<p>With staggering deprivation, and swathes of wealth in Victorian suburbs, it’s arriving fashionably late to the regeneration party</p><p><strong>What’s going for it?</strong> Stockport? Yes. Stockport. Been <em>through</em> it countless times, gazing down from the viaduct in my Pendolino, at its odd, dramatic landscape, the deep Mersey valley, the Stockport Pyramid, <a href="http://www.merseyway.com/" title="">Merseyway shopping centre</a>, mill chimneys, all chucked together like a petulant child. Interesting. Must explore. And then, one day, I did. It’s a game of two halves. On the one hand, its deprivation can be staggering. On the other, swathes of wealth in Victorian suburbs such as Bramhall or Heaton Moor. Stockport’s misfortune was to bet its economy on hats and silk. Judging from the number of columns on the town hall and the size of those Victorian houses, some people made a lot of money. These days, the town is arriving fashionably late to the regeneration party. But it has plans: office parks, retail parks, creative quarters and futureproofing. Hubs, I’m sure, will feature. Its Victorian market is to become the next <a href="https://www.theguardian.com/lifeandstyle/2015/oct/18/ofm-awards-2015-best-market-altrincham" title="">Altrincham Market</a>. Its rather pretty old town has been restored. Watch this space.</p><p><strong>The case against</strong> Do not underestimate the scale of revival necessary. I hope it doesn’t ape Manchester’s bling economy too closely. Much of the centre is a swirl of infrastructure: learn to love flyovers.</p> <a href="https://www.theguardian.com/money/2018/apr/20/lets-move-stockport-greater-manchester">Continue reading...</a>

Let’s move to Stockport, Greater Manchester: ‘It’s a game of two halves’

Apr 20, 2018 16:30

With staggering deprivation, and swathes of wealth in Victorian suburbs, it’s arriving fashionably late to the regeneration party

What’s going for it? Stockport? Yes. Stockport. Been through it countless times, gazing down from the viaduct in my Pendolino, at its odd, dramatic landscape, the deep Mersey valley, the Stockport Pyramid, Merseyway shopping centre, mill chimneys, all chucked together like a petulant child. Interesting. Must explore. And then, one day, I did. It’s a game of two halves. On the one hand, its deprivation can be staggering. On the other, swathes of wealth in Victorian suburbs such as Bramhall or Heaton Moor. Stockport’s misfortune was to bet its economy on hats and silk. Judging from the number of columns on the town hall and the size of those Victorian houses, some people made a lot of money. These days, the town is arriving fashionably late to the regeneration party. But it has plans: office parks, retail parks, creative quarters and futureproofing. Hubs, I’m sure, will feature. Its Victorian market is to become the next Altrincham Market. Its rather pretty old town has been restored. Watch this space.

The case against Do not underestimate the scale of revival necessary. I hope it doesn’t ape Manchester’s bling economy too closely. Much of the centre is a swirl of infrastructure: learn to love flyovers.

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<p>Bank rate rise could cost average homebuyer an extra £138 each month on £175,00 mortgage</p><p>Interest rate rises may be gradual but they will not be glacial, Michael Saunders, a member of the Bank of England’s rate-setting committee has said, hinting that <a href="https://www.theguardian.com/business/2018/apr/20/michael-saunders-bank-monetary-policy-committee-uk-economy-interest-rates">homebuyers could see the base rate rise to 2% before long</a>. So what would happen to your mortgage (and savings) if and when rates are hiked?</p><p>The base rate is currently 0.5%, so a rise to 2% implies an extra 1.5 percentage points on your annual interest payments. While that sounds low, it is equal to an extra £138 a month if you are the average homebuyer with the typical mortgage in Britain of £175,000. </p> <a href="https://www.theguardian.com/money/2018/apr/20/what-would-base-rate-rise-mean-average-homebuyer-mortgage-repayment">Continue reading...</a>

What would a base rate rise to 2% mean for your mortgage?

Apr 20, 2018 16:01

Bank rate rise could cost average homebuyer an extra £138 each month on £175,00 mortgage

Interest rate rises may be gradual but they will not be glacial, Michael Saunders, a member of the Bank of England’s rate-setting committee has said, hinting that homebuyers could see the base rate rise to 2% before long. So what would happen to your mortgage (and savings) if and when rates are hiked?

The base rate is currently 0.5%, so a rise to 2% implies an extra 1.5 percentage points on your annual interest payments. While that sounds low, it is equal to an extra £138 a month if you are the average homebuyer with the typical mortgage in Britain of £175,000.

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<p>These properties may be small, but they’re packed with character – and in one case, have their own model village</p> <a href="https://www.theguardian.com/money/gallery/2018/apr/20/the-best-tiny-homes-for-sale-in-pictures">Continue reading...</a>

The best tiny homes for sale – in pictures

Apr 20, 2018 7:00

These properties may be small, but they’re packed with character – and in one case, have their own model village

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<p>Battersea residents told upgrade, including combustible panel replacement, will not be met by Astor management firm</p><p>Residents of 80 flats whose freeholds are managed by a company owned by David Cameron’s half brother-in-law are each facing bills of up to £40,000 because the building is clad with flammable panels similar to those used on Grenfell Tower, in London.</p><p>Leaseholders of the <a href="https://www.buildington.co.uk/london-sw11/holman-road/sesame-apartments/id/3423">Sesame apartments</a> in Battersea, south London, fear they are trapped in unsellable homes and William Astor’s company claims it is not responsible for the costs. </p> <a href="https://www.theguardian.com/uk-news/2018/apr/19/leaseholders-of-flats-face-40000-bills-over-grenfell-type-cladding">Continue reading...</a>

Leaseholders of flats face £40,000 bills over Grenfell type cladding

Apr 19, 2018 18:53

Battersea residents told upgrade, including combustible panel replacement, will not be met by Astor management firm

Residents of 80 flats whose freeholds are managed by a company owned by David Cameron’s half brother-in-law are each facing bills of up to £40,000 because the building is clad with flammable panels similar to those used on Grenfell Tower, in London.

Leaseholders of the Sesame apartments in Battersea, south London, fear they are trapped in unsellable homes and William Astor’s company claims it is not responsible for the costs.

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<p>We plan to build genuinely affordable homes for the millions of people priced out of the system</p><p>The housing market is broken, and, after eight long years it is clear that current Conservative housing policy is failing to fix it. Ministers talk big about housebuilding targets to be reached some time in the next decade. But what new homes we build, and who they’re for, matter just as much as how many we build.</p><p>To make housing more affordable, we need to build more affordable homes, and to hardwire housing affordability through the system, from planning to funding to delivery. The public know this: eight in 10 people think ministers should be doing more to get affordable housing built.</p> <a href="https://www.theguardian.com/commentisfree/2018/apr/19/britain-housing-market-broken-labour-council-houses">Continue reading...</a>

Britain’s housing market is broken. Here’s how Labour will fix it | John Healey

Apr 19, 2018 6:31

We plan to build genuinely affordable homes for the millions of people priced out of the system

The housing market is broken, and, after eight long years it is clear that current Conservative housing policy is failing to fix it. Ministers talk big about housebuilding targets to be reached some time in the next decade. But what new homes we build, and who they’re for, matter just as much as how many we build.

