Uncategorised Archives - Page 3 of 5 - Urban Union Ltd
Please note that our office will be closed for the festive period from Thursday 24th December until Wednesday 8th January and will reopen again Thursday 7th January 2021.
 
In case of an emergency please contact us on the following numbers:
 
Out of hours for Muirton & Pennywell is 0121 221 2869
 
Out of hours for Laurieston are as follows:
Plumber Mark Watt 07957 922472
Electrician Brian Faichnie 07939 530599
Joiner Andy Kennedy 07792 099717
We hope you all have a wonderful Christmas and a Happy New Year!

What is the First Home Fund?

The First Home Fund is a scheme run by the Scottish Government to help first-time buyers purchase a property. The scheme opened in December 2019 and the aim was to provide £200 million of funding for first-time buyers. The First Home Fund closed to new applications on Friday 2 October 2020 but this simply represents a pause in the scheme which will re-open in 2021 for purchases completing from 1 April 2021 to 31 March 2022.

The Scottish Government continues to support homebuyers and the housebuilding sector through existing schemes including Help to Buy (Scotland) and the Low-cost Initiative for First Time Buyers (LIFT).

It is a shared equity scheme whereby the Scottish Government will have an equity share in the property, but you will own the property outright. You will normally repay the government’s share when you sell your home, but you can also choose to pay this off earlier.

The scheme is open to anyone who does not own, or has previously owned, a property in Scotland or anywhere else in the world. You will need a 5% deposit of the purchase price (subject to individual lender requirements) and your mortgage must be at least 25% of the purchase price.

This scheme allows those who want to get onto the property ladder to split the cost of purchasing the property with the Scottish Government and funding your share via a smaller deposit than otherwise would be required, and a mortgage.

You won’t need to pay monthly instalments or interest to the Scottish Government for their contribution but will pay it back when you sell your home. While you own the property, you will have full ownership rights and will hold the full title.

You cannot apply for this scheme if you are a cash buyer or if you own a property in part or full or have previously owned a property as a sole or joint owner.

The maximum contribution from the Scottish Government is £25,000 or 49% of the property valuation figure or purchase price (whichever is lower). You can submit a joint application and the property must be the sole residence of all applicants. In addition, you cannot apply to any other Scottish Government shared equity schemes such as Help to Buy Scotland while applying for this scheme. You must withdraw this if you have an existing application.

It is important to consult with an Independent Financial Adviser before applying to the scheme as they can help you to decide which is the most appropriate scheme for your circumstances.

This scheme can be used to purchase one of the many properties available from Urban Union across all our developments. Contact us to find out more about current and future availability.

 

Have Your Priorities Changed?

In the wake of the COVID-19 pandemic, research has shown that our priorities for what we want out of our living spaces has changed.

Indoor space, home offices, gardens and balconies have overtaken the most common features on buyer’s property wish-lists including the number of bedrooms and proximity to public transport.

Houses are especially in demand from those who are working from home for the foreseeable future – using an extra bedroom as a study. In addition, home buyers are looking for more outside space by way of a garden, roof terrace or balcony – as well as being in close proximity to  local parks and cycle routes.

This is major shift in buyer behaviour as previously features such as external appearance, kitchen size and number of bedrooms were the priority for those looking for a new home.

This year’s pandemic has been unprecedented. As a result of being confided to our homes for much of the year, people have realised the importance of their inside living space space as they look towards spending more time at home either working or socialising when permitted. In addition, people want to be prepared should we face a similar situation in the future as we did in March with Tier 4 restrictions in place.

Life in 2020 has become more home-based with people working, eating, exercising and socialising from the comfort of their own home. With a new emphasis on cycling to work and avoiding crowded public transport routes, access to cycle lanes is also now more important to many buyers.

Research from Deloitte found that 60% of people who don’t normally work from home will be doing so more often once the lockdown has been lifted and according to the Bank of England Chief Economist, 50% of all office based staff will be working from home full or part time, compared to 5% before the pandemic.

