Moving home 'set to become more expensive'
Moving home could soon become an even more unattractive proposition, with fixed rates on mortgages set to increase, it has been claimed.
Speaking on behalf of mortgage lender John Charcol, Ray Boulger suggested a number of finance providers could raise their prices over the coming days.
He explained around four-fifths (80 per cent) of the firm's clients were on fixed-rate deals and said numbers could be similar for others in the industry.
"If interest rates continue to rise then the current recovery in the housing market … may well wobble," Mr Boulger predicted.
He added this is because the recovery has been mainly based on increases in affordability, a fall in house prices and a drop in interest rates.
The comments may spur some homeowners into improving their property with a conservatory or loft conversion.
A recent report from Nationwide suggested increasing floor space by ten per cent could add around five per cent to the value of a typical house.
This amount increases to seven per cent in detached residences.
Housing market 'may not be set for recovery'
08 June 2009
Brits considering whether to move or improve may be interested to hear a property expert has suggested the housing market is not at the end of its slump.Recent figures from Halifax suggested the industry may have reached its lowest...
Conservatory owners urged to check insurance details
05 June 2009
Brits who have invested in a conservatory to make the most of their garden during the warmer months have been advised to make sure their home insurance covers their outdoor items.A number of companies, including Saga and Halifax, have...
Brits urged to consider environmental impact of homes
04 June 2009
People thinking about building a conservatory may decide to opt for an environmentally-friendly model after Bellway Homes revealed how much carbon dioxide (CO2) the average property emits.According to the developer, a typical residence...
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