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Buying “£1,300 cheaper than renting”

First-time buyers now save £1,300 a year by taking out a mortgage rather than renting, according to Britain’s largest lender, the Halifax. Based on a three-bedroom house, the average first-time buyer pays £677 a month. The average rent paid on the same-sized property is £787, giving owners a monthly saving of £110. But mortgages rates… Read more »

Bank of England holds UK interest rates at 0.5%

UK interest rates have been held at the record low of 0.5% for another month by the Bank of England. The size of the Bank’s bond-buying economic stimulus programme was also kept unchanged at £375bn. The decision was widely expected, despite continued signs of strength in the UK economy. Last month, the Bank of England… Read more »