UK money news stories - 11 December 2024

New first-time buyer mortgage allows borrowing up to 5.5 times income

One of Britain’s biggest building societies, Leeds Building Society, has bumped up the borrowing ratio for first time buyers to 5.5 times their income - an extra £66,000, on average. But what’s the catch?

Travelled with South West Trains from London in 2015 to 2017? You could be due £30+ in compensation – here's how to check and claim

Passengers who took a South West train out of London between 1 October 2015 and 20 August 2017 and held a TfL Travelcard could’ve been overcharged and may be due compensation. South West Trains has agreed to pay out £25 million but you’ll need to make a claim by 10 January. Here’s what you need to know.

Cost of average UK Christmas dinner up 6.5% as veg prices soar

A family of four can expect to pay almost £33 for their festive feast this year, thanks to a jump in vegetable prices. The cost of potatoes has risen 16.3% while the price of carrots has gone up almost 15%. But keep an eye out for discounts in the run-up to Christmas as a number of supermarkets are known to slash prices on turkey and the trimmings. 

Barclays Rainy Day Saver: rate to fall in February

Next year Rainy Day savers will see their rate drop from 5.12% to 4.87%. Barclays isn’t the only provider cutting rates so is it worth sticking with the account after February?

Car loan scandal victims told to complain

Car owners caught up in the current loan saga have been told to complain to the lender if they feel they’ve been mis-sold to. Lenders have been accused of hiding commission payments when cars were bought on finance, but the situation has been described as a mess and could take a long time to resolve.

Owners of older homes face new mortgage penalty

Halifax will start considering a home’s energy efficiency when calculating how much buyers can borrow from next week. The concern is that those buying an older, poorly insulated home will be offered a smaller loan potentially forcing the sellers to drop their price if the mortgage isn’t enough.

How rich are YOUR neighbours? Disposable income levels in cities across Britain revealed

Analysis shows in which parts of the country people have the most disposable income and spoiler alert, it’s not Londoners!