20th Oct '08 - People 'Should Buy Property and Land Now'
Posted on Monday, October 20th, 2008 at 1:25pm
Those considering using a homeowner loan to buy land or a house may be wise to invest their money this way, after it is claimed the construction and property industries could well prosper within the next few years.
"You could argue you could negotiate some really good deals given the weaknesses in the current market, as you're not going to have much competition," says Selwyn Lim, director at Mouseprice.
And people wondering which houses are currently the most affordable for a loan could consult Mouseprice's index, which shows that Oxford Street, South Elmsall, in Yorkshire and the Humber, has a 2008 average house price of £25,600.
In second place is Tower Green in Middlesbrough, which stands at £27, 400, while another North East residence - Warwick Street, South Bank - comes in third with an average house price of £28,000, Mouseprice states.
People considering such investments may want to finance them with secured loans, which could have a lower annual percentage rate than other loans because the lender may be given security against another property.
"You could argue you could negotiate some really good deals given the weaknesses in the current market, as you're not going to have much competition," says Selwyn Lim, director at Mouseprice.
And people wondering which houses are currently the most affordable for a loan could consult Mouseprice's index, which shows that Oxford Street, South Elmsall, in Yorkshire and the Humber, has a 2008 average house price of £25,600.
In second place is Tower Green in Middlesbrough, which stands at £27, 400, while another North East residence - Warwick Street, South Bank - comes in third with an average house price of £28,000, Mouseprice states.
People considering such investments may want to finance them with secured loans, which could have a lower annual percentage rate than other loans because the lender may be given security against another property.
Bookmark with:
RSS Feed