If you are looking for a property with space, light, access to communal areas or with a balcony or garden, take a look at our brand new properties for sale in Glasgow, Pollokshaws, Edinburgh and Perth all at affordable prices, in regenerated communities and close to city hubs. Help to Buy and First Home Fund available (Ts and Cs apply).

Our new sales cabin at Pollokshaws Living is now open – find out more. 

This year, All Hallows’ Eve – commonly known as Halloween – looks set to be a little different! Rather than the usual guising, why not take part in one of these events.

Samhuinn Fire Festival, Edinburgh

This Celtic festival is run by the Beltane Fire Society and harks back to the traditions of Samhain, the pagan celebration of the end of the harvest season and the beginning of winter.

See the colourful costumes depicting ancient folklore characters, listen to music, see street theatre performances and dance around the fire at this traditional pagan festival!

Discover more.

Mercat Tours, Edinburgh

Take a spooky tour of Edinburgh’s most haunted underground vaults, walk through the Old Town after dark, hear tales of witches and vagabonds and find out more about Edinburgh’s Gallows! You can even attend an adult-only tour to find out about the macabre history of Edinburgh in all its gory detail. This scary tour isn’t for the feint hearted so make sure you know what you’re letting yourself in for before booking!

Discover more.

Real Mary King’s Close, Edinburgh

Immerse yourself in Edinburgh’s dark past on one of The Real Mary King’s Close’s Lantern-Led tours! Find out more about The Close’s residents lit just by lanterns and meet the characters that would terrorise people of the time. The tour runs every 15 minutes and takes about an hour.

Discover more.

Halloween Pumpkin Trail, Castle Kennedy

Visit the spooky Halloween pumpkin trail at Castle Kennedy in Dumfries & Galloway where you can explore the autumnal gardens and search for hidden pumpkins. Once you’ve found them, grab a hot chocolate in the tea room.

Discover more.

St. Andrews Ghost Tour, St. Andrews, Fife

This award-winning ghost tour is in the historic St. Andrews. Starting in Church Square, behind Holy Trinity Church, you can explore the dark streets, hear tales of folklore, ghost stories and discover more about the witches in the area.

Discover more.

The Edinburgh Dungeon

Visit this gruesome attraction to find out about Scotland’s most horrifying events and creepiest legends! This year sees the return of Séance…Is Anybody There? You’ll be invited to talk to the victims of Burke and Hare and other murderers from the past. You’ll have plenty of scares so make sure you know what you’re letting yourself in for! Not suitable for children under eight.

Discover more.

Edinburgh Drive in Movies – Halloween Edition

Don’t forget the popcorn! Edinburgh International Festival and Unique Events are presenting a Halloween programme of movies available to view at the drive in! Lasting a week, this programme of scary movies includes cult classics such as Ghostbusters, Scream and Jaws. You can win prizes for your Halloween costume and enjoy a sing-a-long car disco!

Discover more.

All of these events are scheduled to take place at the time of writing, but please pre-book where possible and check with the venue before setting off. 

Here at Urban Union we have ramped up activity on our newest site in Scotland with the launch of our sales cabin at Pollokshaws Living.

The site, in the southside of the city, officially launched earlier this year and found immediate success with huge demand for the homes on offer.

Now, we have taken up permanent residence on the site, allowing interested buyers to meet with sales representative Amanda to learn more about the development. Earlier this week we took some footage of the new promotional video being made, which will be shared across social media.

Suited to first time buyers and growing families, there is a range of house types available at Pollokshaws Living including one and two bedroom apartments as well as two, three, four and five bedroom terraced homes.

Prices range from £160,000 to £300,000 and a large proportion of homes are eligible for the First Home Fund (which will reopen for applications in early 2021) and the Help to Buy (Scotland) scheme which runs until March 2022, enabling first time buyers to purchase their home with just a five per cent deposit.

