First-Time Buyers Archives - Fife Properties
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Tag: First-Time Buyers

FIFE PROPERTY MARKET UPDATE – 24th – 30th Dec 2023 (Watch/Listen)

 

 

PODCAST: https://podcasters.spotify.com/pod/show/fife-properties/episodes/FIFE-PROPERTY-MARKET-UPDATE–24th–30th-Dec-2023-e2ds2mb

 

Weekly round up on what’s driving the Fife Property market including a look at recent listings, sales and coming soon:

Article, Podcast and TV Shows written and produced this week are:

 

 

FP TV (EP 175) Seven New Year’s Resolutions Homeowners in Fife Can Stick To

It’s that time of the year after the most wonderful time of the year. And with 2024 within touching distance, it’s time for those who enjoy making (and usually breaking) New Year resolutions to get busy with their wish lists. Join Jim Parker and Andrea Stanford discussed this topic.

(Watch/Read/Listen) https://www.fifeproperties.co.uk/blog/fp-tv-ep-175-seven-new-years-resolutions-homeowners-in-fife-can-stick-to/

 

 

 

How the 6.3% saleability drop in the Fife Property Market might impact your 2024 home moving plans

Discover the pivotal shifts in the Fife property market with our in-depth analysis of the recent 6.3% drop in saleability. Understand the key factors driving this change, from economic influences to evolving buyer preferences, and learn strategic tips for maximising your Fife home’s appeal in 2024. Don’t let market trends catch you off-guard.

Jim Parker and Richard Cook discuss this topic and share their expertise to help you navigate your Fife home selling journey with confidence.

(Watch/Read/Listen) https://www.fifeproperties.co.uk/blog/how-the-6-3-saleability-drop-in-the-fife-property-market-might-impact-your-2024-home-moving-plans/

 

 

 

Zoopla UK House Price Index – DECEMBER 2023

 Executive summary

  • Annual house price inflation is -1.1%, down from +7.2% a year ago
  • Market sentiment improving with new sales agreed +17% year-on-year
  • House price falls starting to moderate as sales improve
  • Mortgage regulations a key reason for only modest price falls in 2023, along with strong labour market and rapid earnings growth
  • First-time buyers are largest group of would-be movers in next 2 years (40%)   followed by upsizers (34%)
  • Almost half of buyers living in southern England looking to move >10 miles in   search of better value for money
  • House prices to fall 2% over 2024 with 1m sales

(Watch/Listen) https://www.fifeproperties.co.uk/blog/zoopla-uk-house-price-index-december-2023/

 

 

EP 104: The Wealth Creation Show: The Pursuit of Excellence

The pursuit of excellence is a relentless journey towards achieving the highest standards in every aspect of life. It is a mindset that drives individuals to push their limits, embrace challenges, and continuously strive for improvement.

Jim is known for his unwavering commitment to excellence, embodies this philosophy in his work and life.

So, do you want to learn about how to embrace these changes and improve your chances of success?

Luckily, you don’t need to head back to school to understand this as Lettings Director, Richard Cook and one of the UK’s most successful property investors, Jim Parker are on hand to discuss.

(Watch/Listen) https://www.fifeproperties.co.uk/blog/the-wealth-creation-show-the-pursuit-of-excellence/

If you’ve missed the previous shows you can catch up on our channel: https://www.youtube.com/@WealthCreationShow

If you are a private client of ours, including the ongoing support you can also receive one to one mentoring on portfolio building. Please contact us to richard.cook@fifeproperties.co.uk

This is all about accelerating your wealth in 2023.

*We must point out that we are not financial advisors, and this is only our opinion of what we would do. Investments can go down as well as up so if you do want professional advice from a qualified advisor, please contact us direct and we will put you in touch with someone.

Zoopla UK House Price Index – DECEMBER 2023 (Watch/Listen)

 

 

PODCAST: https://podcasters.spotify.com/pod/show/fife-properties/episodes/Zoopla-UK-House-Price-Index–DECEMBER-2023-e2dm2dr

 

Executive summary

  • Annual house price inflation is -1.1%, down from +7.2% a year ago

 

  • Market sentiment improving with new sales agreed +17% year-on-year

 

  • House price falls starting to moderate as sales improve

 

  • Mortgage regulations a key reason for only modest price falls in 2023, along

with strong labour market and rapid earnings growth

 

  • First-time buyers are largest group of would-be movers in next 2 years (40%)

followed by upsizers (34%)

 

  • Almost half of buyers living in southern England looking to move >10 miles in

search of better value for money

 

  • House prices to fall 2% over 2024 with 1m sales

 

UNLOCKING HOMEOWNERSHIP FIRST-TIME BUYER DREAMS IN FIFE: Navigating the 6 ways Parents can support their family to buy a home (Read 2 min)

 

 

Embarking on the journey of homeownership is often seen as a rite of passage, but in Fife, like many other places, young buyers may find it challenging without some assistance.

