Forced to sell up to pay off interest only mortgages

Forced to sell up to pay off interest only mortgages

There has been a sharp rise in the number of homeowners forced to sell their homes to pay off interest only mortgages. New research from Key Partnerships has revealed that 43% or estate agents have seen a rise in ‘forced’ sales over the last two years.

Average UK house price £12,000 up on last year

Average UK house price £12,000 up on last year

The average UK house price has risen by £12,000 year on year and the cost of renting is up by 1.8%. The Office for National Statistics (ONS) says a typical home in the UK is now £220,100, a rise of £3,500 on the previous month and affordability is the biggest concern for renters.