To make housing more affordable, we need to build more affordable homes, and to hardwire housing affordability through the system, from planning to funding to delivery. The public know this: eight in 10 people think ministers should be doing more to get affordable housing built.

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<p>Committee calls on government to give local councils power to punish ‘most egregious offences’</p><p>Rogue landlords should have their properties confiscated by local councils, according to a cross-party report from MPs into Britain’s private rented sector. Current financial penalties are “meaningless” in deterring the worst, criminal offenders among landlords, according to the housing, communities and local government committee.</p><p>The committee also called for greater protection for tenants from evictions, rent increases and harassment, noting that 800,000 private rented homes suffer from excess cold, mould or faulty wiring. However, it made no recommendations for rent controls.</p> <a href="https://www.theguardian.com/money/2018/apr/19/rogue-landlords-should-have-properties-confiscated-mp-report">Continue reading...</a>

Rogue landlords should have properties confiscated – MPs report

Apr 19, 2018 0:01

Committee calls on government to give local councils power to punish ‘most egregious offences’

Rogue landlords should have their properties confiscated by local councils, according to a cross-party report from MPs into Britain’s private rented sector. Current financial penalties are “meaningless” in deterring the worst, criminal offenders among landlords, according to the housing, communities and local government committee.

The committee also called for greater protection for tenants from evictions, rent increases and harassment, noting that 800,000 private rented homes suffer from excess cold, mould or faulty wiring. However, it made no recommendations for rent controls.

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<p>Fragments of a less salubrious past hold on for dear life amid the swank</p><p><strong>What’s going for it?</strong> Of all the remarkable transformations in supergentrified London, that of King’s Cross is the most astonishing. I can <em>just</em> remember what it was, dim memories of jigging at its warehouse clubs in the 90s. Before my time, there’s always <a href="https://www.theguardian.com/film/2015/jul/26/long-good-friday-mona-lisa-dvd-review-philip-french">Mona Lisa</a> (the film) and reruns of <a href="https://www.theguardian.com/tv-and-radio/2013/feb/14/the-sweeney-box-set">The Sweeney</a> to recreate the area’s prostitution and darkness, its dripping railway arches and encrusted tenements. Railway stations used to blight areas, their comings and goings attracting the kind of untrustworthy spivs who try to terrorise the older women in <a href="https://www.theguardian.com/film/2015/oct/25/ladykillers-classic-dvd-review-philip-french">The Ladykillers</a>. Nowadays they’re “hubs”, their sleek bars and delis paused in by commuters off to Potters Bar, their luxury apartments paused in by tech millionaires off to Singapore. We all come and go these days. Fragments of a less salubrious past, though, remain, holding on for dear life amid the swank, like <a href="http://www.housmans.com/">Housman’s radical bookshop</a> and the glorious <a href="http://www.wildlondon.org.uk/reserves/camley-street-natural-park">Camley Street nature reserve</a>, offering alternative utopias had history here taken a different path.</p><p><strong>The case against </strong>The thundering traffic and choking pollution of Euston and Pentonville roads. When <a href="https://www.theverge.com/2017/6/1/15723642/google-london-office-pictures-headquarters-kings-cross">Google’s HQ</a> is finished, expect the neighbourhood’s transformation to be complete. Eyewateringly expensive, mostly.</p> <a href="https://www.theguardian.com/money/2018/apr/13/move-to-kings-cross-london">Continue reading...</a>

Let’s move to King’s Cross, London: a most astonishing transformation

Apr 13, 2018 16:30

Fragments of a less salubrious past hold on for dear life amid the swank

What’s going for it? Of all the remarkable transformations in supergentrified London, that of King’s Cross is the most astonishing. I can just remember what it was, dim memories of jigging at its warehouse clubs in the 90s. Before my time, there’s always Mona Lisa (the film) and reruns of The Sweeney to recreate the area’s prostitution and darkness, its dripping railway arches and encrusted tenements. Railway stations used to blight areas, their comings and goings attracting the kind of untrustworthy spivs who try to terrorise the older women in The Ladykillers. Nowadays they’re “hubs”, their sleek bars and delis paused in by commuters off to Potters Bar, their luxury apartments paused in by tech millionaires off to Singapore. We all come and go these days. Fragments of a less salubrious past, though, remain, holding on for dear life amid the swank, like Housman’s radical bookshop and the glorious Camley Street nature reserve, offering alternative utopias had history here taken a different path.

The case against The thundering traffic and choking pollution of Euston and Pentonville roads. When Google’s HQ is finished, expect the neighbourhood’s transformation to be complete. Eyewateringly expensive, mostly.

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<p>It’s a monied, country casuals kind of place</p><p><strong>What’s going for it?</strong> Centuries ago, Tenterden was a port, the estuarine tentacles of the sea creeping up the squelchy Rother valley with the tides from <a href="https://www.theguardian.com/money/2016/dec/02/lets-move-rye-east-sussex-tom-dyckhoff">Rye</a> to Small Hythe. These days the town is beached in the gentle hills and high hedges of Kent’s High Weald – though you never know, climate change may in time resurrect its long-dead shipbuilding industry. For now, at least, there is not a whiff of ozone in the spring air. Instead, Tenterden is all budding hop trellises and grapevines: much of the <a href="https://www.visitkent.co.uk/tenterden-wine-trail/">UK’s booming wine industry</a> is nearby – climate change again. It’s a monied, country casuals kind of place, with a pretty townscape of verges, trees and a who’s who of architectural styles, mostly ignored by coach parties thanks to its relative isolation off the beaten track – high on retirees (see below) and prep schools, low on thrills. Though I have been known to utter a yelp when the steam trains on the <a href="http://www.kesr.org.uk/">Kent &amp; East Sussex Railway</a> brake too abruptly.</p><p><strong>The case against</strong> Rather conservative, culturally and politically, and expensive with it.</p> <a href="https://www.theguardian.com/money/2018/apr/06/lets-move-tenterden-hop-trellises-grapevines">Continue reading...</a>

Let’s move to Tenterden, Kent: ‘Home of the booming British wine industry'

Apr 6, 2018 16:29

It’s a monied, country casuals kind of place

What’s going for it? Centuries ago, Tenterden was a port, the estuarine tentacles of the sea creeping up the squelchy Rother valley with the tides from Rye to Small Hythe. These days the town is beached in the gentle hills and high hedges of Kent’s High Weald – though you never know, climate change may in time resurrect its long-dead shipbuilding industry. For now, at least, there is not a whiff of ozone in the spring air. Instead, Tenterden is all budding hop trellises and grapevines: much of the UK’s booming wine industry is nearby – climate change again. It’s a monied, country casuals kind of place, with a pretty townscape of verges, trees and a who’s who of architectural styles, mostly ignored by coach parties thanks to its relative isolation off the beaten track – high on retirees (see below) and prep schools, low on thrills. Though I have been known to utter a yelp when the steam trains on the Kent & East Sussex Railway brake too abruptly.

