Decent time for first-time buyers
Homeowners planning to invest in a new bespoke conservatory or other home improvement to make their house more attractive to future buyers may be interested in the latest comments from MyMortgageDirect.
The firm suggested that the financial advantages of buying a property over renting one are not as straightforward as has been claimed.
According to Santander Mortgages, most potential first-time buyers will be better off investing in their own property rather than paying to live in someone else's.
Average monthly rental prices now exceed mortgage payments in every part of the country except London, it claimed.
MyMortgageDirect director Stuart Inman said that it is a decent time to buy, assuming you have a sizable deposit.
"The mortgage rates for people with lower deposits - in other words, less than 15 per cent - are still quite high compared to where the Bank of England base rates are," he added.
Posted by Ashley Ault
House prices rise year-on-year
Homeowners considering whether to extend their house with a home improvement such as a bespoke conservatory or move to a larger property may be interested in the latest figures from Communities and Local Government.According to the...
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