Money Tips Podcast

Top 50 UK employers have no plans to fully reopen offices 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? What opportunities will there be for property investors? Other articles available at Money Tips Podcast - www.moneytipsdaily.com Is this the end of work as we...

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. The were no homes repossessed in the three mo...

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...

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, instead of paying people to stay at home. Sunak hopes the new £300 million a...

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 330% this year. He is now worth $84 billion despite owning a until recently loss-making...

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 you're self-employed or a member of a partnership and have been adversely affected by corona...

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 said Hong Kong's freedoms were being violated by a new...

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 Jobs demand picks up with more vacancies...

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...

The popular chain said it plans to launch a company voluntary arrangement (CVA) in the “near future” in a bid to push down its rents and clear some of its £1 billion of debt.  The restructuring arrangement will save the company from bankruptcy but could see the closure of 15% of 449 restaurants and the loss of 1100 jobs. A spokesperson said the final outcome of the restructuring has “yet to be dec...

The hot weather seems to have little effect on Coronavirus, despite scientist’s predictions, and businesses have to put reopening plans on hold. Other articles available at Money Tips Podcast - www.moneytipsdaily.com Manchester declares a state of ‘major incident’ after Covid rise Major employers ignore government ‘back to work’ advisory HSBC to shed 35,000 jobs after 63% drop in profits and bad l...

House prices rose by 1.7% during the month compared to a 1.5% fall in June, according to the lender Nationwide Building Society. Other articles available at Money Tips Podcast - www.moneytipsdaily.com   UK property prices jumped by 3% since June after stamp duty cut How to find your ‘goldmine’ property area right where you are Unemployment could reach 10% and recession last until 2024 NS&I paying...

Investors look for deals hundreds of miles away when there are plenty of opportunities on their doorstep.  Know your area – every area has its sweet spot! Decide on your strategy: Are you going down the buy to let route? Do you want to be a landlord?  Are you good at managing property and could you build a rent to rent business? Do you want to develop properties or by, refurbish and refinance? Do...

Other articles available at Money Tips Podcast - www.moneytipsdaily.com   NS&I pay 1% no minimum or early withdrawal penalties Guaranteed Income Bonds pay 1.15% to 1.6% depending on term Help to Save best deal of all with 50% bonus if you qualify on low income Lifetime ISA 25% bonus, invest up to £4,000 for first-time-buyers aged 18-39  Make sure you have an emergency contingency fund avoid short...

UK Property prices rise after stamp duty cut, despite rising unemployment. The UK housing market is rebounding fast after a tax cut by the Chancellor Rishi Sunak, according to the property website Rightmove. Other articles available at Money Tips Podcast - www.moneytipsdaily.com   UK unemployment rate could hit 15 per cent with second Covid wave, says OECD British Chambers of Commerce said 28% of...

Warren Buffett is one of the most successful investors of all time and one of the richest men in the world with a net worth of $79 billion, most of which he intends giving away to good causes.   He leads a relatively simple life in Omaha, Nebraska and has lived in the same house since 1958.   Multi-billionaire Warren Buffett is a ‘value investor’ who invests in companies for long term though Berks...

Mortgage loans will be squeezed as lenders reduce number of products Mortgage lenders will start to slash the availability of competitive mortgage products, loans and other credit during the coming weeks despite consumer demand. Banks have informed the Bank of England that the supply of credit will fall this summer due to coronavirus pressures. This will be a blow to the UK economy, the housing ma...

The UK Treasury has launched a “review” of the capital gains tax system to "ensure the system is fit for purpose", the BBC reports. Some experts are warning of "a tax grab" in the autumn to pay towards the multi-billion-pound cost of Coronavirus measures, such as the furlough scheme. The Chancellor, Rishi, Sunak asked the Office of Tax Simplification to investigate how capital gains are taxed for...

The UK central bank had revised forecast, but predicts that recovery will take longer than previously expected. Other articles available at Money Tips Podcast - www.moneytipsdaily.com Governor of Bank of England more upbeat in his forecasts Unemployment to double 7.5% and economy slump 9.5% Base rates held at 0.1% and will keep rates low for 5 years Lenders not passing on rate cuts, mortgage rates...

A District Judge has ruled that blanket bans on renting properties to people on housing benefit are unlawful and discriminatory. The "momentous" court ruling found a single mother-of-two had experienced indirect discrimination when a letting agent refused to rent to her. She ended up homeless with her two children, when her case was taken on by housing charity Shelter. The judge ruled "No DSS" ren...

British MPs are urging the government to intervene and help 170,000 "prisoners" who are trapped it mortgages with high interest rates. Many of the borrowers are lower paid frontline workers, like nurses and hospital workers, who have no choice but to pay up to double the interest they would be charged on a normal competitive mortgage. They cannot re-mortgage to a cheaper deal offered by other lend...

The UK housing market is rebounding fast after a tax cut by the Chancellor Rishi Sunak, according to the property website Rightmove. The number of sales agreed in England soared by 35% in the five days following Rishi Sunak's announcement on July 8, Rightmove said. The property market was showing signs of recovery, from a low in April, with agreed sales in England up 15% in June.  Sunak raised the...

The 10 celebrities who command the most money per Instagram post Dwayne 'The Rock' Johnson, 187m followers - just over $1m per post Kylie Jenner, 182m followers - $986,000 per post Footballer Cristiano Ronaldo, 225m followers - $889,000 per post Socialite Kim Kardashian, 176m followers - $858,000 per post Pop star Ariana Grande, 191m followers - $853,000 per post Actress and singer Selena Gomez, 1...

In the last few years, mortgage lending rules have been tightened up by UK regulators. Lenders now dig into your finances far more deeply than just looking at your annual income. Self-certificated mortgages are all but gone and even standard buy-to-let mortgages have become more difficult to obtain. Most people think that getting a mortgage from the bank is the only way to finance a property purch...