The case against Rather conservative, culturally and politically, and expensive with it.

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<p>Warrington is a spaghetti junction of infrastructure. You can get everywhere from it</p><p><strong>What’s going for it?</strong> Warrington’s got connections. It may not have the cachet or the name of some of its neighbours – Chester, say, <a href="https://www.theguardian.com/money/2012/apr/20/lets-move-to-altrincham-hale">Altrincham</a>, or the so-called “golden triangle” between Knutsford, Wilmslow and Alderley Edge. Its grand civic buildings and occasional redbrick Georgian townhouses hint at a past more illustrious than the present, which is mostly a tough, unglamorous affair of Primarks and retail parks, megapubs and dual carriageways (though there’s glamour aplenty on the streets on an average Friday night). No, Warrington’s USP, ever since the Romans crossed the river Mersey here, is its geography. You can get everywhere from it. OK, Builth Wells may be a struggle, but, girdled with three motorways, crisscrossed by two major rail lines and with the Mersey, <a href="https://www.theguardian.com/commentisfree/video/2013/jun/03/manchester-ship-canal-video">Manchester Ship Canal</a> and Bridgewater Canal for those taking it slower, Warrington is a spaghetti junction of infrastructure. Which is why logistics companies, such as Amazon, plonk their sheds here, and why the canny live here, with its great schools and excellent property, at a fraction of the price of their neighbours in posher climes.</p><p><strong>The case against</strong> Canal walks aside, it’s not a looker. You can winkle out the odd independent store or cultural hotspot, like <a href="https://www.dayoutwiththekids.co.uk/walton-hall-and-gardens">Walton Hall</a>, but they’re not the main attraction.</p> <a href="https://www.theguardian.com/money/2018/mar/30/lets-move-to-warrington-cheshire-property">Continue reading...</a>

Let’s move to Warrington, Cheshire: ‘It's where the canny live'

Mar 30, 2018 16:30

Warrington is a spaghetti junction of infrastructure. You can get everywhere from it

What’s going for it? Warrington’s got connections. It may not have the cachet or the name of some of its neighbours – Chester, say, Altrincham, or the so-called “golden triangle” between Knutsford, Wilmslow and Alderley Edge. Its grand civic buildings and occasional redbrick Georgian townhouses hint at a past more illustrious than the present, which is mostly a tough, unglamorous affair of Primarks and retail parks, megapubs and dual carriageways (though there’s glamour aplenty on the streets on an average Friday night). No, Warrington’s USP, ever since the Romans crossed the river Mersey here, is its geography. You can get everywhere from it. OK, Builth Wells may be a struggle, but, girdled with three motorways, crisscrossed by two major rail lines and with the Mersey, Manchester Ship Canal and Bridgewater Canal for those taking it slower, Warrington is a spaghetti junction of infrastructure. Which is why logistics companies, such as Amazon, plonk their sheds here, and why the canny live here, with its great schools and excellent property, at a fraction of the price of their neighbours in posher climes.

The case against Canal walks aside, it’s not a looker. You can winkle out the odd independent store or cultural hotspot, like Walton Hall, but they’re not the main attraction.

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<p>Downshifting Generation X-ers and millennials are moving in and I suspect they won’t be entirely satisfied by sweet sherry</p><p><strong>What’s going for it? </strong>I’m sure lots of dirty – even depraved – things go on in Eastbourne, but you’d never know it. The only time it threatened to get “a reputation” was in the 1950s, when local GP John Bodkin Adams went on trial for allegedly murdering elderly patients, but he was found not guilty. A close shave. Like its most famous daughter, Theresa May, the town has perfected its poker face. Chaos may reign, but the facade remains resolute. Perhaps at 7pm after a sherry or five, Eastbourne erupts into twerking and Jägerbombs. On the surface, though, it’s all gentle pleasures, high hedges and municipal borders, <a href="https://www.theguardian.com/books/2011/apr/30/eric-ravilious-painting-landscape-watercolour">Eric Ravilious </a>and toasted teacakes, and that astonishingly beautiful waterfront. It leaves the showing off to its neighbour round the corner, Brighton. Things, though, may be changing. Eastbourne’s gentleness has long attracted retirees; but its population is getting younger. Downshifting Generation X-ers and millennials are moving in and I suspect they won’t be entirely satisfied by sweet sherry. Eastbourne may get racy.</p><p><strong>The case against</strong> Thanks to miasmas gusting across the Channel, Eastbourne is one of the UK’s worst towns for particulate pollution. Most of it is delightful, but the stretch around the Arndale Centre is rather dreary.</p> <a href="https://www.theguardian.com/money/2018/mar/23/lets-move-to-eastbourne-east-sussex">Continue reading...</a>

Let’s move to Eastbourne, East Sussex: ‘Things may be changing’

Mar 23, 2018 16:29

Downshifting Generation X-ers and millennials are moving in and I suspect they won’t be entirely satisfied by sweet sherry

What’s going for it? I’m sure lots of dirty – even depraved – things go on in Eastbourne, but you’d never know it. The only time it threatened to get “a reputation” was in the 1950s, when local GP John Bodkin Adams went on trial for allegedly murdering elderly patients, but he was found not guilty. A close shave. Like its most famous daughter, Theresa May, the town has perfected its poker face. Chaos may reign, but the facade remains resolute. Perhaps at 7pm after a sherry or five, Eastbourne erupts into twerking and Jägerbombs. On the surface, though, it’s all gentle pleasures, high hedges and municipal borders, Eric Ravilious and toasted teacakes, and that astonishingly beautiful waterfront. It leaves the showing off to its neighbour round the corner, Brighton. Things, though, may be changing. Eastbourne’s gentleness has long attracted retirees; but its population is getting younger. Downshifting Generation X-ers and millennials are moving in and I suspect they won’t be entirely satisfied by sweet sherry. Eastbourne may get racy.

The case against Thanks to miasmas gusting across the Channel, Eastbourne is one of the UK’s worst towns for particulate pollution. Most of it is delightful, but the stretch around the Arndale Centre is rather dreary.

