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Pension fees can cost 10% of savings, says Citizen

Withdrawing money from a pension fund can cost savers up to 10% of their retirement fund, according to Citizens Advice. The regulator, The Financial Conduct Authority (FCA) has already warned that up to 670,000 consumers face such fees. In a survey of people withdrawing cash from their pension, Citizens Advice found those with smaller funds were paying proportionately larger […]

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House prices ‘expected to fall’ in the short term

Chartered surveyors are predicting a short-term drop in UK house prices over the next three months – the first fall in more than six years. Members of the Royal Institution of Chartered Surveyors (Rics) who work in estate agents said London and East Anglia would be most affected. Surveyors expecting prices to drop outnumbered those […]

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Middle-class ‘face savings squeeze’

A third of middle-class families would need to borrow to pay an unexpected bill of £500, according to a new survey. The YouGov poll for the Times found 31% of ABC1 workers, which includes junior managers and professionals, would struggle to pay a sum of that size. The figure rises to 46% for manual workers and the […]

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Warning on higher cost of 40-year mortgages

First-time buyers are being warned they could pay tens of thousands of pounds more interest if they sign up for 40-year mortgages. Sales of longer-term mortgages have reached record levels, with most young buyers choosing to borrow for more than the traditional 25 years. The monthly repayments are smaller, so they can afford bigger loans […]

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House price slowdown to continue, Halifax says

Growth in house prices is likely to slow over the rest of this year, the UK’s largest mortgage lender has said. The Halifax said house price inflation in the year to May remained unchanged at 9.2%, which was the lowest rate since last autumn. It said there would be a further slowdown in the months […]

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Thinking of buying a second home? A guide to stamp duty

Ten key points to consider when buying a second home for your own use or as a buy-to-let investment To buy-to-let or not to buy-to-let, that is a difficult question! It can be quite a conundrum for people with capital to invest who are dithering between the stock market or bricks and mortar. Since April […]

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Download your OnTheMarket.com app to search

The free iOS and Android apps from OnTheMarket.com will give you a head start when searching for property If you’re looking to buy or to rent and want to use your mobile or tablet to search for your perfect new home, give yourself a head start and download one of the free OnTheMarket.com apps here today. Many […]

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How to make a competitive offer as a first time buyer

Are you looking to buy your first home? Nick Manson, Director of Mansons, in Jesmond, Newcastle, talks us through how best to prepare before making an offer Being a first time buyer can be hard work, stressful and nerve-racking. Chances are that you won’t necessarily know the market and it’s easy to be blind-sided by the […]

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Mortgages: Homeowners could switch deals ‘in seven days’

Homeowners could be offered the option of switching their mortgage supplier within a week, under plans being considered by the government.  A consultation will consider whether the procedure for swapping mortgages could be made as fast as that for changing bank accounts. At the moment it can take up to three months to transfer to […]

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Payment by cheque: it’s not all over yet

More than 500m cheques were written in 2015, confounding expectations that the payment method is disappearing. However, Payments UK, which represents the industry, said that still represented a 13% decline on the previous year. It said the figures showed that cheques are still valued as a means of payment. Cheques had been due to be […]