Neil McKay, managing director at Urban Union:

We have been working hard at Pollokshaws Living over the last few months, with construction work getting underway after the recent lockdown. We’re really pleased to launch our sales cabin which will be the first port of call for people interested in moving to the regenerated community we are contributing to.

“There was huge demand for the first batch of homes we released earlier in the year, and we expect that to continue in the months ahead. We will be operating an appointment-only system at the sales cabin to help protect both staff and visitors, so would encourage people to get in touch should they want to learn more.”

Set to complete in 2023, Pollokshaws Living is part of the wider Transforming Communities: Glasgow programme which aims to provide sustainable mixed tenure communities through the provision of new housing, community facilities, green space and, where appropriate, commercial units.

Allan McDonald, Development Services Team Manager at City Property, who acted on behalf of Transforming Communities: Glasgow:

“We are delighted to see Urban Union on site at Shawbridge Street and we look forward to seeing the positive impact of this housing-led development within the Pollokshaws Transformational Regeneration Area”

Located in a highly sought-after area in the southside of Glasgow, the development is within an easy commute of the city centre. Pollokshaws West train station is very close to the development, while the M77 motorway is within a five-minute drive, as is Silverburn Shopping Centre.

The development is next to Pollok Park, which provides the perfect escape from city life. In addition, there are a range of nearby supermarkets including Morrisons and Lidl, while nearby Shawlands has a host of bars, restaurants, independent shops, boutiques and health and sports facilities.

Councillor Kenny McLean, City Convener for Housing, Neighbourhoods and Public Realm at Glasgow City Council:

“These new homes will be key to the regeneration of Pollokshaws, an area that offers so much, being so close to Pollok Park, fantastic transport links and great shopping. I am sure that the regeneration of the area will now go from strength to strength.”

Pollokshaws Living is also close to several primary and secondary schools, including St Conval’s Primary School, Tinto Primary School and Shawlands Academy.

Urban Union has a strong track record in delivering affordable housing, with its Laurieston Living development in the Gorbals area of the city winning multiple awards. 

Find out more about Pollokshaws Living

Negative interest rates

It has been reported this week that The Bank of England has written to UK banks asking them to prepare for zero or negative interest rates

What does this mean?

Negative interest rates mean that the Bank of England would charge banks money instead of paying them interest on the money they deposit. If the base rate went from the current 0.1% to -0.1% it means that instead of earning interest of 0.1% they would be charged 0.1% by the Bank of England.

It could impact consumers as high street banks base the interest they pay on savings accounts and charge on certain mortgages on the base rate set by the Bank of England.

By charging banks to deposit money it encourages them to lend money to businesses and consumers, rather than hold it in reserve – making it cheaper and easier for businesses to borrow money, which in turn boosts the economy and supports employment.

Consumers

From mortgage rates, savings, pensions and insurance this development could change the way that you manage your money. The thought of interest rates going into negative figures has been discussed by economists for the last few months but last week the Bank’s Monetary Policy Committee (MPC) consisting of high ranking members revealed that it was looking at implementing a bank rate below 0.0%. It currently sits at a record low 0.1%.

Mortgages

In the short-term, homeowners who are on a variable or tracker rate mortgage could see their rate fall slightly but many tracker mortgages have a clause that prevents the interest falling below a certain level. If you’re on a fixed mortgage rate you won’t see any change but if your mortgage deal is nearing the end you may find some competitive deals. Therefore if you’re considering remortgaging ahead of your fixed-rate ending, it could be worthwhile but watch out for any Early Repayment Charges. Talk to a mortgage advisor to find out the best course of action.

Property market

The property market has been booming since lockdown as pent up demand combined with a re-evaluation of priorities has resulted in a flurry of activity. Lower mortgage rates will further rekindle the property market which, in turn, could drive property prices up. As a rule, low borrowing results in more activity in the housing market. Given that higher income jobs haven’t been as much affected as those in professions at the lower end of the earnings scale, expensive properties may increase in price. Property under £300,000 could see a small increase in demand and more stable prices.

