Workers prepared to commute by rail to London are benefiting from house prices that are 60% lower than if they lived close to their place of work, according to new research from Halifax. An hour’s travel outside the Capital, the average home costs £375,000 less than in the centre of London, more than offsetting the [...]
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Mortgage Rescue Scheme costs £93,000 per household
The Government’s Mortgage Rescue Scheme, launched in January 2009, has achieved fewer than half the rescues expected. According to the National Audit Office (NAO), the scheme has helped 2,600 households avoid repossession and homelessness, at a cost in excess of £240 million. The result compares with expectations of helping 6,000 households for £205 million in [...]
Housing costs hit three-year high
Despite historically low interest rates, the cost of owning and running a home in the UK has risen to its highest level since 2008. According to research from Halifax, expenditure rose 1.4% over the past year alone, to £9,083, with electricity and gas charges (+£68) and maintenance costs (+£45) the biggest contributors to the overall [...]
