Edmund Greaves

House prices should be frozen, says new report

House prices should be held at a rate of zero inflation to rebalance the UK economy and to prevent another housing crisis, according to the Institute for Public Policy Research (IPPR).

The think tank’s report recommends the Bank of England creates a separate inflation target for house prices with a target rate of zero for five years.

Deposit limit on NS&I's guaranteed growth bonds cut

Savers with larger deposits will be unhappy that NS&I has slashed the ceiling on its deposits.

The change relates to NS&I’s one- and three-year guaranteed growth and income bonds. Previously, savers were able to deposit up to £1 million with these products. Now however, NS&I have slashed this limit to just £10,000. This is effective immediately.

Over 25% of homes bought in 2018 backed by 'Bank of Mum and Dad'

Parents are now effectively a mortgage lender with a £5.7 billion loan book in 2018, according to financial services group Legal & General (L&G).

More than a quarter (27 per cent) of home buyers have received help from the ‘Bank of Mum and Dad’ so far this year. When looking specifically at under 35s, nearly three in five (59 per cent) have received support from parents to get on the property ladder.