Post Office mortgages highlights ocean view premium

Date:Tuesday 31st August 2010
Author: Max Freedman

A new report by Post Office mortgages shows that a view of the sea can be particularly important for many consumers, who are willing to pay extra for the pleasure.

Marco Hughes, director of personal lending at the firm, pointed out that the over-35s are less willing to compromise on the location of their property, since they will often want to raise their families in the house they buy.

The Post Office Mortgages Homebuyers Report indicates that coastal properties are more than £20,000 more expensive than equivalent in-land homes, yet there is still plenty of demand for such places.

"Our new Homebuyers Report shows that when it comes to location, homeowners are certainly prepared to shell out for an ocean view," added Mr Hughes.

Recently, the Post Office announced that it had dropped the interest rate on several of its home finance arrangements, including two, three and five year fixed-rate deals and certain tracker propositions.