UK homeowners can reduce monthly mortgage payments to £330 for 5 years by downsizing to smaller properties, study finds.
UK homeowners can reduce their monthly mortgage payments to £330 for the next five years by downsizing to smaller properties, a study by Equity Release and Mortgage Partnership reveals. The study compared different property types to find the best places to downsize, taking Stamp Duty Land Tax into account. By downsizing from a detached house to a semi-detached, the average money released is £214,757.
April 13, 2024
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