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The IndependentThe truth about housing wealth is that most of us didn't earn itThe IndependentOne statistic in a new Resolution Foundation report on UK wealth estimates that around 80 per cent of net property wealth growth since the early 1990s has been a consequence of rising housing market, rather than active saving decisions by households.
Property CommunitySometimes it's best to sit back and do nothingProperty CommunityOver the last 12 months there have been some monumental changes in the UK political arena with many more expected in the short to medium term. The UK economy has held up fairly well during these difficult times as has the UK property market. There may ...and more »
Telegraph.co.ukWoman forced to squat in her own Barcelona flat after 'fake tenant' lists property on AirbnbTelegraph.co.ukA Barcelona woman has become a squatter in her own home after finding out that her tenant was using the tourism rental website Airbnb to illegally sublet the flat in the city's fashionable Barceloneta area. Montse Pérez saw the ad for her bijou ...
AOL UKAdults returning to 'Bank of Mum and Dad' to help them ascend ...The IndependentA third of home buyers moving to their second home expect to go cap in hand to those around them to borrow more than £21200, despite half of those having ...People taking second step on property ladder 'still rely on bank of ...AOL UKall 2 news articles »
AOL UKAdults returning to 'Bank of Mum and Dad' to help them ascend second step on property ladderThe IndependentIn that time the average UK property price has risen by more than 40 per cent, the equivalent of £60,000. In hotspots like Cambridge, prices have doubled in that time and in the capital, the average property has broken through the £500,000 barrier ...People taking second step on property ladder 'still rely on bank of mum and dad'AOL UKall 2 news articles »
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My partner and I have our property on the market and have seen a house we really love.

Hi Martin
My partner and I have our property on the market and have seen a house we really love. It will also mean decreasing our mortgage significantly if we manage to get it. We have 2 options: we can either wait until we sell our property and transfer our mortgage over on a standard variable rate (and risk losing the property to someone else) or borrow the deposit for the new house from family and secure it but that means our new mortgage will be fixed for 3 years @ 5.99%.
Do you have any advice for us? I imagine that interest rates will rise shortly and it may be a good time to fix but do you think that 5.99% is high?

Many thanks

Jayne

The mortgage market is an ever-0changing beast! Why don't you keep both houses, remortgage the fist on a buy to let, hopefully releasing funds to pay back the deposit, and rent it out your firsdt hosue as a long term income generator`? Depends on rents in your area. It will need to cover mortgage paymet + 25%.

 

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