A report by LSL Property Services plc^ claims that rents are firmly on the rise all across the country, putting extra pressure on renters like you. The average rent in England and Wales is currently £736 per month and the total annual return on a rental property rose to 5.9% in April. This rise means average rents have returned to levels not seen since November last year and they are 3.9% higher typically than a year ago.
These findings support a recent study by Zoopla.co.uk++ that states buying really could be the cheapest option. According to the property website, the average rent is 14% more than you would pay on an interest-only mortgage. If you live in a typical two bedroom property, then you could save £987 a year.
Mortgage approvals are on the increase.
According to the Bank of England+++, mortgage approvals in April 2013 were at their highest figures for three months. More people are managing to buy their first home since the Bank of England launched its Funding for Lending Scheme, in the summer of 2012. This scheme allows banks and building societies to increase their lending.
More Help to Buy
Thanks to a great range of low deposit schemes, including Government-backed schemes like Help to Buy, we could help ease the cost of your move. Now you could get you moving with just a 5% deposit. Or if family members are helping you out, Parent Power** could reward them with returns of up to 5% per annum on their investment for five years.
Alternatively, with Deposit Boost** we could fund up to a further 5% when you put down a minimum 10% deposit. That could be a David Wilson contribution worth up to £7,500 on a £150,000 home.
Remember, there’s no shared ownership in our schemes – you own 100% of your home.
The best opportunity in years to buy, now really is the perfect time to make your move to a dream new home.
Your new home, just the way you want it.
Every home we build is designed around you and free-flowing space is used efficiently. Our kitchens are designed to suit modern lifestyles, while living rooms offer the space to relax and entertain. Many of our master bedrooms offer a contemporary en-suite bathroom and have fitted wardrobes available for extra space.
Of course, when you buy new, you’ll have a home that’s yours from the start. Reserve early on in the process and you could personalise your new home with our stylish ‘Expressions’ range. Available as upgrades, you can take your pick from our wide selection of fixtures & fittings, carpets and furnishings.
And for extra reassurance, your new home is also protected by our free and exclusive* 5 year fixtures and fittings warranty^, on top of the standard NHBC 10 year warranty. So you shouldn’t have any unexpected bills should something covered go wrong.
† ‘Rents rise once again in April but pace of increase slows’, LSL Property Services plc, 17th May 2013. †† AOL Money UK,13th March 2013. ††† ‘Mortgage approvals edge higher’, The Telegraph, 31st May 2013. *“Exclusive” refers to the Barratt Developments Plc Group brands. ^Our 5 year warranty is available on virtually all of our developments and properties. Please speak to one of our Sales Advisers for further details. The warranty extends the purchaser’s 2 year NHBC non-structural Buildmark Policy to 5 years. Terms and conditions apply. See website for full details of what is included and excluded under this Warranty. Your statutory rights are unaffected. Images typical of Ward homes. **Offers available on selected plots only. Deposit Boost offer is to contribute up to a maximum of 5% deposit payable at the time of completion.