The most recent shift in the worrying ebb and flow of the UK economy has seen the number of home repossessions fall even further in the UK, the second time this year. According to the Council of Mortgage Lenders (CML) 9,400 properties were seized in April, May and June, down by 10% on those seized in the first quarter of the year. While this does sound like good news for homeowners across the land, the future is not certain to follow this trend. A rise in interest rates and unemployment may well lead to an increase in home repossessions by the end of the year. However, despite this, CML have revised their forecast that 53,000 homes would be repossessed this year down to just 39,000. Also, it seems that about 50% of these repossessions end up being suspended by the courts to give homeowners time to pay.
So now that you know that your home is much less likely to be repossessed than a year ago, why not celebrate by making a significant addition to your home, not only for your enjoyment, but to increase the value of your home.
If your home just isn’t big enough and you have a glorious Conservatory already, you will be happy to hear that mortgage lending has picked up as well. The CML have called the rise as “significant”, as lending is up 14% compared with the same month last year. Now while the number of people buying houses and number of mortgages being lent are still half of what it was back in 2007, this trend means that people looking to move home can feel a whole lot more confident that their dreams can become a reality at last.
Ideal Windows and Conservatories is just the sort of company homeowners and homebuyers need to help them spruce up their home for selling and for making their new home into a dream home. Get the most you can for your old home by installing double glazing or even UPVC windows throughout or converting your rusty old garage into a jaw dropping home cinema. Or if you’re buying, you can look at a tumbled down old house and feel confident that Ideal Windows and conservatories can come in at any stage and assist you with designs and planning permission for any additions or improvements you want to make to your new home.