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First Time Buyer
A first-time buyer (FTB) is a term used in the British, Irish, Canada property markets, and in other countries, for a potential house buyer who has not previously owned a property. A first-time buyer is usually desirable to a seller as they do not have to sell a property, and as such will not involve a housing chain. There are many factors a first-time buyer may need to consider before purchasing their first property; how much initial cash they will need for stamp duty and any solicitors fees, and if they need to arrange a mortgage how much are they able to afford. In many countries such as United Kingdom, Canada and Australia home ownership is seen as a natural step in the life cycle and the natural form of property tenure. Canada and Australia have some of the most ownership rate in word (all above 65%) home ownership. Ireland has one of the highest proportions of owner-occupiers in the EU at around 80%. In the UK in the 1980s almost half of all mortgages were taken out ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property
Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, redefine, rent, mortgage, pawn, sell, exchange, transfer, give away or destroy it, or to exclude others from doing these things, as well as to perhaps abandon it; whereas regardless of the nature of the property, the owner thereof has the right to properly use it under the granted property rights. In economics and political economy, there are three broad forms of property: private property, public property, and collective property (also called cooperative property). Property that jointly belongs to more than one party may be possessed or controlled thereby in very similar or very distinct ways, whether simply or complexly, whether equally or unequally. However, there is an expectation that each party's will (rather discretion) with rega ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Ladder
The term property ladder, widely used in the United Kingdom, describes the relative differences in constant terms from cheaper to more expensive housing. According to this metaphor, an individual or a family can progress by stages from more affordable houses (for younger first-time buyers who are typically at the bottom of the property ladder) to expensive houses are at the top. "Getting on to the property ladder" is the process of buying one's first house and holding a place on the property market. The Oxford English Dictionary traces use of the phrase "property ladder" back to 1941 in the journal ''Eugenics''. See also *Real estate bubble *British property bubble *United States housing bubble The 2000s United States housing bubble was a real-estate bubble affecting over half of the U.S. states. It was the impetus for the subprime mortgage crisis. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reac ... * Priced Out References {{ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing In The Republic Of Ireland
Housing, or more generally, living spaces, refers to the construction and assigned usage of houses or buildings individually or collectively, for the purpose of shelter. Housing ensures that members of society have a place to live, whether it is a home or some other kind of dwelling, lodging or shelter. Many governments have one or more housing authorities, sometimes also called a housing ministry or housing department. Housing in many different areas consists of public, social and private housing. In the United States, it was not until the 19th and 20th century that there was a lot more government involvement in housing. It was mainly aimed at helping those who were poor in the community. Public housing provides help and assistance to those who are poor and mainly low-income earners. A study report shows that there are many individuals living in public housing. There are over 1.2 million families or households. These types of housing were built mainly to provide people, m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing In The United Kingdom
Housing in the United Kingdom represents the largest non-financial asset class in the UK; its overall net value passed the £5 trillion mark in 2014. About 30% of homes are owned outright by their occupants, and a further 40% are owner-occupied on a mortgage. About 18% are social housing of some kind, and the remaining 12% are privately rented. The UK ranks in the top half of European countries with regard to rooms per person, amenities, and quality of housing. However, the cost of housing as a proportion of income is higher than average among said countries, and the increasing cost of housing in the UK may constitute a housing crisis for some, especially for those in low income brackets or in high-cost areas such as London. Housing is the jurisdiction of the Minister of State for Housing. History Victorian era Rapid population growth took place in the nineteenth century, particularly in cities. The new homes were arranged and funded via building societies that dealt dire ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canada Mortgage And Housing Corporation
Canada Mortgage and Housing Corporation (CMHC) (french: Société canadienne d'hypothèques et de logement) (SCHL) is Canada's national housing agency, and state-owned mortgage insurer. It was originally established after World War II, to help returning war veterans find housing, and is a wholly-owned Crown Corporation of the Government of Canada. Since then, it has seen its mandate expand to the mandate of improving access to housing, including owned and rental. About The CMHC operates with a primary mandate of providing mortgage liquidity, assist in establishing affordable housing development, and provide arms-length advice to the Government of Canada, and housing industry. Despite the claim of independence, the Crown Corp acts as Canada's national housing agency. As such, it administers Federal housing programs such as the First-time home buyer loan, acts as a mortgage insurer (primarily for high-leverage loans), and provides housing research. The agency's governance is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Help To Buy
