Living in a picturesque English market town costs homeowners £41,633 extra with the most expensive within the London commuter belt.
Record low rates are a thing of the past as fixed mortgage deals increase in cost over the year despite competition from lenders.
Homeowners living within 60 minute commuting distance by train to Central London pay nearly 60% less for an average property.
East Midlands was the fastest growing region with house prices rising 6.5% for the year outpacing the rest of the country.
House prices remain subdued creating an opportunity for first time buyer house hunters as home owners struggle to sell their home.
Property values in London are lower for the fifth quarter with the North of England the worst performing region down over for the year.
Britain’s most expensive properties are likely to be found in Kensington Palace Gardens averaging £35m to buy a home.
The earnings a first time buyers need to to get on the property ladder in a UK city has increased by £8,000 over the last three years.
Greater product flexibility is driving rapid growth in homeowner demand for equity release with 120% more lending in the last two years.
Prime Minister Theresa May has pledged £2bn of funding for social housing building tens of thousands of new homes.
The number of remortgage buyers locking into attractive deals has increased 23% ahead of the Bank of England rate rise.
The government’s Help to Buy scheme is an unmitigated success by helping 170,000 home buyers to realise their dream property.
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
Address:
9th Floor, 30 Crown Place
London, EC2A 4EB
Phone:
0800 955 0058
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.