Amidst reports that average London rental prices could hit an all-time high of £2,700 per month next year,[1] Fairview New Homes has partnered with Experian to host an educational event to help inform buyers on how they can escape sky-high rental costs and get on to the property ladder.
In a national survey conducted by Fairview, the top three concerns people have about buying their first home are mortgage rates (27%), understanding how the property market works (23%), and not knowing where to start (23%).[2] This event aims to combat all of these concerns with a series of educational talks and one-to-one discussions with industry professionals from Fairview New Homes, Experian, and mortgage advisors, Torc24.
The event, taking place from 10am-5pm on Saturday 9 September at Epping Gate in Loughton, Essex, aims to help hopeful buyers get ‘mortgage-ready’.
Head of Consumer Affairs at Experian, James Jones, will be holding talks at 12pm and 2:30pm to educate attendees on how to look after their credit score, including the importance of checking monthly budgets, having paperwork organised and research conducted on the lender market…with more to be revealed at the event. The credit score expert will also be available for one-to-one sessions in between.
James Jones, Head of Consumer Affairs at Experian, said, “Credit scores are becoming increasingly important as finances are being squeezed due to rising interest rates and the cost of living, therefore lenders are looking far more closely at credit scores to ensure people can meet their repayments. It’s probably never been more important to have a strong credit score if you’re planning on buying a home with a mortgage.
“We recommend that aspiring homeowners start engaging with their credit reports at least 6-12 months before they start their mortgage application, and we will use this event at Epping Gate to help first-time buyers on the best way to do this ahead of applying for their first mortgage.”
Chris Hood, Sales and Marketing Director at Fairview New Homes, says, “As the first-time buyer developer of choice, we’ve helped thousands of buyers get onto the property ladder – many of whom did not even realise that they were eligible to purchase a property.
“At a time where the rental market is increasingly unattainable for young people, this partnership with Experian further cements our commitment to educating first-time buyers in the home-buying process, with a good credit score and being eligible to apply for a mortgage being key factors in doing so.”
Mortgage advisors, Torc24 will be also on hand for one-to-one sessions to provide support and answer any questions attendees might have about mortgage rates, products and applying for a mortgage.
Guests will have the opportunity to talk to Fairview’s team of sales experts to discuss tailored buying plans and discover the incredible incentives that they can leverage to help them purchase their first home, including the Save To Buy scheme, which Epping Gate residents Eleonora and Stan used to purchase their first home at Epping Gate in June this year.
Speaking of the scheme and her buying experience with Fairview, Eleonora said, “The main thing for us was to escape the unpredictable rental market. By buying, we are able to invest our money in something that will one day be ours, rather than keep paying landlords.
“Everyone deserves the chance to own their own home, Fairview gave us that chance.”
Encompassing a range of spacious and modern one-, two- and three-bedroom apartments, starting from £325,000, Epping Gate is the perfect place for young professionals and families to call home, with many plots available to purchase via the Deposit Unlock scheme.
