Pollokshaws Living Archives - Page 8 of 10 - Urban Union Ltd

Category: Pollokshaws Living

Understanding the value of social housing

Creating a cohesive look which does not distinguish between social and private housing – while ensuring plans include a considered use of green space – allows for areas of differing character to develop which respond to their immediate vicinity and benefit the local landscape.

Housing associations are committed to improving the lives of their residents and communities. Their activities, from building homes to providing community services, are driven by this social purpose.

Well designed and well managed green spaces are essential for the enjoyment of residents. They can be used for play, recreation, socialising and relaxing. They can also provide environments which enhance biodiversity and support climate change adaptation. Positive uses of green, open space can unite people, build communities and contribute to a healthy society.

Accessible and safe green spaces may be important to people’s sense of well being and mental health and be a positive influence on levels of physical activity. What’s more, residents perceptions of safety can be influenced by various factors, one of which is suggested to be the presence of a green neighbourhood, with high trees and grass preserving visibility across spaces. Other research has shown that people who took responsibility for the green spaces close to their home and maintained it, perceived the neighbourhood as safer than those who did not. (F. E. and Sullivan, W. C. (2001) Environmental crime in the inner city: does vegetation reduce crime?).

As we try to imagine what our post-Covid19 future could look like, research has shown there is public support for a ‘green recovery’.  A report by Climate Assembly UK found that people would be prepared to continue many of the lifestyle changes enforced by the lockdown to help tackle the climate emergency and felt governments should take the opportunity to rethink investment in infrastructure.

Working from home is now highly popular and as a result, there has been a change in how – and how often – people travel. This has led the government to rethink investment in infrastructure and support low-carbon industries.

The findings set out below come from Climate Assembly UK, a group of 108 members of the public.

Nearly 80% of the members believed that the measures taken by the government to help the economic recovery from Covid-19 need to be redesigned to help reach net zero with 90% believing government and employers should encourage lifestyle changes to cut emissions.

Affordable housing plays an important part in this. Our high-quality homes are designed to be environmentally, economically and socially sustainable, with good links to public transport and pathways suitable for pedestrians and cyclists. This enables us to deliver what people are increasingly looking for in a home while helping the UK reach net zero.

  Chris and Daniel – Our 1000th Home Mover! We have officially handed over our 1,000th home – just six years after completing our first! This is a huge milestone for us. As part of the Robertson Group, we have four developments across Scotland, including two read more

We often say that our properties at Urban Union give people an opportunity to create a home that is both stylish and highly liveable. Our properties appeal to a wide range of buyers – from those starting out on their property journey, families wanting to be a part of a community and professionals working close to the city centre, to people looking to downsize in later life. Here are just some of our happy buyers who did just that:

“Genuinely Delighted”

“From our initial plot selection to receiving the keys we have been supported throughout our first home purchase.

“Lynn, the sales representative, confidently and expertly guided us through the development plans. Assisted with the selections of kitchens and bathrooms and advised what options and upgrades were available. All in a knowledgeable way that reassured us of our choices.

“During COVID-19, Kirsty and the team continued to keep us updated, informed and reassured that our home was being completed in a guideline compliant way.

“We have genuinely been delighted with the service at Urban Union and would recommended them as a home builder of choice.”

“A blank canvas”

“Urban Union has given us a blank canvas to create a home, with Laurieston Living being in the perfect location for City Centre living.”

“As we are In our 80s I was reluctant to make the move but I am glad we did as we have a lovely house a porch and a small garden and it has improved the quality of life of my wife and I, we are also delighted with the service and help we have received from Urban Union.” M. Laurieston

“Couldn’t be happier!”

“I have been in my new Urban Union home now for 2 years and couldn’t be happier. My flat is lovely, bright, spacious and all fixtures and fittings were built to a high standard. Everything still looks new and works perfectly. I am on top floor and don’t hear a sound from neighbours. I love my ensuite bathroom with shower. The flat was affordable and fantastic value for money. Would recommend Urban Union to anyone looking for a modern, cost efficient home (my utility bills a low).” J. Rowan

“I love my new home”

“I love my new home. It’s really well designed with a great layout and really nice finishes. Lyn was a great help throughout the buying process, keeping me informed at all stages and always ready to answer any questions. I’ve never bought a new build home before so this was really helpful. The team were also great in following up after I moved in to check everything was okay.”

