Month: August 2020

Paying mum’s mortgage: how wealthy families are reversing the ‘Bank of Mum and Dad

The “Bank of Mum and Dad” – where parents give financial help to offspring – is being turned on its head in a new lending trend where middle-aged children are paying the mortgages taken out by their ageing parents. It seems counter-intuitive, but for a growing number of families it is a highly efficient way …

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Post-Brexit property market, house prices and interest rates:is now a good time to buy, sell or take out equity from your mortgage?

Following the surprise EU referendum result, the Bank of England has kept interest rates at 0.5 per cent, indicating that the economy and the UK property market is – for now – stronger than expected. However, a cut of 0.25 per cent is possible next month as the Bank expects a “significant weakening” of activity …

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Most affordable places for first-time buyers revealed

The most affordable – and the least affordable – places for first-time buyers have been revealed by the UK’s largest mortgage lender, the Halifax. Compared to local earnings, the cheapest places to buy are mostly in western Scotland and northern England. The most expensive are all in London. East Dunbartonshire, on the northern fringes of …

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