Is investing in a home the best move right now? Experts in the mortgage and finance businesses aren't convinced at the moment, and their worries may be valid. Despite predictions that the housing market would keep rising, prices fell 0.3% in March. This has not completely erased the gains made in February, but it will worry many investors. Here we take a look at why this happened, and what it might mean for you.
Although it’s been around since the 1970s, it seems that shared ownership schemes are still poorly understood, particularly amongst the younger generation. When asked about the scheme, only 40% of 18-24 year olds were aware of it. A quarter of these didn’t know what shared ownership was, so that means only 1 in 3 young people even understands what shared ownership is and how it could help them.
In the governments most recent budget the chancellor announced plans for a new Lifetime ISA which will become available by April 2017. The lifetime ISA is not for everyone, there are some very clear caveats, only being able to be used to buy your first home or saving for retirement.
As the initial furore over Brexit dies down, things remain far from normal in the housing market. This might work in favour of the potential buyers, but not if they’re expecting sellers to accept very low offers.