Current Statistics ►

An estimated third of employees spend at least some of their week working from home with high speed broadband rising up the criteria list for new house buyers. Evidence suggests that broadband speeds could affect the price that buyers end up paying for their next move.

An analysis of average house prices and broadband download speeds by local authority reveals that buyers spend, on average, 17% more for properties in areas with superfast broadband compared to areas where average speeds are less than 25 Mbps.

Some of this will be related to where broadband providers have historically focused their investment, ie, in more affluent areas, but with the major providers increasing their coverage, this effect will become more diluted. Indeed, the Government has committed to provide superfast broadband (at least 24Mbps) to at least 95% of UK premises.

There are a myriad of factors that affect local property prices but the influence of broadband speeds should not be underestimated with its importance to buyers set to continue to increase.

January 2018

December 2017

 

 

We would like to take this opportunity to thank you

for your continued support which has made 2017

such a successful year

and we look forward to working with you

in 2018 and beyond. 

 

 

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This year we have been supporting Christmas Jumper Day in aid of Save the Children UK. Every one has been getting into the swing of things with some festive cheer at both our offices in Falmouth and Penryn, raising a total of £64.70. Not bad for a small team - Well done everyone!

September 2017

After months of hard work, our new website finally went live over the weekend and is looking fantastic! Why not have a good look around and see what amazing new features and information are included. 

www.heather-lay.co.uk


Natalie took part in the Cancer Research Race for Life Pretty Muddy on Sunday 3rd September. It was "pretty muddy" due to the Cornish Autumn weather, but a brilliant time was had by all and Natalie raised a fantastic total of £183.00 for Cancer Research!

August 2017

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Our new banner has arrived today ready for tonight, and it looks great!! We are proudly sponsoring the Pink Wig event which is part of Falmouth Week and raises funds for vital research projects, the best care for breast cancer patients in Cornwall and a safer future for the next generation.​

Securing a Deposit

Securing a Deposit

Selling GPEA News 14th December 2015

Securing a deposit

Despite a climate of record low interest rates and ever improved deals for borrowers over the last 12 months, First Time Buyers still face a range of challenges when it comes to getting onto the property ladder, the biggest of which is building up a large enough deposit.

 

Figures from the Office of National Statistics, published in The Times this month, showed that the average price of a First Time home is now around £215,000, so even those aiming for the minimum 5% deposit will need a significant level of savings.

 

The launch of the new Help to Buy ISA on 1st December should provide a useful option for those looking to save. It allows for an initial deposit of £1,000 plus £200 per month thereafter. The Government then provides a 25% uplift on the money saved, to a maximum of £3,000.  While hitting the required amount for a deposit may still seem out of reach, this type of account provides a welcome boost for potential buyers.

 

For many First Time Buyers however, using their own savings will not be enough, and it is for this reason that cash gifts are still the most common way that the ‘Bank of Mum and Dad’ can help. Most lenders are happy with this as a source of deposit, as long as it can be confirmed in writing by the parent. Bumping up the deposit from 5% to 10% also opens up a much wider range of mortgage deals with lower interest rates.

 

Further options exist for parents who want to help without physically parting with their savings. Some lenders allow money to be held in a separate savings account, allowing parents to keep their savings in their name, while still providing the additional security needed and often securing a better rate.

 

While getting a deposit together can feel like an uphill struggle at times there are options available, and with some financial discipline and planning, stepping on to the property ladder for the first time could become a reality.

 

Guild Mortgage Service, Provided by London & Country Mortgages

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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