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<p>I’m 29, earn £25,000 and am wondering if I could replace the mortgage with a buy-to-let loan</p><p><strong>Q</strong> I currently own a house in my hometown in which my mum and younger brother have lived since she separated from my stepdad. I bought the house in 2012 for £115,000, it’s now worth £135,000 and there is £80,000 left on the mortgage.</p><p>Originally I lived in the house and commuted but since my family moved in I started renting a place near to my work. My mum has been paying rent all the time she and my brother have lived there. </p> <a href="https://www.theguardian.com/money/2018/apr/16/own-house-family-buy-flat-mortgage-buy-to-let">Continue reading...</a>

I own a house that my family live in – can I keep it and buy a flat?

Apr 16, 2018 9:19

I’m 29, earn £25,000 and am wondering if I could replace the mortgage with a buy-to-let loan

Q I currently own a house in my hometown in which my mum and younger brother have lived since she separated from my stepdad. I bought the house in 2012 for £115,000, it’s now worth £135,000 and there is £80,000 left on the mortgage.

Originally I lived in the house and commuted but since my family moved in I started renting a place near to my work. My mum has been paying rent all the time she and my brother have lived there.

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<p>My daughter owns 40% of the flat so surely her association should charge her fees based on her share?</p><p><strong>Q </strong>Two years ago, my daughter and her partner bought a 40% share in a shared-ownership housing association flat in Hackney, east London. Her company is relocating so they are having to sell their share. Buying this way was their only option in London to get on the property ladder as is the case with many young people. <br></p><p>My question relates to the marketing costs the housing association is allowed to charge for their services when the share is sold. Of course it is reasonable that the seller should pick up the bill for the housing association’s legal fees as the sellers started the selling process. But surely the housing association should not be allowed to charge their percentage marketing fee on the full value of the flat rather than on the sellers’ share? In my daughter’s case the flat is valued at £590,000 meaning that her 40% share is worth £280,000. But the housing association says that if it finds a new buyer it will charge a marketing fee of 1.25% of the full valuation of £590,000, which would mean a fee of £7,375 which seems like daylight robbery to me. If it was charged on the value of my daughter’s share the marketing fee would be only £3,500. <strong>PC</strong></p> <a href="https://www.theguardian.com/money/2018/apr/09/housing-association-charges-100-fees-for-selling-a-shared-ownership-flat">Continue reading...</a>

Housing association charges 100% fees for selling a shared-ownership flat

Apr 9, 2018 7:00

My daughter owns 40% of the flat so surely her association should charge her fees based on her share?

Q Two years ago, my daughter and her partner bought a 40% share in a shared-ownership housing association flat in Hackney, east London. Her company is relocating so they are having to sell their share. Buying this way was their only option in London to get on the property ladder as is the case with many young people.

My question relates to the marketing costs the housing association is allowed to charge for their services when the share is sold. Of course it is reasonable that the seller should pick up the bill for the housing association’s legal fees as the sellers started the selling process. But surely the housing association should not be allowed to charge their percentage marketing fee on the full value of the flat rather than on the sellers’ share? In my daughter’s case the flat is valued at £590,000 meaning that her 40% share is worth £280,000. But the housing association says that if it finds a new buyer it will charge a marketing fee of 1.25% of the full valuation of £590,000, which would mean a fee of £7,375 which seems like daylight robbery to me. If it was charged on the value of my daughter’s share the marketing fee would be only £3,500. PC

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<p>I’m 26 and earn just over £20,000, so a buy-to-let mortgage would be a big undertaking</p><p><strong>Q</strong> I have inherited my grandmother’s house (which an estate agent has valued at £160,000 at the most), while my brother also inherited another small property that she had been renting out before she died. She was blind during the last few years of her life and her friend took over all her financial affairs. Sadly he mismanaged these and a large amount of unpaid tax and other fees were due to be paid after her death. Luckily a friend stepped in and lent us the £43,000 needed to pay this off and allow us to inherit the properties. I therefore need to raise money to pay half of what we owe this friend, plus £10,0000 to £15,000 to bring the house up to a suitable condition to rent out or sell as it has been empty quite a while. I’ll also need several thousand pounds more to repair my mother’s home, which is in a bad state of repair. The question is whether this money should come through a mortgage or the sale of the property? Friends and family seem to have such differing views on the matter, which makes me very anxious.</p><p>The house is up in Perth in Scotland, but I currently live and work in London and don’t have plans to move back there anytime soon. I’m 26 and earn just over £20,000, so a mortgage would be a significant undertaking. However, as I understand it I could get a buy-to-let mortgage if I am receiving rental income of course. Would it be better to raise a mortgage and let it out via an agent (perhaps I should get a mortgage now since I will undoubtedly wish to get on the property ladder at some point) or should I sell and put the money in the bank where it might earn less, but could be a safer, hassle-free option? </p> <a href="https://www.theguardian.com/money/2018/apr/02/ive-inherited-a-house-should-i-sell-it-or-repair-it-and-rent-it-out">Continue reading...</a>

I've inherited a house – should I sell it or repair it and rent it out?

Apr 2, 2018 7:00

I’m 26 and earn just over £20,000, so a buy-to-let mortgage would be a big undertaking

Q I have inherited my grandmother’s house (which an estate agent has valued at £160,000 at the most), while my brother also inherited another small property that she had been renting out before she died. She was blind during the last few years of her life and her friend took over all her financial affairs. Sadly he mismanaged these and a large amount of unpaid tax and other fees were due to be paid after her death. Luckily a friend stepped in and lent us the £43,000 needed to pay this off and allow us to inherit the properties. I therefore need to raise money to pay half of what we owe this friend, plus £10,0000 to £15,000 to bring the house up to a suitable condition to rent out or sell as it has been empty quite a while. I’ll also need several thousand pounds more to repair my mother’s home, which is in a bad state of repair. The question is whether this money should come through a mortgage or the sale of the property? Friends and family seem to have such differing views on the matter, which makes me very anxious.

The house is up in Perth in Scotland, but I currently live and work in London and don’t have plans to move back there anytime soon. I’m 26 and earn just over £20,000, so a mortgage would be a significant undertaking. However, as I understand it I could get a buy-to-let mortgage if I am receiving rental income of course. Would it be better to raise a mortgage and let it out via an agent (perhaps I should get a mortgage now since I will undoubtedly wish to get on the property ladder at some point) or should I sell and put the money in the bank where it might earn less, but could be a safer, hassle-free option?

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<p>It’s worth looking at options such as equity release mortgages that could help you stay in your home</p><p> <strong>Q</strong> My wife and I are stuck. We live in a house that we’ve had for 25 years and our interest-only mortgage is due for repayment in six months’ time. Our lenders are being very decent about a possible short-term extension. But our plan of getting a remortgage in my wife’s name (she’s young enough to get a repayment mortgage) has come a cropper. Nobody, it seems, will give her a mortgage without me being on the mortgage too. But I’m 64, ill and have an IVA cleared about 13 years ago. Because of my age and poor credit history, I believe any joint applications will fail. If she were buying a property on her own, there would be no problem.</p><p>I simply don’t know what to do. It seems that we will be forced to buy something else when we don’t want to. Can you suggest anything? It seems to stump everyone and it’s manifestly daft. <strong>SC</strong></p> <a href="https://www.theguardian.com/money/2018/mar/19/64-poor-credit-history-remortgage-equity-release-mortgages">Continue reading...</a>

I’m 64 with a poor credit history – how can I remortgage?

