saving-for-your-first-home

Saving for your first home: ISAs, bank accounts and more

For many first time buyers, the most daunting part of the home buying process is saving for a house deposit. In particular, many wonder how to save for a house on a lower income and whether it’s even possible to do it at all.

Pocket Living is built around the idea that everyone should have a fair opportunity to get onto the housing ladder, so we’re going to share our best tips on saving for your first home, whatever your circumstances. We’ve included a range of information on ISAs, bank accounts and more to show you that there are plenty of options to consider to get yourself onto the housing ladder. Let’s get started.

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Can-a-mortgage-offer-be-withdrawn-or-extended

Can a mortgage offer be withdrawn or extended?

Buying a home can be a daunting experience. The mortgage process is not only the most important thing to understand, but arguably the most confusing. That’s why we’re here to help you get to the bottom of your most pressing questions so that you can begin your first time buyer journey.

If you’re a first time home buyer looking to demystify mortgage offers, read on. This blog post will provide a whistle stop tour of everything you need to know about mortgage withdrawals and extensions.

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Preparing for First Homes: Long term thinking is needed to make sure these homes help the people who need them most

A blog by Thomasin Renshaw, Development Director

When the Government announced the First Homes policy, Pocket Living welcomed the ambition. The premise of the policy is identical to what we have been doing for years, namely opening up homeownership to young middle earners by selling at a discount.

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The government’s mortgage guarantee scheme explained

The onset of the pandemic in the spring of 2020 quickly lead to the withdrawal of low-deposit mortgages, as property valuations ground to a halt and lenders looked for ways to manage business levels.

Over the last 12 months, the market has gradually opened up again, and the budget announcement in March saw the Government confirm its intention to support the housing sector by increasing the availability of 95% mortgages.

Here, we have broken down how the government’s mortgage guarantee scheme works.

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Is it better to rent or buy in London?

If you rent, deciding whether to take the plunge and buy a property is probably the biggest decision you’ll ever make.

For many people, the decision will be swayed by what’s affordable to them. In most areas of London, average monthly rents are actually higher than mortgage repayments, making buying a better option (as long as you can afford the deposit).

Everyone’s circumstances are different, but if you’re struggling to decide whether it’s better to rent or buy in London, we hope this article will help inform your decision.

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