ISSUE 100 BUYING AND SELLING PROPERTY IN WEST CENTRAL SCOTLAND th ISSUE 100Property For Sale FIRST TIME BUYERS TIPS FOR SELLING YOUR HOUSE Contents 5 WELCOME Our introduction to House magazine. 9 FIRST TIME BUYER SCHEME Everything we know so far about Scotland’s new first time buyer scheme. Nicola Sturgeon recently announced a new £150 million national pilot scheme to help first time buyers get on the property ladder in Scotland. 12 PROPERTY FOR SALE 12 Property available in West Central Scotland. 22 TIPS FOR SELLING YOUR HOUSE OR FLAT WHEN YOU HAVE KIDS Selling a property can be a stressful time trying to juggle work, keeping the house tidy and being available for viewings. Add kids into the mix and it can become pretty chaotic. Publisher Cochran Dickie Editor Curtis Chisholm Assistant Editor Iain Storrie Features Curtis Chisholm Art Director Don Jack Graphic Designer Stuart Robertson Creative Studio ideas.co.uk All enquiries to: [email protected] Curtis Chisholm & Iain Storrie www.cochrandickie.co.uk DIRECTORS House magazine is published by Cochran Dickie. Property for sale in Paisley All rights reserved. Reproduction in whole or in Paisley Office part without prior written permission from the 21 Moss Street, Paisley PA1 1BX publisher is strictly prohibited. Great care has been taken to ensure the accuracy of all content t: 0141 840 6555 f: 0141 848 9168 however the publisher accepts no liability for e: [email protected] loss or damage suffered through any errors or omissions that may occur. Cochran Dickie Property for sale in Bridge of Weir reserve the right to reproduce and use any Bridge of Weir Office COLIN STEWART material received from advertisers or 3 Neva Place, Bridge of Weir PA11 3PN contributors and will do so unless any t: 01505 613 807 f: 01505 615 682 conditions for it’s use have been clearly advised at the time of submission. Published and printed e: [email protected] T. 07807 146 230 in the UK by Cochran Dickie. PP 25 / 07 / 19 E. [email protected] WelcomeWELCOME TO THE LATEST EDITION OF ‘HOUSE’, COCHRAN DICKIE’S PROPERTY AND LIFESTYLE MAGAZINE THAT BRINGS TOGETHER HOUSE BUYERS, SELLERS AND THOSE PEOPLE DIRECTLY INVOLVED IN THE PROCESS. Welcome to the latest edition of HOUSE magazine Welcome to the summer edition of HOUSE now being semi retired and working for CDEA. So if you need a cat rescuing from up a tree to knowing the next Booker Prize magazine. And dower weather it has been! award, ask Colin when you see him!! Thanks fully it hasn’t dampened the spirits of our property buying population. Once again I think we have defied the At the time of writing I haven’t had my holiday but if you have market trend by selling on average a house a day throughout then enjoy the sunshine when it comes and if you haven’t I hope 2019 which for a two branch firm is quite remarkable. What to you have a lovely time. If you are looking to move in the Autumn do we put that down to? Well I would say great service, then please don’t hesitate to get in touch with one of our offices exposure, quality marketing material and a great team but it also and we can arrange a valuation for you. comes down to getting the values right. And I know those of you who read this section regularly will note that I have something to Enjoy you your summer and this month’s edition of HOUSE. say on this almost every month, but it is absolutely true. We have Curtis Chisholm demonstrated time and again that if you get the value wrong DIRECTOR (and therefore the asking price wrong to reflect this) then the buying public, who are no longer duped and are price savvy, will vote with their feet and either visit the property but not offer, or offer much less akin to what they think it’s worth or they may not visit at all. And no one wants that. The lack of supply and demand for property right now is such that if it is marketed correctly you will get the demand you wish and get a good sales value close to if not exceeding your expectations. But it’s not about who gives you the highest value. On a different note I would like to thank one of our viewing persons, Ms Karen Rigby for the time she worked with us. She was always very polite and accommodating but has left us to work for Marie Cure full time. In Karen’s place we have Mr Colin Anderson. For those of you whom haven’t had the pleasure of meeting Colin then on your next accompanied viewing you may come across him. He has had an interesting few years, retiring from the fire service to owning a book shop to COCHRAN DICKIE ESTATE AGENTS ESTAS SILVER AWARD WINNER Everything we know, so far about Scotland’s new first time buyer scheme Nicola Sturgeon recently announced a new £150 million national pilot scheme to help first time buyers get on the property ladder in Scotland. This scheme will provide loans to first time buyers to help them purchase a property in Scotland. While not all the details of the scheme have been finalised and announced, Who is eligible and how will they decide how this article covers everything we know so far about Scotland’s new first time much money to lend? buyer scheme. At the moment, there are few details about who will be eligible for the If the news of this scheme has motivated you to buy your first home, make scheme other than it being limited to first time home buyers. No age sure to enter our first time buyers’ prize draw to be in with a chance of restriction has been announced for the scheme. winning £3,000 towards your first home deposit. Click the button below to In terms of how much will be loaned to first time buyers, there have been no find out more and enter. specific details about how this will be determined and whether it will be means-tested or related to the value of the property. How much money are first time buyers entitled to from the scheme? I’m a first time buyer but my partner is not – Nicola Sturgeon announced that the scheme would lend eligible buyers up to will we be eligible for the scheme? £25,000 to help boost their deposit and help them on to the property ladder. The government intends that there only be a requirement that one partner in a couple is a first time buyer. However, they have not confirmed this and Will I still need to contribute a deposit payment? whether the partner who owns a property would be required to sell it before Yes, you will still need to contribute a deposit of at least 5% of the value of being eligible for the loan. the house or flat. The loan is available to help boost this deposit. When does the loan need to be repaid? Can I use the loan money to bid over the The loan is secured on the equity of the house and can be repaid in full at valuation of the property? any time. It must be repaid in full if the house is sold. This means no monthly No, the government confirmed to ESPC that this is a deposit scheme so the payments are required, unlike a mortgage. money can only be used to boost your deposit. This means that you will need to save a 5% deposit, and the money required How much interest will be charged? to bid over the Home Report valuation of the property. Starter homes in The interest amount has not been determined and announced yet. Edinburgh and the surrounding areas are in high demand, so are frequently sold for over their Home Report valuation. How is this new initiative different to Scotland’s current help-to-buy scheme? So, will this scheme actually help first time buyers The government has informed ESPC that this new scheme will be applicable in Scotland get on the property ladder? to both re-sale and new build properties. The help-to-buy scheme is only You are already required to save at least a 5% deposit and the money to bid available on new build properties. over Home Report valuation. However, this scheme will help by boosting The loan amount is also different – the help-to-buy scheme helps to fund your deposit which will make monthly repayments more manageable. 15% of the purchase price (equity loan) while the new scheme will offer first Depending on your salary, you may not be eligible for a big enough time buyers up to £25,000 (cash loan). mortgage to secure a property with just a 5% deposit, particularly with house For the help-to-buy scheme, the property purchase price must also be below prices rising. The loan amount may therefore provide the boost you need to the threshold price which is currently £200,000 – at the moment, no secure a property. threshold price has been announced for the new scheme. One of the advantages of this scheme is that it will be applicable to both Repayment options also differ at the moment – a help-to-buy loan must be resale and new build properties, meaning you have a greater choice of homes repaid when you sell, but you also have the option of increasing your equity and areas.