Mar 19, 2018 7:00

It’s worth looking at options such as equity release mortgages that could help you stay in your home

Q My wife and I are stuck. We live in a house that we’ve had for 25 years and our interest-only mortgage is due for repayment in six months’ time. Our lenders are being very decent about a possible short-term extension. But our plan of getting a remortgage in my wife’s name (she’s young enough to get a repayment mortgage) has come a cropper. Nobody, it seems, will give her a mortgage without me being on the mortgage too. But I’m 64, ill and have an IVA cleared about 13 years ago. Because of my age and poor credit history, I believe any joint applications will fail. If she were buying a property on her own, there would be no problem.

I simply don’t know what to do. It seems that we will be forced to buy something else when we don’t want to. Can you suggest anything? It seems to stump everyone and it’s manifestly daft. SC

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<p>If you already own a home, the 0% SDLT rate for transactions up to £125,000 no longer applies</p><p> <strong>Q</strong> My sister and I have each inherited a 50% share of a property valued at £120,000. I have agreed to buy my sister’s share from her for £60,000. The solicitor who has done the transfer conveyancing has told me I have to pay £1,800 stamp duty. Could you tell me if that is correct? <strong>GG</strong></p><p><strong>A</strong> Assuming that you already own property, yes, that is correct. You are being charged 3% which is the higher rate of stamp duty land tax (SDLT) for transactions up to £125,000 which result in multiple property ownership. It would be the same if you owned a home and bought a second one or a buy-to-let property costing more than £40,000.</p> <a href="https://www.theguardian.com/money/2018/mar/12/stamp-duty-share-property-inherited-sdlt">Continue reading...</a>

Do I have to pay stamp duty to buy my sister's share of a property?

Mar 12, 2018 12:04

If you already own a home, the 0% SDLT rate for transactions up to £125,000 no longer applies

Q My sister and I have each inherited a 50% share of a property valued at £120,000. I have agreed to buy my sister’s share from her for £60,000. The solicitor who has done the transfer conveyancing has told me I have to pay £1,800 stamp duty. Could you tell me if that is correct? GG

A Assuming that you already own property, yes, that is correct. You are being charged 3% which is the higher rate of stamp duty land tax (SDLT) for transactions up to £125,000 which result in multiple property ownership. It would be the same if you owned a home and bought a second one or a buy-to-let property costing more than £40,000.

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You can navigate your way through what can be a long and complex process by following these steps<p>Buying a home can be a long and complex process, but typically it involves going through these steps:</p> <a href="https://www.theguardian.com/money/2014/nov/24/factsheet-buying-home-property">Continue reading...</a>

Factsheet: Buying a home

Nov 24, 2014 14:10

You can navigate your way through what can be a long and complex process by following these steps

Buying a home can be a long and complex process, but typically it involves going through these steps:

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'How to' guides for a wide variety of personal finance issues including: claiming benefits, taking out a loan, interest rates, buying a house, insurance, pensions, savings and tax<p><a href="http://www.theguardian.com/money/2007/oct/25/state.pensions">State pensions</a><br><a href="http://www.theguardian.com/money/2008/sep/11/taxcredits.familyfinance">Tax credits</a></p> <a href="https://www.theguardian.com/money/2013/nov/20/money-factsheets-benefits-loans-interest-rates-buying-house-insurance-pensions-savings">Continue reading...</a>

Money factsheets: How to organise your finances

Nov 20, 2013 12:35

'How to' guides for a wide variety of personal finance issues including: claiming benefits, taking out a loan, interest rates, buying a house, insurance, pensions, savings and tax

State pensions
Tax credits

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<p>There’s plenty of space for the generations in these properties, located from Cornwall to Country Durham<br></p> <a href="https://www.theguardian.com/money/gallery/2018/apr/13/homes-with-an-annexe-in-pictures">Continue reading...</a>

Homes with an annexe – in pictures

Apr 13, 2018 7:00

There’s plenty of space for the generations in these properties, located from Cornwall to Country Durham

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<p>These properties offer spectacular views across stunning landscapes, from Yorkshire to Worcestershire</p> <a href="https://www.theguardian.com/money/gallery/2018/apr/06/the-best-hillside-homes-in-pictures">Continue reading...</a>

The best hillside homes – in pictures

Apr 6, 2018 7:00

These properties offer spectacular views across stunning landscapes, from Yorkshire to Worcestershire

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<p>When space is limited, it’s best to build up. Luckily at these properties the architect already thought of that for you</p> <a href="https://www.theguardian.com/money/gallery/2018/mar/30/homes-in-towers-in-pictures">Continue reading...</a>

Homes in towers – in pictures

Mar 30, 2018 7:00

When space is limited, it’s best to build up. Luckily at these properties the architect already thought of that for you

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<p><strong>Saltwell Gill, Durham city:</strong> A swathe of wildlings in a wood was a spectacle to make the spirits soar after a long, cold winter</p><p>This meandering stream, <a href="https://www.thisisdurham.com/whats-on/guided-walks-the-oldest-borehole-in-the-town-history-and-geology-in-saltwell-gill-p934291">a mile south of the city centre</a>, has carved a small, steep-sided, wooded valley through soft alluvial soil, providing a refuge for flora and fauna that have long since been displaced by surrounding agriculture. Had I not strayed from the footpath around the fields and explored its slopes I might never have stumbled upon a hidden, isolated population of wild primroses (<em><a href="https://en.wikipedia.org/wiki/Primula_vulgaris">Primula vulgaris</a></em>). They were growing in an unharvested hazel coppice that, judging by the diameter of the trunks, had been forgotten for several decades. </p><p>Context counts for a lot in the aesthetic impact of wild flowers. A primrose transplanted into a garden is a pretty flower. Finding this swathe of wildlings in such a classic, albeit semi-natural, habitat, soon to be followed by the promise of bluebells, was much more: a spectacle to make the spirits soar after a long, cold winter.</p> <a href="https://www.theguardian.com/environment/2018/apr/19/country-diary-primroses-durham-city">Continue reading...</a>

Country diary: primroses are so much more than pretty flowers

Apr 19, 2018 10:26

Saltwell Gill, Durham city: A swathe of wildlings in a wood was a spectacle to make the spirits soar after a long, cold winter

This meandering stream, a mile south of the city centre, has carved a small, steep-sided, wooded valley through soft alluvial soil, providing a refuge for flora and fauna that have long since been displaced by surrounding agriculture. Had I not strayed from the footpath around the fields and explored its slopes I might never have stumbled upon a hidden, isolated population of wild primroses (Primula vulgaris). They were growing in an unharvested hazel coppice that, judging by the diameter of the trunks, had been forgotten for several decades.

