Personal Finance
The Bank of Granny and Granddad is helping young people with their deposits for their first homes, according to housebuilder Taylor Wimpey. It found young people are claiming they are being forced to live at home as they try and save for a deposit. Elsewhere HSBC reports housing stagnation is likely as fewer first-time buyers come to market. The lack of activity is spreading to existing homeowners too as for those who own a home already the average cost of moving has risen to £9,000 according to Lloyds TSB.
Daily Mail, P25, Daily Express, P7
Business
Despite the news about GDP in theUKearlier in the week,UKPM David Cameron attacks the eurozone in Davos and speaks out against plans for a European tax on transactions. Accuses European leaders of ‘tinkering’ rather than following Britain and taking ‘bold and decisive’ action. He urged Germany to take the lead and boost domestic demand to generate growth across Europe.
FT, Daily Express, p2, The Guardian, P8-9, Telegraph, B1, The Independent, P2-3,
Property
Veteran property tycoon Vincent Tchenquiz is selling a portfolio of ground rents for £3bn in a deal that will give the buyer control over 250,000 freeholds. The portfolio represents 1% ofUK’s entire housing stock and has average lease length of 60 years.
Ed Hammond, FT
