First-time buyers are borrowing through mortgages that last an average of 31 years as the affordability of homes remains a stretch. A decade ago, the average mortgage term for those buying a first home was 28 years, according to figures from banking trade body UK Finance. Higher mortgage rates have pushed people to borrow for...
The government borrowed more than expected in the year to March due to increased spending on pay and benefits, according to official figures. Borrowing, the difference between spending and income from taxes, was £151.9bn in the year to March, up £20.7bn from the year before. The amount borrowed was much higher than the £137.3bn predicted...
What are Rachel Reeves’s rules for the economy? View original article...
