By choosing to live just outside highly sought-after locations, analysis has shown that homebuyers could benefit from savings of up to 55%1, without forsaking their preferred location. Average savings come in at around 34% when locating five or ten minutes from a hotspot.
Managing Director of property group Barrows and Forrester, commented on buying outside a hotspot, “There is often a considerable saving to be made that also allows you to easily access and enjoy the same areas as those paying a fair bit more…
“In many cases, this ripple effect often leads to greater demand and an uplift in property values in these surrounding areas… not only will it save you money climbing the ladder now, but you may well find your property has climbed in value by a greater margin when you come to sell.”
1Barrows and Forrester, 2022
Catch up on our other blog posts:
Mrs G & Mrs K had lived in their home for many years. Having now both retired they had looked at downsizing to a more manageable property, freeing up some money in the process to allow them to enjoy retirement. However, their property search was in vain and they...
Mr and Mrs B are existing clients of ours looking to move from their home in Surrey to a larger home in Wiltshire. Their current mortgage had a fantastic fixed rate of 1.42% which they didn't want to lose, especially given the recent market increases we have seen. We...
Mr A was coming to the end of his interest-only mortgage term with Lloyds. His original plan was to sell the property at this point and downsize in order to clear the borrowing. However, plans change and he now wanted to remain in the home for the foreseeable future....
(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