Free banking (for those in credit) is not the birth-right of every Briton, but we treasure it as if it were. So can you imagine the fury if it ended? Even more so, if, when it happened, the Government said to the public: sorry, but it’s nothing to do with us. Yet this now seems … Read more
Now home buyers need to stump up 40 per cent deposits to get a mortgage as economic devastation from coronavirus threatens a new credit crunch TSB has withdrawn two-year mortgage deals with less than 40 per cent deposits Barclays has ended mortgages for borrowers with less than a 25 per cent deposit A Bank of … Read more
Misery for home-buyers as banks are set to axe even more mortgage deals Mortgage lenders are preparing to raise rates and tighten their requirements A fall in house and a winter jobs crisis could lead to fewer affordable loans available Experts fear it could mark the end of a ‘mini-boom’ in the housing market By … Read more
The Bank of England today insisted it is ‘by no means out of firepower’ and will respond ‘promptly and strongly’ to support the UK economy during the second wave of coronavirus. Governor Andrew Bailey said the Bank will be ready to act during a second and even third wave of the disease as and when … Read more
More than one million houses will sell by the end of the year as eager house buyers rush to cash-in on Rishi Sunak‘s stamp duty cuts. Real estate agent Savills said it expects around 1.06 million house sales across Britain in 2020 – with the market favouring established home owners and cash buyers. Further proving the country … Read more
Savers could soon have to pay to keep their money in a bank if negative interest rates are enforced. Many have suffered negligible rates for more than a decade and most high street banks now pay a pittance at 0.01 per cent. But experts last night said rewards for starved savers could fall even further … Read more
– What is stamp duty? The Stamp Duty Land Tax was introduced in its current form in December 2013 and applies to people who buy a property or land over a certain price in England and Northern Ireland. The previous threshold meant property costing over £125,000 is liable for the tax, although the 2017 Budget … Read more
Britain’s economy is on course for a rapid recovery from the coronavirus crisis, a senior Bank of England official predicts today. Chief economist Andy Haldane says strong consumer spending has already helped the UK claw back as much as half of the losses triggered by the pandemic. He insists ‘now is the time to see … Read more
‘There are signs of strength in the economy!’ Boris Johnson pumps iron as he urges Britons to help the recovery by going back to work in a ‘Covid secure way’ – amid fears a million jobs will go within months Boris Johnson visited a gym in his constituency to support local businesses The PM pumped … Read more
A million people could lose their jobs this year as unemployment hits 7.4 per cent and GDP slumps 9.5%- but the Covid economic downturn might NOT be as bad as feared, says the BofE The Bank of England has published its latest quarterly report on the UK economy By James Tapsfield, Political Editor For Mailonline … Read more