News Headlines – Sunday 7th July

Property

Experian report shows that householders who have changed the name or number of their properties could be turned down for a current mortgage because it lowers their credit scores, Times Money p 1

A growing number of people are shunning the traditional way of selling housing – using estate agents to favour of online sites.  High street estate agents charge between 1.5% and 2% of the sale price whereas online rivals offer a flat fee of between £250 and £1000.  This now accounts for around 5% of sales according to RICS, Observer p 45

 

PF

Investors and homeowners were given a boost after the new Bank of England governor suggested that interest rates would stay low for years to come.  Unfortunately this is not good news to millions of savers who have seen their wealth eroded since Bank rate hit 0.5% in 2009, Times Money p1 & others

 

Economic

Consumer spending is growing at its fastest rate for 10 months according to MOS research.  A rise of almost 5% from June 2012. Garden centres jumped 19 per cent and growth continued in cinema and theatre tickets u p16 per cent, restaurants up 12 per cent and airline tickets up 13 per cent. MOS p 89

 

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