Digney Boyd Estate Agents Newsletter

  • https://www.mortgagesolutionsni.com/mortgage-matters-summer-2022-newsletter/

    26th July 2022

    The clock is ticking for tenants who wish to purchase their homes from the Housing Executive or Housing Associations through the government’s Right to Buy Scheme, originally launched in the 1980s. With only a number of weeks to make an application (closing date is 28 August 2022), now is the time for any groups or individuals interested in getting onto the property ladder to contact their landlord or the Housing Executive to confirm whether they and their property are eligible. How does the scheme work? Tenants who have rented their house from the Housing Executive or Housing Association for 5 years or more are eligible to apply. Detailed information on eligibility and making an application can be accessed through your Housing Association or by contacting the Housing Executive. Once eligibility has been confirmed, the market price is determined by an independent valuer before the relevant discount is applied to calculate the purchase price the tenant will pay. A 20% discount is applied for the first five years the tenant has been living in the property with an additional 2% discount applied for every year after that. The maximum discount awarded is 60% of the value of the house or £24,000 – whichever is the lower amount. Maximum discounts only apply if you are purchasing 100% of the property Why apply for the scheme? Property prices are once again on the increase making it harder to get that initial foot on the property ladder. For those who are currently tenants in social housing but wishing to own their own home, this scheme offers a welcome helping hand from the government. You don’t need to put down any deposit and, because you don’t need to purchase 100% of the property, you can decide on what percentage of the discounted house price you can afford to buy. How can we help? If your application is successful, you will need to secure a mortgage to buy the property. Applying for a mortgage can be a daunting process but we can help. With access to over 50 of the UK’s best known lenders offering thousands of mortgages, we can offer some exclusive deals that you won’t find anywhere else. Our advisers spend time getting to know you and your specific circumstances so that we can provide you with the best guidance and advise. Most importantly, we’ll support you throughout the purchase. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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  • Northern Ireland house prices increase by 15.2% in a year to top the UK table again

    21st July 2022

    Northern Ireland house prices increase by 15.2% in a year to top the UK table again House prices rise again in Northern Ireland. House prices rise again in Northern Ireland. Credit: Source Garrett Hargan June 08 2022 07:54 AM The average house price has risen for eleventh consecutive month across the UK with Northern Ireland top for annual house price inflation. House prices increased by 1% in May, the eleventh consecutive monthly rise with the average house price record set again, now £289,099. Northern Ireland topped the table again this month for annual house price inflation, seeing prices rise by 15.2%, equating to an average of £185,386. In some UK regions the picture in 2012 contrasts sharply to the one today. A decade ago, NI had experienced a house price fall of 9.6% year on year, with the Welsh market seeing a drop of 1.2%.

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