Bank of England raises UK interest rates by quarter-point to 4.25%
Monetary policy committee votes to increase base rate after February’s surprise rise in inflation Business live – latest updates Analysis: Is this the end of interest rate rises? What the interest rate rise means for you The Bank of England has raised interest rates by a quarter of a percentage point to 4.25% in response […]
UK interest rate rise: what it means for you
How the new base rate of 4.25% might affect mortgages, house prices and credit cards Business live – latest updates Analysis: Is this the end of interest rate rises? Bank of England raises interest rates to 4.25% The Bank of England has yet again raised interest rates, this time by 0.25 percentage points, taking the […]
UK shoppers: which item in your basket has gone up most in cost?
We would like to know about the key product that has risen in price the most in your shopping basket over the last year The UK’s annual inflation rate rose to 10.4% in February as prices continue to rise for a wide range of goods and services. If you live in the UK, we would […]
Why does the UK have highest inflation in G7 and is Brexit a factor?
Britain appears to be an international outlier after the shock reading in double digits this week Live coverage: Inflation jumps as cost of living crisis intensifies UK inflation rate in surprise rise to 10.4% Inflation calculator: find out how much price rises affect you Britain has the highest inflation rate in the G7, as the […]
Jeremy Hunt’s ‘stealth’ income tax rise: here’s how it will affect you
Millions of people in England, Wales and Northern Ireland face paying basic or higher-rate tax for first time. We look at how much it will cost and what you can do The government’s decision to freeze income tax thresholds means nearly 3 million low- and middle-income people in England, Wales and Northern Ireland will have […]
Central banks must keep interest rates high to combat inflation, says OECD
Organisation also says UK will be only G20 economy apart from Russia to shrink this year Central banks should maintain the fight against inflation with high interest rates despite fears of a global banking crash, according to the OECD, which said the UK will be the only economy in the G20 apart from Russia to […]
Homes for sale in former pubs – in pictures
From a rags-to-riches brick workers’ alehouse to a pub that could once have served thirsty rope makers Continue reading…
Budget: UK on track for ‘disastrous decade’ of income stagnation
Thinktank says taxes as share of GDP are on course to reach 70-year high but public services are being cut Budget 2023: key points at a glance The UK remains on track for a “disastrous decade” of stagnant incomes and high taxes, despite cuts to public services, the Resolution Foundation has said in its analysis […]
‘Disappointing’ – housing chiefs slam lack of property measures in Budget
Landlords, estate agents and surveyors have all given yesterday’s Budget an unqualified thumbs down after the Chancellor chose to focus on economic growth but ignore several problem threatening to engulf the housing market. All have said the budget was disappointing and a ‘missed opportunity’ to invest in the UK’s housing market and head off some […]
Landlords are rushing to sell as tax bills and refurb costs rise above rent
You’ve made the decision to sell, and beat the market drop and increased costs. But where do you turn? Estate Agents can get you a high price, but they’ll take far too long. Auctions can sell super-fast, but you might be compromising on price. At Landlord Sales Agency, industry experts in selling tenanted properties, we […]
A Guide to Finding the Perfect Holiday Rental in Shrewsbury
Looking for a holiday rental in the picturesque town of Shrewsbury? Look no further, because we’ve got you covered! With its stunning architecture, rich history, and charming atmosphere, Shrewsbury is the perfect destination for your next getaway. But with so many options to choose from, finding the perfect holiday rental can be overwhelming. That’s why […]
A year in review for agents: The PRS annual report 2022
The Property Redress Scheme annual report 2022 has just been released and reflects on the past year in the property rental sector and we look at some of the major things on the horizon that property agents need to be prepared for in 2023. The report covers a summary of what happened in the private […]
Second charge new business up 8%: FLA
There were 2,295 new second charge agreements made in January, says the Finance and Leasing Association (FLA). This is 8% more than in January 2022, it adds. Meanwhile, the value of new business stood at £103m, which is 14% more than the year previous. The FLA also notes that new agreements made numbered 33,951 in […]
Experian Testing Pilot Service that Could Help New Arrivals to the UK Build a Credit File in Just Three Months
Experian today announced plans to pilot a new service that could help millions of financially excluded people get better access to mainstream financial services. Experian’s ground-breaking initiative aims to help people with little or no credit history – the so-called ‘credit invisibles’ – build out their credit files in as little as three months, for […]
De Vere Beaumont Estate completes multi-million-pound refurbishment
De Vere Beaumont Estate in Old Windsor, part of De Vere’s collection of country estate hotels, has today unveiled the final phase of its grand transformation with the completion of refurbishment works to its bedrooms, the Beaumont Restaurant and ind…
They moved abroad hoping to save money — here’s what they found out
Many people move abroad hoping to reduce their cost of living. Like home, it often depends on where and how you live.
