The Guardian was keen to highlight that home insurance providers are still taking advantage of loyal customers by charging them more than new customers when they simply auto renew. One provider's renewal premium was £1,227, when it would have been reduced to £370 if they were new. They suggest everyone should review their policies.
The Times advised that savers should consider transferring their Help to Buy ISA to a lifetime ISA (LISA) before 5th April 2018. The balance won't count towards your £4000 annual LISA allowance but will still attract the 25% government bonus.
It was also keen to point out that interest rates could rise again, suggesting borrowers protect themselves by: taking a long term fixed rate, overpay if you can, consider an offset mortgage and set up a rainy day contingency plan.
The Financial Times reported inflation has breached its target after prices increased last month at the fastest rate for more than 5 years. Meanwhile, The Sunday Telegraph reported that landlords are turning to niche areas such as Houses of Multiple Occupancy (HMOs) in a bid to squeeze greater returns from property. The article analysed the pros and cons of them as well as some of the more specialist HMO mortgages on the market.
The Daily Mirror reported that research from Experian has found that almost a fifth of millennials' usual monthly outgoings are more than their average monthly income. The small numbers that do manage to save only put away c£198 per month -not much help when the average first time buyer deposit is c£51,821. Experian has launched a moving out cost calculator that estimates the average monthly rent and mortgage repayments for an area, and gives an indication of likely living expenses such as utility bills and council tax. It also suggests checking your credit score because a good score is vital to obtain a good mortgage.