Borrowing in the UK is up, with net mortgage borrowing £11.8bn in March of this year. This is the largest amount seen since borrowing first started to be tracked back in 1993. In fact, borrowing even soared past the previous record, set in October 2006, when £10.4bn was borrowed against properties.
Did you know that increasing the value of your home makes you eligible for a cheaper mortgage deal? Or that increasing the value of your home actually could shave up to 0.5% off your interest rate?
Cilla Black might not be around to say it any more, but ‘Surprise Surprise!’... or rather, not. You guessed it, official housing data revealed once again this week that, thanks to decades of mismanagement by successive governments, the country still isn’t building enough homes.
All the major house price indices agree on two main things: firstly, London has stalled after the stupendous price growth of recent years, and secondly, the sheer lack of supply means prices can only fall so far.