“Nothing but praise”

“I have nothing but praise for Urban Union when it comes to building wonderful and affordable homes. Had been lucky and fast enough to reserve the last flat available in Phase 2 of the Pennywell living development the entire process has been smooth and since moving to my home 1.5 year ago I had no problems. Wonderful neighbours and a few minutes walking to Cramond Promenade.

“As a marathon runner the area is fantastic for long runs and long walks. In fact I’ve been so happy with my flat that I decided to reserve a bigger one within Phase 3 and am looking forward to moving in when it’s complete. Recently I’ve convinced two of my friends to buy flats within Phase 3 which only tells how much I trust Urban Union with the fantastic work they are carrying out to regenerate the area.

“My flat is lovely, bright and spacious”

“I have been in my new Urban Union home now for 2 years and couldn’t be happier. My flat is lovely, bright, spacious and all fixtures and fittings were built to a high standard. Everything still looks new and works perfectly. I am on top floor and don’t hear a sound from neighbours. I love my ensuite bathroom with shower. The flat was affordable and fantastic value for money. Would recommend Urban Union to anyone looking for a modern, cost efficient home (my utility bills are low).”

Take a look at our latest properties for sale.

 

Stamp Duty (LBTT) Threshold Raised

The threshold at which Land and Buildings Transaction Tax (LBTT) is paid was increased from £145,000 to £250,000 on Wednesday 15th July as the Government stepped up efforts to support homebuyers and help the economy recover from the impact of the COVID-19 pandemic.

The announcement was made by finance secretary Kate Forbes. It means that 80% of buyers in Scotland will be exempt from the charge, excluding the Additional Dwelling Supplement.

The announcement followed Chancellor Rishi Sunak’s Summer Statement in which he announced that in England and Northern Ireland, Stamp Duty would not be payable for properties with a purchase price of £500,000 or less.

For those moving into a home costing more than £250,000, they will save £2,1000.

Finance Secretary Kate Forbes said: “I am delighted that we are able to implement this measure quickly and remove uncertainty from the market.

“The UK Government had weeks to prepare for its decision this week to raise the threshold at which Stamp Duty Land Tax is paid on house purchases in England and Northern Ireland, yet we were given no advance notice.

“We responded yesterday to clarify our policy intentions and by introducing the change so rapidly, we are providing certainty to people in the process of purchasing a home. Overall, increasing the LBTT threshold will help increase housing market activity, boost the construction sector and stimulate our economy.

“Alongside this distinctive Scottish approach to raising the starting threshold for LBTT, I am also targeting further support in other areas. For example, we are injecting £50m into our First Home Fund, which provides first time buyers with up to £25,000 to buy a property. This will help an estimated 2,000 first time purchases.

“To mitigate the immediate adverse impact on the housing market in Scotland as a result of the Chancellor’s announcement, we are now working at pace on the necessary legislation and to ensure Revenue Scotland is ready to collect and manage the tax.”

If you would like to take advantage of this threshold rise, talk to us at Urban Union. We have several properties for sale at present that are available to reserve – take a look at our current property availability in Perth, Glasgow and Edinburgh. 

 

First Home Fund

Finance secretary Kate Forbes has announced that an extra £50 million will be added to the First Home Fund, a shared equity scheme providing first time buyers with up to £25,000 to purchase a property. The Government says that this move will support an estimated 2,000 first time buyers and increase the total funding to £200 million.

The Government will also be investing £100 million in targeted employment support and training – with further details to be announced.

The First Home Fund is a Government initiative to help first-time home buyers purchase a property. Up to £25,000 is available to all first-time buyers towards the purchase of both new build and existing properties.

In order to qualify for the scheme, you will be required to provide a minimum deposit of 5% of the purchase price (subject to individual lender requirements) and your mortgage must be at least 25% of the purchase price. Although the Government will have an equity share in the property, you will own the property outright. There are no monthly payments to be made towards the Scottish Government and no interest will be charged.

You will normally repay the Scottish Government’s percentage equity share when you sell your home.

The scheme is open to first-time buyers who are taking out a mortgage. You cannot apply if you are a cash buyer or if you have previously owned a property in the UK or abroad at any time (as either a sole or a joint owner).

The maximum contribution from the Government is £25,000 or 49% of the property valuation figure or the purchase price (whichever is lower). If you purchase a property for less than the valuation figure, the maximum Scottish Government contribution is £25,000 or 49% of the purchase price.

Read more.

 

A Date for the Diary – New Homes Week!

