Help to Buy

Welcome to Home Relief Bulletin Board

Monday  26 August  2019

by the Property  Team

Post No. 103

 

 

Help Low Income Earners and Buyers Need

In the three last series of our Summer property buying campaign, we covered home buying, funding and choosing options.  This week, we are working on the help to buy that low income earners as home buyers need.

Because low income earners are by definition the types of home buyers who do not have enough money to buy a property outright, we are going to work with them on a customised basis on the types of help to buy available for them.

What help to buy low income earners need

Generally, the notion of help to buy is centred on the UK Government-backed schemes.  By definition, Help to Buy is a government scheme which can help first time home buyers get a property with just a 5% deposit. 

Besides this well known scheme, we are going to explore other available support to buy a home for low income earners.

What this week’s work will include

There are many online and print resources available covering Help to Buy, how to qualify and its different options; resources which can be easily accessed. 

For those who are struggling to understand how help to buy works, we will work together with them so that they can understand eligibility criteria and how help to buy works. 

We will also support them to find out their local help to buy agent and to apply the help to buy scheme.

What are the outcomes from this week’s work?

We hope that at the end of this week’s process, prospective home buyers will

√ Become self-confident in putting an application for a help to buy scheme

√ Be informed on what to expect and not to expect from help to buy schemes

√ Be aware on the likely amount eligible from these home-buying schemes

√ Improve the chance and the content of their help to buy files to become eligible

√ Save time in not applying to a scheme that is not suitable or eligible for them

√ Be provided with additional print and digital resources regarding help to buy schemes for low income earners etc.

Need help to buy a home as a low income earner, why not work with Home Relief for information, guidance and advice?

Home seekers and prospective home buyers can consult Home Relief to discuss their individual cases, applications and the suitable options for them.

 

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

For properties to rent and let, go to https://homerelief.co/property-search/

For weekly property news and updates, please read our weekly posts.

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout 2019.

Many thanks!

Home Relief – freelance e-property people dealing with affordable homes

 

 

Finding a Property to Buy

Welcome to Home Relief Bulletin Board

Monday  19 August  2019

by the Property  Team

Post No. 102

 

 

 

The next area of our Summer property campaign for low income earners is about choosing a property to buy. 

After working with them on buying and funding options available in the market, it is now time to start thinking of the kind of property they may wish to buy.

The first choice is not always the last one!

If you are a council or housing association tenant, obviously your first choice of property to buy could be the one you are living in if you like the place and your current landlord/lady is willing to offer it to you to buy.  But, this does not mean this should be the last resort for you.  There are other alternatives as well, like those properties in the new build market.

Developing your property-to-buy choice

Just because someone is on low wage or income, it does not mean they cannot choose.  They can still choose although their choice could be limited compared to those who have enough money to choose and buy a property outright.

Because low income earners’ income and choice are limited, they need to make an informed decision than just being cautious.

Making an informed decision that leads to a better choice

To make an informed decision, we are going to work on a combination of four situations or points to consider which are:

√ Standard points that any buyer would consider.  These are part of the advice that any estate agents will provide to their prospective buyers.  They include: affordability, availability, suitability of the property to buy, location, transport links, restaurants, bars and shops, price and so on of the property to buy.

√ Points related to you as a low income earner (as a particular type of buyer) looking to buy a property

√ Points linked to the New HomeBuild properties and sector (as a specific type of property you are planning to buy).

√ The current shape or state of the housing market with the particularity of the dilemma of exiting or non exiting UK economy

Online search of property to buy

As part of what will be involved in finding a property to buy, we will conduct with prospective home buyers online browsing of properties to buy and visit some of the property shows organised by vendors or their agents.

The above is the content for this week’s campaign.

Need to find a home to buy, need finance to buy a home as a low income earner, why not work with Home Relief for information, guidance and advice?

Home seekers and prospective home buyers can consult Home Relief to discuss their individual cases, applications and the suitable buying options for them.

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

For properties to rent and let, go to https://homerelief.co/property-search/

For weekly property news and updates, please read our weekly posts.

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout 2019.

Many thanks!

Home Relief – freelance e-property people dealing with affordable homes

 

 

Property Funding Options

Welcome to Home Relief Bulletin Board

Monday  12 August  2019

by the Property  Team

Post No. 101

 

 

 

Funding Options for Low Income Earners and Property Buyers

How to buy a house while being on low income

 

In a series of Summer property campaigns, we are dealing this week with the critical issue of finance to buy a property.  We are going specifically to look at how and where to find the difference of income to meet or match the price of the property that low income earners would like to buy, especially in difficult times of economic stagnation.  

