The average price for a flat has increased by £75,074 in just five years and rising faster than any other property type in the country.
Thousands of mortgage prisoners caught paying high interest rates due to affordability rules could be given more help from lenders.
New stamp duty relief introduced by the government has saved first time buyers £2,300 on average when buying their first home.
In the first quarter of 2018 housing wealth accessed using equity release has doubled in only two years with nearly £10 million a day.
Official statistics confirms the first fall in London’s annual house price growth of -1.0% since September 2009, the lowest in the country.
Over the past two years house price growth has exceeded earnings for a fifth of homeowners by as much as £52,000 in some areas.
London is the worst performing region down 1% for the year while house price grow across the country is subdued.
Annual house price growth in London is only one percent with property values falling in 42% of postcodes in the capital.
Half of the regions in the country have posted falls in house prices for the month with the North East reducing -5.5% over the month.
Second time buyers find it more difficult to move home than a decade ago with higher deposits, moving costs and lack of suitable housing.
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.
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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.