Sep
21
London’s Million-Pound Homes Push More Buyers Into Mortgages
By-
74% of high-priced London homes are bought using loans
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Rising values and taxes are behind the jump in finance take-up
More home buyers are resorting to mortgages to purchase London’s most expensive houses and apartments as rising prices drag them into higher tax brackets.
Seventy-four percent of homes costing 1 million pounds ($1.3 million) or more in the U.K. capital were bought with a mortgage in the three months through July, up from 65 percent a year earlier, according to Hamptons International. The figure was as low as 31 percent during the depths of the financial crisis in 2009…
London’s Million-Pound Homes Push More Buyers Into Mortgages