 

Enter the Bank of Mum & Dad, a pivotal driver in Fife’s property market.

 

The term ‘Bank of Mum and Dad’ encapsulates the essence of parents contributing financially to their offspring’s pursuit of property ownership.

 

This concept has seen a surge in Fife and beyond, as the “Bank of Mum and Dad” (BoMaD) continues to play a significant role in assisting younger (and sometimes middle aged) individuals, particularly in the property market.

 

In 2023, the average BoMaD gift or loan exceeded £25,000, with over half of under-35s who recently purchased a home receiving financial help from their families. The total value of BoMaD gifts amounted to £8.1 billion in 2022, facilitating 318,400 house purchases​ according to Legal & General.

 

Yet not every parent in Fife can afford to generously gift a deposit. Here, we explore varied avenues parents can explore to extend a helping hand in their child’s homeownership quest in Fife.

 

  1. Gifting a Deposit: An outright gift can bolster a child’s deposit, enhancing their mortgage options. Formal declarations ensure compliance with anti-money laundering norms and clarify ownership stakes. Yet there are Inheritance Tax Implications. While no tax is levied on the gift initially, it could attract inheritance tax if the donor passes away within seven years of gifting, with tax rates tapering over time.

 

  1. Parental Loans: For parents unable to gift, extending a loan is a viable alternative. Formal loan agreements can specify terms, interest rates, and contingencies.

 

  1. Equity as Security: Parents can leverage their property’s equity as collateral for their child’s mortgage, although this comes with its own risks.

 

  1. Family Offset Mortgages: Utilising savings to offset mortgage costs, this arrangement can be beneficial yet complex.

 

  1. Guarantor Role: Parents can vouch for mortgage payments, stepping in if the child falters.

 

  1. Joint Purchase: Acquiring property as co-owners combines resources but may incur additional taxes.

 

 

Fife’s property landscape is rich and diverse, making it an ideal locale for first-time buyers.

 

For Fife homeowners pondering how to assist their children in this journey, rest assured that guidance is just a call away. Feel free to reach out to us with any queries you might have.

 

FIFE PROPERTY MARKET UPDATE – 28TH MAY – 3RD JUNE 2023

 

 

PODCAST: https://podcasters.spotify.com/pod/show/fife-properties/episodes/FIFE-PROPERTY-MARKET-UPDATE–28TH-MAY–3RD-JUNE-2023-e256tdb

 

Weekly round up on what’s driving the Fife Property market including a look at recent listings, sales and coming soon:

Article, Podcast and TV Shows written and produced this week are:

 

FP TV (EP 145) SUMMER VIEWINGS: Stand Out from The Crowd in The Best Season for Selling in Fife

 

Summer is upon us, and with it comes the best time of the year to sell your home (and to be an estate agent!). Blue skies, warm temperatures and nature in bloom make photos look brilliant, and homes look their best, while the lighter nights fuel faster decisions with fewer viewings in the dark.

Continue reading FIFE PROPERTY MARKET UPDATE – 28TH MAY – 3RD JUNE 2023

FIFE PROPERTY MARKET UPDATE – 21ST – 27TH MAY 2023 (watch/Read/Listen)

 

PODCAST: https://podcasters.spotify.com/pod/show/fife-properties/episodes/FIFE-PROPERTY-MARKET-UPDATE–21ST–27TH-MAY-2023-e24qehm

 

FIFE PROPERTY MARKET UPDATE – 21ST – 27TH MAY 2023

 

Weekly round up on what’s driving the Fife Property market including a look at recent listings, sales and coming soon:

Article, Podcast and TV Shows written and produced this week are:

 

FP TV EP 144 NEXT-GEN LANDLORDS: Discover the tactics that make buy-to-let still worth it in 2023

“Is buy-to-let still worth it?” Hardly a day goes by when someone doesn’t ask us Continue reading FIFE PROPERTY MARKET UPDATE – 21ST – 27TH MAY 2023 (watch/Read/Listen)

FIFE’S PROPERTY MARKET ENIGMA: Cracking the Code of Fife’s £190/sq. ft Puzzle for First-Time Buyers (Watch/Read/Listen)

 

PODCAST: https://podcasters.spotify.com/pod/show/fife-properties/episodes/Fifes-Property-Market-Enigma-Cracking-the-Code-of-Fifes-190sq–ft-Puzzle-for-First-Time-Buyers-e24ke3t

 

 

