Market Trend: House prices continue to rise

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Ever since February 2009, house prices in the UK have continued to rise. Many experts claim the demand for houses has far exceeded supply, leading to month-on-month growth – with August’s growth level said to be 1.6%. Nationwide claim there has been growth of 3.2% since the start of the year – with growth expected to continue long into the new year.

A property worth £300,000 at the start of the year would now be worth £309,600. If the current monthly trend continued one would expect that property to be worth £335,173 by December. Not only does this allow homeowners to release more equity from their property – it also opens up equity release as an option for those with larger mortgages that they would like to clear from their property – an ever increasing trend given that equity release requires no monthly repayments.

Responsible Equity Release is a trading style of Responsible Life Limited. Responsible Life Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (https://register.fca.org.uk/) under reference 610205. Only if you choose to proceed and your case completes will Responsible Life Limited charge an advice fee, currently not exceeding £1,490. A lifetime mortgage may affect the value of your estate and your entitlement to means-tested state benefits. Our adviser will talk you through this and the setting up costs before you make any decision to proceed.


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