House prices fall across UK with estate agents gloomiest in 14 years
Poll by professional body finds 70% of most expensive properties selling for below asking price
UK house prices could be stabilising despite falls, say surveyors
Rics data for February shows improvement in new buyer inquiries and sales The UK housing market remains in decline but there are some signs of stabilisation, with an improvement in new buyer inquiries and sales last month, according to surveyors. Many told the Royal Institution of Chartered Surveyors (Rics) that a return of optimism, and […]
Will The Housing Market Collapse In 2023?
When it comes to stocks and shares, I’ve never been a massive fan of (or very good at) predicting what the market will do over a period of 12 months or so. If it goes up, great, if it doesn’t- I’ll buy more and sit on it. With housing however, it isn’t quite that straight forward. For […]
UK housing market ‘resilient’ as prices rise 1.1% in February; Greggs warns of rising costs – business live
House prices rose unexpectedly last month, but cautions that “the underlying activity continues to indicate a general downward trend” UK shoppers slash spending as price rises and energy bills bite Greggs has reported that its move to open some bakeries later into the evening is paying off. Greggs extended the opening hours of 500 shops […]
UK house prices rise as mortgage rate cuts lift confidence
Average monthly increase of 1.1% to £285,476 in February, after falls in previous two months, says Halifax UK house prices picked up in February from the previous month as recent reductions in mortgage rates helped to stabilise the market, according to the lender Halifax. The average house price rose 1.1% to £285,476 last month compared […]
UK shoppers slash spending as price rises and energy bills bite
February figures from BRC highlight impact of cost of living crisis on British economy before budget UK consumers sharply cut back their spending in February as soaring living costs damaged household finances, retailers have warned, despite strong sales of jewellery and fragrances for Valentine’s Day. Highlighting the impact of the cost of living crisis on […]
Want to properly plug the UK’s north-south divide? Look to Germany | Larry Elliott
Boosting spending power, increasing public funding for science and tech skills, R&D and infrastructure could work Britain has been struggling to find a solution to its north-south divide since the staple industries of the Industrial Revolution – textiles and coal – started to decline in the early 20th century. It is not a unique problem. […]
Women in UK ‘more likely than men to be on low pay and struggling’
Half a million more women than men are paid below real living wage and 13% are on zero-hours contracts Half a million more working women are paid below the real living wage than their male counterparts, according to data from the Living Wage Foundation. It says women have been harder hit by the cost of […]
Weaker UK economic outlook weighs on housing market; Pret hikes worker salaries – business live
Rolling coverage of the latest economic and financial news, as Taylor Wimpey says weaker economic backdrop is hitting the near-term outlook Bank of England boss signals interest rates may have peaked More London-listed companies could choose to follow CRH’s plan and shift their primary stock market listing to New York, predicts Russ Mould, investment director […]
UK government made £2.4bn from mortgage sales – report
The founder of the MoneySavingExpert website is calling on the government to do more to help.
