Right to Buy (RTB)
If a person rents their home from a local authority or
a housing association, right to buy gives them the right to purchase the property at a discounted
price. It is an attractive proposition in most cases, but the process can be complicated.
Buy to Let
A growing means of investing for the future with the possibility
of both capital growth and rental income. Most lenders require a minimum deposit of 20%.
Remortgage
It is estimated that the vast majority of home owners would benefit from remortgaging,
which is essentially shopping around for a better deal. In some cases people will use the opportunity
to raise some capital for other purposes such as home improvements or a new car.
Equity Release
With the diminishing returns expected on pensions, equity
release will become an increasingly popular option. In 1997 SHIP (Safe Home Income Plans), which
represents the major equity release providers, reported that total equity release sales were £70
million for the whole year. This increased by over 700 per cent to £572 million in 2001.
First Time Buyers
No explanation needed.