Thousands of first-timers who took advantage of the
Government’s Help to Buy equity scheme – launched five years ago – are about to
be reminded of the extra price to pay for the support received. The scheme allows
borrowers to take out an interest-free loan of up to 20 per cent of the value
of a new-build property worth up to £600,000 – so long as they can scrape
together a five per cent deposit. In
return, the borrower must pay the Government back – plus a share of any
increase in the property’s value when it is sold. But the five-year
interest-free period is almost up for the early adopters. From next month they
will have to start repaying 1.75 per cent interest on the Government loan (and
the rate will rise annually by the Retail Price Index, currently 3.6 per cent,
plus another 1 per cent). Someone who took a 20 per cent loan on a £600,000
property will be paying an extra £175 a month. Read more on the Daily Mail
website.
Fee hikes will price us out of canals, say houseboaters in England and Wales
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Charges to go up by as much as 75% for widest vessels under five-year
licence increases that started in April
Finding an affordable place to live on land...
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