THE 2015 PROPERTY MARKET
The news that home ownership has fallen to a 30 year low, while banks are curbing mortgages for young people, means 2015 might just be the year to find more creative ways of getting onto the housing ladder. This month, rates of lending dropped from five to around four times an average worker’s salary, after a Bank of England directive to get first time buying in hand.
THE NEW BUY TO LET
If you have built up a bit of a deposit but can’t get a big enough mortgage to actually buy, investing in someone else’s property might be the answer. Just don’t expect to be living in your investment property!
THE NEW FLATS – HOUSEBOATS!!
Once upon a time, renters wanting to own would either downsize, or shift to a less ‘hip part of town! Now however in order to afford a central location you might just have to go mobile!! With mooring oppertunities on offer in expensive cities such as London, Birmingham and Oxford, ‘home ownership’ might be something you could float on, especially when a boat can cost under £100,000 and are often suprisingly swish! Below are some of our favourites!!
LOOKING FOR THE MORE STANDARD PURCHASE?
If you have your deposit ready check out our website for new instructions