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.
Bank of England cuts base rate
Last week saw the Bank of England cut Base Rate for the first time in over 7 years, to a historic low of just 0.25%.
The move follows months of speculation, and mortgage-holders will now be keen to find out what it means for them financially.
Most borrowers with an existing tracker mortgage linked to the base rate should see the full 0.25% cut passed on to them, and a drop in their monthly payments as a result.
It is worth checking the small print however, as some lenders have applied a ‘collar’ which would prevent the payable rate from falling below a certain level.
Homeowners currently on a Standard Variable Rate may have to wait a little longer to see what their lender will do, and there are no guarantees that the full cut will be passed on.
Many will be tempted to wait and see what their lender will do over the coming weeks. Rather than settling for a small drop in their rate however, it makes sense to review the market and find out what other options are available.
There are much lower rates to be found and the savings will be far more significant.
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