The number of mortgage approvals in the UK leapt by 8% in June – the first rise in five months following the introduction of more stringent borrowing tests.
According to the Bank of England, mortgage approvals totalled 67,196 in June, up from a month previously and above forecasts of 62,600.
This counters reports of a stuttering housing […]
Sometimes thinking of gift ideas for people can be an incredibly difficult procedure – especially in cases where the people concerned have not asked for anything in particular.
From birthday gifts to an alternative wedding present, there is a way to give without the associated struggle of finding the right item.
This reduces the likelihood of someone […]
Bank of England governor Mark Carney has expressed concerns that holding interest rates at a record low for too long could be damaging.
He said it encourages households to take on unaffordable levels of debt and said the Bank would act accordingly if it felt this issue was spiralling out of control.
Concerns over the potential for […]
Britain’s inflation rate increases hit a five-month high in June, after the consumer price index rose to 1.9% following rises in food and clothing prices.
While the rising rate has fuelled speculation that interest rates could also be set to increase, there is little sign yet of such a move by the Bank of England.
The figure […]
Post-recession Brits are wising up to the merits of putting a little aside to cover those unforeseen expenses. Figures from the Halifax show that savvy savers in the UK topped up their savings pot to the tune of £803 in the three months to July.
And when it comes to Brits’ savings priorities it seems that […]
Summer is the season of getting out and about and taking part in activities that help you make the most of the glorious summer sunshine.
And with summer wardrobes to organise and holidays to plan, many of us will be heading out on a shopping trip or two to ensure that we have everything we need […]
Interest rates in the UK are to be maintained at a record low of 0.5% for another month, the Bank of England has announced.
At the same time, the Bank’s quantitative easing plan was also left unchanged at £375m following a meeting of Bank officials.
Governor Mark Carney has hinted that rates could increase later this year […]
A growing number of people aged 50 or over are taking out student loans to pay for university degrees, according to the Student Loans Company.
This is despite a relatively low average retirement income, meaning careful financial management is required by those choosing to add to their education.
Even people in their 70s and 80s are turning […]
The minimum wage in the UK should vary by location, according to a new report from a commission studying how best to boost Britain’s economy.
According to the RSA City Growth Commission, economic conditions in different areas should be considered when calculating a reasonable minimum wage.
The commission wants to see minimum wages decided at a ‘metro’ […]
The British economy has returned to pre-recession strength earlier than was anticipated, suggesting it may not have been as bad as first feared.
New data from the Office for National Statistics, using new rules which come into force later this year, show an improvement of more than 1% on previous estimates.
Instead of shrinking by 5.2%, the […]