A lack of suitable housing to buy is the biggest hurdle
for people looking to sell-up and move home, following by stamp duty and
mortgage costs. According to the
Nottingham Building Society (NBS), 11% of mortgage customers – equivalent to
around 1.2 million homeowners – have given up plans to move house in the past
three years due to financial issues including mortgages. The cost of stamp duty
stopped around one in 12 homeowners (8%) while 3% of owners – around 327,000
people – were turned down for mortgages. Younger home movers – those aged
between 18 and 44 – were most likely to be put off by the cost of stamp duty –
around 14% who had given up buying blamed stamp duty. Read more on Housing
Excellence.
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