Optimistic News For First-Time Buyers As Banks Resume 90% LTV Mortgage Deals

Optimistic News For First-Time Buyers As Banks Resume 90% LTV Mortgage Deals

Optimistic News For First-Time Buyers As Banks Resume 90% LTV Mortgage Deals

First-time buyers can now purchase their first home with just 10% deposit.

13 July 2020 

After a long wait, banks are starting to offer 90% LTV mortgages again.

This means that first-time buyers can now purchase their first home with only 10% deposit.

There are several factors that must be taken into consideration, but still, these are excellent news.

If you fit into the banks criteria, your chances of getting a mortgage approved, are definitely much higher than one month ago.

If you’re planning on buying your first home and you were waiting for the banks to reintroduce 90% LTV mortgages, get in touch with us for free initial mortgage advice.

*Your home may be repossessed if you do not keep up with repayments on your mortgage.

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What Landlords Need To Know About The COVID-19 New Legislation

What Landlords Need To Know About The COVID-19 New Legislation

At Plotway we work with many landlords, so we thought that it would be a good idea to write about the new legislation implemented by the government to protect tenants that are having financial difficulties as a result of the COVID-19 outbreak.

A copy of the government guidance for landlords/tenants can be downloaded here.

Continue reading to learn about some key areas of consideration.

Tenants can’t pay rent?

The government guidance is clear that landlords should support their tenants during this difficult period of our lives. It advices communication between landlords and tenants at the earliest opportunity. Tenants should continue to pay their rent and comply with their responsibilities to the best of their ability. When this is not possible, landlords should come up with a plan that suits the tenants. An idea would be a temporary agreement for the tenants to pay lower rent or pay off arrears at a later date.

What financial help is available?

Landlords should be aware that tenants may be eligible to receive financial help and support. Local authorities have the necessary means to support tenants with financial difficulties. Mortgage lenders are offering a three-month mortgage payment holiday. We advise you to speak with us if you have any questions about financial support.

Tenants still not paying rent?

According to the Coronavirus Act, until 30 September 2020, the notice period needed to initiate possession proceedings will be extended in most cases to three months. The government strongly advises that landlords do not issue a notice seeking possession during this period. After the three month notice period, landlords would still need a court order if the tenants do not leave the house willingly.

Repair obligations changed?

Repair obligations have not changed. Tenants still have the right to a decent, warm and safe place to live. It is good for both tenants and landlords that properties are kept in good condition and free from hazards. If there are urgent repairs that require attention in a property, tenants should inform landlords and give access to local authorities, landlords and contractors to inspect and sort the urgent matters at the property.

Keeping everyone safe?

Please note that at Plotway, we are doing everything we can to keep our staff, tenants and contractors safe, so we use a commonsense approach to decide what jobs are urgent and necessary and what jobs can wait until we feel that it is safe to return to the normal conduct of business activities.

Also, are you following Plotway on Instagram?

COVID-19 Supporting NHS – £30 Cashback

COVID-19 Supporting NHS – £30 Cashback

Today we would like to let you know that Uinsure is supporting NHS workers by giving £30 cashback to those that buy home insurance from us.

That’s right, £30 cashback!

If there is a cancellation fee on the current home insurance, Uinsure will pay for it too.

(Terms & Conditions Apply)

To receive a quote, you just need to fill a very quick form here.

If you have any questions, please contact us.

If you know any NHS workers make sure to let them know about this offer.

Finally, I hope that both you and your family are keeping up and staying safe during this challenging period of our lives.