Credit, collections & insolvency news
New data analysis by Hargreaves Lansdown has found that in 2023/24, 30% of people had a mortgage, 35% owned outright, 19% rented privately (32% in London) and 16% rented from the social sector. The average weekly mortgage payment in England was £222. Outside London, it was £209 (up £47 in a year) and in London…
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Data sourced from millions of Barclays current accounts* reveals that consumer spending on rent and mortgage payments accelerated in April, reversing the encouraging slowdown in the first quarter of the year. Meanwhile, leaseholders are finding their housing costs compounded by high service charges and ground rents. To compensate, household spending on areas such as homewares,…
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The monthly housing costs for first-time buyers are now £115 (13%) lower than the cost of renting an equivalent home, and the difference could add up to more than £27,600 over a 25-year mortgage, according to analysis by Halifax. The Halifax Buying vs Renting Review is based on the housing costs associated with a mortgage…
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