Moonbadger's posterous

In a scheme intended to inject some lifeblood into the housing market, the government is once again trying a first time buyer revival for those locked out of the markets. However, there is a significant difference in that the new scheme is only applicable to mortgages for newly built homes, unlike traditional mortgages for first time buyers like this one from Ulster Bank, which will allow you to invest in any property as long as you meet the financial requirements.

Known as the 'FirstBuy shared equity scheme' this will act as a replacement for the Government's previous shared equity scheme known as HomeBuy Direct, which ended in January 2011. The new programme will allow first time buyers to contact and approach new-build sites participating in the scheme as early as September 2011

To enter the scheme prospective buyers will need to front up a 5% deposit, before taking out a shared equity mortgage for 75% or 80%. The remainder of the mortgage will then be funded by a shared equity loan of up to 20%. Buyers should be aware that 5% deposit can erode if the value of the property decreases significantly.

This shared equity loan is repayable on the sale of the property along with 20% of any increased value of the property.  One integral benefit of the scheme is no interest will be charged on the shared equity loan for the first 5 years, after which a low interest rate of 1.75% over inflation will be charged.

However unlike a joint ownership or shared ownership mortgage, the shared equity loans enable a first time buyer to be the sole owner of the property. The FirstBuy equity loan is offered equally between the house-builder and the Government.

First time buyers can find out more about which properties are available on this basis through their local HomeBuy Agent or any new house-building projects taking part or promoting the FirstBuy shared equity scheme.

This week a firm from Bradford was found guilty and fined, after a lapse in training and safety standards led to the amputation of a 22yr old casual worker’s hand. According to the report the worker was told to operate the ‘press brake’, a machine used to bend plates of metal and notorious for causing accidents, but was only given 10 minutes training. Whilst operating the machine an electronic motion guard employed to stop the ‘press brake’ failed to work, the result of which led to the industrial accident.  

The HSE (Health and Safety Executive) prosecuted the company for breaching Regulation 11(b) of the 1998 Provision and Use of Work Regulation Act:

11.—(1) Every employer shall ensure that measures are taken in accordance with paragraph(2) which are effective—

(a)to prevent access to any dangerous part of machinery or to any rotating stock-bar; or

(b)to stop the movement of any dangerous part of machinery or rotating stock-bar before any part of a person enters a danger zone.  

By failing to maintain adequate safety measures resulting in an injury at work and the amputation of a worker’s hand, the firm was found guilty of negligence, fined £12,000 and ordered to pay legal costs.

In a statement Paul Newton, an inspector from the HSE, said: “The dangers of working with press brakes are well known in the industry, and there have been many instances of workers being seriously injured. That's why these machines are fitted with guards to prevent access to the danger zone. In this case, the company's failure to ensure these guards were effective had tragic consequences."

According to HSE figures there were over 7million work related accidents recorded last year, 4,000 of which were caused by contact with moving machinery and 25% resulted in major injuries. For more details on work related accident claims, pursuing a negligence case or advice on amputation claims and specialist services contact Access Legal for more details. 

Financial recessions are always difficult to cope with. As the economy retracts, families and individuals often tighten their belts and batten down the hatches, in order to weather the fiscal storm – The decision to consolidate and hunker down is often caused by job insecurities, inflationary pressures and the general understanding that the consequences of a recession cannot be simply waved away with a magic wand or fixed overnight.

One of the sectors hardest hit by the recession has been the charity sector. During 2009 52% of the organisations interviewed said that they’d been seriously affected by the economic downturn, most of whom admitted to already implementing cost reduction plans. Yet, despite the hardships, it appears that UK citizens are still doing their best to help charities. This year Comic Relief took a record £74.3m, the highest amount reached in the charities 23 year history.

UK companies are also holding on to their charitable credentials, supporting organisations and community projects up and down the country. This week Coutts & Co, the UK based investment management firm, announced that they would be supporting Canine Partners as their charity of the year. On their website the group stated that they were committed to the sterling work conducted by the charity and intended to raise in excess of £10,000 through a number of fundraising events across the year.

The government is also continuing to support charities during these hard times. In a recent Cabinet Office post, the government announced that 183 charities and organisations would be receiving funding worth nearly £15m from the newly created Transition Fund. The scheme is reputedly part of a £107m fund aimed at helping charities face the current financial challenges. 

Visa Information

Holidaymakers wishing to visit India must obtain a visa before entering the country. Foreign nationals entering on long term visas must register their stay at the nearest Foreigners Regional Registration Officer within 14 days. 

Holidaymakers are allowed to visit neighbouring countries should they have the appropriate documentation, but after leaving India passports will be stamped and re-entry to the country is barred for the next two-months, subject to an appeal with the Indian High Commission or Consulate.

Health Information

All visitors to India are advised to carry fully comprehensive medical insurance. Hospitals outside of major cities are not up to UK standards, especially when it comes to psychiatric related illnesses.

Holidaymakers are advised to seek out GP advice before embarking on a trip to India, due to prevalence of diseases such as Malaria and Dengue. Travellers are advised to only drink boiled or bottled water. Avoid drinks with ice and salads.        

Travel Information

Despite a number of Foreign Office warnings regarding terrorism, the majority of India appears to be relatively safe to travel in. In recent weeks heightened security has been in place due to the Cricket World Cup, because of this heightened state visitors to India are advised to put aside additional time for checking in/out of hotels and airports.

Due to local and geo-politics the Foreign Office is continuing to advise UK citizens against all travel to the Jammu, Kashmir and Srinagar areas.  

The city is currently served by Hyderabad International Airport. For more information on Etihad flights to Hyderabad from European and international locations click through for more details.

City dwellers may already know this, but on January the 3rd 2012, in an attempt to become a cleaner and less polluting city, London is set to introduce the LEZ: a Low Emission Zone, aimed at reducing the city’s carbon footprint.

The scheme initially commenced on the 4th of February 2008, but several sections of the new legislation have yet to be phased-in. However, despite rumours that the controversial Phase 3 would be delayed, it appears that the new LEZ conditions, which will involve tighter restrictions on virtually all automobiles passing into the Greater London area, is set to go ahead from next year.

In a recent statement, London’s eccentric mayor Boris Johnson announced that a number of packages and incentives had been agreed upon, with a number of prominent vehicle manufacturers, including Volkswagen UK.

In a speech the Mayor of London said: “The vast majority of people who are affected by these new changes to the London Low Emission Zone have upgraded their vehicles and need not take any action. But for those remaining people I know these are difficult times and that their vehicles are essential for their livelihoods.  I want to do all I can to help... I am pleased to announce I have secured a hefty package of deals with major van manufacturers such as Volkswagen which will help Londoners trade up their used vans for newer, cleaner models.”

Stage 3 of the LEZ will start on the 3rd of January next year; all large vans, pick-ups and 4X4’s registered as new before Jan 2002 will be subject to the LEZ charge. For more information on the LEZ and on what vehicles will be subjected to the charge, see the designated LEZ page on the Transport for London website. For more information on Volkswagen package deals see the VW website or contact your local dealership for more information.