People “pessimistic” about property prices

Over a tenth of Britons are “pessimistic” about the prospect of house values rising again in the near future, according to a new poll.

A survey carried out by first direct has discovered that 16 per cent of those questioned do not feel that property prices will increase until 2012.

The firm noted that many owners are looking for the right time to move up the housing ladder, with some watching developments in the sector with an “eagle eye” to identify the right moment in which to make a move.

Jimmy Kelly, a spokesperson for first direct, recommended that people take out an offset home loan, which can act as a “savings option” for some borrowers.

He added: “Swapping to an offset mortgage could cut down the length of a £100,000, 25-year mortgage by almost three years and save £18,322 in interest payments.”

Elsewhere, Peter O’Donovan of Bestinvest has hailed the re-emergence of mortgages with higher loan-values as good news.

Leave a Reply

Your email address will not be published. Required fields are marked *