We will also liaise with the planning department, building control and the architects on your behalf, making the new build project as stress-free as possible for yourself and your family. If you choose LSM builders to undertake your self build project, you can rest assured that the development will be in safe hands. Testimonials!"Great set of lads, we have used lsm builders for several projects and will continue to do so. Property developers are often keen to sell quickly for many reasons (largely paying the bank back for their development loan) and as such will offer attractive incentives to potential buyers. A common incentive is a builder paid deposit, where the builder will contribute or pay the entire deposit for you.
When buying a furnished new build it is important to establish if the lender values the property with or without these furnishings.
It is not uncommon for a housing development to be behind deadline, as such it is important to consider if your new build mortgage offers you flexibility or a extended completion period. Shared equity deals are exactly that, a deal where the equity is shared between multiple parties. In more recent times, with the 'credit crunch' property prices began to tumble, with these inner city apartments loosing bay far the most.
Unfortunately, due to the finger burning process most of these lenders have gone through, they will want such detail for all new builds, not just inner city developments.
As with most situations, you are best speaking with a mortgage broker to ensure you are getting the most competitive mortgage available. The nationwide today has stepped forward with 2 new offers to help open up the market for first time buyers.


The offers are as follows; a A?500 discount off any reservation feea€™s or a A?250 discount off reservation feea€™s and no legala€™s to pay.
The offers are available on The Nationwidea€™s 3, 4 and 5 year fixed rate deals and also on its 3 year tracker deal. The move will be welcomed, however the true barrier to first time buyers at the moment is the excessive deposit amounts required by all major lending institutes, making a A?500 discount as practically useful as a A?5 reduction for most. The National Association of Estate Agents (NAEA) and the Association of Residential Letting Agents have formed a coalition named a€?1808 Coalitiona€? after the date Stamp Duty was introduced. The two groups and of course the coalition they form, believe the reinstallation of Stamp Duty at its normal levels will be detrimental to First Time Buyers and Buy to Let Investors.
Stamp duty, which is normally in place for transactions on residential property above A?125,000 in value has for some time sat at A?175,000 in a bid to re-light the fire under the housing market, however it is due to return to 125,000 on December 31st this year. Stamp duty is applied to the total sum paid in consideration for a property where that sum exceeds the threshold. Whilst we cannot agree that it its the most unpopular tax (recent surveys show 31% of respondents take the most displeasure in paying inheritance tax, compared to a mere 23% loathing Stamp Duty) however we support their call for an extension to the raised threshold as in the current market conditions, all stops should be pulled in efforts to draw in first time buyers, life blood, into the market. If you would like to speak to a mortgage advisor or simply find out what the best mortgage deals available are, why not request a call back below. For all new build projects we offer a worldwide project management package, giving you peace of mind so that your project works within your budget and timescale. If you are considering building your own home in Sheffield, then LSM Builders can help turn the dream into a reality. We can build your new home from start to finish, from the initial excavation and groundwork to internal finishing, painting & decorating.


Experienced, Skilled and professional Sheffield builders using both modern and traditional building techniques to build your home as quickly and cost effectively as possible. For first time buyers or those who are struggling to get a deposit together this can be extremely useful, however not all lenders will accept builders deposits and many will value the property less this deposit amount.
For example you may purchase a 75% share in a new flat, the builder or housing scheme will either provide an interest free loan to you and ask for settlement at a date in the future or upon sale or rent the remaining 25% to you for a monthly rental figure.
During the early 2000's large numbers of city centre and urban 2 bedroom apartments were established, many of these bought off plan. Those that will require larger than normal deposits, furthermore they will often require a statement of any incentives the developer has offered, such as furnishings to push the deal. For example on a property transaction of A?190,000, A?1,900 is due in stamp duty (1%), not as many believe 1% of the sum exceeding the threshold i.e. As well as our portfolio of recent work you can also view genuine and honest testimonials from many of our customers and find out why we are recommended Sheffield builders.
When these properties where completed upon they were often worth significantly less than the price paid.



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