UK government made £2.4bn from ‘mortgage prisoner’ loan sales, says Martin Lewis
Tens of thousands of borrowers had their loans sold on to providers at which they were unable to switch The UK government made a £2.4bn “profit” when it pushed tens of thousands of mortgage borrowers “into poverty” after selling their loans on to new lenders, the campaigner Martin Lewis has claimed. The MoneySavingExpert founder was […]
How rising interest rates sent the UK housing market into reverse
An end to ultra-low rates mean borrowers can only afford smaller mortgages BoE boss says interest rates may have peaked UK house prices fall at fastest annual rate since 2012 Since the turn of the year the news on the economy has been less bad than expected. Growth has been a bit stronger, spending in […]
UK mortgage market contracts for fifth month after Liz Truss mini-budget
Approvals at lowest since 2009 – bar during Covid lockdown – as demand for new homes continues to fall Britain’s mortgage market has contracted for a fifth month in a row, official figures show, as the jump in interest rates that followed Liz Truss’s September 2022 mini-budget continued to trigger a collapse in demand for […]
UK house prices fall at fastest annual rate since 2012
Year-on-year February 1.1% decline comes as average price of property drops to £257,406, says Nationwide BoE boss says interest rates may have peaked How rising rates sent the UK housing market into reverse Annual house price growth in the UK turned negative in February for the first time in almost three years, Nationwide data shows, […]
‘I wanted my son to have something to inherit’ – that’s why I decided to invest
For Phil Brown, after paying off his mortgage early, investing meant securing his family’s financial future Phil Brown credits an “old fashioned” approach to money for helping him accumulate enough spare cash to start investing. “I hate being in debt; I hate the cost of it,” he says, explaining his determination to pay off the […]
Co-operative Bank reportedly eyeing Sainsbury’s Bank’s £650m mortgage book
The Co-operative Bank is reportedly in play to acquire Sainsbury’s Bank’s £650 million mortgage loan book. Co-operative Bank reportedly bidding for Sainsbury’s Bank £650m loan book The Co-operative Bank is the frontrunner amid a bidding war being run by consultancy Deloitte that has seen challenger Starling Bank already drop out, Sky News reports. Sky News […]
Hopes rise that UK might avoid recession after services sector rebound
Pound edges up as stronger economic growth increases chances of further interest rate rises A rebound across the UK’s services sector in February has raised hopes that the country might avoid recession in the first half of this year. Analysts said the bigger than expected surge in business activity appeared to show that the UK […]
Co-operative bank leads race to acquire Sainsbury’s mortgage book – Sky News
The Co-operative bank is reportedly the frontrunner in the bidding process for the £650 million mortgage loan book of supermarket chain Sainsbury’s, heralding a turnaround in the fortunes of the once distressed lender.
Energy crisis stemming from Ukraine war ‘cost £1k for every UK adult’
Conflict came on top of our over-reliance on gas, says Energy and Climate Intelligence Unit The UK’s over-reliance on gas has been blamed for pushing up bills as it emerged that the energy crisis stemming from the war in Ukraine had cost the equivalent of £1,000 for every adult. A study by the Energy and […]
Quarter of UK households regularly run out of money for essentials, survey says
Charities find nearly 40% of people end the month with no money, and 67% say UK government not doing enough about crisis One in four households regularly run out of money for essentials and voters do not believe the government is doing enough to help, a group of charities have said. Nearly 40% of people […]
UK property asking prices stagnating, lifting hopes of softer landing for housing market – business live
UK property asking prices rose by just £14 in February, weakest gain on record, Rightmove reports, with sellers ‘more realistic’ about what property is worth Loss of nearly 15,000 UK retail jobs a ‘brutal start to 2023’, report says In the City, shares in retail group Frasers are leading the FTSE 100 risers after it […]
Investment bootcamp: five ways to make your money work harder
Knowing the best way to invest your money can be tricky – especially during economically volatile times. These expert tips will help you decide where to put your hard-earned cash – and how to make the most of it If you’re thinking about investing for the first time, your instinct may be to delay transferring […]
From hidden costs to lack of knowledge: seven misconceptions that stop people from investing
Whether you’re worried about timing it right or not having enough expertise, there are always concerns when it comes to investing. Experts explain why you should put your fears aside and make the leap People have all sorts of reasons why they don’t invest their money – whether it feels like it’s too late in […]
UK mortgage deals: how to navigate the rollercoaster rates ride
Amid a debate about what is happening to the housing market, what are your options? We are in the grip of a mortgage price war, according to some experts – but it probably won’t feel like that if you are staring down the barrel of much higher monthly payments. It is certainly fair to say […]