An estimated third of employees spend at least some of their week working from home with high speed broadband rising up the criteria list for new house buyers. Evidence suggests that broadband speeds could affect the price that buyers end up paying for their next move.
An analysis of average house prices and broadband download speeds by local authority reveals that buyers spend, on average, 17% more for properties in areas with superfast broadband compared to areas where average speeds are less than 25 Mbps.
Some of this will be related to where broadband providers have historically focused their investment, ie, in more affluent areas, but with the major providers increasing their coverage, this effect will become more diluted. Indeed, the Government has committed to provide superfast broadband (at least 24Mbps) to at least 95% of UK premises.
There are a myriad of factors that affect local property prices but the influence of broadband speeds should not be underestimated with its importance to buyers set to continue to increase.
We would like to take this opportunity to thank you
for your continued support which has made 2017
such a successful year
and we look forward to working with you
in 2018 and beyond.
After months of hard work, our new website finally went live over the weekend and is looking fantastic! Why not have a good look around and see what amazing new features and information are included.
Our new banner has arrived today ready for tonight, and it looks great!! We are proudly sponsoring the Pink Wig event which is part of Falmouth Week and raises funds for vital research projects, the best care for breast cancer patients in Cornwall and a safer future for the next generation.
Ten-year fixed rates
There has been good news for borrowers over recent weeks, as lenders have responded to falling funding costs by launching some record-low 10 year fixed rates.
Products that lock borrowers in for that length of time have not always proved popular, but the gap in margin between interest rates for 5 and 10 year deals has reduced significantly.
Certainly the prospect of protecting your mortgage payments for the next 10 years at a record low rate will be attractive to many, particularly in such uncertain times.
Borrowers need to be aware however that the majority of long term deals carry Early Repayment Charges for the length of the fixed period.
It is important therefore to consider any changes in circumstances that could occur over the next decade, and whether more flexibility is needed.
This type of deal is not suitable for everyone, but for the right person it could provide peace of mind for the foreseeable future.
Guild Mortgage Service, Provided by London & Country Mortgages
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