New Homes Week Unlocked is an incredible resource where beautiful new homes available from around the UK are being showcased along with expert guidance on how to take advantage of the fantastic initiatives available.

It takes place from July 20th and will give you the chance to find out more about the massive benefits that buying a new build home, compared to a second-hand home, gives you. New Homes Week Unlocked will support people to press ahead with the plans they have had to put on hold over the last few months.

Due to the Covid-19 crisis things will be a little different after it was postponed from May.

Interior designer Sophie Robinson will be sharing style tips, exploring show homes and providing information and advice on the new process of safely viewing show homes while social distancing.

Why buy a new home?

From superb finishing touches, quality specifications and fantastic deals available including a 10-year warranty as standard, buying a new home provides complete peace of mind. In addition, you can use the hugely popular Help to Buy equity loan scheme and the new Help to Buy ISA to help you buy your dream home and finally either stop renting or moving out of your family home.

So explore the many great reasons why you should buy a new build home from July 20th!

 

Surge in Demand for New Build Homes

Home buyers with low deposits are increasingly turning towards Help to Buy after banks continue to withdraw mortgage products.

Stats released by Zoopla this week show that demand for new homes is highest in the North East, at 139% above the level of demand seen the beginning of March, whereas demand for exiting properties in this region was up by just 72.5%. This demand (measured by a combination of inquiries and browsing) for new-build homes from first time buyers is up 87% since March. Demand for new builds is 66% higher across the UK, whereas demand for existing homes is up by 46%.

Scotland recorded a 33% increase in demand, even though the market remained closed until 29th June, but we expect to see a surge in demand that will exceed England’s figures due to the affordability of good quality homes in Scotland, especially now that the market here is open and banks continue to limit access to mortgage products.

Buyers locked out of the market

This rise in demand for newly built homes is largely due to first-time buyers being locked out of the general market because lenders are withdrawing mortgage products for buyers with low deposits. These buyers are now looking at the new build market where they can purchase a home with just a 5% deposit using the Help to Buy scheme.

Mortgage providers have withdrawn these products because should house prices drop, even in the short term, this could push highly leveraged buyers into negative equity. Several lenders are offering mortgages with a minimum of 15% deposit required as opposed to the 5% deposit required before the pandemic. This change will affect first time buyers who could potentially shut out of the market for the foreseeable future.

This change disproportionately affects anyone who is trying to get onto the property ladder, and unless first-time buyers have cash reserves, they are effectively shut out of the market.

What is Help to Buy?

The Help to Buy (Scotland) scheme enables those who want to buy a property to do so with just a 5% deposit. Help to Buy (Scotland): Affordable New Build and Smaller Developers Schemes have now been extended to March 2022 with an additional £55 million provided in 2021/22. This additional funding means that the government can help another 2,000 households to buy new-build homes.

Under the scheme buyers can borrow an equity loan from the Government up to an additional 20% of the property’s value meaning they can buy with a mortgage that covers 75% of the house price.

Demand is higher in areas where property is cheaper – and during the lockdown developers have been able to continue to sell property as they were already well-adapted to using virtual viewings and CGI imagery, and reservations could still be taken. This has resulted in a greater degree of activity compared to existing homes that could not take viewings or go on the market.

If you are considering taking advantage of the Help to Buy scheme, take a look at the current availability in our Perth, Glasgow and Edinburgh developments. 

 

Rise in Demand for New Build Properties

As the market reboots here in Scotland, it has been reported that there has been a spike in applications for new build homes.

Newly released figures show that that suppressed demand caused by lockdown restrictions on the property market has triggered a rise in demand for newly built homes.

The latest research from Knight Frank shows that the number of new applicants registering their interest for new developments between the 1st and 14th of June is already 4% higher than the same two week period last year, with interest expected to rise further following the reopening of the property market in Scotland on Monday.

Figures also show that May 2020 was exceptionally strong, with the number of new applicants registering their interest was higher than any month last year. In addition, viewing numbers have increased over the last two weeks with sales and marketing suites reopening with viewing figures just 6% lower than the five-year weekly average.

This indicates that the new build market has held up extremely well over this period, with the benefits of newly built home further boosting their appeal, in particular the ease of reservation, warranty, lack of chain and price negotiations to contend with, and Help to Buy. They are also extremely popular with investors given the low level of maintenance required.

What’s more, recent reports have shown that newly built homes rise in value three-fold compared to existing homes.

