Cost of living crisis: protect your investments, property, savings and pension from rising prices
Prices surged by 5.4pc in the year to December as UK inflation hit its highest level in 30 years. Experts have predicted the cost of living crisis…
Nationwide and Santander rush to raise mortgage rates – the first lenders to do so
Britain’s biggest building society Nationwide has become the first lender to announce it will increase mortgage rates, after the Bank of England’s decision to raise the Bank…
Mortgage costs rise ahead of Bank of England meeting
Households have been forced to pay hundreds of pounds more on their mortgages as lenders scramble to get ahead of tomorrow’s expected interest rate rise. Banks have…
Britain’s biggest bank launches cheapest ever 10-year mortgage
Britain’s biggest bank has launched the cheapest 10-year mortgage on record, as borrowers flock to long-term deals to shield themselves from interest rate rises. Homeowners have turned…
Cost of living crisis leaves workers £2,850 worse off
Hard-pressed households will come under more pressure this year as a toxic cocktail of inflation, tax hikes and high energy prices take their toll on finances. Wages…
Cost of living crisis: protect your investments, property, savings and pension from inflation
Prices surged by 5.4pc in the year to December as UK inflation hit its highest level in 30 years. Experts have predicted the cost of living crisis…
‘I’d sell the family silver before using equity release’
These borrowers risk losing the entire value of their home to their lender thanks to the way in which interest is added to the original debt and…
Families to be frozen out of mortgages as cost of living crisis hits
Michelle Leyland, of broker South Yorkshire Money, said lenders had already begun tweaking their affordability criteria to mirror rising bills. She added: “Lending this year will no…
‘Equity release was a terrible mistake’: are controversial loans a financial saviour or debt trap?
Turning your own home into a cash machine without having to sell it can be a real boon for older homeowners – but equity release can also…
HSBC could restrict new mortgages as households face energy squeeze
HSBC is considering tightening its mortgage lending criteria as household finances face a squeeze from the energy crisis. Sources said the bank is assessing whether to impose…
JP Morgan chief warns of multiple US interest rate rises as cost of new mortgages set to surge
The world’s most powerful banker has warned there could be as many as seven interest rate rises in the US this year, as households around the world…
Is it illegal to rent out my house without a buy-to-let mortgage?
Homeowners who have chosen to rent out their property risk landing themselves in hot water if they fail to inform their mortgage lender of their decision. So-called “accidental…
New mortgage deals cost hundreds of pounds more just weeks after rate rise
Threadneedle Street surprised markets when it raised the Bank Rate just before Christmas. Millions of borrowers on variable rate and tracker mortgages faced an immediate increase in…
Protect your investments, property, savings and pension from inflation in 2022
Prices have risen by more than 5pc in the past year and there is growing unease at the Bank of England that inflation is here to stay…
Just 10 sub-1pc mortgage deals remain
Katie Brain of Defaqto, another analyst, said: “We won’t be getting this type of deal back any time soon. Borrowers who are close to buying or remortgaging…
‘Kick in the teeth’ for families as Nationwide raises mortgage rates further than Bank of England
Families are facing the “year of the squeeze” with inflation exceeding 5pc, the highest in a decade, taxes rising from April, energy costs spiralling and the costs of…
Thousands risk losing their homes as bank repossession ban ends
Tens of thousands of homeowners face eviction after banks ended a Christmas ban on repossessions. Mortgage lenders had collectively agreed not to repossess any homes over the…
Sterling nudges €1.20 as prospect of February interest rate rise mounts
Growing expectations of a second Bank of England rate rise next month pushed the pound to two-year highs against the euro as Boris Johnson played down the…
The best way to invest an inheritance: stocks, pension or paying off the mortgage?
Receiving an inheritance can be a pivotal moment in life and it is common to feel pressure to do the “right” thing with the money. Gaining a…
The key dates for your finances in 2022
A cost of living crisis is on the horizon. Soaring inflation and further interest rate rises in 2022 mean households are likely to see significant jumps in…
Rules relaxed on who can take out a 40-year mortgage
Home buyers who fix their mortgage for four decades can now borrow seven times their salary, including those earning below average salaries. Habito, a lender, has relaxed…
Inflation to hit 6.8pc – how it will affect your mortgage, savings and investments
What does this mean for my mortgage? If the Bank Rate increases to tackle inflation, this would serve as a blow to the millions of households currently…
Estranged couples rush to remortgage ahead of ‘no-fault’ divorce change
Relationship breakdowns hit a seven-year high this year, placing even more pressure on courts which were close to capacity before the pandemic hit. Amanda McAlister, of McAlister…
Taxes are up and inflation is rising – here’s how to protect your money
At the same time, the £12,570 personal allowance for income tax will stay frozen until at least 2026. It means more could be dragged into higher tax…
Cost of living crisis kills off the self-employed dream
The Bank of England’s decision to raise interest rates to 0.25pc from 0.1pc last Thursday will increase the cost of borrowing and make getting on the ladder…