Home owners in the capital city of London have been finding an additional £200 of value in their homes each and every day on average for months, according to the latest figures. This is the reality of many house owners in London, although many other areas across the country have gone through slowdowns of their own. The increase in home value is an increase of what has taken place over the ninety days from January to March of this year.

The Land Registry has released figures to confirm the growth in house prices which is twice the average salary in the city of just more than £36,000.

Graham Stubbs from agents Chestertons commented on the latest figures to surface, saying: “Since before Christmas we have had would-be purchasers practically queueing round the block, and it’s been a real mix of first-time buyers, second-steppers, buy-to-let investors and people looking for a London pad as a second home or work-day pied-à-terre.”

As home owners have compiled additional value to their places of residence, they are also still taking advantage of competitive remortgage deals being offered by lenders. Mortgage lenders of all sizes currently have deals on the table with low interest rates attached and many with quite low administrative costs.

A remortgage remains an unused tool for many house owners looking for a lower interest rate, and therefore a lower monthly mortgage payment. For those who do take advantage of a remortgage, home renovations, paying off old debt, and possibly taking a holiday are very much possibilities.