Monthly archive for April 2021

Everything You Need To Know About 95% Mortgages in Peterborough

Everything You Need To Know About 95% Mortgages in Peterborough

During the 2021 Budget it was announced that new 95% mortgages will be introduced. These have been created to support first time buyers with getter on the property ladder, even if they only have a 5% deposit for their home.

This new 95% mortgage scheme has been introduced by the government. It will enable mortgage lenders to offer loans of up to 95% of the value of the property. Boris Johnson has said this will help in changing Generation Rent to Generation Buy which is a big goal of his.

The 95% mortgages in Peterborough will be available from this month, April 2021, until 31st December 2021. The scheme is solely available to buyers of properties costing up to £600,000 which accounts for around 86% of homes for sale in Peterborough.

95% Mortgages in Peterborough Explained

A 95% mortgage covers 95% of the value of the property. This means, as the buyer, you are left to cover the remaining 5% in the form of a deposit. 95% mortgages are also referred to as 95% LTV Mortgages, also known as 95% loan-to-value mortgages.

Until this scheme was introduced, more mortgage lenders were offering up to 85% mortgages. These changes mean that buyers can now save up to a third of what they would have had to pay prior to the new government scheme.

Is A 95% Mortgage Right For Me?

If you a first-time buyer in Peterborough struggling to save a larger deposit, then this new scheme is a great solution for you. It’s a great way to get on the property ladder and purchase your first home, with a smaller deposit of 5%.

However, if you are able to afford a larger deposit for your new home, it may be best to do so. The larger deposit you have the more choice you will have when it comes to finding a mortgage provider. You will also have more chance of getting lower interest rates on your mortgage with a larger deposit.

It’s important to remember that the larger deposit you put down, the lower your mortgage repayments will be too.

Want To Make The Most Of 95% Mortgages in Peterborough?

If you are looking forward to finding a new home and making the most of the 95% mortgage scheme in Peterborough, call us now. We can put you through to our mortgage advisors while our estate agents find the perfect new home for you.

How To Make Moving Home With Children Easier

How To Make Moving Home With Children Easier

Moving home is one of the top three most stressful experiences in life. It’s a very stressful time for the whole family, including the children. Not only will your children find the experience stressful, but stressed children will make the experience even more stressful for the everyone.

In this blog post we have put together some top tips to make moving home with children easier. Here at Letters Group we can support you with this. In this build up to the move, for example, involve your child in the house hunting. We would happily show you around the home, then you can come back again with your child and our Peterborough estate agents can engage with your child to make it an exciting experience for them.

Make sure your child is part of the packing process, if they are old enough. Give them boxes to pack their toys and clothes in. This way they are seeing where their things are going which will help them feel more prepared.

Draw a picture of their room and ask them what colour walls or curtains they want. Ask them to draw where their furniture will go and all their favourite toys. This will help your child adjust to their new home and start to get excited about their brand-new room with all their things in it.

If you are moving out of an area or away from their school, then give them a chance to say goodbye to their friends and the local area. Maybe have a little party where they can say goodbye for the last time. Try to reassure your child that everything will be okay. They will need lots of love, support and reassurance in the run up to the big move.

Moving day and your child, really depends on their age. If you have a younger child, ask a friend or family member to look after them for the day. If you have an older child, then make them feel part of the big day. By giving them things to carry, boxes to unpack or set responsibilities on the day, they will feel part of moving day and the whole moving process.

It’s a great idea to have a box of your child’s special toys and belongings in a safe place. This means they can be quickly and easily found and unpacked by or for your child. Very quickly their new roomwill feel like home to them and it will make the adjustment a lot easier for them.

If you’re looking for your next family home in Peterborough, call our team. We will take the time to understand the area you want to live in and what you want from your new Peterborough family home.