The average cost of renting a home in England and Wales fell to £711 in December, 0.8 per cent lower than November’s average, according to LSL Property Services’ latest Buy-to-Let Index. December was the second consecutive month in which rental costs have fallen, but over 2011 as a whole, they showed an increase of 4 [...]
Rents are still increasing at a faster rate than salaries and the average rent is now a hefty £720 a month. However, the rate of increase has slowed, according to a survey by LSL Property Services, the owner of Your Move and Reeds Rains estate agencies. Rental costs have increased for nine consecutive months, but [...]
A survey by LSL Property Services has revealed rents in England and Wales continue to rise, with the average rent hitting almost £700 last month. May represented the fourth consecutive month that the average rental cost rose. According to LSL, the average rent stands at £696 – 4.4% higher than this time last year. However, [...]
A report by letting agency network LSL Property Services has revealed tenant demand has risen in recent weeks after April’s long bank holiday weekends and warm weather led to a surge in would-be tenants looking for property. According to the agency, rents grew by 0.8% in April to £692 per month compared with the previous [...]
A report from the homeless charity, Shelter, has revealed that in the last year, 2.6 million Britons have paid their mortgage or rent on their credit card. The figure represents a rise of 50% on the previous year and reveals the extraordinary lengths some are going to in order to keep a roof over their [...]
New research from Shelter suggests that in the past year, up to one million UK households have used credit cards to pay the mortgage or rent. According to the housing charity, the findings present a disturbing picture of up to a million people taking “desperate measures” to keep the roofs over their heads. The highest [...]
Abbey has been working out accommodation costs for potential first-time buyers currently in the rental sector and has discovered that for those living outside London, it is now cheaper to buy rather than rent. The good news is only for those who have managed to save a 25% deposit but nonetheless means that over than [...]
The lack of mortgages available to first time buyers is bumping up rents as would-be homeowners struggle to get a foot on the housing ladder, an industry expert claimed. Nicholas Leeming, director of propertyfinder.com, said the credit crunch is good news for landlords because it will inflate their income. “Rent levels have been recovering in [...]
Homeowners under threat of repossession and tenants on the brink of eviction have a new resource available at www.direct.gov.uk. The site now contains articles and videos prepared by the Ministry of Justice, aimed at informing people with both mortgage and rent arrears. The advice addresses a wide range of problems and is suitable for those [...]
The British Retail Consortium (BRC) has announced fears that yesterday was the toughest quarterly rents payments day for over 18 years. This is because the start of the year is usually the period where consumer spending is lowest and, coupled with the increased uncertainty caused by the credit crunch, the BRC has lead a campaign [...]
A report from the homeless charity, Shelter, has revealed that in the last year, over 4 million families have paid their mortgage or rent on their credit card. The report, called Breaking Point, reveals the extraordinary lengths some are going to during the current economic climate. The report also established that one in six is [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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