A helping hand
for home buyers
FIRST time buyers in
Liverpool are being helped to take their first steps onto the
property ladder, thanks to a £3 million city council scheme.
The scheme will see the city council working with mortgage lenders
to boost the amount made available to house buyers. In the current
climate, most lenders are prepared to lend a maximum of 75 to 80% of
the value of the property, even if the applicant can afford a 95%
mortgage. This means applicants require a substantial initial
deposit, which is out of the reach of many first-time buyers.
Liverpool City Council will tackle this problem by underwriting
'top-ups' of up to 20% on the loans so that buyers can obtain a 95%
mortgage on similar terms to a 75% mortgage, but without the need to
provide the large deposit usually required.
It will mean that, for a £100,000 property, buyers would only have
to pay a deposit of £5,000, rather than £25,000.
The £3 million pot of cash from the city council will be placed in a
high interest account which can be used to cover any defaults in
payments. The indemnity would only be called upon if a loss is made
by the mortgage lender. Any interest made by the council would be
ploughed back into the scheme to help fund further mortgages.
Liverpool City Council Leader, Councillor Joe Anderson, said:-
"Itís vital, if we are to boost housing in Liverpool and
encourage people to live here, that home ownership is not restricted
to people with higher incomes. We want to do all we can to help
people overcome the difficult economic times and get onto the
We are determined to stimulate the housing market here and to do all
we can to support those who wish to buy a home. This scheme is an
important part of our plans for achieving that."
The scheme is part of the city councilís Housing Delivery Plan for
2012 to 2015, which will see a £130 million investment in housing
over the next 3 years, the delivery of an extra 2,000 new homes
across the city and a drive to bring empty properties back into use.
Potential buyers will have to meet the strict criteria set out by
the mortgage lender in order to qualify for the Local Authority
Mortgage Scheme. The city council indemnity; which will be in place
for a fixed 5 year period for each mortgage granted under the
scheme; will only be available for 1st time buyers. The scheme is also specifically targeting older houses in the city
and will not be available for new-build properties. The maximum loan
value will be £125,000, with the maximum indemnity provided by the
council being £27,000. The scheme will also not be available for
buy to let or right to buy purchases.
The city councilís Cabinet Member for Housing and Community Safety,
Councillor Ann OíByrne, said:- "This is a fantastic scheme,
which will provide a real boost to first-time buyers who are finding
it increasingly difficult to become home owners.
This approach will minimise the cost to the council while taking
advantage of the expertise of existing mortgage lenders. It is an
imaginative solution to overcoming the problems faced by first-time
buyers, and will assist many people to realise their dream of
becoming home owners."
The latest figures show the proportion of 1st time buyers under 30
who need assistance from family and friends has more than doubled
since 2005. Median house prices now stand at 7 times median
earnings, compared with 3 and a-half times in the mid 90's.
Ben Kavanagh injury
A press statement issued
via Widnes Vikings to the media on 20 February 2012 said that:-
"In relation to recent press speculation regarding the injury to Ben
Kavanagh, at the game against Salford on Sunday, 19 February 2012,
the Widnes Vikings Medical Department confirms that the injury to
Ben was an Achilles tendon rupture which occurred in a recognised
mechanism for that injury following rapid dorsi flexion and plantar
flexion of the ankle when pushing off to sprint. The club wishes to
state that this is an unfortunate injury, but has no direct link to
the performance of the pitch."
North West Air
Ambulance damaged by vandals in Lancaster
THE North West Air
Ambulance has 2 helicopters which are based at Blackpool Airport and
City Airport, Manchester are vital emergency transport tools. Sadly
one of the helicopter that delivers this life saving service
throughout all of the North West region, has a window smashed by
vandals in Lancaster. The helicopter was attending an incident at
Lune Rugby Club, but it developed a fault and was unable to leave
the scene after the aircraft had landed to treat a patient. on
Saturday, 18 February 2012. Sadly the crews where forced to leave it
there overnight. That night however the charity run service was in
for a shock after a security guard saw a number of youths running
from the craft and noticed a side window had been smashed. it is
said that the incident happened between 7am and 7:30am on the
Sunday. Lynda Brislin, chief executive of the charity, told
reporters that:- "We are shocked. The service is run by
volunteers and is a charity , so we re shocked even more4 by the
vandalism. The money raised via the kindness of the general public
allow us to operate over 5,500 square miles in the North West of
England and parts of North Wales. The service covers a residential
population of almost 8 million people and costs in excess of £4
million each year to keep this vital service operational and saving
lives and that is why we can ill afford any extra costs, especially
through mindless act of vandalism. But our major worry is that the
air ambulance was not in operation for a day. Although thankfully,
we were able to rely on our other helicopter; the consequences could
have been much greater than just a broken window. It could easily
have cost lives! I would urge anyone who has any information about
this to get in touch with the Police via calling Crimestoppers on:-
0800 555 111 and pass on any information about this crime
TV Production looking for a
business in Southport and Merseyside
THE Dragonfly Film and
Television Productions company are currently looking for a business
in Southport and Mersey to take part in a major new series.
The Productions company is well
known and it's acclaimed documentaries have taken many awards.
"We are now trying to produce an exciting new series called The
Business. For this series we are looking to find colourful bosses
who makes their own rules and don't care what other people think.
Bosses who are passionate about their business, and feel
tremendously loyal towards the (sometimes long suffering) staff they
employ. Companies where the staff have become an extension of their
family; this is more important than ever in these financially
troubling time as we are all working longer and harder. We want
businesses that are full of laughter, honesty, and graft. This is a
fantastic opportunity for any small/medium business in the local
area to be part of a big new project and I hope you can help us find
them." said Lucy.
If you would like to find out more
please contact Lucy Wilcox on:- 0207 033 2285.