money

First-time buyers hit by surge in rents and house prices

First-time buyer house prices and rents have risen three times faster in the two years since the pandemic than before Covid hit as a property boom pushes property ownership further out of reach. Monthly rental payments are rising at the fastest rate ever recorded, according to Rightmove – increasing by 17pc since 2020, compared to …

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The electric car money-making myth that’s fooled thousands

In the early days of the electric vehicle rollout, drivers were told they could one day turn their cars into money-making machines by selling excess power they did not need. The Vehicle to Grid charging, or V2G, was marketed as a way for consumers to mitigate rising energy bills by buying cheap energy during periods …

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Why inflation will be a disaster for house prices

Inflation has soared to a new 40-year high of 9.4pc in June – and this brings a dangerous triple whammy for house prices. Plunging real wages are hitting buyers and homeowners’ pockets just as high inflation pushes the Bank of England to raise interest rates, which when combined, has drastically reduced people’s ability to afford …

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Cladding victims freed to sell up as banks agree to lend on crisis-hit flats

Six of Britain’s biggest banks agreed to offer mortgages on buildings with fire safety defects, freeing owners trapped in previously unsellable homes. Barclays, HSBC, Lloyds, Nationwide, NatWest and Santander will lend on flats in blocks with cladding, on the condition the properties are entitled to funding to fix safety faults. This is the first time …

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‘We’re asking our wedding guests to pay for our first home’

Kettles, toasters and towels were once the staples of a wedding gift list. But a new generation of couples are asking their guests for something a little more ambitious. Friends and family are now contributing towards a first home, acres of woodland and even a flock of sheep to celebrate nuptials. Kiran Kaur, 27, and …

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Property market ‘defies logic’ as house prices rise 13pc

House prices increased 13pc in the last year, the highest annual growth since 2004, as experts warned the property market was “defying logic”. Despite a cost-of-living crisis damaging household finances, house prices rose 1.8pc in the month to June in the biggest monthly rise since early 2007, according to lender Halifax. The monthly growth rate …

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