Stamp Duty on an average priced property in London is 356 times higher than an average priced property in East Midlands, according to analysis from Coventry Building Society. The mortgage provider said while the average Stamp Duty bill in London is much higher than East Midlands, the average property price is only
Stamp Duty on an average priced property in London is 356 times higher than an average priced property in East Midlands, according to analysis from Coventry Building Society. The mortgage provider said while the average Stamp Duty bill in London is much higher than East Midlands, the average property price is only
EXCLUSIVE: Despite their reputation for seeming complicated, offset mortgages are actually quite simple , an expert has said, and can help people pay off their loans much quicker.
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“It’s vital they avoid falling onto a reversion rate and paying more when there are other options available.
“COVID-19 may have dampened the confidence of a large number of borrowers wanting to lock into a new rate, yet the cost of not exploring their refinance options could be significant.
“Even for those borrowers who have seen a reduction in income, there may well be products available that would save them money in the long term when compared to their lender’s SVR.”
Some 52 percent of borrowers who have seen their income reduced as a result of the ongoing crisis are now concerned lenders will scrutinise their finances in more depth compared to pre-COVID levels.
| UPDATED: 14:30, Tue, Mar 9, 2021
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Mortgage figures were released by the Bank of England today, in the Mortgage Lenders and Administrators Statistics for the fourth quarter of 2020. The data showed a surprising amount of resilience within the mortgage scene.