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Home buyers paying a premium to live near good schools

Parents in England are paying an extra £41,000 to purchase homes near good secondary schools. This is according to latest research from Lloyds Bank which was reported in the Financial Times*.

The figures from Lloyds found that, around the 30 highest performing state schools in England, home buyers are spending £125,000 more than the local average. In areas close to the top performing schools, the average house price was 9.2 times higher than elsewhere.

What this means for home buyers

Adam Nanson Managing Director of Your Mortgage Expert in Salisbury comments:

“If you are a looking to purchase a home near to a high performing school, you might find you’re paying more than you’d expect for that property and you might find the market fiercely competitive.

“As such, it’s really important for those home buyers to get the most appropriate mortgage deal available in order to save money on their monthly expenses. It is also vital that, when they put their offer in on a competitive property that they understand exactly what they can afford and what their maximum budget is.

How Your Mortgage Expert can help

Your Mortgage Expert is across the market and independent which means we know all the current deals and can make the most suitable recommendation for you based on your circumstances. Some of the deals may only be available through independent advisers. So whether you’re looking for a fixed rate, variable rate or you’re a First Time Buyer, Your Mortgage Expert can review your circumstances and give you the most appropriate mortgage rate advice based on your affordability.

To speak to Adam Nanson about your next mortgage, ring him now on 01722 322683 or complete a contact us form and let him know when he can call you back.

We don’t charge for an initial consultation, so by speaking with us, you won’t be under any obligation. To find out more about our services and how we operate, visit our about us section.

The information contained within this article was correct at the time of publication. It is intended for information only and does not constitute advice. TenetLime cannot be held responsible for information that was correct at the time of publication but subsequently changes or goes out of date due to changes in legislation. For further information, contact Your Mortgage Expert on 01722 322683.

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

* source: http://www.ft.com/cms/s/0/e208975a-5258-11e5-b029-b9d50a74fd14.html#axzz3kyGvlt7h 4th September 2015

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