Two graphs that show how expensive living in the UK is – rents are double the continental average June 24, 2015 Private rents in the UK are the highest in all of Europe, analysis by the National Housing Federation shows. Getting a tough ride compared to European counterparts, rents in the UK also take up the largest chunk of people’s salaries, while they are also the least secure. UK rents, according to the analysis, average at [...]
Expats beware: Working abroad could lose you money in the long run June 18, 2015 Moving abroad for work can be a very appealing prospect – there are higher salaries, lower tax rates and an undeniable sense of excitement. But doing so can often lead to financial losses down the line, according to financial advice firm AES International. They calculate that many of the 78,000 Britons leaving the [...]
Berkeley says interest rates hike could ease London house price rises June 17, 2015 Housebuilding giant Berkeley Group Holdings said yesterday that the prospect of an interest rate hike may help ease the pressure on London’s rising house prices, which have been fuelled by a lack of available homes in the capital. Data from the Office of National Statistic yesterday showed that wages have risen at their fastest [...]
No end in sight for London house price boom: Average asking price soars to more than £600,000 June 15, 2015 House prices in the capital are set to outpace earnings for the foreseeable future, despite government efforts to boost house building and affordability. Average London asking prices have jumped to £613,922 – above £600,000 for the first time ever – according to Rightmove data published today. It marks a rise of 5.8 per cent compared [...]
Rising UK house prices: 31 is the average age for buying a first home, and it rarely happens without parental support June 14, 2015 The average age for Britons to buy their first homes is now 31, up from 28 in 1995 according to Halifax figures. Over the last 20 years properties have mostly trebled in value from around £61,500 to £196,000, and they are predicted to go up another 25 per cent over he next five years due [...]
UK house prices: Stamp duty payments have fallen by half since George Osborne introduced reforms, but Londoners are missing out June 12, 2015 The amount property buyers are paying in stamp duty has halved since George Osborne introduced new measures aimed at making homes more affordable in the last Budget – but Londoners are massively missing out on those savings, new research has found. A study by the Post Office and the Centre for Economics and Business Research [...]
Leaving London: Is moving out of the Big Smoke good value for money? The pros and cons June 11, 2015 With London homes so expensive, more people than ever are thinking of escaping to the country. But is it all it’s cracked up to be? We’ve teamed up with the help of property agent Savills to challenge the assumption that you’ll get better value for your money buying outside the capital. For some, the [...]
Global turbulence to rock UK: Trouble in the Eurozone, Fed rate hikes and a Chinese slowdown could hit markets June 8, 2015 Yesterday, the Confederation of British Industry (CBI) revised its UK economic growth forecasts to 2.4 per cent and 2.5 per cent for 2015 and 2016 respectively, down from 2.7 per cent and 2.6 per cent. It wasn’t troubles at home that concerned the business organisation. The CBI cited economic instability in Greece, a sluggish Eurozone, [...]
First ever tracker mortgage with interest rate below one per cent June 5, 2015 CHELSEA Building Society yesterday unveiled the first ever tracker mortgage with an interest rate below one per cent. Housebuyers who want to borrow under the scheme need to meet stringent restrictions, including having a 35 per cent deposit and paying £1,545 in fees. But if they can do, applicants are rewarded with an interest rate [...]
UK house prices: The return of cheap housing finance? Chelsea Building Society unveils the first tracker mortgage to be launched with an interest rate lower than one per cent June 5, 2015 When the sub-prime mortgage bubble burst, everyone blamed cheap borrowing – but that clearly hasn't perturbed the Chelsea Building Society, which today unveiled the first ever tracker mortgage launched with an interest rate below one per cent. To be fair, housebuyers who want to borrow under the scheme need to meet pretty stringent restrictions, including [...]