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First Choice Finance - Mortgage BrokerCompare Home Owner Loans


Number of home movers static in 2015

Number of home movers static in 2015

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Video transcript

The number of home movers across the UK has seen little change during the last full year (2015 at the time of reporting)

This is the conclusion of new data published by Lloyds Bank, which showed that despite stamp duty changes having led to the average home mover saving £5,000 on their duty costs in the last year, the total number of movers was broadly the same as in 2014.

It did remain a positive 12 months for the UK property sector though, with 2015 witnessing a 16 per cent increase in completed transactions in comparison to the bottom of the market in 2009.

Overall, the average price of completed sales in the UK last year was up by one-third in comparison to the start of the decade.

The average price paid by UK home movers stood at approximately £273,000 last year. This compared to the 2010 average of £210,000.

What`s more, the Home Mover Review revealed that the changes to stamp duty that were introduced by the government in December 2014 continue to benefit the vast majority of UK home movers at present.

Responding to the report, Lloyds Bank mortgage director Andrew Mason claimed that the stability that has been witnessed in terms of house mover numbers over the last year can be attributed to a range of factors.

These include the ongoing low base rate of interest that is helping to keep mortgage rates lower than their historic averages, as well as rising real pay growth across the country and a reduction in home mover costs, such as stamp duty.

However, with the relatively stable economic environment that was seen throughout 2015, Mr Mason noted that many people may have expected a significant increase in mover activity, but this was certainly not the case.

The ongoing rise in the average value of properties up and down the country may have had something to do with this, as affordability remains a serious issue for both new entrants to the market and existing owners that are looking to reach their next rung of the UK property ladder.

However, those that purchased at the peak of the housing boom will have welcomed this concerted uplift in value, as it now means many owners will be moving out of a position of negative equity, which could lead to a significant upshift in mover activity in 2016. 

Homeowner Secured Loans
Rates From 7.1% APRC Representative Example £30,000 over 72 months @ £679.90 repayments. Total payable of £49,949. 20.1% APRC including £2,975 intermediary fee and a £995 lender fee. Loans secured on property. First Choice are tied to certain loan providers.

Mortgages & Remortgages
4.5% APRC
Representative Example: Borrow £80,000 over 25 years At 4.6% Variable, £461.95 for 300 months.
Total Payable £138,585. Total Cost Of Credit £58,585 (incl £1360 fee).


Unsecured Personal Loans
REPRESENTATIVE 49.9% APR (VARIABLE)
First Choice are tied to certain unsecured lenders.


THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Security is required on immovable property.



Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home

First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected 2014.


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