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Pete Mugleston

Author: Pete Mugleston - Mortgage Advisor, MD

Updated: July 15, 2022

Best locations for electric car owners

With the price of fuel rising, many of us are looking to save money where we can. Perhaps what you didn’t expect is where you live in the country can actually make a significant difference to electric car affordability.

Making a move from a regular petrol/diesel car to a full electric might still be seen as too pricey for some, but actually more affordable and practical options are appearing on the market.

If you currently own an electric car or have been thinking about getting one, the most affordable places in the UK have been found for you. Research from Get Agent analysed the number of electric vehicle charging stations per 100 electrical vehicles, and then combined with the average cost of houses to see locations that are the best for future and current homeowners.

Top three locations for electric car owners:

What are the benefits to having an electric vehicle charging point at your property?

Increase your property value
If you are a current or aspiring home owner, a great way to immediately add value to your property is to have an electric vehicle charging point installed. It has been said that a parking space is generally worth 5% of your property value so getting a charging point installed can make your home more desirable when looking to sell. It’s also worth considering government schemes that could cover some of the installation costs. The government are also looking to phase out the purchase of new petrol and diesel cars in 2030, so it’s the perfect way to get prepared as more people are turning to electric power for their vehicles.

Cost & Convenience
Having an electric vehicle charging point installed out home, means there is less need to go out of your way to hunt down a public charging station. It therefore better for the planet but also your wallet as it will allow you to control the costs by monitoring your energy tariffs. You will have peace of mind knowing your vehicle would be fully charged and ready when it comes to starting your day.

Charging time reduced
Plugging directly into a wall socket when charging electric vehicles can be unsafe. Charging through a wall box over a mains socket will dramatically reduce charging time at home in a safe way.

 

Research from Get Agent 

FCA disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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