Context counts for a lot in the aesthetic impact of wild flowers. A primrose transplanted into a garden is a pretty flower. Finding this swathe of wildlings in such a classic, albeit semi-natural, habitat, soon to be followed by the promise of bluebells, was much more: a spectacle to make the spirits soar after a long, cold winter.

Continue reading...

<p><strong>Claxton, Norfolk:</strong> Intense blue spikes have covered half the lawn – but we can claim little credit for this</p><p>This spring I’ve been amused by our wild violets, which have spread suddenly across one half of the lawn. For anyone who has never met them, they are an absolute joy. Each flowering spike bears an asymmetrical corolla that comprises five petals of the most intense purple. Down the throat of the central spur is a delicious little nectary that bees apparently find irresistible. </p><p>If I crouch to sniff, it also yields this gentle odour, from which I judge them to be sweet violets, <em>Viola odorata</em>, the one common species in the family that has such a scent. It is highly evocative, bringing to mind my childhood when we used to buy those tubes of purplish sugar known as Parma Violets (a Derbyshire speciality, manufactured in New Mills).</p> <a href="https://www.theguardian.com/environment/2018/apr/17/country-diary-wild-violets-are-an-absolute-joy-to-us-and-the-bees">Continue reading...</a>

Country diary: wild violets are an absolute joy, to us and the bees

Apr 17, 2018 5:30

Claxton, Norfolk: Intense blue spikes have covered half the lawn – but we can claim little credit for this

This spring I’ve been amused by our wild violets, which have spread suddenly across one half of the lawn. For anyone who has never met them, they are an absolute joy. Each flowering spike bears an asymmetrical corolla that comprises five petals of the most intense purple. Down the throat of the central spur is a delicious little nectary that bees apparently find irresistible.

If I crouch to sniff, it also yields this gentle odour, from which I judge them to be sweet violets, Viola odorata, the one common species in the family that has such a scent. It is highly evocative, bringing to mind my childhood when we used to buy those tubes of purplish sugar known as Parma Violets (a Derbyshire speciality, manufactured in New Mills).

Continue reading...

<p>Plenty of people, according to Phil Nuytten, the man who has designed and plans to build a city beneath the waves</p><p>Phil Nuytten first decided he wanted to spend his life underwater when he was six years old. It was 1947. The Second World War had only recently ended. Nuytten’s dad had scored a job at Boeing, and the firm’s office in Vancouver Harbour was just a short walk away from the family home. Every now and then Nuytten would waltz down to the harbour unaccompanied, sneak out to the end of the docks, peer through the cracks and fall hopelessly in love with what he saw: fish, anemones, a teeming underworld. “I used to think: ‘Gosh, wouldn’t it be wonderful to go down there?’” he says. “To go down to that particular place?”</p><p>I used to think, ‘Gosh, wouldn’t it be wonderful to go down there, to that particular place?'</p> <a href="https://www.theguardian.com/global/2018/apr/15/who-would-like-to-live-under-the-sea">Continue reading...</a>

Who’d like to live under the sea?

Apr 15, 2018 8:00

Plenty of people, according to Phil Nuytten, the man who has designed and plans to build a city beneath the waves

Phil Nuytten first decided he wanted to spend his life underwater when he was six years old. It was 1947. The Second World War had only recently ended. Nuytten’s dad had scored a job at Boeing, and the firm’s office in Vancouver Harbour was just a short walk away from the family home. Every now and then Nuytten would waltz down to the harbour unaccompanied, sneak out to the end of the docks, peer through the cracks and fall hopelessly in love with what he saw: fish, anemones, a teeming underworld. “I used to think: ‘Gosh, wouldn’t it be wonderful to go down there?’” he says. “To go down to that particular place?”

I used to think, ‘Gosh, wouldn’t it be wonderful to go down there, to that particular place?'

Continue reading...

<p>An old typewriter, a wooden chair, a worn cuddly toy… The things we surround ourselves with loom large in our lives. Here, eight people reveal why they love the design of their prized possession</p><p><strong><em>The Olivetti Lettera 22 typewriter</em> </strong>This is widely regarded as the greatest typewriter of all time. It’s the best ergonomically; it has a light action on the keyboard, but it still has a rhythm. It has an amazing set of features for a tiny machine. It has a half space insertion so you can delete a five-letter word with Tippex and then type it in again; if it’s one letter longer you can do a half space and squeeze up words. It’s also got much more sophisticated tabulation</p> <a href="https://www.theguardian.com/artanddesign/2018/apr/15/objects-of-desire-eight-people-name-their-favourite-things">Continue reading...</a>

Objects of desire: the design delights of my favourite things

Apr 15, 2018 7:00

An old typewriter, a wooden chair, a worn cuddly toy… The things we surround ourselves with loom large in our lives. Here, eight people reveal why they love the design of their prized possession

The Olivetti Lettera 22 typewriter This is widely regarded as the greatest typewriter of all time. It’s the best ergonomically; it has a light action on the keyboard, but it still has a rhythm. It has an amazing set of features for a tiny machine. It has a half space insertion so you can delete a five-letter word with Tippex and then type it in again; if it’s one letter longer you can do a half space and squeeze up words. It’s also got much more sophisticated tabulation

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<p>Unions alarmed by suggestion that deep structural reforms are required to adjust to changing nature of work<br></p><p>The <a href="https://www.theguardian.com/business/worldbank">World Bank</a> is proposing lower minimum wages and greater hiring and firing powers for employers as part of a wide-ranging deregulation of labour markets deemed necessary to prepare countries for the changing nature of work.</p><p>A working draft of the bank’s flagship World Development Report – which will urge policy action from governments when it comes out in the autumn – says less “burdensome” regulations are needed so that firms can hire workers at lower cost. The controversial recommendations, which are aimed mainly at developing countries, have alarmed groups representing labour, which say they have so far been frozen out of the Bank’s consultation process.</p> <a href="https://www.theguardian.com/money/2018/apr/20/world-bank-fewer-regulations-protecting-workers">Continue reading...</a>

World Bank recommends fewer regulations protecting workers

Apr 20, 2018 6:00

Unions alarmed by suggestion that deep structural reforms are required to adjust to changing nature of work

The World Bank is proposing lower minimum wages and greater hiring and firing powers for employers as part of a wide-ranging deregulation of labour markets deemed necessary to prepare countries for the changing nature of work.

