Do you think you know how much your home is really worth? Would you be surprised if it was worth much more or much less?
Many homeowners’ estimates don’t live up to reality, with 45% of respondents to a recent survey1 undervaluing their property and 25% overestimating its worth. Under a third were correct. Those who underestimated, did so by £46,305 on average, while those who overvalued thought their property was worth £44,313 more. Combining all responses, homeowners were shown to be underestimating the value of their properties by £9,470 on average, £237bn collectively.
Understanding your property’s value may have a significant impact on your life. Of those who sold their home after taking the survey, 81% said their unexpected windfall had enabled them to improve their lifestyle.
Catch up on our other blog posts:
Saving for a deposit has been cited as a major barrier to purchasing a home by 59% of people, according to the latest survey from the Building Societies Association (BSA)1. Climbing from 54% in December last year and just 40% last June, raising a deposit is currently...
There's a widespread belief that insurance is extremely expensive – but it doesn’t have to be. Perhaps the myth comes from the fact that many celebrities have insured parts of their body for astronomical sums? For example: Julia Roberts’s smile is reportedly insured...
Each year, we spend thousands on insurance, from our health and homes to our holidays, pets and cars. What would happen to that money spent on safeguarding if the insurer were to fail? For peace of mind, the Financial Service Compensation Scheme (FSCS) advises three...
(Your home may be repossessed if you do not keep up repayments on your mortgage)
We charge a fee for arranging and advising you on the mortgage. The fee will be dependent on your circumstances but will not exceed £499. (Our typical fee is £299.)
For Lifetime Mortgages/Equity Release the fee will be £799.
Our mission is to provide honest mortgage advice, whilst helping you save money.
Get in contact
Or call —02380224925