London property market in ‘brickor mortis’
News emerges that ‘brickor mortis’ is still paralysing the London property market, reports ThisIsMoney.co.uk.
With sellers holding out for the best deal and buyers struggling to get the right mortgage deal, some homes are staying on the market for more than three months.
Overall, the number of ’stale’ properties on the market in the capital has increased by a massive 20 per cent since January this year.
It could be that opting for the best remortgage deal to see out the storm, rather than selling up, could be the best option for many. With many banks and building societies slashing rates on fixed rate and other remortgages, there are good deals to be had: especially for those with a reasonable chunk of equity in their property.
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