Spring Mortgage Magazine 2021

Welcome to our new Spring 2021 quarterly issue of The Mortgage & Property Magazine from Advanta Mortgages

In his Budget announcement on 3 March, Chancellor Rishi Sunak confirmed the temporary stamp duty holiday has been extended to the end of June 2021, enabling more buyers to take advantage of significant savings. This was welcome news for those buying a property who had been worried about having to pay up to £15k extra on their purchase if they weren’t able to complete in time for the previous deadline. Find out more on page 20. Don’t miss the extended deadline if you are looking to buy.

The coronavirus (COVID-19) pandemic led to the virtual disappearance of mortgages that only required a 5% deposit. But in another Budget announcement the Chancellor unveiled a new initiative, the government-backed mortgage guarantee scheme, which is open to first-time buyers and home movers across the UK and is aimed at encouraging banks and building societies to offer 95% loan-to-value (LTV) mortgages again. Turn to page 22.

The government’s new Help to Buy scheme, which supports people to get on the property ladder, has replaced the previous scheme and came into place from 1 April 2021. It will run until March 2023 and there are no plans for any further extensions. On page 18, if you’re a first-time buyer in England, we look at how you can apply.

Should you be considering a remortgage? On page 10 we explain five reasons when it pays to review your mortgage deal. In the current economic climate, many homeowners may be unsure about when is the right time to look for a new mortgage.

Is the time right now or should you remain with your current mortgage? It’s a very important decision that could impact your finances by thousands of pounds every year.

Urbanites of all ages are moving to a rural way of life. On page 64 we look at how the coronavirus (COVID-19) pandemic outbreak has triggered a reappraisal of urban living for some people. The lockdown restrictions have been difficult for many, especially in urban areas where access to outdoor space is limited. Many are now looking to escape crowded cities and big towns by moving to the country in search of a more peaceful and sustainable lifestyle.

A complete list of the articles featured inside this issue appears on page 03. Following the Budget announcements, whether you’re a first-time buyer, home mover or buy-to-let investor wondering how and when to make your next move, there are some really good reasons why now is the perfect time to purchase a property.

We hope you enjoy reading this issue of The Mortgage & Property Magazine. If you require any further information, please do not hesitate to contact us.