With many property investors intending to pass on their real estate portfolio to family and friends, the transfer of assets by way of inheritance forms a significant proportion of annual property transactions.
Upon inheriting a home, many choose to undertake refurbishment and restoration work, with a view to maximising a sale valuation or buy to let return. Others will look to sell the property immediately to free up equity that can be re-invested, with some opting to live in the property themselves. As such, understanding the intentions of UK adults set to inherit a significant segment of the UK’s housing stock is of the utmost importance to understanding future market activity.
To that end, this week MFS launches a new report – Inherited Property: The Future of UK Homeownership. Based on an independent, nationally-representative survey of more than 2,000 UK adults, the research reveals the ambitions and challenges facing people across the country expecting to inherit property. Featured in The Sunday Times, This is Money, and The Express, the research found that:
- 36% of UK adults are in line to inherit all or part of a property
- The average value of a passed-on property is £347,500
- 67% will not choose to live in the property they will inherit
- 55% of people plan to sell their inherited property as soon as possible
- 32% hope to refurbish the properties to maximise potential returns
Click here to read our new ‘Inherited Property: The Future of UK Homeownership’ report.
MFS remains committed to supporting those looking to release equity in an inherited home as part of their property investment strategy. Our specialist bridging finance solutions are ideally tailored to supporting refurbishment and restoration projects as well as mitigating against mortgage delays.
Click here to find out more about FlipFinance2017 – MFS’ industry-first funding drive for aspiring property investors and landlords in need of specialist finance.