Property News · March 9, 2016

A third of £1m-plus homes paid for in cash since 2011, study shows


Retirement lending advisory firm says cash buyers spent more than £63bn in total on such properties in England and WalesAbout a third of homes sold for £1m or more have been paid for in just cash in the last five years, as property millionaires splashed out more than £63bn, according to research.Analysis of Land Registry data from retirement lending advisory firm Bower Private Clients (BPC) is further evidence of the widening gap between the housing haves and have-nots. It says that more than 7,200 properties in this price bracket are being bought a year without a mortgage. Continue reading…

Source : theguardian.com
Read more…A third of £1m-plus homes paid for in cash since 2011, study shows

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