View more on these topics

One in four transactions were valued at over than £250k in 2012

Properties purchased above £250,000 accounted for one in four transactions in 2012, according to research from Halifax Intermediaries.

Mortgage applications for properties sold above £250,000 rose by 9 per cent, from 134,800 in 2011 to 147,300 and have risen by 28 per cent since 2009, according to CML figures.

Halifax Intermediaries head of sales Ian Wilson says: “It is no surprise that a large proportion of purchases above £250,000 are in Greater London and the South East. Traditionally we generally see a spike in clients reviewing their finances in the first quarter of the year, with this year being no exception.

“High value mortgages can be quite complex, with borrowers having multi-faceted  income streams, with bonuses, business profits and investment income often forming part of the overall income picture.  Due to the nature of these types of cases, lenders need to be flexible and understanding of the requirements of brokers and their clients and provide a knowledgeable specialist team to support them.”

The highest proportion – 59 per cent – of these properties were located in Greater London, followed by South East. The number of properties valued at over £250,000 rose from 39,900 to 44,900 in Greater London and from 45,600 to 50,200 in the South East.

The North of England has the smallest concentration, accounting for just 9 per cent of properties in this value band.



Shock treatment

Chancellor George Osborne plans to give the BoE power to split banks if they fail to ringfence their retail arms from their investment businesses and this ‘electrification’ could have serious knock-on effects for the mortgage market

Repossessions due to finance trouble see dip

The number of homes which owners were forced to give up due to financial pressures fell by 54 per cent between 2010 and 2012 compared with the period running from 2005 to 2009. Castle Trust has analysed the latest ONS English Housing Survey and found fewer than 12,000 homes a year were given up as […]

Now more than ever, we need to back the small developer

In the context of the current housing deficit, the latest housebuilding stats aren’t great. But what does doing better look like? The Department for Communities & Local Government published its latest figures at the end of August, which revealed that housebuilding starts in England rose 2 per cent in Q2 compared to the previous quarter […]


News and expert analysis straight to your inbox

Sign up