Homebuyers 'keen to live near schools'

Posted: 23 Aug 2011 11:15:24 GMT

Moving to a school catchment area is a top priority for many parents.

Many homebuyers in the UK are keen to move to dwellings situated close to schools, new research has shown.

Carried out by Santander Mortgages, the study revealed more than one-third (37 per cent) of prospective purchasers with a child under the age of ten cited living in a school catchment area as their number one priority.

Moreover, it was demonstrated that these people are willing to shell out an additional £12,141 to make this happen.

From a geographical perspective, the report showed those in the north-east and the West Midlands are the most concerned about residing in a region with good school links.

Phil Cliff, director of Santander Mortgages - which entered the UK market in 2004 - said: "Some in-demand property features such as being located within the catchment area of a good school can increase the property value considerably."

He added it is therefore important for mothers and fathers to get the best mortgage product for their personal needs.
 

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