At £14bn the value of unspent paper £20 and £50 notes equates to the equivalent of over 50,000 average priced UK homes!
After the 30th September 2022, paper £20 and £50 notes will no longer be legal tender in the UK. At the last count the Bank of England estimated there were over 460 million unspent paper notes – that’s over £6bn unspent in £20s and £8bn in £50s.
UK cash buyers
Each month around 28% of all sales in England and Wales are cash purchases. In 2021, cash sales account for more than 1 in 3 property purchases in the South West and less than 1 in five in London.
Did you know that the average price of a property purchased with cash is, on average, 8%-9% less than the average price of a property purchased with a mortgage?
Cash or mortgage?
Whether you are a cash buyer or purchasing with a mortgage, we’d be delighted to help you on your moving journey. Selected as one of the best estate agents in the country by the Best Estate Agent Guide, you know you are in safe hands with Quealy & Co.
Source: Dataloft, Nationwide, UKHPI, Bank of England
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