Rachel Reeves eyes boost for first-time buyers with mortgage reforms Economics Rachel Reeves will today unveil a fleet of reforms in a bid to boost home ownership as she plans to slash ‘financial red tape’. Speaking in Leeds ahead of her Mansion House address, the Chancellor will announce plans for the Prudential Regulation Authority (PRA) to increase high loan-to-income mortgages (over 4.5 times a buyer’s income) [...]
Post Office extends banks’ cash deal as MPs call for mandated acceptance Banking The Post Office has reached a five-year banking deal with lenders and building societies to keep cash services running amid a continued retreat of banks from the high street. This renewed deal follows research commissioned by the company, which found nine in ten people believe it is important to maintain access to cash. The partnership [...]
Buying a house? Pay in cash for a £28k discount Property Buying a house is the largest purchase most of us will make in a lifetime – but it may be cheaper for some than others. Cash buyers now pay £28,000 less on average for a home than those relying on a mortgage, and the ‘cash discount’ has risen by 12.4 per cent in just two [...]