Housing & mortgage round up: Lloyds TSB to help 60,000 first time buyers, whilst housing market improves

Lloyds TSB to help 60,000 first time buyersNo house prices surveys this week but still plenty of news to report. This week saw a huge boost for first-time buyers as a major lender shows their commitment to this beleaguered group of would-be homeowners. Elsewhere there was good news for those people looking for signs that the housing market might finally be coming out of the doldrums....

Mortgages: How to help your children get onto the housing ladder

New research from HSBC and the Centre for Economics and Business Research (CEBR) has shown that one in five first time buyers needs help from their parents. In fact between 2008 and 2011, 100,000 first time buyers were helped by their parents. Since the credit crunch the number of high loan to value mortgage deals has shrunk significantly, most lenders now require at least a 10% deposit and the best deals are reserved for borrowers with even more to put down. So, if your children are caught in the ‘Catch 22’ of rising rental costs, meaning they can’t afford to save to ...

Retirement: Over 21 million people over 50 worse off because of Quantitative Easing

A new report has shown just how hard older generations in the UK have been hit by the economic downturn, and in particular, by the remedies prescribed by the government and the Bank of England. The report commissioned by Saga and carried out by the Centre for Economics and Business Research (CEBR) says that a combination of low interest rates, rising prices and Quantitative Easing (QE) has hit the over 50’s harder than any other group. Lower returns & rising inflation Our ...

Inflation falls sharply in December

As expected the rate of inflation fell sharply in December. Figures released today by the Office for National Statistics (ONS) show that the Consumer Prices Index (CPI) fell from 4.8% in November to 4.2% in December, mostly due to lower fuel and clothing prices. The Retail Prices Index (RPI), which includes mortgage interest payments, fell to 4.8% in December, from 5.2% in the previous month. The drop in the rate of CPI inflation is the largest fall since April 2009. Clothing, fuel and alcohol Clothing showed a price reduction of 2.8% in December as retailers cut prices to tempt shoppers to buy before Christmas. The cost ...