Strong bounce back in demand this year up 50% on usual levels as buyers search for more space in cities and suburbs as offices reopen.
Cash accessed using equity release increased 24% last year as homeowners benefit from rising property value to meet living costs.
Towns with the highest house price growth in 2021 have seen values rise as much as 21.8%, three times higher than the national average.
You need to pay almost £29 million to live on the UK’s most expensive street and all the top ten are located in London.
Higher demand has seen house prices rising 6.9% in the last year following the Covid lockdown with prices starting to ease.
People are distracted with the festive period and lower house prices in the pre-Christmas lull offer buyers many property bargains.
Record sales of 1.5 million homes are expected for this year and the strongest house price growth in 2022 will continue in regional markets outside London.
After the end of tapered stamp duty demand for property is historically high with low supply pushing house pieces to new highs.
Energy prices are rising and people pay a ‘green premium’ of £40,000 to live in the most efficient properties rather than less sustainable homes.
Demand for more space is driving house prices higher in the suburbs as the pandemic changes the lifestyles of city homeowners.
Equity release buyers will benefit from more choice as Standard Life is to enter the market and increase competition.
Lenders reduce rates as low as 0.84% for home movers and remortgage buyers with the most equity with more competition.
Equity Release may involve a Lifetime Mortgage or a Home Reversion Scheme. To understand the features and risks, please ask for a personalised illustration. Equity Release may affect your entitlement to means tested state benefits and will impact on the size of your estate. For Equity Release London City Mortgages charge a fixed fee upon completion of £695. For Mortgages a fixed fee is charged on application. Typically this is from £295 up to £495 for the services selected.
Equity Release - Equity Released from your home will be secured against it. Mortgages – Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it. Think carefully before securing other debts against your home. The information contained in this website is subject to the UK regulatory regime and is therefore intended for consumers based in the UK.
CONTACT
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Phone:
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Email:
info@londoncitymortgages.co.uk
London City Mortgages Limited is a registered company in England & Wales under company number 09278987. London City Mortgages Limited is an Appointed Representative (FCA no. 655965) of Blackstone Moregate Limited (FCA no. 459051) which is authorised and regulated by the Financial Conduct Authority. LCM and LCM Equity Release are trading names of London City Mortgages Limited.