Page 6 - Vicky Shaw News Today

The sharp increase in borrowing costs is likely to exert a significant drag on near term housing market activity, Nationwide Building Society said.

Households made the the highest level of withdrawals from banks and building societies in May since monthly Bank of England records started in 1997.

The knock-on-impact of high inflation and frozen tax allowances may have pushed more people aged 65 and over into paying tax, experts suggested.

Scottish Widows’ national retirement forecast has been created to assess the potential retirement outcomes for people aged 22 to 65.

Zoopla said its view is that 5% mortgage rates represent a ‘tipping point’ for the housing market.

Fair4All Finance warned that illegal money lenders may present themselves as ‘friends’.

Around half of fraud and scam complaints to the ombudsman in 2022/23 were about authorised push payment scams.

(Alliance News, - More than four in 10, 42%, house sellers are having to shave more than 5% off the original asking price to achieve a sale, according to Zoopla, in signs that rising mortgage rates are dampening the market. The property website said thi...

(Alliance News) - UK Chancellor Jeremy Hunt said he has met industry leaders to discuss how the best returns for pension savers can be achieved

Lenders representing 85% of the mortgage market have signed up to the new charter to support customers.