Bank of England figures show consumer borrowing up in July as coronavirus lockdown eased
Mortgage demand increased sharply and consumer borrowing rose for the first time in five months as the UK emerged from its Covid-19 lockdown in July, the Bank of England has said.
The latest Threadneedle Street data showed the number of new home loan approvals jumped from 39,900 in June to 66,300 in July.
Continue reading...The devil is in the detail, as the saying goes, and that is particularly true when it comes to service charges. People spend so much energy on landing the property they want and getting their finances sorted that they can often miss vital details in the small print. However, service charges should be an important […]
The post Ten tips to help you manage your property’s service charges appeared first on OnTheMarket.com blog.
Family and friends will support nearly one in four purchases in 2020, against one in five last year
Nearly one in four home purchases this year will be backed by the “bank of mum and dad” – up from fewer than one in five in 2019 – as buyers struggle with the economic fallout from the Covid-19 crisis.
Financial help provided by the bank of mum and dad, encompassing parents, grandparents, other family and friends, will be a driving force behind the recovery of Britain’s housing market. Those able to assist will lend an average of £20,000 towards a deposit on a home, said researchers from insurer Legal & General (L&G) and economics consultancy Cebr.
Continue reading...Home improvements are big business, with millions of homeowners opting to extend or upgrade their homes. Since 2013, some £40 billion has been spent on home improvements, according to research by NAEA Propertymark (formerly known as the National Association of Estate Agents), with redecorating, new flooring and garden landscaping the most popular options. Only 11 […]
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I can afford a 17-year loan, but as a super-cautious person I’d prefer a slight reduction in monthly outgoings
Q I am expecting to buy a small flat, for between £90,000 and £120,000 with a deposit of 15% – just before my 50th birthday. I will retire at 67.
Although I can comfortably afford the payments of a 17-year mortgage, as a super-cautious person, I would prefer a slight reduction in the monthly outgoings of a 20-year mortgage. I like to save and have a good amount of emergency money.
Continue reading...Often touted as an easy solution to overwatering, the practice of placing ice cubes in orchids has become a ‘comedy horticultural moment’
One piece of houseplant folklore resurfaces from time to time: that we should water our plants with ice cubes.
For years everything from Reader’s Digest to Reddit offered up ice cubes as the trick to keeping potted friends alive. Recently the theory has returned thanks to a pair of meme pages.
Continue reading...Often touted as an easy solution to overwatering, the practice of placing ice cubes in orchids has become a ‘comedy horticultural moment’
One piece of houseplant folklore resurfaces from time to time: that we should water our plants with ice cubes.
For years everything from Reader’s Digest to Reddit offered up ice cubes as the trick to keeping potted friends alive. Recently the theory has returned thanks to a pair of meme pages.
Continue reading...