Over 300,000 homes sold with Help to Buy
A young farmer from Leicestershire has become the 300,000th homeowner to use the Help to Buy: Equity Loan Scheme since its launch in 2013.
From:
13 May 2021
Sam Legg, 19, from Asfordby, bought the 300,000th Help to Buy home and is now urging others to join the government scheme.
313,043 households have now bought a home with the support of the Help to Buy: Equity Loan Scheme since its launch in 2013
In the 3 months up to December 2020, there were 21,026 completions, the highest quarterly annual total ever and 40% higher than the same period in 2019
Most of the home purchases in the Help to Buy: Equity Loan scheme were made by first-time buyers, accounting for 257,520 (82%) of total purchases
The consumption response to borrowing constraints in the mortgage market
Image
How is household consumption affected by borrowing constraints in the mortgage market? In a new paper, we answer this question by studying the United Kingdom’s Help-to-Buy (HTB) program over 2014–16. The program facilitated home purchases with only a 5% down payment and resulted in a sharp relaxation of the down payment constraint. We show that HTB boosted household consumption in addition to stimulating housing market activity. Home purchases increased by 11%, and the increase was driven almost entirely by first-time and young buyers. In addition, household consumption grew by 5% more in parts of the United Kingdom that were more exposed to the program. Relaxing the down payment constraint thus has important macroeconomic effects that extend beyond the housing market.
Shared ownership buyers purchase a percentage of a home and rent the rest
New rules mean they can buy as little as 10% of a property, and increase the proportion they own by 1% a year with reduced fees
We asked experts how shared ownership works, whether you can get a mortgage and what costs potential buyers need to look out for
Getty
There are many people interested in solar power, and it makes good financial sense, too. If you live in the right area of the country and have a large enough home solar array, you can completely eliminate your electric bill. Think about that: $0 every month for your electricity.
Solar panels aren’t free, though. You can expect to spend about $20,000 for a home solar system, depending on the number of panels you need. Many homeowners are still able to break even in about seven to eight years despite the high cost. But unless you have a spare $20,000 lying around, you may need to consider a solar loan to get started.
What Is A Solar Loan? news8000.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news8000.com Daily Mail and Mail on Sunday newspapers.