Vision of Rugeley
If you're looking to buy or sell a property in Rugeley you'll want an estate agent that not only knows the area well, but offers a first-class service to make the process as stress-free as possible.
Vision of Rugeley offers homes to buy or rent in Rugeley and the surrounding area, including Cannock, Hednesford, Haywood, Stafford and Burntwood.
Managing director Dawn Goodwin prides herself on a team of staff who are both approachable and friendly, with an in-depth knowledge of the local areas.
Having recently moved to new premises in Upper Brook Street, Vision of Rugeley now enjoys a newly refurbished three-story office space in the heart of the historic market town.
People who go to Vision to buy, sell or rent a property can benefit from competitive fees with no added VAT, competitive lettings rates and a flexible no sale, no fee agreement.
Prospective sellers in Rugeley can also take advantage of Vision's unique 'House Doctor' service, which provides essential tips and advice to help you sell your home.
Plus, Vision offers an in-house mortgage advice service with Carl Summers Financial Services who can be contacted via the Vision of Rugeley offices.
Search for homes to buy or rent in Rugeley online at www.visionestates-rugeley.co.uk or pop in to the office to speak to one of the team in person.
HELP TO BUY 2
Over the past few years many lenders have removed themselves from the market for borrowers with small (less than 10%) deposits. A few notable exceptions, such as Newcastle Building Society, remained offering mortgages for customers with just a 5% deposit and other lenders such as; Woolwich and Aldermore Bank offered special schemes where a family member would offer some form of collateral to allow a mortgage with just a 5% deposit.
Help To Buy 2 is the Governments new initiative to widen the market and provide more choice for customers with 5% deposits, it was scheduled for launch in January 2014 but as you will have heard in the news the Government have bought forward the launch date of Help To Buy 2 to this month.
However many people are still confused as to what it is and, more importantly, how it works for them.
Essentially the Government are insuring the part of the mortgage loan above 85% of the property’s value, removing a large part of the risk for lenders and allowing them to offer mortgages requiring just a 5% deposit from buyers.
From the borrowers point of view it will just appear as a 95% mortgages, the Help To Buy 2 scheme is between the Bank and the Government – so the mortgage remains very simple and straight forward from the customers’ point of view.
The criteria that you must meet for the scheme, as a borrower, are:
- You'll need a deposit of 5%.
- You can be purchasing a new build or an existing property.
- The maximum home purchase valuation is £600,000.
In addition it would be most likely that the Banks taking part will require you to be purchasing a property that will be used as your main residence (not re-mortgaging, buy-to-let, or a second/holiday home). This may change as the scheme roles out with more lenders.
At this time the only Banks that have said they will be lending on this scheme are those co-owned by the Treasury; i.e. Lloyds Banking Group and RBS Group, Virgin Money have also announced they will be lending via the scheme very soon and other lenders; such as HSBC and Aldermore Bank, have also made commitments to lend later this year.
Initial indications are that mortgage rates will be around the 5% mark for a 2 year fixed rate, but so far no news has been released as regards the fees that these mortgages will charge.
It is important to point out that the criteria and requirements in regards to affordability and credit score will remain very tight – the scheme only allows a reduction in the deposit required, it no way lessens the lenders need to ensure the mortgage is lent responsibly.
With so much changing in the mortgage market so quickly and other, less well publicised lenders and schemes available, it has never been more important to gain good quality, professional advice.
Your home may be repossessed if you do not keep up repayments on your mortgage.
A fee of £195 is payable for arranging a mortgage.
Carl Summers Financial Services is an appointment representative of Openwork Limited, which is authorised and regulated by the Financial Conduct Authority.