A working draft of the bank’s flagship World Development Report – which will urge policy action from governments when it comes out in the autumn – says less “burdensome” regulations are needed so that firms can hire workers at lower cost. The controversial recommendations, which are aimed mainly at developing countries, have alarmed groups representing labour, which say they have so far been frozen out of the Bank’s consultation process.

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Talkmobile offered it, but Vodafone says no deal<p><strong>I was a Talkmobile customer and, as it’s being taken over by Vodafone, I went to a Vodafone store to upgrade my phone. I was told I had to call Talkmobile for a PAC code to transfer my number and when I did, the operative said that if I upgraded over the phone, I’d get 50% off my £24 monthly bill for the entirety of my two-year contract. </strong></p><p><strong>Vodafone, however, says this is incorrect, and that when my contract is taken over, the 50% deal would cease to apply. </strong></p> <a href="https://www.theguardian.com/money/2018/apr/19/talkmobile-vodafone-takeover-contracts-offers-deals">Continue reading...</a>

Is the promised 50% discount all talk?

Apr 19, 2018 7:00

Talkmobile offered it, but Vodafone says no deal

I was a Talkmobile customer and, as it’s being taken over by Vodafone, I went to a Vodafone store to upgrade my phone. I was told I had to call Talkmobile for a PAC code to transfer my number and when I did, the operative said that if I upgraded over the phone, I’d get 50% off my £24 monthly bill for the entirety of my two-year contract.

Vodafone, however, says this is incorrect, and that when my contract is taken over, the 50% deal would cease to apply.

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Confusing letter O with an 0 on a numberplate at a ticket machine should never be penalised<p><strong> I was intrigued by the case of the reader MR who lost his appeal against a parking infringement charge because he mistook a zero for the letter O when entering his car number plate. </strong></p><p><strong>I had an almost identical experience when I received a £60 ticket for typing an “O” for a “0” into a car-park machine, even though I had paid the correct amount. </strong></p> <a href="https://www.theguardian.com/money/2018/apr/18/private-parking-fines-zero-tolerance-penalty-appeal">Continue reading...</a>

We need zero tolerance of this parking scandal

Apr 18, 2018 7:00

Confusing letter O with an 0 on a numberplate at a ticket machine should never be penalised

I was intrigued by the case of the reader MR who lost his appeal against a parking infringement charge because he mistook a zero for the letter O when entering his car number plate.

I had an almost identical experience when I received a £60 ticket for typing an “O” for a “0” into a car-park machine, even though I had paid the correct amount.

Continue reading...

Security over monthly outgoings is vital for many homeowners. Here’s a guide to the best deals<p>It was a sharp reminder to a generation of homeowners that low rates would not last forever when Bank of England governor Mark Carney announced in November that interest rates were to rise for the first time in a decade.</p><p>That reminder – and the announcement there will be two more rises by 2020 – led to a flurry of activity among mortgage holders, who moved to fix their rates and lock in their monthly repayments. The rising cost of household bills further added to demand for the security of fixed-rate mortgages.</p> <a href="https://www.theguardian.com/money/2018/mar/05/mortgages-fixed-rate-loans">Continue reading...</a>

Mortgages: as a rate rise looms, it’s time to fix repayments

Mar 5, 2018 7:00

Security over monthly outgoings is vital for many homeowners. Here’s a guide to the best deals

It was a sharp reminder to a generation of homeowners that low rates would not last forever when Bank of England governor Mark Carney announced in November that interest rates were to rise for the first time in a decade.

That reminder – and the announcement there will be two more rises by 2020 – led to a flurry of activity among mortgage holders, who moved to fix their rates and lock in their monthly repayments. The rising cost of household bills further added to demand for the security of fixed-rate mortgages.

Continue reading...

From remortgaging to speaking to your lender, there are a number of ways borrowers can ensure they keep their home<p>It is the mortgage that has been labelled a ticking timebomb. The City regulator <a href="https://www.theguardian.com/money/2018/jan/30/interest-only-borrowers-risk-losing-homes-warns-watchdog" title="">recently warned</a> about the significant number of people with interest-only mortgages who are in danger of losing their homes as they may be unable to repay what they owe at the end of the loan term.</p><p>Following the latest alarm bell from the Financial Conduct Authority (FCA), consumer groups are now working to help people with&nbsp;interest-only mortgages - some of whom are avoiding talking to their mortgage provider - to resolve the situation.</p> <a href="https://www.theguardian.com/money/2018/mar/19/interest-only-mortgages-payment-shortfall-remortgage-lenders">Continue reading...</a>

Interest-only mortgages: how to tackle the shortfall

Mar 19, 2018 7:00

From remortgaging to speaking to your lender, there are a number of ways borrowers can ensure they keep their home

It is the mortgage that has been labelled a ticking timebomb. The City regulator recently warned about the significant number of people with interest-only mortgages who are in danger of losing their homes as they may be unable to repay what they owe at the end of the loan term.

Following the latest alarm bell from the Financial Conduct Authority (FCA), consumer groups are now working to help people with interest-only mortgages - some of whom are avoiding talking to their mortgage provider - to resolve the situation.

Continue reading...

<p>A 40% rise reported on back of advert featuring model head of Arnold Schwarzenegger </p><p>An advertising campaign featuring an animatronic head of Arnold Schwarzenegger urging people to “make a decision, do it now!” has helped push complaints about payment protection insurance (PPI) to a four-year high.</p><p>The total amount of compensation paid since January 2011 to people who were mis-sold the policies is £30bn. In January 2018 alone, banks and other financial firms paid £415m.</p> <a href="https://www.theguardian.com/money/2018/apr/19/animatronic-arnie-ppi-complaints-four-year-high">Continue reading...</a>

Animatronic Arnie pushes PPI complaints to four-year high

Apr 19, 2018 13:45

A 40% rise reported on back of advert featuring model head of Arnold Schwarzenegger

An advertising campaign featuring an animatronic head of Arnold Schwarzenegger urging people to “make a decision, do it now!” has helped push complaints about payment protection insurance (PPI) to a four-year high.

The total amount of compensation paid since January 2011 to people who were mis-sold the policies is £30bn. In January 2018 alone, banks and other financial firms paid £415m.

Continue reading...

<p>NHS workers’ representatives say it is a ‘terrible state of affairs’ for staff to be forced to take on loans with interest of up to 1,325%</p><p>NHS staff, council officials and gig economy workers are among the most regular applicants for payday loans, which charge interest of up to 1,325% per year, industry data has revealed.<br></p><p>In Birmingham, Leeds and Manchester, city council workers were among the most frequent applicants for the ultra-high interest debt last month, according to figures from a loan comparison website.</p> <a href="https://www.theguardian.com/money/2018/apr/18/nhs-workers-top-list-of-those-applying-for-payday-loans">Continue reading...</a>

NHS workers top list of those applying for payday loans

Apr 18, 2018 17:36

NHS workers’ representatives say it is a ‘terrible state of affairs’ for staff to be forced to take on loans with interest of up to 1,325%

NHS staff, council officials and gig economy workers are among the most regular applicants for payday loans, which charge interest of up to 1,325% per year, industry data has revealed.

