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Homeowners spend more than £40bn on home improvements

According to the NAEA Propertymark, over the past five years, British homeowners have spent £41bn on home improvements. The research from NAEA Propertymark also found that 1 in 10 homeowners carried out improvements because the cost of moving was too high. And, a quarter thought that home improvements would be a good investment and increase the value of their property*.

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Lighting can add value to your house

According to the latest Lighting Guide from our friends at Light My Space, good lighting can increase the value of your property*. In fact, estate agents, garden designers and property experts place outside lighting as fourth in a list of garden features that significantly add value to a property, with 66% believing good outside lighting adds value**.

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ARCHIVE: Not switching mortgage provider could cost you

According to Citizens Advice, being loyal to your mortgage provider could cost you over £400 a year. The charity found that, those who didn’t switch mortgage provider and stayed on their current lender’s standard variable rate faced an average loyalty penalty of £439 a year*. Their research also found that, First Time Buyers, who typically have more debt and more time left on their mortgage, paid an extra £1,359 a year when their fixed deals expired.

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ARCHIVE: House prices bounce back

Latest findings from the Nationwide house price index show that UK house prices have bounced back in June. This follows three months where house prices fell slightly. The latest Nationwide index reveals that, in June, house prices grew by 1.1% on the previous month, while annual house prices rose by 3.1% taking the average house price to £211,301*.

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ARCHIVE: Mortgage lending remains strong

Latest figures from the Bank of England have showed that mortgage lending during recent months has remained robust. In fact, during May, mortgage lending was £3.5 billion which is slightly higher than its recent average. The figures show that the number of mortgage approvals for house purchases was pretty much static at 65,502. However, growth has come from the remortgage market with approvals increasing slightly to 42,955*.

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ARCHIVE: Number of people remortgaging up year on year

According to figures from the BBA, the number of people remortgaging their properties rose by 15.7% year on year to January 2017. BBA claim that the rise in people remortgaging can be attributed to the low interest rates with people taking advantage of the competitive mortgage offers. This was reported in the Mortgage Introducer during February*.

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