FIFE’S PROPERTY MARKET ENIGMA: Cracking the Code of Fife’s £190/sq. ft Puzzle for First-Time Buyers

“Dear Fife Properties

 

My fiancé and I have been actively searching for our first home in Fife for the past month. Being first-time buyers, we are new to this process but have genuinely enjoyed attending viewings. Although we haven’t come across our dream Fife home yet, we are staying practical and have identified three potential properties on which we are considering making an offer. While two of these properties require some attention, we believe they have great potential; we have also seen a brand-new home in Fife. Continue reading FIFE’S PROPERTY MARKET ENIGMA: Cracking the Code of Fife’s £190/sq. ft Puzzle for First-Time Buyers (Watch/Read/Listen)

FIFE PROPERTY MARKET UPDATE – 7TH – 13TH MAY 2023 (Watch/Listen)

 

 

PODCAST: https://podcasters.spotify.com/pod/show/fife-properties/episodes/FIFE-PROPERTY-MARKET-UPDATE–7TH–13TH-MAY-2023-e2425f4

 

Weekly round up on what’s driving the Fife Property market including a look at recent listings, sales and coming soon:

Article, Podcast and TV Shows written and produced this week are:

 

FP TV EP 142: TENANT TROUBLES: How to fix conflicts and disputes without losing your head.

What’s your biggest fear about being a landlord? For many, it’s the prospect of getting locked in a lengthy dispute with their tenants while trying to keep their cool.

It’s rare for any landlord or tenant to set out looking for conflict, but sometimes the unexpected causes disagreements and discord. And when a problem strikes, having the tools to deal with it quickly and effectively can truly preserve your sanity.

(Watch/read/listen) https://www.fifeproperties.co.uk/blog/fp-tv-ep-142-tenant-troubles-how-to-fix-conflicts-and-disputes-without-losing-your-head-watch-read-listen/

#TenantTroubles #FifeInvestors #InvestmentStrategies #BuyToLet

 

 

Skipton launches deposit-free mortgage aimed at renters

A deposit-free mortgage specifically aimed at people currently renting has been launched by a UK building society. While a handful of other no-deposit deals are available, they all need the financial backing of family or friends. Skipton Building Society says while its deal requires 12 months of on-time rental payments and a good credit history, it does not need a guarantor. However, at 5.49% the interest rate is more expensive than the average five-year fix of 5%.

 

(Watch/Listen) https://youtube.com/live/lwa1FjsTkrA

 

 

 

Watch out for the Wealth Creation Show on Mondays @ 12.30pm live on these channels:

EP 71 THE WEALTH CREATION SHOW: 8 Steps to Smart Retirement Planning

It’s never too early to start planning for retirement. That’s because it tends to hit us suddenly that there’s plenty to think about – and a lot to actually do.

But if you approach it logically and methodically, it’s actually not that hard to plan and then act.

Are you thinking about retirement planning and the best ways to save and invest for retirement?

Luckily, you don’t need to head back to school to understand this as Richard Cook and one of the UK’s most successful property investors, Jim Parker is on hand to take you through their eight key steps you can take for smart retirement planning and investing.

 

(Watch/listen) https://www.fifeproperties.co.uk/blog/the-wealth-creation-show-8-steps-to-smart-retirement-planning/

 

If you’ve missed the previous shows you can catch up on our play list: https://www.youtube.com/playlist?list=PLu-dtDBNhbLJvH_47QHVWEQSB0w2_KGj9

 

If you are a private client of ours, including the ongoing support you will also receive an invite for the last Thursday of every month to a private zoom session which will be a deep dive into more detail on portfolio building. If you haven’t received your invite, please contact us to richard.cook@fifeproperties.co.uk

 

This is all about accelerating your wealth in 2023.

 

*We must point out that we are not financial advisors, and this is only our opinion of what we would do. Investments can go down as well as up so if you do want professional advice from a qualified advisor, please contact us direct and we will put you in touch with someone.

 

FIFE PROPERTY MARKET UPDATE – 30TH APRIL – 6TH MAY 2023 (Watch/Listen)

 

 

PODCAST: https://podcasters.spotify.com/pod/show/fife-properties/episodes/FIFE-PROPERTY-MARKET-UPDATE–30TH-APRIL–6TH-MAY-2023-e23l3i9 

 

Weekly round up on what’s driving the Fife Property market including a look at recent listings, sales and coming soon:

Article, Podcast and TV Shows written and produced this week are:

 

FP TV (EP 141) BIG BUYER TURN-OFFS: Five major viewing mistakes and how to avoid them

 

You’ve picked your estate agent, you’re chuffed with your photos and description, and your home is priced to precision. Now all that’s left is your viewings – what can go wrong?