In Birmingham, Leeds and Manchester, city council workers were among the most frequent applicants for the ultra-high interest debt last month, according to figures from a loan comparison website.

Continue reading...

<p>Feast your eyes on these extraordinary properties belonging to Germaine Greer, Graham Norton, John Cleese, Paul Whitehouse and Mary Berry<br></p> <a href="https://www.theguardian.com/money/gallery/2018/mar/16/for-sale-homes-owned-by-tv-stars-in-pictures">Continue reading...</a>

For sale: homes owned by TV stars – in pictures

Mar 16, 2018 13:08

Feast your eyes on these extraordinary properties belonging to Germaine Greer, Graham Norton, John Cleese, Paul Whitehouse and Mary Berry

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<p>Our parents are getting frail so any guidance on how to go about this would be much appreciated</p><p><strong>Every week a Guardian Money reader submits a question, and it’s up to you to help him or her out – a selection of the best answers will appear in next Saturday’s paper.</strong></p><p><strong>This week’s question:</strong></p> <a href="https://www.theguardian.com/money/2018/apr/14/is-it-time-for-a-lasting-power-of-attorney">Continue reading...</a>

Is it time for a Lasting Power of Attorney?

Apr 16, 2018 15:49

Our parents are getting frail so any guidance on how to go about this would be much appreciated

Every week a Guardian Money reader submits a question, and it’s up to you to help him or her out – a selection of the best answers will appear in next Saturday’s paper.

This week’s question:

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<p>Elizabeth Willard Thames abandoned a successful career in the city and embraced frugality to create a more meaningful life. It enabled her to retire at 32 with her family to a homestead in the Vermont woods</p><p>As I write this, I’m sitting on the back porch of the rural Vermont homestead I share with my husband and our daughter, gazing out on the 66 acres of forest, fruit trees, gardens, ponds, and streams that we feel incredibly lucky to call our own.</p><p>Just a few years ago, this seemed like an impossible feat. My husband and I were struggling to conceive a baby and attempting to chart a path out of our frenzied 9-5 grind in urban Cambridge, Massachusetts. We wanted to achieve financial independence, quit the cubicle jobs that made us so unhappy, and create a simpler life of purpose in a rural setting.</p> <a href="https://www.theguardian.com/money/2018/mar/08/how-to-retire-early-frugal-spending">Continue reading...</a>

Extreme frugality allowed me to retire at 32 – and regain control of my life

Mar 8, 2018 11:00

Elizabeth Willard Thames abandoned a successful career in the city and embraced frugality to create a more meaningful life. It enabled her to retire at 32 with her family to a homestead in the Vermont woods

As I write this, I’m sitting on the back porch of the rural Vermont homestead I share with my husband and our daughter, gazing out on the 66 acres of forest, fruit trees, gardens, ponds, and streams that we feel incredibly lucky to call our own.

Just a few years ago, this seemed like an impossible feat. My husband and I were struggling to conceive a baby and attempting to chart a path out of our frenzied 9-5 grind in urban Cambridge, Massachusetts. We wanted to achieve financial independence, quit the cubicle jobs that made us so unhappy, and create a simpler life of purpose in a rural setting.

Continue reading...

Research shows just 29% of UK homeowners’ disposable income is being eaten up by home loan payments<p>The proportion of homeowners’ income being swallowed up by mortgage payments is now one of the smallest since the mid-1990s, according to the Halifax. It said typical mortgage payments accounted for less than a third (29%) of homeowners’ disposable income in the last three months of 2017 – down from almost half (47%) during the same period in 2007. This figure is also “comfortably below” the long-term average of 35% for the period between 1983 and 2017.</p><p>This is a boost for those who have a mortgage and those preparing to take their first step on the property ladder</p> <a href="https://www.theguardian.com/money/2018/mar/17/mortgage-payments-most-affordable-home-loans-halifax">Continue reading...</a>

Mortgages are now the most affordable since the mid-1990s, says Halifax

Mar 17, 2018 7:00

Research shows just 29% of UK homeowners’ disposable income is being eaten up by home loan payments

The proportion of homeowners’ income being swallowed up by mortgage payments is now one of the smallest since the mid-1990s, according to the Halifax. It said typical mortgage payments accounted for less than a third (29%) of homeowners’ disposable income in the last three months of 2017 – down from almost half (47%) during the same period in 2007. This figure is also “comfortably below” the long-term average of 35% for the period between 1983 and 2017.

This is a boost for those who have a mortgage and those preparing to take their first step on the property ladder

Continue reading...

<p>My partner takes one out at the start of every tax year and says I should too. Really?</p><p><strong>Every week a Guardian Money reader submits a question, and it’s up to you to help him or her out – a selection of the best answers will appear in next Saturday’s paper.</strong></p><p><strong>This week’s question:</strong></p> <a href="https://www.theguardian.com/money/2018/apr/07/is-there-any-point-taking-out-an-isa">Continue reading...</a>

Is there any point taking out an Isa?

Apr 7, 2018 7:00

My partner takes one out at the start of every tax year and says I should too. Really?

Every week a Guardian Money reader submits a question, and it’s up to you to help him or her out – a selection of the best answers will appear in next Saturday’s paper.

This week’s question:

Continue reading...

<p>Thinktank predicts half will be renting in their 40s and a third ‘by time they claim pensions’</p><p><em><br></em>One in three of <a draggable="true" href="https://www.theguardian.com/money/2018/feb/19/uk-millennials-second-worst-hit-financially-in-developed-world-says-study">Britain’s millennial generation</a> will never own their own home, with many forced to live and raise families in insecure privately rented accommodation throughout their lives, according to a report by the Resolution Foundation.</p><p>In a gloomy assessment of the housing outlook for approximately 14 million 20- to 35-year-olds, the thinktank’s intergenerational commission said half would be renting in their 40s and that a third could still be doing so by the time they claimed their pensions.</p> <a href="https://www.theguardian.com/money/2018/apr/17/one-in-three-uk-millennials-will-never-own-a-home-report">Continue reading...</a>

One in three UK millennials will never own a home – report

Apr 17, 2018 0:01

Thinktank predicts half will be renting in their 40s and a third ‘by time they claim pensions’


One in three of Britain’s millennial generation will never own their own home, with many forced to live and raise families in insecure privately rented accommodation throughout their lives, according to a report by the Resolution Foundation.

In a gloomy assessment of the housing outlook for approximately 14 million 20- to 35-year-olds, the thinktank’s intergenerational commission said half would be renting in their 40s and that a third could still be doing so by the time they claimed their pensions.

Continue reading...

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