Consumers may take out a Halifax fixed rate mortgage 'to undertake a project'
www.moneynews.co.uk > Mortgages > Consumers may take out a Halifax fixed rate mortgage 'to undertake a project'
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Consumers may take out a Halifax fixed rate mortgage 'to undertake a project'
Tue 31st Aug 2010
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Stephen Noakes, commercial director of mortgages at the firm, explained that people are happy to knock down walls and convert spaces in order to achieve their ideal home as a result of their own efforts.
The study by Halifax noted that just 19 per cent of consumers surveyed want to move to a property that does not require any work at all.
Mr Noakes remarked: "There's often a difference between the dream home and the reality of more traditional properties on the market but now, more than ever, people are willing to take on their own project."
This month, Halifax published research indicating that affordability is stopping many first-time buyers from getting on the property ladder, despite mortgage payments - as a percentage of income - being at nearly half what they were in 2007.
Click here for more mortgages news
Related News : Mortgages |
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Related News : Halifax |
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