 

Well, quite a lot! Join Jim Parker and guests as they provide guidance on how to avoid making these mistakes.

 

(Watch/Read/Listen) https://www.fifeproperties.co.uk/blog/big-buyer-turn-offs-five-major-viewing-mistakes-and-how-to-avoid-them/

 

 

Fife First-time Buyers Keeping our Local Property Market Afloat

The Rise of Fife’s Property Market Heroes: First-Time Buyers Making Their Move.

Amidst a backdrop of rising rents and limited rental options, Fife’s determined first-time buyers are transforming the local property landscape. Delve into their strategies, discover how they overcome financial hurdles, and learn how they secure their dream homes in the face of adversity. Don’t miss out on the inside scoop that reveals why Fife’s property market has found its champions in these resilient individuals.

(Watch/Read/Listen) https://www.fifeproperties.co.uk/blog/fife-first-time-buyers-keeping-our-local-property-market-afloat/

 

 

Zoopla UK House Price Index – May 2023

 Executive summary

  • Annual house price growth slows but the worst of the month-on-month price falls are now behind us
  • Demand continues to recover as the number of new sales grows
  • First-time buyers (FTBs) were the largest buyer group in 2022 and look set to be a strong source of new sales again in 2023
  • 3-bed homes remain the most in-demand property for FTBs (40%) but there is a clear shift in FTB demand towards 2-bed flats
  • Income to buy a 3-bed FTB home has increased by £7,350 since 2020 but this varies by geography
  • The housing market is more balanced than for some years and sales could exceed 1m over 2023 if current trends continue.

 

(Watch/Listen) https://www.fifeproperties.co.uk/blog/zoopla-uk-house-price-index-may-2023/

 

 

 

 

 

Watch out for the Wealth Creation Show on Mondays @ 12.30pm live on these channels:

EP 70 THE WEALTH CREATION SHOW: 10 Money Savvy Strategies

Eliminating debt is easy to talk about but hard to do, at least not until you eliminate all of your “toxic debt”, which is considered to be pretty much everything but your mortgage.

You will find it difficult to invest and build wealth when your primary wealth-building tool — your income — is tied up in monthly finance charges.

These 10 steps will show you how to save for emergencies, pay off all your debt for good, and build wealth. It’s not a fairy tale. It works every single time!

Are you ready to take control of your money?

Luckily, you don’t need to head back to school to understand this as Richard Cook and one of the UK’s most successful property investors, Jim Parker is on hand to discuss the 10 steps to being money savvy and help you build wealth by eliminating that “toxic debt”.

 

(Watch/listen) https://www.fifeproperties.co.uk/blog/the-wealth-creation-show-10-money-savvy-strategies/

 

If you’ve missed the previous shows you can catch up on our play list: https://www.youtube.com/playlist?list=PLu-dtDBNhbLJvH_47QHVWEQSB0w2_KGj9

 

If you are a private client of ours, including the ongoing support you will also receive an invite for the last Thursday of every month to a private zoom session which will be a deep dive into more detail on portfolio building. If you haven’t received your invite, please contact us to richard.cook@fifeproperties.co.uk

 

This is all about accelerating your wealth in 2023.

 

*We must point out that we are not financial advisors, and this is only our opinion of what we would do. Investments can go down as well as up so if you do want professional advice from a qualified advisor, please contact us direct and we will put you in touch with someone.

 

Fife First-time Buyers Keeping our Local Property Market Afloat (Watch/Read/Listen)

 

 

PODCAST: https://podcasters.spotify.com/pod/show/fife-properties/episodes/Fife-First-time-Buyers-Keeping-our-Local-Property-Market-Afloat-e23e5o8

 

The Fife housing market is relativity buoyant, thanks to an unexpected group of people – Fife first-time buyers.

 

Many Fife tenants are annoyed with competing for Fife rental properties at high rents. Therefore, over the last 12 months, many renters have been stretching their finances to get on the Fife housing ladder, despite sky-high mortgage rates.

 

Using data from the Office of National Statistics, Land Registry and the Bank of England…

  Continue reading Fife First-time Buyers Keeping our Local Property Market Afloat (Watch/Read/Listen)

Preparing to sell your Fife Property in the New Year (Watch/Read/Listen)

 

PODCAST: https://anchor.fm/fife-properties/episodes/Preparing-to-sell-your-Fife-Property-in-the-New-Year-e1sdpm7

 

If you’re preparing to sell your Fife property in the New Year, then you might be feeling a little overwhelmed at the amount of work your Fife home requires before taking it to market. But don’t fret; we’re here with a list of top tips to help get you ready to show off your Fife home.

 

Continue reading Preparing to sell your Fife Property in the New Year (Watch/Read/Listen)

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