Sep
24
Mortgages Back in Fashion for London’s Priciest Homes
By-
74% of high-priced London homes are bought using loans
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Rising values and taxes are behind the jump in finance take-up
More home buyers are resorting to mortgages to purchase London’s most expensive houses and apartments as rising prices drag them into higher tax brackets.
Seventy-four percent of homes costing 1 million pounds ($1.4 million) or more in the U.K. capital were bought with a mortgage in the three months through July, up from 65 percent a year earlier, according to Hamptons International. The figure was as low as 31 percent during the depths of the financial crisis in 2009…
Mortgages Back in Fashion for London’s Priciest Homes
