Homeowners cash in with no-sale mortgages

Some homeowners may need to move to another property for work or family reasons but do not want to sell their current home as they don’t want to lose out on equity stored within the property. Cath Hearnden, director of My Mortgage Direct, says: “A property bought three or four years ago is likely to be holding a sizeable chunk of equity which represents a golden egg – people don’t want to let that go. “With the relentless rise in property values, homeowners are being very careful about when they cash in their chips because when it’s gone, it’s gone – they know this kind of opportunity ...