Money Tips Daily by Charles Kelly, former IFA and author of

UK house prices soar by 5% in September as mortgage approvals hit 13-year high UK house prices were up 5%, the highest growth rate in four years, in September year on year, according to the Nationwide Building Society’s lending data. Mortgage lending also rose, reaching a 13-year high, as the property market experienced increased post-lockdown demand. However, job loss fears and tighter mortgage l...

New Job Support Scheme unveiled by UK Chancellor to stop mass unemployment Chancellor Rishi Sunak has announced the Jobs Support Scheme, replacing the job retention furlough scheme, giving people in work three quarters of their normal salaries for six months. The UK government will be topping up wages of workers who have not been able to return to the workplace full time due to the coronavirus, in...

Following the tragic loss of a dear friend and business partner this week, I was reminded of just how precious and fleeting life can be. We all should make the best of our time on this earth. She certainly packed more into her short life than most people would in three lifetimes. Someone once said that there are two things certain in this life: Death and taxes! We’re all going to die one day, but...

UK economy grew by 6.6% in July The UK economy continued to recover in July, growing by 6.6%, according to figures. The economy has expanded three months in a row, but remains well below pre-lockdown levels. The Office for National Statistics (ONS) revealed that the UK "has still only recovered just over half of the lost output caused by the coronavirus", the BBC reports. Whilst this is good news,...

Tesco drone delivery starting NOW threatening thousands of jobs A Tesco drone delivery trial will start in Ireland dropping off smaller packages at customers' homes within 30 minutes of ordering. Drones company, Manna, currently runs medicine delivery trials in Ireland. The 50mph drones can deliver 4kg of shopping a mile away in three minutes. Amazon made its first commercial drone delivery in the...

Three reasons why the richest family in the UK have kept their wealth intact for 300 years On 9 August 2016, 25-year-old Hugh Richard Louis Grosvenor became the billionaire 7th Duke of Westminster, when his father, Gerald Grosvenor, suddenly died of a heart attack aged 64. The Duke and his family are estimated to be worth at least £10.1 billion (US$13 billion), according to the Sunday Times Rich L...

Could Wall Street tech stocks sell-offs and poor economic outlook indicate another market correction? Apple 6.7%. Amazon, Facebook and Microsoft dropped by 4%. Dow Jones Industrial Average closed 2.25% lower, S&P 500 fell 2.78% and Nasdaq dropped 2.95%. The global economy is expected to shrink by roughly 5% this year, which is huge. With Covid-19 showing signs of a return, further lockdowns co...

Leasehold trap – major builders could face court action over rip-off leases on newbuild properties The UK's largest housebuilders are being investigated by a watchdog after "troubling evidence" has emerged over the way leaseholds on newbuild housing estates have been sold to property buyers. Major companies like Barratt Developments, Countryside Properties, Persimmon Homes and Taylor Wimpey are fa...

By Charles Kelly, Wealth Mentor, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast. There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness , I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook . If you’d like furt...

As the recession deepens and the end of the furlough scheme looms, Ann Summers becomes the latest retailer to threaten landlords with CVA unless shop rents are renegotiated Some landlords are “burying their heads in the sand”, says Ann Summers boss Jaqueline Gold. Ann Summers is a hugely successful lingerie and sex toy chain, which has brought the industry from the backstreets into mainstream reta...

The Sunday Times reports that the UK government is planning to raise taxes, for instance Corporation and Capital Gains Tax, to pay for lockdown rescue packages. End of the month and lost summer of lost tourist billions. Other articles available at Money Tips Podcast - www.moneytipsdaily.com · Tax increases plan to pay for furlough · Zero interest credit card deals returning · Will demand for HMO r...

“No DSS” tenant blanket ban ignored by buy-to-let landlords despite ‘unlawful’ ruling by Judge The BBC has launched its own investigation into landlords who still advertise their properties to rent using the terms “No DSS” or “Working tenants only”. Last month, a District Judge has ruled that blanket bans on renting properties to people on housing benefit are unlawful and discriminatory. The count...

