Home values in the countryside are doing better than they were a decade ago.  This is one area where homeowners have found their equity nicely left intact compared to other areas making remortgaging much easier.  Some seeking remortgages have found that they are closer to negative equity than they are to securing a low interest rate.  Home values have fallen below the top level selling prices from the boom years and those homeowners are out of luck.

For homeowners there couldn’t be a better time to grab a cheap remortgage deal.  Many lenders in the last few weeks have cut down their interest rates on both trackers and fixed rate remortgage deals.  They also have raised their loan to value levels as well as adding in nice incentives such as no fees, free valuations, and free legal work.  This has made for some very attractive remortgages but few have the equity to remortgage at the very best rates since property values have fallen in the majority of areas.  Yet it appears the British countryside is holding on strong to their value.

Those in the British countryside are said to have gained value in their property by an average of almost £600 a month in the last decade.  This has helped them gain worth of approximately £27,000 more than urban properties according to data from the Halifax.  In comparison, rural homes gained £576 a month on average from 2001 to 2011, and urban area properties saw an average gain of £519 a month for the same time span. 

Martin Ellis, head of housing economics at Halifax, said “These areas attract families or retirees, who have been a little less affected by the lending crisis than those further down the property ladder, and that’s helping to drive up demand and price.”