First time buyers still have options to help them get on the property ladder

Times are hard, and now we’re hearing that the UK’s economic recovery is ‘paralysed’ by Europe’s debt crisis. With the economy the way it is, first time buyers often write off the possibility of ever getting on the property ladder and believe they are set to rent for the rest of their lives. This is not the case anymore, with the government; various agencies; housing associations and property developers now offering a range of deals to help first time buyers get on that crucial ladder. Here are 5 tips that can help you keep those costs down…

Shared ownership

Shared-ownership is a terrific way into home ownership and is the main affordable housing scheme. If you cannot afford to buy outright, you can part buy part rent your home – you pay a rent on the share that you do not buy which is set at an ‘affordable’ rate. The bigger the share that you purchase, the less rent you have to pay.

The FirstBuy scheme

Saving for a deposit is something that holds lots of first time buyers back. Schemes like this give you a step up onto the ladder, by lending you some of the money through a shared equity offer. If you purchase your first home in England though the FirstBuy scheme, your deposit could be as low as 4% – there are online calculators to see the difference it could make. If you are looking in Scotland or Wales, there’s a similar scheme called Head Start.

Avoiding stamp dut

Not an offer as such, but a way to reduce the cost of purchasing your own home. If your home’s value is less than £250,000 there’s no Stamp Duty to pay if you complete before March 24, 2012. That could save you up to £2,500 when you move.

Family ownership with your parents

It is becoming increasingly popular for young single people to include their parents on their mortgages. Even if they just own 1% of the property this security enables you to borrow more money from the bank and buy a more expensive property.

Move to a cheaper area

This does not sound like a perfect solution but sometimes in life, we have to take a step sideways to move forwards. House prices in some areas are much cheaper. If you are willing to move to these areas then you can make buying a house a real possibility. You never know, you may make a hefty profit in the end. It is worth bearing in mind that cheaper areas do not always mean lower quality. For example, some areas are more expensive because they are close to good schools so it is worth researching prices in different areas.

Tags: buying, ownership shared-ownership, way, Wales, deals, Equity sharing, housing associations, stamp duty, main

New pet owners should get their pets insured

With Christmas Day now over for another year there are many households that will have a new addition to the family in the form of a new pet, such as a cat or dog. However, whilst families will be looking forward to starting the New Year with a new member of the family it is also important to start thinking about the health and welfare of the pet as early on as possible.

It is important for new pet owners to start thinking about getting their pet some health insurance, so that if they pet falls ill or suffers an accident it can get treatment or medication without the owners having to worry about finding the huge amounts of money that this can cost without insurance cover.

Officials have advised new pet owners to compare pet insurance to find a good deal, and to make sure that their pet gets the protection of health insurance as soon as possible. This is particularly important for those that have had younger pets such as kittens and puppies, as they are more susceptible to health problems.

Whilst there are a number of insurance companies that offer competitive health insurance policies there are also some veterinary surgeries that offer their own pet cover, so when you get your pet registered with a pet – which should also be done as soon as possible – you can enquire about their own bespoke pet health cover schemes.

Without pet insurance cover in place it can be very difficult for pet owners if something happens to their beloved animal, but with cover in place pets will have the protection of being able to get treatment and medications quickly and easily if the need arises, and pet owners will be able to enjoy peace of mind.

Tags: Pet Emergency Management, pet, protection, worry, Ownership, officials, new pet owners, welfare