Waterside Properties: Buyers look to take out mortgages on coastal homes

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Waterside Properties: Buyers look to take out mortgages on coastal homes

Wed 18th Aug 2010

Fixed rate mortgages could be in demand after Waterside Properties reported high demand for homes in coastal areas.

According to the company, many of these prospective buyers are looking to purchase for lifestyle reasons.

However, it noted that while interest in buying in areas such as the south coast remains high, some people are having trouble freeing up the necessary capital.

Peter Halliday, managing director of Waterside Properties, commented: "What they are finding more difficult to do than previously is to sell their main property."

He added that in the last two years, there has been no upward pressure on property values in coastal areas.

Despite this, he said house prices in seaside towns and cities have not declined and have been "holding their own" throughout this period.

Mr Halliday was speaking after a report by Halifax revealed that the seaside towns of Bridlington, Hornsea and Withernsea offer good value and a good quality of life at the same time.

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