Northern Ireland House Prices Since 2007

House prices in Northern Ireland have shown an increase across the board for the first time since 2007, according to this new report by BBC News on 21th of August, 2013.

The NI Residential Property Price Index indicates that residential property prices rose by 2% between the first and second quarter of the year.

All property types have increased in value.

This is the first time since the second quarter of 2007 that all property types have shown an increase.

However, prices are still 3% lower than this time last year, and 11% lower than in the first quarter of 2005.

The figures, released every three months by the government's statistics and research agency, are considered the most accurate measure of the state of the housing market in Northern Ireland.

Finance Minister Simon Hamilton said the results of the index were promising and confirmed "the views of local commentators that the property market here is beginning to stabilise".

In the second quarter of 2013, the most rapid rise in price was in the north of Northern Ireland at 6% (Ballymoney, Coleraine, Londonderry, Limavady, Moyle and Strabane ).

The Northern Ireland Statistics and Research Agency has calculated that in the second quarter of 2013 the average house price in NI was £96,327.

The average price for a detached house was £153,063, semi-detached £95,903, terrace £62,690 and apartment £76,884.

Economist John Simpson said houses were still worth less than they were 12 months ago.

Article Source: http://www.bbc.co.uk/news/uk-northern-ireland-23777997