MORTGAGES GO GREEN
Environmentally friendly mortgage loans are set to increase as the government pledges £5m as part of its Green Finance Strategy. Money from the Green Home Finance Innovation Fund is to help the financial services industry offer more green mortgages. The perks of a green mortgage can include a cut in the rate for customers who upgrade the energy rating on their home.
An increase in the average price of houses across England, contrasted with a fall of 2.7% in flats and maisonettes, has been revealed by recent statistics from the Land Registry. Reasons include a distrust of leasehold properties, making first-time buyers prefer to rent a leasehold apartment, while saving a larger deposit and making a freehold house their first purchase.
KEEPING UP TO SPEED
With fast broadband now considered a necessity rather than a luxury, slow internet connection can cut a significant amount off the value of a home. Some buyers rate broadband speed to be as important as local schools and transport links and not necessarily just because of working from home. Day-to-day web activities are all making fast connection a requirement for a house purchase to proceed.
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.