Is It Worth Remortgaging Early? A Simple Guide for UK Homeowners
Refined Word doc is ready. Now here is the same treatment applied to your remortgaging content: Slug URL: is-it-worth-remortgaging-early-uk-guide Primary Keyword: remortgaging early UK Secondary Keywords: is it worth remortgaging early, early repayment charges UK, remortgage before deal ends, release equity remortgage, fixed rate remortgage UK, buy to let remortgage early, remortgage savings calculator UK, […]
‘This is just ruinous’: the Britons unable to afford their homes
Millions are finding themselves priced out of renting and buying amid high inflation and mortgage rates Out of reach? The tool that shows where you can afford to buy or rent in Great Britain The cost of living crisis, spiralling mortgage rates and soaring rents have exacerbated property shortages in Britain to the extent that […]
Economic growth to pick up but risks to recovery ‘elevated’, say UK forecasts
Households and firms can expect more financial pain despite Britain dodging technical recession, says KPMG Britain will be left with deep scars from the pandemic despite narrowly escaping a second recession within three years and growing signs of an economic pick up, according to new forecasts. A new report by the accountancy firm KPMG has […]
Homes for sale near festivals – in pictures
From a restored old coach works in London to an 18th-century paper mill in the Lake District Continue reading…
‘It would really help us’: renters in the UK who want a 100% mortgage
No-deposit loan presents possible route out of rental trap to those deemed eligible When Skipton, one of Britain’s biggest building societies, launched the UK’s first 100% mortgage exclusively for renters last month, reactions varied wildly. While some commentators regard the first-of-its-kind home loan as a “revolutionary” way to get people out of the rental trap […]
Housebuilders cut back on construction as UK mortgage rate rises spook buyers
Work on residential building sites slips in May to weakest level since 2009 UK banks pull hundreds more mortgage deals as fixed rates rise Britain’s housebuilders are cutting back on the construction of new homes amid signs that potential buyers are being spooked by the prospect of increases in mortgage rates over the coming months. […]
UK banks pull hundreds more home loan deals as fixed mortgage rates rise
Mortgage market turmoil prompts record numbers of people to take out loans of more than 35 years Hundreds more home loan deals have been pulled by banks and building societies since the end of last week while rates on new fixed mortgage deals are continuing to ratchet upwards, the latest data reveals. The continuing turmoil […]
Mortgages: UK lenders continue to raise rates and pull deals
Record 19% of all loans taken out by first-time buyers in March were for 35 years or longer Business live – latest updates Mortgage market misery has stepped up for homebuyers as lenders continue to increase borrowing rates and pull deals, prompting record numbers to take out loans of more than 35 years in an […]
We can’t get a mortgage to help us buy a listed property. Should we find another way?
The seller failed to get conversion warranty but bought retrospective one, while broker suggested secured loan to us Q My husband and I have recently sold our first home in the south-east and now have £300,000 in our bank account. We would like to buy a beautiful property farther north for the agreed price of […]
Agreed house sales in UK at highest point this year, says Zoopla
But property website warns that rebound in activity could be hit by rising mortgage rates More prospective house sellers are returning to the UK’s property market, pushing agreed home sales to their highest point of the year in May, according to Zoopla, although it warned that the rebound in activity could be knocked by rising […]
Stylish new-build UK homes for sale – in pictures
From an airy modern studio in Edinburgh to a Georgian-influenced village in Dorset Continue reading…
UK homeowners and first-time buyers warned to brace for 5%-plus mortgage rates
Lenders forced to raise fixed-term deals after latest inflation figure pushed swap rates upwards Households looking for a new mortgage deal have been warned to expect 5%-plus fixed-rate deals in the coming weeks, after Wednesday’s inflation figures sent the money markets back into turmoil. Nick Mendes, the mortgage technical manager at the broker John Charcol, […]
Inflation calculator: find out how much UK household price rises affect you
This online tool will help you discover what is contributing to your household’s cost of living increases Inflation has been soaring in the UK, with people being hit by higher prices for everyday essentials. The latest inflation rate for the 12 months to April 2023 means that goods and services cost more than 8.7% more […]
Private renters ‘almost twice as likely to struggle with debt as UK general population’
Charity says stronger protections are needed or people will be left vulnerable to ‘hair-trigger evictions’ Private renters are almost twice as likely to be struggling with problem levels of debt as the general population, with a sharp rise in the numbers in serious financial difficulty since January, research shows. The figures come against a backdrop […]
A broker told me I don’t earn enough for a London mortgage. Is that true?
I have lived at the family home all my life, I earn £26,000 a year and have about £60,000 for a deposit Q I’m almost 26 and have lived at home my whole life, just outside the M25. I am a tailor, I didn’t go to university – so have no student debt – and […]
British supermarkets report shortages of peppers as Morrisons rations sales
Retailer limits purchases to two a customer after cold snap in Europe hits supplies British supermarkets are running short of peppers after a cold snap in Europe, leading some to limit the number customers can purchase. In a repeat of the shortages of salad crops in February and March, another bout of unseasonably cold weather […]
Little progress made on energy efficiency in UK homes, report finds
National Infrastructure Commission accuses ministers of ‘prevarication’ over installation of heat pumps Ministers have made negligible progress in improving the energy efficiency of the UK’s homes even as Russia’s invasion of Ukraine has underscored the need to cut the reliance on gas for home heating, according to the National Infrastructure Commission (NIC). The independent infrastructure […]
Jeremy Hunt has left the UK to rot in poverty. So we must take matters into our own hands | Gordon Brown
With hygiene banks now joining food banks and clothes banks, I’m calling on retailers to take drastic action and help their poorest customers Poverty will last until doomsday if this Conservative government is all that confronts it. The so-called “budget for growth”, more accurately titled the “budget for growth in poverty”, has done nothing for […]
Bank of England boss urges firms to hold back price rises or risk higher rates
Andrew Bailey says interest rates will have to rise again unless inflation falls Wetherspoon’s boss: hospitality holding off price rises could be ‘catastrophic’ The Bank of England governor, Andrew Bailey, has called on businesses to hold back price rises, telling them that interest rates will need to rise again unless inflation falls. Bailey, who was […]
UK households ‘spent 12% more on essentials in February than year earlier’
Almost four in 10 people have to use credit cards to cover such costs, says Nationwide Inflation and rising bills mean UK households are spending 12% more on essentials than they were a year ago, with almost four in 10 people having to use credit cards to cover these costs, new data shows. Two days […]
Food banks supported 800,000 UK children in 2021-22, data shows
One-fifth of UK population was in relative poverty after first year of pandemic, when support measures scrapped Families including 800,000 children were forced to turn to food banks to feed themselves as poverty levels started to rise again after the first year of the pandemic, the first official figures on UK food bank use show. […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
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 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 […]
Rats, mould, damp: one woman’s story reveals the ugly truth about the UK’s biggest housing association | Aditya Chakrabortty
A mother of three’s struggle with Clarion reflects a system rigged to favour asset-owners while renters are abandoned You will read the grim facts about Chanel Sultan’s life in a minute, but first let’s talk about her dreams. Like the law degree she has just started, or her hope to buy her own home. Like […]
UK property demand declines as house prices in England fall
Further slowdown likely amid interest rate rise and cost of living crisis, says surveyors’ body Rics Property sales and house prices continued to decline across the UK in January, while new buyer demand and fresh listings were also down, surveyors have reported. A net balance of -47% for new buyer inquiries was reported, down from […]