Over 3.5m homeowners 'not in a position to move'

A number of homeowners An expert has suggested that over three million homeowners in the UK may not be in a position to move.Over three million homeowners in the UK may not be in a position to move, it has been claimed.

In comments which suggest many will be consider renovation work to boost the value of their properties in the future, Ray Boulger, senior technical manager at mortgage adviser John Charcol, said 3.5 million property owners may have to stay put in their homes due to mortgage issues.

He explained that such people will either be on sub-prime or self-cert mortgages, while others may not have enough available equity.

"A number of people have been saying that the reason prices have been going up is because there's not much stock on the market, but what that overlooks is that the reason there is not a lot of stock on the market is partly because a lot of people can't move," he added.

Recent figures from HSBC suggested that the addition of new UPVC windows to a home can add over £4,000 on to its value.
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Article Added: 12/08/2009 15:26:04

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