Finances

This isn’t good news for savers as they will earn lower or no interest on the money they have in savings accounts. However, it is unlikely that you will have to pay to keep your savings in an account. Those with cash in savings may choose to put their money into fixed-term savings accounts whilst ohers may choose to withdraw their cash which could prompt a rise in spending. In addition borrowing could be very cheap. For those wanting to put their cash somewhere else, they will look for safe, high yield options with a steady return and financial advisors could recommend stocks and shares as an alternative.

Pensions

A low rate environment in terms of the amount which pensions pay out – the annuity rate – has fallen. A representative pension today pays around 4.9 % for every pound in the pension pot, compared with almost 8% back in 2007. A negative rate environment could make this fall further.

With interest rates low – and looking to go even lower, now is a great time to consider securing a mortgage. Talk to us to find out about reserving a new home in one of our regenerated communities.

 

The Scottish Home Awards 2020

We are thrilled to have been named finalists in no less than three categories for this year’s Scottish Home Awards! 

Founded in 2007 the event is run for the benefit of the housebuilding community, with the objective of helping housebuilders and housing associations sell, rent or promote their properties more effectively.

Following entries from 109 housebuilders, housing associations and support businesses from across Scotland we are delighted to have reached the final in the following categories: 

  • Community Contribution award.
  • Affordable Housing Development of the Year (Private Sale) for Laurieston Living.
  • Housing Regeneration Project of the Year for Laurieston Living.

Due to the current limitation on gatherings, the 2020 Scottish Home Awards will be hosted as a virtual event on Thursday 29 October and will include dedicated networking zones, live hosts, entertainment, and video messages which can be watched from the comfort of your own home.

The national awards celebration for housing in Scotland will be hosted as a virtual event this year as plans are now being finalised for a broadcast quality, live digital experience which celebrates the best in new build housing.

Celebrating the best in new build housing, The Scottish Home Awards reported a record-high volume of entries in this year’s competition and working with sponsors, Ross & Liddell, finalists had been announced in 19 categories earlier this year.

Kirsten Speirs, Director of KDMedia, which operates the programme, commented;

“We’re excited to be adding digital events to our Scottish Home Awards programme.  Working with our suppliers and advisers, we have trialled many products over recent weeks and we are feeling very inspired that we can deliver something special for our guests who regularly attend the dinner.

“Digital events are different and will offer an entirely new experience for finalists, winners and sponsors.  The results gained from networking can be much more effective and we can enhance the profile of our sponsors in a new way which can also deliver real results for businesses.   We’re very much looking forward to getting started and continuing this new dimension to the awards in the years ahead.”

Discover more. 

Don’t Just Choose a Home – Choose a Community

When choosing to buy a new build home you will no doubt have a checklist of what you’re looking for. But have you considered the kind of community you’ll be a part of?

At Urban Union we specialise in not only delivering outstanding new homes, but regenerating communities. With four developments ongoing in Scotland – Laurieston Living and Pollokshaws Living in Glasgow, Pennywell Living in Edinburgh and Muirton Living in Perth, our ambitious developments deliver homes where they are most needed and in doing so we support local communities and enhance the lives of those who live there.

We create homes that provide a mix of terraces and apartments in a variety of different house types suitable to first-time buyers and growing families alike. In addition to one and two-bedroom apartments, our developments include two, three, four and five-bedroom terraced homes. Everyone from young professionals to families can enjoy a modern and stylish home at an affordable price.

Established in 2011 with the aim of working in Glasgow, similar regeneration opportunities followed, and we now deliver housing in key regeneration areas across Scotland.

