Norwich and Peterborough home loans on terraces rise
www.moneynews.co.uk > Loans > Norwich and Peterborough home loans on terraces rise
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Money News |
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Norwich and Peterborough home loans on terraces rise
Wed 4th Jan 2006
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The news spurred the building society to say that "homebuyers opt for the terraces" as home loans on detached properties were reduced by 2.25 per cent over the same period.
However, detached is still the most popular choice for Norwich and Peterborough home loans buyers.
Paul Rippon, head of banking and mortgage operations, said: "Terraced properties continued to make a comeback in 2005.
"The number of loans on this type of property, the 'Coronation Street' type terraced house, increased by nearly two per cent in 2004 and again in 2005."
The popularity of Norwich and Peterborough home loans for terraced houses could also partly be explained by this type of property remaining "relatively affordable", he added.
Norwich and Peterborough, a leading mutual independent financial adviser in the east of England, is the 14th largest building society in the UK according to asset size.
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