Property news roundup: Third of homeowners won’t repay mortgage until their 60s

Plus, what smells sell, Help to Buy stats, and start now to move before the summer holidays

A third of homeowners with repayment mortgages will not have repaid the loan until they have reached their retirement years.

Of these, nearly one in 20 will be aged over 70 before it is paid off, says the report from mortgage and secured loans broker Ocean Finance.

People living in the East Midlands are most likely to still be paying off the debt when they are over 61 years old (18.7 per cent) while those in the South West are the most likely to have paid off the entire debt, with just 7.8 per cent likely to still be repaying it in their 60s.

Ian Williams, spokesman for Ocean Finance, says: "As the average age of first-time buyers continues to rise, millions are now in a situation where they won’t have finished repaying their mortgage until they’re about to retire.

Move by the summer holidays

Anybody who wants to sell their house and move by the start of the school summer holidays should put their house on the market by 20 March, according to figures from Move with Us and Home.co.uk. They calculate  that the average time it takes to sell a property at the moment is 126 days.

What smells sell well  

White tea and fig is the new way to sell your home successfully. This is the scent house builders Millgate have recently been using (instead of the more traditional coffee and baked bread) in their show homes.

Millgate's Sales & Marketing Director, Johnathan Cranley said: "After extensive testing and consideration, we selected the white tea and fig scent for our homes as the blend creates a soothing, luxurious environment. From its roots in China, white tea is renowned for its health benefits whilst fig exudes a sophisticated yet subtle scent which appeals to our buyers."

Help to Buy drives recovery in mortgage buying in 2014

Help to Buy is the main factor behind a 50 per cent increase in the proportion of properties bought using mortgages in the first two months of 2014, suggests a new Quick Move Now study.

Donna Houguez, Quick Move Now’s market analyst, said: "We are now seeing the true impact of the Help to Buy scheme as successful offers made in the last quarter of 2014 are reaching completion stage.

"Bolstering this is the general mood of optimism in the economy – buyers feel more secure in their employment and are thus willing to take on the financial responsibility of a mortgage. We are also seeing an increase in buy-to-let investors taking advantage of the low interest mortgages available for the time being."

Discover more property articles at Homes and Property
Life and Style
Steve Shaw shows Kate how to get wet behind the ears and how to align her neck
healthSteven Shaw - the 'Buddha of Breaststroke' - applies Alexander Technique to the watery sport
Sport
footballShirt then goes on sale on Gumtree
Voices
Terry Sue-Patt as Benny in the BBC children’s soap ‘Grange Hill’
voicesGrace Dent on Grange Hill and Terry Sue-Patt
Arts and Entertainment
Performers drink tea at the Glastonbury festival in 2010
music
Property search
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Guru Careers: Software Developer / C# Developer

£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...

Guru Careers: Software Developer

£35 - 40k + Benefits: Guru Careers: We are seeking a Software Developer (JavaS...

SThree: Trainee Recruitment Consultant / Resourcer

£18000 - £23000 per annum + Commission: SThree: As a Trainee Recruitment Consu...

Ashdown Group: UI Developer - (UI, HTML, CSS, JavaScript, AngularJS)

£25000 - £40000 per annum: Ashdown Group: UI Developer - (UI, JavaScript, HTML...

Day In a Page

Abuse - and the hell that came afterwards

Abuse - and the hell that follows

James Rhodes on the extraordinary legal battle to publish his memoir
Why we need a 'tranquility map' of England, according to campaigners

It's oh so quiet!

The case for a 'tranquility map' of England
'Timeless fashion': It may be a paradox, but the industry loves it

'Timeless fashion'

It may be a paradox, but the industry loves it
If the West needs a bridge to the 'moderates' inside Isis, maybe we could have done with Osama bin Laden staying alive after all

Could have done with Osama bin Laden staying alive?

Robert Fisk on the Fountainheads of World Evil in 2011 - and 2015
New exhibition celebrates the evolution of swimwear

Evolution of swimwear

From bathing dresses in the twenties to modern bikinis
Sun, sex and an anthropological study: One British academic's summer of hell in Magaluf

Sun, sex and an anthropological study

One academic’s summer of hell in Magaluf
From Shakespeare to Rising Damp... to Vicious

Frances de la Tour's 50-year triumph

'Rising Damp' brought De la Tour such recognition that she could be forgiven if she'd never been able to move on. But at 70, she continues to flourish - and to beguile
'That Whitsun, I was late getting away...'

Ian McMillan on the Whitsun Weddings

This weekend is Whitsun, and while the festival may no longer resonate, Larkin's best-loved poem, lives on - along with the train journey at the heart of it
Kathryn Williams explores the works and influences of Sylvia Plath in a new light

Songs from the bell jar

Kathryn Williams explores the works and influences of Sylvia Plath
How one man's day in high heels showed him that Cannes must change its 'no flats' policy

One man's day in high heels

...showed him that Cannes must change its 'flats' policy
Is a quiet crusade to reform executive pay bearing fruit?

Is a quiet crusade to reform executive pay bearing fruit?

Dominic Rossi of Fidelity says his pressure on business to control rewards is working. But why aren’t other fund managers helping?
The King David Hotel gives precious work to Palestinians - unless peace talks are on

King David Hotel: Palestinians not included

The King David is special to Jerusalem. Nick Kochan checked in and discovered it has some special arrangements, too
More people moving from Australia to New Zealand than in the other direction for first time in 24 years

End of the Aussie brain drain

More people moving from Australia to New Zealand than in the other direction for first time in 24 years
Meditation is touted as a cure for mental instability but can it actually be bad for you?

Can meditation be bad for you?

Researching a mass murder, Dr Miguel Farias discovered that, far from bringing inner peace, meditation can leave devotees in pieces
Eurovision 2015: Australians will be cheering on their first-ever entrant this Saturday

Australia's first-ever Eurovision entrant

Australia, a nation of kitsch-worshippers, has always loved the Eurovision Song Contest. Maggie Alderson says it'll fit in fine