With a track record in delivering critical regeneration projects to support the demand for high quality, affordable homes we provide an opportunity for people to join the property ladder in city centre locations. New sustainable mixed tenure communities are facilitated through the provision of new housing, community facilities, green space and, where appropriate, commercial units. Our developments combine superior architecture, urban design and spacious, flexible accommodation.

The heart of a community

Community engagement is at the heart of our plans and our aim is to build relationships with the local communities to ensure the homes we build are to the benefit of the people of the cities in which we have developments.

Various jobs are created during the construction phase of the project, with Urban Union committed to providing employment opportunities for local people.

We have successfully delivered hundreds of homes at our developments and are putting that award-winning experience to good use as we support ongoing regeneration.

Embedded in our developments is the link to local community, for example connecting the community by supporting the Citizen’s Theatre, local school children helping to plant trees at the Pennywell Nature Garden, celebrating local heroes with our Living Legends arts project at Laurieston, and running young apprenticeship programmes links to local schools and colleges across all of our Projects.

Commitment to exceptional design

We work with architects who have an ongoing commitment to creating high quality, crafted architecture, public realm and landscape that is embedded and connected to its local and wider context. We ensure that our regeneration projects benefit the local landscape and community, so our sites feature green spaces and a mix of accommodation, with potential for commercial opportunities and retail outlets.

Help to Buy

The range of properties are competitively priced and are suitable for a wide variety of needs and budgets. Most include outdoor space and the flexibility for home working.

Prices start from just £105,000, and large proportion of homes at the development are eligible for the new First Home Fund, which enables first-time buyers to purchase their home with only a five percent deposit.

We enjoy welcoming residents to the area to start the next chapter of their lives and becoming part of a thriving community.

Take a look at our developments here. 

 

  Last Remaining Apartments We have just four apartments remaining at our Muirton Living development in Perth. Priced at £105,000 this would make an excellent starter property – and by using Help to Buy or the First Home Fund an apartment could be yours with read more

 

Are you a first-time buyer and wondering where to start?

When looking to buy your first property, the first thing you need to ask yourself is what you can afford. Buying a property is a long-term financial commitment so you need to consider how much you can put down on a home as a deposit as this will affect the mortgage deal you’re eligible for. The larger the deposit, the better the interest rate. You could use money from an existing property, savings, money that family is willing to gift you – and you’ll need to look at your monthly income and outgoings to determine if you can afford the commitment.

How much you can borrow?

Every lender has different lending criteria and ways of calculating how much they are willing to lend you if you are eligible for mortgage. They will look at your income, your deposit, regular outgoings and your credit rating. If you are buying jointly with a partner or family member, they will look at these for both applicants.

You can purchase a property with a 5% deposit, but lenders typically require 10 to 20% of the purchase price, and the higher the deposit the better the interest rate you will be offered. You can also use Help to Buy or the First Home Fund on first properties such as those offered by Urban Union. This means that you will receive government help with your deposit by way of an interest free loan.

Working out what you can afford

Start with your annual income before taxes along with your deposit amount. You can use a mortgage calculator to work out the mortgage you will be offered and what your monthly repayments will be. You’ll choose between a variable rate mortgage or a fixed-rate for 2, 3 or 5 years although you can also take out a 10-year fixed rate mortgage deal.

Other expenses will need to be taken into account including Stamp duty (LBTT here in Scotland) although you may not need to pay this if you are buying a property below the threshold. You’ll also need to consider buildings insurance, moving costs, estate agents fees (if selling a property), solicitor fees and mortgage arrangement fees – but these will vary depending on what sort of property you are buying.

When buying a home from Urban Union the price listed is the price you pay, with no ‘offers over’ or competition from other buyers. You simply need to go through the process and pay a reservation fee, which is deducted from your purchase price. Talk to us to find out more about the process.

Lastly, when calculating what you can afford remember that the unexpected can happen so it’s a good idea not to push yourself to your spending limit.

Take a look at the benefits of buying a newly built home.