Your Money

Your Money

Downsizing your home raises £97,722 on average in the UK and 43% do so to reduce bills.

17 November 2013

Your Money

Downsizing remains the main reason why people sell their home according to a report from Lloyds Bank. Some 43% of downsizers want a to move to a smaller property to help reduce bills while 37% say it will help support their retirement plans. The bank says that an average of £97,722 is raised by downsizing […]

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Remortgaging valuations at six year high

15 November 2013

Your Money

Remortgaging activity in 2013 is the highest it has been for six years, according to chartered surveyors Connells Survey & Valuation. The firm has calculated that in just the ten months to October, the number of remortgaging valuations arranged is 9% ahead of the previous annual record, set in 2007. In October itself, remortgaging also saw […]

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Repossessions set to fall below 30,000 for 2013 as numbers in arrears fall too

14 November 2013

Your Money

The number of people with mortgages arrears as well as the number of repossessions fell in the third quarter of the year. The Council of Mortgage Lenders says the proportion and number of borrowers behind with their payments fell across each of the arrears bands. A total of 149,400 mortgages, representing 1.33% of the entire […]

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Men more bullish than women on house price rises

8 November 2013

Your Money

Men are outpacing women in the confidence stakes when it comes to the potential future value of their home says new research from Clydesdale and Yorkshire Banks writes Philip Scott. The research found that more than half of men, at 54%, believe their property will increase in value over the next 12 months compared to […]

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Taking in a lodger helping 1.7 million British homeowners meet the bills

8 November 2013

Your Money

An estimated 1.7 million or 9 per cent of UK homeowners now have a lodger in their home, up from 6 per cent in 2011, according to research from Santander Mortgages. The ‘rent-a-room’ trend provides UK homeowners with over £3.3 billion per year in rental payments – an average of £164 per month for each recipient. […]

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Families and money – are you a family of talkers, gifters or avoiders?

8 November 2013

Personal Finance

More than a third of parents (35%) and two fifths (43%) of grandparents would not ask anyone within their family for advice about finances according to a new report The Family Financial Tree from Standard Life. Despite evidence that a large volume of money is moving freely between generations, only one in four people say […]

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House prices up 6.9% on last October says Halifax

6 November 2013

Your Money

House prices in October were 6.9% higher than in October last year according to the latest Halifax house price survey. Prices in the three months to October were 1.6% higher than in the previous three months although this rate is below the increases of 2.0-2.1% recorded in each of the previous four months. Commenting, Martin […]

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British Property Federation argues that imposing CGT for foreign buyers in London would do little to curb prices

31 October 2013

Property

The Government  may be planning to levy capital gains tax on foreign property investors – partly in a bid to cool down the London property market – Sky News reported this week. Now the British Property Federation has made the case for the Government to stay its hand. It argues that not only would hitting foreign […]

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Taking out a payday loan can “damage your chances of getting a mortgage”

30 October 2013

Your Money

As the number of potential home buyers increases, mortgage broker John Charcol has warned potential borrowers that taking out a payday loan can significantly damage their chances of getting a mortgage. Simon Collins of mortgage adviser John Charcol says: “You can’t turn on your TV these days without being offered a short term loan. Their […]

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More than 50% still wedded to their first bank

29 October 2013

Savings

More than half of consumers still have a current account with their very first bank and 45% have never thought of changing says new research. According to a survey from comparison site, MoneySuperMarket, 58% of consumers admit to still having their current account with the first ever bank they joined. In a poll of 1,692 […]

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