Neighbours motivate 95,000 house moves

| December 7, 2009 | 0 Comments

Annoying neighbours are providing a major reason for Britons to embark on a house move, even in today’s difficult market.

Information from Abbey Mortgages suggests that 95,000 homeowners have sold up in the last two years to escape the people next door, forming a significant proportion of the UK’s 680,000 home movers during the period, as calculated by the Council of Mortgage Lenders.

However, one in three of those relocating were climbing the property ladder, while one in five was prepared to uproot to obtain more space.

Others were downsizing, had found their dream home (hopefully with ideal neighbours) or were moving for school or for work reasons.

In further Abbey news, the lender’s parent company, Santander, is about to offer its mortgage borrowers a bank current account that attaches no fees to overdrafts, whether authorised or unauthorised.

The Spanish banking giant is launching its “Zero” current account on 11th January, to coincide with the rebranding of Abbey, Bradford & Bingley and Alliance & Leicester to the group name.

Customers going into the red will be relieved of the usual penalties and will pay interest at a market-leading rate of 12.9%.

In addition, the Zero account allows fee-free withdrawals from overseas ATMs and pays interest at 6% during the first year, for customers whose accounts are credited with at least £1,000 a month.

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