100,000 homeowners uproot to escape the neighbours

A news study from Abbey Mortgages suggests that 95,000 homeowners have moved home as a result of irritating neighbours in last two years.

Council of Mortgage Lender figures show that a total of 680,000 mortgage holders have moved in the last two years, with the most common reasons being the desire to get higher up the ‘housing ladder’ (1 in 3 movers) and the need for more room (1 in 5).

Almost 217,000 people were motivated to move in order to climb up the property ladder, 102,000 to downsize and 108,000 because they had found their dream home.

But 40,800 people were motivated to move in order to get into their preferred school’s catchment area, the survey suggests, and financial difficulties pushed 6,800 into selling up and moving to a cheaper abode.

Nici Audhlam-Gardiner, Director of Abbey Mortgages, commented: “The saying “love thy neighbour” seems long forgotten as so many of us plan to move each year just to get away from those next door.

“Despite this, people are still moving for positive reasons such as the desire to move up the property ladder or as a result of their dream home coming on to the market. We have seen a fifty per cent increase in the number of people applying for mortgages to buy a new home in recent months compared to the average monthly applications for purchase mortgages for the first half of the year.”

“To help those looking to move, we have some excellent tracker deals starting at 2.69 per cent and fixed rate deals available from 3.78 per cent. There is also a 90 per cent LTV first time buyer specials at 5.99 per cent with a £495 fee and lower rates and fee- free deals for our existing current account customers starting from 3.89 per cent for a 2-year fix 75 per cent LTV and a 3-year tracker at 2.99 per cent and 75 per cent LTV.”

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