The gap between Britain’s haves and have nots has been widening over the last decade, new figures have revealed. The Resolution Foundation think tank says the top 1% of the UK adult population – around 488,000 people – own 14% of the nation’s assets, worth a cool £11 trillion.
More than 1.5 million interest only mortgages are still in force in the UK and both lenders and regulators are concerned that thousands of borrowers have no plan in place to pay off the capital at the end of the loan. The Financial Conduct Authority (FCA) is expecting three peaks for the bulk of the …
Continue reading “Six ways to pay off your interest only mortgage”
Saving your deposit may seem the most important thing in getting your mortgage, but don’t ignore your credit score too. Price comparison site Moneyfacts said recent research has shown that many prospective buyers struggle to get a mortgage because of their poor credit rating.
The average UK house price has risen by £12,000 year on year and the cost of renting is up by 1.8%. The Office for National Statistics (ONS) says a typical home in the UK is now £220,100, a rise of £3,500 on the previous month and affordability is the biggest concern for renters.
More first-time buyers are getting that all important first step on the housing ladder, claiming 34% of market activity in March. Latest figures from the Council for Mortgage Lenders (CML) showed a pronounced jump in March with first-time buyers taking out £4.9 billion in loans to buy new homes – a massive 29% up from …
Continue reading “More first-time buyers stepping onto the ladder”
£1000 worth of prizes to be won in our Money Moments competition! Since August 2016 Churchill Sloan has recovered more than [TotalReclaimed]‡ for our clients in mis-sold packaged bank account claims. Prior to taxes & fees, our average pay-out per case is around [AverageRefund] and our top offer was £9,569.52! Success Stories There have been …
The Association of British Insurers (ABI) has taken the lead in developing the planned British pensions dashboard project to prevent delays caused by the general election. The initial project to develop the system ended in May, but the ABI stepped in to keep the momentum going.
Are you one of millions of UK mortgage holders who are paying £5,000 a year too much on your loan? New research by online mortgage broker Trussle has revealed that just one in three borrowers have switched their mortgage to save money.
The number of pensioner mortgages in the UK is set to double in the next few years according to new research. The survey by the International Longevity Centre-UK (ILC-UK) predicted the total mortgage debt among the over 65s will increase from £20.1 billion to £39.9 billion by 2030.
Britain is facing a pensions time bomb according to the World Economic Forum (WEF), placing ‘impossible strain’ on our children and grandchildren. To solve the problem the Forum recommend the retirement age should be raised to 70 by the middle of the century – a much faster rate than the rise already planned by the …