Those who earn enough, they can afford to fund their property buying project.  However, for those who do not earn enough (especially those in lower middle and low income brackets), it is often difficult for them to enter the property ladder.  They may not always afford to buy a property outright from an open market unless they get help.

These low income earners are the ones with whom we are working to explore leads and solutions to secure the funding they need to buy a property to live in.

The funding options that we will be dealing with them are those mostly related to the following HomeBuy products: Social HomeBuy, HomeBuy Direct and New Build HomeBuy.  

Some of these products are part of the Government-mandated programmes to help low-income earners to break into homeownership.  These are Government schemes which include Help to Buy, Right to Buy/Right to Acquire, Shared ownership, People with disabilities, Older people, Shared equity schemes and Starter Home scheme

We shall as well consider other home buying financial products (such as guarantor mortgage, funding when buying with friends or family members, funding linked to the right to buy scheme and right to acquire initiative etc.).  

We will first start by assessing the home needs of the prospective home buyers.  Then, we will consider their earning capacity and net income.  Other considerations will be also included such as home buying eligibility criteria, ways of keeping home buyer’s debt-to-income ratio low, of saving down payment to buy a home while renting, etc.

Finally, we will move on to the following funding options:

. Discounts offered by various HomeBuy products

. Financial conversion of prospective home buyers’ wealth and others assets

. Financial security

. Mortgage options available for them

. Bridging loans and finance

etc.

At the end of this process, we hope to come up with them with a basic financial plan to buy a home.

Each prospective home buyer is a special case.  Therefore, there will not be a one size fits all policy.

Where necessary and if requested, leads and signposts will be given to contact affordable independent financial advisers specialised in home buying matters.

Need to buy a home, need finance to buy a home as a low income earner, why not ask Home Relief for information, guidance and advice?

Home seekers and prospective home buyers can consult Home Relief to discuss their individual cases, applications and the suitable options for them. 

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

For properties to rent and let, go to https://homerelief.co/property-search/

For weekly property news and updates, please read our weekly posts.

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout 2019.

Many thanks!

Home Relief – freelance e-property people dealing with affordable homes

 

 

Property Buying Options

Welcome to Home Relief Bulletin Board

Monday  05 August  2019

by the Property  Team

Post No. 100

 

 

Discover Property Buying Options For Low Income Earners

Our Summer campaigns for both landlords/ladies and home seekers continue.

Those landlords/ladies who want to instruct us to let or manage their properties, they are welcome to do so. 

For home seekers and prospective tenants who want to apply for accommodation, we are ready to take your rental applications further. 

While these campaigns have been running, we are dealing with another line of support for low income earners, which is working with them to becoming home owners.

So, as part of our work with low income earners this week, we are exploring with them the available and suitable options for them in order to enter the buying property market. 

Our work is based on case by case according to individual home seeker’s and potential buyer’s circumstances, in looking at the steps they need to take to become property owners. 

We are considering buying options for people who do not earn enough to buy a home outright.  The buying options that we are dealing with for affordable home ownership properties include the following:

√ Shared ownership (a system by which the occupier of a dwelling buys a proportion of the property and pays rent on the reminder, generally to a local authority or housing association)

√ Guarantor mortgage (a system that helps you buy a home even if you have no deposit or your financial circumstances would usually put lenders off)

√ Right to buy scheme from councils if you are council tenants

√ Right to acquire initiative from housing association if you are housing association tenants

√ Buying with friends or family members (what to consider when buying a property with friends or family members in terms of advantages and disadvantages)

We are also considering what some call in the property jargon Home Buy schemes: Open Home Buy, New Build Home Buy and Social Home Buy. 

We will be discussing other relevant matters such as the ban of leaseholds on all new-build homes, zero ground rents on new leases, unfair leasehold practices, etc.

Information, guidance and advice will be given to those who will seek them.

Signposting prospective home buyers to specialist affordable home advice services, is also available as part of our work with home seekers.

Home seekers and prospective home buyers can consult Home Relief to discuss their individual cases, applications and the suitable options for them.

Need to buy a property as a low income earner, contact Home Relief.

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

For properties to rent and let, go to https://homerelief.co/property-search/

For weekly property news and updates, please read our weekly posts.

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout 2019.

Many thanks!

Home Relief – freelance e-property people dealing with affordable homes