If you are considering buying a newly built home, Urban Union Ltd has a range of 1, 2, 3, 4 and 5 bedroom apartments and villas in our developments in Perth, Glasgow city, Glasgow Southside and Edinburgh. See our developments and contact us if you would like to find out more. 

 

 

New Build Values Outperform Existing Homes

Research from StripeHomes looked at price premiums, affordability, and house price growth for new build properties compared to existing homes.

For those looking to invest then sell the property on, the research looks at the appreciation in property values. In the last year, the average UK new-build property has increased by 7.3%, compared to just 1.5% for existing homes.

According to the report, new-build house price growth increased by 6-8% in every UK region over the last 12 months. Meanwhile, the market for existing property has only shown 3% growth over the last year in the top performing areas.

There are many benefits of a newly built home – not only is it a chain-free, simple purchasing process but you can move in as soon as the financials are in place. There are also incentives available for first time buyers and the Help to Buy scheme. Newly built homes are often better quality, more energy efficient and require very little maintenance for many years.

The real benefit of a new home is the appreciation of its value. Despite tough market conditions since Brexit and now the pandemic, new-build values have continued to go from strength to strength, far outperforming growth seen in the existing sector.

Glasgow has the UK’s strongest rental yield

For new-build investors looking to let their property in the near future, a recent study by Sourced Capital has shown that Glasgow currently has the highest rental yield in the UK.

Although buy-to-let rental yields on average have remained largely flat, up just 0.1% year on year, this  masks some very significant regional variations. Although Glasgow has had a very marginal decline on an annual basis, the current average rental yield of 7.87% remains the strongest in the UK buy-to-let sector.

Take a look at our current properties available to let. 

 

Help to Buy Extended to 2022

Yesterday the Scottish Government pledged £55 million to help property buyers get onto the market. The scheme has been extended by a year to March 2022.

The Government announced that more than 2,000 extra households would benefit from the scheme whereby buyers can access up to 15% of the cost of buying a new-build home with a purchase price of up to £200,000.

The Government share is repaid once the property is sold or when the share is bought out by the property purchaser.

The annual funding has been increased by £5 million to £55 million to finance the additional year, of which £15 million is ringfenced for homes bought from smaller developments.

Housing Minister Kevin Steward stated “A strong and growing house-building industry is vital to Scotland’s future economic prosperity – and particularly as we plan our strategic economic recovery from Covid-19. This extension will provide us with the opportunity to reassess future priorities for the market, taking account of economic conditions following the pandemic, as well as providing a helping hand to those seeking to buy their own home.

“Since 2013, the Help to Buy (Scotland) scheme has supported people with the purchase of over 17,000 new build homes and in particular supported young people aged 35 and under. Extending this scheme will help more people to buy a new-build property, particularly those who have suffered lower levels of income and have used up savings due to the impact of Covid-19 in recent months.”

Here at Urban Union Ltd. this is welcome news and we believe it will improve confidence in the market allowing young people to realise their dream of owning their own home when they may have otherwise missed out. At Urban Union we regenerate communities and build affordable, high quality homes for people at all life stages – from first time buyers through to downsizers.

What is Help to Buy (Scotland)?

Help to Buy (Scotland) is a shared equity scheme aimed at helping both first-time buyers and home movers buy a new build home.

Help to Buy (Scotland) is made of up two schemes. The Affordable New Build Scheme available to larger homebuilders and the Smaller Developers New Build Scheme for smaller home builders and is available through these participating builders.

The rules covering the two schemes the same and include:

  • A deposit of at least 5% is required.
  • Your combined deposit and mortgage must cover 85% of the purchase price.
  • The Scottish Government will contribute the remaining 15% of the purchase price holding security over this proportion till you own your home outright.
  • The mortgage must be a repayment mortgage of at least 25%. This cannot be an interest-only first mortgage.

Talk to us about our developments and available properties or find out more here.

An example of how you could use Help to Buy at Muirton Living

Prices from £105,000 with £2,500 incentives for July Reservations.
£105,000
5% client deposit of £5,250
£24,150 FHF contribution
Mortgage £75,600
£500 lender cash back
30 year term
• Fixed
• Monthly payment – £277.05
• Initial Interest rate – 1.94%
• Initial number of months on the borrowing rate – 24
• SVR payment – £380.06
• SVR rate – 3.59%
• Number of months on the SVR – 336
• APRC – this needs to be equally prominent as any other rate – 3.9%