With house prices remaining high in St Albans and other parts of Hertfordshire relative to other parts of the country Amy Kadir reviews the recent Zoopla survey results and recommends home buyers consider re-mortgaging to take advantage of the most suitable mortgage products.
Recent figures from Zoopla show that although the number of million pound properties has fallen overall throughout the United Kingdom in 2018, homes in St Albans are still in the most expensive top 5 postcodes.
In London and the south east the number of million pound houses decreased during the year which could be a function of the stamp duty changes that has increased the cost of buying properties in the upper price bands. However, in other parts of the country for example the East of England and the West Midlands the number of million pound houses has increased. In St Albans 4,889 homes were valued at over £1 million pounds which compares with 2,373 property millionaires in Wales. St Albans is in the top five post codes for million pound houses, behind Guilford, Cambridge and Seven Oaks.
‘Once again the Zoopla Survey results show that St Albans is one of the most expensive places to live in the country. This is why St Albans is also a top spot for house extensions. We work with many clients who are looking to add to their mortgage in order to make home improvements rather than move house.’
if your mortgage rate is coming to an end or you need funds for a house extension we recommend you get mortgage advice. Our Lonsdale mortgage brokers can review your financial situation and we will recommend the best mortgage product for you. We can advise on fixed rate mortgages, variable mortgages, tracker mortgages, capped mortgages or discount mortgages. As we are independent mortgage brokers we can offer you a range of products from different providers. We work with a variety of clients including first time buyers, homeowners moving house, buy-to-let investors and anyone looking to re-mortgage. For more information contact our Lonsdale Mortgage brokers on 01727 845500 or complete our booking form.’
"As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments."