Areas of the country have seen soaring house prices in the last couple of years, partly due to the demand from Landlords looking for property investment, fuelled by demand from the private rental sector. Properties at the bottom end of the housing ladder have been snapped up by these landlords, at the expense of First Time Buyers.

The Government has launched an “Own your Home Campaign” offering various initiatives to help people onto the property ladder.

1st December 2015 sees the launch of the government’s Help to Buy ISA scheme for first-time buyers.

Although it doesn’t help anyone buying today, Help to Buy ISAs are a no-brainer if you're saving your deposit for your first home. It's basically a tax-free savings account, in which the Government adds another 25% on top of whatever you've saved. Free money from the Government!! And if there are two of you buying together, both qualify! You can save up to £1,200 in the first month, then up to £200, or whatever you can afford a month after that. (The government’s bonus is sent to your solicitor when you buy your home). Most of the banks and building societies will be offering H2B ISA'S, so it’s a good idea to shop around for the best rate.

Help to Buy ISA can be used for any property costing under £250,000 (£450,000 in London), and unlike other recent schemes, doesn’t have to be used to buy a “new build” home.

It became clear that the government has decided to attack the problem from both sides, when the chancellor announced changes to stamp duty on Buy to Let properties in his autumn statement.

 For more information speak to a mortgage adviser on 01628 507477.

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