The trade association UK Finance has revealed that credit card borrowing rose by 7.8% in 2017 compared to 2016.
The annual growth in (more…)
The trade association UK Finance has revealed that credit card borrowing rose by 7.8% in 2017 compared to 2016.
The annual growth in (more…)
The Office for National Statistics has announced that the British economy grew by 0.3% at the start of 2017 compared to a (more…)
For the second time in three months, the International Monetary Fund (IMF) has revised its forecast of UK growth and (more…)
According to the Office for National Statistics, home prices in the Wirral have increased by 6% over the last year.
The average home in the Wirral area is now worth £152,416, which is almost £9,000 higher than a year ago.
The average house price rise in the UK over the last year is 5.8% which makes the Wirral area slightly above the national average.
House prices on the peninsula are still some way behind those in London, where the average home costs £475,000. In the London boroughs of Kensington and Chelsea, the average house costs a huge £1.4m.
The house price rise is good news for Wirral residents who already own their own home, but means that people who want to buy their first home will need to save longer for a deposit.
Fortunately for first-time buyers in the Wirral area, there are affordable housing schemes for both new and old properties which allow houses to be purchased at below market prices.
If you own your home, you can take advantage of your house price rise by remortgaging the property. This can be done to release equity tied up in your home, or you can remortgage for a mortgage at lower interest rate in order to reduce your mortgage payments. There are also lifetime mortgages and home reversion schemes that enable you to access the money tied up in your house.
For help about all types of property finance, talk to Endeavour Financial Planning – your first choice for independent financial advisors based in the Wirral.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Sources used: http://www.wirralglobe.co.uk/news/15219502.Official_figures_show_house_prices_have_risen_by_6__in_Wirral/ https://www.moneyadviceservice.org.uk/en/articles/equity-release http://www.ownplace.org/affordable-housing-scheme/
There are a number of projects being developed in the waterside area of Wirral that aim to revitalise the local economy and create hundreds of new jobs.
The MEA Park will be (more…)
UK savers are being hit again, as rising inflation reaches its highest point in two years at 1.6%, from 1.2% in November.
Last month, the (more…)