It is taking longer to sell a house than in previous years, according to a property purchasing firm.

National Homebuyers claims that the average length of time taken to sell a property is now 99 days, compared with 72 days in 2006.

And many homeowners in the north are keener to get a quick sale, based on applications to the company.

In light of the longer sales process, some households may prefer to stay put and obtain funds from their property in the form of a homeowner loan.

By doing so as a "second charge", homeowner loans may be taken out even where a mortgage is already in place - which could suit those in the north.

"Many people in the north - particularly those new to the property ladder - have very little existing equity in their home," observes Julian King of National Homebuyers.

Independent mortgage adviser alexander hall explains that a second charge typically involves a secured loan being taken out alongside an existing mortgage and may be called a "subsequent charge" in some cases.ADNFCR-1287-ID-18343417-ADNFCR

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