Now Is A Good Time To Secure Your First Home
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Now Is A Good Time To Secure Your First Home

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Carl Shave | October 28, 2021

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There are thousands of job vacancies across the country, not least a shortage of lorry drivers and hospitality workers, with salaries rising to match demand benefiting people of all ages, many of whom are likely to be changing careers as businesses adapt to a different way of working.

First time buyers who deferred their home ownership ambitions because of uncertainty caused by the pandemic are now back in the market, confident in their futures and determined to get on with their lives.

There are a number of government-sponsored schemes to support first time buyers, particularly focusing on key workers, whether in the NHS, Police, education or other essential services. For information as you start your search, check out www.ownyourhome.gov.uk or www.gov.uk/government/news/discountedhomes-for-key-workers.

In June, the government launched the First Homes scheme promoting 30% discounts on the market price of new homes in popular areas, where local people were being forced out by rising prices caused by second home owners and holiday lets.

Despite having lived there all their lives, and wishing to pursue careers close to family and friends, young people are increasingly moving further away to find somewhere affordable, adversely affecting the local economy and socialisation. The scheme is in its infancy, but is expected to expand in the coming years.

Community Land Trusts (www.communitylandtrusts.org.uk) are another source of value for money homes, with developments tailored to local need, owned and managed by local organisations.

Developers recognise the pressures on first time buyers, and are working with government schemes to ensure their projects are suited to the longer term ambitions of young people, and projects are often designed with flexible accommodation allowing families to expand, and good sized gardens/public space for social interaction with neighbours.

To be in the best position to secure your first home, the first step is to agree your mortgage in principle as soon as you decide to start the search. Our experienced advisers at Just Mortgage Brokers are available to help, identifying the best options to suit your finances and aspirations.

 

 

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