Brits ‘pay the price for itchy feet’

For many people having itchy feet might mean increased debt management concerns, but Birmingham Midshires’ latest study shows that around 17 per cent of people are keen to move house within the next four years.

And those who live in London are among the most likely to up sticks, with 28 per cent of homeowners living in the capital intending to stay in their current property for less than three years.

“While there is money to be made in investing in property, moving can be a costly business and we would advise anyone thinking of taking the next step on the property ladder to consult a regulated mortgage intermediary to ensure they are making the
most of their money,” said Tim Hague, Birmingham Midshires’ managing director.

Highlighting the potential for debt management problems, recent research from The Co-operative Bank showed that the average Briton spends close to £23,800 on moving house over the course of their lifetime.