Staying put
Are you one of the 2.5 million households in the UK who have been forced to stay put in their present home by the recession? You are in good company, around a quarter of householders in the country would have trouble paying their next mortgage if they moved. This has caused a log jam of buyers, the number of buyers to sellers is now around 1 to 5.
Moving up the property ladder has been one of ways of saving for the future that many in the UK have relied upon in the the years 1997 to 2007, finding a stablity in the market and ready finance many people in the UK we have become used to moving house as a way of consolidation rather than of a change in circumstances.
With the mortgage rate staying on 0.5% for the eighth month running you could be forgiven staying put, the announcement came last week from the Bank of England as seems to be part of the governments tactics of spending their way out of the recession.