The government will fail to meet its target of building 1.5m homes by the end of the decade, house builders have warned in a letter to the budget watchdog - a fresh blow to Rachel Reeves ahead of what is expected to be a difficult budget in November. In a letter to the Office for Budget Responsibility (OBR), the Home Builders Federation (HBF) - the representative body
More than 27,000 new-buyer mortgages were drawn down in the year to end of September. This is the highest annualised number since 2007, according to the Banking and Payments Federation of Ireland (BPFI). First-time buyers continue to be the most active segment in the market, ­accounting for six out of 10 mortgage drawdowns in that period, during which close to 46,000 mortgages were drawn down.
To qualify for the tax rebate available under the HTB scheme, you must adhere to certain conditions, including that you live in the property as your main home for five years after purchasing or building the property. If you cease to occupy the property as your main residence before those five years are up, the HTB payment must be repaid to Revenue in whole or in part.
There's no arguing it: $36,990 and $39,990 for the Model 3 Standard and Model Y Standard were not what consumers had in mind. But, despite Tesla getting its new offerings to a price that is not necessarily as low as many expected, the two cars still have a chance to assist with quarterly deliveries. Here's how: First-time Tesla buyers will lean toward Standard models
The drop in would-be movers, who own a home but are looking to either move to somewhere bigger or downsize, fell more sharply, down 16.8pc year-on-year in August. Those movers who did get a loan are looking to borrow more, an average of €384,887, compared with the €325,934 average for first-time buyers. The slowdown among movers combined with the lack of new housing completions points to a further strain on supply for first-time buyers.
The CEO of Meredith Whitney Advisory Group, whose prediction of the Great Financial Crisis earned her the moniker "Oracle of Wall Street," pointed out in a Financial Times op-ed that more than 54% of homes are owned by seniors, up from 44% in 2008. She added that 79% of seniors own their homes, and three-fourths of them don't have a mortgage, meaning they have an enormous amount of equity that can help cover rising homeownership costs, such as insurance.
A carefully measured relaxation of mortgage lending criteria could open the door for more first-time buyers without triggering a significant rise in loan defaults, a leading banking and finance body has suggested. UK Finance's analysis indicates that a modest increase in lending, facilitated by reduced stress rates, could enhance mortgage accessibility, particularly for those entering the property market for the first time, without substantially increasing arrears.
"Ranch homes are often the preference of first-time buyers and empty nesters due to single-story convenience and ease of maintenance. The style is particularly well-liked in Sun Belt states like Texas and Arizona," said Alexei Morgado, real estate agent and CEO of Lexawise.
The Financial Conduct Authority (FCA) has released a discussion paper outlining the potential benefits and risks of rule changes, aiming to support wider access to sustainable home ownership.
