Do you live near a Waitrose? If so, your house could be worth nearly £40,000 more!
Research from Lloyds Bank has shown that living near a Waitrose could add £38,666 to the price of your property. This was reported on the What Mortgage website in July.*
In addition to Waitrose, living near other supermarket brands can also boost house prices by around £22,000 the research also showed. Properties near a Sainsbury’s, Marks and Spencer, Tesco or Iceland also command higher house price premiums**.
What this means to home owners and home buyers
Adam Nanson, Managing Director of Your Mortgage Expert
“It doesn’t surprise me that houses near premium brand supermarkets are worth more. This is precisely the reason that supermarkets like Waitrose and Marks and Spencer choose to come to certain areas, because of the levels of affluence.
“But it’s great to know that people would be more likely to choose a property from an area with high-end supermarkets because the area is thought to be more up market. In Salisbury, where Your Mortgage Expert is based, we are fortunate enough to have a Waitrose, Marks and Spencer and Sainsbury’s and house prices are rising and the housing market is really strong here.
How Your Mortgage Expert can help
Adam Nanson from Your Mortgage Expert continues:
“If you are looking to purchase a property in an area where there are high premiums and high demand is more vital than ever that home movers and home buyers understand their budget prior to commencing their house hunt. This will help them look at appropriate properties that reflect their affordability.
“A Mortgage Broker such as Your Mortgage Expert, will review your circumstances and give you the most appropriate mortgage rate advice for your affordability. They will also help you secure an agreement in principle which is a useful thing to have prior to commencing negotiations.
“Your Mortgage Expert is 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.”
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.
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