Santander mortgages highlights importance of home as an investment

Date:Friday 9th July 2010
Author: Max Freedman

It is important to see property as an investment as well as a place to live, according to one expert at Santander mortgages.

Phil Cliff, director of mortgages at the organisation, suggested that - for a long time now - people have treated their home as their "castle", but homeowners must also consider its value.

These comments follow research by Santander mortgages, which indicated that Britain has seen a 393 per cent increase in 'property millionaires', whose homes are worth more than £1 million.

Mr Cliff said: "Whether you're a property millionaire or not, prospective buyers and those remortgaging need to ensure they get a fair deal on their house and mortgage."

He stated that the company has a comprehensive range of mortgages to suit large and small properties.

This week, Santander revealed that it had cut the interest rates on several fixed-rate mortgages by up to 0.2 per cent.