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Low deposit mortgage deals see dramatic rate cuts

Borrowers with a five or 10 per cent deposit are seeing significant reductions in the cost of mortgages There have been large rate cuts across low deposit mortgages in the last month, according to Moneyfacts, driven by continued competition among providers. The financial information provider said that the most dramatic month-on-month average rate cuts were [...]

News Letter – October 2021

Furlough scheme ends with almost 1 million left in limbo

The furlough scheme closes on Thursday, with uncertainty ahead for people who have not yet fully returned to work. Nearly one million workers were expected to be on the scheme at the end of September, according to research by the Resolution Foundation. Of those on furlough in late July, about half on the scheme were [...]

Stamp duty holiday: Success or failure?

Home buyers have benefited from lower or no stamp duty, a tax paid on property purchases, in some parts of the UK, for more than a year. The tax holidays on stamp duty or its equivalent taxes, were introduced by ministers to stimulate the housing market as the country emerged from the first national Covid [...]

Mortgage borrowers could overpay by £2,500 by not shopping around

Mortgage borrowers could be paying £2,500 more than they need to if they fail to refinance and allow their loan to revert to a lender's standard variable rate (SVR). According to research from L&C Mortgages, the amount borrowers could be overpaying has increased from £2,159 last year to £2,540 this year as average rates continue [...]

Petrol prices have reached their highest level in eight years!

According to the RAC, the average price of a litre of petrol jumped from 135.87p on Friday to 136.59p on Sunday, the highest level since September 2013. RAC fuel spokesman, Simon Williams, said: “When it comes to pump prices, it’s a pretty bleak picture for drivers.” He added: “With the cost of oil rising and [...]

UK house prices forecast to rise by up to 3.5% a year between 2022 and 2024

Hamptons has released its housing market forecast for next year and beyond, predicting that property price growth will remain above pre-pandemic levels as the cycle ends in 2024. The company believes that summer 2021 marked peak house price growth. As we move into autumn and winter they expect price growth to slow, ending the year [...]

Inflation: Price rises see record jump as food costs soar in August

Price rises have seen the biggest jump since records began in 1997 as the economy continued to reopen. Official figures show that the increase in the cost of living, as measured by the Consumer Prices Index, hit 3.2% in the year to August. Higher prices in restaurants and for recreation and food were behind the [...]

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