Rents have been fairly stable in this area over recent years. However, the cost of buying a house has been increasing steadily. The table below gives an indication of the likely costs of accommodation in the private sector by taking an average for all property types in each local authority area.
(Apr – June 06)
Local Authority Area
Letting agents cannot charge you for registering with them to look for accommodation. However, they do usually charge for certain aspects of their service. You will usually be required to pay one month’s rent in advance and a deposit of around six weeks’ rent, plus any additional administration charges. For a property let at £500 per month, you will therefore need around £1,400 to access the tenancy.
When buying a home it is important to consider all the financial responsibilities which are involved. It is advisable to ensure that you have around £3,500 in savings to cover the fees and costs associated with the purchase. This in addition to your regular mortgage repayments, general property maintenance and any service charges. It is therefore always preferable to seek independent financial advice.
Affordable Housing Options
Housing registers (often referred to as waiting lists) are maintained by or on behalf of local councils, in order to allocate affordable homes owned and managed by both the councils and housing associations. Those on the housing register may also receive notice of certain other opportunities such as the HomeBuy schemes. For further information on how to apply to join the housing register, please use the contact details in Appendix 3.
Transfers and Exchanges
If you already rent a home from a Council or Housing Association, you may be able to transfer or exchange your home with another tenant. For further information, please contact your landlord. Another option would be to register with HOMES, the national mutual exchange register. For more information please contact HOMES or your landlord using the details within the useful contact list at Appendix 3.
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