Economic Review February 2021

UK economy poised for recovery Although the latest gross domestic product (GDP) statistics revealed the UK suffered a record slump in 2020, there are now growing hopes the economy is on the cusp of recovery. Figures published by the Office for National Statistics (ONS), showed the UK endured a record fall in output last year … Continue reading “Economic Review February 2021”

SVR mortgage confusion costs homeowners over £4k

At least 1 in 4 mortgage holders are needlessly losing money every month by paying the maximum interest – and it could be many more. And yet it’s now relatively much cheaper to obtain a 5-year fixed rate mortgage for longer-term certainty. Over a quarter of homeowners with mortgages have ended up on their lender’s … Continue reading “SVR mortgage confusion costs homeowners over £4k”

Economic Review September 2020

Lockdown recovery fears Although the latest gross domestic product (GDP) statistics confirm the UK economy staged a recovery over the summer months, there are growing fears that tighter coronavirus restrictions will inevitably hit future growth prospects. Official data released by the Office for National Statistics (ONS) showed the UK economy grew by 6.6% in July. … Continue reading “Economic Review September 2020”

Remortgage to renovate: the new UK property trend

A growing number of homeowners are turning to remortgaging to release funds to improve their homes and raise their value. Meanwhile some lenders are seeing remortgagers as a safer prospect than new buyers, resulting in better deals becoming available. Being locked down at home has given millions more Brits a chance to notice the peeling … Continue reading “Remortgage to renovate: the new UK property trend”

Economic Review August 2020

FASTER REBOUND; SLOWER RECOVERY As recent economic statistics confirm the UK officially entered recession, Bank of England (BoE) forecasts suggest the slump will be less severe than previously thought, but the ensuing recovery is likely to take longer. Data released by the Office for National Statistics (ONS) showed the economy shrank by 20.4% between April … Continue reading “Economic Review August 2020”

Economic review – June 2020

‘New Deal’ to boost economy The Prime Minister has set out government plans to deliver a post-lockdown economic recovery, with a promise to accelerate £5bn worth of spending pledges on a range of infrastructure projects across the country. During a speech delivered at the Dudley College of Technology on 30 June, Mr Johnson promised to … Continue reading “Economic review – June 2020”

The UK property market freeze – what it means for you

The COVID-19 lockdown has put the UK’s housing market on hold. Find out what impact this could have on you, whether you’re hoping to buy, sell, move home or just remortgage – and how long it might last. The UK government has defied King Canute, and held back the UK’s most powerful tide: the property … Continue reading “The UK property market freeze – what it means for you”

First-time buyers keeping the market buoyant

The recent slowdown in the market has been good news for those who want to get into the housing market and make that all-important first purchase. Whilst the number of current owners moving home has come to a virtual standstill, due in part to the uncertainties surrounding Brexit, the number of first-timers has increased. Analysis … Continue reading “First-time buyers keeping the market buoyant”

What next for the global economy?

It was a disappointing beginning to 2018 for many major advanced economies. The UK endured a woeful start, with estimates suggesting gross domestic product (GDP) rose by just 0.1% in the first quarter, the weakest rate of growth since the final quarter of 2012. A similar picture of weakening growth emerged across the other major … Continue reading “What next for the global economy?”

How long should you fix your mortgage for?

Most new mortgages are fixed deals as home buyers try to beat potential interest rate rises – and there’s been an increase in how long people are fixing for. Nearly half (48%) of new mortgages were for fixes of longer than five years in the most recent figures analysed by mortgage provider Paragon. This is … Continue reading “How long should you fix your mortgage for?”