City Centre “ghost towns” CBI warns, as major retailer New Look wants landlord to reduce rent to zero The Confederation of British Industry ( CBI ) head, Dame Carolyn Fairbairn, said that Britain’s City centres could become "ghost towns" unless the Prime Minister Boris Johnson does more to encourage workers to go back to the office, the head of the CBI says. New Look wants rents reduced to zero as...

Major UK employers plan to keep staff working at home and have no immediate plans to bring them back to the offices, a BBC survey reveals.  Is this the end of the office as we know it? Other articles available at Money Tips Podcast - www.moneytipsdaily.com · Is this the end of work as we know it? · Is it really more efficient to work at home? · What will happen to all the city office blocks?...

Flat owners told their homes could be unsellable for up to 10 years with unsafe cladding. Following the Grenfell Tower fire disaster, hundreds of thousands of buildings were deemed to be unsafe due to the outside wall cladding. In 2019, the Royal Institution of Chartered Surveyors (RICS) brought out the EWS 1 form as a way of grading the safety of tower blocks with cladding. The grading certificat...

Why home repossessions are at a record low The number of houses being repossessed by banks plummeted to a record low in the second quarter of this year, according to Zoopla. The Ministry of Justice (MoJ) said the “unprecedentedly low levels” of possessions were due to government measures introduced to help homeowners by forcing lenders to offer mortgage holidays during the coronavirus pandemic. Th...

The UK government extended the ban on landlords evicting tenants in England and Wales today until 20 September in a dramatic last-minute U-turn hours before the ban was due to end, following fears that up to 243,000 could lose their homes. In most cases, renters will also get six months' notice if their landlord plans to evict them until the end of March. The block on tenant evictions during the c...

UBI or a universal basic income has been talked about by governments and think tanks for years. Now Germany has started an experiment to see if UBI can replace some of the income from the millions of jobs – both blue and white collar - expected to be lost to robots, machines and AI. Switzerland and Finland have previously run UBI pilot schemes. Driverless vehicles alone will wipe out tens of milli...

Apple now worth $2 Trillion – which businesses are booming during coronavirus crisis? Apple becomes the most valuable US company ever as it hits $2 trillion milestone after it shares rose 60% this year. Elon Musk becomes the fourth richest person in the world after his stock holdings gained $8 billion in one day as Tesla's share price rise 11% to an all-time high – the share price has soared by 33...

Self Employed – have you claimed a grant through the Self-Employment Income Support Scheme? This scheme allowed the self-employed trader to claim a first taxable grant, which closed on 13 July 2020. The second and final taxable grant is worth 70% of your average monthly trading profits, and will be paid out in a single instalment covering 3 months’ worth of profits - capped at £6,570 in total . If...

Hong Kong BNO passport holders snap up UK properties There is anecdotal evidence that Hong Kong buyers are investing in British property ahead of eventually settling in the UK. Following recent changes to the law, as many as three million Hong Kong residents could be offered the chance to settle in the UK and apply for citizenship, Boris Johnson announced last month. The British Prime Minister sai...

Last minute UK quarantine rules forces thousands to cut short holidays in Europe The UK government has changed the quarantine rules for holidaymakers returning from France and the Netherlands. What does this all mean for your travel rights? Increased outbreaks of coronavirus have meant abandoning or changing holiday plans at the last minute, for thousands of travellers. France, the Netherlands Mon...

As the UK officially goes into the worst recession in decades - economy shrinks by 20% April to June – some sectors of the job market are recovering. The numbers of unemployment benefits claimants rose sharply from just over 1 million to 2.7 million in the first six months of this year. Other articles available at Money Tips Podcast - www.moneytipsdaily.com Millions of people face a bleak future p...

Economic output measured by GDP was negative for two quarters, which means the UK is officially in recession. The Covid 19 driven recession has hit the UK harder than any of the major economies apart from Spain. UK Chancellor Rishi Sunak says recession, the first since 2009, is “unprecedented”. The number of people in work in the UK fell by 220,000 in the last quarter Due to the coronavirus lockdo...

Despite billions spent on the job retention ‘furlough’ scheme, UK employment dropped by the largest amount in over a decade between April and June, ONS figures show. Due to the coronavirus lockdown, the number of people recorded as ‘in work’ fell by 220,000 on the quarter, according to the Office for National Statistics. Before the lockdown, the UK had recorded the highest number of people in work...