Help to Buy is the name of a government programme in the United Kingdom that aims to help first time buyers, and those looking to move home, purchase residential property. It was announced in Chancellor of the Exchequer George Osborne's 2013 budget speech, and was described as "the biggest government intervention in the housing market since the Right to Buy scheme" of the 1980s. It is an extension of a previous programme called FirstBuy that was aimed solely at first-time buyers. Help to Buy has itself been expanded and extended. Schemes Subject to restrictions, which in some cases vary by country, the types of Help to Buy scheme are: *Help to Buy: Equity Loans: Buyers contribute a 5% deposit, the government provides an equity loan for up to 20% of the property value (40% within London), and buyers must provide the remaining funds themselves, typically from a mortgage. Available only for new-build under a certain amount (e.g. less than £600,000 in England, £300,000 in Wales); ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Time Home Buyer Grant
A first-time home buyer grant (or first home owners grant) is a grant specifically for/targeted at those buying their first home — perhaps a starter home. Like other grants, the first-time buyer does not hold an obligation to repay the grant. In this respect, it differs from a loan and does not incur debt or interest. Grants can be given out by foundations and governments. Grants to individuals can be a cash subsidy (Lee and Reed, 2014 [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Adviser
A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses. Traditionally, banks and other lending institutions have sold their own products. As markets for mortgages have become more competitive, however, the role of the mortgage broker has become more popular. In many developed mortgage markets today, (especially in the United States, Canada, the United Kingdom, Australia, New Zealand, and Spain), mortgage brokers are the largest sellers of mortgage products for lenders. Mortgage brokers exist to find a bank or a direct lender that will be willing to make a specific loan an individual is seeking. Mortgage brokers in Canada are paid by the lender and do not charge fees for good credit applications. In the US, many mortgage brokers are regulated by their state and by the CFPB to assure compliance with banking and finance laws in the jurisdiction of the consumer. The extent of the regulation depends on the jurisdiction. Duties o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of The United Kingdom
The Parliament of the United Kingdom is the supreme legislative body of the United Kingdom, the Crown Dependencies and the British Overseas Territories. It meets at the Palace of Westminster, London. It alone possesses legislative supremacy and thereby ultimate power over all other political bodies in the UK and the overseas territories. Parliament is bicameral but has three parts, consisting of the sovereign ( King-in-Parliament), the House of Lords, and the House of Commons (the primary chamber). In theory, power is officially vested in the King-in-Parliament. However, the Crown normally acts on the advice of the prime minister, and the powers of the House of Lords are limited to only delaying legislation; thus power is ''de facto'' vested in the House of Commons. The House of Commons is an elected chamber with elections to 650 single-member constituencies held at least every five years under the first-past-the-post system. By constitutional convention, all governme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Homebuy
Equity sharing is another name for shared ownership or '' co-ownership''. It takes one property, more than one owner, and blends them to maximize profit and tax deductions. Typically, the parties find a home and buy it together as co-owners, but sometimes they join to co-own a property one of them already owns. At the end of an agreed term, they buy one another out or sell the property and split the equity. In England, equity sharing and shared ownership are not the same thing (see the United Kingdom and England sections below). Equity sharing in different countries United States Equity sharing became desirable in the United States when in 1981 Section 280A of the Internal Revenue Code allowed mixed tax use of a single property for the first time permitting the occupier to claim principal residence tax deductions and the investor to claim investment property tax deductions. Since shared ownership is conferred by the federal tax code, this ownership vehicle can be used in any s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yvette Cooper
Yvette Cooper (born 20 March 1969) is a British politician serving as Shadow Secretary of State for the Home Department, Shadow Home Secretary since 2021, and previously from 2011 to 2015. She served in Gordon Brown's Brown ministry, Cabinet as Chief Secretary to the Treasury from 2008 to 2009 and Secretary of State for Work and Pensions, Work and Pensions Secretary from 2009 to 2010. A member of the Labour Party (UK), Labour Party, she has been Member of Parliament (United Kingdom), Member of Parliament (MP) for Normanton, Pontefract and Castleford (UK Parliament constituency), Normanton, Pontefract and Castleford, previously Pontefract and Castleford (UK Parliament constituency), Pontefract and Castleford, since 1997 United Kingdom general election, 1997. One of Blair Babe, 101 female Labour MPs elected at the 1997 United Kingdom general election, 1997 general election, Cooper was a Parliamentary Under-Secretary of State at three departments under Prime Minister Tony Blair from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scottish National Party
The Scottish National Party (SNP; sco, Scots National Pairty, gd, Pàrtaidh Nàiseanta na h-Alba ) is a Scottish nationalist and social democratic political party in Scotland. The SNP supports and campaigns for Scottish independence from the United Kingdom and for membership of the European Union, with a platform based on civic nationalism. The SNP is the largest political party in Scotland, where it has the most seats in the Scottish Parliament and 45 out of the 59 Scottish seats in the House of Commons at Westminster, and it is the third-largest political party by membership in the United Kingdom, behind the Labour Party and the Conservative Party. The current Scottish National Party leader, Nicola Sturgeon, has served as First Minister of Scotland since 20 November 2014. Founded in 1934 with the amalgamation of the National Party of Scotland and the Scottish Party, the party has had continuous parliamentary representation in Westminster since Winnie Ewing won th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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